Real estate investment is a magnetiser. Many people have heard fantastic stories of those who have made it big in real estate and they want to be part of that story. Without any doubt the potential for wealth and constant income has been and will continue to be the drawing point for many. For those who may choose to take this path of seeking wealth in real estate as an agent, a little motivation and guidance will definitely help.
It is possible to work as a real estate agent in Nigeria either as a core real estate professional who has been trained in that field or as an untrained real estate agent. In both cases, the real estate agent works for a commission either as a solo practitioner or in a real estate firm.
Most real estate firms restrict their recruitment to qualified real estate practitioners such as estate surveyors and valuers, quantity surveyors and legal practitioners. The reason for this is obvious. These professionals have the basic training that gives them the heads up in the field. For others, you definitely need to do a little bit of work to function in this sector.
The first key to success as a real estate agent is intense desire, which means that you must be passionate about real estate investment. It is assumed that those who went to school to study related courses in the profession have made that choice already.
You will need to sustain this desire in the days to come. As you will soon discover, not all seasons are the same in real estate .There are dry seasons that could bring thoughts of discouragement to your heart. Your passion to succeed must outweigh any challenges that may come your way.
The second key to success as a real estate agent is education. The real estate field is a very vast field that has various guiding rules and principles. Your knowledge will help you to identify the critical skills that you need to develop as well.
You need to understand the market in which you operate and since it is not possible to master everything at once it is wise to learn it step by step. There are different types of real estate investment properties and each has its own advantages and disadvantages. You can only guide your client based on the amount of information you already possess.
Education goes beyond the four walls of the university or campus but that is definitely a good starting place. But if you are serious about succeeding you will need to invest in personal development. Personal development comes through reading, attending quality seminars and other critical skill building trainings. Continuous learning is the key to self-development. One of the best advice you need to hear is invest in yourself.
The third key to success is sweat equity, also known as hard work. Perspiration must follow inspiration. Passion alone will not take you to the top; you need persistent and consistent hard work. Infact many people give up before they even have the opportunity of enjoying the joy of success. Real estate marketing, for instance, could be daunting and unrewarding for a while. But if you keep at it you will reap a big reward.
Invest in real estate. This is a very important key. Put your money where your mouth is. You learn more by doing than by reading all the books in this world. When you invest in real estate personally you begin to understand the dos and don’ts better. It is also a means of sharpening your soft skills such as bargaining and negotiation.
Another important thing to remember is the need to reach out to as many people as possible or put briefly, networking. Believe it; your network will ultimately determine your net worth. You need to interact well with your local community and the circle that has the capacity to help your business.
You need to let your friends and family know the business you are in. And most importantly you need to get a mentor to guide you especially when you are faced with different complex circumstances.
Finally, start small but expand your reach and your scope. You can gradually move from residential properties to commercial properties. You can master a small neighbourhood and then gradually expand the scope of your operation. Never forget the wisdom of the proverb that the journey of a thousand miles begins with a single step. Whatever happens, stay positive and enjoy the journey.