I want to set up an Estate agency
If you're thinking of starting your own estate agency you have plenty of Choice in the Uk at this moment
Do you
- Go the traditional route of finding a High Street shop and start from scratch
- Look at one of the Hybrid models like Keller Williams / EXP
- Do you look at a Franchise like Winkworth or Remax
The first thing is congratulations, if your taking that first step into becoming your own boss its a brave move as more than likely your going from a regular pay check every month with great Job security to a journey where you don’t know where it will lead but if you do it the right way it will have fantastic long term effects.
I get asked all the time which is the best route and unfortunately I cant answer that as its not that simple it all depends on you and your circumstances
- Can you afford a High Street Shop rent
- Can you afford to fit it out
- Do you already have franchisees on the high street
- Have you worked in the area before
- Have you looked at the cost of the Portals
- Are you going to the on staff
- Are you aware of what commission you give away with the Hybrid models
All these are relevant questions , I suggest you sit their and do a good old fashioned Brainstorm and list strengths and weaknesses of each one
For Example
Hybrid model
Strengths
- For a small costs every month they arrange your Tech , Prospecting Tools , Portals , Websites
- Training and Support
Etc
Weaknesses
- They take a percentage of your commission
- Your heavily relying on your personal brand ( that can be a positive )
My best advise would be to research everything and make the right decision as you never know even if your bank balance isn’t the greatest you could agree a rent free period on a local shop as currently we have many vacant units , you could agree a free period with Right move or Zoopla based on a long term contract and their are some great tech out their like LetsBid property that can help with prospecting at affordable prices.
Come and talk to us Now if your a new agent tying to set up our Area managers always have time to help point you in the right direction
