Real Estate Business Ideas to Make Money – Available Opportunities
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Real Estate Business Ideas to Make Money - Available Opportunities

Wherever you are in this world, I am pretty sure that you have heard people saying that there is profit in real estate. What you may not know, however, is that the property business has various ways you can make money within the industry. For this reason, I have come up with the list of real estate business ideas that will help you generate profitable income.

In reality, not all real estate start-up business require large capital to operate. While some of them need large capital injection from you, few others can be started with zero start-up cost.

In fact, you may also go for mortgage financing to kick-start your landed property business.

Therefore, if you don’t have so much money to invest, there are other opportunities for you within the property industry; inasmuch as you are keen on starting up the business, you may look to start any of the listed real estate business ideas in this article.

Looking at the vast opportunities available in this sector, I will take you through the top real estate business ideas with good return on investment. In this article, you will not only get to know the vertical sides of the real estate business that could make you money, but also get an insight on how to get involved.

Without to much ado, here are the 10 best real estate business ideas; you may click on any of the topic to jump to the section on this page.

List of Best Profitable Real Estate Business Ideas

This article is made up of two parts for easy reading. In this part, you will learn all it takes to start earning substantial income from property business.

Now, let’s take a look at each of the real estate business ideas listed above one after the other.

1. Start a Property Listing Website

You may not have a property to sell or rent out, but you can create an online property hub; an online market place where you connect individual players in the industry together.

Two type of property listing website you can start are:

  • A property classified site; and
  • Property auction website.

Whichever type you decide to create, both serve similar purposes. The only difference is, the auction website involves property buyers and sellers, while the classified website also include renters in the equation.

If you are serious about getting involved in the property business, this can be your starting point. It does not require you to have any form of professional qualification; neither do you need to have previous experience.

Although, you don’t need to have real a estate experience, you will need to be able to network with other real estate business professionals. With your own property website, you will become a one stop center for renters, agents & landlords; that is to say, you connect landlords, rentals, agents, realtors and property buyers & sellers together.

Can I ques what you may be thinking?

Well…

You want to know what it takes to build a property listing website. Below, I take you through the process of building your own real estate listing site.

How to Start a Property Listing Website

There are different ways to start your property listing website. To do so, you have to have a clear vision.

Therefore, here are two questions for you.

Why should you build a real estate website?

What difference will your website bring to the table?

Take a thorough look at the above questions and answer the with all sincerity.

To build your own real estate/property listing website website, you also need to decide on:

Who will build the website –  by yourself? or

Seek the services of a professional website builder.

Whatever you decide, it will cost you some money; in general, it is more expensive to seek the services of professional website builder.

Assuming you are building the site by yourself, here is all it take to build and start your property listing website.

Search online for a real estate website script; in general, most of these scripts will cost you less than ₦37,000.00 (equivalent to $100.00)

Install script on your favourite website builder platform (like WordPress, Weebly, Squarespace e.t.c).

Regardless of the website builder you choose, the script should be fit for purpose; that is to say, it should offer you features that matches your criteria.

A good property script should be:

  • Easy to use;
  • Allow location, region or country to be set;
  • Change site language to your desire one;

Currency selection.

Next step: Marketing your property listing website.

Real Estate Business Ideas: Marketing Strategy For Your Website

No one will get to know your website if you do not market it. In other words, you need to start promoting it immediately. To do that, you have to set up a good marketing strategy for your property listing website.

First thing to remember, to make money in the landed property business, you need people to patronize you and your services. These people must subscribe to your services and buy your products.

What will help you to achieve that?

The only way to get people visit your website is through various online marketing channels. These channels will promote your site to the right audience.

Recently, I wrote about – Best real estate marketing ideas (you can read it up). The article has helped many realtors to reach more prospect; at the same time, make more sale.

2. Real Estate Affiliate Marketing

Real Estate Affiliate Marketing, Real Estate Business Ideas, Online Property Affiliate Program

In my humble opinion, this is the easiest route to making money in the property business sector. It require you to put down no start-up capital, and your commission level is average at 10% across the board. In addition, you need too formal education to start.

All that is required of you is to be able to connect buyers with sellers, or renters with property owners.

So……

Regardless of your real estate experience, you will make substantial amount of money as a real estate affiliate marketer. The beauty of this is, it can be done online or offline; just make sure you have a way to track your sales.

In Nigeria, Yokebay property platform pride itself to be the only landed property affiliate program available. If interested, you can join the Nigeria affiliate program.

Here is a question that you may want to ask…..

As a real estate affiliate marketer, what do you do? To put it differently, who is a real estate affiliate marketer?

A real estate or landed property affiliate marketer is an individual or business entity who market and sell products and services in the real estate industry for a commission. In this case, the commission is a financial reward.

Hence, take a deep breathe and search online for such affiliate program in your locality; using Google will give you this results.

Now that you read about the easiest route to making money within the property industry, just go ahead and start doing so.

Hey, wait a minute!

If this real estate affiliate marketing program is that profitable, how much can you take home each month?

In this case, I will use the Yokebay landed property affiliate program to demonstrate your monthly income.

How much can you make as a real estate affiliate marketer?

You can make some good six figures as an affiliate marketer – in thousands of whatever currency you trade in. Nevertheless, there is no direct figure to quote here, but your earnings will depend mainly on your activeness in the program.

For the purpose of clarity, let’s take a look at the figures below for an auction website:

For example, you list a property for sale at ₦30,000,000.00 and your commission is 5%. With that, you make ₦1,500,000.00 ($4,870.13).

Similarly, you are able to help rent out some properties (let’s say ten houses) at a good location, and your commission on those are 10%. Assuming each of those landed properties have an average renting price of ₦1,000,000.00. Over here, you will be talking about ₦2,000.000.00 ($6,493.51).

As can be seen above, an affiliate marketer can go home each month with more than ₦3,500,000.00 ($11,363.64).

As a matter of fact, this is more that many office staff salary each month. The beauty of all affiliate marketing program is that you can do them online from the comfort of your home; and you are not restricted to joining only one program.

In fact, there are more than 40+ work from home businesses that may interest you.

Tips on Becoming a Successful Real Estate Affiliate Marketer

After reading about the amount of money that you can generate from being a landed property affiliate marketer; and you think the program is for you, read on. First thing to remember, you will not get rich over night with any form of affiliate marketing program.

Thus, you need to invest time and energy in your chosen program(s) in order to reap the rewards thereafter.

From time to time, we all learn. Therefore, I present to you the following that I have learnt over the years in the industry. They will guide you through your journey of becoming a successful landed property affiliate marketer.

  • Decide on your marketing medium

Your medium is the means in which you will like to promote the products and services.

  • Research on services and products on demand

Before you decide on which product and/or services to promote, you need to research on both the availability and its demand. By so doing, you give yourself a greater chance of success within the industry.

  • Choose a niche within the industry

If need be, you can decide to choose a particular niche within the real estate industry; or go for all. Be that as it may, the decision is yours.

  • Make use of different traffic source for promotion

How do you intent to promote your affiliate products and services?

There are different promotional tools and channels out there to use. Pick the most appropriate one (or combine few) that will help you reach the maximum targeted audience.

For example, if your target audience are in a particular location and online, I will advice you to make use of:-

  • Search Engine Optimization (SEO) marketing strategy;
  • Social Media Marketing Strategy; or
  • Email Marketing Strategy.

First thing to remember in using the above channels is to define your target audience. However, you need to also know that it cost you nothing to join an affiliate program.

  • Test, Record, Track and Measure your affiliate marketing campaign

Obviously, you have put all that is necessary in place; at the same time, started promoting your affiliate products and services. So, what is next?

You need to test and record the performance of your campaign. By so doing, you will be able to analyze your promotion performance. Not only will the analyses give you detailed analytical view of your promotion, but also pin-point those channels doing well to you.

Finally, track and measure your performance. If need be, try to improve on your strategy.

3. Become a Real Estate Agent

Here comes one of my favourites within real estate business ideas topic. In order to become a successful real estate agent, you are required to acquire some industry knowledge. In addition, you need a start up capital and some certification within the industry too.

Each country has their own standards requirement needed to have been satisfied before you can become a professional real estate agent. To emphasize on my point, I will use three countries from three different continents as an example to support my statement.

Here they are:

  • Nigeria: The Association of Estate Agents in Nigeria (AEAN) give more insight into becoming a certified real estate agent in Nigeria.

  • United State of America: American Real Estate Society gives you detailed information on the new AACSB accreditation standard. You can have a look at it here.

and

  • United Kingdom: UK government is very strict when it comes to accreditation. Although, getting accredited in the region is simple. Follow the basic accreditation requirements and register with a redress scheme as a property agent; then, you are allowed to operate in the region.

As can be seen, each of these countries have different structure and requirements to attain for individual looking to practice as an estate agent.

So, where does money comes for you as a realtor?

Top Tips on How to Make Money as a Real Estate Agent

All around the world, getting accredited as a landed property agent is not that challenging. As a matter of fact, it’s easier to become accredited as an estate agent than getting accredited as an engineer or doctor. The most difficult part of this for a realtor is getting to make money.

Hence, here are top tips on how to make money as a real estate agent in Nigeria; or any part of the world that you may be operating.

  • Become a Buyer and Seller Agent

For one thing, most agent start out as a buyer and seller agent to make money. Therefore, the agent will work as a middle man between a home seller and a buyer. In other words, an agent will connect house seller to house buyer; in the process, earn a commission after a successful transaction.

  • Invest in Short let Properties

Tourism is growing globally; and so are short-term accommodation home seekers. Get involve in letting out short stay apartment to renters for maximum income generation.

On the positive side, the rate of return for renting homes on a short let basis is high. You can list your short let apartment for maximum online exposure.

  • Buy Cheap to Rent Out or Flip

As an agent, and with the right connection, you have inside knowledge of what is happening in the industry. Look out for distress home sales, bank repossessed properties or buy cheap at auctions. With those, you can buy cheap and flip the property or rent it out to ever waiting renters.

  • Resell Home for Owners

Indeed, helping property owners to list and sell their home is another great way to make money as a real estate agent. Inasmuch as you know your industry, you can list these “for sale” properties on the right platform to sell. You make your money here by earning commission.

  • Get involved in Commercial Real Estate

As one of my business associate will put it, he will say “Commercial brokerage is the place for supersonic income.” Although, commercial real estate space is not for everyone; but those that play in the space are reaping the rewards.

4. Start Property Management Company

If you are serious about making money with these real estate business ideas, you should set up a property management company. As a property manager, you will manage properties for various home owners, investors and landed property developers.

In general, your role as a property management firm will include:

  • Building management and maintenance.
  • Carrying out general pairing the properties.
  • Collection of rents.
  • Carry out safety checks.
  • Find tenants.
  • Management of accounts.

When looking to secure a property management contract, and you started sending out proposals, make sure you cover the following investors’ concerns:

  1. Spell out how you will minimize cost; at the same time, maximize investors’ earnings.
  2. If possible, demonstrate within the content of the proposal your property management accountability and reporting skills.
  3. You should spell out how you will achieve proper rental collection to the landlord.

Of course, there is money to be make as a property manage, but where is the money?

In property management, you earn commission from rent taken; generally speaking, the property owner pays you 10% (average rate in the industry) from gross rental income.

Hence, the more properties you have under your management firm, the more money you will make.

5. Be a Landed Property Developer

The big one on our topic for top real estate business ideas. Most individuals and business entities always crave to be a landed property developer; because the return on investment is huge.

However, before I go into the nitty gritty details of a real estate developer, let’s take a brief look at the general topic of “Real Estate Development”.

Therefore……

Real Estate Development is a collection of related activities within the landed property sector. These related activities may include – purchase of bare land, development on it and the actual sale of the developed land; additionally, the activities could also involve renovation of dilapidated building or real estate.

On the whole, the development project can be for residential or commercial purposes.

As can be seen, activities involve in landed property development may be huge; therefore, it require a coordinator. This is really the role of a real estate developer.

Hence,

Who is a Real Estate Developer?

Real estate developers are individuals or business entities involved in the coordination of all activities relating to landed property developments.

Therefore, here are the main activities of real estate developers:

  • Buy land;
  • Finance landed property deals or arrange mortgages;
  • Develop building design and coordinate its constructions;
  • Obtain government and public approvals;
  • Make sure all safety regulations are met;
  • Build the structures (or appoint builders);
  • Manage all aspect of the construction process;
  • Accountable for all financial activities (disbursement of funds);
  • Market the developed estate;
  • Coordinate renting out or selling of the property.

If this is an estate consisting of buildings with apartments and flats, the developer can still act as the landlord to all the estate residence. In that case, the developer can still be receiving residual income in the form of ground rent.

For this reason, landed property developers take the greatest risk in the development of a real estate; and as a result of that risk taken, they they receive the greatest rewards too.

Real Estate Business Ideas: How to Become a developer?

As can be seen, real estate developers are entrepreneurs with skills to coordinate realty projects. Becoming a successful landed property developer require you to have vast industry knowledge in the sector. Not only do you need to have hands-on experience, but also have

Looking to get involved?

Let’s take a look at steps needed to become a real developer.

  • Make a choice

First thing to remember, you need to create a clear vision for yourself. To put it another way, decide on the type of real estate developer you want to be.

  • Get trained to acquire experience

Experience always count in all we do; try to get valuable experience in related field. However, this hands-on experience will help you along the way.

  • Boost your educational qualification

With a formal education in real estate development, you stand at a better chance to learn about issues within the sector. Try to get formal qualification in an accredited higher institution.

  • Get certified

Even though this is not compulsory. However, it will add to your credentials when seeking to secure big organization projects.

  • Create a business plan

Like any other business out there, you need to create a viable business plan to guide you all the way.

  • Source for funding

With a viable business plan, you can now start to source for funding. There are serial and sophisticated investor out there that can invest in your business. Additionally, you can source for funding from banks and other government agencies.

  • Start operation

Now that you’ve got the required funding, start operating. I will advice you start small and network with others in the industry. It will give you a better transition into the industry.

  • Add value

Value is key to success in the real estate industry. Make sure you add value into your operation as a developer.

Here is your take-away tip –

Useful Resources on Landed Property Business Ideas

Yokebay

Koye Beckley is an Entrepreneur, SEO specialist and a Trainer. He is the founder of Yokebay.com and has published numerous business related articles that has high ranking position on search engine result pages (SERP). He is passionate about helping business owner grow their online business through search engine optimization (SEO); at the same time, he lives to travel the world.
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