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How To Start Your Own Real
Estate Business
In Nigeria
These days, real
estate is
considered to be one of the most profitable and growing
businesses. In the Nigeria of today, you can make a lot of money
by starting a real
estate business,
whether as a real
estate agent
or as an investor
Nigerians are always in need of residential apartments, office
building, and commercial outlets. They look to either buy or
rent buildings and structures of their choice, and they
sometimes need to consult real
estate agent
or expert before making their choices. This explains why the real
estate industry
abounds with business opportunities and has been ranked as the
5th largest contributor to the GDP of Africa’s largest economy.
With an ever increasing population growth, Nigeria is a prime
investment destination, a ready market for various investments;
tech, financial services and real
estate investments.
 Real
estate business
is unarguably one of the most lucrative businesses in Nigeria.
More and more Nigerians are now exploring real estate
investment opportunities because shelter is one of the basic
human survival needs. An average real
estate agent
earns up to 6/7 figures in a month while real
estate investors
earn a whole lot more! One good thing about real
estate business
is its hedge against inflation; it gives you a good return on
your investment.
The real
estate business
is a growing market. According to Property Deal
Zone, Nigeria’s real
estate market
has a value of N59 trillion. This is four times and more than
large as the Nigerian stock market with a market value of around
N12 trillion.
Over the next 20 years, analysts expect that the value of global
investable real
estate will
grow by an average of 5.2% annually to exceed $85Trn. The
investment rationale for owning real
estate remains
attractive, with macroeconomic shocks and political forebodings
regardless.
Nigeria’s real
estate sector
is booming, offering a wealth of opportunities for both career
and investment. Many real
estate professionals
operate in Nigeria, each with unique skill sets and
responsibilities. Real
estate agents
help potential buyers find suitable locations to purchase or
rent and help sellers market their properties. Property developers
are responsible for developing residential and commercial
properties with an eye towards profitability. Investment
consultants advise on potential investments in the real
estate sector,
while property lawyers
handle legal issues relating to property transactions.
Finally, real
estate brokers
act as middlemen between buyers and sellers, helping facilitate
deals between the two parties. With many options available,
finding a rewarding career in Nigeria’s exciting real
estate industry
is easy.
Partner:
If you have big ideas, strong business plan and a great track
record, then you can get a partner who has what you don’t –
money. The person can provide the funding while you stay on the
managing aspect of the business. You should also discuss how
profits will be shared. Make it a win-win for your partners and
make it happen.
Another form of partnering is by investing with a building
contractor. If you lack some skills such as carpentry and
plumbing skills, to fix up and resell a property,
you can partner with someone who has these skills and could help
with the down payment. Once you make a profit on the sale, you
will have the down payment for your next real
estate investment.
Talk
to people: There is no money needed to get a deal under contract
or locating deals for investors. You can help people find deals,
then you can have people who will be willing to fund your deal,
or better still, you might have gradually made money to buy your
own property.
It is advisable to consider the location carefully when choosing
an office space to rent. It is best to choose an area that is
easily accessible to clients and has a conducive environment for
conducting business. Renting a space in a high-end location may
seem attractive, but it could affect your finances, especially
if you are just starting.
Another
cost-effective option for real
estate business
owners is to operate from a virtual office. This means that you
can run your business from home or
any location without the need for a physical office. However,
you would need to factor in the cost of utilities and internet
services, which could add up in the long run.
Watch
out for the rules and regulations guiding professional real
estate bodies
in Nigeria to ensure that you are not operating against the law.
Some of the popular real
estate professional
institutions to watch out for include; Association of Estate
Agents in Nigeria (AEAN), Real Estate
Developers Association of Nigeria (REDAN) and Nigerian
Institution of Estate Surveyors and Valuers (NIESV).
Which
Type of Real
Estate Business
is Most Profitable?
Due to their potential for increased income flow, commercial
buildings are regarded as one of the best categories of real
estate investments.
Marketing
and Advertising Costs: After setting up your real
estate business
in Nigeria, you will need to reach out to potential clients to
make sales.
Marketing and advertising play a significant role in this
process, as they enable you to showcase your services and
properties to potential clients. One of the most cost-effective
methods is social media marketing, as it allows you to reach a
large audience at a low cost. You can create social media
profiles for your business on platforms such as Instagram,
Facebook, and Twitter, and use them to post pictures and
information about your properties. You can also engage with
potential clients through these platforms and answer their
questions.
To be successful in the Nigerian real
estate market,
one needs to put in hard work, dedication and strategic
planning. Staying updated on industry trends, building a
reliable team, networking and leveraging technology can help in
achieving success
Real
Estate Riches.
This basic guide will equip you with the knowledge and
information you need to acquire to start your own very
successful real
estate business
in Nigeria.
Click here to fill our application form:
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One on one practical training with ongoing support
from our resource person. Well-crafted training
initiatives aim to close skill gaps, thus boosting
individual performance. The success of this program
reflects our shared commitment to creating a better
future for our participants The trainees are evaluated
at the end of the training period to ascertain the
reliability of such training so as to assist in the
provision of necessary instrument needed for starting
the business or trade. Training is built on an active,
experimental and practical learning sessions. Our expert
advice is unique, actionable, and impossible to
replicate. No one else can provide the tailored insights
we offer, designed specifically for your success
.Imagine having a roadmap tailored just for you, guiding
you step by step toward your
career goals. Attendees will receive certificate
of participation at the end of the Training
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Our motivation is to see every Nigerian benefit from our
Unique Income opportunity, specially focused towards a
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connecting them to new ideas and skills
Browse through our highly resource information
over 500 Business ideas.
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This guide is designed to help business people including Micro,
Small and Medium Scale Entrepreneurs navigate the legal and
regulatory considerations relevant to starting-up and doing
business in Nigeria.CLICK HERE |
Creating
multiple streams of income can be a strong way to improve
your personal finances. Whether you’re trying to boost your
savings or build toward a goal, this is a move that many of
the most financially successful Nigerians make.CLICKHERE |
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