The property estate business involves buying, selling, and managing real estate properties. There are four (4) main types of real estate enterprise: vacant land, industrial property estate, and commercial property estate. The real estate business is profitable and has massive earnings if wisely exploited. Here is a look at how to begin a real estate business in Zimbabwe.
Real estate in Zimbabwe
- Property Development-For this type of real estate, you purchase property in a well-known area or one that is developing build homes or commercial buildings and sell them for away a considerable amount of money.
- Property Leasing or rent-For this, you need capital to buy the property, then you can rent it. Look for some well-developed spot somewhere you won’t have difficulty finding tenants.
- Real Estate Agents are also known as real estate brokers and work as middlemen between retailers and buyers. They, in return, earn some commission for the work done.
- The land resale-This method demands a considerable amount of money as it requires buying land and selling them. You buy them at a more competitive price then resell at a higher price.
How much capital do I need to start a property estate in Zimbabwe?
The property estate business in Zimbabwe requires a lot of money to begin, but you can always start with little money. Have a well-laid-out business strategy to know how much you are going to use in the company. Since the capital is great for the real estate business, you can secure a partnership or acquire some money to start with minimal capital or no capital. You can also offer services or skills in return to be paid with property though this needs professional experience. The mortgage method is also very common for the property estate business.
Steps to commence a property estate business
- Have a business plan and follow it to the latter.
- Have your real estate business lawfully registered as a Private Limited Company with the Estate Agents Council.
- Register with the NSSA as well for pension and workers insurance.
- Ensure you have sufficient capital to start your real estate business
- Choose and select your specialization.
- Market your property estate business on all social media platforms to get more buyers.
- Create a website where anyone can access your business if interested.
- Finally, register with the Zimbabwe Revenue Authority for tax purposes.
Is the housing business profitable?
The real estate sector is growing very fast and is lucrative. The value of the property increases annually; thus, one can never run out of profit. Nonetheless, the capital required is fairly huge.
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