704c1541862fae7b [google295b743f98001c26.html] These Properties Are Available For Sale In Lagos: How To Start A Real Estate Business And succeed In It

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How To Start A Real Estate Business And succeed In It

The real estate business is an interesting business in the sense that it is a business that...
deals with an essential-Land. Land is an essential business you need land to do a whole lot of things.  There is hardly anything a human being does on earth that you won’t need an aspect of real estate. Right from the day he is given birth to fill the day he dies.

In a chat with Debo adedana,  he talks about the real estate business, what it takes to get started it and how it can be managed with success. The real estate business is a very lucrative. There is money in real estate, it takes a man of strength and wisdom to get it out because it is demanding and requires proper planning and foreknowledge.

Real estate is broad. Some people would have to specialize in helping you get a good property, some specialize in helping you build a good structure, so that doesn’t collapse, some other people will have to specialize in helping you manage the structure once it is built, some other people would specialize in helping you get tenants into the structure, so that it wont be vacant.

Apart from these, some other people just specialize in making sure that your whole property can be rebuilt if you don’t have enough money and over dome agreement, they have it for sometimes and pass it on to you later.

Starting Your Real Estate Business begins with training
I will first of all say that the person should get adequate training from someone who is already established in the business. The person should attend courses, programs and training.

Branches of Real Estate Business
You can divide real estate into two types. Residential and commercial real estate. Real estate is providing houses for habitation while the commercial real estate is for offices, hotel, shopping centers, etc. You can also divide real estate according to the  types of professions.

        (a)  Estate Agent: Agents are people who buy and sell    accommodation. They act as the intermediaries between sellers and buyers of property. 

        (b)  Estate Valuers: Is a person who gives you an estimate of what your property is worth. They give you the current estimated value of your land or property.

        (c)  Developers: Real estate developers serve as an intermediary between the construction of companies that construct the building and the businesses that uses them or the people the people that own the property. In this way developers ensure that newly constructed spaces meet the clients needs. Real estate developers are often property managers as well, and keep operations running smoothly by maintaining the facilities for a period of time.

         (d)  Land Surveyors: Surveying is a vital part of the design and construction process. They perform boundary surveys to tell people where their property is, map the topography of land for engineering design, estate elevations of home sites, perform title surveys for real estate transactions, certify that structures are built according to design.
Also, we have the Quantity surveyors, Architects,, IT, Account Consultants, Financiers (bank), Project Managers, Builders, Investors, Lawyers etc. We can also include all environmental science professionals.

You Can Start Without Capital
You can start your real estate business with next to nothing except what it will cost you to get the training and get the skills. I know some people who started their agency business from the street; they didn’t have any office. They had briefs and they were marketing their briefs. A briefs is a structure that has been handed over to an estate agent to sell, rent out or manage.

Most people think money is the solution to any problem but it is not. It is the creative use of money. Knowledge is the first thing you need, that knowledge will aid you in  getting the money. During the training programme, we can tell you there is a client who needs a two bedroom apartment, so go and look for it and we would have guided you on how to source for the property so you go to town and look for the required accommodation for client. And that is how you start making your money. Really, you don’t need any huge amount of money per se to get started.

Managing the Real Estate Business
Some start the business and employ staff. This may not be the best way to start. When you are just starting a business, you have to be everything. But always have it in mind that the business will expand, so keep record of everything you do. Work with the mindset that someday someone is going to take up these positions, so keep a track of everything. By the time someone resumes for the job, all he needs to do is pick up a file he would be able to function. So I encourage people to do their business in that light.

Treat Your business As a Separate Entity
You should learn to separate yourself from the business. This has to do with finances especially when you are running and managing the business all yourself. Keep personal expenses away from the company expenses.

Carve a niche for Yourself
People struggle to thrive in a very competitive market and of the reasons is because they keep doing the same thing the same every other person does it. The best way to survive and excel in a competitive market is to carve out a niche for yourself. Identify a special need a and learn to provide the best solution to that type of need amongst others.

Satisfying Your customers
We are always particular about creating a niche and giving value to our customers. If you give value your customers will not look elsewhere. In fact, a satisfied customers is the best advert for another one. So customers satisfaction on it’s own is a double point for you if you can provide it.

By that, we communicate a lot with our clients before decision are made after they are made. We give them timelines of when the thing will be achieved and we try to keep to those timelines. We keep them updated with things as they happen. If there are challenges, we let them know. We try to do our best. We keep up with trends.

To your success.
             

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