Checklist: Starting A Real Estate Brokerage – A Comprehensive Guide For Successful Business Ownership!

1. Decide if you want to open your own brokerage or join an existing firm.

2. Obtain a real estate broker’s license in the state(s) where you will be operating.

3. Create a business plan and determine your startup capital.

4. Choose a business entity, such as an LLC or corporation.

5. Open a business bank account and apply for necessary licenses, permits and insurance.

6. Establish relationships with lenders, title companies, appraisers, etc.

7. H qualified agents and support staff.

8. Identify your target markets and develop a marketing strategy.

9. Find office space and acquire the necessary furniture, equipment and technology.

10. Develop systems for managing transactions and measuring performance.

11. Create policies and procedures that will ensure compliance with local, state and federal regulations governing real estate brokers.

12. Stay up to date with industry trends and best practices.

13. Monitor business performance and make adjustments as needed.