What you need for a real estate agency

To provide intermediary services in the purchase and sale of real estate, you need first of all a good knowledge of the specifics of a real estate business. If you have the necessary experience, then opening your own agency will not be difficult.

Perhaps the most important thing for a real estate agency is its staff, that is, the agents and managers who coordinate their work. You can select agents based on two considerations - either select experienced, experienced professionals in their field, or, on the contrary, try to attract young employees to work for the company, and not for themselves, using their position, like many sophisticated realtors. In any case, the real estate agent needs to be well aware of the legal side of working with real estate, sociable and friendly. The role of personal qualities in the real estate business is difficult to overestimate. As for the managers of the agency, it’s better to use old connections when selecting them, based on their own experience and the recommendations of colleagues. The premises for a real estate agency can be chosen both on one of the main streets and in less busy areas of the city. A real estate office is not the kind of institution every second passer-by will go into, and you do not need high traffic. The main means of attracting visitors to the real estate agency was and remains advertising - the advertising budget will be a tangible fraction of all your monthly expenses. The managers of your agency will be responsible for regularly placing ads in the city’s print media and on electronic bulletin boards, but these measures alone will certainly not enough. Most of the successful real estate companies today have their own websites that can attract a fairly large number of customers who previously did not know anything about each of these companies. Therefore, before starting your work, do not spare money on creating and promoting the electronic resource of your agency, which you need to entrust, of course, to professionals. As for the formal side of creating a real estate agency, you can register it both as a legal entity and as an initiative of an individual entrepreneur; real estate activities do not imply any additional permissions and licenses.

How to open a real estate agency: a business idea