How to organize a real estate agency

Real estate transactions have always been and remain one of the most profitable business areas. Large real estate agencies earn millions from their intermediary activities. At first glance it seems that organizing such a company is simple. You rent a small office, buy a couple of computers and office furniture, hire a couple of realtors, and that’s it. However, in reality, everything is not as simple as it seems.

Instruction manual

1

It’s really easy to open a real estate agency, but making sure that it brings you income is a completely different matter. Low organization costs lead to the fact that in the metropolitan areas, and in the provinces, the number of real estate companies is off the charts. The competition is so high that it is incredibly difficult for a new agency without a name and reputation to break through to the surface. Having heard stories about "black realtors", people are very distrustful of unfamiliar names, preferring to contact time-tested agencies.

2

Thus, in the first couple you just need to invest a lot of money in advertising your real estate agency. Moreover, this advertisement should create a sense of the high status of your business. Instead of tiny newspaper ads, you need to buy out whole pages and large modules. It is necessary to advertise on local television channels, on the Internet, and high-quality outdoor advertising will not hurt.

3

To organize a real estate agency you will need a database. It includes information on apartments, houses, rooms that are for sale in your city. The wider this base, the more options you can offer your potential customers. You can compose it in the traditional way, by putting up ads on the porches and posting ads in newspapers. You can do it more cunningly, for example, buy an existing database from another agency. You can also get a ready-made database through a realtor, whom you will lure to yourself from another agency.

4

By the way, you will need to pay special attention to the selection of realtors for your agency. Best of all, if the employee already had experience in sales, in particular, he worked in real estate. In addition, a good realtor must be sociable, polite and infinitely patient. The image and reputation of your company will depend on the behavior of these specialists, and word of mouth is the main sales engine.

5

In general, for the opening of a real estate agency you will need a good initial capital. As for the income, you receive it from the commission on completed transactions. Typically, the commission is 5-6%, but in the first stages you may have to lower prices in order to attract customers.