HOW TO MAKE MONEY FROM REAL ESTATE BUSINESS IN NIGERIA

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Have you ever thought of working as a real estate agent but have no idea where to start? And do you know that contrary to popular belief, you don’t need a degree in Law to start working as one?

Do you know that a real estate agent can earn up to a million naira per month?

The real estate industry in Nigeria for instance is valued at over 6.5 trillion naira, and real estate agents are at the center of it; discovering new properties, facilitating property transactions, and of course getting paid handsomely while on these.how to make money from real estate business in nigeria Contrary to what many people think, joining this booming industry is not restricted to people of one sex, age, ethnic or educational background.

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A 25 year old Igbo woman who trained as a nurse can join with the same ease as a 55 year old Yoruba man who trained as a bricklayer.

All you need is a good knowledge of the area you choose to operate in, and the ability to communicate this knowledge to your clients.In other words, as the job of a real estate agent is basically helping property buyers and renters find properties, and helping property owners find buyers and renters for their properties, a real estate agent should have a lot of information about the area where these properties are in order to be able to promote them to the outside world.Do you already have in mind an area where you would love to work as a real estate agent? If yes, how much do you know about buying, selling and renting of real estate in this area?

Below are 5 steps to becoming a successful real estate agent in Nigeria.

Contents

1. LEARN ABOUT YOUR PLANNED AREA OF OPERATION

If the area is where you presently reside, then you can start learning about its property market immediately by reflecting on how much you pay per annum on your flat which has a very tiny kitchen and bathroom, and then asking your neighbourhood how much he pays for his own flat which has spacious kitchen and bathroom.

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Gradually you can move over to how much a plot of undeveloped land costs, how much it costs to build a three bedroom bungalow on such land, and how much a newly-built 3 bedroom bungalow costs.

You should talk to property owners and if possible, hang out with someone who is already familiar with the workings of the real estate market.

You should be able to explain why properties are cheaper – or rather costlier, in your neighborhood than in surrounding neighbourhoods as your future clients will definitely want to know why.You should also learn about the schools, shops, barbing salons, etc in the neighborhood and be ready to make informed recommendations when called upon.

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These are the kind of information your future clients will certainly find useful, and you don’t want to disappoint them especially when it can cost you a sale.