Starting a real estate business may not be an easy task. There might be a few questions running in your mind whether this business will make profits or not? The answer to this question is yes, it gives you ‘profits.’ You require proper business planning and investments – in the form of savings or any other form.
While starting any business you require proper
• market research,
• idea validation, and
• most importantly finances.
This blog helps you with some ideas when you want to start a business related to real estate.
1)Real Estate Blog:
With a nominal investment, you can start this business within the comfort of your home. You need to create a blog and write about your business and share your tips to attract new customers or clients. The first task that you can accomplish is helping yourself (time) and clients through your website or blog for property hunting.
These opportunities include promoting events, site listing, and reviews of properties on a social media platform like Facebook, Twitter, and others. The scope of a real estate business is growing fast with technology. Online sites can help you to make calculated decisions for real estate business planning.
2)Real Estate Photographer:
If you are a good photographer, then this business idea works best for you. This is like a market campaign of your business where you click photos of houses for clients and post them on social media or online. It’s a challenging business idea and with some creative shooting, you can get paid well.
Adding a video might help you to stay ahead in the competition and also to attract more clients. By creating some guidelines for your photography like light, angles of your property in your photograph. You can create some uniqueness and wow clients.
The scope of real estate photography is vast because people are often moving cities in search of jobs or relocating to move closer to family or various other reasons. They do not want to search manually by visiting the properties frequently.
3)Vacation Property Rental Agent:
Now a day’s renting a property for tourists is a new business idea. If you are interested in renting your additional properties for other people, then you can start this business from your home.
The important responsibilities that you have to keep in mind are maintenance, cleaning and payments. Until you can create a good network of connections, you may have to work personally for all properties and related tasks.
Once you have a proper connection of employees required for tasks like cleaning, maintenance, and others. You can book appointments and work your business from home. The opportunities for vacation property agents are mostly in social media platforms and as network connections like builders and dealers.
You are involved to run the business smoothly and your work is mostly online. The scope of a vacation property agent is growing as everyone is depending on technology for viewing and renting properties.
4)Construction Cleaning Company:
It is an excellent business idea. Most construction companies are hiring cleaning companies to clean their site after construction work is completed. The significant investment to start this business is workforce and equipment.
The scope for construction cleaning is vast because of the massive urbanization of the metro cities. Construction in major cities is never-ending and as they construct more and more.
Cleaning companies can influence the profit margin for both the cleaning company and the construction company. The better your cleaning is, the more the client pays.
5)Real Estate Mobile App Development Company:
If you know programming and application software then this business idea works best for you. The rapid growth in technology in this day and age allows you to develop a small application that can directly connect the buyer and the seller. Initially, you can work with mobile app development companies to develop an application for your business.
The scope of this app development is enormous because there are a large number of properties that are remaining vacant because of lack of proper advertising. You can achieve 2 objectives using this app – start your own business of app development and boost your sales, income by advertising in your app the real estate that needs to be sold.
Sponsored advertisements using your app can help increase your business. App also helps collect client information and this can be useful in the future.
This business idea is one of the most challenging ideas to implement as it requires 24*7 management. If you are good at managing things then this business idea works best. You can start this business from home but having a proper office for storage is suggestible.
As you take care of full properties you come across some additional expenses like plumbing service, electrical work, painting, etc. If you are not available sometimes then you should have an emergency team who can work on behalf of you.
Maintaining a good relationship with tenants, landlords, and construction agents/crew are some of the critical roles of a property manager.
There is enormous scope for this position because the number of properties is vast in cities and the number of agents is very few. It is an added advantage if you can use technology (like apps, websites etc) to manage these properties.
This business is evergreen because people will always want their property to look good and attractive. If you are good at painting and designing then this business idea is something that you can start. Initially, you can collaborate with interior decoration companies for work.
To stay unique from your competition, you can also provide services like special finishes, faux painting and wallpaper services. Other good options for a painting business is franchising with your painting opportunities with target homeowners, builders, and landlords.
There are always going to be some additional costs for painting tools, ladders, rollers, and others but these costs can be recovered quickly. This business’s scope is booming nowadays because people want stylish homes and have many ideas for decorating their homes.
The start-up business ideas mentioned above might help you to start your own real estate business. Traditionally, this business is seasonal, and to counter competition in this business, you may have to work exceptionally hard without depending on the market fluctuations.
To help you further with your process Viewham.com will provide details and information related to your business ideas.