Questions Business and Entrepreneurship

Is real estate a good career?

Airtract

Ricky Lal Rout

Purpose fuels passion

Real estate business deals with the buying and selling of physical properties, be it residential,  commercial or industrial. It had been a huge capital earner, a smart and obvious choice for anyone who wished to score at it. A successful real estate agent needs to have a strong network with a proper business source and referrals.  The two main business approaches are operational and transactional, of which the former deals with the management of assets and properties and the latter includes brokerage. 

Although the developed countries still find it economically secure, India, unfortunately, doesn’t perform well at the real estate business for the time being. A deliberate and too swift change in the Indian economic policy had a disastrous toll over the agricultural and industrial domains as well as ventures that dealt with the transaction of huge sums. Demonetization resulted in the demand for transparency in money deals, which posed a big threat to the real estate business or sometimes called the black money business. More than 30% of the transaction value had not been legally acknowledged in the real estate business. The withdrawal of the 500 and 1000 rupee notes showed a red signal to the illegal possession of money and of course, was a boon to the Indian banks.

Here is good news and bad news. Bad news first, this year is not going to be a cakewalk for the investors and there is a necessity to be equipped with the newest and smartest of technologies. And the good news is the smell of a new change in the real estate business trends.” I get a handsome sum as rent for my one and a half crore worth apartment. Co-living tenants fetch me 12,000 rupees per month which is more than enough to pay back my loans. The sale of the property did not take a nice turn post- demonetization “says a middle-class government employee from Kerala. The residential sector has got more sustenance now when compared to the other two. It will probably remain the same as of pre -demonetization.

Here are a few things to keep in mind before you take an initiative in the real estate business of today. Understand the difficulties to create meaningful client value and the subsequent hurdles to overcome them while getting prepared for the roller coaster ride in the unstable market. This is crucial for all sectors preferably the commercial. Try your best to get much of the tax benefits. Share marketing is a good idea. Also, create innovative business ideas that would go hand in hand with the new norms of transparency. 

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