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Opening up your own Broker Shop? Here is some helpful hints

By
Mortgage and Lending with KEES Lending, Inc NMLS# 235090

With the remaining number of us left, I would say that some of us are having a tough time with obtaining new business, while some of us are abosultely killing it. Either way, whether you are a long time Broker with agents working for you and business slowing down, or your like me someone who is obtaining their Brokers License soon and looking to expand in a down economy, there is 1 shared theme...COSTS! 

A Broker struggling may be looking to shed costs, while a newbie Broker expanding is looking to keep costs low as well just in case he/she needs to bail and go back to working from home! Its scary starting your own business, worrying about things like Internet, Phone, Staffing, Hosting, Meetings, Furniture, Leases, Payroll, Compliance, etc. Not to mention on top of all that we have to keep up to date with new regs, which as we ALL know something that changes daily.

Below is a list of services that have very little cost compared to the "big box" stores/servicers. Take a look, and I hope it can help you save some loot.

Cell Phone

  • Sprint PCS (http://www.sprint.com): At $$79.99 per month for unlimited service nationwide, Sprint has been in the cell phone game for a very long time. They have some of the latest and coolest smart phones like the HTC EVO 4G, which in my opinion blows the iphone away. The Android market has way cooler apps, as well as the same apps as the iphone. For you Realtors, have you heard of the Suprakey App?, Yes, thats right you can unlock lock boxes with a touch of a button from your PHONE! Also they have very good quality data plans, with the company leading the polls in the Tablet market with the Samsung Galaxy Tab.
  • Metro PCS (http://www.metropcs.com): $49.00 per month for unlimited talk, text and web. You can get your favorite Sprint or Verizon phone flashed to metro for roughly around $100 - $120 from your local vendors in the mall. That means if you find a used Verizon iphone/blackberry or Sprint EVO, which you can totally find for around $175, and then have it flashed to metro for $120, you have now paid $295 for a very cool phone and have all the same features for $49 per month unlimited. For the agent on a true budget but doesnt want to sacrifice. 


Phone Service

  • Vongage (http://www.vonage.com ): At $24.99 per month for regular service, Vonage is probably the best known Internet phone service out there. Vonage also has a number of other plans, including a $14.99/500 minute plan and a $34.99/month plan with a calling area that includes the U.S., Canada, Puerto Rico, Italy, France, Spain, UK, and Ireland. These two plans are listed in Vonage’s site as being for residential use, but the company also offers business plans. At $39.99 per month, Vonage provides 1,500 minutes of calling to the U.S., Canada and Puerto Rico. At the $49.99/month level, there are no calling limits, the calling area expands to include Italy, France, Spain, UK, and Ireland and a fax line is thrown in.
  • Skype (http://www.skype.com): When it comes to Internet phone service from a computer, Skype is the leader. It’s been around for a while and doesn’t cost a whole lot. While best known for computer-to-computer calling, by purchasing a phone number and paying 2.1 cents per minute, you can call land lines from your Skype account and receive business calls from anyone. For a complete list of international rates on Skype, visit http://www.skype.com/prices/callrates. For an additional fee, you can also purchase a Skype voicemail box.
  • Magicjack (http://www.magicjack.com): When it comes to the lowest price per year, the best that a small budget can buy per year at $19.95, but okay phone quality...Magicjack is your choice. Hell, I am not afraid to say I use it, But that is for my home office. 

Small business phone system

If you’re just getting off the ground, you may find that buying a phone system is cost-prohibited and complex.  And, you might want to simply focus on your business and not on all of the underpinnings of operations.  Instead of trying to build your own PBX from scratch and hire and assistant to manage calls, let someone else do it for you on the cheap!

  • SmartOffice (http://www.businessphonesolutions.com): Starting at $59.95, SmartOffice is your virtual assistant. Base packages include up to five extensions and 400 or 3000 local minutes depending on whether or not you want to use a toll-free number. Under the $79.95 rate plan, unlimited local plans are included. Long distance calls are billed at $0.05 per minute. The SmartOffice feature set also includes faxing and automated attendants.
  • OneBox (http://www.onebox.com): OneBox provides a similar service as the one provided by SmartOffice and has plans ranging in price from $49.95 (4 lines) to $79.95 (10 lines).

Virtual remote assistant

  • oDesk (http://www.odesk.com): oDesk is an online staffing marketplace dedicated to helping people get the right person for your needs. The providers that make their services available on oDesk charge an hourly rate and oDesk takes 10% off the top as their service charge.
  • YourRemoteAssistant (http://www.yourremoteassistant.com): YourRemoteAssistant is similar to oDesk in that the purpose is the same. However, unlike oDesk, which uses staff from all over the country and world, YourRemoteAssistant uses staff based in the Philippines.

There are a whole lot of these kinds of services out there.  A Google search can point you quickly in the right direction.

 

Email & Web Hosting

  • Intermedia (http://www.intermedia.net): Intermedia provides hosted Exchange services for individuals, small business and large organizations. In addition to a hosted mailbox & calendar, Intermedia also offers synchronization between your hosted Exchange account and your handheld device, such as a BlackBerry or Treo. Intermedia’s smallest plan starts at $35.85 per month for 3 accounts. While Exchange hosting is not the least expensive option out there, it can be the most versatile.
  • 1 & 1 (http://www.1and1.com): 1 & 1 provides single user hosting for Exchange accounts so you can buy exactly the number of accounts you need. Like Intermedia, 1 & 1 provides additional services, including mobile device synchronization. 1 & 1 charges $6.99 per month per user for Exchange hosting.
  • Hostgator: Very inexpensive and who I use. $3.95 per month

Web Conferencing

  • GoToMeeting (http://www.gotomeeting.com): The owner of a brand new small business probably can’t afford a whole lot of business travel, but with the world as a market, you might want to “meet” with potential clients to show presentations, explain proposals, etc. With monthly unlimited plans allowing up to 15 participants each costing $49.95, you can bring the world’s clients to your desktop.
  • WebEx (http://www.webex.com): WebEx is the grand poobah of the web conferencing industry and has been around for a long time. WebEx offers plans starting at $59.95 per month for individuals, small business and large business.

Backup Service

  • Mozy (http://mozy.com): Loss of data due to failed hard drives, disasters or sabotage help close the doors to businesses all the time. Keeping your business data safe from loss is important to the success of your business. Mozy provides personal unlimited backup at $4.95 per month. For business, Mozy offers a full suite of services as well, including the ability to back up SQL, Exchange, Macintosh & Windows computers and more. MozyPro has desktop pricing of $3.95 + $0.50/GB per month with server licenses running $6.95 + $0.50/GB per month.
  • IDrive (http://www.idrive.com): Do you have less than 2GB of data that needs to be backed up? Go free! IDrive provides backup space for 2GB at no cost with business plans offering up to 500GB of space for $49.95 per month. IDrive also supports both Macintosh and Windows computers.
 
Good Luck to you, keep your chin up, and thrive while you survive!
 
Happy Fundings,
 
 
Sunny Singh
Lori Bowers
La Quinta, CA
The Lori Bowers Group

These are all great ideas and very important to save money now more than ever. $20 here and $30 there can end up saving thousands over a year.

Jul 25, 2011 06:08 AM
Bruce Parker
Best Realty - Highland Park, NJ
You Deserve The Best

great post. i will email you for more ideas. Want to help me write a book?

Jul 25, 2011 06:12 AM