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A Guide on Successful Product Creation and Internet Marketing

Product creation in Internet marketing is getting stiffer and stiffer nowadays owing to tough competition between Internet-based businesses. Putting up a new product requires plenty of brainpower and finances along with an ability to take risk. With that, even if you have the product well-set already, you have to position it strategically in the Internet landscape for others to notice. You should get the interest of Web users and turn them to actual customers. Aside from the usual physical products, many different products that thrive well on Internet marketing include E-books, membership sites, and video lectures.

The long and difficult process of product creation begins with ideas. They are easy to get – compared to the effort that comes with analyzing the market for that idea. Before the idea turns to a product, businesses often spend money, even amounting to millions of dollars, to ensure the success of the new product that emerges from an idea. Businesses undertake many types of market research and surveys before releasing their products to the public. Now, you may think that because your business is small, you can’t afford research or you don’t have to do research; you can and you should. The Internet allows you to disseminate materials needed for your market study to many people at once without your having to spend a cent.

It is a common maxim in business: Look at your destination first before mapping out your journey. So what are the goals you intend to accomplish with your product creation ventures? The everyday travails of your business may make you forget the end in sight. On the other hand, prepare to entertain new developments that come to your mind in your product creation. Your conception of a product may have started this way, but a few tweaks here and there along with some market research results and it ends up another way. Take it as the result of a creative process, not as a failure to reach your goal. After all, your product creation activities are intertwined with a long-term goal that you should strive to sustain at your utmost: profit generation. So if your less profitable initial idea evolves to a more profitable product, be thankful!

With your product made up already, start doing some aggressive Internet marketing. A product purchase typically comes after more than five times a customer is exposed to an informative call-to-buy message. Thus it is important to get the contact details, like the e-mail address, of potential customers who are on the brink of a sale. Use the results of your market research to determine the demographics to which you should concentrate your marketing efforts.

With consistent product creation, you can make an inventory of your products that you can market in due time. Just keep making products – the moment you succeed in making and marketing a product, customers are surely wanting more from you, so give it to them. Keep them on your side through constant product creation.

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The Advantages of Having a Property Management Service

Property assets are good. More people are interested in acquiring their own properties be it for residential or business purposes. The real estate industry has made its mark over the years since people are starting to understand just how important it is to own a property. With the way the economy is going these times, it seems that investors are putting their tabs on real estate rather than on paper assets like stocks. It is indeed risky to venture into something that is unstable, so it is better to opt for that one that can give them leverage in the long run.

There is a report that shows evidence that the demand for rental homes continues to rise in many parts of the world. This increase is also seen on different online real estate websites. The rise in the number of interested individuals is due to the fact that real estate is proven to be a sound investment for capital appreciation and rental income. But just like any other kind of investment, real estate entails much serious and thorough consideration before an individual actually takes out his money and invest. Any interested person should know the different aspects of financing, acquiring, and renting out a piece of property. This is not a mere game of Monopoly.

Consulting a licensed investment property management professional or agency is a good step that novice real estate investors must do. The real estate experts or agencies will address anything that concerns properties in detail and this includes loan financing, tenant search, monthly rental collections, and property sale. Property managers are trained to help property owners or even prospective buyers in order for them to come up with the right choices or decisions. They can also assist the owner with legal matters. Certain issues can arise when someone is not that well-informed in this kind of investment. Be it acquiring or selling a property, property managers can help with the marketing and financing aspects. For instance, they can advise their clients which kind of property is the most ideal to invest in given the current economic conditions. Property management experts know how to negotiate with qualified contractors and designers, and come up with the best deals when the owner decides to make renovations for his property.

For those who want to rent out their properties, rental managers can draw up estimations on how much the property can earn income on different terms (10, 20, 40, or 60 years) depending on the client’s preference. They know how to find the right tenant and go through the trouble of making background checks for prospective tenants, which definitely takes the stress off the property owner.

Importance of Agency in Real Estate Transactions

A very critical concept in California Real Estate Law is the disclosure of agencies. In 1987 legislation was passed to protect home owners in regards to the agency status of their real estate professionals.

Agency is simply the relationship between the principle (the seller or buyer) and the real estate professional. In agency, the professional has a fiduciary duty to look out for the best interests of his/her principle. The fiduciary duty is defined as the ‘duty of utmost care, integrity, honesty, and loyalty in dealings.’

There is a form that is used called the Agency Disclosure form (or AD for short.) This is the very first form that is used in every real estate transaction. It has 1 purpose: it discloses (makes openly known) the 3 types of agency that could happen in a real estate transaction.

1. Agent represents the seller only.

In this agency the agent for the seller represents only the seller. He has a fiduciary obligation to get the seller the best price possible for his home. He also has the fiduciary duty to make sure the seller understands all the forms he must sign. The agent serves to protect and promote the seller. In a fiduciary relationship the agent has an obligation to put the needs of the seller first above his/her own needs. He does not have a fiduciary duty to the buyer but does own the buyer the duty of fair and honest dealings.

2. Agent represents the buyer only.

This is the exact same as above except the agent represents the buyer only and has the fiduciary duty to get the home for the buyer at the best price while protecting and promoting his/her best interests. He only owes the seller the duty of fair and honest dealings.

3. Dual agency: agent represents both the seller and buyer

If a dual agency is formed it must be disclosed and agreed to by all parties of the transaction. A dual agency can never be done in secret. This dual status must be known because an agent will know confidential information about his principles. The disclosure forms states that an agent in a dual agency situation must never reveal confidential information to the other party without written permission.

The agency laws were put into practice to protect home owners and home buyers. It establishes that an agent must put the needs of the principle above his own. The law also makes the declaration of who represents who and in what capacity widely known. There are to be no secrets in a real estate transaction.

Dangers of Dual Agency

In most real estate transactions there is one agent representing a seller (aka sellers agent or listing agent) and another agent representing a buyer (aka buyers agent). However, at times, one agent might end up representing both the buyer and seller. This is called dual agency. It is perfectly legal but also can be filled with challenges. In California law, a dual agency status must be acknowledged and agreed to in writing by all parties.

To understand the potential challenge let’s use this as a scenario:
• The house is informally appraised and the fair market value seems to be $270,000
• The seller begins with a listing price of $275,000
• The real estate agent represents both the buyer and seller: a dual agency

It is not unusual in the beginning of the formation of a contract to purchase that the buyer will have his initial offer price and also a back up price in mind. He might tell his agent to offer $260,000 but would not go higher than $265,000.

If this agent represents both the buyer and the seller how does he approach the seller with that offer? He must tell him there is an offer of $260,000 but cannot reveal anything else without breaking his fiduciary duty to the buyer.

Now the seller does not want to sell the house at $260,000 and asks his agent what he thinks would be a good counter offer? Does the agent knowing the house is worth an estimated $270,000 suggest to him to counter at $270,000 and possibly lose the deal? This would be in the best interest of his seller. But he could also recommend the seller to counter at $265,000 knowing the deal would most likely close. This would be in the best interest of his buyer. He could even say, I cannot tell you what to counter it as which might not make his client too happy. The agents’ fiduciary duties to both of them are in conflict.

Other challenges could crop up when further in the process it comes to other concerns; for example, repairs. The buyer might want a carpet allowance. So the agent needs to represent that need. But he also has the duty to get the most money for the seller. This is just an example of another challenge in dual agency situations.

I do not write this to say that dual agency is bad, wrong, or illegal. It can be done and be done successfully. I write this so people understand that agency clarification is important; do not treat it lightly. If you are potentially in a dual agency situation you must consider all the benefits and challenges.

This is why in California (and in many other states) agency clarification is the first form to be filled out in the real estate process. You want to know exactly who is representing who so you do not reveal information to ‘the other side’ accidently.

Let me finish with an interesting twist; 2 different people working for the same broker also creates dual agency. For example, I am with Century 21 Award. We have 14 offices in San Diego and Orange County with 100′s of agents. I work out of the Rancho San Diego office and let us say I have a listing. A person that I do not know and have never met works for our Award office in La Mesa. That agent could bring a buyer to my listing, the buyers like it, and decide to make an offer. This is a dual agency because we both work for the same broker; Century 21 Award, even though we do not know each other and work out of different offices.