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100+ search results, New listings by Ivan
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IT'S TIME TO EMBRACE EXCLUSIVE LISTINGS OVER OPÈN LISTINGS.
During an online interaction with Shirley Kongai, the President of AREA Uganda, on LinkedIn, she responded to one of my newsletter articles by posting a comment with the exact same title as this blog. Her post therefore inspired me to write on the topic. I "liked" and "commented" on her post, even though her stance contrasts with my "open market capitalistic ideology." Here's why.
Given the current chaos in our local real estate market added to the fact that too many agents are selling the same properties, it's clear that exclusive listings could help solve many of the duplication issues on the Real Estate Database (RED) and other platfoms, which often lead to inconsistencies.
While the traditional model of open listings may offer flexibility, exclusive listings have several advantages that can lead to better outcomes. However, it's also essential to acknowledge the potential downsides. Let's explore why property owners in Uganda should consider embracing exclusi
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WHAT JOMAYI'S COLLAPSE TEACHES US ABOUT REAL ESTATE.
The collapse of Jomayi Property Consultants Ltd, once Uganda's most prominent real estate company, serves as a cautionary tale for developers navigating the complexities of the industry. As the dust settles on Jomayi's demise, it's crucial for other developers to reflect on the factors that led to its downfall to safeguard their own ventures.Financial Prudence and Debt Management.At the heart of Jomayi's downfall lies financial mismanagement and debt accumulation. The company's inability to honor its financial obligations, particularly to NC Bank, ultimately led to its insolvency. Despite entering into agreements and consent judgments, Jomayi failed to adhere to payment schedules, triggering legal action and liquidation proceedings. For real estate developers, this underscores the importance of prudent financial management, including disciplined debt repayment and meticulous cash flow forecasting.Risk Mitigation and Diversification.Jomayi's overreliance on specific assets, such as the
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HOW TO CLOSE REAL ESTATE DEALS IN JANUARY
January marks a time of new beginnings and opportunities for real estate professionals. With the holiday rush behind and a renewed focus on goals, both buyers and sellers are ready to act on their property aspirations. January is an ideal month to implement effective strategies and turn prospects into closed deals. Here's how to make the most of this pivotal month.
Tap Into the "New Year Mindset".
January buyers and sellers are motivated by resolutions and fresh starts. Buyers may be looking to upgrade their living situations, while sellers aim to reposition themselves financially. Emphasize the possibilities of starting the year in a new home or achieving financial goals through a successful sale.
Pro Tip: Use messaging like "Begin 2025 in your dream home" or "Kickstart the year with a smart real estate investment."
Highlight Post-Holiday Opportunities.
The start of the year often brings financial clarity. Buyers may have received year-end bonuses or planned budgets, making t
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WHATS THE DIFFERENCE BETWEEN A REAL ESTATE AGENT, A REAL ESTATE BROKER, A REALTOR AND A KAYUNGIRIZI?
Real estate professionals play a vital role in buying, selling, and renting properties. There are several different types of real estate professionals, each with their own set of responsibilities and qualifications. In this blog, we will explore and assess the main differences between a real estate agent, a broker, a Realtor, and a Kayungirizi.
A real estate agent is a licensed/certified professional who acts as an intermediary between buyers and sellers of real estate. They assist their clients in buying, selling, and renting properties by providing information on the local real estate market, helping to negotiate offers, and managing the closing process. Real estate agents are usually paid a commission based on the sale price of the property.
A broker is a more experienced real estate professional who has completed additional training and passed a more comprehensive exam. Brokers are licensed to manage their own real estate business, and they may supervise real estate agent
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HOW TO EVICT A TENANT IN ACCORDANCE WITH THE LANDLORD AND TENANT ACT 2022.
Renting out property comes with its challenges, and there may be situations where a landlord needs to terminate a tenancy. However, it's crucial to adhere to the legal procedures outlined in The Landlord and Tenant Act 2022 to ensure a smooth and lawful eviction process. This blog aims to guide landlords through the legal steps involved in evicting a tenant in compliance with the Act.1. Vacation of Premises on Termination of Tenancy.When terminating a tenancy in accordance with The Landlord and Tenant Act 2022, it is essential for the landlord to provide the tenant with a notice of termination. This notice should specify the date by which the tenant is required to vacate the premises. The tenant must adhere to this specified date, or any other date mentioned for vacation in the notice.2. Unlawful Eviction of Tenant.The Landlord and Tenant Act 2022 strictly prohibits landlords from evicting tenants outside the provisions of the Act or the terms of the tenancy agreement. Any attempt to f
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A REAL ESTATE AGENCY BUSINESS PLAN, WHAT SHOULD BE INCLUDED?
It's a well-known saying that "failing to plan is planning to fail". As a real estate agent, if you neglect to create a solid plan for entering the industry, it's highly unlikely that you'll achieve success. The real estate industry is fiercely competitive, and without a clear roadmap for achieving your goals, it's easy to become overwhelmed or make costly mistakes.
Therefore, taking the time to develop a comprehensive plan that includes market analysis, service offerings, marketing strategies, staffing, financial projections, and operational procedures is essential for establishing a successful real estate agency. Remember, a solid plan will help guide your decisions, increase your chances of success, and set you apart from the competition in the long run.
Here are some of the key elements that should be included in your real estate agency business plan:
Executive Summary. This section should provide an overview of your business, including your mission statement, target
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THE BEST WAYS FOR REAL ESTATE AGENTS TO COLLECT PROPERTY LISTINGS (OR SELLER LEADS) IN UGANDA.
When new real estate agents (newbies) join the Real Estate Database (RED), one of the biggest challenges they face is acquiring enough properties to be listed in their account. This is especially true for middle-income properties as selling properties online is largely a game of numbers. The more middle-income listings an agent has in their account, the higher the chances of generating more inquiries and leads.
Unlike luxury properties that cater to a smaller and more exclusive market, middle-income properties have a broader audience, and having a diverse range of properties in their account can help agents reach a wider pool of potential buyers. Therefore, it is crucial for agents to continuously focus on generating new seller leads to build a strong and diverse portfolio of properties.Property listings or seller leads are the lifeblood of the real estate agency business. Without them, agents would have no properties to sell, no buyers to attract, and no commissions to earn.
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THE REASONS WHY MANY REAL ESTATE AGENTS FAIL.
Real estate can be a lucrative industry in Uganda, with the potential for great success and financial stability for those who are successful. However, not all real estate agents in Uganda are able to achieve success, and like any other business, many end up failing, lets explore some of the reasons why many real estate agents fail in Uganda.Lack of proper training and education.
One of the primary reasons why many real estate agents fail in Uganda is due to a lack of proper training and education. In many cases, individuals become real estate agents without any formal training or education in the field. This can lead to a lack of understanding of the industry, including how to properly value properties, negotiate deals, and market properties effectively. Without the necessary skills and knowledge, agents may struggle to close deals and build a successful career in real estate.Ineffective marketing and advertising.
Another reason why many real estate agents fail in Uganda is d
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UNDERSTANDING THE REAL ESTATE DÁTABASE (RED) USING AN APARTMENT BLOCK ANALOGY.
The Real Estate Database (RED) is managed in a manner similar to that of an apartment block, with distinct common and private spaces. This analogy provides a clear way for potential subscribers to understand the structure and limitations of the platform.
The RED as an Apartment Block.
The RED portal itself serves as the equivalent of an apartment block, while the related websites and accounts represent individual apartment units, much like those governed under condominium law.
In an apartment building, there are common areas shared by all residents, such as staircases, elevators, the compound, gates, corridors, pillars, swimming pools, and gyms. Similarly, the RED platform has shared spaces, including the WebAdmin, listings pages, and the overall platform infrastructure.
Customization in Private Spaces.
Apartments block also include private spaces within each apartment unit where owners can customize elements like wall colors, furniture, and tiles. In the same way, RED provides
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