Start-up Real Estate Company
I have been gathering ideas and working out marketing strategies for the past year or so and I am ready to step out of the real estate office I currently work under and begin my own.
The area certainly isn't lacking in the number of current real estate companies nor in the number of active realtors but there are some areas and targets that are NOT being approached by anyone. There is a giant gap that can be filled if someone would just step back with an overall point of view and look at what is going on. Everyone is trying to sell the same thing, and only a handful make any money at this gig.
So, any of you own your own real estate company and, if so, care to share the experience you found? I am not a broker so I will have to hire one (already know who to call for that) until I can set aside the time to go to class and try to pass the broker's test.
I have a few people who "have said" they would like to become salespersons under this new company based on the fee structure and marketing I will offer. A couple are already working for other companies but the others are not yet licensed or inactive. I will not steal sheep, at all. The two are simply good friends who like the idea and see a way to make more money.
I plan to target to a wide audience rather than the narrowed focus each company has here. I plan to offer varying fee packages to the salespersons allowing each individual to pick the one that best matches their expected activity level. I have the marketing concept thought out but have not produced any rough draft materials. I have not secured any office space in a high traffic location but I do have a couple of warehouses that can be used if it comes down to it. But the are some prospective locations currently being offered for sale that I have looked at.
I can dream and scheme and plan but it don't mean a thing without some action. So I would like to hear about some of your entrepreneurial experiences. What would do different if you had to start another real estate company from the ground up?