If you are looking for a profitable business to start in, the real estate business in Nigeria will do a great justice because this part of the world is still in its infact development state meaning there are lots of untapped feature investments that will keep fetching lots of money even 50 years to come.
Starting a real estate business in Nigeria will not cost you very much due to the fact that the lands in the country are not sold at a high cost and you can get land in a developed area where you can purchase and state your real estate business in Nigeria.
Meanwhile, if you d not have the money to purchase land or develop an already available and to structure, you can do you your real estate business but in this case, an agent that finds houses for people.
How it works is that you go around looking for a comfortable house people can occupy, when you get this house, you can contact the owner to inform him or her about someone’s interest in living in the house, reach an agreement with him or her then proceed in talking with the person in order to finalize your deal.
1. Locate a good site where you can develop your structure
The basic of the real estate business is to provide housing accommodation for people in need of it and in turn they will pay you. House is one of the top 3 human basic needs for survival and without it, life is not complete, not everyone can afford to build a house so the result in renting one by those who have already built their own house, when they are being accommodated, they have to settle the owner of the house with the adequate agreed amount so that the agreement will still hold.
Building your house in a very good location is a very important thing to do because it helps you earn more money due to people will be willing to pay more when the site is located in a good environment.
There are man things which are considered in real estate business, these things determine the kind of profit you are going to make out that real estate business or that particular structure you have build, it’s better to make the best decision when starting, making the wrong decisions can drastically affect your real estate business in Nigeria.
Access to good road
If your building has direct access to good roads, it will greatly influence the price of your house, people love living near good roads and will be willing to pay extra when that can be provided to them
Constant Electricity Supply
If your house is located in an area that has a constant electricity supply, people will really pay more money, steady electricity is one problem Nigeria have. am not sure that the electricity problem will be fixed anytime soon, so to make extra money, build your house in areas that try to give steady electricity
Access to clean water
If you can provide clean water in your house then count yourself lucky and a made person. People do not want to stress themselves about water, if they can get that your house, then they will be willing to pay the price that will secure the house for them.
Security
If your building is secured and is located in a secured environment, then you are good to go. The rate of insecurity is high in Nigeria, people want to be safe in their homes, and they want to sleep with two eyes closed. Having a house located in a secured area will do you great justice.
2. Apply Strategy In Your Real Estate Business in Nigeria
You need to apply strategy in your real estate business, this strategy needs to be straightforward and plain. many other people are going into this business as well.
You can formulate your own strategy you feel will work out for you, treat your tenant well and make them happy by providing things that make living easy, attend to their needs all the time and make sure you provide a clean and habitable environment for them to live without any complain.
3. Look Our For Good Houses For People
If you do not have money to build your own house, it is best to look out for places people can live comfortably, there are people who look for houses where people can not be able to live and then collect money from them knowing fully that the person in question won’t be able to habit in that kind of environment.
be sincere with your dealings because it will really haunt your reputation and can damage your business of you apply corny and inadequate kind of behaviour into the real state business in Nigeria.
4. Register Your Business
Registering your real estate business in Nigeria is a great step to follow, you will not only have a stand you will also gain people’s trust and confidence in you. Registering your business should be the second thing to do after you have accepted to go into the real estate business in Nigeria, it shouldn’t cost you much if you go through the correct source of business registration.
Follow all the legal steps in business registration, acquire all the documents that prove your real estate business has been registered in the system of the Nigerian government, get all the necessary signatures needed then proceed with other things.
5. Build Your Real Estate Brand Uniquely
Building your real estate brand uniquely will really cost you lots of time but it is worth it, be sure to read and put all the effort you can into building your real estate brand so that it will flourish as you expect it to be.
Spend most of your time planning on making your real estate business better by seeking advice from those into that business already and making you grab the best knowledge as you can.
Conclusion
The real estate business in Nigeria is a very good place to look into when you want to start a business, make sure you follow the steps listed above so that they will help you. Do not forget to share.