According to Jishnu Kodali Real Estate is really an amazing industry many people want to enter this industry because properties give a lot of money. Many real estate investors and entrepreneurs are making a hell lot of money out of this industry It can be most rewarding if you do it perfectly. Another main reason People love this industry is that of its flexibility and work schedule.
But there are always the two sides of coin success and failure always comes together. If you are thinking that you will always get success in real estate then my friend you really need to think about it. Being Optimistic will not always give you success. You need to have the ability to succeed.
Lets Being straight, the failure rate in real estate is really high. In fact. If you are in real estate today, you will unlikely to be in this industry after five years. There are several reasons people fail in real estate. And today I am going to discuss them. Hi, I am Jishnu Kodali from Slough London, and I am in real estate for many years now.
So let’s see why most of the people never succeed in real estate by Jishnu Kodali
1 Lack of Strategy
One of the big reasons that people will not succeed in real estate is because of a lack of strategy and plan. Every business requires a plan and a proper strategy to succeed so real estate.
You must have the knowledge to understand the market trends. You really need to ask some question to yourself before entering into this industry. Do you know the market?, what are you selling?, How you will set it? Who are your target customers? To survive in real estate you need to answer these questions and make a strategy.
2 Lack of Financial Management
If you are the person who doesn’t even know how to manage their finances and then you really need to get away from real estate. Because the real estate is all about finance. Many people enter into this business thinking they will earn a hell lot of money out of the real estate. Those days were in the past, my friend.
This business is so complicated and competitive that you always have a funding plan to grab the right opportunity at the right time. You always have the plan to invest. And you can do this all by doing efficient financial management.
3 Lack of Risk-Taking Ability
Do you know that most of the successful real estate agents are successful because they took risks in their early days, they have the ability to take risks. This ability is found in very few numbers of people without taking the risk you will never get the success you are dreaming of. You need to have the ability to take risks so that you can beat your competitors and build your own brand.
4 Taking Real Estate as a Part-Time
Here’s a bitter truth that you can never take real estate a part-time job, although you can learn through part-time. but it is not a part-time business. You need to give your blood, sweat, and tears to get success in it.
And one of the popular reason you should never go for part-time in real estate is that buyer and seller will never choose a part-time real estate agent because they are not available all the time like full-time agents and why the buyer and seller would spend their money on such person who is not giving their hundred percent.
5 Not Understanding the Market Trends
One of the reasons that any real estate agent is known for is its ability to understand market trends. One must know the fundamental rules of understanding market trends. Otherwise how you will decide which property to buy or which one to sell, and when to buy and when to sell.
Understanding all aspects are really important in real estate. Most of the successful real estate agents always know where the market is going. And what is the market trend?
Hope you have understood my points, and I hope they will help you to know more about real estate. Thanks for reading this Regards Jishnu Kodali UBS.