Running your own brokerage can be very rewarding to real estate professionals who want a new challenge. As the owner of a brokerage, you can make more money and be further insulated from the real estate market fluctuations in every region of the United States. With multiple brokers and agents all splitting their commissions with you, you will stand make much more than working on your own and rely less on selling properties one-by-one to make a living.
The first task you’ll have to do before you start your own real estate company is build up enough savings to start and run the company for at least four months. You can’t expect to see enough income before four months to run your brokerage. When you’re figuring your startup costs, consider office space costs, office supplies, branding, marketing, a web presence, and employees. When choosing your office, think about its presentation to clients and employees, as well as square footage and location.
Once you have a location, obtain a brokerage license. Most states require taking a state-approved class and to have at least two years of real estate sales experience. Next, equip your office and draw up a set of expectations for your agents. Then, hire a few trustworthy brokers and get going.
Middlegate Funding is a commission advance service for American real estate professionals. Middlegate offers real estate agents and brokers the chance to use their pending commissions to upgrade their businesses quickly. The company charges the lowest fees in the country.