- How to set up a real estate company?
- Is it profitable to set up a real estate company?
- What is needed?
- How to start a real estate business?
- Is a limited or limited company better?
- Buy or rent the premises?
- How much does it cost to set up a real estate company?
- Is it better to do a custom real estate web design or set up a template?
These are some of the great concerns of those who are starting in this profession.
Today we answer these and other questions related to the process of how to create a real estate agency, as well as how to position it on the internet and make it stand out in a highly competitive environment.
Steps to follow for setting up a Real Estate Company
The business plans
Any real estate agency, no matter how small, should know how a real estate agency works. Without serious market research and a clear idea of how much, and where we are going to invest, starting a business is like playing the lottery. If you want to know if a real estate is profitable, you must first know how they work.
The real estate business plan can be as complex as you want. It can be written in two pages or two hundred, but the following elements should never be missing:
Commissions, participation, advertising for real estate, this section of the business plan answers the question: where does the company’s income come from? Defining this point and having it clear from the beginning is one of the pillars of the plan. Also, it will help you know how a real estate company works and where the workflows come from.
Who is your competition? What market share does each company cover? What is the profile of the most profitable consumer?
These are some of the questions that you should answer at this stage of the business plan. If you do not have the means to hire an agency to carry out this study for you, you can walk the streets of your area of influence and consult consumer studies on the population you want to target. We advise you not to skip any of these steps to create a real estate agency. It would not be the first time that for not studying the market well, a business fails in the first years of life. Many entrepreneurs focus more on real estate names than on serious market research. The former is almost accessory, although important, while the latter is vital for survival.
Find information about franchises
If all this process gives you some vertigo, you can also choose to be a franchisee of a great brand. In our real estate blog, we have analyzed many of the best real estate franchises. If among them, you do not find any that meet the requirements to open a real estate agency, you can decide to open your own.
You can’t do it all by yourself. There are many (many) tasks that you do not have to take care of directly, such as accounting as mentioned earlier work or everything related to digital real estate marketing. Knowing how to surround yourself with professionals specialized in each subject is a sign of wisdom and the desire that your business reaches high. If you decide to hire the services of a real estate marketing agency that assists these tasks, be sure to ask for references, have more than a budget, and ask for a detailed proposal of what steps and actions they will take to carry out what you entrust them with.
Once the business plan has been completed, the following requirements to set up a real estate company affect the corporate figure that the new company will have. As always, we recommend that you consult a lawyer specialized in the real estate sector, who can advise you on the necessary steps and write the minutes and contracts of rigor.
The Ministry of Industry has a small application in the form of a guide that will indicate the steps taken, according to the decisions you are making about the constitution of the new company.
As a first guide, when you want to set up a new real estate business, you must take the following steps:
How much does it cost to open a real estate choice of legal form?
One employee is not the same as a hundred. The formal and economic requirements are not the same, as are the tax obligations. A corporation requires a minimum of $60,000, while a self-employed person does not need a financial contribution.
How to set up a real estate agency Incorporation process
Opening a real estate requires creating a new company, with various processes depending on the chosen legal status. An autonomous entrepreneur does not need any constitution process, while a corporation must carry out various procedures, namely: business registers, tax agencies, local treasury (taxes), and notary.
These steps can be carried out by yourself (except for the elevation of the minutes to the public deed for which you need a notary) or hire a legal agency/firm to carry them out for you.
If there are workers in the company, what is needed?
You will have to carry out another series of procedures, such as registering with Social Security, as well as registering the company in various registers. You can check the complete process on the website of the Ministry of Labor. Besides, you can consult the different types of employment contracts for your employees and decide what suits your circumstances best.
Financing: What options are there?
If you are going to need financing to set up a real estate agency, there are several options. You can choose one of the entrepreneurial grants offered by the central administration or ask in your area.
If you choose to ask for loan, check all the available offer beforehand, in addition to the famous ICO credits, which have benefited thousands of small businesses across the country.
Digital real estate marketing strategies to implement
It is not optional. Real estate marketing strategies is a fundamental part of what it takes to create a real estate. Today, and in a market as competitive as real estate, it is impossible to be noticed if you do not have an ambitious and detailed real estate marketing plan.
Start with a campaign to get brand recognition, or what is the same, to let potential customers know that you exist and that you offer services that they may need.
For this, we recommend that you use the internet as a promotional channel. You have other options available, such as advertising for a traditional real estate agency, in the usual channels, but you should never ignore the internet.
The techniques will depend on your budget and objectives, but you can implement some of these digital marketing actions for real estate-
Social media content
Social networks for real estate agents do not serve to sell directly, but they generate great visibility and serve to capture attention. The latest study, prepared by IAB Spain, users trust more those companies that have a presence in them.
Real estate blog
Opening a real estate will take less time than creating a real estate blog and maintaining it over time. However, it has been shown that internet users trust those brands that offer information of interest. It is a way to link them to the brand. You will need patience and perseverance, in addition to a study of keywords that you want to position in Google.
Advertising campaign in Google Ads
In addition to the networks and the blog, you can launch an Adwords campaign for real estate. You will help those who are looking for services or information related to the real estate sector, find your website.
Real estate website
All the above actions will be useless if you do not have a real estate website. It must be optimized for mobile devices and be quick and easy, but modern at the same time. Your website is your presence, and it must meet the same standards that you ask of all aspects of your business.