Real Estate Investment involves the buying, ownership, management, rental and/or sale of real estate for profit. Improvement of realty property as part of a real estate investment strategy is generally considered to be a sub-specialty of real estate investing called real estate development. A real estate is an asset form with limited liquidity relative to other investments, it is also capital intensive (although capital may be gained through mortgage leverage) and is highly cash flow dependent.
The Online Real Estate Investment all over the world, even in Nigeria has developed from the normal distribution of flyer and Nigerian dailies/magazine advertisement to the internet due to the cost-effective and the potential of reaching a larger number of prospective clients. Many Real Estate agents in Nigeria today has embraced the online real estate investment to the extent of getting a Website / Blog for their business so that prospective clients can somehow come across their services and patronise them.
Benefits of Online Real Estate Investment
– It reduces the unnecessary travel time, such that meetings can be held in separate offices and even different countries with the use of video calling applications.
– Social Media Networking Marketing is a very important aspect of succeeding in the Real Estate industry and the internet makes it very easy and aids people in connecting with each other through social media platforms.
– Investors can find relevant, educative and innovative Real Estate information and resources at ease via the internet to remain up to date and even ahead of your contemporaries.
– Use of the internet has reduces the cost of communication especially when the parties involved in the Real Estate Investment are in different states or countries.
– It is very cheaper with the use of the internet and it is resourceful as a means of marketing your products and services.
– It is very easy and with the advancement in the internet technology, transactions can be closed quicker due to the ease in the transfer of information.
– The use of Google maps and GPS (Global Positioning System), satellite images as well as coordinates can be retrieved for verification purposes.
– Google maps to aid in the location and direction of particular places not known to a Real Estate Practitioner, thereby saving time and resources.
– Investors can easily transfer transaction files, forms and documents via the internet to ease and fasten the process of real estate transactions.
Since you now know the benefits of Online Real Estate Investment, How do you make use of it effectively?
In responding to the above question, we need to try to put ourselves in the shoes of property seekers, in order to know what they expect when surfing the internet for the property.
– Most property seekers want comprehensive and credible information such as property details and price.
– They want a Real Estate agent who will be able to prove to them that they have a level of Power of Attorney on the property and that you have a good relationship with the property owner.
– They want a have an idea of the visual appearance (pictures) of the property, which will require you to add some pictures to your online Advertisement.
– They want to know the features and accommodation details of the property.
– They want to have an idea of the environment, in terms of safety, nearness to schools, hangouts, hospitals etc.
– For properties which are for sale, they want to possibly see title documents.
– They want to be assured that you will represent them appropriately to the property owner.
– They want to confirm your office address so that they can easily get in touch with you, when the need is, before and after the conclusion of the transaction.
As a Real Estate agent, If you can fulfil the above, you will gain your customers trust and even though they may not need your services when they come across your property or your property does not meet their requirements, you should be rest assured that they will want to contact you when they need such services or refer you to someone who needs it. Also, they can go to the extent of asking you for a property not in your portfolio because they are confident about your services.
Culled from Find Nigeria Property | How to increase Online Real Estate Leads