Establishing Your Business

Establishing Your Business

So you’ve struck out on your own: You’re following your dreams and controlling your destiny by starting your own brokerage. Now it’s time to set up healthy systems and routines, develop consistent and effective branding, and find strategies for generating company leads. You will also find resources for staying up-to-date on the legalities of running a brokerage, tips for hiring and recruiting, and ways to keep your finance in check.  Learn how to develop office policies that speak to the culture you’re building, find out how other brokers overcame some of their toughest problems while starting a new business, and get advice on everything from advertising on social media to establishing a wellness program.

Common brokerage models as discussed in the 2016 NAR member profile and 2015 profile of real estate firms.

© 2016 National Association of REALTORS®

References

We've already done the research for you.

Before you search elsewhere, take advantage of the research we've already done for you. Formerly known as Field Guides, References tabs contain links to external articles, titles from the NAR Library eBooks collection, websites, statistics, and other material to provide a comprehensive overview of perspectives on each topic. EBSCO articles (E) are available only to NAR members and require a password.


Striking Out on Your Own

Starting a brokerage: what to do, (REALTOR® Magazine, Mar. 2017).

Starting a brokerage: why do it?, (REALTOR® Magazine, Dec. 2016).

5 tips on starting your own real estate agency, (Realty Times, Mar. 9, 2015).

Can you handle it: Manage your own brokerage?, (Chicago Agent, July 30, 2012).

How to launch a successful real estate brokerage in today’s market, (KW Blog, Oct. 8, 2012).

Real Estate Brokerage Office Management, (The Balance, 2012).

Creating a Business Plan and Choosing a Brokerage Model

Starting out in real estate: franchise, independent firm or solo?, (Intuit Quickbooks, n.d.).

Other ways of pricing—alternative real estate business models, (The Balance, Sept. 21, 2016).

A spectrum of service models is changing the way we sell homes, (Washington Post, Mar. 6, 2015).

Boutique—Today’s real estate brokerage business model, (Realty Times, Sept. 20, 2013).

The evolving brokerage model, (REALTOR® Magazine, Nov. 2012).

From Realtor to Broker: determining the model, (AGBeat, Mar. 5, 2012).

Creating your business plan blueprint for 2013 success (RISMedia, 2012)

16 steps to your best business plan (REALTOR® Magazine, Dec. 2011)

Create your business plan (Small Business Administration, n.d.)

Business plan preparation, (Deming Center for Entrepreneurship, Leeds School of Business, University of Colorado, n.d.).

Useful Websites

U.S. Small Business Administration — This website should be the first stop for anyone wanting to start a business. Topics covered include startup basics, writing a business plan, financing, marketing, employment, and tax topics. This site also has special areas for women business owners, veterans, minorities, Native Americans and young entrepreneurs. You can also find a local SBA office for further assistance.

SCORE Association — As "Counselors to America's Small Business," SCORE provides counseling for would-be entrepreneurs through email and confidential one-to-one meetings. 389 chapter offices provide this free service. SCORE's website offers free e-newsletters, online articles, quizzes, tips and a business toolbox.

Entrepreneur Magazine — From choosing a business structure to naming your business, this website highlights the nitty-gritty basics of business star-ups. How-to guides, online newsletters and a resource center of articles provide helpful information for your start-up.

Inc.com — Inc.'s website provides information on starting, growing, and leading your business.

Books, eBooks & Other Resources

eBooks.realtor.org

The following eBooks and digital audiobooks are available to NAR members:

The Accidental Startup (Kindle, Adobe eReader)

Business Plans Kit for Dummies (Kindle, OverDrive Read, EPUB eBook, PDF eBook)

Business plans that work: a guide for small business (Adobe eReader)

Legal guide for starting and running a small business (Adobe eReader)

The E-myth real estate brokerage (OverDrive Listen, OverDrive MP3 Audiobook)

The Real Estate Entreupreneur: Everything You Need to Know to Grow Your Own Brokerage (Adobe eReader)

The small business startup kit (Adobe eReader)

Start-Up! A beginner's guide to planning a 21st century business (Adobe eReader)

Books, Videos, Research Reports & More

The resources below are available for loan through Information Services. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Information Services at 800-874-6500 for assistance.

Broker to Broker: Management Lessons, (Hoboken, NJ: Wiley , 2006). HF 5500 F87b

Real estate brokerage: a management guide, (Chicago: Dearborn, 2004). HF 1375 C99 Ed. 6

Real estate brokerage essentials: managing legal and business issues, (Chicago: National Association of REALTORS®, 2006). HD 1386 N21


Have an idea for a real estate topic? Send us your suggestions.

The inclusion of links on this page does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked in this page complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.

Advertisement

Young Professionals Network

YPN helps young real estate practitioners become more business savvy through networking events, communications, and sharing tips and tricks.

Tax Reform

NAR seeks to assure that tax reforms support the goals of homeownership and freedom to buy, maintain and sell real estate.