What Real Estate For A CAUSE Provides Its Franchisee’s
Training & Support
Monthly Broker/Owner Meetings to discuss strengths and opportunities
Monthly office meetings for all agents
Celebration and Holiday get-togethers
Recognition for monthly/yearly performance
Monthly Income From TIAFAC
Monthly rent assistance from Caliber Home Loans
Marketing Service Agreement with ACHOSA Home Warranty
Our Customizable Franchisee Options To Ensure Success
|Independent With A Brokers License||You are the Broker/Owner|
You have your own website
You use your own systems
You have your own store front
|Store Front Without You Having A Brokers License||James Mirolli is Broker/CEO|
You use our website
You use our systems
|REFAC/(Insert name here) Hybrid With A Brokers License||You are the Broker/Owner|
You use our website
You use your own systems
You have access to all of our forms
|Virtual With Or Without A Brokers License||You are the Broker/Owner or James Mirolli is the Broker/CEO|
You use your home address for your business
You work out of the REFAC Grand Blanc Office
|REFAC Manager Without A Brokers License||James Mirolli is the Broker/CEO|
James Mirolli pays overhead costs
You are paid salary to manage the office
Quarterly performance bonuses
PNL – salary & all expenses are taken into consideration
You are on an agent split
Seven Things You Should Know Before Starting Your Own Real Estate Brokerage
1. Your brokerage needs a clear objective
You need to know why and believe in the reasons why you are starting up your business. You need to be able to make decisions with a clear objective in mind. Find an advantage that makes you stand out.
2. Your brokerage needs a competitive advantage
You need to find something that separates you from others and makes you stand out. Success of the past in a good building point, but ensure you have a competitive advantage amongst your fellow brokerages that separates you from the competition in the customer’s view.
You have 3 types on competitive advantage for your brokerage… price, unique products/service, or specific niche. You could offer lower commissions, a special program or perk to help your clients out, or focus on one main area and use your knowledge and power in that area to your advantage.
3. A recruiting plan is essential to attracting the right agents
Use your objective and competitive advantage to determine the type of agent who you want to bring in and that you think will thrive at your brokerage. Discuss how it could benefit the agents you wish to bring in. Learn the agents niches and narrow down your options to the best fit for your brokerage. Present to them why you want them to be a part of something bigger and why they should choose your brokerage over theirs.
4. You need to develop the necessary processes and procedures to operate a Real Estate Brokerage
Being a successful agent is completely different than being a successful leader and owner of a real estate brokerage. You need to have procedures in place to maintain a brokerage on a daily/weekly/monthly/yearly basis. You will need agent support, broker supervision, office management, agent recruiting, and much more to be successful. In addition to creating your own processes and procedures, you will also need to manage your employees and lead by example by following your objective. It is a lot of things to maintain, but well worth it in the end if you have what it takes to ensure you are successful.
5. Software can make or break your brokerage
Consistency is the secret to owning a brokerage that will help with turnover numbers and willingness to succeed. Trust is made when consistency exists which leads to retention and referrals. Investing in your brokerage software and not going with the first one you see is the key to consistency. You as the Broker need to ensure that the systems are consistent so if for some reason any key employees leave, you have the ability to continue your processes and procedures without hardships.
6. How to select the right office for your brokerage
Your largest expense and risk is normally your office space. You must consider your objective, your competitive advantage, and your agents before getting tied into a large payment for an office. Make sure the space aligns with your goals and get it correct the first time as it is more difficult to change down the road. You may want a visible office to create brand awareness, or you may want a semi-private office if you already have brand awareness through social media and community events.
7. How to select the best location for your brokerage
Location is one of the most important aspects of choosing your office space. The location determines more than what area of town you are in or your visibility. It determines what types of deals your agents will get. Whether you are in a small town or a city setting, you could have anywhere between mansions in the suburbs to condos in the city. If you are a visible office, you need to have curb appeal that will invite people in and parking for easy accessibility. You’ll also want to ensure that you are in an area that your agents can be successful and thrive in.
Starting your own real estate brokerage from the ground up can be fulfilling and scary at the same time. It is a lot of work that some people do not realize. Opening a franchise is a great option as the objective, competitive advantage, recruiting plan, and software are already there for you to feed off of. With our customizable franchise plans, we give you the best of both worlds and you are able to pick and choose what YOU want to do. Talk with James Mirolli today to find out more about how we can help you succeed.