Everyone who reached the age of understanding the purpose of money is trying to acquire the maximum possible in one or many ways.
Many have a desire to make huge money but only a few have a desire and action plans to achieve it. There are N number of ways you can make money based on your input you are going to get the output.
Real estate is one of the few sectors where money involved is high and the business that happens in and around the real estate is also comparatively higher.
Every business needs a minimum capital to take off the ground it includes real estate business also. But in this digital era, a subset of real estate can be kicked off without capital.
Being in real estate industry for more than three years and in online real estate advertisement for more than a year I have seen people utilizing the online medium to start a real estate business with no money and making a good fortune out of it.
Here I am going to explain you the simple step by step procedure to start a real estate business with no money.
A business is called business when it makes money either through selling a product or service and real estate is not an exception.
Unlike other business real estate sale is open to any individuals to participate and sell the product, it’s a win-win game.
If you sell a property you get a commission and a developer gets a business. Affiliate with developers as channel partner start building wealth.
But how to start this real estate business with no money.
It is assumed you have a device (mobile/laptop) with an internet connection and a little knowledge to operate the same.
Table of Contents
Step 1: Find a developer
You need to sign a contract with developers to advertise and sell their properties.
But where to find the real developers? Are you going to roam street by street? Need not.
It’s simple to choose a real estate developers from the comfort of your home through online portals.
Go to online portals, search for developers, get their contact number and approach them.
Most developers will sign for a maximum of 2% commission in budget segment and 1% cut in luxury class.
Step 2: Advertise your product
Once you signed the contract with the developer collect the necessary project details to advertise.
Without advertisement you cannot bring footfalls to the site but how to do advertisement without money.
In traditional outbound marketing you cannot do advertisement without money and even getting a credit is also cumbersome as you are new to the market.
So here we need to go for on online real estate advertisement portals.
There are many real estate portals offering the first time users one free listing which you can utilize to advertise your property.
Find all the portals in your country offering free listings and start posting it. Wait for few days. If you get responses then it’s great else create another account using different email id or mobile number and start posting it.
You will get the leads for sure.
In India Magicbricks, 99acres, Indiaproperty, and Housing are providing free listings for first time user.
To start a real estate business with no money in the US you can make use of free resources from craigslist, Zillow and Backpage.
Step 3: Nurture the leads
Once the lead is received you need to speak and convince them to visit the site.
The one common complaint all the end buyers predominantly report is agents give false information in order to sell the property. So do not exaggerate anything be prompt and take them through the project as it is.
After a site visit, most prospects won’t pick the call or they will give the token amount immediately either of this can happen.
If they book immediately then it’s great else be patient give them enough breathing time and follow them to close it down.
To manage your leads you can use agent CRM tools like Magicbricks smart Diary (Available for free in app stores)
Step 4: Close the deal and get the cut
Most dealers won’t involve in registration their core job is to connect the buyers with developers and take their cut.
You will be paid after formal registration of the property.
Step 5: Repeat the process
You can either repeat the entire process or invest a small amount for an advertisement from your previous business.
Buy more listings from leading online portals, contact more developers, list out many properties and you are on.
In developing countries like India, 75% of property buyers are going through online search before they finalize their property. There is a huge potential for agents/dealers to make the best out of it.
This is how you can start a real estate business with no money. I have seen many IT employees from TCS, IBM are doing this as a freelance. If you want the proof just comment down.