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REAL ESTATE BUSINESS IDEAS

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.


Property Management:
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!
Posted by Oluwatomiwa Afolabi

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