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The real estate sector in India is expected to become a 1 trillion dollar industry till 2030 and contribute 13% of the country’s GDP by 2025.
Real estate is an imperishable asset, ever increasing in value. It is the most solid security that human ingenuity has devised. It is the basis of all the security and the only indestructible security.
Here are the immediate steps you can implement to start a real estate business in India:
Firstly, one should decide if he wants to operate on his own or wants to be associated with a company. Making a business plan will help you achieve your monthly goals and also keep a track record of your business.
A business plan is your opportunity to convince an audience about the efficacy of your product or service and the market opportunity. Essentially, your business plan should answer whether your idea will be profitable.
It would not be profitable if one owns all the properties of the budget that tenants are not looking for. Choosing a niche and knowing what its property requirements are is the next step one should be aware of before starting the real estate business.
If done well, this research will leave your marketing and product marketing teams with a wealth of information to support overall business sales, and work toward winning a more significant market share for your business.
One must pass the real estate licensing exam and must have a thorough knowledge of:
Every business needs a reason for their customers to buy from them and not their competitors.
What is specifically great about your brand that clients would be interested in? You must start creating a clear message of what value it is bringing to the customers.
Your USP can change as your business or your market changes, and you can have different USPs for different types of customer or product.
You can start the business on online and offline platforms. Make a website and work on your reach with content strategy and advertisements. Social media platforms like Facebook, Instagram and twitter are a great source to reach out to a large client base.
There are several real estate online property market places where you can get a client base and can advertise yourself as well.
The real estate business takes around 2-3 years to reach its peak stage as it is a very structured process. To give real service, you should give something which cannot be bought or measured by money and that is sincerity and integrity.
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