Different Sources of Information for Commercial Property
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It is important to know how to get valuable information about commercial properties. When you have details about the asset, then only it is better to evaluate the profitability of the property. See the mentioned slideshow to know about the different sources of information for commercial property.
Different Sources of Information for Commercial Property
- 2. Successful investors know that it is not the asset class that makes one rich, rather the information about the asset helps in making money.
- 3. Thus, if an investor has access to information that is not available publically, then they could trade off of it & gain handsome returns.
- 4. However, getting information in the real estate market is very difficult as relevant information is not publically available.
- 5. Here are the details about the different sources of information for commercial property. Publically available information Hands-on information Information available with mediators
- 7. The real estate sector doesn't have any perfect information system like the stock market or the bond market.
- 8. This is because the real estate sector is very diverse and the investors have to consider a wide variety of factors while investing.
- 9. For example, the price of a property in a completely new neighborhood will be quoted higher in online & newspaper advertisements.
- 10. Consequently when you research more into the market, you become familiar with it and will be able to obtain a better price.
- 12. This type of information is obtained when a buyer actually visits the micro market where he is interested in buying a property.
- 13. The newspapers and magazines can provide you with a base rate or a range within which the prices should ideally lie.
- 14. This information can be gathered by talking to people who have actually been involved in such deals in the recent past.
- 15. The information is more valuable than the one which is available through impersonal mediums like on the internet.
- 17. The next level of information is available with the mediators in the market.
- 18. A buyer has access to a certain level of information even if he visits the market on a daily basis before closing in on the deal.
- 19. The deals that are available in the media are very different from the deals that are actually signed after the negotiations.
- 20. The mediators have access to all the information as they know the details of the advertisement as well as the real deals that are signed.