It is no longer news that real estate business is a
lucrative business not only in Nigeria but anywhere in the world. Every year,
Billions are made from this business.
Intermediary:
This is perhaps the most common form to enter into a real
estate business. An intermediary is the one who links a buyer to a seller or a
seller to a buyer of real estate properties. They act like middlemen and they
are generally known as real estate brokers or real estate agents. A broker
earns a brokerage commission for every successful deals. You need to be a
licensed broker in order to taste the real wealth of this business. The
licensing norms for real estate brokers are different in different countries.
However, many people who venture into this line of the business don’t have
their licenses in Nigeria. To be very successful in this business, you
must have good contacts and network.
A property management business helps those land and property
owners who either have no time to look after their property or do not have easy
access. Even businesses need property managers to look after their real
estates. As a property management business, your role could be everything
related to acquiring and maintaining a real estate including all paper works
and rent collection. This is a low investment business and could be well run if
taken seriously.
Investing:
Some people take real estate investment as a core part of
their business. Real estate investment business involves purchasing of real
estate and then selling and renting for profit. The returns are huge but you
need huge investment too. Arguably, it’s not for someone who has just started
his / her career, unless won a big lottery.
Property Development:
This is again a big business. A property development company
plans out a real estate project, buy land, finance real estate deals and then
get builders to build the project. The business is to provide space for housing
and commercial purpose. It involves new construction as well as renovation of
existing properties.
More
Business Ideas In Real Estate
These are business ideas in the real estate industry that
most people around you can recommend. As any industry grows, it encounters many
more business ideas that are more specific and sometimes innovative. Given
below are real estate business ideas that are a bit diverted ones, but you can
always consider to start small wherever you are.
Real Estate Expo: Take real estate to events
and start a business of organizing real estate expos. Start locally and help
meet real estate buyers and sellers in your city. The participators could be
real estate companies, agents, banks, property insurance companies, etc.
Real Estate Magazine: A magazine publishing business
can be started providing details of all real estate related news in the city
along with a listing service. This can be done both online and offline. You can
earn from advertising and other promotion campaigns as well as giving leads
just like a broker.
Painting & Repair Service: To venture into this
line, you need not be a painter or do repairing of any kind. What you’ll do is
to find the right skilled workers. Market your service wherever possible with
the help of agents and house equipment dealers and you’ll be up and running.
What’s more?? The terms ‘domain real estate’ and ‘internet
real estate’ that I stated earlier are nothing but web properties. A domain
name, a website or a blog having a good web rank and whose traffic is
consistently increasing can be treated as a virtual real estate.
Just like real estate auctions, there are auction sites for
domain names and websites too. Some people are also making money buying and
selling catchy domain names at unbelievable prices. Hence, this part of real
estate is a different game. Tweaking the concept a bit, some also consider real
estate investment schemes to be virtual real estates!
Oluwatomiwa
Afolabi
Comments
Post a Comment