Some problems faced in real estate

[Mayox25]

The real estate agent must be knowledgeable about his business. To counter such ridiculous offer he must know the market value of the said property, know the estimate of renovating such property if the condition of the property requires it,he must be conversant with related sales of such property.

 

[greenie]

The truth is that most home purchasers has this high demand or expectations for the kind of properties that they want but they mostly do not want to pay for the kind of house that they desire because they are saving money. This is stressing out most estate agents as they will take out alot of time.
The solution to this is that an estate agent should make sure they are well knowledgeable on the property that they want to sell out.

 

[Ononivami]

It's one thing to struggle to get a good house for clients, it's another thing for the clients to show commitment. This is another problem that is faced by the real estate business.

 

[Sotherefore]

I believe one of the major problem in real estate is dishonesty. Maybe there are others we do not know except people who have experience in the real estate industries can tell especially here in Nigeria

 

[Setho]

One of the biggest challenge is that a real estate investor is always going to face is that seems to not usually go very fast in that area of business. You are definitely going to take some time before you can be able to sell off a property even if you need the money urgently.

 

[tyrim88]

One of the problem in a real estate business is the problem of wrong agent
When you're using a wrong agent in real estate business you will encounter many losses and it will make your business slow, and gradually you will fall and go into debts.

That is actually true,most of the times in our hurry to sell of a property we usually engage the services of agent that are not actually genuine and then we begin to have problems at the end.

 

[Sincerem]

Proper research is absolutely necessary for home purchasers and to know the true value of a particular property before making an attempt to buy. you shouldn't rely on what an agent will say.
Carry out proper research to understand what property you are buying to avoid regret.

 

[Genie01]

The major problems encountered in real estate investment is the prevalence of scams and fraud sellers, it is absolutely essential that you protect yourself by adequately verifying the ownership of the property before finally buying.

 

[Nomad]

You cannot invest in real estate if you do not have a lot of money. You might be able to invest through a bank loan but still you are required to make a 20-30 percent downpayment which is still a lot of money considering the fact that the property might cost $100-$200K.

 

[Shahid987]

Affordability
The cost of housing has increased rapidly, making it difficult for many people to purchase a home.
There is a shortage of homes for sale, particularly in popular urban areas, which can drive up prices and make it difficult for people to find the home they want.
Difficulty in securing financing
The mortgage approval process can be challenging, especially for first-time homebuyers or people with poor credit.
Zoning and land use regulations
Local regulations can limit the development of new homes, making it difficult to increase the supply of housing.
Title and ownership issues
Conflicts over property ownership or titles can arise, delaying or complicating the sale of a home.
Natural disasters and environmental hazards
Homes and properties in areas prone to natural disasters or environmental hazards, such as floods or earthquakes, may be difficult to insure and sell.
Inefficient real estate market
A lack of transparency and inefficiencies in the real estate market can make it difficult for buyers and sellers to make informed decisions.

 

[Shigobad2020]

The market Value is the first problem faced in the real estate business, you have to be smart and always update yourself to know the things going on in the real estate business world .