September 21, 2018
Real estate business all over the world has been known for the fastest way of making cool money, financial freedom and future security. It is a business for everyone in-respective of age, race, and color. As agent, broker, organization or investor, real estate business yield return on investment (ROI) and anyone could venture into regardless of how much money you have to invest or startup as agent and understanding how it works is another major role to winning. Real estate has three major types and it’s a continuous term of the business that has no end buyer and end user.
No matter the type of real estate business that catches your interest there is a tendency of success ahead, but the question is how many people have a full understanding, knowing the pros and cons, and have been able to create a portfolio with full understanding on how it works and where to pitch tent?.
Real estate business in Nigeria has been a secret business for the wise, learned, skillful, certify and knowledgeable enough to understand how it works for decays now and up till date it is still for the learned and highly influential people in our society. Where to pitch a tent, how to invest and where to invest, is crucial for anyone thinking about going into real estate business as an agent, broker or investor. To narrow your area of specialization, it is a must you pitch your tent in one part of real estate business, real estate business is wide, complex and not just what anyone could be a master of all.
Building a lively means on real estate business without the rightful skill, knowing the type of real estate business, how it works, stages involved, what to do at every stage, what to offer and who to offer to is totally a waste of time, fund and skill. As a broker or agent in real estate business, you should understand that all you can provide in this business are services, how you choose to do it and what service you choose to do is for you to decide.
Types of real estate business
Vacant Land/Semi-structured: This is the foundation and bedrock of all real estate, and without vacant land, there is no real estate, Urban part of rural areas are now developing and even competing with the rural structures of 20’s. Pitching a tent on this type of real estate business means identifying the class of service you what to offer, this type of real estate service can be divided into three major parts A) Development B) Sales C) Long or short Lease.
Residential Property: This is the second level of real estate business that is majorly focusing on human shelter and no matter how hard the economy is people can not do without shelter and real estate business is very lucrative in areas like Calabar, Port Harcourt, Abuja, and Lagos Nigeria. Pitching a tent on this type of real estate is a must you know the classes of services that could be administered. A) Management B) Sales C) Long or Short Lease
Commercial property: This type of property covers Hotels, Office, Malls. Halls, Warehouse, Petrol stations, Plant Etc. Investing on properties of these requires a huge sum of money and for brokers, agents the commission are always soaring in percentage at the end of every sale and it is a must you identify where and what can be offered as a service. Under commercial property as a broker or an agent you could the services of A) Management B) Sales C) Long / Short Lease.
As an expert or consultant with the rightful skills, knowledge and vast ability to pitch your tent in any type of real estate business gives you a lead, edge, and niche over your competitors.