Every business has its own charm. The property business is a business with various opportunities and risks. But in general, this business has several advantages.
1. Property is everyone’s primary need
We know that there are only three primary human needs: food, clothing and shelter. Board alias occupancy is property. For this reason, the residential buying and selling business is a business with a very broad market.
2. Have a selling value that tends to rise
Property prices that tend to always go up are not a figment. Roughly speaking, humans reproduce and multiply. While the earth does not increase in area, even land can be reduced. As a result, the demand and supply tend to be unbalanced. The need always increases, while the supply of property is not certain. This makes property prices tend to always go up.
3. Low risk of loss
Property is often claimed as an asset with minimal loss. Apart from rising prices, property prices are also not as volatile as other investment instruments such as stocks, commodities, or foreign exchange.
4. Can be used as an asset
If for example your property is falling in price, you don’t need to panic and rush to sell it. The price mechanism in the market will always seek a balance. The fall in prices will be followed by a large market demand and prices will return to normal. Thus, property is indeed suitable as an asset for the future.
5. Protected against inflation
Owning a property does require maintenance costs. But if you save assets in the form of money, your assets will be eroded by inflation. One million rupiah this year, will get smaller in value in the next 10 years. However, property worth one million rupiah today, will increase in price in the next 10 years.
How to Start a Property Business
Maybe you’re not sure where to start when it comes to running this business. Here are some suggestions on how to start your real estate business.
1) Make sure you understand the market
The first way to start a property business is to start by doing market research. Market research is very important to ensure that you are buying an asset at a fair price. So, before you decide to take a property for resale, do a price comparison first.
In addition, avoid making a hasty property purchase before learning everything, including:
- price information
- business needs
- flood prone area
- location near the highway
2) Create the widest possible network of relationships
Your name will become more famous as a result of a large and diverse network of connections. That way, it will be easier for you to get property details and more opportunities to collaborate.
3) Seize the Golden Chance
You have to be very careful and not rush into buying property for resale. However, you can act quickly if you find the right property in the right place. The sooner you take risks, the closer you are to making a profit.
Honesty is the cornerstone of every business because it is honesty that fosters customer trust. When customers trust you, it will be easier for you to win their hearts and convince them to buy your property. Furthermore, being honest will increase your credibility with customers, enabling your business to run smoothly in the future.