HOW TO START A REAL ESTATE BUSINESS

Real Estate Business Ideas

Do you know that there are niches within the real estate industry that are untapped? Are you interested in starting a real estate business or investment but you lack the huge capital required to startup?

Then you need not worry as I will share with you ten real estate business ideas you can start this year with little or no money? If you are ready to learn, then read on.

Are you wondering how you can maximise your income in the housing industry? Well, there are a lot of ways you can promote your real estate business and ensure a good amount of profit. Most people are aware of the various investment and business opportunities in the real estate industry but they are unaware of the hidden niches.

Real estate is serious business. The real estate industry has become a gold mine over the years, and many smart entrepreneurs have tapped into it and are making tons of profit. We all know that in Nigeria, cost of Land and houses can only appreciate, that means one hardly looses in real estate. 

People are always in need of houses and buildings, from "dormitories, popularly called "face me i face you''  to luxury mansions, average duplexes, small flats, office buildings, and warehouses. They look to either buy or rent buildings and structures of their choice, and they sometimes need to consult real estate experts or consultants before making their choices. This explains why the real estate industry abounds with business opportunities. People no longer go from house to house asking if there is a vacant room, or going from one industrial estate to the other looking for warehouses to lease. They simply contact a realtor who already knows where all the nice and affordable house are.

If you are eyeing the real estate industry and are looking for a suitable opportunity to tap into, here are 10 options you should consider.

Top 10 Real Estate Business Ideas and Opportunities

1. Real Estate Development or Construction

Real estate development or property development, is a multifaceted business, that encompasses activities that ranges from the re-lease and renovation of existing buildings to the sale of improved land or parcels to others and purchase of raw land. Real estate development is considered being different from construction, although many developers seems to construct. Now if you have the financial muscle and a good team, then you can venture into real estate development or construction. But first you need to know the current prices of building materials in Nigeria  so that you won't be ripped off by your building engineer.

2. Real Estate Management Company

Now for those who don’t have the financial muscle to venture into real estate construction, you can still play in the industry as a real estate management company. In this case, it will be your company’s job to maintain and manage your client’s property on a commission basis while still making sure the cash flow from the property stays positive.

3. Real Estate Appraisal Business or Valuation Company

Real estate appraisal, land valuation or property valuation is another niche within the real estate industry that you can tap into. Now it is a known fact that you can never know the true value of a property by mere looking at it. Before a property is bought or sold, the buyers and sellers will like to have an estimate of what the property is worth. You can start a business around this niche and become an estate valuer or appraiser.

4. Start a Real Estate Agency or Brokerage Firm

This aspect of business in real estate industry involves/engages on letting of property, sale and purchase of Real Estate Assets on behalf of clients. They are involved in listing properties for sale. Real estate agencies hit balance satisfaction between buyers and sellers, as they approach each sales opportunity with victory-victory.

A real estate broker/real estate agent is considered to be one who acts as an intermediary between sellers and buyers of properties and makes an attempt to discover sellers who wish to sell and buyers who wish to buy.

5. Mobile Technology

One unique idea that is included in the top 10 real estate business ideas is the leveraging the use of smart phones to provide support to real estate clients. Through it, you can effectively communicate with existing clients that will make your service fast and promote your business to potential customers through information dissemination by text messages. It also enables you to store vital documents and access the internet making it very handy. Since most phones have these features, you wouldn’t have to spend in buying another mobile phone.

7. Real Estate Blogging

You can also create blog accounts for your real estate business and others. in return, you will be able to talk about your services and access a number of online users; while keeping them informed about developments in the real estate industry. Customers and clients can also comment and give suggestions in your blog that will give you a chance to gain their views and answer their concerns immediately. There are a number of sites like WordPress.com offering free registration for starting entrepreneurs.

8. Architecture

Architects draw and design houses and other structures before they are built physically. Architecture today has taken a step forward by now involving the use the use of 3D design software packages such as AutoCAD. If you have a knack for designing jaw-dropping buildings and structures, then you can make money by helping people come up with great designs. And you don’t even have to be a qualified architect to get started.

9. Real estate mobile apps development

Real estate mobile applications have taken the real estate business onto people’s phones and tablets, as they provide a one-touch access to for-sale or for-lease buildings and landed property. This way, mobile apps connect potential buyers with real estate brokers and developers. If you have a solid background in programming, consider developing a real estate mobile app that allows real estate developers and brokers to list the property they are looking to sell.

10. Online real estate marketing

Another smart way to make a killing in the real estate industry is to offer online marketing services for real estate brokers and agents. This way, you will be helping them run online marketing campaigns through various channels such as social media, display advertising, search engine optimization and so on. If you have a solid background in online marketing, then focusing on the real estate niche is a great idea.

11. Interior design-: Interior designers are those who beautify the internal aspects of a house. You too can decide to join the train of those who specialise in designing spaces in people’s homes and earn a living from it—provided you have the passion and required skills, but first, before venturing into this ensure your presence is already known in the real estate. Like they say, Jack of all trades, master of non. You are also encouraged to learn how to venture into interior decorations.

12. Property styling-: Property stylists are professionals who prepare buildings for sale or rent. Once a house or other type of building is available for sale or rent, property stylists are called upon to add finishing touches to it to make it aesthetically appealing to the customer.

13. Personalized Services

Nothing beats the idea of personalizing services for customers. It is necessary that you recognize individual differences among clients and be sure to offer a variety of services that will suit their unique needs. They might want a different color for their house or a different size for their windows. Be sure to offer opportunities for adjustments whenever possible.

14. Renovation and Repair

In the past years, there have been a lot of incidences of natural calamities that destroyed homes. It will be a good idea if you will offer repair and construction services alongside your real estate business. This growing market will surely bring profit to your company.

15. Going Green-: Green architecture is a trend that has been dominating the scene. A home that is both environment friendly and is designed to help in lowering electric consumption can be attractive to customers. Make sure that your homes provide such features.

The list of business opportunities in the real estate industry is endless, but if you have the required capital, know how, and passion, then you won’t go wrong with any of these 10 ideas.