Hello friends, are you looking to start a business? If “yes” then real estate business can be a good option for you. Let us tell you that Real Estate Business is related to buying and selling land, plot, shop, house, office etc.
That is why this business is one of the most promising business areas in a big country like India. According to a report, the value of this business was 120 billion US dollars in 2017 and by 2030 it will increase to 1 trillion. In today’s time, Real Estate Business is spreading very fast in India, due to which today everyone wants to invest in this field.
We know that after knowing the above information, now you are also thinking about starting a real estate business. If your answer is “yes” then today you are reading the right article. Today in this article we are going to know in detail about how to start a real estate business, its cost, profit, license and terms and conditions.
What is Real Estate?
Friends, before knowing about real estate business, it is very important for you to know what is this real estate. Nowadays in a growing population, everyone needs a house to live. In the desire of the same, a person buys a house, land, house, shop and after buying it, his official participation is called real estate.
What is Real Estate Business?
If we talk about its business, then the purchase and sale of any land, house, shop, house or any such physical property under it is called a real estate business plan. At present, due to high population growth, this business is working very fast. Most of the people are moving from village to city. Due to which big flats are being built and sold rapidly in the cities. You can guess this from the fact that before the flat is ready, booking is done in advance.
In big cities, factories and offices are built and sold and big needy companies buy these places for their offices. Most of the government property also comes under real estate. Many times, government property is built and then sold and its contract is also given to big contractors.
How to Start a Real Estate Business
Friends, before starting a real estate business, it is very important for us to get complete information about it. Only when we know all the aspects related to it well, we will be able to do this business well.
Choose a place for real estate business
When you have educated yourself, understand that you can do this business and have made up your mind. Then you choose the field that you want to go under. There are two types of categories under this. One is residential and the other is commercial. You have to decide which one you want to work for. Which field do you want to go in out of these two and for this you will have to study about both the fields. You can work in the one which you have more interest and understanding out of these two.
Make good contacts with people
Friends, as we have already told you that contact works a lot in this business. The more contacts related to your status you will be able to do this business in a better way. Therefore, try to always meet good and big businessmen and industrial people. This will not only increase your contacts but people will also know you. If anyone needs business property or any kind of property, he may contact you.
Arrange investment in real estate business
If you start any business, then money is required for it. Similarly, money will also be required to start Real Estate Business.
In this business, money is mainly required to open an office, make contacts and market your business.
However, it is possible that you may not get many customers in the beginning because most of the customers prefer to go to such real estate businessman whom they already know or whose relative knows them.
So if you want to be successful in this business, then you will have to invest something in it. If you invest in all the three things mentioned above, then gradually your business will start growing.
Get information about your area
If you want to start Real Estate Business in your city, then for this you should have good information about your city.
I mean that you should know which land is there in your city and you should also have information about vacant land or plots etc.
It may take you a lot of time to get all this information or you may also have to visit the Municipal Council. But if you have all this information, then it will benefit you a lot in business.
License to start real estate business
Keep in mind that no matter what business you start, you need many types of licenses for it.
If you do any business without these licenses, then legal action can also be taken against you. In this, you may also have to pay a financial penalty or you can also go to jail.
So if you want to start your Real Estate Business, then before that you will also have to take some licenses. Like – RERA, GST number, trading license etc.
Along with this, if you have not made your PAN card yet, then make it necessary. Keep in mind that apart from the license mentioned above, you may also need some other permission from the local administration.
Real Estate Business Card
You must have seen many times that when you go to a big shop or a businessman’s office, they give you a small card to contact you again. These cards are called Business Card.
So if you want to start your Real Estate Business, then for this you will have to get your business card made. So that your customers can contact you again when they need any work.
When a customer comes to your office and asks for your number to contact you again, then if you give your business card instead of the number, then it also has a positive impact on the customer.
Decide your place of work –
Expansion is very important to sustain any business. When you have started a real estate business, you should not be confined to one place or just one place and decide an area for yourself. Because by staying in that area you can see different markets. As you must have seen that the head office of any company is at only one place but its branches are at many different places.
In the same way, you can do this real estate business. Once you start your work and people in the market know you, your business will also grow and this business will run very fast.
Things to consider before starting a real estate business
- First of all, take complete information from any customer who comes to you to sell his house, plot or house. Such as name, address, mobile number, maximum and minimum price for selling the property etc.
- If their house is vacant, then you can take the keys of the house from them so that you can show the house to the buyers. But if they live in it, then there is no need for you to take the keys.
- If they have an empty plot, then you just have to see where that plot is and what is its size? etc.
- After taking all this information, decide how much your commission will be in this? So that you do not have to face any problem in future.
- After this, you will get other types of customers who want to buy a property from you. Instead of telling them directly about the land, ask them something cool or hot and then start a light conversation.
- After this, you should know what kind of property the customer wants and his budget. Accordingly, you should start telling your customer about the land.
- Before this, make sure how many options you have according to the customer’s choice. Present some of those options and if they do not like any of them, then give them other options. You can also show them more or less than the budget but the difference should not be much.
- If they like a property, then you will have to show that house. If you have the keys of the house, then you should go and show the house yourself.
- If someone lives in that house, then first inform them on the phone and then show the house with their permission.
- Now if the customer likes that house or plot, then your next step will be to transact the money and keep your commission. Along with this, you will also have to do all the necessary paperwork for buying and selling the land.
What is the work in real estate?
Real estate business involves buying and selling of property, which includes buying and selling of houses, flats, office space, shop space, factory space, and other types of real estate. And that is why if someone wants to make a career in this field, then there are many career options for him.
Conclusion
In this article we have told about How To Start Real Estate Business in 2024? Although starting a real estate business may seem difficult for once. But if you work with a good plan keeping in mind the steps mentioned above, then you may find this business easy. If you liked this article then do not forget to share it further, thank you for reading the article!
