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Thursday, 12 March 2015

ARE YOU INTERESTED IN REAL ESTATE ? AFTER SEVEN YEARS OF EXPERIENCE HERE IS WHAT I THINK IS KEY TO SUCCESS!



Cain Ndhlovu - Property Consultant

As many educated people become unemployed due to such challenges like company closures a number of keen individuals have asked me about how real estate works. Many people are very much interested in trying real estate as a business. One of the factors that drive them is the belief that  real estate or immovable property is one of the best investments in comparison to things like shares especially in the Zimbabwean economic environment. Because of this I have oftenly heard such statements like “ You never go wrong with property”. Those of us who are on the ground in the business are witnessing  cash buyers who can have about $90 000.00 ( despite the liquidity crunch) an individual and this therefore, authoritatively confirm that the people’s belief is true. So what people would like to know from a person like me  is that what business model they can set up in order to tape into this massive opportunity in a profitable, and sustainable manner. He who discover this model would have acquired a license to print money for some time!



PROPERTIES FOR SALE

GOOD HOPE, WESTGATE, A NEW AND MASSIVE 4 BEDS, with mes, roof under tiles, lovely exterior finish, septic tank on 2160sqm, title deeds, for $113 000.00 only. Also has kitchen, scullery, pantry, dining, lounge x2, reception hall, double lock up garage and plenty of tape water. What remains to be done is negligible. Call Cain 0772 997 229 







What people should first know is that real estate is broad so what I will talk about is the part of it called “agency” because it is my specialty and it is the only one you can do without prohibitive  capital investments in the form of money and specialized education. Other aspects of real estate but that demand initial capital  investments are development, valuation and letting. This does not mean agency is easy but the point that must be understood is that in terms of regulator requirements its possible to operator without having to have somethings yourself. For example you can operate as a registered practitioner without a license yourself but working under a licensed person. Nevertheless, there are two things that are indispensable namely a knowledge of marketing and innovation!

Agency is the selling of property on behalf of other people this means you become an intermediary between a buyer and seller hence the designation – estate agent. In Zimbabwe estate agents earn a commission of 5%. If you work harder you earn commensurate with your input so that the depression associated  with  working harder but without corresponding salary increases would come to an end. Despite the issue of innovation a number of things you may want to know about running an agency are basic business management. So this gives us the opportunity to answer the critical question , “ What is the key to success for an estate agency?”

At this point the answer maybe obvious. The key to success for an agency is INNOVATION! Marketing is important because the rate at which one sells depends on the properties that one is mandated to sell. So in their marketing efforts agents should focus much on finding property sellers who are willing to have estate agents sell on their behalf. This is a very difficult task because one can not be approaching strangers in the streets and asking them if they are selling their house. Remember one of the most important things in real estate is trust so if you look for business like a tout you would have shot yourself in the foot. Over time however, I have devised a smart way that instead of trying to find sellers I can make them find me. Instead of approaching people asking for business they approach me themselves and give me business. I call it the charm offensive and this is where innovation comes to play!



In order for sellers to find me I  regularly create well researched content which I distribute on social media and other  internet applications. This content ranges from blog posts to pictures and videos on real estate. This material is free real estate information and  is helpful to home seekers. The articles on a wide range of topics like property fraud, consequences of buying from a critically-ill seller, comparison between real estate and gold, deceased estates, activities by major playerslike CABS covered on this blog shows what I mean. Answering important questions on a subject critical in people’s lives is an effective way of creating trust and such devotion enables people to see one as an expert.

Trust is fundamental to ANY relationship. Your business would therefore, expand beyond the small group of your former class mates and relatives because you would have found other brothers and sisters on social media.

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