Running your own real estate agency – good business idea



A considerable number of people decide to buy an apartment, a house, or at least a building lot. Most frequently they seek for an advice from various real estate agencies, which act as agents in selling. Being an agent in such transactions is undoubtedly a very lucrative business idea, however we have to remember about a few important things.

Legal requirements

Most importantly, we have to acquire all the necessary permissions. Apart from a business license and an insurance, running a real estate agency will require getting a real estate broker license. It can be obtained by taking a specific coursework and passing a state exam afterwards. It is vital to analyze the requirements carefully, since every state has its own legal regulations applicable to the business idea described in this article. Additionally, we will need to obtain a legal status, for example by forming a LLC (limited liability company).

Location

The location of our real estate agency will have a huge influence on the success of the business. The more attractive the location, the greater the chance being noticed. Therefore our business premise should be located in the strict city centre. Additionally, the place should be easy to find by our customers. The office should have a clear and coherent style, which will render it very professional. Moreover, it is worth equipping the place with an air conditioning system as well as a separate toilet for the customers.

Equipment

First of all, we will require some office furniture such as tables, chairs, book-shelves etc. Obviously a indispensible device will be a computer along with the operating system as well as the office software package. Additionally, we should invest in a printer, a scanner and a fax. Moreover, we will also need some basic office accessories such as folders, binders etc.

Advertising

Another very important matter is having a solid and detailed marketing campaign. We will require a professional website based on the special offer management system. Furthermore, a good idea is also purchasing some promotional banners (with the company name and logo), that will be placed on the buildings we have in our offer. Finally, we should invest in a coherent visual identification, which help us project a professional image.

Start-up costs?

From $20,000 to $100,000.

Possibility to work from home? 

Yes.

Possibility to work part time?

Yes.

Possibility to enter into a franchise agreement?

No.

Possibility to work remotely?

No.

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  1. Serhii says:

    Start-up costs – about $ 100 000. So huge. Why not to invest that value in bonds, for example?

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