Real estate business In Nigeria - 9 Ultimate Breakdown

Should I say a real estate business is lucrative, costly, time-investing and Return on Investment is huge?

For whatever reason, a real estate business is a gem for conversion.

There's a lot to say about real estate business because now you have decided to carry up a new cross.

After years to years real estate agent experience it's time you have realized to change the shoe step.

And face a new challenge.

Let's take an epic fact from the magazineng, which completely say;

The story of real estate development particularly housing provision in Nigeria has been uninspiring.

From independence, there was a wide bridge spread and the ever-growing gap between house demand and available supply has been in a case of direct intervention.

For this reason, should we say there's a lot of demand but a few notch supplies?

In other words, what if I say there's a lot of supply but a few demand?

Which way can we ever settle in and remain on the right hook?

To me, they're interchangeable but more of supply than demand.

Let's do some maths.

Here's what to talk about. Tenants are growing, being a landlord is another step into life.

The interesting thing is that as a landlord there's a cut, you don't have to undergo the stress.

Real estate agents really are the ones to do the work for you but in recent times there's a lot of problems to tackle.

For whatever reason, we can't tell whether the supply chain has increased plus the demand.

Or vice versa.

Everything has extremely gone weird has competitions grow.

Even as a real estate agent is hard converting prospects into a qualified tenant.

Not even to talk about converting people to buy a full house.

The ball really is in your court, with years of experience that might not do much when starting out a real estate business.

Image credit: designhill


Real estate business is another lifter an entire process that should be calculated.

Sure, everyone what to become a landlord someday that's a by-idea a living soul wish for.

If so, is there how you're ready to convert them into sales-ready?

The tricky thing about Nigerians that you ain't guess right yet is that they're unpredictable.

Fine. Take a look at this:

As a real estate agent, you throw multiple touchpoints for them to build an association around with.

Yet, these people aren't satisfied they see that as you're not trustworthy you're only after the damn money.

Read here: Fashion Design Business - Why Your Lucrative Idea Matter In Nigeria

Plus, when you decided to stay cool these same people mark you as unserious as you never need the money.

There's a two-way agreement, that's:

• First, you work too fast.
• Secondly, you work too slow.

So how did they ever want you to work?

That's a big question.

But try to ever stay neutral.

Unfortunately, a real estate agent in Nigeria doesn't think much about prospect behavior.

Nearly roughly 80% of real estate agents in Nigeria work too fast.

The desperation goes before their shadow.

And that's so wrong.

As for the real estate business, it requires your patience and human connection.

If truly you want to get something out of what you do.

Let me also take a pause here.

But, let me drive you into this.

What's Real Estate?

A real estate is defined as a peer-to-peer network that's an acquisition process of buy-sell, give-take modern for return on investment.

For that reason, I've got you 9 actionable steps that can skyrocket your real estate business into a conversion machine in Nigeria.

So, let's dive in.

How to start a real estate business or company in Nigeria that makes money:

1. Is your real estate business teaching something out?
2. Your brand story must stay real
3. Do more of social listening
4. Know your ideal customer
5. Leverage the power of social media
6. Attract word of mouth marketing
7. Invest in blogging
8. Run ads
9. Create a unique portfolio of your business

1. Is your real estate business teaching something out?

For one, whether you should ask yourself and that's.

What's your real estate business teaching out?

Have you ever reason that for once and does it fit into your marketing KPIs?

What if I ever ask you why you ever want me to buy from you, not from others.

What do you have to tell me?

I think that's where the problem begins not getting almost the precision right.

Think of this for once.

Whenever you're growing to become big you need more help than what you can offer.

Because that is a new challenge for you in life and you have to level up with it.

Just take a little breath never aim to go too fast like others but aim to go well.

If you're going to succeed in the real estate industry.

Take your time to inspire yourself and create a workflow of why you're about doing this.

In that instance, you've already brought out a value for your prospects.

That tells them why they should make a sense of purchase from you.

But, in a case, you're creating a workflow about what you do to prospects, prospects don't likely convert for that anymore.

Give them a reason to believe in your real estate business and that pretty much comes from the WHY golden circle.

2. Your brand story must stay real

Whether or not your real estate is on the offline or online merchant.

There's still a brand story to tell.

In this case, for every multiple touchpoints in your prospect's journey create a unique story that'll level up their feelings.

A good story brings human feelings and connections.

And for whatever reason, you can make the story comes real it should stay connected to their emotions.

Because there's so much power in storytelling.

Especially when it has something that's teaching out.

Storytelling can be in any form.

More importantly, it must be what your real estate business is good at.

Give them 10× reason to believe and how so far you have impact lives.

And change people's stories.

That's the real gem I'm talking about.

3. Do more of social listening

To be as successful as a real estate business it's best you do more of social listening.

However, the word called social media is free.

It's here to stay and it meant to be used.

Read here: Digital Marketing Agency | How To Start And Drives Sales In Nigeria 

Now, why social listening?

Social listening is so good to discover new benchmarks and opportunities.

It helps you to discover new trends, the audience's intent, and new KPIs.

Which is good as retargeting.

As per the real estate business, there is a way people behave and follow new trends.

It means you have to go beyond sitting in the office.

And discover what your prospect needs are.

That way, it's easy to churn out a content strategy that will make them convert even more.

Another interesting thing about social listening is that it gives marketing insight into new trends and what might interest your prospects.

4. Know your ideal customer

When it comes to starting out a real estate business in Nigeria what works best is to know who your ideal customers are.

Are you going for baby boomers or Generational X?

You'll likely have to pick who's a good fit for your real estate business.

For example, let's say your real estate business target audiences are from Abuja.

That means your business should be looking forward to residents in Abuja.

Of course, they're your target audience.

This way, you don't need to shift the coat staying more greedy targeting audience from Lagos.

Unless you have an outlet located in Lagos as well.

If not, they won't convert much to your offers.

Let's say you have inventories like buildings or property to sell in Abuja.

And then you're using more of your inbound effort targeting an audience that's off the track.

How on earth will they convert in the location they never have interest in?

Think of it for once.

So for you to build a successful real estate business.

First, know your ideal customers and keep it consistent.

Remember, you ain't an estate agent anymore that you can target pretty much every demographic.

That really doesn't do well when you're about starting out a real estate business in Nigeria.

This time, you have to stick to your horns and understand who your ideal customers are.

5. Leverage the power of social media

To generate more leads intent using social media strategy can create that powerful ground for optimal performance.

There's power in social media when used well.

It can earn you some leads and mentions.

But one thing you have to craft out content almost regularly, create a post time, content schedule, and leverage infographics for the power of reach.

With social media, you can build your community and grow your fan page.

This is when you direct them for special offers, new incentives, and update of any new announcement.

Signing up is completely free you can do that today.

But don't forget to implement hashtags to boost your social media post organic reach.

6. Attract word of mouth marketing

If your real estate business can really delight prospects to gain word of mouth is more likely.

Because that really doesn't come from you either from your staff than only your customers.

For your real estate business to gain earned media, they must have provided a unique customer experience, good customer service, meet your customer needs, and offer quick responses.

That can also be your unique selling point.

In most cases, it's advisable to offer some incentives for your first-time customers to draw in their interest.

It can be a 3% discount for the first 20 buyers.

Just use a call-to-action to drive them for actions.

So how can you create a real estate business plan in Nigeria?

A real estate business plan in Nigeria should repeatable and scalable in order to attract qualified leads that can turn into sales-ready customers.

By the way, here's the real estate business plan in Nigeria pdf

1. Set a marketing KPIs
2. Discover new benchmarks
3. Leverage customer relationship management
4. Understand your prospects and their interests
5. Create a point of view
6. Create a content strategy
7. Use service level agreement to reach the company goals
8. Always track your data analysis
9. Use marketing software to organize your contacts
10. Use a survey to discover promoters and detractors
11. Attract word of mouth marketing

7. Invest in blogging

Using blogging as a marketing strategy can double your lead's intent.

And skyrocket your sales.

With blogging, the ROI is huge and can make your real estate business catch out more money.

According to research, a business that does blog generate 10x inbound leads that a business that doesn't.

So if you want your prospects to find you online invest now on blogging and use it as your bottom line marketing funnel.

Because the ROI is huge and it brings credibility to the business.

By now you know-how Nigerians behave they tell you Google search it.

Do you know what that means?

It means if your real estate business isn't online they won't convert because they can't see you as a credible source.

Which means you're losing out on a lot of opportunities.

For that reason, you need to create a home online where prospects can easily see what you do and why you're doing it.

8. Run ads

If you can't run television ads but there's a social media ad you can leverage to boost your reach and conversion.

So after you have drafted your business plan it's time to invest in your real estate business goal.

So, what's your objective?

Is it for your real estate business to build awareness?

Or to drive traffic?

Either way that turns into make sure it fits properly to your business KPIs.

And make sure you track every conversion and analytic data.

With Hubspot CRM you can leverage it to organize your contacts and gain more marketing insights into what's working or what's not.

9. Create a unique portfolio of your business

This time, you're thinking of standing out not blending in.

However, it's best you stay real and create a portfolio that speaks more of your success stories rather than your unique selling point.

So the best way to create a portfolio that will make your real estate business stand out is to hack on the following:

1. Let your real estate business logo speaks automatically what you do.

In a nutshell, every industry has its color and the contrast of the color depicts something to your prospects.

For the fashion industry, black is their color precision, for example, Nike.

But, in the case of the real estate industry researchers have shown why blue is the leader of the real estate industry.

Image credit: freepik


In other words, the other color elements are:

• Red - indicates strength, passion, determination.
• Black - indicates luxury, bold, strong.
• Green - indicates growth and stability.
• Orange.

So it's your choice to play favourites.

2. State clearly your mission

Read here: How To Start A Business That Drives Online Sales In Nigeria 

And that goes to why you're doing what you're doing

3. Embed your success story

4. Show review of your happy customers

5. Create a FAQ section to discover new benchmarks

6. Have a point of view

7. Prove your value and credibility

That way, you can see them convert for your offers.

So to register your real estate business or company in Nigeria use the Corporate Affairs Commission of Nigeria(CAC).

Better still, you can register manually with Limited Liability Company(LLC).

Doing so shows the value and credibility of your real estate business to prospects.

Conclusion

Of course, on Nairalnd, people ask whether a real estate business is lucrative.

Yes, a real estate business in Nigeria is so much lucrative only if you understand your prospects.

And to become successful it takes consistency.

In other words, to sell a real estate in Nigeria you just have to show prospects why they need you and your portfolio will show all that.

For how to make money as a real estate agent in Nigeria:

1. Show your prospects the value your business brings
2. Use discount or incentives to draw their attention in
3. Turn your prospects into a word of mouth marketing
4. Show credibility
5. Network with credible investors or be a credible investor
6. Hack on new benchmarks to discover marketing insights
7. Go out of the office and do social listening
8. Know your ideal customer
9. Don't show desperation to sell but be calm in any situation
10. Run ads to acquire more prospects who can turn into a qualified customers
11. Always adapt to new trends and new buildings mode
12. Tell your prospects about what's new
13. Show authority

So, over to you, how do you want to start a real estate business in Nigeria/Nairaland that turns into a conversion machine?

I'm Destined Boy, a certified digital and inbound marketer.

You can follow me up on Twitter.


Follow @Blogdestined