Keys to entrepreneurship in the real estate sector
Becoming an entrepreneur in the real estate sector is a very attractive option both for people who have previously worked in the sector and want to become their own bosses and for those who are approaching the purchase and sale of real estate for the first time but believe they are equipped for this profession.
But beyond the legal and fiscal particularities of creating a company, what factors should those who want to undertake in the real estate market take into account?
Training is essential
There are several specific courses on valuation, marketing and sales, but the expert recommends above all investing in a more global and longer-term training, such as the one-year master’s degrees that admit both graduates and professionals in the sector without previous university degrees.
Commercial capacity and business plan
It is a sine qua non condition that the future real estate agent has a good commercial capacity, because it is one of the bases of this profession. In addition, “he must calculate what profitability he expects to obtain and what risks he will be willing to take”, according to the expert, especially at the beginning of his business.
“The idea that it’s easy to become a millionaire in real estate has a lot of literature and little reality,” says Gonzalo Bernardos. “Becoming a millionaire in a short time is something that happens very rarely. But most real estate professionals can make a good living. The profession that can offer the best benefits is that of a developer, but it is also the one that implies the most economic risk.
Diversifying sources of income
“The future real estate professional must know that this business is cyclical. For example, if you want to devote yourself to real estate intermediation, you are going to have good times and other not so good times.
Therefore, it is advisable to complete the business with real estate management tasks, with the sale of insurance or sale of mortgages,” explains Bernardos. Therefore, the forecast is increasingly that the real estate agent will go from being just a seller to become a more global advisor.
Vision of the future
It is important to be informed about the evolution of the sector and, especially in the case of those who want to devote themselves to real estate development and construction, “you have to have a great vision of what will happen in the market in the coming times, because a developer buys today and builds tomorrow.
Having a good perspective of what is going to happen is essential. And for that must have macroeconomic training, “says the expert.
The security of a franchise
For those who do not have any previous experience in the real estate sector and want to focus mainly on the sale of real estate, franchises are the most recommendable option. Franchising offers a way of working and an important basic training that makes it easier to enter the market.
Choosing a good location
Although much of the contacts in the real estate market are initiated through the Internet, the location of the real estate office is still very important, because it facilitates contact with potential customers in the area. “It should be avoided at all costs to choose to be located in a mezzanine or a high floor,” says Bernardos. “No one is going to get to that office on impulse.
Avoid aggressive commercial techniques
The new real estate professional should avoid “very aggressive business techniques, such as getting into houses with false arguments, or looking for lists of deceased to find family members who may want to sell inherited homes.
The market increasingly rejects aggressive commercials and, instead, values those professionals who transmit knowledge, elegance and know how to be,” says the expert.
Be an honest professional
Although it may seem obvious, it is a basic recommendation: the real estate professional should not try to deceive his clients. “Sometimes you try to deceive people in a relatively silly way: you advertise a flat as many square metres as it is bigger than it is, or you say that a house is less old than it actually is.
They are foolish deceptions that are also going to be easily discovered, which is going to affect professional prestige and undermine the trust that must be earned by the real estate agent. Nothing better, therefore, than being an honest salesman. The rest is bread for today and hunger for tomorrow.