Earn money through Real estate business

 

Real Estate Business | Starting real estate business can be a profitable deal.

Real Estate Business – Today, house, land is such a property which not only supports people financially but also gives them an option to make a better career, starting any business always takes efforts. There is a lot of work to be done,

We achieve success only after overcoming many efforts and difficulties. But if we work continuously and with full diligence in any business, then success may be achieved a little sooner. Therefore, before choosing any business, it is most important to have complete information about it.

In today's time, if you are thinking about doing business then you must have heard about real estate business , you can earn lakhs of rupees sitting at home in this business, you just need to know how to do paper work and evaluate the paper. Then you can easily earn lakhs of rupees per month,

Let us know friends, what is real estate business, and what kind of papers have to be evaluated in it, along with this we will know in detail about the real estate market and what is its future etc. 

What does real estate mean? 

“Don’t wait to buy a real estate, buy a real estate and wait”.

Such property which is immovable, and through which a person can earn good profit by selling that property and get good profit from it to grow financially for himself.

What is real estate business?

In fact, many people are unaware of real estate business. Real estate business is a very different kind of business, the percentage of profit in this business is very high and the chances of loss are very less.

But if put in simple words, this business is the business of buying and selling of houses, land, offices, flats etc. One has to sell from one customer to another as per his profit.

You can do it yourself and you can also start work through partnership and tie up. Today, many millionaires are earning millions through this business by running their business on a large scale.

90% of all millionaires go through owning real estate”.

Future of Real Estate Business:

Real estate business in India is making all-round progress, and even today it has established itself as a big and profitable business like other big businesses.

It is estimated that by the year 2025, this business may increase by Rs 2000 crore, which is quite good.

Changes in Real Estate Business:

Many people did not give real estate business as much importance as it deserves. But recently many reforms have been seen in Indian real estate. The implementation of the Real Estate Act has given rise to concepts like Real Estate Investment Trusts (REITs) and title insurance.

Due to these, Indian real estate is now shaping up to become a more transparent and customer-friendly business. This is a matter of happiness for both, whether it is a customer buying a house or property or a person who wants to step into this sector to start a real estate business.

What is the advantage in real estate business? 

In real estate business, you will get 2% legally as per the guidelines issued by the government, this will be given from both the parties i.e. the one who is selling the land and the one who wants to buy the land, both the parties will get 2%.

If you want, then you can take different earnest money from the client, it depends on you how much you deal with both. If a land is worth Rs 20 lakh then both the parties selling and buying will get Rs 40-40 thousand each.

Along with this, if you tell them your dealing price first, then it is an agreement between you and how much money you take will be up to you, whether you are taking Rs 1 lakh or 2 lakh, it will depend on you, you will have to pay a separate amount in this. No commission of any kind will be received

In such a situation, you will have to talk to the client yourself, if it is done in a legal manner then it is clearly written in the agreement that the real estate owner who arranges the deal between the two will get 2% of the sale price.

At the time of deal, keep both the clients face to face and get them to sign the agreement and discuss about your commission with both of them in advance

Also read: How to start online business at home?

Qualification for real estate business: 

It is not necessary to be educated in any way for real estate business. It does not depend on whether you have any kind of educational knowledge or not.

In real estate business, you have to keep in mind whether you are able to do the paper work or not, you should know how to make agreements, and you should also know how to check the Jamabandi, map, Khasra, scale, and other land documents etc.

If you want to get the papers legally checked, then you can get complete information about the land by showing the map to Amin (Patwari).

In this way you will have to do real estate business and you will not face any kind of problem, you will just have to open your own office for real estate business.

How to start real estate business?

Real estate business is such a business, in which without complete knowledge, getting involved in this work is like not investing the money in the right place, hence one should start this business with the right knowledge and understanding.

In this business, profit is earned by buying land, construction and legal proceedings, keeping in mind all the facilities, building one's own team, satisfying people or customers and selling the property. Process to start real estate business-

1. Doing market research

To start any business, the first thing to be done is to research the market related to that business, which includes the kind of houses in the market, the facilities, the kind of place, where people get proper air and water, to provide all those facilities to the market. Understanding what attracts your customers to your property.

““Understanding and knowledge of the market is the foundation or basis of business”.

2. Sales and Marketing Plan

Under sales and marketing, how to sell any real estate or immovable property, i.e. in which ways one can work to sell that property.

Such as, what should one do to attract customers, add it on social media, give details of the location of the property and the special facilities provided in it, do things like price according to different customers and get the property as per their wish.

Special features about the property on social sites like Facebook, WhatsApp, Twitter, Instagram etc., which make it different from the rest. Such as swimming pool, different types of rooms including facilities like kitchen, bathroom, air and water etc. to provide better facilities to the customers.

3. Preparing management plan

Planning is very important for any business, which gives it recognition in the market, for which skill and proper planning by keeping people plays the most important role in making any work successful.

In which the main things are-

Planning is done in advance to provide the facilities of basic needs like swimming pool, lift, good electricity system, big rooms, bathroom, kitchen and other basic needs to our customers, so that all the necessary things can be provided.

Make plans to ensure proper transportation facilities.

Locality To get different prices and facilities as per the wishes of its different customers like middle class people, upper middle class people, upper class people.

A complete team is prepared to sell the entire property, so that every task can be handled completely, things like legal issues, property marketing, dealing etc. come.

Thus we can say that by looking at proper preparation it can be known whether you will be successful or not.

4. Preparing a financial plan

It is very important to have some important financial documents for proper investment of your money in real estate business-

Cash flow statement

Income statement

Balance sheets.

These three documents help you in placing your investment in the right place in this business. It helps in starting a better business by investing some part in management, some in marketing, some in payment and others.

5. Hiring a lawyer right from the start of the project

A lawyer is very important in this work for all legal documents and deals. Only the lawyer has the knowledge of buying and selling any property according to the legal rules, which works for you in this business .

6. Financial Budget:

It is very important to make a financial budget to make your business financially stable, it is a difficult task but the right kind of financing is very important for the future. If you want to start a business personally, then you can start the business by investing your own capital also.

But if you want to start your own company then you will need more capital. For this you can take a loan from any bank, but remember that a bad loan can make your business worse in future. Therefore, before taking a loan, know all its terms and conditions thoroughly.

7. Select your field in real estate:

When you are absolutely sure that you want to do real estate business , then you have to decide the next step to move forward in real estate. You need to decide whether you want to work for a residential brokerage, commercial brokerage, or both.

8. Portfolio – Create your contacts:

Contacts also play an important role in real estate business. Your value in this business is determined by your portfolio or the people you are associated with. Work with the best people in the industry and constantly keep in touch with good people.

A large percentage of the work in real estate business comes through your contacts. This is because it is a vast field and to compete with others, you need to work with others.

9. Observe:

To master the art of brokerage in real estate, you need to see a lot. Observe developers, observe other agents, observe homebuyers. See everything and only then you can have a chance to be on top. This business is dynamic, it can change anytime.

To maintain the momentum, and carry yourself with it, you have to embrace the changes and make your decisions accordingly. This is possible only if you are very aware of all the activities around you.

10. Detail – Decide your place of work:

Any type of business requires expansion at a certain stage. When you have dedicated enough time to real estate in one location, you can start looking for other good markets for your business. You can start a business there by researching about real estate in different cities or states.

Here your contacts with people will prove to be of vital use. Attending trainings and seminars at various locations will give you knowledge about the real estate community at different locations. Consult real estate experts who have knowledge about real estate in different states and finally, decide your workplace.

Once you've started expanding, you'll also need to decide where you want to operate. It is not possible to operate in different states at the same time so choose the largest market for you to handle all the work.

License and registration for real estate business

Before starting real estate business, you have to decide whether you want to start your business in this field as an individual or in the form of a company or partnership etc.

Apart from doing business individually, if you want to start business in a company or partnership, then you will have to register your business with the right authority.

It is very important for any business to have a license, which gives it permission to do business in the market legally. Real estate business is a type of business, for this you will have to do different types of registrations like

RERA Registration: There has been a big change in the world of real estate business with the implementation of the new Real Estate Act. Now before setting up a real estate business you will need to register under RERA for the respective state where you want to operate. This can be easily done by contacting a consultation firm.

Registration can either be a laborious task or can be done easily with the help of a good consultation firm. A good consultation firm is able to get your registration done in just a day or two. After registration, you will get RERA number which you will have to give in all future deals.

GST – If you want to do real estate business then your business will come under GST, in such a situation you will have to go to the Income Tax Department and get the paper work related to GST done with the help of CA and also file income tax returns.

To do business, you will have to take permission from the Municipal Council. Only when the Municipal Council gives you NOC, you can set up your office anywhere, otherwise not.

Taxes in real estate business

For business activities, different taxes apply. So first of all you have to be aware of them. If you have to work as a personal agent, then you have to file income tax, because for registration under RERA, it is required as a mandatory document.

If you have incorporated any company etc. in your business, you will now also have to apply for GST number, which is important due to the recent implementation of Goods and Services Tax. This is now a mandatory step as all financial activities should be as per the Central Government.

Educate Yourself – Attend Training/Seminars for Real Estate

If you want to be successful in any profession, you need to have correct knowledge of your work. There is not much awareness for real estate education in India, however there are some companies across India that conduct seminars and training for real estate aspirants all over Pakistan.

Attending such seminars and training will boost your confidence and help you learn a lot of new things. You look on the internet for such trainings and book your seats for them.

 you can, you can also work as an internship in a big real estate company for a few months, so that you can really understand the work and adopt them in your business.

Marketing of real estate business is important

To successfully develop business, you will need to advertise it. There are different ways to advertise in the real estate business and the best advice is to try them all. Advertise on social media, advertise in magazines.

Target your niche clients like commercial clients, house buyers etc. and find the ideal mediums to connect with them directly or indirectly. Nowadays many online portals like Magic Bricks, 99 Acres etc. list properties for free for the first time. 

If you can directly list your and your clients' properties on those portals. Later you can also add a new listing by paying the fees. Advertising results may not be immediate, especially in real estate business, but if you are patient you will gradually start seeing results. Advertising is important when expanding and if people like your work, you are sure to prosper

How much does real estate business cost?

To do any real estate business, it costs lakhs of rupees to buy land, do the work related to it, and its maintenance, construction etc.

Land-5-10 lakhs

Construction- The cost can range from Rs 20 lakh to Rs 50 lakh or even crores depending on the business .

Marketing-10000

Salary or payment- can be kept between Rs 10000 to Rs 20000.

The entire cost almost depends on the business. In some small businesses, the cost may even exceed Rs 50 lakh. In some big businesses this cost goes up to crores. For example, you buy a property for Rs 5 lakh, then do construction on it and sell it to the right customer only after 5 years, so that you can get the right profit.

What is the profit in real estate business?

As soon as the right customers are found, all the legal documents related to the business are prepared and profit is earned by selling the property to the customer. Profit in real estate business always depends on the size of the business . This profit can go from lakhs to crores. In this way, one can make a career in this field by doing this business in these main steps.

How to become a real estate agent ?

There are some important things to become a real estate agent, which are as follows-

• Understanding the market and keeping people's preferences in mind.
• Contacting people doing property business or real estate business.
• Fix some of your commission.
• After finding the customers, giving information about the complete facilities and special features of the property which is to be sold, to the buyer of the property.
• Bringing customers and showing things related to the property.
• Earn profit by getting your commission on the sale of property.

In this way, one can work as a real estate agent and one can also earn good profits.

Before starting real estate business, keep the following things in mind:

• Enter into this business only after making a complete plan for your business.
• Make as many and good contacts as possible.
• Be sure to register your business , this will increase the trust of your clients in you.
• Be a part of the camps and seminars organized by the government and other private companies from time to time, this will keep you aware of the new changes and keep yourself updated.
• Never give wrong information about any property to your clients, this can reduce your reputation and your business can also be affected.
• Determine your commission percentage in a correct and effective manner, so that you get profit and the client also remains happy.

This was some important information about starting real estate business, hope you liked this article. Stay connected with us for more such articles.

FAQ – How to do Real Estate Business in Hindi

Q1. How to Start Real Estate Business 2023?

Ans. If you are thinking of doing real estate business then you need to know everything about it, only then you can accept both failure and success, every business has risk, some are more and some are less. Before starting any business, one should know complete information about it.

Q2. Can you start real estate business anywhere?

Ans. You can start real estate business anywhere, as long as you have knowledge of the market and a place where there are resources and facilities.

Q3. What are the benefits of real estate business ?

Ans. Benefits of real estate business-

1. It is helpful in getting people the right property as per their requirement. 2. With the right information , it is
a very profitable business .
3. To help the customers in providing a good guidance to the people from outside in big cities.
4. To do construction keeping in view the current technology and development, so as to provide all the facilities to the people at one place.

Q4. In what minimum time can buying and selling any land yield profit?

Ans. Any land should be purchased and sold only after a minimum of 5 years.

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