thrasherharpolehalsey
Halsey Thrasher Harpole is the biggest home realtors in Jonesboro, AR offering buying and selling of homes and commercial properties. We specialize in property maintenance and development for the full-service real estate program.
Real estate was once the province of agents and brokers, people connecting with people to buy and sell properties. Today, it’s still about connection, but those connections are made deeper, more meaningful, with the power of technology.
Though real estate has traditionally been one of the sectors with slower tech adoption, recent years have seen a major uptick in the creation of an investment in technology to help make real estate professionals’ lives easier. Technology in the real estate industry is solving those problems, while improving the customer experience. The real driver of change in the real estate world today is the mainstream usage of data immersion through Artificial Intelligence (AI) and machine learning platforms.
Here some of new tech trends in real estate are:-
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Blockchain and real estate**
Blockchain is the technology behind cryptocurrencies such as Bitcoin, Litecoin and Ethereum. Essentially, it’s a public, digital ledger or database that records all transactions, without the need for a central verifying authority such as a bank. No middleman means reduced legal and title-related costs and a faster settlement process.
With VR, potential buyers and renters can virtually tour the property from anywhere in the world, at any time. This means that the property is open for inspection 24/7, allowing agents and clients to save time and money while increasing efficiency and engagement.
Meanwhile augmented reality (AR) apps superimpose a computer-generated image of an object into real life, allowing people to do things like capture Pokemon or virtually decorate a space using their phones or tablets. For brokers and developers, they’ll be able to showcase the potential of an unfinished space using AR to present a desired lifestyle and decrease time on market.
Another real estate tech trends to watch this year is push technology. While this technology has been around for a few years, it has become increasingly popular as more and more agencies develop their own smartphone apps.
Agencies can use push technology to send content alerts to a smartphone’s locked screen and other notification areas in order to get users back on the app again and generate leads (phone calls). According to Kahuna Mobile Marketing, push notifications double retention rate and help prevent app uninstalls.
The modern consumer expects immediacy. They want answers to their questions and they want them now. That’s where real estate robots like chatbots, voice bots and virtual assistants come in. Not only can they help answer consumer queries with little to no delay to keep consumer expectations at bay, but they can also free up your time to focus on what really matters. They can be found on popular social media platforms like Facebook and on many websites.
Most real estate investors try to stay away from cities with rising housing costs and high cost of living as they are much less likely to bring a high ROI than investments in more affordable cities. This means there is a high demand for single family rentals and apartments that offer affordable rental rates. It also means you shouldn’t invest in markets that are already over-priced – there will not be enough renters looking for expensive properties as time goes by.
Many people have made incredible incomes by investing in real estate. If you want to expand your investment horizons, the following tips may help you to invest in real estate in a more profitable way.
Real Estate Investment Trusts (REIT)
Real Estate Investment Trusts (REIT) are great ways for you to invest in real estate without being actively involved. A REIT is a fund that is setup to invest in mortgage instruments, bonds, and stocks in the real estate niche. The best REITs can also act as a source of balance in your portfolio, since they generally deliver better returns than other stocks during a bear market. Furthermore, they're often one of the few asset classes investors tend to increase their investments during downturns.
Invest In A Bigger Real Estate Deal
Commercial or Residential is the favorite options for investing in real estate and to join with others to invest in a bigger deal weighing all your options may look good as an option. Low minimums is one of the great options for investing in a large real estate dealing. It means, depending on the platform you use, you can invest as minimum as $500 and be an owner in a property.
The great way to produce extra monthly cash flow by purchasing homes and renting them out. To do this, you have to purchase a house that has a combined monthly mortgage payment, home insurance payment, and property tax payment lower than the rent the property holds. There are several ways to do this – from buying in an area with high rents, to putting a lot of money down so that your mortgage payment is low.
The advantages to renting a portion of your house is that you get to watch your tenant closely. It’s less likely that a tenant will try to stiff you for the rent payment when you’re in the same household. Renting a portion of your house also gives you the ability to get a feel for what it is like to be a landlord without making such a huge monetary investment.
Real estate is the real property made up of land and improvements, which include fixtures, roads, structures, buildings, air rights above the land and underground rights below the land.
There are several types of real estate, each with a unique purpose and utility. The main categories are:
Residential real estate consists of housing for individuals, families, or groups of people.
Within residential, there are single-family homes, apartments, condominiums, townhouses, and other types of living arrangements.
Commercial Real Estate
Commercial property refers to land and buildings that are used by businesses to carry out their operations. It includes shopping centers and malls, medical and educational buildings, hotels and offices. Apartment buildings are often considered commercial, even though they are used for residences.
Industrial Real Estate
Industrial real estate refers to land and buildings that are used by industrial businesses for activities such as factories, mechanical productions, research and development, construction, transportation, logistics, and warehousing.
Land is the baseline for all types of real property. Land typically refers to undeveloped property and vacant land. Developers acquire land and combine it with other properties and rezone it so they can increase the density and increase the value of that property.
How Real Estate Industry Works?
The real estate industry can be divided into several different areas:
Real estate development is a process that involves the purchase of raw land, rezoning, construction and renovation of buildings, and sale or lease of the finished product to end users. Developers earn a profit by adding value to the land ie,creating buildings or improvements, rezoning, etc. and taking the risk of financing a project.
A real estate brokerage is a firm that employs a team of real estate agents who help facilitate a transaction between the buyers and sellers of property. Their job is to represent either party and help them achieve the purchase or sale with the best possible terms.
Property management firms help real estate owners rent out the units in their buildings. Their jobs include collecting rent, showing units, fixing deficiencies, performing repairs, and managing tenants. They charge a fee, typically a percentage of the rent, to property owners.
Lenders play a major role in the industry as virtually all properties and developments use leverage to finance their business. Lenders can include banks, credit unions, private lenders, and government institutions.
Market value is how much a home would sell for under normal conditions. This excludes sales where the buyer or seller is under pressure to act, perhaps due to career relocation, death of a family member, or divorce. Market value is basically an educated guess, but it can be fairly accurate if you apply the right method and consider all the important details.
A number of factors may affect your home's market value, including:
External characteristics: It tells about home condition, lot size, popularity of an architectural style of property, water or sewage systems, sidewalk, paved road and so on.
Internal characteristics: It is based on the size and number of rooms, construction quality, appliance condition, heating type, energy efficiency and so on.
Supply and demand: The number of homes for sale versus the number of buyers; how quickly the homes in your area sell.
Location: Interest for a particular school district, neighborhood and so on.
The sales comparison approach is used to estimate home's market value. This is the first method used by professional appraisers and real estate agents or brokerage to determine the market value of homes. Begin by researching recent sales of similar properties in the local area. The sale prices of these properties will provide a good place to start with in estimating your home's value. Try to find sales of least three properties that are comparable to your home. If possible, make sure these properties were sold under normal conditions. You only want properties sold at market value.
Apartments are a result of concentration of population in cities and metros where open spaces have become scarce. A number of dwelling units are made one upon another and also side by side to save space and are called apartments. The person who makes these dwelling units is the landlord and he leases out an apartment to the person who wishes to live in it. You have a right to live as long as you wish in an apartment but the property remains in the name of the landlord.
An Apartment can increase in value, which means you can gain more if you decide to put it on the market. There are no ups and downs in your payment if you take out a fixed-rate mortgage.It will remain constant through the life of the loan. When you buy a home, you are free to do what you like with the interiors.
Have you ever been to the real estate market for buying or selling a home? Then it will become very clear to make out how the real estate industry works and its matrix.
Usually, real estate agents or brokers in the locality provide a list of properties to the potential buyer. Then comes locating the property, negotiating price, brokerage cost, finally legal documentation will be done along with the key of their dream home. This is the process that remained for decades even though some inconvenience and time consumption happens due to unforeseen happenings for home realtors as well as buyers.
The Internet has taken over the challenge to transform the real estate industry into the digital world. More than 95% of customers prefer to use the internet for searching properties. Real estate property websites use many attractive features to invite more customers and thus grow their business while extending top-level services. Virtual reality is the technology that helps the client to virtually visit properties and experience immersive, three-dimensional walkthroughs of properties. This saves you time, travel expenses, energy waste and can visit more sites in far less time. Potential buyers or renters can virtually visit dozens of locations and decide which are worth visiting in person and can have a better decision-making process.
The practical uses of virtual reality in the real estate industry are unlimited, but some still have doubts about whether or not it is worth it. Here are the biggest benefits that virtual reality provides to real estate agents.
This is probably the biggest benefit – virtual reality saves time for both buyers and home realtors. You can avoid traveling to just see the property you are interested in. Instead, virtual reality takes you to a three-dimensional tour of it. Real estate agents can conduct virtual tours at their office where homebuyers can visit houses and apartments at any time without wasting realtors time.
Virtual tours of houses and apartments help your clients view each property. Unlike personal visits which can be rushed, VR home tours allow the potential buyer to focus their attention on details. Virtual house tours can create an emotional connection with the property just as if they were experiencing it in reality.
It is extremely time-consuming and there is a limited reach possible in the traditional real estate deals. Virtual reality can change this. Realtors can work more productively taking buyers through virtual tours avoiding unnecessary travel. Global properties are virtually available to clients around the world which maximizes the property reach.
It is expensive to create 3D virtual tours, but evaluating the investment in traditional real estate marketing, it is a solid investment. Virtual reality helps you save a lot of money and making a guided video tour requires just a panoramic camera and basic rendering.
Making the client decide to sign the deal is a challenging task for most of the real estate agents.
VR home tours allow clients to virtually visit properties that establish a sense of personal connection and ownership. There are lots of interactive add-ons such as mortgage calculators, information about similar properties, and descriptions of neighborhoods. This will help your clients gather information related to the intended property before taking a real visit at the site.
Virtual reality technology has already started to transform the real estate industry. Commercial Real Estate Property Realtor in Jonesboro AR, Halsey Thrasher Harpole is developing virtual tours for some of their properties. More real estate agents are likely to use the benefits of VR to make their work more efficient.
The simplest forms of virtual home tours are easy to create using 360-degree videos and photos. Virtual reality is transforming real estate industries than any other sector in a very productive manner.
Commercial Property or Commercial Real Estate refers to buildings or land intended to generate a profit. Commercial real estate is considered a more stable investment than other types of real estate due to the lease lengths, which are often several years or more. Commercial real estate is different than working with residential real estate which is classified by its use into many categories. Residential real estate deals with single family homes, duplexes and small apartments. But commercial real estate will be dealing with office buildings, retail stores, warehouses, and more.
Classification - Office buildings are usually loosely grouped into 3 categories: Class A, Class B, or Class C.
Class A buildings are considered the best of the best in terms of construction and location. Class B properties might have high quality construction, but with a less desirable location. Class C is basically everything other than the above two types.
Investing in Commercial Property Real Estate:
There are two main ways to invest in commercial real estate.
The first is to invest for rental purposes. Commercial real estate leases are longer in length, meaning they are more stable investments for unstable markets. Your investment should be fairly safe if your lease term is not up yet when the market takes a dip. Investing for the rental income is often the more lucrative path in commercial real estate, especially if you have a Class A or Class B building.
Another way to invest in commercial real estate is to invest in property appreciation. Because the businesses who rent out commercial buildings mainly rely on location to make a better profit, and because real estate in prime areas is limited—the value of commercial buildings appreciate rather rapidly. This is especially true if you get into a lucrative location before it gains popularity. Investors looking to use the appreciation as their investment should know that the market for this type of investment is a bit riskier than the rental market.
Flexible financing – When it comes to the commercial real estate, you get several flexible financing options. In fact, you can even buy huge commercial properties without actually using any of your own money.
Leases tend be longer – three, five or ten year leases are quite common in commercial property. Ideally, this means the owner won’t have to deal with the costs associated with bringing in new tenants so frequently.
Peace of mind – With an on-site maintenance, it gets peaceful for the owner as well. If it is an office building, you only have one tenant to deal with during business hours, and there may be limited maintenance calls during off hours. Commercial properties often come with a lease agreement where the tenant is mostly responsible for the maintenance of all the assets, or any ongoing property expenses, including taxes, along with paying the rent and utilities.
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Time commitment. If you are the owner of a commercial retail building that has multiple tenants and subtenants and you have got a lot more to care for than you would have had for a residential investment. You cannot be an absentee property-owner and get the most out of the return on your investment when you have multiple occupants.
Maintenance Cost. With commercial, you’re likely to deal with yearly CAM adjustments, (Common Area Maintenance costs, which tenants are in charge of) public safety concerns and more maintenance problems.
Commercial Real Estate in Jonesboro AR for rentals and sales of commercial property and buildings. We are one of the leading commercial real estate groups in Jonesboro AR.
