Published in Apr 10, 2019 by Gary Silber
Believe it or not, when it comes to buying a property, the term itself is pretty vague. There are thousands of individuals who are researching new listings on the market every day. From condos, houses, mansions, apartments, and mobile homes, there is a filled list of jargoned terms that realtors use to sell property. Even though many people have heard of these words, you would be surprised that most individuals, even some realtors, don’t really understand the legal meaning of these properties.
At Panda IDX, we desire for all of our realtors to understand the true meaning of properties to show to your clients. When a realtor joins the Panda family, he or she will have another opportunity to grow his or her business in a stellar manner. Within this article, we are going to address the true meaning of selling and understanding the characteristics of mobile homes and the land beneath them.
Mobile Homes: “You have no idea…”
When a realtor or pretty much anyone thinks of a mobile home, he or she might think of a trailer park. But that is not the full story. The main classification of a mobile home is a prefabricated vessel that can be transportable, emphasis on “can be,” in a certain area or a designated land. In other words, some mobile homes look like regular small houses, but their foundation is not locked to the ground permanently. This key feature significantly reduces the cost of living in one of these mobile homes. This creates a safe haven for individuals, who are on a budget, to live nicely.
When a realtor joins Panda and finds a potential client looking for mobile homes, the realtor should know about the risks of buying a mobile home and living on a park for his or her client. When a person buys a mobile home, the individual needs land for their home. Most commonly, this is done on privately owned land designed for mobile home owners to live in a community by paying a monthly fee. Now this fee, at first, might seem small for most mobile home owners once they first established residency. But there is a shocking event that is happening to mobile home parks.
Large investment corporations, who make billions of dollars a year, have decided to take advantage of one of the least affluent sectors in the United States. A lot of mobile home parks are being bought from private owners, whom genuinely are trying to make a living, from these money-monsters, and strategically raising monthly fees. Some of the fee increases can be up to 50%. There causes a drastic problem for mobile home owners. Now some of you readers might think, that mobile home owners should move, but that another huge problem. Moving a mobile home can cost thousands to tens-of-thousands of dollars to move. Even though these homes are classified as mobile, it takes a lot of money, energy, and time to move these structures. Therefore, if home owners are struggling with the new fee increase, there is no way for these owners to move – they are trapped.
That is why we want our realtors to be informed with this article when purchasing our vast-amazing-outstanding-super-cool-out-of-this-world IDX platform. So, when a realtor gets a new client from Panda’s resources, such as social media integration and access to off-market listings, he or she will be informed about mobile homes if a client is interested in one.
Now that you are well prepared about the hidden features of the mobile home world, it is time to take the next step in growing your real estate client business. Come visit Panda today at www.PandaIDX.com