How To Start Real Estate Broker Business
Starting real estate agent business requires lots of time and commitment. Before starting a real estate agent business you need to have appropriate licenses to conduct business in professional manner such as RERA Agent Registration, Shop Act Registration Etc. With right networking and good services with this combination becoming a successful real estate agent is profitable business. There are three verticals for this real estate business these are Residential , Commercial and land. The agent help buyer to identity a suitable property with clients budget , expectation etc. Agent builds a trust factor between a buyer and builder.Starting a carrier in real estate is low investment cost.
1. Determine Activity Of Profit And Interest Residential Or Commercial
There are three verticals hence you need to identify which veritfcal have suitable demand and good profit margin. There are some of agent who deals in combination of residential and commercial properties. Where your not having any past Experian in real estate business then it’s a goods option to find a mentor and take a valuable advises to run a profitable business. Building a brand is important in every business line. Branding helps your clients remember your business helps to attach customers. Branding is not just a logo its what you say outside world about your services.
2. Determine Market Demand For Your Services
At each point of business your need to identify the marker demand for your business. As lots of factors affect the real estate business and same will affect your service demand in market. Also need to identify who are your competitors in your local are. For which segment such as residential , commercial or land there is goods demand and profitability.
3. Get License Of RERA Agent
Rera agent registration is now a compulsory. Doing a business without RERA agent registration become difficult and may also give invitation for penalty. As per section 9 of “Real Estate (Regulation & Development) Act, 2016 (REDA) read with Rule 11 of above mentioned Rules, Every real estate agent need to take prior registration with RERA authority of Maharashtra before dealing in any transactions relating to sale/purchase, advertising or brokerage of property of a project registered under this Act.
Benefits of RERA Registration
- Build trust between buyer and builders
- Rera registration bring responsibility between agent and investors
- Rera helps to do business in professional manner
4.Build Your Clients
Real estate agent build a relationship with builder and buyer. Agents have goods network with there clients, builder, builders suppliers, engineers and finances. The best way to build network is use personal connections. Also get listed on the renowned websites which helps buyers to buy a property. Some one is always looking to buy a property for uses or for investment purpose. Personal network of friends and family is a good start to build quality referrals. With good services and appropriate fees your clients also become your referral partners to share there contacts to expand your business. This is win win situation for buyer and seller.