A real estate business is a business that involves buying, selling, or renting property like buildings, homes, and even land. Real estate agents assist homeowners, businesses, and investors to buy and sell their properties in return for a commission.
Real estate in Africa is serious business. As a matter of fact, one of the longest-standing industries in Africa is the real estate industry. The industry has become a gold mine over the years, and many smart entrepreneurs have tapped into it and are making tons of profit.
Africans are always in need of residential apartments, office buildings, and commercial outlets. They look to either buy or rent buildings and structures of their choice, and they sometimes need to consult a real estate agent or expert before making their choices.
Cost of Startup
The Real Estate business is one of the businesses you can start with zero capital. What you need to do is to locate a Real Estate and Property company, register with them as an agent, then the company will train you on how to get clients for your properties. The more property you sell, the more commission you will make.
Real Estate is a High Ticket business, so it means you can make enough cash selling one or two properties every month.
Word of mouth: The most tried and true way to grow and market any business is through word of mouth – some entrepreneurs would say it’s more important than all social media.
Organic Method: This is a very good method but it’s a long-term model, it involves building your audience organically without paying for advertisement. While this is a good method, you will likely not get immediate results ( sales ).
Other great organic methods are by sharing your flyer designs, placing your banner strategically at a position where it will attract peoples attention, attending tech, and elite events
Paid Advertising: If done correctly, this is the best method you can use to get sales for your real estate business. Facebook/Instagram and Youtube advertisements are the best to get sales.
Another paid method is to advertise your properties on real estate directories online, blogs, online magazines, sponsored targeted newsletters.
Pros and Cons: This is a very good business for you to earn high revenue, you may only need to sell just two properties monthly to make 6 figures. There are good real estate companies out there that offer up to 10% commission on property sales.
As good lucrative as this business is, you must be very good at marketing and setting up good online advertisements.
Estimated Monthly Revenue: If done properly, this business has the potential of making you at least $700 to $1500 monthly.
Estimated Monthly Cost: In other to make really cool money in this business, there are some expenses ( Investment ) you will incur, they are majorly cost of running your Facebook/Instagram or Youtube advertisement, Logistics, and other miscellaneous spending and it ranges between $150 to $200.