Many new career opportunities and business models have arisen in the previous few years. Job opportunities are dwindling around the world, and notably in our own country, Pakistan, as the population is growing rapidly. So, everyone wants to be a part of any successful industry that can benefit them well without requiring them to risk their wealth. Real estate is currently in a position where the return is larger due to quick cash flow and minimal chance of losing money.
Before diving into the topic deeply, we would like to clarify that real estate is not a piece of cake due to different challenges. A common perception which is proven that most real estate startups fail during their first year. Somehow many can manage their business due to adopting proper working strategies and business plans. Real estate is a long term business and shortcuts didn’t work in this million dollars industry.
Patience and adhering to your plan, on the other hand, yields a surprising reward that can help you to overcome all challenges. Many people and investors wonder how they can start this business and make a profit without risking their hard-earned money. We have shared few basic and necessary things that will surely help you in this business.
There are two ways to start a real estate business in Pakistan and both are discussed below:
If you have a good amount of money, you can quickly start your business by investing in different projects such as housing schemes, commercial buildings, buy a plot, and purchase a property for rent. You may read our article about how to invest in real estate. In this way you can generate a passive income other than your capital. This method is time consuming and not all starters have much money to invest in these projects. So, the second method is quite effective and most entrepreneurs have started this in the beginning of their career.
This is the best method that can give you tons of money, if you do hard work and work with proper strategy and plan. Many guys discuss with us that they are a real estate agent for so long but didn’t get success? The simple answer is that the agent must be aware of latest market trends and have strong communication skills because communication is the key in every business.
A successful agent only uses the best plan, interacts with other agents, keeps him up to date on the latest real estate rules and regulations, and is informed about any tax or legal changes in the industry. For beginners and strugglers, we have explained a few tips for agents that will help them to become successful
If possible, learn the basics of property dealing from any successful agent in your area. As an agent, your job is to bring the buying and selling parties on one page and make the deal final. Behind this scenario, you need to convince the buying party with proper knowledge and most beginners get confuse at this moment. So, an experienced agent or entrepreneur can guide you better that how to handle this situation. As these are busy individuals and it’s tough for them to train you properly, so the better solution is to attend meetings with them. In these gatherings, you can quickly and efficiently learn the basics of how to deal with clients and convince them to buy a property.
Teamwork helps you to learn the basic points quickly. Make sure that the team you’re going to work with is highly professional and has a good record in the real estate sector. Continuously interacting with the team will earn you incredible knowledge, which is impossible, if you work individually.
As an agent, set your goals and work hard to achieve them. It doesn’t matter whether you’re an agent or a firm owner, your targets should be clear. Remember, the real estate market is vast and you can’t conquer it within a few months. The best advice is to set short term goals and expand the targets after achieving them. Your goal should be that you will finalize the five to ten deals in the first year. These goals will surely help to achieve the big targets in the future.
Keep in mind that this is not the 90s or 80s era and traditional ways of work will not benefit. You have to adopt some advanced techniques to stay in the industry. Use the social media platforms to quickly reach your target audience and deliver your message. Use websites, softwares, and other technology tools to remain alive in the competition and always take one step forward from other brokers or agents.
Come up with new and creative ideas to grab more and more potential buyers. Always think out of the box and don’t rely on those ways that are vanished today. Use these creative ideas to market yourself and your business. Note that unique ideas will help you to get quick fame and reputation in the industry.
Establish a good relationship with clients by communicating effectively and respectfully. Take care of each deal and assure them that you are working hard to close a contract at a reasonable price. Interact with them after the work is completed, so that they may employ your services again in the future.
If you want to start a real estate business in Pakistan, you must have knowledge of land, mouzas, and everything which is related to this industry. Everything is available on Google, research it and gather all the information before diving into this field.
No one can deny that obstacles are linked with every business. What matters is how you deal and turn them to your favor. Before starting any project, make sure you have a good strategy and plan of action, as well as enough knowledge regarding the project. Don’t be scared by these difficulties; they will teach you valuable lessons.
If you don’t have any office, there is nothing to worry about. Make online presence on different social media platforms. Most people in Pakistan use Facebook, so create any page and reach to every citizen and offer the services. This method is even more effective than having the office in any building.
These are the few working methods that are necessary in this industry as an agent. We hope the question, how to start real estate business in Pakistan, is clear. Remember, real estate is the most profitable industry, but it demands hard work, dedication and passion.
Rohtas Marketing, a leading Real Estate Company in Pakistan that was formed keeping in mind to cater the growing needs of the real estate market and is positioned to make property transactions easy and transparent.
Office #5 Ascon Heights II plaza, Mezzanine Floor Main Double Road Soan Gardens, Islamabad