If you have considered removing yourself from the dreaded workplace grind and beginning your own business, you are already one step ahead of today’s society in terms of your taking charge of your financial future. By starting your own business, you are not allowing anyone else to affect the direction of your fiscal growth. This means no more layoffs, firings, or pay cuts in most situations.As a business owner, you will control your own future. However, finding a legitimate home based business can be difficult to do, considering all of the online scams out there. There are a couple things you can do to avoid these types of scams which are all over the Internet. You could either start your own business from scratch part time while working at your current job or do some research on existing companies. Here are a few ideas to get you started.Figure out what interest you. Maybe you have a marketable skill that you can start from home. Computer repair, baking cakes or cutting lawns are examples of businesses that can be started at home.Research is important when it comes to legitimate home based business opportunities. Begin looking up specific programs or companies, you are interested in to find out information about them. There are many types of reviews online by people who have used various programs or courses to rate them. Instead of searching on websites, the best place to confirm if it is a legitimate home based business is on the online open forums. The reason for this is because most people in these forums are participating in discussions, rather than trying to boost their own affiliate sales, thus posting a fake review will certainly get the business poor reviews.By outlining what you plan to do, you are planning for success in the future so this is highly advised. Starting your own business means crunching numbers when there is an investment to be made, but in the long run – it will certainly be worthwhile.Never underestimate the knowledge or the drive that is in you to succeed in spite of what the economy is doing. Understanding your market and giving your clients more than they expected can and will payoff in the end. In the case you want to start your own legitimate home based business, you need to gather things like your portfolio, materials, equipment, time, sweat equity and make a plan for success.
Geo Tracking, Location Based Marketing and the Home Based Business Owner
Geo Tracking or location based marketing is a relatively new social media platform that allows small business owners to engage and reward their customers. Home based business owners have different concerns for safety and promotions than those small business owners that operate a store front.Three tips for using location based marketing as a home based business owner:1. If you are a home based business you must use your own discretion on deciding if you will participate in listing your business on the various location based marketing sites. Remember, social media is about “compound friending” so friends of friends will see that they are at your business and know where you are located. If you meet with clients at a public place consider using that address. Encourage your clients to sign in for their outdoor fitness class or program.2. You can still reward your customers by using Merchant Circle coupons, Twitter Coupons or other various applications. Do you have a referral or rewards program? As a home based business owner you can encourage loyalty by having a rewards program. It is OK to let your customers know that you appreciate their loyalty. You may offer a program where after so many purchases they get an item for free or receive a discount. Incorporate a discount day. You can use social networking to promote a product or discount on a certain day of the week such as Twitter Tuesday and provide a discount for your Twitter followers or Facebook Friday for your Facebook followers.3. If you are a home based business owner you can still actively participate in location based marketing. Use this as an opportunity to promote other business owners and engage them in conversation. Use it as a rapport building tool or use it to keep an eye on the competition. Review what your competitor who has a store front is offering.Location based marketing is growing. Is your business ready to embrace this new avenue to promote your business online? Are you ready to let your loyal customers help you promote your business by increasing your online presence? When you employ my three tips for the home based business owner you will be able to make the decision that is right for you and your small business.
Real Estate Auctions – The New Land Rush
On a sunny afternoon in Florida, an energetic crowd gathers on the lawn of a high end luxury estate. A loud and eager banter between an auctioneer, a group of bidders and bidder assistants fills the air. For several minutes the auctioneer asks for the next highest bid and the bidders respond. Suddenly the bidders grow silent. The high bidder holds his breath in anticipation of winning the auction. The auctioneer calls for one more bid. In a loud clear voice which rolls over the audience he says, “Fair warning, last chance” the auctioneer pauses, “SOLD!” And in less than 10 minutes another multimillion dollar estate has changed owners.
Successful real estate auctions like the one above are happening all over North America and the Caribbean. Recently real estate auctions have been on the rise, the increase in popularity is partly driven by growing inventories and fading buyer confidence. Properties that were selling in weeks using traditional methods are now languishing on the market unable to attract buyers even as seller’s lower prices. Many say the real estate boom is over but savvy buyers and sellers are profiting from real estate auctions.
Real Estate Auctions Work in Up or Down Markets.
Regardless of trends or market cycles, real estate auctions provide an open and transparent process for buyers and sellers. Properly conducted real estate auctions attract ready and willing buyers and motivate them to act now.
The auction method removes the “wait and see” attitude which serves to further depress real estate values. Buyers are always concerned about overpaying. Buyers gain confidence with their purchases at real estate auctions because they can see what others are willing to pay.
When market demand is high and inventories low, real estate auctions can deliver selling prices well above what a willing seller would have accepted in a negotiated private treaty sale. In good selling climates many property owners using traditional real estate methods; negotiating with one buyer at a time, leave thousands of dollars of equity on the table. During up markets real estate auctions are the best way to establish top market price.
Evaluating Your Real Estate for Auction
Not every property or seller for that matter makes a good candidate for auction. First of all sellers must be ready to sell now and for the current market value. Also a real estate auction will not fix problems caused by a downturn in market value of your property, if you owe more than a willing buyer will pay, be prepared to come to closing with your check book.
Properties that do well in real estate auctions have a high uniqueness factor. Ask your self, “What makes my property different from most others?” Maybe you own a resort property or high end luxury home, commercial properties and land do very well at auction. Real estate auctions thrive on uniqueness. If your property is like everyone else’s, the best thing you can do is offer the most competitive price.
Most importantly sellers must be reasonable about setting a minimum bid. A seller must look at the lowest, most current comps and price below that to generate the interest and urgency necessary for a successful real estate auction. Once the auction begins and qualified bidders start competing against one another you can watch the selling price increase.
Locate a Qualified Real Estate Auctioneer
Start by checking with the National Auctioneers Association, the best real estate auctioneers belong to this organization. These real estate auctioneers are well trained and adhere to a standard of practice and a code of ethics. Many attend the annual International Auctioneers Conference where the latest techniques and innovations in the real estate auction industry are presented.
Find out if the company you are interviewing is a full time real estate auction firm. Many real estate agents are getting auction licenses yet have no experience with the auction method of marketing. Conducting a successful real estate auction is nothing like (private treaty) traditional real estate sales. Go with a real estate auction pro.
You’re probably better of with an auction house that specializes in real estate auctions. There are many qualified auctioneers who have generations of experience selling personal property; furniture, dishes, lawn equipment and the occasional rare painting. Selling real estate at auction is a complex matter that should only be attempted by full time experienced real estate auction professionals.
Commissions and fees may vary, sellers must pay all marketing expenses up front and buyers typically pay 10% of the sales price to the auctioneer of which a share goes to participating real estate agents.
Types of Real Estate Auctions
Auctions are effective because they create a seller’s market. Professionally conducted real estate auctions create urgency, a reason to buy today and competition for the property. Terms and conditions of sale are established ahead of the auction. Real estate auctions will follow one of these three approaches:
Absolute Auction
The property is sold to the highest bidder regardless of price- using this process often returns the highest sale price.
Minimum Bid Auction
Seller agrees to sell at or above a published minimum bid price – this method is useful for internet auctions.
Seller Confirmation or Reserve Auction
With a reserve auction, the seller “reserves” the right to accept or decline any bids usually within 48 hours of the auction. Reserve auctions are used when there is a lien on the property from a lender or a court ordered sale with a minimum selling price.