Starting a business is challenging, especially if you choose a period that many people do not consider most appropriate. The evolution of the economy is cyclical and we already know that one period of instability is always followed by another, often longer, of prosperity.
However, many successful businesses have started in times of recession or economic uncertainty. The momentum was much higher once this period was over and things went back to normal.
Why not start a real estate business right this time, taking advantage of the opportunities of the period?
Why choose a real estate business?
Real estate investments have always been perceived as the most stable of investments. People will always need a living space, so the sale of apartments and houses can not stop, regardless of the economic periods we go through. If we can't afford to buy a house, we will rent.
The real estate market will always have customers, and adapting to current demand is one of the ingredients of a successful real estate business.
Read also: Why it is essential to have a business plan for the real estate agency
Real estate franchise, independent real estate agency or real estate investments?
The first thing you need to establish when you want to work in the real estate market is the type of business you want.. What is the best real estate investment for you?
If you want to be actively involved in the market, you will most likely choose to open a real estate agency. But if you look at things as an investment and have the resources to do so, then you will think about renting homes or office space, longer or shorter term.
Being a franchise real estate agency is the best real estate investment for you?
Real estate franchise it is a turnkey business, through which you benefit from all the experience of an already known brand. Choosing the franchise, you will have at your disposal an entire system that will teach you step by step how to run a real estate business, giving you the tools you need to run your business successfully.
In return for your investment, you will receive a support package that allows you access to various resources: business plan, IT resources, marketing (which allow you an effective promotion), specialized trainings and mentoring programs, as well as all the support needed to start your business safely.
You get advice on real estate investing and you don't have to take it from 0. You have all the tools you need to succeed from the start - for many people, franchising is the best investment in real estate, that turnkey business that helps them succeed.
Read also: Real estate business in Romania after the pandemic
It is a good investment in an independent real estate agency?
If you decide to open an independent real estate agency, start-up costs will be lower. You will not pay for the know-how and support needed to start a business, but you will have to learn all the secrets of this business on your own.
You will identify market opportunities and the best solutions for developing your business, but also the best methods of promotion. You will need to make a presentation site and an online and offline promotion plan. With determination, patience and hard work you have all the chances to turn your real estate agency into a profitable one.
Read also: The real estate market in Romania in 2020 – postpandemic forecasts
What real estate investments are the best choices?
If you decide to invest directly in real estate, then here you have several options:
- renting office space or long-term housing
- short-term rental housing
- owning office space to rent in various variants
Investing in a property to renovate and sell again, at a higher price, they are not as popular as in the past, but I can make a profit if you have experience.
The rental market is not the best at the moment, but these periods come with their opportunities. Maybe you will find a house at a better price and you will have a profit even if you rent it at a lower price.. Maybe your area is suitable for short-term rentals - many people now prefer private apartments over hotels, who cannot always ensure the social distance with which they feel safe.
Flexibility is the key word of the period, those who take advantage of opportunities have to win and adapt as well as possible to demand.
Read also: The RE / MAX family extends to the Republic of Moldova
What is the best real estate investment for you?
Like in life, not all options are suitable for everyone. You have to make the choice yourself, but it's good to make an informed decision, after studying in detail all the options you have at your disposal.
If you want a business that involves you 100%, Maybe a real estate agency is the best solution for you. Here you will have to decide between a franchise and an independent real estate agency.
If you are at the beginning, maybereal estate franchise is the key to success for you. If you already have experience in the field, they might rather smile at the idea of an independent agency.
Real estate investments often involve less involvement, but more resources. You will be able to, may be, to keep your job, getting less involved.
Therefore: carefully analyze each variant, taking into account the current moment. Only you can decide which one it isthe best real estate investment for you.