Shearin Group Realty, Inc.: The Importance of Research in Real Estate Development
Research or the process of investigating the veracity, viability or the potential present or future value of a business or scientific proposal is an essential aspect in any worthwhile endeavour. Without research, most of our technological advancement would not have happened. We would not have built pyramids, skyscrapers, dams, rockets and satellites.
Planning to land on the moon must have been one of the most research-intensive activities of any group of humans since time immemorial. It would have had to call upon practically all of our collective scientific human knowledge up to that point before one could come up with a viable model to even shoot humans into the sky and toward the moon. Just thinking of how to feed those astronauts through their weeks-long journey to space without any hitch is one vital aspect of the ambitious project.
But we are merely talking about staking a claim on some parcel of land here on our planet and not on the moon. What must one do to make use of the crucial process of research to succeed in real estate business? In real estate, we talk essentially of values of lands and materials. We talk of fair market values of a certain locality in a particular city or town. A real estate office will have to collect as much data or information on the historical and contemporary prices of lots and houses and buildings and store them in a systematic manner for easy access. That is where you will base all your future valuations of properties. We said “base all your future valuations of properties”. The fair market value of a property will move according to the economic climate as well as the existing trends in property development. People might totally avoid buying in a once-exclusive village because a mall might have clogged traffic flow into the area. Or an elevated highway may have made a certain residential area not only noisy but also visible from the highway. Such personal taboos connected to real health concerns may greatly affect pricing of properties.
There are other data or information that will help any real estate developer gage the value of properties. The prices of construction material and the corresponding labor cost form a big portion of the cost of development. Taken altogether, we have the foundation upon which one can accurately establish a fair market valuation of a property.
Shearin Realty, Inc. knows how to provide its clients with fairly valued properties because of the solid research work its staff puts into each of its transactions.