Real Estate Business Plan in Nigeria – Becoming a Successful Real Estate Agent
Real Estate business in Nigeria is very lucrative – provided you know your way around it. This is why several people have delved into the business over the years. For instance, an acquaintance of mine recently sold a particular property for 40 million naira, and his take-home commission was 2.8 million naira. Another relative sold a 6-bedroom detached duplex in Abuja for 130 million naira and got about 13 million naira as commission, from that single transaction alone!
Also Read: Building Materials Business Plan in Nigeria
Now you see it?
Real estate business is a huge goldmine. The commissions earned can be so high, especially when you sell expensive properties in exclusive locations. More so, real estate business is arguably one of the cheapest businesses to start and run in Nigeria.
Lagos, Abuja, Port Harcourt and indeed all our major cities are currently experiencing some form of population explosion. This means that there will be an increase in the number of people looking for houses – whether for sale for rent. This phenomenon alone highlights the massive potential and lucrativeness of real estate business in Nigeria – if only you play by the rules.
The fact is: real estate agents earn up to ten percent of every purchase or lease their customers make. For example, a real estate agent who assists his customer in purchasing a house worth 100 million naira will get a whopping 10 million naira as commission – for just connecting a seller with a good buyer! In addition, prospective customers can pay a fee for inspection before you take them anywhere to see some property.
Thus, if you fall into the category of those who wish to become real estate agents, this article is for you; and you will need to adhere to the following guidelines:
- Write a real estate business plan – For N20, 000, we will send you a sample real estate business plan in Nigeria. You can use our business plan for bank loans, grants, and business plan competitions. To place order, pay N20,000 to:
BANK NAME: GUARANTY TRUST BANK (GTB)
ACCOUNT NAME: CHIBUZOR TOCHI ONYEMENAM
ACCOUNT NUMBER: 0044056891
After payment, send the following details via text to 07033378184.
Depositors Name
Your email address
The title of the business plan you paid for (i.e. real estate business plan in Nigeria pdf)
Your business plan will be sent to your email within 10 minutes after payment.
- The same way you research on the industry of your prospective business establishment, there is a need for you to research on this industry as well. You need to discover its features and components, how the system works, what makes it tick, the regulations bind the operation of agents in specific locations, etcetera. You can learn from those who have been in the system for a long time and whose real estate businesses are flourishing, or subscribe to be mentored by successful real estate agents. You can also get books on the real estate industry. Any method you apply, getting sufficient information will position you for success in this industry.
- Ensure that your real estate agency is legitimate and accredited. Business accreditation is very vital, more importantly in an industry like this. Register with the Corporate Affairs Commission to get licensed to begin business operations. Also register with the relevant associations and bodies that oversee the operations of the industry in Nigeria. One of such associations is the Real Estate Developers Association of Nigeria (REDAN).
- Select a location where your office will be situated. This place will be your administrative centre. Customers will meet with you here, and transactions will be made and decided upon from your office. Choose a location that is both popular and easily accessible. You might be harming yourself if you choose to put your office in an interior or rural zone with little or no access to civilization. For start-off, a property of 2 rooms would do. You don’t really need a tower to start, and you can choose to expand as time goes on; so minimize your expenses.
- Save money. If your research was thorough enough, you should have got an idea of what it will cost to start out on your desired scale. Due to the many uncertainties accompanying new businesses, it is not advisable to take a bank loan to start this business.
- Promote your business. In Nigeria, one very good way you can advertise your business is by verbal publicity. Ask your customers to tell others about your services. However, you should know that this is only possible if your services are good enough to give your clients a good impression of your business. You can make business cards and stickers, and you can also place ads in newspapers, magazines, flyers, etc. Social media is Social media is also a viable option too. You can advertise on Facebook, MySpace, Instagram, Twitter, and etc.
- Get a website for your business. Well, the truth is that businesses that have no websites innocuously have no intentions of lasting long – talk less of succeeding and conquering their respective industries. In this age, a number of prospective clients would most likely be surfing the internet for authentic real estate agencies to transact with. Get yourself a professional website designer and an SEO Specialist to give you an alluring and smooth-running website.
On the long run, your passion for the job and your willingness to learn all the technicalities of the industry determine if you will become a successful real estate agent or not. One great way to succeed in this business is to provide real value to your customers. That way, you will remain on top of their minds, and they will most likely contact you for future transactions.
Check out these few tips on how to get to the top of the game:
- Subscribe to be mentored by a successful real estate agent.
- Be punctual and effective in your meetings with your customers.
- Maintain honesty and transparency in your dealings with your customers.
- Ensure that you have the full details of every house, plot of land, store, or whatever property you want to offer to your clients.
- Make use of technology. Social networks provide a good avenue for publicity. Get on Facebook, GooglePlus, Twitter, LinkedIn, Instagram and the likes. Update your statuses to reflect your occupation as a 21st century real estate agent.
- Maintain good inter-personal relationship with your clients. They will learn to trust you.
Hurry now and buy your own real estate business plan in Nigeria! To order now, pay N20,000 to:
BANK NAME: GUARANTY TRUST BANK (GTB)
ACCOUNT NAME: CHIBUZOR TOCHI ONYEMENAM
ACCOUNT NUMBER: 0044056891
OR
BANK NAME: FIRST BANK PLC
ACCOUNT NAME: CHIBUZOR TOCHI ONYEMENAM
ACCOUNT NUMBER: 3066880122
After payment, send your name, email address and title of business plan (e.g. real estate business plan doc) via text to 07033378184. Your business plan will be sent to your email within 10 minutes after payment. Thank you.
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