Published May 16, 2023, 6:20 p.m. by Violet Harris
Real estate science is the study of the factors that contribute to the success of real estate transactions. It is a relatively new field of study that is gaining popularity as the industry becomes more complex and competitive. The goal of real estate science is to identify the key factors that lead to successful real estate transactions and to develop models and tools to help practitioners achieve success.
Some of the key factors that have been identified as important to the success of real estate transactions include: market conditions, property location, property type, price, financing, and negotiation. Market conditions are one of the most important factors in real estate science. The market conditions at the time of a transaction can have a significant impact on the outcome. For example, if the market is hot, prices will be higher and buyers will be more willing to pay a premium for a property. On the other hand, if the market is cold, prices will be lower and buyers will be more hesitant to purchase.
Property location is another important factor in real estate science. The location of a property can impact its value, desirability, and marketability. For example, properties in prime locations are typically worth more than those in less desirable locations. In addition, the location of a property can influence its desirability to potential buyers. For instance, properties located in desirable neighborhoods are often more desirable than those located in less desirable areas.
Property type is also a significant factor in real estate science. The type of property can impact its value, desirability, and marketability. For example, properties that are considered to be luxury items are typically worth more than those that are not. In addition, the type of property can influence its marketability. For instance, properties that are located in prime locations and have high-end finishes are often more marketable than those that are not.
Price is another important factor in real estate science. The price of a property can impact its value, desirability, and marketability. For example, properties that are priced below their fair market value are typically more desirable to potential buyers than those that are priced above their fair market value. In addition, the price of a property can influence its marketability. For instance, properties that are priced below their fair market value are often more marketable than those that are not.
Financing is another significant factor in real estate science. The type of financing that is used to purchase a property can impact its value, desirability, and marketability. For example, properties that are financed with a mortgage are typically more valuable than those that are not. In addition, the type of financing can influence its marketability. For instance, properties that are financed with a mortgage are often more marketable than those that are not.
Negotiation is another crucial factor in real estate science. The ability to negotiate effectively can impact the value, desirability, and marketability of a property. For example, properties that are able to be negotiated down to a lower price are typically more desirable to potential buyers than those that cannot be negotiated down. In addition, the ability to negotiate can influence its marketability. For instance, properties that are able to be negotiated down are often more marketable than those that cannot be negotiated down.
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have you ever wondered how successful
people became so successful wait well
that obviously was not a very successful
sentence but you get the point today
we're going to talk about success
[Music]
welcome again to a new episode at prop
coach here again with Thank You coach
taco and today like we mentioned before
we're going to talk about success we all
want to be come successful I want to
become successful you want to become
successful I meet so many people that
want to become successful but what is
success what success means to your
business how do you get success now what
I want to talk to you is the science of
success what is it that success actually
means and what kind of formula what kind
of you know you are in a laboratory when
you're putting things together what do
you need to put together to create that
success now in prop coach we have a very
simple formula for that and maybe other
companies or other people won't agree
with that but we have studied so many
successful entrepreneurs real estate
agents real estate people around it that
have created success and it's very
simple there is a science to it if you
take the right steps if you follow the
right procedures you will guaranteed get
success now you must be wondering right
now what is that formula so you want me
to explain it just not a little bit yes
yes okay let's go so step number one in
the science of success is very simple is
everything that you do will start with
an idea yes your brain will come up with
an idea
so everything that you're going to do
and everything you're going to proceed
in life it starts with just a thought
and impulse something you come up with
in your brain all of us get loads of
ideas every single day every single
moment I can get a good idea right now
the question is what are you going to do
with that idea because most of us just
get stuck there I know that you there
what
right now you have a ton of great ideas
really good ideas and you know what
maybe one of them could be a million
dollar idea yes it could be a million
dollar that but here is where most
people already struggle because you need
the second step of the science of the
formula to start making things happen
what means that the first step is the
idea and the second step you have to
multiply that with implementation you
have to put that into action
the only ones of people that I know that
became successful they knew how to take
action so remember you have the idea and
you have to have the right
implementation but here comes the thing
most people think that they're done
there that's where it stops
unfortunately no because I still know a
lot of people you probably know a lot of
people that have an idea and they're
putting in the implementation and
they're still not successful so that is
obviously not the end after science the
formula has actually a second part that
comes after the idea and the
implementation so what is that second
part well let's put it like this if I
have the idea and I have the
implementation that you have to do plus
two other parts of this formula let me
give you the two parts the first part is
you have to work very very very hard on
that idea with the right implementation
you have to work very hard yes you have
to if the action is not enough you have
to work very hard on that action that is
just very simple in success nothing
comes easy you know you have to show you
have to prove that you want to roll up
your sleeves and really take hard action
and it just means you just need to work
very hard on it doesn't mean you need to
work hard till the end of your life no
you just needs to be hard for a specific
period of time and that brings us to the
end of the science yes that you have to
work hard times a long consistent period
of time that's the end of the formula
and usually
people out there in the world they don't
do it for a long consistent period of
time they just do it for a short time
because the first time they have the
idea they do the implementation they
start working hard and then they get hit
in the face and what did they do they
quit they stopped they cannot take the
rejection they cannot take the failure
they cannot take whatever is coming
against them and they just back off and
they just let the idea just blow and
they just move on with their lives and
that is exactly what success doesn't
want in order to have that success you
have to do it for a long consistent
period of time and you should watch all
the great movies you know about the
movie founder you know where where it
explains about the start of McDonald's
or the movie about Mickey meets Walter
you know the story about Walt Disney all
the successes of great entrepreneurs in
the world didn't come easy to have to do
it for a long consistent period of time
let's not think about it you as a real
estate professional you had an idea you
joined the real estate profession
you took the implementation and now
you're in the business but maybe you're
not having this success yet that just
simply means you're missing the last two
parts maybe you're not working hard
enough taking enough action to really
get the success and are you doing it on
a long consistent period of time some of
you are maybe in the business for a few
months maybe one or two years at the end
of the day you need to make the full
formula work in taking the right steps
in creating that success now I hope that
you understand the signs a little bit
because I never was very good in science
but it's just one simple formula so let
me just repeat it to you one more time
any idea multiplied by the right
implementation plus hard work multiplied
by a long consistent period of time will
always lead to success guaranteed
success
oh wait wait wait wait wait anyway weeds
sorry I cannot let you go yet because I
want to talk one more thing it's called
the agent accelerator this is program
that Alex and I have been working on for
trillions gazillions millions and
zillions of seconds we have spent a
whole lot of time creating this program
to help you accelerate in your real
estate business so if you are excited to
learn more about this just go to the
link below all the information is there
ok that's it thank you
[Music]
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