How to Start a Real Estate Startup?

Starting a real estate business is quite different from starting a career as an employee. It requires more than a professional degree. What it takes to start your real estate startup is what we will discuss today.

But first, let’s understand “what is a real estate business?”

A real estate business is primarily related to buying, selling, managing, or investing in land and buildings. But it isn’t limited to these services. There are more you could explore your way. 

Now let’s dive deep into understanding ways to start your real estate business.

Starting Real Estate Startup

Is Real Estate Business Good for You?

Don’t just land because you hear that real estate is a profitable business. Instead, enter with full strength.

Asking yourself if real estate is a good business for you is pretty important. After all, you don’t want to quit the business soon after realizing that it wasn’t the business you always wanted to do.

Ask yourself if you’re good at communicating with random people. Much of this work requires you to communicate with buyers, sellers, other realtors, and local authorities deal in the same domain.

Everyone knows that the real estate business is highly profitable. But very few know that it’s also an area expecting you to be very patient as people don’t buy or sell homes on a daily basis and that there are already thousands of professionals working in the field for years.

Once you’re confident that you could take on the challenging tasks involved in the business, only then move on with our following tips.

Increase Your Exposure

In the first step, you have answered some basic questions required to understand if real estate is right for you. In this step, you must expand your exposure.

While we are lucky to live in a tech-savvy era, much of the information could be accessed on the internet. So if you’re to start your real estate business in Milton, Canada, you must learn the related local laws, read insights from market experts, observe when people are buying or selling their properties, what buyers want, and so on.

Then comes networking. While it could be hard to network with those already in the business, it’s not impossible and is still very effective.

Talk and meet professional realtors near you. They could give you some profound insights into the real estate market.

Then, also consider having a mentor with years of experience, knowledge, and promising results.

Choosing Your Expertise

Real estate is such a big world that it would be crucial for anyone (or organization) to cover all of it. Selling, buying, renting, building, managing, investing all are parts of the real estate business. Then there are different property types, including houses, commercial properties, and lands.

When you’re just starting, it’s suggested that you start small (with a big target) so you could focus well and do better.

For instance, lately, bungalows in Canada have been gaining popularity. You could catch up with this market. You could start with understanding different types of bungalows, their structure, why do people buy them, where you would find listings for bungalows for sale Milton, and so on. 

Get every piece of information, so if you get to a client, you would be able to answer all his/her queries without mumbling.

Write a Business Plan

It isn’t mandatory, but it helps a lot.

Your business plan should incorporate your long-term as well as short-term goals. Highlight your business’s financial and operational goals, your company’s objective, and then write ideas showing how you’ll achieve your goals and objectives. But remember, don’t overdo your business plans, else you could miss great opportunities.

Studies show that professionals with a good business plan perform 2.5 times better than those without a plan. 

Here’s an article to writing you your business plan

Hire an Assistant

Again, this isn’t mandatory but is worth it.

Hiring an assistant will loosen you from many smaller tasks that you might miss during setting up your real estate business and even after it’s established. For instance, your assistant could help in marketing, sending emails, recording expenses, and gathering useful information.

If you can’t afford a full-time assistant in the early stages, you could always go for a part-time assistant. Even better if you could look for a virtual assistant.

Upwork is one such marketplace where you could find the right candidate on your terms.

Get a License

License is mandatory. You can’t skip it.

Before you start your business, you need to have a real estate license. A real estate license allows you to sell or buy properties for your clients. Every province has its board offering licenses for real estate professionals.

Since we talked of Milton, located in Ontario, Canada, you would be required to register with Humber College to complete a relevant course and get a license.

Create a Strong Brand Identity

People often remember a business by its brand image, not by its name. Having a strong brand identity ensures brand visibility and hence more business.

When designing your brand image, you may want to answer these questions:

• What’s your area of expertise?

• Who is your target audience?

• What do your clients get from your services?

• What are your brand values?

Work on a unique brand image so that everyone could somewhat distinguish between you and others.

When you have your brand image, make sure to add it everywhere, including your business cards, brochures, websites, and social media.

Build an Online Presence

Being a writer myself, I highly recommend real estate startups to build their online presence right from day one.

Everyone is using the internet. Today people search on Google first and then would go offline. And if they found what they were looking for on the internet, why would they hunt anywhere else?

By online presence, I mean having a website, social media account, and having a blog.

According to recent developments, Google highly recommends having a website that loads within seconds and has a simple design with easy navigation and content for humans.

According to a study, Facebook is one of the most visited social media sites with over 2.7 billion active users. It means a large chunk of your targeted audience is already using Facebook. Get to this market by posting content, interacting with comments, and sharing helpful blogs.

Blogs – my most favorite part – is a marketing technique. And without marketing, you cannot grow. While I can write pages on how essential blogs are, I’ll just say that you can’t ignore blogs. Write frequently for your target audience to give them something valuable. And by frequently, I don’t mean to write daily. Once a week is enough, provided the content is unique and is for your reader, not the search engines.

Grow Your Real Estate Business

Most of the tips outlined here are recurring. You’ll have to keep recalling them throughout your way, even you have become a mentor yourself. It’s time for you to dive in and start your real estate business this year.

Not to mention, the real estate business is enjoying its growth since the prices are regularly rising. Single-family homes, including bungalows, are in high demand. If you enter now, you could catch up with some top-performing realtors in the town.

Author Bio

Jessica Watson is a staff member and the lead blogger at BungalowFinder.ca. She has been part of the team for quite some time, is expanding her domain, and intends to become a professional real estate agent.