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Is it crazy to start up a NEW Brokerage in this economy???

My last Broker told me that I should have picked a designation. Excuse me, this is a designation last time I looked.

I am sooooooo excited that I was pushed into this great opportunity!

My questions are as follows:

Software programs for sales, rentals, vacation rentals and showings all in one or close
Should I hire newbies? I think so
What are some tips in starting a Brokerage?
Should I compete with Agents? I was only planning on taking on past business and my referrals
Should I have opportunity time
What kind of Awards should I plan?
How often for meetings?
How often for Caravan?
How should leads be assigned? I was thinking in Aplhabetical until software was purchased that automates websites.

Please pass along any advice that may help or be useful in your opinion.

Island Palms Realty

1091 Redi Mix Rd

Ste C

Little River, SC 29566

(843) 390-5101 FAX

(843) 450-1912 OFFICE

(843) 450-1915 MOBILE

Island Palms Realty Vacation Rentals & Sales on Facebook

Posted by Chris Webster ~ Myrtle Beach Real Estate Myrtle Beach Foreclosures and Short Sale on 08/13/2009 12:34 AM

Comments (4)

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4 Comments on Is it crazy to start up a NEW Brokerage in this economy???

AUG

Go for it! Know your market, know what you need to do, and never give up. Keep learning, growing, and adapting, and you'll tackle anything. I started my company in the current market (heavily involved in the real estate industry), and people thought I was crazy! Now my company is turning heads and moving forward at a faster and faster rate! I've brought on more people, and I'm getting busier!

You can do it! :) I'm not an agent or broker, so I can't really answer your questions, but as CEO of a growing marketing company, I can tell you to harness the power of the internet, especially video- the internet can get you there if you know what you're doing. :)

Chris, I think you will have a challenge ahead of you, but way to go. Yes, you should hire newbies and you will be able to train them your way. Also start a mentoring program to get them started off on the right foot. Good luck with your new venture.

Good luck...Diane Aurit has been doing a wonderful series of blogs on starting your own Brokerage. Here is a link to Part 5, but you can go back from there and get the others. A lot of your questions are also things that may be personal preference..Go for it. I started mine Jan 1st of this year and its the best thing I've ever done!!

AUG

Hey, Chris. I say go for it. You dreamed it, so you should do it. I also feel that "newbies" are an extremely important part to any real estate company. So, give them a chance (we were once there). All my best, Jim

Remember: Family first

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Is it crazy to start up a NEW Brokerage in this economy???

My last Broker told me that I should have picked a designation. Excuse me, this is a designation last time I looked.

I am sooooooo excited that I was pushed into this great opportunity!

My questions are as follows:

Software programs for sales, rentals, vacation rentals and showings all in one or close

Should I hire newbies? I think so

What are some tips in starting a Brokerage?

Should I compete with Agents? I was only planning on taking on past business and my referrals

Should I have opportunity time

What kind of Awards should I plan?

How often for meetings?

How often for Caravan?

How should leads be assigned? I was thinking in Aplhabetical until software was purchased that automates websites.