Dear Brokers
So, I've got what I consider a friend and colleague who is about to get her brokers license. We've talked about it before and we're still talking about opening a brokers office together. She'll bring the real estate experience and I'll bring the starting/operating capital.
Obviously, there will be partnership contracts blah blah blah. That's a no brainer.
What I'm interested in is knowing from current and active brokers who actually have office space and agents working under their license some advice in knowing what you would have done differently when you first opened shop. Things you did that you were glad you did etc....
She currently is looking for office space and we've discussed what we would be looking for in an office. I know there will be quite a bit of start up capital needed which is fine, but, I would like to know what it took you in capital to get started. Did you start with a home office until you gained some business or did you start with a brick and mortar office?
Commercial leasing is super cheap, especially in some really great locations. We're finding great rates with some things like a year free with a 5 year lease etc...
So, gimme your thoughts. I'm not looking for whether I should or should not do it, consult your attorney type answers. I already know that. What I'm looking for is some helpful and insightful advice from your experience(s).