Monday, 5 February 2018

How To Start A Successful Real Estate Business Agency In Nigeria ▷

Real estate business and landed properties is the only business that will always appreciate and won't depreciate in terms of the price value.

This article contains quick and easy steps on How To Start A Successful Real Estate Business Agency In Nigeria.

The truth is that real estate business is one business people hardly venture into because of the risks involved,real estate business is not for the faint hearted,so if you cannot take risks or avoid the necessary risks,then you should probably stay away from real estate business.

Like any property located in any state in Nigeria,you can have problems like another individual claiming ownership of your property, government policies, stubborn tenants refusing to pay rent,vandalization Etc

How To Start A Successful Real Estate Business Agency In Nigeria

How do I start and become a successful real estate agent in Nigeria?

1. Precise Target

Real estate business is vast and has different areas,you have to target and determine the type of people you want to target as your potential customers. Eg the elite, average-income earners or low-income earners,upper middle class Etc

2. Research

You have to carry out your research on how real estate business operates in Nigeria,know about the risks involved,the players and decision makers of the Industry,be familiar with the laws that guide the operations of the real estate business,learn how to work smart,affiliate yourself with people that already have the experience.

Having basic knowledge about real estate will help you succeed faster.

3. Business Plan

In other to be a successful real estate agent in Nigeria you must sit down and write a strategic business plan.

A business plan is a formal statement of business goals and plans of what you want to achieve within a specific period of time.

Writing a good business plan will give you a precise direction of where your business is going to and might even attract sponsors and investors. 

4. Registration 

Register your real estate business  with the Corporate Affairs Commission and obtain a valid certificate to operate as a business in Nigeria.

Also affiliate yourself and your business with associations and agencies that oversees operations of real estate business in Nigeria. 

An example of real estate association is REDAN - Real Estate Developers Association of Nigeria.

5. Rent An Office 

No one will take you seriously if you don't have a physical office. 

Get a well furnished and an organized office facility,That will send the right message to your clients and investors.

6. Loans 

Real estate business is capital intensive and unless you have enough money,you should consider to apply for loan from your bank. 
If you know you do not have enough money, then it becomes imperative that you try and contact banks that are willing to give you a loan in other to kick start your real estate business. long term loans to enable you start.

7. Internet Savvy

You have to have a strong online presence by creating a real estate website because a lot of people search online for real estate business.

Having a functional and responsive website adds to your credibility and shows your client that you are indeed serious you are with your real estate business. 

It will also help to showcase your business to thousands of potential clients daily.

You can hire a professional website designer to design a website for you,make sure that your website has your contact information for inquiries an an about us page in other to be easily contacted by potential clients.

8. Advertisement

You have to advertising your business in other to reach out to millions of people and get noticed.

Place adverts on newspapers, radio, television stations, blogs, google ad words Etc.
Also advertising gives you and extra edge over your competitors.

9. Properties

Since you are into real estate business you should have some landed properties at your disposal.
You should find out means to do this.

See: How To Sell Your House Online

10. Create Souvenirs

Clients like souvenirs and it is also a good way to market your real estate company.

11. Professionals

If you are planning to go big and have enough capital,you can employ the services of some real estate professionals.

You can employ the services of architects, engineers,Office and field staff, marketers,electricians, surveyors Etc on contract and permanently basis.

Other aspects of real estate business you should consider include: 

1. Real Estate Developer

If you have the capital,you can become a specialized real estate agent.

Although being a real estate developer is capital intensive because it involves building of houses and sells to buyers who are interested,it is also very profitable, imagine building a house of N5M and selling it for 12m,that's a profit of N7M.

2. Real Estate Agent

This type of real estate business is less capital intensive infact majority of Nigerians engage in this particular type.

Real estate agents earn a commission of about 30% for every successful deal made.
In Nigeria real estate agents specialize in finding accommodation for clients,selling of lands and properties Etc

3. Real Estate Legal Consultant

You can earn cool cash as a legal consultant if you are familiar with the intricacies,laws and operations of real estate business in Nigeria.

4. Real Estate Blogger 

You can also be a successful real estate blogger,just create a blog that is all about real estate and earn money from advertisement and commissions.

This is a breakdown on how to start and become A successful real estate agent or developer In Nigeria

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