You’ve decided that it’s time to take the next step in your career and start your own real estate brokerage. So - where do you start?
Starting your own brokerage can be a daunting task, but the more prepared you are the more likely you are to achieve real estate success. There are several things to think about before embarking on your journey to opening your own brokerage such as whether or not you want to go with a franchised company or start from scratch, and how much risk you’re willing to take. While managing your own brokerage gives you more freedom, it also requires you to take on much more responsibility, not just for yourself, but also for a team of agents.
A Real Estate Broker must also be ready to dedicate time, money and creativity to growing their brand. With independent brokerages on the rise, a new broker must also set their business apart from the rest in order to compete. In his contribution to Forbes, Bruce Kasanoff explained that, “the only way to avoid becoming obsolete is to reinvent your role before the marketplace does it for you”. So, on top of just getting your name out there, you must also personalize your services.
We've compiled some tips for success to help you get started.
Be mindful of the following when building your business, so you can skyrocket your real estate brokerage to success: