What is Real Estate? How To Start A Real Estate Business Without Money

Real Estate is a business related to the construction purchase and sale of land, plots, houses, shops, offices, etc. This is the reason why it is one of the most promising business sectors in a huge country like India. According to reliable data, its size in 2017 was equal to 120 billion US dollars. And in the next thirteen years, it was expected to reach 1 trillion US dollars by 2030.

The real estate industry in India is flourishing at a very fast pace. Perhaps this is the reason why everyone is getting attracted to start their own venture in this field. Although real estate in India has not always been a good business as earlier the volatility in this business was very high. But ever since reforms like RERA, REIT, and title insurance have taken place in this sector. Since then the industry has been in better care and zone with transparency and enforcement.

So if you are also planning to enter this real estate market. So before entering into this, you should complete some of your homework. So that later you do not have to regret the decision taken by you. So further in this article, we will try to tell how any interested person can start his own real estate business without money. But before that let us know, what is real estate?

What is Real Estate?

Real Estate can be interpreted as immovable property. In common parlance, it is also called property. This includes land and any improvements on the land. Land improvements include building construction, building improvements, roads, structures, and utility systems. Land rights provide people with the ownership of land, the right to improve it, the right to sell, and the rights over the natural resources available on that land such as minerals, plants, water, etc.

Generally, Real Estate Business means selling and buying land, building and selling houses, selling plots, etc. Therefore, property dealers are also associated with this industry. There are generally four types of real estate in India: land, residential buildings, commercial buildings, and industrial.

How To Start A Real Estate Business Without Money?

Sometimes it sounds strange that the real estate business can completely change the life of any person. That business can be started even without money. But it is true that currently, we will find many such real estate agents or property dealers. They started his journey in this field with no money, but today he is a millionaire.

Now the question arises, is it really possible for any interested person can start his own real estate business without any money? Yes, it is absolutely possible, any interested person can start this business even without any investment. So let us know how? 

1. Assess Your Communications & Networks

To start a Real Estate Business without money, first, you have to assess your communication and network. If we talk about assessment of communication, how much do you like talking to people? How impressed are people by your words? Can you convince people with your words or not? etc. will have to be assessed.

Because a Real Estate Agent should enjoy talking to people. He should know the art of influencing people with his words. And his behavior and personality towards people should be such that people start trusting him. Effective communication helps a real estate agent gain exposure.

Network refers to the acquaintanceship of that person. Because a real estate business can be started without money only when the network of the interested person is strong. He will be able to contact people only if he has good knowledge in his area. And will also be able to know the requirements related to their property.

2. Find People Who Are Looking To Sell Their Property

Start with your network and people you know. In these, you have to identify such people who want to sell their property. Keep in mind that if someone, for any reason, is in a hurry to sell their property, then they may end up selling the expensive property at a cheaper price. Real estate agents can earn more profits on such deals.

To keep expanding your network, if you want, you can also create a group on Facebook, WhatsApp, etc. In which people post their requirements related to selling and buying property. You have to make a long list of people in that area who want to sell their property.

3. Settle Your Own Commission With Property Owners

Since to start a Real Estate Business without money, you do not need to buy any property yourself. Rather, in this entire process you are just playing the role of a middleman. The property belongs to someone else and he has fixed a fixed price for it. You have to find buyers who are willing to buy the property for a little more than the fixed price set by the property owner.

In this process, the difference between the price decided by the owner of the land or house and the price paid by the buyer is your remuneration and commission. In many cases, land and house owners ask property dealers or real estate agents to sell their properties. And in return offer them 2 or 3% commission. Therefore, the interested person needs to meet the property owners and decide on his own commission.

4. Find People Interested In Buying Property

Now the next step for a person who wants to start a real estate business without money is to find such people. Who is interested in buying that property. Keep in mind that no unknown person will buy any property from you unless you have a company. That's why you don't have to pay attention to any unknown person. You just have to find those people among the people available in your network, among the people you know. Who is interested in purchasing that particular property.

What could happen is that you told someone you know, he told someone he knew and he sent a customer to you. But a stranger rarely deals with property personally with a stranger. Therefore, considering such people as your target customers, you have to exert your power over them.

5. Sell The Property And Earn A Commission

Now when a person starting a Real Estate Business has a list of both types of people available. So now his entire focus should be on converting potential customers into actual customers. For this, that person should also have information about future government projects, private projects, etc. in that area. So that while selling the property, he can also tell the customers the benefits of buying that property.

When the person is successful in selling the first property. And he also gets a commission from it. So believe me, this infuses him with double the strength to work in that field. Therefore, he devotes all his energy to finding property and selling it. In this way, he is able to earn a good amount of money from the Real Estate Business started without any money.

When the person becomes a well-known real estate agent or property dealer in that particular area. So now he should get registered as a property agent under RERA. Different states have different fees for such registration. Which can be anything up to Rs 10-25 thousand.

Is Real Estate Agent Registration (RERA) Mandatory?

Yes, according to the new rules, all the people who are involved in the business of selling and buying property. They must register as Real Estate Agents. And different fees have been fixed for this registration in different states. But generally, the fee for this registration can range from Rs 10 to 25 thousand. Now the question arises of, whether RERA registration is necessary, and whether is there any fee involved in it.

So how will anyone be able to start a Real Estate Business without money? The question is legitimate, but the truth is that even today many big property dealers in India are doing their business without RERA registration. Therefore, in the initial phase, this type of business can be easily started without any money personally, without any office or license.

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