Do you work in the real estate market and want to know how to open a real estate company? Of course, being an independent broker has its advantages, but if you want to increase your area of expertise, expanding your business idea can be the right way.
In this case, care must be taken to ensure that the entire process is carried out properly. Thus, you avoid not only many headaches, but also possible fines and waste of resources.
Interested in opening a real estate company? If you are in doubt about the subject and want to understand what needs to be done to set up your venture, check out these 9 steps.
How to Open a Real Estate?
Here are a series of tips that can be useful when opening your own business to buy, sell and rent real estate.
1. Plan your Area of Expertise
The first step in setting up a real estate agency includes the advanced planning of each stage of the business. This means that it is time to define how the real estate company will operate and what services it intends to offer. There are luxury real estate agents and others focused on popular housing, with lower prices.
However, new-born real estate companies usually choose their areas of activity based on criteria of geographic area, type of client, type of property, and value of assets. While some specialize in buying and selling, others are more rental-oriented.
There are also those that seek to offer a wide range of services. What do you want to do? Start by defining how your real estate company will be, what it will offer and how it will position itself in the market.
2. Think about the Necessary Infrastructure
Now, you must think about the structure of the deal. As much as your real estate does not need to have a very large physical space, a pleasant environment ends up encouraging employees and potential customers to be closer to the company.
Apart from the material side, the process structure must be differentiated. This means, for example, using technology to help close contracts through a good real estate system, such as Sky marketing, which helps the business to develop faster and in a more organized way.
Not least, employee training and service standardization should pay special attention to when setting up a real estate agency. So also organize a roadmap of sales and processes that your future employees will need to know to work at your company.
3. Be Aware of Legal Requirements
With all that in mind, you can’t forget about legal requirements. Just like any business, in any area, the real estate company needs to go through a complete (and relatively bureaucratic) process of the official opening.
The preparation and registration of the Articles of Association are among the first steps, followed by:
- registration with the Board of Trade;
- obtaining a CNPJ;
- registry at the registry office;
- regularization at the city hall and the Treasury Department;
- registration with the INSS;
- inspection of the Fire Department;
- tax framework
In addition, a real estate agency also needs specific registration with Creci, the council responsible for regulating the activity of brokers and real estate agents.
4. Select a Good Team
A team of well-trained professionals can make all the difference when starting your real estate business. After all, they are the ones who will make the company work. It is worth remembering that these professionals also need Creci accreditation and, of course, must fit the profile you are looking for in the company.
If you want a tip on how to open a large real estate, consider hiring professionals for the other requirements of the area, such as a lawyer and an accountant. If there is no such possibility, try to look for specialized internal collaborators to handle these functions or even outsourced consultants and agencies.
5. Plan the Finances to Open a Real Estate Agency
So that the dream of your own business does not turn into a nightmare, it is extremely important to keep an eye on what happens in the financial environment. Make a budget plan that involves the values of rents, investment in physical structure, hiring employees, expenses with legal requirements, and the expenses that will be made with disclosure and advertising.
A tip to follow, before starting the company, is to opt for a real estate control system in which it is possible to integrate all the financial activities of your business, such as administrative fees and lease contracts, avoid default and even monitor monthly growth metrics. the month.
6. Count on the Help of Technology
In the age of digital transformation, the use of technology to meet the company’s daily needs and demands is no longer considered a whim, but a necessity for survival in the midst of an increasingly competitive market.
Working digitally can make your real estate company earn more money and recognition. Invest in planning tools and automated control methods: ERP systems, CRM, website and other resources that allow you to manage, optimize, and visualize the generation of results.
With inGaia Imob, for example, it is possible to create a real estate website, optimize process management and integrate a series of tasks that can seem complicated when someone has just opened a real estate company. In this way, the company can stay online, organize the routine and stay tuned with what customers are looking for.
7. Develop Dissemination Strategies
Did you get here with everything properly established, and ready to sell? But, by any chance, does the market know that your real estate company exists and is ready to close a deal? Probably not yet. For this, it is necessary to invest in advertising and boosting social networks, among other real estate marketing strategies.
Market trend, digital marketing serves to increase business success. In this case, having a good website with attractive photos of the properties and betting on the production of relevant content, and having a post plan on the main social networks can already increase the relationship with future clients.
In addition, it is worth mentioning the importance of mobile in real estate marketing. In Pakistan alone, there are more than 220 million cell phones for a population of 210 million people. That is, it is very likely that the public will use cell phones to search for properties. So, it is essential to have a responsive website — a version adapted to mobile platforms.
Digital real estate marketing has allowed new techniques and other approaches that have revolutionized the real estate market and the way brokers communicate with clients. So why not invest in this trend? Think big, focus, and soon you will see the results of your digital marketing actions.
8. Choose your Partners Well
Having a partnership can be a great decision for those who do not feel fully able to open a real estate company alone. In this way, both can contribute with their potential for the benefit of the company.
Another reason why many entrepreneurs opt for partnership finances, especially if the goal is to open a local store with a facade, where the costs are much higher.
However, it is important that this choice is very well thought out. Although it is not mandatory that your partner is a realtor, it is interesting that he at least has knowledge about the real estate market, as a lawyer specializing in the sector.
9. Conduct a Market Analysis
How to open a real estate company without first doing a good market analysis and identifying the public in the region where the company will be set up, isn’t it? This is essential in order to determine the growth potential, in addition to reducing the risks relevant to opening the business.
It is very important to study the consumption behavior of the regional market, that is, to understand how people who live or want to live are like where most of the properties that will be sold are concentrated. It is also necessary to analyze the competition, the growth planning of the neighborhood or city in question, and the relationship between the supply of available properties and the demand of customers looking for housing to buy or rent.
Based on this information, the future manager can study the market data and plan to work on competitive differentials and become a strong business in the face of competition. Given the context, a great recommendation is to start a small business to minimize initial costs and have easier management, if the adopted model allows, of course.
Is it Worth Opening a Real Estate Company?
Finally, it is worth noting that, before making the decision to open a real estate company, it is necessary to evaluate all the risks and potential of this type of business. After all, there is no magic formula or secret to success.
Every company is susceptible to having a good or bad performance. However, if the best management practices are adopted and the economic scenario is studied, the chances of obtaining results beyond expectations are great. After all, the real estate market is one of the most stable there is.
In this content on how to open a real estate agency, we show the best practices and strategies that should be adopted in your business planning. Studying the market, looking for good real estate brokerage professionals and adhering to the use of technology are just some of the necessary measures.