Friday, January 4, 2008

Online presence of real estate
Interesting article I came across in WSJ, to understand and realize why my business as property dealer is coming down and how I need to bring up the presence on internet.
A real estate 'consultant' with more than two decades of experience, K. Premsundar is a worried man. His business, a letting agency for low-end properties, has seen a big drop in the last two years. He says his clients have left him, choosing to place advertisements directly on the many real estate Internet portals and in neighbourhood dailies. Such advertising costs a fraction of the fee that, agents charge. Indiaproperties.com, an online real estate portal, allows owners to post their properties for Rs500 per listing, whereas if the deal is done through a broker, it would mean a month's rent as commission, from either the owner or the tenant. Others sites such as magicbricks.com and Sulekha.com also offer similar services. The portals allow for direct interaction between the property's owner or seller and a prospective tenant or buyer. "Online portals have impacted agents' business especially in the lower range. Their traditional clients have moved away," said J. Sohail Sarooshi, vice-president of the Chennai Real Estate Agents Association. The association, which has 60 members, was formed as an attempt to bring fair conduct norms into the industry, which is largely unregulated. For a sale, agents get a 3-4% commission on the value of the sale, and for a rental deal, they get 15 -30 days' rent as commission. "Real estate agents have so far thrived on information," said Naresh Malkani, chief executive officer of indiaproperties. com. "Now, the Internet provides the information." However, he said unlike booking travel tickets online, the "Internet is not going to replace agents, as the transaction has to be done physically". Agents now need to focus on services such as valuation, documentation, registration and field visits, he said. "We definitely have seen the advanced Internet user take advantage of the free online classifieds and other options. By interacting directly with other individuals, they have able to reduce lead time and costs", said Satya Prabhakar, chief executive officer of Sulekha.com, a portal that also lists properties. "It still may be a good idea to supplement this with the professional advice of local real estate agents". According to an estimate by Iindiaproperties.com, in cities covered by online portals, 40% of the total market, in terms of tproperty inventory, is listed on Internet sites. In the last six months alone, Malkani said, , there has been a 120% increase in listings. And, property for a monthly rent of between Rs5,000 and Rs20,000, the traditional bread and butter for letting agents, constitutes onethird of total listings on his website.
On Sulekha.com, Prabhakar said 80% of rentals are at Rs20,000 per month or below. Both individuals and real estate agents access the site. I Though the Internet is posing a challenge to agents, however, realized they can both co-exist. Agents, who pay an annual fee ~ of Rs10,000 to enrol as members, can list 100 properties every year, and provide onefourth of all listings on indiaproperties.com. Local real estate agents, especially smaller ones, Prabhakar said, are using online classifieds as a "platform to reach out to individuals who are looking for rental solutions in the niche areas that they operate in. The lower entry barriers and flexible advertising options have helped those who have been quick to adopt this." However, Premsundar, in his late fifties, has never used the computer nor browsed the Internet. He says he is too old to start now.
And now after the success of the online presence the other vacuum of an online networking site to discuss the issues and concerns of real estate in general and specific is being attempted by propertymixer.com.
Propertymixer is much needed online platform required by the Real Estate Industry to make it a bit more organized and transparent. I am glad to see the kind of simple and straightforward approach used by the site and connecting to a variety of people in the global property business. It couldn’t have been easier.
All the best to the promoters of this site to bring knowledge sharing at the top.

To read more visit http://www.propertymixer.com


PropertyMixer and its need
PropertyMixer is the only real estate networking portal.
PropertyMixer offers a platform for estate agents, investors, investment consultants, bankers, insurance agents, developers, interior designers, architects and all those who ahve any interest in the Real Estate Industry to interact with each other and benefit from the relationships.
The portal is not restricted to any country or location but because India and Dubai are the two markets which are the focus of International Real Estate, we would encourage people belomging to these countries to definately take advantage of the platform.
Indian Real Estate is a very lucrative market, attracting a lot of Foreign Direct Investment, though this is also one of the most unorganised markets where for a foreign buyer to enter, they need help and advice a lot more for the channels to begin with are very unstructured. According to a research published by Deutsche Bank about the Indian Market,
• Above-average economic growth in India. Strong population growth, a large pool of highly-skilled workers, greater integration with the world economy and increasing domestic and foreign investment are expected to drive India’s real GDP by 6% p.a. over the next 10 to 15 years.
• Services outsourcing revving up office demand. India is the prime destination for IT services outsourcing. In the coming five years, at least 55 million m² of extra office space must be completed in the premium office segment alone.
• 600 new shopping centres by 2010. India’s burgeoning middle class will drive up nominal retail sales through 2010 by 10% p.a. At the same time, organised retail is becoming more important. At present organised retail accounts for a mere 3% of the total; by 2010 this share will already have reached 10%.
• By 2030 India will need up to 10 million new housing units per year. Rapid population growth, rising incomes, decreasing household sizes and a housing shortage of currently 20 million units will call for extensive residential construction. The financing of owner-occupied housing in particular holds out
enormous market potential.
• Capital market still underdeveloped. The total stock of commercial property is estimated at over USD 300 bn. So far the invested market accounts for only USD 4 bn of this. Capital market products, such as commercial mortgage-backed securities or listed property vehicles are still almost entirely lacking.
• Heed risks. Property investments in India are not risk-free. Market transparency is far behind European or US standards. It is therefore vital for foreign investors to have a professional local partner. The lack of liquidity and upward pressure of pricing remain the main concern within the market.
Dubai is another very lucrative market which is attracting a number of foreign buyers. Dubai is strategically being developed as a tourism based economy and because of the exquisite infrastructure and interesting promotions, dubai is attracting people to buy real estate there.
The flattening world has given rise to a need within the Real Estate fraternity to conenct, to network, to know more people, to be resourceful, to be able to identify where lies a new opportunity and who will be able to help one capitalise that and this is where PropertyMixer has a big role to play.

To read more visit http://www.propertymixer.com


Rent Spanish Property and Enjoy Designer Living
You might have heard a lot about the crowded beaches, flamenco dancers and bullfights in Spain. Well, the country is certainly famous for all these attractions. But Spain has a lot of other things to offer as well. You can enjoy a clement climate round the year, lead a relaxed life, and wine and dine at your heart’s content if you have place to stay there.
Don’t worry about accommodation; you will have Spanish property to rent at affordable rates. There are options for all ─ the well-offs and the abstemious. From luxury apartments to budget accommodations, Spain has options for anybody and everybody. With the north resembling the rolling green hills of Ireland and the south giving you a taste of Moroccan landscapes and architecture, the country offers spectacular beauty and rich diversity.

Living in Spain means spending time in holidaying for the whole year. The rich past of the country is reflected in its prehistoric cave paintings, Moorish palaces, crumbling castles, Roman ruins, and Gothic and Renaissance cathedrals. Together with it, there is the distinctive modern architecture and other new developments. And the result is designer living. This probably explains the craze for Spanish property!
That Spain has certain uniqueness about it is probably because separate kingdoms made up the original Spanish nation. In their language, culture, cuisine and art these regions are quite diverse. Excellent architecture in Córdoba, Salamanca, Granada, Toledo and Madrid; quiet beaches near Malaga, Huelva and Almería provide an especially pleasant living. In order to get a first hand experience of it, you can approach the agents who have Spanish property to rent.
No matter which part of Spain country you want to have an accommodation, a property agent can easily manage one for you. Spanish people are very open-hearted and communicative and so are the agents. They provide service to those who want Spanish property to rent. Being available on the Internet, they remain accessible with a few clicks of the mouse.

About The Author: Brittney Jackline is a well known professional writer. She has won appreciation especially for good writing about Your Key To Spain - Spain Real estate services like ... Spanish Property.