How to Start a Real Estate Business in Nigeria

How to start a real estate business in Nigeria

Real estate business is a lucrative business in the country; its a type of business anyone can venture into. If you venture into real estate business, it is likely for you not to go broke again, because it's a profitable business.

These days people buy lands, the reason is because a land is a type of asset that never depreciates, till the world turns to an end.

Real estate business is a type of business that can fetch you a lot of money Every year, it all depends on the location.

How much can you make from a real estate business?

You can make a whole lot of money from it. I have heard of someone that bought a plot of land for the sum of #150,000 two years ago.

Some times this year, he sold that same land for #400,000. That means he earned double of the money in 2 years, don't you feel that is profitable?

If you want to go into real estate business in Nigeria, make sure you make double of the money you invested within some few years.

Real estate is not a get rich quick business, but if you take your time to market your land very well, you will make a decent amount of money as time goes on. If you go into real estate business, you will be exposed to other business opportunities like land flipping. This system is common in Nigeria, it is the act of buying land orproperty at a low price, and you sell it at a higher price, and you will make a lot of profit.

 You will also have an estate agent that will be the middle man between the buyer and the seller.

Who is an estate agent?

An estate agent is someone that will help you get buyers for your land, and he or she gets his own cut from the amount you sold the land.

Now let's talk about how to start a real estate business in Nigeria.

Here are the best steps for starting real estate business in Nigeria

(1) Business plan

Every investment needs a plan first. If you want to venture into Real estate business, you will need to create a plan for it. The business plan will help you highlight how the market will be.

(2) Register the business with CAC

Real estate business is a type of business that also needs to be registered under the cooperate affairs of Nigeria. If you don't register your business under CAC, the government will disturb you. 

Every business In Nigeria needs to be registered under CAC. Once your business is registered under CAC, you will have the full right to do whatever you want to do with your business. You can also connect with other estate developers in Nigeria.

(3) Make research

You really need to know how the business works; you will have to make research on some various things. Like making research on the profitable part of the business.

 It is importing for you to make research on the one that you want to go for and you also need to know the big players in the real estate sector.

(4) Work on a brand

Working on a brand is very important; you need to create an image And reputation for your business from the scratch. You can start by sharing handbill; you can also publicize your business on TV stations, radio station, newspapers, blogs, billboards and many more. You will also need a business logo.

(5) Make sure you have an online presence

In our modern days, things are getting easier with the use of the internet. Creating an online presence for your business helps a lot.

It is essential to have an online presence for your business why because the internet is filled up with different types of people, both wealthy, poor, and middle class.

You can create an online Presence by having different types of social media account like a facebook page, twitter page, Instagram page, or even a blog. These platforms will help your business reach out to lots of people within a short period.