Thinking of opening a new real estate office? It may sound exciting, but I'm here to tell you that it's no easy feat.
After almost 19 years with Re/Max I decided to go on my own with my husband and open our own company, Desert Properties Realty. Coming from a 100% office like Re/Max I was used to paying for everything, having minimal support and learned how to build my business on my own over the years so I really didn't think that it would be very difficult to just "open shop" under a new name for my husband and I.
The move to a new physical offsite location (other than your home office) was easy, new furniture was installed, fax lines, cable set up, computers, etc..But what I was really not well prepared for would be the time spent staying on top of the education, new trends, new laws, forms that a broker should have reviewed by an attorney, etc., so that I can stay in the forefront of my field. This is in addition to the time spent with clients showing property, returning calls and emails, lead generation etc. Time management is the biggest crucial obstacle that I face every day when I go to work so time blocking my schedule is a must, otherwise 20 hour days could be a norm.
On the business side this has been a good move. We don't have any other agents, it's just the two of us and production is up, due to good systems and better communication with clients. I love having our own company and building it to it's greatest potential. There's an old saying "you reap what you sow" and nowhere does this apply in business more than real estate. I would encourage anyone out there who is thinking of opening their own office to carefully weigh all the pros and cons to determine if it would be a good fit. It was the right choice for us!