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7 steps to start and succeed in Real Estate in Kenya in 2023

Starting a real estate business in Kenya is something that may not be as easy as it sounds. However, once you get the right tips about it, you can be sure of making quite a profit as there will always be a demand for property.

We have already covered how to come up with a unique business name and performing a company name search Using eCitizen. We even detailed  how to conduct a business name search in Kenya.

Obtain KRA Pin

After registering your company, you can log in to the Kenya Revenue Authority Portal to obtain a pin. This pin is very important because it will enable you open a bank account while also helping to keep your personal and business transactions separate.

 Register with Estate Agents Registration Board

Armed with company name, visit the Estate Agents Registration Board(EARB), which is a regulatory body for estate agency practice in Kenya. EARB is charged with the responsibility of registering estate agents and ensuring that the competence and conduct of practicing estate agents are of a standard sufficiently high to ensure the protection of the public. In case you missed it, we have detailed a separate process of registration with EARB.

 Establish A Web Presence

Create a real estate website  and start building your brand all over the internet. The website should also include a professional email address. It will look much more professional to communicate with real estate prospects and clients using an email address like yourname@yourbusinessname.co.ke than your personal Gmail account. Additionally  set up social media accounts on popular social media platforms like Facebook.

Create promotional materials

Once your website is live, create promotional materials  with your website and office details. These materials include business cards and flyers Consider colors, images, fonts, and a logo in order to create a cohesive look for your brand.

Hire an assistant and get your Taxes right

Find someone to help you stay organized, run errands and sort your taxes on time. An assistant can help you to record and organize your day-to-day business and real estate transactions, keep your bank accounts balanced, produce simple reports, and assist with keeping your financial records in order. In case you do not have ability to hire, read about Real Estate Taxes in Kenyataxation of rental income and capital gains taxes in real estate.

In case you want these services but do not want to hire a full-time staff, we have a solution for you! We shall provide you with a trained real estate assistant to help you pay your bills, maintain filing, run your errands to the lands office, take clients for site viewing, pay your bills while freeing you up for more important tasks. Just give us a call on 0726982982

Secure Office Space

An office is not necessarily required but is good to have so that you are accessible to clients. If your capital is limited, you can get a virtual/shared office then later move to your own office.

Start Selling

Now that you are all set up, you are ready to start. You will need to decide on a niche to focus on for starters. This could be plots for sale, letting of apartments or selling houses among other ideas you may have. We have already created guides on daily habits of successful real estate agentsnetworking as a real estate agent and how to create trust. With this knowledge, you will be unstoppable!

So don’t hold back. Spread your wings and fly!

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