Understanding the real estate sector

India is one of the most attractive markets for real estate thanks to its economic growth and large population. The increasing need for housing, shops, offices, factories, warehouses and industrial spaces has been a major driver of real estate business in India and will continue to be so in the coming years. Hence, there are multiple business opportunities in real estate ranging from construction companies to real estate agencies.

Real estate business overview

What is real estate business? Real estate business is any business that deals directly in property or real estate. They may pertain to any type of property-related business like construction, property management or proptech. Types of real estate business

Construction firms

They construct all types of buildings including housing, offices and industrial projects. They usually cover all aspects of development from purchasing the land to selling the finished property.

Brokerage firms/
real estate agencies

A real estate agency or brokerage firm brings the buyer and seller together and coordinates the deal between the two parties. They charge a commission for their services.

Property management

They manage large properties like housing societies, malls, and office spaces. They may either be independent companies or offshoots of construction firms and real estate agencies.

Proptech companies

Proptech (property + technology) companies use technology to provide various services to customers like property search, property sale and rent, real estate investment and so on.

Different types of real estate

Residential Real Estate

This category includes residences that are currently on the market as well as those under construction. Individual houses, apartments, cooperative societies etc. are all examples of residential real estate.

Commercial Real Estate

Property or real estate utilised by businesses is referred to as commercial real estate. It includes shopping malls, workplaces, offices, hotels etc. They could be rented or owned.

Industrial Real Estate

Industrial real estate consists of structures used for production, manufacturing, storage, research etc. They include factories, warehouses, flex spaces, data centres and so on.

How to start a real estate business in India

1. Planning the business

Planning the business

The first step is to figure out what kind of real estate business to set up. Will it be a construction business or a real estate agency? Or will it be a property management company? Your decision will depend on factors like your expertise, availability of seed capital etc. Once you know what to set up, you need to create a detailed plan to show investors and stakeholders. If you need a bank loan, a well-crafted business plan makes it easier for you to obtain one.

2. Market research

2. Market research

Run a market analysis. For example, 2.5 BHK flats might be in demand, or perhaps your city needs more office spaces. A proper study of the market will help you decide what to focus on. If you are starting from scratch, you might want to look for a mentor. They could help you identify contacts, provide a list of dos and don’ts, explain the nuances of the real estate market in your area, and help with other things.

3. Registration & licenses

3. Registration & licenses

If you are establishing a real estate company, it must be registered with the Ministry of Corporate Affairs. While real estate agencies or brokers must be registered under RERA.

To make real estate transactions transparent and regulated, the Real Estate (Regulation and Development) Act was passed by the Parliament in 2016. The law makes it compulsory for real estate agents to register themselves with the concerned state-level Real Estate Regulatory Authority (RERA) and obtain a licence.

4. Securing finances

4. Securing finances

Your need for capital could be high, low or moderate depending on the type of real estate business you choose. Expenses may include start-up charges, office rent, staff salaries, and other costs. Construction companies require much more capital as their costs include purchasing land and constructing entire buildings. Banks, investors, and your own money (bootstrapping) are the key fund sources to help you get started.

5. Hiring employees

5. Hiring employees

Every new business requires dedicated staff. The quality of your employees could be a major factor that influences the success or failure of your real estate business. Therefore, it is important to have a robust hiring process that factors in all the demands of a new business like long working hours and ambiguity.

6. Creating your brand

6. Creating your brand

Your real estate company needs to have a unique brand name and brand identity which people can easily remember. Pick a name that exudes trust in your brand. You also need to have a brand voice, proper brand colours and fonts, a brand logo, and comprehensive branding guidelines. Getting your branding right is crucial because it will represent your real estate business in front of the people.

7. Marketing your business

7. Marketing your business

Marketing is a crucial part of any business. An important part of the launch process is to create a marketing plan that is in line with your business strategy. You can use both offline and online channels.

Every business needs to have a well-designed brand website and Boost 360 can be useful here. With Boost 360 you can create a modern business website yourself, without learning how to code, in just a matter of minutes. You can also add e-commerce if necessary, respond to customer enquiries, and start social media marketing for your real estate business with your Boost 360 website.

8. Tracking your business

8. Tracking your business

Once you’ve launched your business, monitor it consistently. Analyse your leads and conversions, watch your revenue, and ensure that your business is sustainable. Boost 360 can provide you with key metrics like web traffic, sales and enquiries, so that you can analyse them and make prudent business decisions. Don’t hesitate to make adjustments to your strategy where necessary to keep your business on track.

Why you need a website for your real estate company

Online business listings are insufficient if you want to attract a large number of customers. Developers, brokers, and real estate agents who want to expand their business must have their own website to showcase trust and professionalism and attract customers. The key benefits of creating a business website are highlighted in this section.

The vast number of prospective customers using the internet to search for homes can be reached by setting up a website for your real estate company. A real estate website that is appealing makes you easily accessible to anybody conducting a web search to look for property options.

A well-designed, well-maintained, and optimised website will appear more frequently in search results. You may get more enquiries from potential buyers looking for houses online as a consequence. If you want to convert visitors into leads, include a simple contact form on your site.

Your website can help your real estate company improve its reputation. Don't forget to include a reviews page or a testimonials page on your website. A detailed and well-designed website helps your business look professional and trustworthy apart from enhancing your business image.

How Boost 360 can help you grow your real estate business

Get found on the internet

Promote your business online

Respond to customer enquiries

Improve your business image

Display your inventory

Take bookings and appointments

Collect digital payments

Showcase completed projects

Frequently Asked Questions

Is it easy to start a real estate business?

It depends on what type of real estate business it is. For example, starting a real estate agency could be easier than starting a construction company which requires men, money and equipment.

The kind of real estate business you wish to start will determine the seed capital. Construction companies are capital-intensive businesses which need large amounts of money, while a real estate agency is a comparatively low-cost affair with an office and staff salaries as the main expenses.

Real estate companies need to be registered with the Ministry of Corporate Affairs. Real estate agents must register themselves with the concerned state-level real estate regulatory authority and get a licence. Businesses also need to obtain a Professional Tax Registration and Service Tax Registration from the concerned authorities.

Besides running your real estate business efficiently and growing your customer base, you need to focus on networking to expand your business. It is also important to maintain a strong online presence so that customers can find you when they are seeking the services you provide.

Boost 360 can help you create an attractive website for your real estate business. With Boost 360 you can create your own business website in minutes, display your inventory, engage in e-commerce, carry out social media marketing and do much more. All these features can be enjoyed at an affordable cost.

You can start with the Online Basic Plan and upgrade as your business grows. Find out more about our subscription plans here .

Need help? We’re here!

Our experts are always here to assist you with any questions you may have, and help you get your business online. If you are interested in knowing more about how Boost 360 and YouTube can combine to help you promote your business online, feel free to connect with us. We would be happy to show you how you can use both these applications to drive online marketing.

Our experts are always here to assist you with any questions you may have, and help you get your business online. And if you want to further improve your online skills, head over to Boost Academy. You'll find many relevant resources there.

Our experts are always here to assist you with any questions you might have, or even help you get your business online.