Most real estate professionals start as agents and join a local brokerage team. This is a natural way to learn the ropes. Working in a local brokerage offers stability, established clientele, and the support of a team. Even experienced brokers will join a brokerage for group benefits and low-pressure career. However, high-flying real estate pros graduate from the creche and are soon ready to start their own real estate business.
This is a natural part of the real estate career for the ambitious and boss-ready. If you want to lead your own real estate team, take control of your clientele, and step up as a small business owner, then your own real estate company is the natural next step. Let’s dive into the advantages of owning your own real estate brokerage.
1) Become a Business Owner
Business ownership has always held a prestige status in our culture. No matter how small the business, an ambitious and enterprising person can always open up shop and build their own team. If you provide a service and have a clientele, then your business is your own to captain.
Take control of your career, reputation, and launch your potential by owning your own real estate company.
2) Full Control of Office Location and Policies
The right office environment is key to productivity. The light level and temperature determine comfort. Noise level, isolation, and music influence focus. Many teams form a synergy because they share preferences in office environment. They like the same music and understand the way each member focuses.
As the boss, you can set the office location, décor, and culture to build the team you work with best. You set the office policies from payroll to desk snacking. Many people thrive when building their own office environment for a new team.
3) Select Your Property List and Clientele
One of the disadvantages of working inside a brokerage is control over the client and property list. You may have some initiative but the company’s clientele is defined by the owner. As a real estate company business owner, you get to decide the properties you specialize in, which you will take on, and your niche of clientele to work with.
4) Build Your Own Team
Many look forward to building their own team. By owning the company, you can hire for your ideal brokerage team. Find people whose skills compliment each other and who build a synergy when they share a working environment. Build an in-office or remote team, and define your own workflow flexibility in that regard.
5) Design Your Own Advertising
The way you advertise defines how you appeal to your clients. Get to know your local community and take charge of outreach that will really speak to them. As the business owner, you can design your own advertising and campaigns to build a clientele.
These days online marketing can make or break almost any business. That’s why it is imperative to learn different digital marketing tips for real estate brokers such as Google remarketing.
6) Organize Your Service Partnerships
Who you work with can define your real estate company. Your builders and repair teams, your painting and home staging teams, and your landscaping teams will influence the look and feel of the homes you manage. You will want to build a whole rolodex of business partners from real estate lawyers and contacts in the titles office to the local best plumbers and roofers.
This is your chance to curate your partner-teams and go-to services that will shape the results of your real estate business.
Buying a Franchise as Your First Real Estate Business
Real estate is a business with a lot of forward momentum. You may own several personal businesses and brokerages through your career and buying a franchise is one way to do it. Just as the best place to learn the ropes was inside a local brokers office, the best way to become a business owner is to start with a franchise and learn how real estate franchises work. Your real estate business franchise will give you an easy model to step into with a network of small business advice to quickly get you on track. Avoid making common mistakes or overlooking critical items on your checklist and get off the ground running as a real estate business owner.
To learn more about furthering your career in real estate and starting your own business, contact us today!