Real estate has long been regarded as a sound business. Whole selling, Estate Agency and Property development and Management of commercial and residential property are just a few of the ways practitioners can profit from real estate, but it takes a little savvy to become successful in this competitive arena.
There are certain characteristics that top real estate practitioners commonly possess.
As with any business, it is imperative to stay up to date with the laws, regulations, terminology and trends that form the basis of the real estate practitioner’s business. Keeping current does require additional work, but it can be viewed as an investment in the future of the business.
Investors who fall behind risk not only losing momentum in their businesses, but also legal ramifications if laws are ignored or broken. When it pertains to the law, ignorance is no excuse. Successful real estate practitioners take the time and make the effort to stay educated, adapting to any regulatory changes or economic trends.
To stay educated with the laws, regulations, terminology and trends that form the basis of the real estate business the present crop of Real Estate practitioners attend “The Real Estate Business Course” organised by Skola O Etat Ltd (The Real Estate Business School)
Treat Activities as Businesses
It is important for real estate practitioners to approach their real estate activities as a business in order to establish and achieve short- and long-term goals. A business plan allows real estate practitioners to not only identify objectives, but also determine a viable course of action toward their attainment.
A business plan also allows practitioners to visualize the big picture, which helps maintain focus on the goals rather than on any minor setback. Real estate business and activities can be complicated and demanding, and a solid plan can keep practitioners organized and on task. Attend “The Real Estate Business Course” and be mentored and coached by professional real estate experts with over 10 years practice experience for 6 weekends only and you will be glad you did.
Know Their Markets
Effective real estate practitioners acquire an in-depth knowledge of their selected market(s). The more an investor understands a particular market, the more qualified he or she will be able to make sound business decisions. Keeping abreast of current trends, including any changes in consumer spending habits, mortgage rates and the unemployment rate, to name a few, enables savvy real estate practitioners to acknowledge current conditions, and plan for the future.
Being familiar with specific markets allows practitioner to predict when trends are going to change, creating potentially beneficial opportunities for the prepared practitioner. One of the modules that participants are exposed to during the “The Estate Business Course” is Real Estate Marketing and Code of Code of Conduct in Nigeria.
Participants are exposed to:
_The Concept of Property, Ownership and general characteristics of _Property
_General Characteristics of Real Estate as a Marketable Product
_General Marketing Concepts
_Real Estate Market
_Real Estate Consumer and their Influences
_The Buying Decision and Stages
_Market Segmentation of Real Estate
_Company Marketing versus Product Marketing
_Stages and Steps in Sales/Letting
_Real Estate Marketing Strategies
_Unethical Issues in Real Estate Marketing
_Consumer Behaviour etc
Develop a Focus or Niche
Because there are many areas of specialty in real estate, it is therefore important for practitioners to develop a focus in order to gain the depth of knowledge essential to becoming successful. This involves learning everything about a certain area of interest, which can be Estate Management/Agency, Project Management/Development Consultants, Facility Management, Mass Housing, Real Estate Brokerage etc and becoming confident in that arena.
Taking the time to develop this level of understanding is integral to the long-term success of the practitioner. Once a particular market is mastered, the practitioner can move on to additional areas using the same in-depth approach. Savvy practitioners know that it is better to do one thing well than five things poorly.
The Real Estate Business Course will not only expose you to the core areas of practice in the Real Estate Business but will also help you and your team make up your mind to focus and develop a niche for yourself or organization.