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Opening Own Office

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Services for Real Estate Pros with I Am Marketing
question to all...  what do you think about starting own mortgage broker office just to do things the way you want? i haven't found an office here that I like since i've recently moved and i'm reading up on necessary steps to open up my own shop. is that a little extreme?
Scott Daniels Florida Real Estate 2.0. Agents Earn 100% Commission.
Florida List For Less Realty, Inc. Broker/Owner. - Cooper City, FL

CL,

You`ll do great. Keep the overhead low for the first 6-8 months and grow from there.  

Apr 13, 2008 11:26 PM
Kevin Corsa
H.I.S. Home Inspections (Summit, Stark Counties) - Canton, OH
H.I.S. Home Inspections, Stark & Summit County, OH Home Inspector

Hi Crystal,

I hope you don't mind a home inspector commenting, but I just wanted to say that it might be extreme to open up your own office, but it is probably the only way you can ever be free t make your own rules and decisions. I have never regretted going into business for myself. After 20 years of working for others, I am now at least the master of my own fate.

Have a great day, and good luck!

Apr 13, 2008 11:28 PM
Richard Weisser
Richard Weisser Realty - Newnan, GA
Richard Weisser Retired Real Estate Professional

Crystal, Here are the things to consider: Joining the 2 Atlanta MLSs and their fees, E&O insurance, normal office overhead, rent, utilities, staff, incorporation and the tax accounting requirements, all compliance issues, all business machines ... need I go on?

The average office will cost somewhere betwwen 30K to 100K to set up, not counting the lease or the real estate. After you deduct ongoing expenses, how long would it take you to recover the money?

Apr 13, 2008 11:30 PM
Harold "Hal" Place
A1 Connection Realty, Inc. - Sun City Center, FL

Morning Crystal,

Yes, it is an extreme move! But a good one if you have everything in order. I just sold a business I owned and operated for more then fourteen years. Just be sure you have enough operating capitol to keep you going for the first year and stick to your budget. From there you will grow and prosper with dedication and service.

Good luck to ya!

Hal

Apr 13, 2008 11:35 PM
Gary McAdams
GMAC Schwartz Property Sales - Key West, FL
I would hold off for a while until you get your name known.  Moving to a new area can be tough, and the market is slow and now a new company.  Too much too soon.  Wait a year than do it.
Apr 13, 2008 11:39 PM
Donna Marie Godfrey
Godfrey Properties - Pottstown, PA
Crystal:  Do it, why not?
Apr 13, 2008 11:46 PM