If you have thought about setting up your own real estate brokerage in Missouri, you know that you have a long road in front of you. Even with all the real estate CE you have under your belt, experience is a critical component in becoming successful.
Of course, you need to know a few things before you get started with your brokerage. Understanding how to build a successful brokerage begins with taking the initial steps to establish your business.
Find a Real Estate Mentor
Listening to advice is commonplace for anybody who works in real estate, but starting a brokerage is its own feat. Many of the tasks you are about to undertake are only easily understood by fellow brokers. For many new brokers, their mentors are the brokers they worked under as they began their real estate careers. Some seek out other professionals with their own experiences.
Understand Your Strengths
No matter your strengths, you need to learn how to apply them to your career to the best of your abilities. Take the skills you have now and tailor them to your business.
For example, certain personality traits are beneficial for the burgeoning real estate broker. If you are an extrovert, you might benefit from making phone calls and putting yourself out in the open at conventions, for instance. Introverts might find that they are more successful using the Internet compared to a marketing tactic like cold calling.
Establish an LLC
If you want to protect your personal assets and rights, you should operate your real estate brokerage through an LLC. In Missouri, this process requires you to file articles of organization with the state and sign the paperwork accordingly.
After officially forming your LLC, you must then submit an application to the Missouri Real Estate Commission. Upon approval, you will be a licensed real estate association. After this, it is your responsibility to continue meeting the state’s brokerage requirements.
Use Technology to Your Benefit
Real estate brokers need to understand how to appeal to clients, and technology is one significant way to do this. For instance, your broker’s website should appeal to smartphone users just as well as desktop users. Mobile web users make up a significant portion of those shopping online for homes.
Your website and online presence also need to help convert leads, offer great photos, and provide useful tours of the homes. Social media is indispensable for any new broker, especially when you determine your niche and local focus.
You can also use technology to build a website, which should include your sold properties, your current listings, and some information about you. Make certain to include information that will appeal to the clients to whom you are dedicated. In fact, you might even think of your real estate brokerage website as a portfolio.
Become an Expert
Even as an experienced and knowledgeable broker, you can benefit from real estate CE. Not only is coursework required to maintain your real estate license, but it also helps you stay current with all available information about managing your brokerage. Contact us for more information about courses that help you achieve your dreams.