Real estate sector is one of the most profitable in Nigeria. I mean it when I say so cos I know so too. A lot of people who make money in real estate business in Nigeria have moved from six figures earning to seven figures.
In this post, I will show how you can make money in real estate business in Nigeria with zero capital. This is one of the business you start with zero capital and start making money in less than few months.
In real estate business, there is no limit to how much money you can earn in a month. Your first take home could be N450,000 or even N1,300,000. Don’t you believe it? I know you won’t at this moment but this is no exaggeration.
As you read further, you will see what real estate business entails. On hearing the word real estate, you may think one must have properties – plots of land or houses to make money. No, you may not have any of those but you can still make money in real estate business even as a tenant.
Sounds funny, not so? But that’s the truth. Anyone can join this business whether you are a full-time worker, a student or stay at home person. You can also work from the comfort of your home, that is online if you can’t be available physically.
I will explain in full details how all of these can be possible. I just need to prepare your mind as to the preliminary questions you may have in your mind because it is hard to believe someone can make money in real estate business with zero capital.
Each time I mention real estate to some people, they ask what is it? There are different definitions to real estate but I will define in this simple term so it will be easier for anyone to understand.
Real estate is any real or physical property which could be land or house either for a residential or commercial purpose. Now you have a clue of what real estate is all about. Unto the next – How to make money in real estate. This post focus is on those who are not property owners.
Real Estate Is Universal
If you are a foreign reader who read visit freemoneydomain.com and reading this post, real estate is universal. So you can also tap from this post even though I talking about the real estate business in Nigeria.
Real Estate business exists in all countries. People sell, buy, and rent properties. You may be a tenant or a landlord but no matter what, you can make money in real estate.
Before You Make Money In Real Estate
If you are interested in making money in real estate in Nigeria, you must be committed. Why you I say so? This is because there are lots of challenges that may weigh you down and can make you quit before you make your first cash.
I am talking from experience and those who have been there before me also felt the same the way. They wanted to quit because it was taking time for them to make money in real estate business.
How To Make Money In Real Estate
It is believed that you must have a real property to make money in real estate. If that is what you also believe, then you are far from the reality.
People do make money from real estate business in Nigeria without having a land or house of their own. How is this possible? Just read further.
You can make money in real estate In Nigeria if you become:
- property listing website owner
Most times the term consultant, agent, and realtor are interchangeably used in real estate business because they have one common goal – to sell real properties. But they are not the same.
You may not need to know the differences until you are grounded in the real estate business. So in this post, I will use a consultant as a general term.
I prefer using a consultant because when some people hear you are an agent, they will run away. This is so because many nonprofessionals portray themselves as agent and they render quack and greedy services.
Back to how one can make money in real estate business in Nigeria. There are many real estate companies in Nigeria that have land and houses either for sale or rent. These companies seek the services of independent marketers.
An independent marketer is one who is not employed by the company. He is not a salary. He works at his own time and can be affiliated with many other companies at the same time.
In real estate, an independent marketer automatically becomes a consultant because he will be doing consulting for the real estate company he is registered with.
I know you are waiting for the main part – how to make the money in real estate. The truth is I always want people to have proper knowledge of anything before they venture into it. So if you are still with me, I am telling you to still read on.
How Money Is Made In Real Estate Business
Real estate money is earned in these 3 steps which I will explain further;
- Register as a consultant with genuine reputable real companies in Nigeria
- Advertise/Market their properties
- Make sales and get paid
The first step stated was to register as a consultant with any real estate company in Nigeria. Registration can be free. This is why I said you can start real estate business in Nigeria with zero capital.
The company you register with gives you their properties currently on sale and let you know about the percentage commission attached to each property.
You are to market these properties, either a land or a house. When you do and you are able to get someone pay for the property you advertised, the company will pay you for the sale.
You may think it is difficult to make a sale because people don’t buy properties daily. And if they do, to find them will be so hard except you know people who are rich. Well, let me not say anything yet.
How To Get Buyers
I am not just only here to tell you that to make money in real estate business, you must make sales. I am also showing you how you can succeed.
Many of these real estate companies do organized training for their registered consultants. If you eventually become a real estate consultant for any company, attending training may not be possible sometimes.
Why do I say so? Your location, your work, and other important activities may clash with the training time. So what then will you do if you fall under these circumstances?
That is why I am going to give you clues on how to succeed and make money in real estate business in Nigeria.
You can get buyers when you do what I call voracious marketing. You need to be aggressive in your methods of marketing. I am not implying aggression on people but on your sales strategies.
Do I talk too much? I think so. Okay, let me go straight to tell you how to get buyers.
1. Advertise on Social Media
Almost everyone today is on one social networking site. Is it Facebook, Instagram, Twitter or Linkedin? Just name it! In any of these social media platforms, you can get people who are interested in buying land or a house.
You need to run Facebook ad, this also includes Instagram ad. Facebook owns Instagram so it very much easier to advertise using your Facebook page to reach both users on Messenger, Instant article, Instagram and other placements supported by Facebook.
A lot of marketers in real estate business uses Facebook ad which is targeted to reach people who are more likely to patronize them.
Facebook is not the only social media platform you can advertise, there is Twitter and Linkedin. But the truth is, Facebook ad is much cheaper than the rest.
Linkedin ad offers you the opportunity to reach professionals from different works of life. There you may probably reach MDs, CEOs, and other business professionals who are interested in investing their money in assets.
Do want to advertise on Linkedin?, You can read the post – How To Advertise On Linkedin.
Even if you don’t want to spend on social media adverts due to financial constraint, you can still find prospects.
Your friends on Facebook can become your clients. Post about what you do. Let them know you are into real estate. You can tell them you will pay them a certain amount of money or a gift if they refer people to you.
That’s not all, you can post on relevant Facebook groups where you think people will see your advert and contact you. There are many buy and sell groups on Facebook. You can get clients from there.
2. Distribute Flyers
This is a conventional method that many have used in the past and present to reach people. Someone that is used to preaching and distributing tracks won’t see this as a challenge. Some feel inadequate approaching people and giving them pamphlets.
Sharing flyers is one of the best marketing strategies in the real estate business. There are places I call the hit zone. These places are where you more likely to get prospects. To name a few are: airport, hotels, offices and business clubs.
I am not saying those are the only places you can share flyers and get clients that will eventually make a purchase. The point is just to share flyers in strategic locations in your city.
3. Forums and Online Marketplaces
So many people visit forums on a daily basis to get information. Some of these forums have different sections. You can check for property section and post your real estate adverts. Nairaland is an example where you can promote your real estate business.
Online marketplaces allow you to post your products and services. You can check the real estate section and advertise your property. Many of them have free and premium services.
If you are ready to spend, you can take advantage of the premium service which gives a more upper hand to be featured on the main page or on top of the real estate category. Olx.com.ng and jiji.ng are the most popular marketplace in Nigeria that you can use to promote your real estate business.
4. Talk to People
This one is very easy. You have friends, workmate, schoolmate, and neighbours – just talk to them. They say talk is cheap. You don’t pay for it.
Other Marketing Ways To Get buyers:
Tv and radio advert (if you super rich), etc.
There are some frequently asked questions I want to treat. A lot of newbies and those interested in the real estate business ask these questions.
How Will The Real Estate Company Know I Referred The Buyer?
There is usually a subscription form you can download from the company’s website or at the office to give to your buyer (client). Your client is expected to fill your name, email and phone number on the referrer section of that form. You should guide him so he does the right thing.
Does My Location Matters?
Many of the big real estate companies are based in Lagos and a higher proportion of their properties are also in Lagos. Some still have properties (land) in other states.
If you live in any of the states where their properties exist, you can start marketing from there. But if you are not residing in any of the states where their office or properties neither exist, it doesn’t hinder you from being in the real estate business.
Anyone can join and make money in real estate business irrespective of location. There are people who don’t live in Lagos but have sold plots of land to people living in Lagos. There are still those who live abroad and have sold land to people living in Nigeria. The most important thing is to find people that are genuinely interested in real estate investment.
What Is The Commission Like?
The company sets the percentage commission for each of their properties. Percentage commission is usually between 15%-20%. Imagine you get someone to buy a plot of land worth about eight million naira (N8,000,000), the commission can reduce your blood pressure if you have been in financial crisis for a while. lol.
Are you thinking of joining real estate business? If yes, you can contact me on my real estate Facebook page for further enquiry.
Real estate business is one of the most lucrative in Nigeria that you can start with zero capital. Although there are ups and downs in this business.
Some greedy clients and agents can make you become discouraged. There is no point for me to hide it. It is what I have passed through and still experience it. But it doesn’t mean giving up. Every business has unscrupulous characters.
I will like to say this too that you must get to know about land titles and documents to be able to interact confidently with real estate investors.
How To Make Money In Real Estate With A Website
If you are in the real business or you have a fair knowledge about it, having a real estate website or blog can generate you income. You can earn money online with your real estate website or blog.
A lot of property owners patronize these websites that focus on property sales or rent. There are many of them in Nigeria. Examples are tolet.com.ng, and nigeriapropertycentre[dot]com.
Whether you are a blogger that writes on real estate matters, or you have a website for property listing, opportunities abound to earn money from your online platform. So won’t you rather give it a trial?
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