Real estate in Ghana is a very broad and lucrative sector. Everyone needs a place to lay their heads at night and this basic need for shelter is what makes the real estate industry an important one. To become a real estate agent in Ghana is not a difficult thing. Anyone can start dealing in real estate as there are currently no formal regulatory bodies set in place to oversee the industry. Finding a client and making a sale is the goal of any real estate agent in Ghana and around the world. However, it is not always easy to make a sale. In this article, we will show you how to find clients and increase your rate of closing sales as a real estate broker in Ghana.
Know Your Market
The first thing you need to do as a real estate agent is to know your market. As stated earlier, the real estate business is a large one but it can be divided into the low end, mid-range and high-end markets.
As the names suggest, the low end caters to the real estate needs of low-income earners. This could be common 1 or 2-year rentals of single rooms, 1 bedroom apartments etc. This market is greatly driven by the locals. Prices for properties within this area are between GHc150 – 800 per month.
The mid-range targets mid-level income earners. These could be people who are working in the government or private institutions. Rentals here include the 1 bedroom, 2 bedrooms, 3 bedrooms etc. The demographic includes married couples and workers. Prices within this range are around GHc800 – 3500 per month.
These properties are luxurious apartments that are designed for comfort and style. This group of people want the best and most comfortable housing solution possible. This group is mainly made up of wealthy individuals, foreigners, politicians, business people and expats living in Ghana. Prices within this range are GHc3500 and beyond.
Knowing which spectrum of the real estate market you want to tackle will help real estate agents in Ghana find more clients.
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Some years ago, real estate agents in Ghana used to do business entirely through word of mouth. It is still being used and is undeniably one of the good forms of marketing. However, it has a limited reach as it is restricted to who you know and if you are starting out, chances are that you do not know anybody. To make things easier, Meqasa was formed to connect real estate agents to potential clients and vice versa. With tens of thousands of monthly visits to the website and thousands of properties listed, Meqasa is the go-to place for any real estate agent in Ghana who wants to gain leads and make sales. Meqasa is suitable for all the spectrums in the real estate industry in Ghana. Whether you have clients who are buying land in Ghana, buying constructed properties or even interested in ancillary services, Meqasa is sure to meet your needs.
Attend Housing Fairs
There are a number of housing Fairs that are run by private developers in Ghana but none of them come close to the Meqasa home and property fair. The Meqasa home and property fair brings together thousands of real estate developers, agents and clients looking to buy or invest in real estate in Ghana. Housing fairs are a very good place to meet clients who are ready to buy or invest in property. Getting a booth at a housing fair is a good way to prospect for more clients. You might even find auction houses for sale in Ghana at housing fairs.
Registering with the GAR
The Ghana Association of Real Estate Brokers (GAR) was formed to help regulate the performance of all stakeholders within the real estate industry. This body has an aim to protect the public interest in real estate brokerage transactions as well as redeem the image of real estate brokers by guaranteeing ethical business from their membership. They do this by training and certifying personnel to work within the real estate industry successfully. Being a part of this body brings added benefits such as:
- Real estate trainings
- Usage of the GAR logo
- Vital industry and association news
- Find a realtor
- Seminars and networking
- Online discussion forum
The MLS allows real estate agents to list and find properties all over Ghana. It is a private network for registered real estate agents. The MLS is a partnership between Meqasa and GAR.
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Following these guidelines are tried and tested ways to gain more clients and leads for your real estate business. As a real estate agent in Ghana it is very important to be connected if you want to find clients.