10 Steps To Starting Your Own Real Estate Brokerage

If someone has to convince you to start it's probably not for you

1. Getting?the company started (in this order)

• Decide on Company name (don't over think it)
• Start an LLC - visit the Virginia SCC to create your new company LLC ($100)
• EIN - visit irs.gov get a new EIN for the new LLC (free)
• Operating Agreement - write it up and get it notarized
• Physical Business Address (recommend Regus or co-working space with a desk and a door that locks not just a Virtual Office mail delivery $120/mo)
• Business Bank Account - 2 checking accounts, 1 savings (operating, escrow and saving)
• Business Email Address - needs to be a gsuite?(not a free gmail.com address)
• Business Phone: (not your cell)
• domain name - visit godaddy.com and buy a domain name (your company name) $12

2. Liability Insurance (E&O). I recommend www.biberk.com??($392/yr)

3. DPOR (Department of Professional Occupational Regulation)

• Download Firm Brokerage application $270
• Download Principal Broker app $85
• Download credit card auth form from dpor

4. Association Local Board New Firm Application?

5.?Bright MLS New Firm Application?

YOU ARE OFFICIALLY ACTIVE AS YOUR OWN BROKERAGE

6.? How Your Client's Perceive Your New Company

• Write Your new Company mission
• Write the principals your new company stands by
• Write down your new company expertise / specialties
• Write down what geographic area your new company services
• new Company Signs, Colors, Logo
• New Business Card (I recommend ditching old cards and just use DOT.CARD)
• Search google to see where you pop up and change your social media sites with new company info

7.? Website with IDX.? I recommend (ihomefinder) IDX into any site. $600/yr or pay monthly

8. Internal Brokerage Requirements

• Brokerage policy Manual (ask me for a template I will send it to you)
• Cloud Storage (recommend dropbox.com)
• Bookkeeping & paying yourself & others (I recommend?Quickbooks)
• Create needed company specific forms simply Google Docs: Wire Fraud, commission Disbursement form, Referral form, W9, Letterhead, affiliated business

YOU ARE READY TO ACCEPT NEW AGENTS INTO THE BROKERAGE

9. Get setup to receive leads?

• Apply to get leads from credit union referrals
• Apply for brokerage NAID # so you can submit bids on hudhomestore
• Get registered on sam.gov to be one of the few offices/brokers who gets government contracts for requests for real estate services
• Fill out application to become a Certified Woman Owned Small Business

10. Get More Leads

• create an account on google my business
• Create an account on Yelp for Business
• Sign up for Google Services and get google screened
• Reach out to people and then pick up your phone

There is so much more, but for now, this is the basics

~cheers, Cheryl

SPANGLER REAL ESTATE (O) 540-736-3000 (F) 703-666-9771 (C) 703-216-1491 [email protected]

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