The role of the cost either for a product or service is set or happens during the negotiation part. The negotiation procedure can be improved if one can achieve the understanding of driving cost. What drives the cost? Usually, there are 2 main factors.
Product Cost Drivers –For instance; if physical product is the main focus, thenfactors to consider that drives the cost are as follows.
- Materials Used –The used material is all about what type of materials and how much quantity of material is used. The cost is going to be on the higher side if the focus is more on the quality and vice versa.
- Components of Product – The product component is all about the type of material, design and packaging used. The cost can come down if and only if the material can be either changed or by simply choosing another supplier.
- Labor Cost During Production – The labor cost is different depending on the manufacturing methods and efficiency rate.
Service Cost Drivers –When it comes to service cost, it is considered to be a little different and complicated when it comes to labor cost. It is imperative to understand the supplier’s process in order to understand the service cost.
- Map the Supplier Process –Before you start to understand the supplier process, it would be easier to sit and talk with a supplier about the process of supplying.
- Allocating Cost for Every Activity –You must first get information from the job boards for the labor prices that will allow you to understand on the cost allocated for all the activities.
Doing a strong procurement course will help you to understand more regarding such topics.
There are many types of courses available for studying real estate investment. There are home study courses, online courses, and books that you can buy to learn real estate investing. The choices can be very extraordinary so it is very important for you to know how to choose the right program for you.
Try searching on the Internet and you can easily find hundreds of courses and e-books. Most will talk about why it is good for you, why it is the best form of investment available. But they don't really teach you strategy. If you are looking for appraiser education (which is also known as takstmann utdanning in the Norwegian language) then you are at right place.
The following is a list of important points that you must learn in the course and this can guide you in choosing the right course.
1) Understand the "reverse property" process. This system is one of the most recommended techniques in real estate investment. This involves buying property below the price, making some repairs and selling at market value in a short amount of time. You need to understand how to choose a property, what to do with it, when to sell, etc.
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2) There are many empty and abandoned houses that you can use. But you need to know how to find the owner and how to find a house like that.
3) You also need to learn how to determine property values. You need to assess the costs involved in renovating or repairing. Some investors use the help of professional agents to help them calculate property values. This can be expensive so it will be better if you yourself know how to value a property.
4) Another important thing you need to learn is how to sell to potential buyers. There are several strategies on how to make your presentation attractive to buyers. For example, investors and insurance agents invest a certain amount of their income in training courses on how to improve marketing and presentations to influence more buyers. The way you present your offer is very important in closing a transaction.