Real Estate business plan helps the entrepreneur to understand, to visualize, to plan and to identify risks even before making any investments in the business. Preparing a business plan involves detailed research so that all the aspects of the given business is evaluated and appropriate decisions are made. The real estate industry is expected to grow at $180 billion in 2020. The industry, with the housing sector alone, contributes to 5 to 6% of the country’s Gross Domestic Product. Sectors like, IT and ITES, consulting, retail, and e-commerce had shown a high demand for office spaces. The major expenses in starting a real estate business will be on legal, construction, equipment, rent, insurance, consultants, initial cash required, advertising and marketing.
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All organizations are made up of group of capabilities that are coming from People, Processes and Systems. These capabilities are working together in a seamless manner to deliver the requisite capabilities to the customer. The various capabilities that need to be addressed in a real estate business plan are given below:
Apart from the owner or the CEO, there can be a CFO, admin manager, brokerage manager, agents, development manager and other office staff.
Managing the customers, agents, property owners and other regular marketing activities involved are cold/warm calls, community involvement and floor time; follow up, face to face visits, posting blogs and updates.
The required systems are property management system, cash management system, marketing and advertising system, computer, printer, and other office stationaries.
Most of the businesses have professional bodies across the globe and being associated with these organizations tremendously helps in understanding the current trends in business. Some of the professional bodies are listed below for your reference:
Confederation of Real Estate Developers' Associations of India15825 N. 71st Street, #100, Scottsdale, AZ
National Association of Realtors430 N. Michigan Avenue
Chicago, IL 60611-4087
NAREB - National Association of Real Estate Brokers9831 Greenbelt Road, Lanham, MD
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