You may have a quality experience from years of working at a real estate company. However, you want to strike out on your own. The next move would be starting a realty. Here are some tips to help you build a real estate firm.
What Are Your Short and Long-Term Goals?
Think about your short and long-term goals for being a Santa Monica real estate agent. Maybe you’ve decided you want to flip houses. You can renovate a fixer-upper and sell them at a higher price.
It could be a solid way to build assets over a few years. However, you might think about the future play. You might want to take things to the next level and own buildings.
Maybe you want to own a condo complex where people pay you to rent every month or develop some land where people want to house their businesses. It could be a better pay-off for the long-term and turn into a lucrative residual income opportunity.
Form an LLC
Before you start developing plans of what to do with your realty dream, you need a real estate LLC. It helps protect you from personal liability. Here are some things to help you get started:
- Find out what your state requires in terms of fees and guidelines to help you streamline the process
- Choose a business name that suits your brand
- File an Article of Organization with your state
- Create an operating agreement for the business
- Publish an intent to file
You might have to get a few more permits after applying for an LLC. Each state is different, so look up the details to help you begin your business.
Plan Your Business Marketing Strategy
Once you’ve got your LLC and can begin your brand, create marketing tactics to help you promote it.
Of course, you can go the traditional method through postcards, handwritten letters, and sending some mail to your potential clients.
However, a middle-aged audience might be more receptive to email lists. You can create a website with your profile, listings, and other things to show your brand.
Social media is one of the best tactics. You can cut your budget in half. Come up with viral videos, post updates about your properties, and create a funny meme that’s relevant to your brand.
Creating a realty corporation takes time but can help you find your niche in an evolving industry.