Before we dive in, download our free real estate business plan template to follow along.

Step 1: Identify who you are as a real estate agent

Let’s start with your “why.” Understanding the purpose behind choosing real estate is crucial, as it forms the foundation for your business plan and guides your decision-making process. Defining your mission, vision, and values will help you stay focused and motivated as you navigate your real estate career.

Mission: Your mission statement defines your purpose for pursuing a career in real estate. It clearly states what you’re trying to do, the problem you want to solve, and the difference you want to make.

Vision: Your vision statement focuses on the outcome you want for your clients and community.

Values: Your core values are the guiding principles that shape your behavior, decisions, and interactions with clients and colleagues.

Clearly defining your mission, vision, and values lays the foundation for a strong and purposeful real estate business that enables you to positively impact your clients’ lives and your community.

Step 2: Analyze your real estate market

As a real estate professional, you must deeply understand your local market. This knowledge encompasses key metrics, including average days on market, average price points, common home styles and sizes, and demographic trends. When someone asks about the market, you should be able to recite those numbers confidently without hesitation.

To quickly become the local expert, choosing specific farm areas to focus on is crucial. Concentrate your marketing efforts and build your local knowledge in a handful of communities and neighborhoods. Some places to do research include:

• Your local MLS: Check your hot sheet daily.
• Zillow: Scan through the Premier Agents who show up in your neighborhood.
• Social media: Review who targets their posts in your area.
• Direct mail: Check your mailbox for flyers and postcards.
• Drive by: Drive through your farm areas to see who has signs in their yards.

Once you’ve identified your target areas, start conducting comparative market analyses (CMAs) to familiarize yourself with the properties and trends in those neighborhoods. That way, you’ll provide accurate insights to your clients and make informed decisions in your business.

Remember to research your competition. Understand what other agents working in the same area are doing and who they’re targeting, and identify any gaps in their services. This understanding will help you differentiate yourself from your competition and better serve your clients’ needs. In our real estate business planning template, I ask you to examine and record:

• Trends: Track key metrics, such as days on market and average sold prices, to stay informed about your specific market.
• Market opportunities: Identify situations where there are more buyers and sellers (or vice versa) in the marketplace so you can better advise your clients and find opportunities for them and your business.
• Market saturation: Identify areas where there may be an oversupply of specific property types or price points, enabling you to adjust your strategy accordingly.
• Local competition: Analyze your competitors’ strengths, weaknesses, and gaps in their services to identify opportunities for differentiation and possibilities to create a more meaningful impact.

Remember, real estate is hyper-local. While national and state news can provide some context, your primary focus should be on specific needs and trends within your target areas and the clients you want to serve. By thoroughly analyzing your local real estate market, you’ll be well-equipped to make informed decisions, provide valuable insights to your clients, and ultimately build a thriving business.

Step 3: Identify your ideal clients

When creating your real estate business plan, it’s crucial to identify your ideal client. You can’t be everything to everyone, no matter how much you think you should. And trust me, you certainly don’t want to work with every single person who needs real estate advice.

By focusing on your ideal client, you’ll create a targeted marketing message that effectively attracts the right people to your business — those you want to work with.

Think of your target market as a broad group of people who might be interested in your services, while your ideal client is a specific person you are best suited to work with within that group. To create a detailed profile of your ideal client, ask yourself questions like:

• What age range do they fall into?
• What’s their family situation?
• What’s their income level and profession?
• What are their hobbies and interests?
• What motivates them to buy or sell a home?
• What are their biggest fears or concerns about the real estate process?

Answering these questions will help you create a clear picture of your ideal client, making it easier to tailor your marketing messages and services to meet their needs. Consider using this ideal client worksheet, which guides you through creating a detailed client avatar. This will ensure you don’t miss any critical aspects of their profile, and you can refer back to it as you develop your marketing plan.

By incorporating your ideal client into your overall business plan, you’ll be better equipped to make informed decisions about your marketing efforts, service offerings, and growth strategies. This clarity will help you build stronger relationships with your clients, stand out from the competition, and ultimately achieve your real estate business goals.

Step 4: Conduct a SWOT analysis

If you want to crush it in this business, you’ve got to think like an entrepreneur. One of the best tools in your arsenal is a SWOT analysis. It sounds ominous, but don’t worry — it’s pretty simple. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. It’s all about taking a good, hard look at yourself and your business.

By conducting a SWOT analysis as part of your real estate business plan, you’ll have a clear picture of your current situation and future goals. And don’t just do it once and forget about it — review and update it regularly to stay on top of your game.

Step 5: Establish your SMART goals and sustainability targets

In real estate, you can’t just set vague targets. You need SMART goals (Specific, Measurable, Achievable, Relevant, and Time-bound) that act as the building blocks of your realtor business plan. Your SMART real estate goals should drive everything from growing your client base to reducing your carbon footprint.

The table below shows how to establish strong SMART goals, along with examples that cover both revenue targets and sustainability efforts:

Specific	Focus on a particular niche, outcome, or behavior.	10 closings by September 30, 2025 Cut office electricity use by 5% in Q3.
Measurable	Attach metrics or benchmarks that you can track weekly or monthly.	10 closings by September 30, 2025 5% year-over-year energy reduction
Achievable	Assess past performance and available tools. Set a challenging yet reachable bar.	Ten closed deals are doable in your real estate market. A 5% energy savings is realistic.
Relevant	Ensure that your goal aligns with your core business and has a long-term impact.	Drives commission revenue and grows your business Lowers overhead costs and appeals to eco-conscious clients
Time-bound	Set a clear deadline.	By December 31, 2025. By December 31, 2025, our office should have energy-efficient lighting, windows, and doors.

6. Create your financial plan

Financial planning might not be your idea of a good time, but this is where your real estate business plan comes together. Most of the heavy lifting is already complete, thanks to all the research and strategizing done earlier. Now, it’s just a matter of plugging in the numbers and ensuring everything adds up.

Once you’ve figured out your expenses, it’s time to reverse-engineer the numbers and determine how many deals you need to close each month to cover your costs. If you’re just starting out and don’t have a track record to go off of, no worries! This planning period allows you to set a budget and create a roadmap for success.

If you’re evaluating your starting assets and realizing they don’t quite match your startup costs, don’t panic. This new insight suggests that you must revisit and refine your strategy until the numbers align with your goals. It might take some trial and error, but getting your financial plan right from the start is worth it.

Pro tip: Keep your personal and business finances separate. Never dip into your personal cash for business expenses. Not only will it make tax time a nightmare, but it’s way too easy to blow your budget without even realizing it.

Step 7: Track your progress and adjust as needed

You’ve worked hard and created a killer real estate business plan and are ready to take on the world. However, remember that your business plan isn’t a one-time deal. It’s a living, breathing document that needs to evolve as your business grows and changes. That’s why tracking your progress and making adjustments along the way is so important. 

Here are a few key things to keep in mind:

• Set regular check-ins: Schedule dedicated time to review your progress and see how you’re doing against your goals, whether weekly, monthly, or quarterly.
• Keep an eye on your KPIs: Your key performance indicators (KPIs) are the metrics that matter most to your business. Metrics such as lead generation, conversion rates, and average sales price can clearly show your performance.
• Celebrate your wins: When you hit a milestone or crush a goal, take a moment to celebrate. Acknowledging your successes will keep you motivated and energized.
• Don’t be afraid to pivot: Change course if something isn’t working. Your real estate business plan should be flexible enough to accommodate new opportunities and shifting market conditions.
• Stay accountable: Find an accountability partner, join a mastermind group, or work with a coach to help you stay on track and overcome obstacles.

Remember, your real estate business plan is your roadmap to success. But even the best-laid plans need to be adjusted from time to time. By tracking your progress, staying flexible, and keeping your eye on the prize, you’ll be well on your way to building the real estate business of your dreams.

Why agents need a real estate business plan

Your real estate agent business plan is your roadmap to success. Think of it as your GPS: it maps out where you are today, where you want to go, and the steps to get there. When the market shifts or challenges arise, your business plan is the guiding star that keeps you focused.

A well-crafted business plan helps you:

• Understand your current position in the market
• Set clear and achievable goals
• Create a roadmap for success
• Track your progress and performance
• Make informed decisions and adjustments

Pro tip: Invest the time to create a solid real estate business plan to stay on track, hit your goals, and thank yourself later for avoiding aimless detours in your career. Without it, you risk losing direction and focus in your career.

FAQs

How much would it cost to start a real estate business?

How do I start a small real estate business?

Which real estate business is most profitable?

Your take

Now you’ve got the steps — no more guesswork. A solid real estate business plan isn’t extra work; it’s your edge. Take the time to map it out and make it happen. Have you created your real estate business plan? Share your experience in the comments!

The post 7 Steps to Writing a Real Estate Business Plan (+ Template) appeared first on The Close.

In many real estate-adjacent jobs (like mortgage, escrow, investing, and property management), having a license builds client trust, signaling you understand the industry and meet professional standards. Those with licenses may also better navigate regulations related to transactions, property ownership, and ethical obligations. This helps jobs like loan officers, insurance underwriters, and foreclosure specialists avoid costly mistakes.

Editorial note: All US salaries listed were taken from ZipRecruiter on April 28, 2025.

1. Mortgage loan officer

• Average annual salary from ZipRecruiter: $79,825
• Required skills: Financial analysis, customer service, regulatory compliance, attention to detail, and communication

A mortgage loan officer acts as a client’s personal guide throughout the home financing journey. In this role, you’ll assess the financial situation, explain various loan options, and help the client choose the mortgage that best fits their needs. 

Acting as the liaison between the client and the lender, you’ll ensure that all necessary documentation is in order and that the loan process moves smoothly from application to closing. Your goal is to make the complex world of mortgages understandable and accessible, helping your client secure the keys to their new property.​

While not required, having a real estate license in this job helps by building stronger credibility with clients and real estate agents, as well as providing a deeper understanding of real estate transactions and buyer behavior.

• What you need: You must be at least 18 years old, hold a high school diploma or equivalent, and obtain a Mortgage Loan Originator (MLO) license. This involves completing 20 hours of Nationwide Multi-State Licensing System and Registry (NMLS)-approved pre-licensing education, passing the SAFE MLO exam with a score of at least 75%, and undergoing background and credit checks. Licensing requirements can vary by state, so check your state’s regulatory agency for specific mandates.

2. Insurance underwriter

• Average annual salary from ZipRecruiter: $62,283
• Required skills: Analytical, detail-oriented, decisive, and knowledge of insurance policies

As a real estate insurance underwriter, you’ll evaluate the risks associated with insuring residential or commercial properties. You’ll analyze factors like property location, construction materials, and potential hazards to determine appropriate coverage terms and premium rates. Your assessments help ensure that both the insurer and policyholders are adequately protected. Having a license in this role isn’t a requirement, but having it helps in evaluating property value and ownership records.

• What you need: A bachelor’s degree in fields such as finance, business, or economics is typically required. While not always mandatory, obtaining certifications like the Chartered Property Casualty Underwriter (CPCU) can enhance career prospects. Some states may require underwriters to pass licensing exams, especially if the role involves direct customer interaction or sales.

3. Escrow officer

• Average annual salary from ZipRecruiter: $58,389
• Required skills: Organized, communicative, and detail-oriented with escrow knowledge and time management skills

​A real estate escrow officer serves as a neutral third party who manages the escrow process during property transactions. This job involves ensuring that all contractual terms are met before finalizing the deal.  

This includes handling funds, preparing and reviewing documents, coordinating with buyers, sellers, agents, and lenders, and ensuring compliance with legal requirements. Your role is crucial in facilitating a smooth and secure transfer of property ownership.

• What you need: You typically need at least a high school diploma or GED. Gaining experience in real estate or finance, such as working as an escrow assistant, is often beneficial. In some states, you may be required to obtain a state-issued license, which could involve completing specific training, passing an exam, and undergoing a background check. Check with your state’s regulatory agency for precise requirements.

4. Mortgage processor

• Average annual salary from ZipRecruiter: $50,903
• Required skills: Data entry, document verification, multitasking, communication, and familiarity with loan processing software

You play a crucial role in the home financing journey as a mortgage loan processor. Once a client has applied for a mortgage, you’ll step in to collect and verify all the necessary documents — like income statements, credit reports, and property details — to ensure everything is in order. 

You’ll act as the bridge between the client, the loan officer, and the underwriter, ensuring the application progresses smoothly through the approval process. Your goal is to keep things organized so that the loan closes without a hitch. Albeit the job doesn’t require a license, holding one enables you to have a deeper understanding of the documentation.

• What you need: To get started, you’ll need at least a high school diploma or GED. Certification isn’t always required, but obtaining credentials like the Certified Mortgage Processor (NAMP®-CMP) can enhance your job prospects. Licensing requirements vary by state, so check with your state’s regulatory agency to see if a license is necessary.

5. Title examiner

• Average annual salary from ZipRecruiter: $51,098
• Required skills: Research, attention to detail, understanding of legal documents, analytical thinking, and record-keeping

​A real estate title examiner is like a property detective, delving into public records to verify a property’s legal ownership and uncover any issues that may affect its sale. You’ll scrutinize documents such as deeds, mortgages, liens, and easements to ensure there are no hidden surprises, like unpaid taxes or legal disputes, that could cloud the title.

By providing a clear title report, you play a crucial role in facilitating smooth real estate transactions.​ Improved knowledge of property titles and ownership history is one of the highlights of having a real estate license in this role — even though it isn’t mandated.

• What you need: Many employers prefer candidates with an associate’s or bachelor’s degree in fields like real estate, law, or business. While certification isn’t mandatory, obtaining credentials like the Certified Title Examiner (CTE) can enhance your professional standing. Additionally, gaining experience through roles such as title clerk or escrow assistant can be beneficial.

Note that licensing requirements vary by state; for instance, Arkansas, Kansas, Minnesota, Nebraska, Oklahoma, North Dakota, and South Dakota require title examiners to be licensed, which may involve passing an exam and meeting education or experience criteria. It’s essential to check with your state’s regulatory agency to understand the specific requirements.

6. Foreclosure specialist

• Average annual salary from ZipRecruiter: $57,098
• Required skills: Foreclosure laws, organization, communication, problem-solving, and attention to detail

This role is crucial in navigating the complex and often emotional landscape of property foreclosures. You’ll manage the entire foreclosure process, ensuring it complies with local, state, and federal regulations. This involves reviewing legal documents, coordinating with attorneys, lenders, and homeowners, and sometimes negotiating alternatives, like loan modifications, to help clients retain their homes.

This is another career wherein a real estate license isn’t essential. However, with one, you’ll have an easier time navigating property sales and legal processes.

• What you need: Gaining experience in real estate, loan processing, or financial counseling can be beneficial. Obtaining certifications such as the Certified Mortgage Banker (CMB) or Certified Mortgage Servicer (CMS) can enhance your career prospects and may be required. It’s important to note that licensing requirements can vary by state, so consult your state’s regulatory agency for specific mandates.

Real estate investment and advisory

7. Real estate attorney

• Average annual salary from ZipRecruiter: $140,845
• Required skills: Real estate law expertise, legal research, analytical, attention to detail, logical reasoning, and problem-solving.

A real estate lawyer manages the legal aspects of property transactions, helping clients navigate the complexities of leasing, buying, and selling. You’ll prepare papers like leasing agreements, eviction notices, title documents, and mortgage contracts. You’ll also perform title searches to confirm property ownership and address all legal concerns while representing tenants, buyers, and sellers.

While a real estate license isn’t a requirement for this role, holding one adds credibility and deeper transactional expertise.

• What you need: You’ll need a bachelor’s degree in pre-law, complete law school to earn a Juris Doctor degree, and then pass your state’s bar exam. In some states, lawyers can skip prelicensing education to earn a real estate license.

8. Real estate investor

• Average annual salary from ZipRecruiter: $86,796
• Required skills: Market research and risk assessment

As a real estate investor, you’ll buy and sell properties to generate income. The process typically involves purchasing properties to rent out or renovating homes to sell at a higher price, also known as flipping houses. Some investors also purchase land for future development.

• What you need: While it may be true that you don’t need a real estate license to be an investor, you should still get a license to make real money doing it. When you’re an investor with a real estate license, you can represent yourself in the sale of your properties, saving you upward of 6% (the typical commission for residential real estate sales). In addition, you can represent yourself in the purchase of real estate, allowing you to either pocket the commission or negotiate it off the top of the sales price.

9. Real estate developer

• Average annual salary from ZipRecruiter: $84,748
• Required skills: Project management, financial modeling, negotiation, and knowledge of zoning laws

In this role, you are the visionary behind transforming raw land or existing properties into thriving residential, commercial, or mixed-use spaces. From scouting locations and securing financing to navigating zoning laws and overseeing construction, you’ll orchestrate every phase of a project.

Your role is pivotal in shaping communities, driving economic growth, and bringing architectural concepts to life.​ Note that this is another career wherein a real estate license isn’t crucial — but with one, better insight into property acquisition and zoning regulations is one of the benefits you’ll enjoy.

• What you need: To launch a dynamic career, a bachelor’s degree in fields such as real estate, finance, urban planning, or construction management is often beneficial. Also, obtaining a real estate license can enhance credibility. Note that licensing requirements vary by state, so check your local real estate commission for compliance.​

10. Real estate portfolio manager

• Average annual salary from ZipRecruiter: $84,102
• Required skills: Asset management, financial analysis, strategic planning, communication, and market research

A real estate portfolio manager is like the conductor of a property investment orchestra. You’ll oversee a collection of real estate assets — be it residential, commercial, or mixed-use — to ensure each property performs optimally. By analyzing market trends, assessing risks, and strategizing acquisitions or sales, your aim is to maximize returns and align the portfolio with the investor’s goals . 

Your role is pivotal in balancing short-term gains with long-term growth, ensuring the portfolio remains robust in varying market conditions.​ Additionally, if you hold a real estate license in this role (not required), you’ll have an enhanced understanding of market values and investment strategies.

• What you need: You’ll typically need a bachelor’s degree in fields like real estate, finance, or business administration. Though not always mandatory, obtaining certifications such as the Certified Property Manager (CPM) can enhance your credentials and demonstrate your expertise.

Also, some states may require a real estate license, especially if your role involves buying or selling properties. Gaining experience through roles like property analyst or assistant portfolio manager can provide valuable insights and pave the way for your advancement.

11. Real estate analyst

• Average annual salary from ZipRecruiter: $71,579
• Required skills: Market research, analytical, and data analysis

One technical job with a real estate license is as an analyst. You’ll examine trends and interpret data to provide insights and recommendations for property investments, developments, and other transactions. In addition to observing market trends, you’ll analyze property values and evaluate potential risks. You’ll use all findings to help clients make informed decisions about leasing, buying, selling, or developing properties.

• What you need: If you love finance and economics and want to work in this role, you must gain relevant experience in real estate firms or financial institutions. Staying informed about market trends and the economic climate would be best.

12. Real estate appraiser

• Average annual salary from ZipRecruiter: $91,772
• Required skills: Market research, analytical, and knowledge of appraisal techniques

​A real estate appraiser meticulously evaluates properties to determine their fair market value. You’ll conduct on-site inspections, noting factors such as location, condition, and amenities, and compare these with recent sales of similar properties. Your unbiased assessments are crucial for buyers, sellers, lenders, and investors to make informed decisions. ​Although a real estate license isn’t vital for this career, having one adds perspective on sales practices and market dynamics.

• What you need: You’ll typically start as a trainee, completing at least 75 hours of coursework approved by the Appraiser Qualifications Board (AQB). Next, you’ll need to gain supervised experience — usually around 1,000 hours over six months — before passing your state’s licensing exam. Requirements may vary by state, so check your state’s regulatory agency. As you advance, additional education and experience can lead to higher certifications, allowing you to appraise more complex properties.​

Real estate sales and brokerage

13. Real estate agent

• Average annual salary from ZipRecruiter: $85,793
• Required skills: Communication, negotiation, persuasion, and market knowledge

Whenever you ask, “What can you do with a real estate license?”, the most common answer is to become a real estate agent. You can do this full- or part-time. In this role, you’ll represent buyers and sellers as they navigate the real estate transaction process. 

• Buyer’s agent: Accompany buyers on showings and provide counsel and advice through the property search, selection, negotiation, and contract process. Also, connect homebuyers with the necessary area professionals (like mortgage brokers, inspectors, appraisers, and more) to help them reach the finish line.
• Seller’s agent: Offer counsel to sellers regarding the estimated value of their homes. Additionally, provide a listing strategy, including price, marketing, open houses, etc., and help clients negotiate in the offer process — ultimately getting them to the closing table.

• What you need: The requirements to become a real estate agent vary by state. Some only require 40 hours of prelicensing education, while others need over a hundred hours.

14. Real estate managing broker

• Average annual salary from ZipRecruiter: $98,791
• Required skills: Leadership, management, mentoring, knowledge of real estate laws and regulations

As the captain of a brokerage ship, you’ll be steering both the business and its crew of agents. In this role, one of the more popular careers with a real estate license, you don’t just oversee transactions — you mentor agents, ensure legal compliance, and drive the firm’s growth strategy. From recruiting top talent to resolving complex deals, managing brokers are the go-to leaders who keep the office running smoothly and ethically. ​

• What you need: You’ll first need to gain experience as a licensed agent to become a real estate broker. Most, if not all, states require 2 to 5 years of active practice before you’re eligible to upgrade. Next, you’ll complete additional pre-licensing education — typically 60 to 180 hours — covering topics like brokerage operations, ethics, and risk management.

After passing your state’s broker exam and background check, you’ll earn your broker license. Some states, like Washington, offer a specific managing broker license for those supervising other agents. Be sure to check your state’s real estate commission for exact requirements.​

15. Real estate assistant

• Average annual salary from ZipRecruiter: $48,610
• Required skills: Administrative, communication, and organizational

A real estate assistant assists in managing the day-to-day operations of brokerages. You’ll receive visitors at a brokerage, respond to emails, answer the phone, schedule appointments, and organize paperwork. If you want to work for an agent or broker, your responsibilities will include coordinating property showings, handling client inquiries, and creating property listings. You’ll nail this role if you’re good at juggling multiple responsibilities, and you can take on more responsibilities, like showing homes if licensed.

• What you need: You typically need a high school diploma or equivalent. Some states — such as California, Texas, and Florida — require a real estate license if you’ll perform tasks like showing properties, discussing offers, or handling contracts.

In licensed roles, you must complete pre-licensing coursework, pass the state real estate exam, and undergo a background check. It’s important to check with your state’s real estate commission for specific requirements and restrictions, as duties allowed without a license vary widely by state.

16. Virtual real estate assistant

• Average annual salary from ZipRecruiter: $50,749
• Required skills: Administrative, communication, and organizational

Operating remotely, a virtual assistant (VA) handles tasks such as managing property listings, coordinating appointments, handling client communications, and overseeing social media campaigns. Your role is pivotal in keeping the real estate engine running efficiently, allowing agents to dedicate more time to client interactions and property showings.

This is another role wherein a license isn’t mandatory. However, if you hold one, you can offer broader support, like lead generation or paperwork handling, with more authority.

• What you need: Familiarity with real estate apps like MLS and CRM platforms and social media tools can give you an edge. While no specific licenses are mandated, it’s essential to be aware of state-specific regulations, especially if you’re assisting with tasks that might require licensure. Also, continuous learning and staying updated with industry trends will further enhance your value in this role.

Property management & inspection

17. Construction project manager

• Average annual salary from ZipRecruiter: $97,768
• Required skills: Project management, budgeting, leadership, problem-solving, and knowledge of construction processes

From the initial blueprint to the final brick, a real estate construction project manager ensures every phase — from planning and budgeting to scheduling and quality control — harmonizes seamlessly. By coordinating with architects, engineers, contractors, and stakeholders, you’ll keep projects on track, within budget, and up to code, ensuring that the final structure stands tall and proud.​ Having a real estate license isn’t crucial, but it does help when it comes to understanding permits, zoning, and land acquisition.

• What you need: To kickstart your career, you’ll typically need a bachelor’s degree in construction management, civil engineering, or a related field. While not always mandatory, certifications like the Certified Construction Manager (CCM) or Project Management Professional (PMP) can bolster your credentials.

Additionally, some states may require specific licenses, especially if you’re overseeing certain types of projects or budgets, so consult your state’s licensing board. Gaining hands-on experience through internships or entry-level positions can also pave the way to a successful career in construction project management.

18. Property manager

• Average annual salary from ZipRecruiter: $58,335
• Required skills: Communication, financial management, problem-solving, and knowledge of landlord-tenant laws

A property manager, one of the jobs you can get with a real estate license, handles the daily operations of various properties for owners. You can work for landlords, investors, or building owners by screening tenants, preparing lease agreements, showing properties, and collecting rent. You’ll ensure properties are well-maintained and meet safety standards, as well as address tenant concerns and create budgets, set rental fees, monitor expenses, and report finances to owners .

• What you need: To become a property manager, you must have relevant experience in property management assistance or tenant relations. While certifications for Certified Property Manager (CPM), Certified Apartment Leasing Professional (CALP), or Master Property Manager (MPM) are not legally required, they can significantly bolster your qualifications and are often valued by clients seeking demonstrated professionalism and commitment to the field.

19. Home inspector

• Average annual salary from ZipRecruiter: $60,345
• Required skills: Knowledge of building codes and attention to detail

With this role, you’ll assess properties to ensure they meet safety standards before the property sells. You’ll thoroughly inspect a home’s structural elements, electrical systems, plumbing, and roofing, as well as HVAC systems. You should be detail-oriented as you’ll identify faulty wiring, water leaks, and structural damage. Note that in this career, being licensed as a real estate professional, albeit not required, enhances credibility and understanding of property disclosures.

• What you need: You’ll typically need a high school diploma and completion of state-approved training, which can range from 60 to 194 hours, depending on the state, to become a home inspector. Many states also require passing the National Home Inspector Examination (NHIE). Some states, like Texas and Florida, have specific licensing requirements, including background checks and insurance. See what your state’s regulatory board says to understand the exact requirements.

Education and content

20. Real estate coach

• Average annual salary from ZipRecruiter: $40,970
• Required skills: Leadership, communication, coaching, mentoring, motivational, and industry knowledge

The best real estate coaches mentor industry professionals to enhance their skills and grow their businesses. As a coach , you’ll empower agents, brokers, and other real estate professionals by boosting their confidence and promoting career growth — which is why having your real estate license can add to your credibility (but it’s not a requirement of the role). You’ll pinpoint areas where clients need to improve, conduct one-on-one sessions and workshops, and give continuous feedback.

• What you need: Start by developing your communication skills, managing clients, and producing training materials. Then, work toward marketing yourself, coaching a few clients, and staying updated on training techniques.

Once you work as a real estate coach, you can also be one of the leading motivational speakers at industry events. Sharing your insights and success stories can inspire others and establish you as a thought leader in the industry. You may also write a book or create courses to reach a bigger audience and expand your network.

21. Real estate marketing specialist

• Average annual salary from ZipRecruiter: $61,031
• Required skills: Creativity, digital marketing, market analysis, branding, and content creation

A real estate marketing specialist is the creative force behind promoting properties and enhancing a brand’s visibility. You’ll craft compelling campaigns, design eye-catching materials like brochures and digital ads, manage social media platforms, and coordinate events such as open houses.

By analyzing market trends and consumer behavior, you can tailor strategies to attract potential buyers and sellers, ensuring properties stand out in a competitive market. And by holding a license, though not mandatory, you will have a better understanding of compliance in advertising listings.

• What you need: A bachelor’s degree in marketing, business, or a related field is often preferred. Some employers may also require a real estate license, especially if the role involves tasks like listing properties or negotiating deals. Certifications such as the Certified Real Estate Marketing Specialist (CREMS) can enhance your credentials and demonstrate expertise in the field.

22. Real estate content creator

• Average annual salary from ZipRecruiter: $116,615
• Required skills: Content development, social media management, video editing, storytelling, and SEO

​A real estate content creator is the storyteller of the property world, crafting engaging content that showcases listings, markets, and industry insights. Whether it’s producing captivating videos, writing informative blog posts, or producing eye-catching social media campaigns, you bridge the gap between properties and potential clients. By highlighting the unique features of properties and neighborhoods, you help real estate professionals connect with their audience and drive interest in listings.​

• What you need: Familiarity with real estate concepts, strong writing skills, and proficiency in content creation tools like Canva or Adobe Creative Suite are valuable assets. While no specific licenses are required for this career, understanding local real estate regulations can enhance the quality and compliance of your content. Building a portfolio that showcases your ability to create compelling real estate content is key to attracting clients or employers.

You can start by gathering real estate social media content ideas for your platforms. You can also partner with real estate brands, software, or platforms and promote them on your page to earn extra income.

23. Real estate photographer

• Average annual salary from ZipRecruiter: $62,338
• Required skills: Photography, lighting techniques, photo editing, and attention to detail

​A real estate content photographer captures images that highlight a property’s best features and appeal to potential buyers. You’ll photograph interiors and exteriors, ensuring each shot showcases the space’s unique charm. Beyond snapping pictures, you’ll handle editing tasks — adjusting lighting, color balance, and composition — to produce polished images ready for listings, brochures, and social media.

• What you need: You’ll need a solid understanding of photography principles, which can be gained through formal education or self-study. Investing in quality equipment, like a DSLR camera with a wide-angle lens and a sturdy tripod, is essential. Proficiency in editing software such as Adobe Lightroom or Photoshop will enhance the appeal of your photos.

24. Real estate instructor

• Average annual salary from ZipRecruiter: $63,144
• Required skills: Communication, passion for teaching, and in-depth knowledge of real estate principles and practices

As a real estate instructor, another one of the jobs you can get with a real estate license, you act as an academic guide for aspiring agents and brokers, delivering structured education on topics like property law, contracts, ethics, and finance. You’ll teach pre-licensing courses, continuing education, and exam prep — often in classrooms, online, or at real estate schools.

• What you need: You’ll typically need an active real estate broker’s license (required in many states) and several years of industry experience (often 3 to 5 years). A bachelor’s degree in business, real estate, or a related field is often preferred, and teaching or training experience is a plus.​

Some states, like Texas, require instructors to complete specific training and pass exams for certain courses. Becoming a certified real estate instructor may even involve completing instructor development courses and obtaining certifications like the Certified Real Estate Instructor (CREI).

While both real estate instructors and coaches aim to educate, their approaches differ. Think of instructors as classroom teachers, while coaches are personal mentors guiding you through real-world challenges.

• A real estate instructor typically teaches standardized courses required for licensing, focusing on regulations, ethics, and foundational knowledge.
• A real estate coach offers personalized guidance, helping clients set goals, develop strategies, and improve performance based on individual needs.

25. Real estate writer

• Average annual salary from ZipRecruiter: $71,656.25
• Required skills: Excellent research, writing, SEO, and creativity

​As the wordsmith of the property world, you’ll be crafting engaging content that informs, educates, and captivates. From blog posts and market analyses to property descriptions and newsletters, you’ll translate complex real estate terms and concepts into digestible narratives.

Whether working for agencies, publications, or as freelancers, your storytelling skills help demystify the real estate market and highlight the unique features of properties. Think of yourself as the bridge connecting real estate professionals to their clients through compelling prose.​

• What you need: A background in journalism, communications, or marketing can be beneficial. No specific licenses or certifications are required, either, but staying updated with industry developments is crucial, as is knowledge of SEO if writing for digital publications. Building a diverse portfolio showcasing your writing on real estate topics can open doors to opportunities in this niche field.

Frequently asked questions (FAQs)

What skills are necessary to succeed in the real estate industry?

Is it possible to have side hustles in real estate?

What are the challenges of a career in real estate?

Which states do real estate agents make the most money in?

How to make $100,000 your first year in real estate?

The post 25 Jobs You Can Get With a Real Estate License appeared first on The Close.

Step 1: Decide if a Real Estate Brokerage Is Right for You 

Starting a real estate company comes with its own set of risks and demands. It takes a good chunk of time, money, and effort. Even if you’re pumped and ready to begin, it’s helpful to know what to expect. That way, you can stay focused and navigate the inevitable ups and downs that’ll come your way. Here are some pros and cons to help you decide.

Step 2: Evaluate Your Goals

To be successful at any difficult task, it’s important to set clear goals. It’s easy to daydream about what your ideal brokerage would look like, but figuring out what it takes to get there and making a solid plan will help make that dream a reality. Aside from the startup costs of opening a brokerage, consider the following factors:

Pro Tip: Take some time to put together a statement that outlines your mission (why you’re doing this), vision (what success looks like), and values (the principles you’ll stick to). It might feel like a small thing, but it’s super important for building a successful business. Every decision you make, every person you bring on board, and how others see your brokerage should all reflect the quality of that statement.

Step 3: Understand the Full Financial Picture 

The expenses associated with starting your own independent brokerage can fluctuate. So, check your state’s specific rules and fees for starting a business, as these can differ significantly. Here are some typical expenses when forming a brokerage.

If you need to upgrade to a real estate broker’s license or need continuing education, check out The CE Shop. This online education platform offers broker licensing in 21 states and continuing education for all 50 states and the District of Columbia. The CE Shop is known for its user-friendly interactive dashboards and outstanding learning tools. It also offers a pass guarantee.

Step 4: Learn About the Types of Brokerages 

It was the norm for every real estate brokerage to have a physical office. But with the rise of the internet, most agents work remotely. With this change, we’ve seen an increase in virtual real estate companies. Let’s take a look at some of the different brokerage options.

Real estate companies operate in many different ways. Therefore, it’s up to you to decide which of these styles you want to invest in. Some key considerations when deciding which office type best matches your operational goals are your location’s visibility, the local market activity and trends, and your competition. Also consider the cost and size of office space you need and what your ideal clients need in terms of location, conference rooms for closings, and accessibility. 

Step 5: Conduct a Market Analysis

The next step is to see if your dream brokerage fits into your chosen market. To do that, you must analyze the competition by evaluating the local firms’ market share. Look for gaps in their marketing and branding you can fill. Assess what the successful brokerages are doing right and what you could improve in their model and culture. Consider what’s missing that could add value to attract top agents, including technology, lead generation options, team-building assistance, and training and mentoring.

Do you need lead generation tools for your brokerage and agents? Look no further than CINC. Its AI assistant, Alex, is available 24/7 and will reach out to leads at the right time with a message that meets their needs. It also offers location-specific IDX websites for your listings which drives highly-targeted traffic to you. It also tracks where leads are in the buying cycle.

Step 6: Create a Business Plan for Your Brokerage

The next step is to create a business plan for your real estate brokerage. This is one of the most essential documents you’ll write for your business. Your plan should be thought out and researched. In addition to the steps in your real estate investment business plan, include commission splits and fees, agent training and services, and your talent recruitment strategy. Consider if you’ll add lead generation, technology, and your marketing and advertising resources. 

Also, weigh your commission split plan with what tools your brokerage will pay for. Your office plan, management structure, and policies and procedures should all be defined in the business plan.

Pro Tip: Figure out how much money you’ll need to keep the business afloat for at least two to six months without revenue—longer, if possible. Keep in mind that this is separate from your personal financial cushion that supports your life in the interim.

Step 7: Build Your Brand

When going through the process of how to start a brokerage for real estate, building your brand is an essential part. This gives you a chance to have some fun and get creative. Here are the core components of any strong brand:

• Your brokerage’s name: What you name your business is one of the most important decisions you’ll make. It’s the key to every great brand and will help drive brand recognition.
• Your brokerage’s logo: As a visual representation of everything your brand stands for, your brokerage’s logo is the second-most important element of your brand. This helps people recognize your brokerage even without hearing or seeing the name.
• Your brokerage’s slogan: A memorable slogan, also known as a tagline, can help get more leads and close more deals. This gives your audience an indication of how you operate and what it would be like to work with your brokerage.

Step 8: Finalize Business Essentials 

There are a few remaining essentials before opening your real estate brokerage. These include securing financing, obtaining necessary licenses and permits, and opening bank accounts. These steps are crucial before you can officially open your doors. Once everything is in order, you’ll be ready to launch your business! 

Secure Financing

Unless you own the real estate for a brick-and-mortar business, financing can be tricky in this industry since real estate brokerages don’t have large assets to lend against. If you are opening a virtual brokerage, without a proven track record or assets that you can put up for collateral, it can get tricky. Some franchises help secure or provide financing to their franchisees. 

Other funding avenues include bank and small business loans, private equity, and hard money lenders. Without a track record of operating a successful business, you can also seek startup funding from friends and family, bootstrapping through personal savings and reinvesting business revenue, and real estate crowdfunding.

Obtain Required Licenses & Permits

Review your state-specific requirements for licenses and permits for operating a brokerage as they vary from state to state. Aside from general business licenses and permits, you need to be compliant within the real estate industry. Reach out to your local and state associations and work with them to fill out the proper paperwork and pay the required bond and fees. 

Open Business Banking Accounts

Every business requires a bank account, but real estate companies also need escrow accounts for transaction deposits. These accounts help keep business funds separate from client funds, ensuring compliance for your brokerage. The escrow or earnest money deposits require separate accounts for each transaction.

Cover Your Legal Bases 

If you’re working with partners, it’s important to agree on revenue shares. Also, keep in mind that everyone is responsible for any expenses or losses that come up. Setting up as a limited liability company (LLC) could be a good option for your business, but check with a lawyer and CPA to figure out what’s best for your specific situation.

Buy or Lease Office Space

If you’ve opted to go the brick-and-mortar route, you’ll need office space. The cost of office space varies significantly based on location and whether you rent or buy. Here are a few tips to help you find a space that works. Start small. Consider coworking spaces or subleasing in offices with some technology infrastructure, such as internet access. Pay attention to aesthetics and make sure your space is well-furnished and professional. Choose a location that is convenient for agents and customers.

Step 9: Recruit & Retain Agents 

Try to get a decent mix of buyers and listing agents. Recruiting listing agents is more difficult than buyers agents or newbies. Investing the time, effort, and money into recruiting is worth it. Every new listing agent you recruit helps build your brand. Consider these tips as you get started:

Pro Tip: Review your non-compete agreement if you came from leadership in another brokerage. It may prevent you from reaching out to agents at your previous company for a period of time.

FAQs

What is a real estate brokerage earning potential?

What are some obstacles when opening a brokerage?

What is the difference between a broker and a brokerage?

Bringing It All Together

We’re just scratching the surface here but with this guide and the right motivation, financing, planning, and vision, you now know how to start a real estate brokerage firm. Have you been down this road before? Or maybe you have specific questions about your market or situation. Let us know in the comment section!

The post How to Start a Real Estate Brokerage in 9 Steps appeared first on The Close.

What are Real Estate Domain Names?

Real estate domain names are web addresses (URLs) that represent your real estate business online. They are the links that clients type into their web browsers to find your real estate website. A domain name for real estate serves as your digital identity, making it easier for potential clients to locate and remember your business. Your domain name should be unique to you and a part of your overall branding and marketing strategy. 

Why You Need a Great Name

Picking the right domain name for your real estate business can boost your online presence, make your brand more recognizable, and attract more clients. It’s like having a prime location for your business online. Strong real estate domain names help build credibility and trust with potential clients. It’s often their first impression of your business, and a catchy, professional domain can really make you stand out. 

Plus, a good domain name can improve your search engine rankings, making it easier for clients to find you. Taking the time to choose the perfect domain name for real estate is important in building a successful online presence for your business.

Excellent Real Estate Domain Name Examples

Before getting into the nitty-gritty, let’s check out these examples of great real estate domain ideas for realtors. They’re memorable, professional, and perfectly capture their brand. These examples can help spark ideas for your own domain name, making sure it stands out and represents your business effectively.

P.S. Some of these are available if you’re looking

Bruce Ailion is hard to beat when choosing great real estate domain names. He was lucky enough to snag locationlocationlocation.com. But that was years ago, and all the good domain names are taken now, right? Not so fast. Keep reading to get The Close’s tips and name generator (#9)!

Tip 1: Understand Your Brand

Before choosing your real estate domain name, you must clearly understand your brand. It should be a natural extension of your brand identity, reflecting who you are and what you have to offer. Ask yourself these three questions as you start to think about your domain name for real estate.

• What are the core values and mission of my real estate business?: Think about what your business stands for and what you aim to achieve. Are you focused on luxury, affordability, eco-friendly homes, or exceptional customer service? Your domain name should reflect your values.

• Who is my target audience, and what are their needs and preferences?: Know who you’re trying to reach. Are your clients first-time homebuyers, investors, or families? Will you be focused on getting listings or helping buyers? Choose a domain name that speaks directly to their needs and interests.

• What is my unique selling proposition (USP) that differentiates me from my competitors?: Identify what makes you unique. Do you offer personalized service, deep market expertise, or specialize in a niche area? Highlight this in your domain name to stand out and attract the right clients.

With a clear understanding of your brand, you can now focus on the specifics of your realty domain name.

Tip 2: Keep It Short & Unique

When it comes to choosing your domain name, less is definitely more. A short and unique domain name can make a huge difference in how easily your clients find and remember you. Here’s why you should aim for a short and sweet name:

• Easy to remember: If someone can recall your domain after just one glance, they’re much more likely to return to your site. 
• Reduces typos: The longer and more complicated your domain name, the more likely people will make typos and land on another site.
• Enhances brand recognition: It should stand out in a crowded market and reflect your brand’s personality. Make it catchy and distinct.
• Shareable: Whether you’re sharing it verbally, in print, or online, a short domain name is much easier to pass along if it’s easy to say and spell.

Pro Tip: Don’t forget to check your domain name for silly hidden meanings. Sometimes when you take two perfectly innocent words and put them together…Well, you end up with something not so innocent. No one wants to type in Pen Island as penisland.com

Tip 3: Don’t Stress About Keywords

Keywords are great for search engine optimization (SEO) because they help people find you online. Including relevant keywords in your domain name can boost your search rankings. But don’t stress too much about fitting them in. Ranking on Google is super competitive, and keywords are just one piece of the puzzle. 

Overloading your domain with keywords can make it look spammy and hard to remember. Instead, focus on a name that’s brandable, easy to remember, and reflects your business. Keep it simple and authentic to your brand!

If you really want to make an impact, hire a web design company that knows how to rank real estate websites on Google. Agent Image has 24 years of experience building websites for Realtors and using cutting-edge SEO strategies to get you to the front page faster. Click the button below for 20% off.

Tip 4: Choose the Right Domain Extension

Selecting the right domain extension is just as important as the domain name itself. While .com is the most popular and widely recognized extension, other options like .realtor or .biz can offer unique benefits for your real estate business.

The .realtor extension was created specifically for real estate professionals and is only available if you are a National Association of Realtors (NAR) member. Also, NAR has announced a .realestate domain name which is available to anyone wanting to brand themselves within the real estate industry

While this extension can lend itself to a certain level of credibility for your business, there are some other factors to consider. Let’s look at some of the pros and cons of using this extension:

Neutral Effect on SEO: It’s important to note that the domain extension has a neutral effect on SEO. Google and other search engines do not prioritize .com over .realtor or any other extension. The key factors for SEO are the quality of your content, user experience, and overall site performance. So, while a .realtor extension can help with branding and trust, it won’t necessarily boost your search engine rankings by itself.

Tip 5: Avoid Hyphens & Numbers

When choosing a domain name for your real estate business, it’s best to steer clear of hyphens and numbers. While they might seem like a good way to get around the unavailability of certain names, they can create more problems than they solve. Which domain looks professional and easy to remember?

DO: myrealestatebiz.com
DON’T: my-realestate-biz.com

Hyphens and numbers can make your domain name harder to remember, leading to increased typos and confusion when clients try to recall or share your web address. They can also make your site look less professional, resembling spammy or temporary sites. Also, while hyphens were once thought to help with SEO, search engines now prioritize user experience. Clean, straightforward real estate domain names are best.

Tip 6: Check for Trademarks & Copyrights

Coming up with unique names is not as easy as you might think. Using a domain name infringing on an existing trademark can have serious legal consequences. You might receive a cease-and-desist letter, face legal battles, or be forced to change your domain name, which can be costly and time-consuming. 

You wouldn’t believe the number of people claiming a trademark infringement, even on general phrases. As a broker, I once received a cease and desist letter for the use of “Moving from XYZ to City.” Another broker had trademarked the phrase, so my agents in that city could not use that phrase in their marketing. Talk about a headache! Imagine spending countless hours and marketing dollars becoming a local expert, only to discover you violated a trademark. 

Conducting a thorough trademark search helps you avoid these potential pitfalls. Use trademark search tools like USPTO or WIPO to ensure your domain name does not infringe on any existing trademarks. Also, do an online search to ensure you’re not infringing on someone’s copyright. If someone had the domain name first and you began using it, you could face copyright infringement claims. 

Tip 7: Scale Your Website Slowly

One all-too-common mistake agents make in building websites is signing up for an “all-in-one” real estate website platform and loading it up with bells and whistles on day one. There is a big problem with this approach: the price. These platforms sell you on “upgrades” by “tiers” for a reason. They want you to spend money today on features you won’t need for years. 

Instead of feeling pressured to “upgrade” to the next “tier,” try the number one rated agent website platform on Facebook and Google with an average rating of 4.9: AgentFire. AgentFire lets you add features to your site as you scale your business. If your business scales slowly, you upgrade your site slowly. Simple.

Pro Tip: Check your socials. Make sure your domain name is available on Facebook, Instagram, and any other social media platforms you use regularly. It doesn’t have to be exact, but make sure it can tie into your brand.

Tip 8: Think About the Future

When choosing a domain name for your real estate business, it’s important to think long-term. While it might be tempting to pick a name that fits your current situation perfectly, considering how your business might grow and evolve can save you a lot of hassle down the road. Remember, you won’t always be a newbie. So, here are some essential questions to ask yourself before choosing your real estate domain name.

• Are you going to build an IDX website? 
• Do you even know what an IDX website is all about? 
• Will you use landing pages to promote your listings? 
• Will you focus on niche markets like luxury, rentals, or commercial real estate?

These are all important questions to ask yourself when you think about what your business will look like in five years. A word of advice for choosing realtor domain names: plan for growth, avoid trends, stay flexible, and consider your future SEO needs. Choose a name that can grow with your business, and you’ll set yourself up for long-term success.

Tip 9: Pick a Place to Host Your Website

Choosing the right hosting provider is key to making your real estate website perform flawlessly and stay reliable. One highly recommended option is BlueHost. Here’s why BlueHost is an awesome choice for your real estate website:

• Reliable Performance: BlueHost keeps your website running smoothly with a 99.9% uptime guarantee, so clients can always reach you. Reliability is key to maintaining a professional online presence.

• Affordable Pricing: BlueHost offers competitive pricing plans that fit all budgets. Their basic plan starts at $2.95 a month and includes a free domain for the first year, a free SSL certificate, and a one-click WordPress installation, making it an affordable and comprehensive option for real estate pros.

• Excellent Customer Support: BlueHost offers 24/7 customer support via phone, chat, and email. Their knowledgeable support team is always ready to help with any issues or questions, ensuring your website runs smoothly.

BlueHost offers a ton of benefits as your web hosting provider, like reliable performance, easy management, great customer support, and room to grow. These features make it a perfect choice for real estate pros wanting to build a strong, dependable online presence.

Tip 10: Use The Close’s Domain Name Generator

If you’re struggling to come up with a domain name, use our free real estate domain name generator. While there are a lot of sites out there that let you pick a domain name, very few offer good alternatives when the name you want is taken. That’s why we built this free real estate domain name generator. Just plug in your name, farm area, or both, and click generate.

FAQs

How do you choose a domain name for a real estate agent?

How do I create a catchy domain name?

Can REALTOR® be used in a domain name?

Bringing It All Together

Picking the right domain name is key to building a strong online presence for your real estate business. Keep it short, unique, and easy to remember. Avoid hyphens and numbers, think about your future growth, and check for trademarks. While keywords are helpful, don’t stress too much about them. A great domain name boosts your credibility and attracts more clients. Take your time, get creative, and choose a name that truly represents your business.

Have a tip for choosing a catchy real estate domain name that we missed? Have a favorite we’d love? Let us know in the comment section.

The post 10 Tips to Choose Great Real Estate Domain Names (+ Name Generator) appeared first on The Close.

What is a Real Estate Mission Statement?

A real estate mission statement is a concise declaration of your real estate business’ purpose, goals, and the values it upholds. It serves as a guiding light for your team and helps clients understand what your real estate business stands for. A well-crafted mission statement for real estate reflects your commitment to providing exceptional service and trust building and your desire to succeed in real estate.

In addition, your mission statement should be an integral part of your business plan. It sets the tone for your brokerage’s strategic direction and informs your business decisions. Including it in your business plan ensures that every aspect of your brokerage aligns with your core mission, which will help you stay focused on your long-term goals and maintain consistency in your operations.

Why a Mission Statement is Important for Your Real Estate Business

The real estate mission statement is important and necessary because it aligns your business with clients who share your values. It will be the foundation of your business, and you will continuously refer to that statement as the guiding force behind your business strategy and decision-making processes. A strong mission statement communicates your commitment to excellence and service, building client trust and differentiating your brokerage in a competitive market.

How To Create a Mission Statement for Real Estate

At first, creating a mission statement for your brokerage may feel daunting if you’re not great with words or as creative as other real estate professionals. Simply take some time to reflect on the points below to help guide you through crafting a mission statement for real estate agents.

Creating a realtor mission statement involves a few key steps:

1. Identify your purpose: Reflect on why you started in real estate. What do you hope to achieve? What makes your business unique?
2. Define your goals: Outline your primary objectives. These could include customer satisfaction, market leadership, or community impact.
3. Incorporate your values: Consider the principles that prompted you to start your business. Integrity, innovation, and client focus are some examples of values. 
4. Keep it concise: A mission statement should be brief yet impactful. Aim for one to two sentences that convey your message.
5. Seek feedback: Share your draft with trusted colleagues or mentors to get feedback. They may have a different perspective that adds to a compelling mission. 

Realtor Mission Statement Examples

To inspire your real estate mission statement, we’ve compiled five real-life examples of real estate mission statements that guide the success of some top-performing brokerages. These examples highlight how a clear, concise mission can guide business strategy and communicate your commitment to your clients. Here are our top picks:

“Keller Williams ONEChicago is a real estate company with a clear mission to build careers worth having, businesses worth owning, lives worth living, experiences worth giving, and legacies worth leaving.”

“Our mission is to provide the consumer with the highest level of service of any Real Estate company thereby ensuring that properties are sold or leased in an exemplary manner. We endeavor to deliver professional service to clients and customers so that transactions are completed to the satisfaction of all concerned.”

“We aim to delight and surprise our clients, deliver exceptional service, and exceed their expectations at every step in the transaction. Our goal is to make the real estate process memorable and one that our clients want others to experience.”

“Our mission is to provide our clients with the highest quality of brokerage services available. To bring a value-added and highly qualified team of real estate professionals to the table for all of our clients from the smallest to the largest. To provide our clients with extensive market analysis and expertise that fosters innovative solutions and rewarding real estate opportunities.”

“At Manderley Real Estate, our mission is to inspire you to reimagine your lifestyle through exceptional real estate experiences. We are committed to providing innovative solutions, personalized services, and a passion for locating properties that elevate your life.”

FAQs

How long should a mission statement be?

How often should I review my mission statement?

Where should I display my mission statement?

Bringing It All Together

Creating a realtor mission statement for your brokerage is an exciting and essential step in building a successful real estate business. It defines your purpose, guides your team, and communicates your values to clients. Ensure your mission statement is ambitious and realistic to represent your real estate business. It may take some time in the beginning to create, but once it is complete, you should let it be the beacon that guides your brokerage to success!

The post Craft an Inspiring Real Estate Mission Statement appeared first on The Close.

What Is Real Estate Branding & What Makes a Great Brand?

Simply put, real estate branding is the consistent techniques and strategies professionals use to market their services, build authority in the real estate space, and attract clients. As a senior brand strategist at Sell It, Owner of Elevate Design Studios, and host of the podcast Not Nice. Clever, I’ve worked with hundreds of agents nationwide and beyond on building their personal brands. My mission is to help real estate agents learn how to leverage realtor branding to create a life and business they love.

Ever wondered what makes great branding? It’s the magic that compels you to grab Kellogg’s Frosted Flakes instead of the generic store brand. Why? Because Frosted Flakes are not just cereal, “they’re grrreat!” And who told you that? Tony the Tiger, your childhood companion.

You’ve watched him on TV, sharing breakfast moments with kids ready to tackle the day. He’s dominated billboards off local highways, and when you spot him on the cereal aisle, it’s like seeing an old friend. What’s the appeal of Tony? He’s not just any tiger; he’s 6’3″ of authority and approachability, a figure both kids and the young at heart can respect and admire. Even though those generic Sugary Flakes might taste just as good, there’s a trust factor with Tony that keeps us loyal.

So what does this teach us? If you want to build a loyal following, you have to create a magnetic brand.  

Elements of a Magnetic Real Estate Brand + Examples

It’s easy to think of a real estate brand as a logo or catchy tagline. While those elements may be part of your brand, they are definitely not in and of themselves your brand. There are five key elements that every real estate brand needs. Below, I’ve shared each aspect along with real estate branding examples. Use the guiding questions and the examples to begin to craft your personal brand.

You might be surprised at how much you already know about your real estate branding that you aren’t leveraging yet. While you may know these things about your brand, the bigger question is, are you sharing this with your audience in a meaningful way?

Let’s dive in. 

Element 1: Your Brand Story

How did you get here? What transformation happened that has led you to this place? Why should people trust you?

Think back to before you went into real estate and reflect on the journey it took for you to get here. Maybe you were in a whole other industry, or you were drawn to real estate right out of high school. Name the reasons you entered this industry and the skills you learned before becoming a real estate agent. All these things brought you to this point, so add them to your brand story. People love to hear stories—don’t be afraid to tell them yours!  

Example of a Great Brand Story

Ryan Serhant exemplifies the power of a compelling brand story. Whether you’ve followed his journey on Million Dollar Listing, dove into his insightful books like “Brand It Like Serhant,” or stumbled upon him while scrolling through Instagram, his story captivates. It’s the classic “from rags to riches” tale, resonating with many, yet remaining aspirational. Consistently sharing where he’s been AND where he’s going instills hope and motivation in his audience, ensuring his brand remains unforgettable, leaving the audience thinking: “If he can do it, I could do it too.”

Serhant and Inman (Source: @ryanserhant)

Serhant representing his brand (Source: Facebook)

Book branding with fun real estate headshot (Source: Amazon)

Element 2: Your Brand Values

What do you stand for? What do you believe? How do you serve your clients? 

Your core brand values are the business beliefs you hold near and dear to your heart and wish to instill in all your clients. Think about your brand values as the integrity and backbone of your business—things like transparency, teamwork, expertise, diversity, and quality service—the qualities you would want in a real estate agent. Write them down and prioritize the values that are most important to you. 

Example of Great Brand Values

Glennda Baker, Realtor extraordinaire in Atlanta, Georgia, has built an incredible personal brand rooted in her values. Her content feels effortless to the viewer because it’s rooted in radical authenticity. Her ability to tell stories that draw you in, lean into vulnerability (have you listened to Glitter and Gay?!?), and show off her real estate prowess while maintaining her flavor of southern charm is captivating. Her brand calls in the right people for her and repels the rest. And just in case there’s any confusion … she’s been doing this since “Jesus was a baby.” 

Glitter and Gay podcast (Source: @glenndabaker)

Helping clients move (Source: Facebook)

Relationship marketing podcast (Source: ReminderMedia)

Element 3: Your Brand Attitude

Is your realtor branding humorous or proper? Playful or Zen? What’s the overall vibe? 

If you’re unsure about your overall vibe, here are two things you can do. 

• Send a text to six people, including two friends, two colleagues, and two past clients. Ask them to describe you in three words. See if there are any themes that you can lean into. And if you don’t like the words they chose, decide to show up differently and choose the words that resonate with who you are becoming. 
• Write a list of things you’re not. Sometimes, it’s helpful to work backward. I’d likely write that I’m not stuffy or proper. Knowing what I’m not can help me hone in on what I am.

Example of a Great Brand Attitude 

Shawn King, the witty Realtor from Toronto, is known for his humorous and satirical approach to real estate content. With his innovative editing style and comedic skits, he effortlessly connects with his audience, making himself instantly approachable. Shawn’s content is not just hilarious but also remarkably relatable. He possesses a knack for transforming what could easily be seen as mundane real estate topics into captivating and engaging content. With each post, he keeps his audience on their toes, leaving them eagerly anticipating his next creative twist.

Spicy real estate tips (Source: @sha.king)

Shawn King and The Close collaboration (Source: YouTube)

Funny Instagram post (Source: Instagram)

Element 4: Your Unique Value Proposition

Why should people choose you over your competition? What makes you better? 

This element requires you to take a good, hard look at yourself and your competitors. Other realtors can assist clients with buying and selling a property, so you need to decide what makes you unique from the other real estate agents out there. Your unique value proposition (USP) ties into your values. For example, if you value expertise, your USP could impart real estate education to your clients throughout the transaction. 

Example of a Great Unique Value Proposition

Meet Marie Keaney, a SoCal Realtor with a unique twist. Formerly a teacher, Marie’s passion for education shines through in her work. That’s why she’s launched the innovative Teacher Give Back Program. When you choose to work with Marie, she donates to the teacher of her client’s choice. It’s a heartwarming initiative she showcases regularly on social media, sharing touching stories of the teachers impacted. Marie’s blend of real estate expertise and philanthropy is the defining factor that sets her real estate agent branding apart.

Teacher Give Back in action (Source: @homesbymarie)

Marie meeting up with a former student (Source: Facebook)

Client advice (Source: LinkedIn)

Element 5: Your Brand Look & Feel

What colors and fonts will you use? Is your logo modern and minimal or in your face? 

While it’s tempting to pick your favorite color and fonts, it’s necessary to think outside the box to choose a color and font that will stand out visually and against competitors. Once you’ve decided on your business name, test multiple color and font options on real estate brand marketing materials to see which are visually appealing (especially from a distance). Print out competitor materials and place them next to yours to have friends and family pick the most standout look and feel to ensure it’s yours—if not, change it up! 

Example of a Great Brand Look & Feel 

Paige Fingerhut Charnick, the broker-owner of Beach Equities in Long Beach, CA, recognized the importance of aligning her brokerage’s visual identity with its exceptional service. Established in 1972, the brokerage underwent a logo refresh in 2014, but Paige understood it was time for a fresh update. She realized that as her brand messaging evolved, so should its appearance. 

Drawing inspiration from the California coastline, Paige worked with Elevate Design Studios to curate a color palette that captures the region’s essence. With a keen eye on honoring the professional legacy of the brand, they carefully selected fonts that exude sophistication. Introducing a sun icon infused the brand with a renewed sense of vitality and energy. This transformation highlights the vital role of a visually compelling identity in ushering in a new era of an established real estate brand.

How to Build a Brand With the 3C Method

Knowing each of the elements of a real estate brand is helpful, but how do you go deeper? After working with hundreds of agents nationwide and beyond, I’ve found that you have two choices: You can build your personal brand with intention, or consumers will assign one for you. 

If you’re anything like me, you would like to be in control of your future, which means you need to control your real estate branding. But where do you start? I’ve created the 3C Method to Magnetic Personal Branding to build your real estate brand, and I’m breaking it down for you here. 

Before you build that website, hire a logo designer, host that next event, or write your brand story, sit down and think through the 3C Method outlined below. This is the not-so-sexy part of branding that is absolutely crucial to building a brand that actually connects.

Clients

Building your real estate brand begins with defining your target audience and intimately knowing their problems. When you’re clear about your niche audience, you can make informed decisions on how to curate your brand. 

Ask yourself these questions to clarify the clients you want to work with.

For instance, if you find that your passion and realtor branding resonates best with millennial first-time homebuyers, dig into that niche. Know about their fears of not being able to afford to purchase a home or save for a down payment and lean into that. 

Hone in on your experience working with these individuals and answer your client’s questions before they even ask them with content that demonstrates you understand their struggles. Share stories of past clients like them. All of these things are possible when you know who you’re talking to and understand what you bring to the table.

Content & Collateral

Sharing content that documents the work you’re already doing will amplify your brand. Consistent content and marketing ideas accelerate the trust-building process with your audience and build brand awareness. Use content to share your unique approach and perspective and to craft the narrative of who you are and how you can help. 

What type of Content will you create? 

• IG Reels/Stories
• YouTube videos
• Podcast episodes
• TikTok videos
• Facebook posts
• LinkedIn articles
• Email newsletters

Collateral Examples 

• Booklets/Brochures
• Buyer’s Guide/Seller’s Guide
• Listing checklist
• Presentations
• Flyers

Suppose your niche is working with individuals searching for 55-plus communities. In that case, you might lean more toward creating collateral like flyers and postcards than posting on platforms like TikTok and Instagram, as only 6.3% of TikTok users are 55-plus years of age. However, direct mail in this demographic shows that 50% of Boomers prefer direct mail. Once you know your first C (clients), tailoring your next C (content and collateral) becomes much easier. 

Collaborations & Features

Growing your audience is key to building your brand. The fastest way to grow is by collaborating with brands with similar audiences and values. Seek out opportunities to collaborate and be featured within the industry and beyond. 

How will you collaborate? Who will you collaborate with?

• Going live with others
• Podcast features
• Cross-marketing email campaigns
• Event collaborations
• Fundraiser collaborations
• Reel collaboration

Where will you be featured?

• Local news
• Online publications
• Print publications
• Blog posts

Real Estate Branding Tips

In today’s digital age, your online reputation is more crucial than ever. It’s not just about what people say about you in your community—it’s also about how you’re perceived online. Your digital footprint can make or break your real estate brand. That’s why managing and cultivating your online reputation is essential. 

Here are some additional tips you should use: 

• Gather your brand basics like your real estate bio, headshots, business cards, and slogan.
• Claim your profiles on relevant platforms like Google My Business, Zillow, and social media channels. 
• Ensure your contact information is accurate and up to date.
• Regularly engage with your audience by responding to reviews, comments, and messages. 
• Consistently share valuable content and showcase your expertise online to enhance credibility and shape your brand’s perception. 
• Include your real estate agent branding ideas in a well-thought-out real estate marketing plan and budget for these items.
• (If you feel comfortable) Post personal photos or videos to accentuate your brand and show yourself outside of real estate.

Branded collateral (Source: Candice Carcioppolo)

Branded business cards (Source: Candice Carcioppolo)

Branded stationery collection (Source: Candice Carcioppolo)

By digitizing your reputation, you build trust and create a solid online presence that attracts clients and sets you apart from the competition.

Bringing It All Together

Reflection and direction are the name of the game when it comes to intentionally building your real estate brand. Remember, it’s not just about creating a logo or crafting clever slogans. It’s truly about authentically communicating who you are, what you stand for, and how you serve your community. 

When you harness the power of the 3C Method to Magnetic Personal branding—clarifying your target audience, creating compelling content, and seeking strategic collaborations—you’re not just creating a brand, you’re crafting an experience that will set you apart in today’s market. So, go ahead, dive deep into your brand story, infuse it with your values, and let your unique perspective shine through.

The post Real Estate Branding: The Complete Guide for Agents appeared first on The Close.

With our straightforward guide, we’ll lead you through every step of getting your Ohio broker license. Before you know it, you’ll be expanding your real estate business to new heights. Let’s dive in!

How to Get an Ohio Real Estate Broker License

• Complete your education requirements
• Pass a background check
• Apply for an Ohio real estate broker license
• Take the broker license exam

How Much Does It Cost to Get a Real Estate Broker License in Ohio?

Quick Facts

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Ohio Real Estate Governing Board:

Ohio Division of Real Estate & Professional Licensing

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Experience Requirements:

20 Real Estate Transactions

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Education Requirements:

120-hour Prelicensing Courses and 4 College Courses

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Cost of Ohio Real Estate Broker License Courses:

$3,449 (through Hondros College)

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Total Estimated Cost:

$3,714

It costs about $3,700 to get your Ohio real estate broker license. The cost will depend on the education you’ve already completed as part of your minimum two-year college degree. Here’s a breakdown of the costs involved in getting your Ohio real estate broker license.

Ohio Real Estate Broker License Costs

Getting Your Ohio Real Estate Broker License in 4 Steps

There are a few basic requirements you’ll need to fulfill before you sit for the Ohio real estate broker exam. First, you’ll need to ensure you meet the basic requirements below:

• You must be at least 18 years old
• You must be of good character
• You must be licensed as an Ohio real estate salesperson for at least two of the past five years

Next, you’ll need to make sure you meet the experience requirements of 20 real estate transactions. You’ll include a log of your transactions on your broker license application.

Now, let’s walk through each step of getting your Ohio real estate broker license to take the first step toward running your own real estate business.

1. Complete the Ohio Real Estate Broker Education Requirements

Cost: Varies ($3,449 with Hondros College)
Time commitment: 1 month

In order to become a real estate broker in Ohio, you will have to show proof of completing your 120-hour prelicensing coursework. This coursework must include the following four mandatory courses:

• Ohio Real Estate Law (40 hours)
• Ohio Real Estate Principles & Practices (40 hours)
• Real Estate Appraisal (20 hours)
• Real Estate Finance (20 hours)

Next, you’ll need a minimum of two years of post-secondary education or equivalent hours at an accredited college or university.

Plus, you’ll need to show proof of completing four required courses from a college or university. You may have already completed the required courses as part of your post-secondary degree, in which case they will count toward your broker education requirements. The four college-level courses must be in:

• Financial Management
• Human Resources or Personnel Management
• Applied Business Economics
• Business Law

If you’ve satisfied the college degree and prelicensing coursework, but need to complete your four mandatory courses, we recommend checking out Hondros College. They offer all your required courses individually, or as a package. Their feature-packed Broker Career Start Package includes exam prep for your broker license exam and even your broker post-licensing course for your first renewal.

2. Pass a Background Check

Cost: $50-$80
Time commitment: 2 weeks

In order to sit for the Ohio real estate broker exam, you’ll first need to complete a fingerprinting background check. Webcheck^® administers fingerprinting background checks for prospective real estate brokers in Ohio, and you can find a location near you by visiting their website.

You’ll need a state and national FBI background check, so make sure to choose a site that will submit both your state and FBI records. It will cost between $50 and $80 dollars to complete your background check—just be sure to bring your government-issued photo ID with you.

Supply these “reason codes” to Webcheck^® (BCI&I Reason Code: 4735 05 and/or 121 08 FBI Reason Code: 121 08) and ask them to direct your biometrics results to the Ohio Division of Real Estate and Professional Licensing.

3. Apply for an Ohio Real Estate Broker License

Cost: $135
Time commitment: 1-10 days

You’ll apply for your Ohio real estate broker license exam and your license all at once. Once your application is approved, it will be forwarded to PSI Testing, which administers the broker license exam. You’ll receive an email from PSI Testing with instructions on how to schedule your broker license exam.

The application should take under an hour to complete. It may take longer if it takes time for you to receive official transcripts from your post-secondary institution. You can fill out the application online or by hand, and you’ll mail it to the Ohio Division of Real Estate and Licensing.

Make sure you’ve included the following:

• Copies of official transcripts or course completion certificates
• The completed application and the $135 fee
• A statement describing any real estate experience other than sales and leasing

3. Take the Ohio Real Estate Broker License Exam

Quick Facts: Ohio Real Estate Broker Exam

Quick Facts

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Cost:

$48

schedule

Time to Complete:

3 Hours

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Format:

120 Multiple-choice Questions

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Passing Grade:

75%

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What to Bring:

Two pieces of ID

Once you receive an email notifying you that you’re eligible to sit for the Ohio broker license exam, it’s time to schedule your exam. Visit the PSI Testing website to schedule your exam online.

When you arrive at the testing center, be sure to bring two forms of valid ID and try to arrive 30 minutes prior to the start of your exam. The license exam is administered in one of the eight locations statewide:

• Akron
• Cambridge
• Cincinnati
• Cleveland
• Columbus North
• Columbus South
• Toledo
• Troy

When it comes time to study for your broker license exam, you may need to brush up on a few topics. If that’s the case, consider checking out a broker exam prep package from Hondros College. They’re one of the only Ohio real estate schools that offer broker exam prep, offer a pass guarantee, and boast a 96% first-time pass rate on the broker license exam.

You’ll be issued your broker license by the Ohio Division of Real Estate & Licensing after you’ve been notified of your results on the license exam. Congratulations! You’ve obtained your broker license and it’s time take your career to the next level.

Ohio Real Estate Broker License FAQs

Got more questions? We have answers! Read on for the most frequently asked questions and add your own question in the comment section below. We’d love to hear from you!

How long does it take to get a real estate broker license in Ohio?

Should I become a real estate broker in Ohio?

Do you have to become a real estate agent before becoming a broker in Ohio?

More Career Resources

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The post How to Get Your Ohio Real Estate Broker License appeared first on The Close.

Later in my career, I worked as a team leader at Keller Williams Realty and as an investor in two Keller Williams franchises. This experience taught me the recruiting skills and processes needed to keep agents productive. Even though I was very successful, the itch to build my own real estate brokerage brand never went away.

So in 2014, I set out on my own to start an independent real estate brokerage from scratch. The long five-year journey of creating a new brand, managing employees, recruiting agents, and building out offices had opened my eyes to the things I wish I had known before starting a real estate brokerage.

In this article, I will share my wisdom of the seven things I wish I knew before starting a real estate brokerage.

1. Your Brokerage Needs a Clear Objective

Before you blow through your savings or you max out your credit cards to open your new real estate brokerage, get clear on why you are choosing to go on this adventure and clearly define what you wish to accomplish.

An unclear objective will make your important decisions more difficult and can leave you without an exit strategy.

Ask yourself questions like, “Do I want to build a brokerage that serves a specific community or that serves multiple areas?” and “What type of agents do I want to work with and why?”

Your answers will provide context for all the other decisions you must make for your brokerage. For instance, if you are starting a real estate brokerage to serve a specific community, then your brand and logo should be specific and reflect the community it serves. However, if your goal is to grow beyond your local community, city, or state, your branding and logo will need to be unique so you can obtain a national trademark prior to expanding.

I have coached brokerages that had the ability to expand into other markets, but because of decisions like this that were made in the early stages of their development, the growth of the brokerage was severely diminished.

Make your decisions with the end result in mind and find a competitive advantage that allows you to differentiate from your competitors.

2. Your Brokerage Needs a Competitive Advantage

A successful startup builds on the success of the past but also brings a competitive advantage. Your real estate brokerage startup should be no different. A competitive advantage is a clear differentiation that separates you from the competition in the customer’s view. This allows your brokerage to stand out and makes your brokerage more memorable.

There are three main types of competitive advantage:

3 Types of Competitive Advantage for Your Brokerage

1. Price

Some brokerages create a competitive advantage either by offering lower commissions to the sellers (Redfin) or by reducing splits and fees to the agent (HomeSmart). These business models operate on slim margins and high volume.

Before you jump on board with a low-fee business model, consider the months or even years you will lose money before you are breaking even. Personally, I would rather provide another competitive advantage and maintain profit margins.

2. Unique Product or Service

Coldwell Banker created a competitive advantage with their RealVitalize program. RealVitalize allows sellers who are low on cash to be able to update their dated home with things like new granite counters and appliances, and pay for it at closing.

Like the RealVitalize program, your competitive advantage doesn’t need to be something nobody else offers. It just needs to be communicated in a way that customers assume that you are the only brokerage in their area offering the unique product or service

3. Specific Niche

The most common way brokerages differentiate themselves from their competition with a competitive niche advantage is by focusing on a specific geography, demographic, or industry.

In the past, real estate brokerages used geography as their specific niche, but today, there are entire brokerages that just focus on first-time buyers, luxury homes, condos, or even military buyers and sellers.

Your brokerage can also have a specific niche of the type of agent it specializes with. This can be agent types like new agents, seasoned agents, luxury agents, and teams.

Having a competitive advantage allows the customers and agents to differentiate your real estate brokerage from all the others. Focusing your marketing and messaging will reduce your overall cost of acquiring customers and agents alike.

Next, we discuss in detail how to attract the right type of agents for your brokerage.

3. A Recruiting Plan Is Essential to Attracting the Right Agents

Your objective and competitive advantage are the first two things you must get clear on before starting your real estate brokerage. The next step is creating a plan to recruit the right type of agents to fulfill your dream.

Begin by using your objective (what you want to achieve) and your competitive advantage (what differentiates you from the competition) to determine the type of agent who will thrive at your brokerage. For example, if you are building a luxury brokerage, then a lot of brand-new agents are very unlikely to produce the results to help your brokerage achieve your objective.

The secret to recruiting is being very clear on what your objective and competitive advantage is and how this can benefit the agents you wish to attract. Once you’ve done that, you need to focus all your recruiting efforts on that specific agent type.

This is done by narrowing the vast pool of agents in your market down by their production and the location they wish to specialize in. Once this is done, you will use well-written scripts to attract the right agents or repel agents who don’t fit your brokerage. You can learn more about recruiting scripts in our article The Ultimate Guide to Recruiting Real Estate Agents (plus scripts and objection handlers).

Next, your presentation must inspire the agents to want to be a part of your dream. Since your brokerage is new, you must sell them on the vision. You will do this by having a clear and concise message about what you are going to achieve and how you are different from the other brokerages.

Lastly, you will need to have outstanding processes and procedures to serve your new recruits and fulfill all the promises you made. Curious about what this entails? No worries … keep reading.

4. You Need to Develop the Necessary Processes & Procedures to Operate a Real Estate Brokerage

As I shared earlier, the fact that you may have the skills to be a successful solo real estate agent by itself doesn’t mean you will be successful at leading and operating a real estate brokerage. The skills and processes are completely different.

To be successful as a salesperson, you must develop your own skills, follow your own processes, and hold yourself accountable. Conversely, to successfully run a real estate brokerage, you must be able to lead agents and employees to consistently follow the processes and procedures that you set out for them. In other words, the skills that made you a great agent might not translate to make you a great broker/owner. More on this later.

This requires you to take the time to think out what processes and procedures are necessary for you to run your brokerage. To help you out, I compiled a complete list of the processes and procedures to run a successful brokerage.

Processes & Procedures to Run a Real Estate Brokerage

Agent Support
	Weekly Communications Plan
	Agent Training Plan
	Team Meeting Plan
	Agent Marketing Support Plan
Broker Supervision
	Contract Compliance Process
	Contract Review Plan
	Industry Changes and Updates Communications Plan
	Broker Question Process
Office Management
	Agent Split/Fee Management
	Commission Disbursement Process
	Agent Billing Process
	Escrow Accounts Management
	Financial Review and Management
	Employee Hiring and HR Management
	Annual Tax Filing Plan
Agent Recruiting
	Agent Recruiting Plan
	Agent Onboarding Plan
	Agent Off-Boarding Plan
Office Management
	Cleaning and Maintenance
	Security
	IT Support

Before you turn in your pink slip at your brokerage, take some additional time to observe how they are managing these processes and procedures. You may not even be aware of some of these because they operate behind the scenes.

Managing Employees

In addition to creating your processes and procedures, you will also need to develop the ability to lead and manage employees to follow the processes to operate your brokerage.

Many agents think that they would be good at managing employees because they are easily likeable. However, being easy to get along with is not a good indicator of being a successful manager and, in many cases, can backfire.

Learning how to hire, train, and manage employees is a monumental feat on its own. Yet, if you wish to build and grow a successful brokerage, you will need to develop this skill. Unfortunately, I have not found a universal simple path to develop this ability.

The best advice I can share (without writing a book here) is to be very clear on the expectations and execution of the tasks that are required of the position from the beginning. This will make it easier to hold them accountable in the future. Yet, to accomplish this, you must have your processes and procedures written out in advance.

Each of these important decisions build on the next. This is why I am suggesting you take the time now—before your brokerage is open—to get clear on your objective, find a competitive advantage, determine the type of agents you want to serve, and build your processes and procedures. All this before deciding on what software and office location is right for your brokerage.

5. Software Can Make or Break Your Brokerage

The secret to building a brokerage that will retain agents for years to come is consistency. This is because consistency builds trust, and trust leads to agent retention and agent referrals. The key to consistency is investing in real estate brokerage software.

I am well aware that there are successful brokerages that operate completely off of Excel spreadsheets and the sweat of their employees. The risk with this approach is that humans are just that: human. That means they make mistakes. Not to mention the massive problems you’ll have when you lose a key employee who takes the knowledge of your processes with them when they leave.

You don’t want to put yourself or your brokerage at risk by relying on ad hoc and insecure systems and processes. Today, there are many software systems that will protect your brokerage from losing your processes when a key employee leaves and can provide you with clear reporting to insure that the procedures are being followed by your agents and employees. Cutting-edge software not only saves you time, it can also attract tech-savvy agents.

Below is a list of procedures that are imperative in running a successful real estate brokerage and the software that makes these processes secure and easier to manage.

The Software Options to Successfully Operate a Real Estate Brokerage

Procedure	Objective	Optional Software	Cost
Agent Marketing	Create custom listing fliers, monthly mailers, and newsletters
		Microsoft Publisher	$150/yr
		BannerSeason	$45/mo
		ProspectPLUS!	As needed
Brokerage Management	Track agent transactions, income projections, and manage agent splits and fees
		Lonewolf	$350+/mo
		Total Brokerage	$219+/mo
Contract Compliance and Management	Manage the broker file, broker review, and file storage
		Dotloop	Call for pricing
		SkySlope	$350+/mo
Recruiting Software	Pull market share reports, agent production reports, and contact information
		BrokerMetrics	$199+/mo
		Brokerkit	Call for pricing
Financial Management	Basic financial management and tax preparation
		QuickBooks	$60/mo
Emails	Brokerage branded email accounts for agents
		Workspace by Google	$6/user
Websites	Brokerage website and individual websites for agents
		Placester	$64+/mo
		Real Geeks	Call for pricing
Agent CRM	Contact relationship management software
		BoomTown	$750+/mo
		Zurple	$399+/mo
		LionDesk	$70/user
Showing Service	Manage showings and feedback
		ShowingTime	$45+/mo
Payroll Service	Manage payroll, employee liability insurance, and tax withholding
		Oasis Advantage	$75-$150/mo
		QuickBooks Payroll	$22/mo

Some of the software providers offer more than one feature than the category I have placed them in. For example, Propertybase provides websites, customer relationship management (CRM), and lead generation software in an all-in-one solution. For a deeper look at all-in-one CRMs, see our recent article: The Best Real Estate CRM for 2022.

Also, in some of these categories (like brokerage websites), there are endless options. My goal here is to provide you with a general understanding of what software is available. Therefore, I suggest doing your own research to determine which software providers are right for your situation.

The decisions you have made thus far are all extremely important, but none of them are as expensive or put you at risk more than selecting the right office and location for your real estate brokerage. Let’s take a deeper look.

6. How to Select the Right Office for Your Brokerage

I can’t say this enough: Get your office right from the beginning. Your office is often your largest expense and your greatest risk. Before getting tied into a long-term lease, you must first take into consideration your overall objective with your brokerage, your competitive advantage, and the type of agents you ultimately wish to recruit. Make sure that the office and the location is in line with all of your goals. This way, you have a greater chance of getting it right the first time.

Will Agents Return to Offices?

This is the $10 million dollar question. Will agents return to the office after the pandemic is over? The concern is if agents get used to working from home, then do you even need to plan and budget for an office when opening your real estate brokerage?

My guess is even though most agents will stay mobile, many will still want the option to work from an office again. For some of us, it is difficult to motivate ourselves from home and for others, their home may not be conducive for doing business. But this may not be the only reason you want an office.

Your Office Is a Statement to Your Customers & Agents

Your office can be more than just a place for team meetings—it can be a statement to customers and agents of your commitment to the community and your brand. For instance, if you are building a boutique brokerage that is specific to a neighborhood, you want a visible office to create brand awareness in the community you serve.

On the other hand, some seasoned agents are attracted to semi-private offices or at least the idea of having them available. If your goal is to recruit professional, seasoned agents, then an office building would be the suitable solution. A secret you may not know is instead of breaking the budget on A+ main floor office space, consider the third floor or fourth floor. The higher floors are usually 15% to 25% less than the main floor.

If you’re building a brokerage that teaches newer agents, consider an office space with few private offices and a larger training room that can be closed off to not bother the other agents while you are teaching. When not in use, the training room can be used as agent drop-in space.

Are Co-working Spaces a Viable Solution?

I have had brokerages with beautiful executive office space and I have run my brokerage from a co-working space. The low cost and short-term lease commitments can make co-working space a great place to launch your brokerage. The long-term challenge with co-working space is coordinating things like team meetings, lead generation, and educational events with the other members of the co-working space.

The other challenge is that as you grow, the cost can rise exponentially. Room for two to three agents may only cost as little as $400 a month, but when you grow to 15 agents, the cost can exceed the cost of having your own private office space. As with short-term rentals like Airbnb, you will pay more for the flexibility that a co-working space offers.

If you are considering co-working space, beware of additional costs like parking, coffee and snacks, conference room rental, and so forth.

7. How to Select the Best Location for Your Brokerage

One of the most important things you must consider when selecting the office for your new brokerage is location. Location is more than just deciding what area of town you want to be in. The location can determine if your agents are going to sell mostly condos in the city or mini-mansions in the suburbs.

Parking and accessibility is important if you have customers or agents who drop in to the office for short periods of time. Many downtown locations are desirable, but the lack of parking and accessibility might make them unattractive to some agents.

If you are in a tourist town where visitors may be interested in retiring or buying a second home, you may want to consider a small house or retail location on the main strip that will attract curious tourists to come in. The office location and style must be attractive and inviting so customers feel comfortable enough to stop in.

Bottom Line

My agenda is not for you to start your own brokerage. It is, however, to provide you the information and a true picture of the obstacles that come with starting your own brokerage so you can make the best educated decision based on your individual goals and situation. If you’re up for the challenge, read on to learn How to Start a Real Estate Brokerage (Without Going Broke).

If you are thinking that you don’t have the time or vision to create your own brokerage, you may want to consider a franchise. Franchisors have already figured out the vision and the plan for their franchisees. Therefore, if you have the drive to build a brokerage and don’t have a plan, then a franchise may be the perfect solution for you.

Simply put, opening your own brokerage is not as easy as you may think. But if you use this information to prepare yourself to make the most important decisions prior to opening your brokerage, you will have a higher chance of achieving the success you desire.

Over to You

Do you have a suggestion for opening a brokerage that we overlooked? Let us know in the comments or join us on our Facebook Mastermind Group here.

The post 7 Things I Wish I Knew Before Starting My Real Estate Brokerage appeared first on The Close.