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Dream of bigger things? Of being your own boss, having your own brand and leading your own team?
We’re all about big dreams and noble ambitions at the Agents’Agency, and the reality is there’s a fair bit involved with launching your own real estate agency and bringing that dream to fruition.
But it’s also not rocket science. So let’s break it down with the top 10 essentials for starting your own agency.
A plan
Whether you’re just starting out or an established real estate brand, every agency should be underpinned by a strong business plan.
This plan must also be regularly updated and revised including a clear definition of your market and your point of difference along with the look, feel, marketing strategy, and financial projections for your operation.
The legals
We work in an environment with important legal obligations that we must meet for ourselves and our clients.
We must be licensed, professional and ethical, abiding by consumer law while staying abreast of best practice and changing legislation.
Branding and marketing
Branding and marketing help your agency define its position and stand out from the crowd. They are the things that say: ‘Here I am’ and ‘Here’s why you should choose to work with me’.
Defining this look and feel is a critical component of starting any new business, and it’s important to get it right from the outset.
Financial management
Most agents are great at selling property, but what about the financial and administrative side of running a business?
How’s your budgeting, cash flow management and knowledge of your tax obligations? Because these are all things you need to be abreast of if you’re running your own business and brand.
A team
As your business grows and you enjoy the success you deserve, chances are you will need to assemble a team around you, including support personnel and other experienced agents.
It’s important to know when the time is right to hire and also the type of skills that need to be added to your team.
Technology and tools
This is an industry with an abundance of technology on offer, allowing us to streamline operations, and improve our client’s experience.
But here’s the thing, new, bright shiny objects pop up every single day. The real skill lies in knowing exactly what tech and tools you need, without getting distracted by the latest shiny thing.
A network
Building a real estate business requires networking and an ability to forge great working relationships with your community, other agents, and industry partners.
It takes time, it takes effort, but its key to becoming a trusted advisor in your marketplace.
Customer service
Any great business is built on its customers and real estate’s no different. Our job is to put the needs of our customers first and to act in their interests.
But first we need to establish and manage that relationship, nurturing each potential buyer and seller with insight, information and expertise.
Risk management
Like any industry, real estate has risks, including potential legal issues, financial risks, reputational risks and more.
That’s in addition to the general risks that come with running your own business. Identifying and managing those risks is imperative.
It’s also important to have a network around you who can help you see those risks and offer the insight and experience that allows you to mitigate them.
Continuous learning
Our clients need us to be at the top of our game. And to be among the best of the best, we need to be continually learning and engaging in professional development.
Not only does constant upskilling allow us to serve our clients better, it also ensures we maintain a competitive edge.
All that and more
The Agents’Agency has helped hundreds of agents take the leap and start their own business.
We know what it takes to go from business dream to agency reality, and we’re on hand to provide support across the 10 areas listed above and so much more.
From business planning and the legal stuff, to financial management, and technology, we are on hand to guide and mentor you every step of the way, with tools, training, and a team that is devoted to seeing agents in business for themselves but never by themselves.
Want to know more?
For more information on how the Agents’Agency can help you take your career to the next level, please visit https://www.agentsagency.com.au/ or email
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