ROYAL LePage & THE MANSOOR NAQVI TEAM: INSIGHTS INTO THE REAL ESTATE
The Mansoor Naqvi Team & The Royal LePage is a company that deals in Real Estate business, i.e. buying & selling of property, property management, evaluations, forecasting, and all sort of consultancy matters that are related to the Real estate i.e. Investments in the property business. Property management is a distinguished field, and The Mansoor Naqvi Team in collaboration with the RoyalLe Page is managing the property business in Canada. Royal LePage is the biggest and most prominent property management company in Canada since 1913, and has made the most contributions in the real estate business.
Property management is the science of managing property from buying, maintenance, looking after, quality assurance and all the matters that relates to the property and its vital management. In property management the key things involved is evaluation of a property, and our surveyors are trained to do the best evaluation, keeping in view the calculations, the wear and tear & the economic conditions. Social conditions of the country, country risk, and all the necessary evaluations that are critical for the future calculations of the monetary assessments.
Our monetary assessment of the property is in collaboration with the RoyalLe Page, which is our partner firm for the evaluation of property, and has been dealing in property management since a very long time.
FACTORS AFFECTING THE PROPERTY EVALUATIONS
There are many factors that evaluate the property evaluations that MBE Real Estate manages and calculates to determine and analyze the property performance. They are also known as KPIs i.e. Key Performance indicators that determine the factors involved in property evaluations. The factors are;
1. RISK ASSESMENT
The risk assessment is the determination of the risks involved in the future sale of property, and also shows how the property price will move down or up depending on the risks involved. We at the Royal LePage & The Mansoor Naqvi Team determine the key factors in the risk analysis.
2. COUNTRY RISK
The country risk is the economic risks associated with the Country i.e. Canada or generally, any other country where the property is located. It determines that how the economic, social and political conditions will affect the property performance, and what other factors are associated with the country risk. Country risks also determines the value of property overall in the country, the laws that relates to the real estate and all aspects that relates to the economic turmoil. With reference to the law, the country risk is also vital in determining the legalities in buying and selling of the property.
3. PROPERTY WEAR & TEAR
The property wear & tear is dependent on the property maintenance, as well as the age of the property i.e. how old the property is, its actual cost and the wear and tear that it has taken mainly due to the lack of maintenance, and following the quality assurance checks. Mostly the companies in the real estate do the checks with all the checklist that is essential for the property calculations, check its cost determining factors i.e. fixtures and fittings, and how it will grow in future.
4. CLIMATIC CONDITIONS
The climatic conditions can vary especially in a huge country like Canada where the climate is cold and can be very cold in certain provinces and rural areas of the country. The places where it’s hard to live due to weather conditions are the ones that most determines the value of the property as such places hold the weather hazards, and the population density is low in those places. Due to this reason the value of the property is low, as the Govt. prefers people to move to such provinces and areas. Property prices relies heavily on climatic conditions, as in the urban areas i.e. Cities, the population is more according to the density, and hence the price of the property is in the high range due to the demand.
5. PROPERTY PERFORMANCE ANALYSIS
The property performance analysis is an analysis that determines how and why the value of the property has moved up and down, and what factors have caused this behavior. Sometimes there is an abnormal change in the pricing mainly due to the changing behavior of the investments involved and the risk investment strategies.
6. PREVIOUS YEARS EVALUATIONS
The previous year’s evaluations are the calculations of the previous year’s terms i.e. last 5 years or 10 years that determines the future cost or value of the property. The property value is significantly dependent on the previous years because the history and the historical price of the property determines how it will perform in the next few years. The buying price is also a historical price and is generally considered while making fruitful evaluations for the future.
7. MARKET FORECASTING
The ‘market forecasting’ factor is somewhat similar to property performance analysis, the only difference comes because what we are determining is for the future, and the future is determined looking at the past performances and making the future forecasts. It can also be termed as speculations i.e. an investment terminology, and determines how the investment will move in the next coming years. The property is taken mainly for the sake of investments and investments are always speculated with the key determining factors involved. As investing in property is a high risk investment as the value is high, and risks can vary due to many reasons, that’s why the decision to buy a property needs an expert advice from the property gurus in the real estate. There is technical knowledge as well that relates with the Market Forecasting, and how forecasts impacts the current price of the property.
8. QUALITY ASSURANCE ASPECTS
Quality assurance is for the maintenance of property according to the Property QA guidelines and ISO standards. These QA procedures determine the property performance, its maintenance checklist for fixtures and fittings, its exterior elements involved and the raw material. All these factors will determine the value of the property and if the property is kept for longer periods, it will also determine how it has been maintained throughout its age.
9. COMMERCIAL/PRIVATE PROPERTY
Commercial Property evaluations differs from private property evaluations as the usage of the property in both cases differ, in commercial the use is for business purposes, and for private investment the usage is more refined, limited and less in value. Commercial property is valued more because of its commercial use i.e. Offices, and govt. property, however, in the private sector the use is limited and absolutely different.
10. MARKETING STRATEGIES
The marketing strategies determine how far a property has been marketed and what value it can hold because of the marketing and advertising factors. Marketing and advertising of property in magazine, newspaper and real time adverts as well as the internet determines how the value will fluctuate, and hence the property evaluations can vary.
11. SAFETY & SECURITY OF THE ASSET
The Safety & Security of the Asset i.e. Property (residential or commercial), also holds vital importance even in a Secure and peaceful country like Canada. Here the country risk factor can also be taken into consideration, but safety and security is mainly from risk of intrusions, risk of fire (hazard), risk of terrorist invasion (terrorism), and other associated risks. All the safety risks assessments are taken care of when determining these factors for future property evaluations.
MBE is in the Real estate business since a long time, and its partner stakeholder firm The Royal LePage has been helpful in providing guidance, and all the related things that are needed to have a sustainable partnership, i.e. a partnership of change & trust. We also deal with the legalities of managing the property, as well as merging it with MBE Business/Commercial & Home insurance just for the benefit of our members. The property business in Canada differs a bit from other countries, the properties are highly dependent mainly on the population density, and there are other risks involved as well. The team of experts at The Royal LePage is always there with the best advice in the property business, as we provide useful consultancies regarding the property evaluations and behaviors. We are experts in determining the behavior patterns linked with the property, and speculations for the future. The benefits we provide to the MBBP members are free consultancy and future guidance related to the property, and then variable measures deep into property management. Condor Apartments are an example of the Real Estate residential apartments that MBE Groups deals in, and we are proud to be associated with these apartments. Our efforts in the real estate industry along with Royal LePage shows in the trust of our Clientele especially Condor Apartments.
We are hopeful that in future MBE Real Estate will be making more inroads into the property market in Canada, and our collaboration with the Royal LePage will be stronger and more result oriented. The CEO of MBE Group Syed Mansoor Ali Naqvi is himself highly acknowledged in the Real Estate business achieving multiple times Brooker of the year award. Real Estate is a very deep & technical field due to its unpredictable nature and the high variances in the property prices. Our focus with MBE Real Estate is to provide the best consultancy to our clients, analyze the client needs properly and guide them to the best available property as according to their demands. We are confident that MBE will be more successful & capable in property management in the future. The field is highly technical and needs more skills with in-depth studies and analysis of all the key variables involved in the Real Estate.