Joined: 27 Nov 2019
|Posted: Wed Nov 27, 2019 1:55 am Post subject: Starting a Real Estate Business
|Real Estate Business is a profession of buying, renting out or selling of properties such as land, homes, buildings and apartments for commercial or personal use.
Therefore, anyone involved in any of the profession listed within the definition is in a the real estate business.
First thing to remember, success in real estate does not just come overnight; it require hard-work and dedication.
In order to start a real estate business, here are the important steps needed to operate a successful real estate business in Nigeria. That is to say, the following are real estate business tips.
Decide on the type of real estate business sector you want to get into
Get the necessary government license required
Knowledge is power, educate yourself
Develop a business plan
Create a real estate marketing strategy
Embrace technology ? Create a website to showcase your property
Budgeting play an important role ? Create a realistic budget
Network with others in the same industry
Advertise in the industry advertising platform
Develop customer loyalty
Now, as a new person in the industry, you should consider:
If you have big ideas, strong business plan and a great track record, then you can get a partner who has what you don?t ? money. The person can provide the funding while you stay on the managing aspect of the business. You should also discuss how profits will be shared. Make it a win-win for your partners and make it happen.
Another form of partnering is by investing with a building contractor. If you lack some skills such as carpentry and plumbing skills, to fix up and resell a property, you can partner with someone who has these skills and could help with the down payment. Once you make a profit on the sale, you will have the down payment for your next real estate investment.
Talk to people (word of mouth):
There is no money needed to get a deal under contract or locating deals for investors. You can help people find deals, then you can have people who will be willing to fund your deal, or better still, you might have gradually made money to buy your own property.