7 min read · September 1, 2022
Out of the two million real estate agents in the United States, how many of them are in charge of their own brokerage? It’s time for you to start working for yourself and join the ranks of other solo top-notch real estate agents. Most agents in Texas think they have to become a broker in order to own or start their own brokerage. While that is what most brokers would have you believe, it’s simply not true. You can be your own boss and start a real estate business in Texas by owning a brokerage.
You might be worried about the success of your real estate brokerage, but that’s not a reason to quit. If you follow our guide on how to start a real estate business, you’ll be off to a great start.
A successful business always starts with good planning. When you’re used to following the rules and procedures of a boss, it can be difficult to come up with your own. Think about the freedom you can attain by being the owner of your brokerage! Now is the time to get creative, throw out the old playbook and write your own rules! If you need guidance with some of the TREC compliance aspects of your new brokerage, you may want to start by having a knowledgeable broker sponsor that provides you with all the tools a new brokerage should have in place.
Before you begin, you have to consider your daily goals. Having your own business can make it seem like the possibilities are endless, but it all comes down to how well you take advantage of your own skill set.
Start by asking yourself a series of questions like: “What are your ideal hours?” and “How much money do you want to make each day?” These questions can guide you toward how much work you’ll have to do daily in order to meet your goals. Learn lessons from other entrepreneurs‘ successes and failures.
Also, begin to think about hiring agents and other ways you can grow your real estate brokerage.
Your Texas real estate business needs a way to differentiate itself from the numerous realtors in your area. It needs a brand and a personality–this is when you’ll need to use your creativity. Figure out what your business will do better than anyone else, and that’s how you’ll stand out.
You should also start to consider who will be accomplishing what in your business. Consider whether you’ll need to hire real estate agents or an administrative assistant.
The right LLC brokerage will have the right LLC broker sponsor behind it. You want to make sure that the broker sponsor you choose to partner with is available when you need them and provides you with everything your business needs for its success in the beginning.
Even if you have confidence in your idea, it might not actually work. Market research can make it easier to find the right niche and can help you learn how to shine in your area.
How will anyone find out about your business without marketing? Simply waiting for referrals from friends and family isn’t enough.
You need clear strategies that will make your real estate business well-known and noteworthy. Knowing how to get started in real estate starts with marketing. The right broker sponsor can do wonders on this topic. Choosing the right broker sponsor that provides access to the latest real estate marketing technology and techniques can make or break your business. Make sure the sponsor you choose is committed to helping you succeed in marketing your real estate business.
Plan your marketing budget based on the area where you want to reach potential clients. For example, for targeting the whole Houston TX real estate market, you will need to allocate more funds than a smaller town.
Sometimes, it’s best to choose yourself as your brand. That way, your real estate business seems more genuine and people-friendly. Real estate is more relationship-based than anything–if people like you and what your brand stands for, they’ll be more likely to do business with you. When you are an agent working for someone else’s brokerage, yourself is all you have. Now that you are starting your own real estate brokerage, you get the freedom to create a brand that is bigger than just you. Choose wisely because once you start down the path of brand creation, it’s hard to reverse course.
Put yourself out there. Start a real estate business website and social media account so prospective clients can get to know you. Posting educational real estate videos onto social media can establish yourself as an authority, and also allows potential clients to interact with you.
Having a clean website is just as important as being prevalent on social media. When the majority of buyers nowadays research realtors online, a website can make or break your business.
Although you might have to spend some money on building up the SEO and paid marketing aspects of your website, it’s worth it. Your website should be search engine optimization-based, and should also allow you to incorporate real estate IDX listings.
Reaching out to former clients and to your sphere of influence is an effective strategy when it’s done consistently. Whether you choose to send out postcards, phone calls, or emails, it should all be done according to a consistent schedule.
After you’ve figured out how to run a real estate business and it’s finally up and running, you need to keep it that way. Keeping up with your goals will get new clients flowing in.
You have a lead that contacted you, but your day is especially busy. What should you do? The answer is to always follow-up with your leads.
Waiting around for leads to buy from you won’t get you anywhere. Emailing or calling leads back plays an important role in whether or not a lead will choose to buy from you.
As an experiment, try signing up your competition’s real estate websites, and give them your phone number. Do they call you back? If they don’t, it’s time to be the reliable real estate business that actually calls prospective clients back.
If you find yourself working all day, you’re doing real estate wrong. Your business should always incorporate downtime.
When you’re always running around, it might seem impossible to find time to breathe. With the proper techniques, you’ll be able to do what you really love. That’s where real estate automation technology comes in.
A typical real estate broker markets a property to the clients in their network that seem like the right fit. They also consider where the property is, if the clients have any buying experience, and their current relationship with the client.
Real estate agents who stick with this method end up missing out on dozens of similar clients who aren’t in their network. Utilizing automation in marketing can help you reach out to other clients who are just as qualified.
In addition, automation software also allows brokers to avoid the time-consuming and tedious task of analyzing property data. This frees up more time for you to focus on your clients, or can even allow for some well-deserved relaxation time.
Keep 100% of your commission and build your own brand. Owning your own brokerage in Texas through LLC sponsorship has never been easier. At Pinnacle Realty Advisors, we provide all the tools your new business needs to be set up for success. From the corporate filings to registering your new brokerage with TREC, we handle everything for you. The best part is, you don’t have to even be a licensed broker! Brand new agents can own their own brokerage with our easy LLC Broker Sponsorship in Texas. Give us a call or fill out our form today to learn more.