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The real estate is an interesting business to venture into. After you have done your maths to calculate how much profit you would make as a developer, you may get carried away and willing to take the risk.

However a developer’s focus is on how to get his maths right to avoid tempering with the profit, with less attention paid to the dynamics on how the calculated figures will hit is bank account.

Then he kicks off with what he has seen from few successful real estate project. They have some beautiful girls with branded cars and he replicates that, prints some flyers and every other thing he thinks he has seen. The first month is a good month family and friends have bought a few. The developers is convinced he’s in business and his expectations are high.

Now, he turns to his sales team for further sales and asks: “why are you not selling after all I have sold”? Confusion sets in he feels they are under-performing so he goes the wrong route gets them fired and hires a new set of marketing team.

Luckily this time, one of the persons from the new marketing team also sells to a family member or friend. Somewhere in the developer’s mind, he assumes he is making some great decisions and so the best way to increase sales to him is to continuously hire and fire at every point.

At this point a lot of money has been wasted on overhead which would have been used judiciously if there was a proper marketing and sales plan and budget for the project

Posted By

Olaitan Olatoye Olalekan is a Nigerian businessman, philanthropist, real estate enterpreneur and owner/founder of Olla Realtor LTD, a real estate brokerage & development firm located in Gerogia. He is committed to educating, mentoring, and supporting other entrepreneurs and regularly speaks on his entrepreneurial experiences. As a Realtor based in Georgia, Olaitan also known as OllaWealth provides Strategic Marketing and Transaction Management services to his clients across many markets. His business is built on: Dedication, Communication, Determination, & Trust while embodying the ability to cater and adapt to all of his client’s Real Estate needs.
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