Ask yourself why you wish to start this kind of biz
When planning to start your own biz of selling houses online or selling offline, or marketing houses and other properties, you first have to determine your main reason on why you want to do it. Many people, when asked the question, will surely answer that they are in it for the money; however, setting up your own business for money is not enough. You should also have passion as one of your reasons. Remember, if you don’t love what you do, no matter how much you earn, eventually, the residential property development business you’ve set up will fall apart.
Have enough capital for business advertisements, paying employees, etc.
When starting a real estate business, you should also have enough budget for capital. You see, there may be expenses you have to pay for such as advertisements for your business, salaries for employees (if any), and so on. Whether or not you’re selling houses online, or marketing some properties ‘offline’, you should have extra money for gas expenses, transportation costs, and so on, specifically for visiting the properties for sale, touring prospective buyers, and so on.
Investing in ‘first impressions’ is also important in any residential property development business. In other words, you should be dressed smartly and properly, look professional, and even complete a sales and marketing course, communication skills courses (for interacting with prospective clients), etc, which means that you also have to shell out money for those things, to ensure triumph in setting up your own business.
Gain enough knowledge on the real estate industry
Anyone thinking of starting a real estate business should also see to it that he or she knows enough about the industry. You should know about the different types of real estate e.g. residential, commercial, for sale, for rent, and so on. You should also find out which property you should invest in based on your capital, the earning ranges you desire, your interests, etc. For example, when you’re into selling houses online, do you go for houses that are intended for middle class families, or do you prefer offering properties for the wealthy e.g. mansions, resort properties, and so on? Remember that if you don’t have enough knowledge, then, you’ll find it very difficult to earn substantially from your residential property development biz.
Learn about the various Web and Offline marketing strategies
Starting a real estate business, or any other type of biz for that matter, also requires you to know about different marketing strategies, whether offline or online. Setting up your own business will not be complete if you don’t apply marketing/promotional strategies that enable your biz to attract a lot of people to check out your business and your offered services.
When selling houses online, you can try these marketing strategies: article marketing, e mail marketing, link exchanging, blogging, website building, and many more. Offline promotional/marketing techniques, on the other hand, that you can utilize include: listing your biz on the Yellow Pages, advertising on newspapers, property magazines, etc.
Steps to Follow:
When planning to start your own biz of selling houses online or selling offline, or marketing houses and other properties, you first have to determine your main reason on why you want to do it. Many people, when asked the question, will surely answer that they are in it for the money; however, setting up your own business for money is not enough. You should also have passion as one of your reasons. Remember, if you don’t love what you do, no matter how much you earn, eventually, the residential property development business you’ve set up will fall apart.
Have enough capital for business advertisements, paying employees, etc.
When starting a real estate business, you should also have enough budget for capital. You see, there may be expenses you have to pay for such as advertisements for your business, salaries for employees (if any), and so on. Whether or not you’re selling houses online, or marketing some properties ‘offline’, you should have extra money for gas expenses, transportation costs, and so on, specifically for visiting the properties for sale, touring prospective buyers, and so on.
Investing in ‘first impressions’ is also important in any residential property development business. In other words, you should be dressed smartly and properly, look professional, and even complete a sales and marketing course, communication skills courses (for interacting with prospective clients), etc, which means that you also have to shell out money for those things, to ensure triumph in setting up your own business.
Gain enough knowledge on the real estate industry
Anyone thinking of starting a real estate business should also see to it that he or she knows enough about the industry. You should know about the different types of real estate e.g. residential, commercial, for sale, for rent, and so on. You should also find out which property you should invest in based on your capital, the earning ranges you desire, your interests, etc. For example, when you’re into selling houses online, do you go for houses that are intended for middle class families, or do you prefer offering properties for the wealthy e.g. mansions, resort properties, and so on? Remember that if you don’t have enough knowledge, then, you’ll find it very difficult to earn substantially from your residential property development biz.
Learn about the various Web and Offline marketing strategies
Starting a real estate business, or any other type of biz for that matter, also requires you to know about different marketing strategies, whether offline or online. Setting up your own business will not be complete if you don’t apply marketing/promotional strategies that enable your biz to attract a lot of people to check out your business and your offered services.
When selling houses online, you can try these marketing strategies: article marketing, e mail marketing, link exchanging, blogging, website building, and many more. Offline promotional/marketing techniques, on the other hand, that you can utilize include: listing your biz on the Yellow Pages, advertising on newspapers, property magazines, etc.
Steps to Follow:
1 Decide whether you want to become a real estate broker or hire a broker. Either way, a broker must be in charge of the real estate side of the business.
2 Decide if you want to purchase a franchise or start an independent real estate company.
3 Find a location to set up your business. A real estate company should have high visibility from a busy street, as people often come into a real estate office on the spur of the moment.
4 Get a business license from your city or county. Find out what other requirements there are for setting up a new business.
5 Contact the local board of realtors and become a member. Membership will give you access to the latest laws and regulations in the industry.
6 Become known in the community by joining local real estate agent tours.
7 Become a member of the local chamber of commerce.
8 Hire real estate agents. Choose agents who have the same goals and work ethics as you do.
9 Get listings (properties to be sold).
10 Market your company and your listings.
