8 Tricks To Help You Get Real Estate Deals
It seems like an eternity to get real estate deals in Kenya. However, with the proper guidance and mindset, you can get high-quality deals for your real estate business.
This blog explains the tricks to help you get more real estate deals in Kenya. We specialise in helping as many people as possible to start and manage property businesses in Kenya.
We also allow you to list your property on the site for free, and we can also help you find a reliable real estate agent, whether buying or selling.
What is a Real Estate Deal?
A real estate deal is a transaction between two parties to purchase, sell, or lease a property. The terms of a real estate deal are in a contract, which both parties sign.
Real estate deals can be complex, so it’s essential to have a clear understanding of the terms of the agreement before signing any contracts. Ensure you understand the purchase price, the down payment, the mortgage interest rate, and the other terms of the deal before signing.
What Are the Simple Tricks to Get Real Estate Deals?
1. Understand the market
Understanding the real estate market will help you know when you’re getting a good deal and when you’re being taken for a ride.
For instance, if a property is sold during the buyer’s market, you will likely get it cheaper than one listed during the seller’s market. Therefore, it’s essential to research the current market trends so that you don’t fall victim to costly deals.
2. Add value
Another trick to help you get real estate deals is improving your property’s value. For instance, you can buy a low-quality house and renovate it to include new features. As a result, you’ll resell the property at a higher margin. However, you should do your maths on the renovation costs to ensure you don’t make little profits.
Alternatively, you can search for a real estate deal in an updated property. In this case, you don’t have to renovate the property as it will already be up to current standards.
3. Be active
The more you show up, the more likely you will get noticed. For instance, if you show up as a real estate investor, you will get in touch with people selling and buying property in different areas of the country.
You can ask your network to update you whenever there is a good real estate deal to close. Always ensure you have a reliable real estate network that can contribute to your success in the property business.
You can also create social media profiles explaining your role as a real estate investor. You are more likely to attract sellers when they know you are a frequent property buyer. In addition, an excellent social media presence also bulbs your credibility as a real estate investor.
4. Go Digital
Everything around us is turning to the digital world. The online market is taking Kenya by surprise, with many items available at doorstep delivery across the country.
As a result, a larger percentage is turning to websites, social media pages, and mobile apps to search for whatever they need. That doesn’t leave property buyers and sellers. That’s why you should digitise your property business to be available for those searching for your services.
You can create a website and optimise your blog content for search engine visibility. Furthermore, you can send cold emails to established brands that will likely give you better real estate deals.
5. Don’t be afraid to take risks
Sometimes, the higher the risk, the higher the returns. Real estate and any other investment contain lots of risks. Even farming has its share of risks. Can you imagine planting seeds worth over Ksh 50,000, and you hope they’ll germinate? Well, it happens, and those huge risks tend to have the highest returns.
Take, for example, you get a very good deal on a property near a parastatal. However, you know the government can claim that land due to some misunderstanding on maps and leave you with nothing. But you take the risk of buying the property anyway.
Once you take calculated risks, you can make money from things that most people fear associating themselves with.
6. Don’t be afraid to negotiate.
Feel free to walk away from a deal if you’re not getting what you want. Remember, you want the best deals, right? Well, you may get a better deal, but you can push more to get the seller to cut some costs for you.
After all, you’ll not get the discounted price if you don’t negotiate with the seller. Remember, your main aim is saving as much money as possible to spend on other valuable things.
7. Have a good team in your corner
A professional real estate network can help you get real estate deals whenever they arise. Always aim to build your network to ensure you are up to date with all listings in your area.
You can get your team by attending seminars and workshops involving the community and real estate investors. In those seminars, you’ll know property lawyers, buyers, sellers, lenders, and valuers.
8. Explore other markets
Sometimes, the best deals are the ones that are a little out of your comfort zone. For instance, if you are used to investing in the Nairobi real estate sector, you can try investing in other towns like Mombasa or Nakuru. Diversification will help you get more real estate deals in different areas.
Finding the best real estate deal is the key to your success in the property business. If you find the right property in terms of location, size, and price, you’ll reap high returns on investment.
We can help you find the best deals in the Kenyan real estate market, whether you are in the country or abroad. We have access to the best real estate agents in the country who will help you get good deals in property investment.
Frequently Asked Questions
1. How do I know the right property to buy?
The right property should be in a growing location, have the current house features, a reasonable price, and spacious rooms. However, it depends on what you want to use the property for. The priorities in a home are different from income properties.
2. What rights do I have as a property owner?
Once you become the new property owner, you have the right to possess, control, enjoy and dispose of the property however you wish to.
3. What should I not tell a real estate agent when buying a property?
Never tell a real estate agent about your finances and how you plan to invest in real estate. Don’t show them you have lots of money to dispose of because they’ll not find the best deal for you.