Real estate firms are responsible for providing real property facilities to individuals. They operate in particular areas to provide services to people. The entrepreneur of real estate firm needs to set some targets that the business should meet in a particular period of time. An entrepreneur is an innovator. Generation and implementation of new ideas is a function one expects an entrepreneur to perform. In fact, a business activity usually commences with the entrepreneur having a business idea. Land, labor, and capital are hired by the entrepreneur and organized to produce services.
Decisions about the location of the premises, prices, salaries are often made by the entrepreneur. As the firm grows, some of the tasks mentioned above are passed down to subordinates. An entrepreneur also assumes risk, as she decides to invest her resources and sets up a business. Money has to be spent without any guarantee of return. There is a possibility of loss in future since she might be unsuccessful in attracting clients or selling real properties.
1) Number of clients
An entrepreneur who sets up a real estate business wants to achieve the goal of serving as many people as possible. This is a goal set in numeric terms. A social scientist states that a business should set goals in numeric terms, goals should be defined in numbers with a clear interpretation. Find more clients and interact with them constantly. Form a database, meet new people and spread the word about your services. Try to promote your business and success stories to attract new clients and serve them, ultimately serving a higher number of clients.
The next target of an entrepreneur running a real estate business is to promote growth. A real estate business usually runs on a small scale, the entrepreneur can expand the business by attracting more clients and targeting new areas. This can be done by forming a database about different areas, keeping an eye on properties in different areas and earning loyal customers and expanding accordingly.