Real estate agency business plan: example with calculations

Opening a real estate agency: how to start

The decision to open their own real estate agency is most often made by former employees of similar companies.
During their work, they gain the necessary experience and understand all the intricacies of organizing a business such as a real estate agency. And some take the database with them if the employer did not take care to ensure high-quality protection of commercial information. Such people know roughly what it takes to open a real estate agency, and even plan to create a company from scratch unofficially, without thinking about what problems this might lead to. It seems to them that no special difficulties should arise: it is enough to rent office space, purchase a minimum of furniture and office equipment - and everything is ready for millions to flow into the hands of a newly minted businessman.

In reality, everything turns out to be not as simple as in dreams. The real estate market is experiencing a real boom, and the number of new real estate agencies is growing at tremendous speed. But at almost the same pace, the number of companies that cannot withstand the realities of the Russian real estate market is increasing and are closing down without even a year of operation.

How much is real estate?

Where to start a small business - a real estate agency? This question is asked by entrepreneurs who have decided to grab their piece of what they think is a sweet pie, which is the real estate market. The low barrier to entry into this business has led to an increase in the number of new real estate companies. But at the same time, not all beginning businessmen realize what difficulties they will have to face in the process of opening their own real estate agency from scratch.

Judging by the reviews of people who worked as real estate agents and subsequently tried to open their own agency, problems await the newly minted businessman everywhere. First of all, without having your own base, it is very difficult to acquire a clientele. Potential real estate buyers prefer to contact large agencies that have been working in this market for a long time, because people are afraid of being deceived. It takes a long time to build a reputation and create visibility.

The profit of a real estate agency largely depends on advertising, which requires considerable funds. You must be recognized, and for this you need to constantly promote your services. A striking example of advertising for a newly created real estate agency will attract the attention of potential clients. A competent marketing strategy is an opportunity to reduce the payback period of a real estate agency. To be convinced of this, it is enough to get acquainted with examples of successful real estate sales businesses.

A professional example of a business plan for opening a real estate agency with ready-made calculations will undoubtedly help to cope with the numerous difficulties that inevitably await beginning businessmen. Using this document, you will easily overcome zero fame in this market segment and feel confident in your abilities.

Description of products and services offered

Our company plans to provide the following services:

• Purchase and sale of apartments, land, cottages, dachas, houses, apartments from developers.
• Legal services – representation in courts in family, housing, land and civil disputes. Drawing up statements of claim, transferring housing from residential to non-residential (and vice versa). Registration of legal entities and individual entrepreneurs.
• Rental services – rental of residential and non-residential premises, rental of luxury housing.
• Sale of real estate under housing programs - young family, mortgage, housing certificate, military certificates.
• Comprehensive mortgage services - mortgages without certificates and guarantees, full support of mortgage transactions.
• Resolving issues related to obtaining maternity capital.

According to preliminary calculations, the profitability of the business for the first 12 months of operation will be no more than 100 thousand rubles per month (profit). The company will need to develop a customer base and gain customer trust. From the second year of operation, the company’s monthly profit will average 200 thousand rubles per month (this data is provided by the franchise owner).

Summary

This business plan is a description of the implementation of a project to create a Real Estate Agency (hereinafter referred to as the Agency) with a payback period of 2 years.

Project goals: the organization of the Agency pursues 3 main goals:

1. Creation of a highly profitable enterprise with a short payback period
2. Getting a stable income
3. Satisfying the demand of the consumer market in the field of real estate rental services, real estate purchase/sale, and other real estate-related transactions

Source of financing: own funds, or commercial loan in the amount of 2,000,000 rubles at 20% per annum

Payments of borrowed funds and interest on the loan begin from the 1st month of implementation of this project.

Form of business activity: LLC

Form of taxation: at the Customer's choice

Total cost of the project: 2,000,000 rubles

Payback period: 2 years

Investor income: 800,000 rubles

Conditional life cycle of the project: 3 years

Step-by-step business opening

To create a business you will need to go through a few simple steps on the way to opening. You will need to choose a form of doing business, officially register, select an office and employees, and conduct an advertising campaign.

Business registration, required documents

To work in this direction you do not need a license. You just need to officially register by choosing a form and register with the tax authority. It will take several months for a real estate agency to open and complete paperwork.

At the start, you can register as an individual entrepreneur, which is much simpler and does not require much effort, and in case of fines, they will be minimal. You can register a business while sitting at home by going to the official website and paying a state fee of 800 rubles.

When creating a business with partners, or having a desire to constantly expand, work with the state, you need to register as an LLC.

Required documents

When registering an individual entrepreneur for a real estate agency, there is no need to buy a stamp. However, it is recommended to do it, since buyers trust papers with a press imprint much more.

To run a partnership business, a real estate agency must register as an LLC.

OKVED code

One or another OKVED code must be selected to register a business:

• 31 – work of agencies, according to real estate transactions;
• 32 – real estate management;
• 20 – work in the field of insurance;
• 84 – provision of other services.

What permissions are needed?

To run a business, you do not need a special license, but it is a prerequisite for opening real estate agents from scratch; businessmen register their company as an LLC or open an individual entrepreneur.

In order to legalize business activities, you should go to the tax office according to the applicant’s registration area, provide a photocopy of a document confirming your identity, draw up a proper application, and pay the state fee. The registration period is approximately 10 days. This is the real estate agency business plan with calculations we came up with, we hope it will be useful to you.

Which tax system to choose for a real estate agency

The organization's wage fund will amount to 251 thousand rubles. per month. The organizational form of the organization will be a limited liability company (legal entity). The tax system is the simplified tax system, 6% of the agency’s revenue.

Buying a franchise

It is better for novice entrepreneurs not to start a business by purchasing a franchise.

At the same time, there are very few recognizable companies in the real estate business, because most companies either exist recently or have never gained fame. But in most cases, clients do not care about the brand; they care about quality services and good pricing policy.

Also, the business idea is not so difficult to implement that it requires such support as when buying a franchise.

Registration of activities

So, you have decided to open a real estate agency, where to start? First of all, this is, of course, registration. You can register your business as a closed joint stock company or an individual entrepreneur, but the best and simplest option, which is most often used in our time, is business real estate LLC. In this case, you will not have to deal with re-issuing documents if the business begins to flourish, or, on the contrary, declines.

To register your activity you will need:

• Minutes of the meeting on the creation of the LLC;
• Charter of the company;
• Passports of the director and founders;
• Statement;
• Payment document confirming payment of the duty.

In just 5 days you will be able to receive a registration certificate and register with the tax office, pension fund, statistics department and insurance fund.
Another serious question that arises before the founders is what to name the real estate agency? The name of such an organization should not be too pompous or simple. If you cannot come up with something worthwhile yourself, involve an experienced advertiser in this matter.

How to open a real estate agency: can you work on your own?

Many entrepreneurs are concerned about the work of the agency. How to work alone and is it realistic? Is it possible to do business without an office? Are there any benefits to working in an agency?

Is it possible to work alone?

In general, we can say that a real estate agent is already a solitary work that is not supposed to be performed by a team. The main purpose of staffing is to expand the business and increase profits. After all, the client will not constantly wait for the agent to become available - he will simply go to another company.

One person will not be able to break out and cover a large area of ​​the city, all clients and satisfy their needs. By creating a business where only the entrepreneur himself will work, it is impossible to expect to make a large profit.

Ideally, it is better for a business to hire employees whom the manager can trust and rely on in difficult moments. But, unfortunately, not all business owners want to become agents, and often finding personnel is difficult. This is because for a whole month you may not complete a single transaction and earn nothing.

For the first months, an inexperienced realtor will not receive any income, which affects his morale. At the same time, there are a number of significant disadvantages in the work:

• Irregular work schedule.
• Fixed costs for transport and communication.
• Clients constantly try to deceive agents.
• Maximum efforts are needed, which may not be justified at the end of the month - the salary will be minimal or zero.

Benefits of working for an agency

If you look at working in an agency from an agent's perspective, there are some advantages. A business such as a real estate agency provides all the necessary materials and work support. The company provides advertising, attracts new clients, pays for transport and mobile communications.

There is also a stable, minimum fixed salary, which in case of a bad month still remains.

Of course, there is a minus in the form of deductions from a successful transaction in the amount of 10-50%, but the advantages of the work outweigh this.

How to become a successful realtor?

In addition to carrying out entrepreneurial activities, you need to constantly improve your own legislative and real estate knowledge. If there is little such knowledge, then you can quickly go broke for two reasons. The first is participation in illegal transactions. And the second is that the staff can fool an uneducated manager and pocket most of the profits.

It is advisable, immediately after opening an Academy of Sciences, to plan in your budget the costs of attending specialized certified real estate courses and programs.

This will allow you to be aware of any market changes and better see business opportunities in the real estate market.

If there is a reliable and proven employee on staff, then a successful realtor can spend a certain amount to improve his professional level.

If the amount of knowledge and level of the agency itself already deserves not only the attention of a large number of clients, but also the envy of competitors, then you can think about registering with the regional Association of Realtors.

Many people make the mistake and start collecting documents immediately for the Russian Guild of Realtors. You need to immediately understand that it is very difficult for a beginner to get into such a closed community. Therefore, it is better to take a roundabout route and become a member of several local communities first.

Secrets of a successful realtor

Since the Housing Finance Bank offered a new type of mortgage, both with a transfer to a non-residential fund, you can take advantage of this innovation in the development of your business. This mortgage program offers favorable conditions for those who already own or are planning to purchase residential real estate that is better suited for commercial activities.

During the mortgage payment period, it is possible to prepare documents and transfer the property from residential to non-residential status.

Therefore, if the initial capital is insufficient to purchase real estate for future use, you can use this mortgage.

This will allow you to turn budget residential real estate into profitable commercial real estate for sale.

note

At a low cost, you can break into the sphere of transactions with non-residential stock, creating its objects yourself.

Higher real estate schools are opening in many regions, and attending seminars can bring significant benefits to knowledge in business development.

Moreover, becoming a student of this school is the path to the opportunity to eventually become a member of the RGR (Russian Guild of Realtors), which will immediately raise the agency to a higher level for both clients and competitors.

If you are sure that one of the competing companies has forged a certificate of membership in the RGR, then you must inform the guild. This will help you quickly eliminate your competitor using the wrong hands.

How to become a professional realtor? When gaining a foothold in the real estate market, it is best to rethink your advertising program and make it more informative and accessible to clients.

To do this, you need to either gradually develop a good advertiser in your team, or hire an outside worker.

High-quality advertising helps position your agency much more favorably against competitors.

Which room to choose for an office

A premises with an area of ​​55 square meters was chosen to house the real estate agency. m., located on the first floor of an apartment building. This is an elite area, with many new buildings, with good access roads and parking. The premises meet all sanitary and fire safety standards, and have also been transferred to non-residential status. The rent will be 35 thousand rubles. per month. It is planned to employ the following as personnel of the organization:

• Real estate specialist, 6 people, average salary – 18 thousand rubles.
• Sales department manager, 2 people, average salary – 20 thousand rubles.
• Mortgage lending specialist, 1 person, average salary – 18 thousand rubles.
• Lawyer, 1 person, average salary – 20 thousand rubles.
• Advertising specialist, average salary - 17 thousand rubles.
• Manager. 1 person, average salary - 30 thousand rubles.
• Accountant, 1 person, average salary – 18 thousand rubles.

Selection of office space

To conduct business, it is advisable to choose an office in the central part of the city (if the agency will be engaged in the rental and sale of real estate throughout the city) or in the area where the activities will be carried out directly.

The most optimal solution is an office on the ground floor with a separate entrance on the red line. The second option is an office in a large business center. An office may consist of several separate rooms.

The first room is the client waiting room and reception, the second is the place where real estate agents are located. A separate office for the manager should be organized, which can be combined with a place for paperwork if a lawyer is visiting.

If a lawyer works in the state on a permanent basis, you need to provide another office where he will work and draw up transactions.

Real estate business: what a beginner needs to know

As with any activity, there are pitfalls here. The most important problem is information leakage. Unscrupulous employees may “share” customer contacts with your competitors or conduct transactions privately.

How to protect yourself? Carefully select personnel and be sure to spell out all the duties and responsibilities of employees in the contract. For example, indicate the amount of the fine for disclosing confidential information.

Another option to simplify your task is to purchase an existing real estate agency. This way you will get a business with an established reputation, customer base and staff if it agrees to work on the same terms after the sale.

It is important to understand here: a ready-made business does not guarantee you passive income and easier management of the company. However, if you choose a working agency wisely and check the business before purchasing, you can get excellent help to get started!

How to organize work in a real estate agency?

After registration, choosing an office and running an advertising campaign (all three stages are available in parallel if you have enough finances). An important point is the correct work with clients, because how to organize work in a real estate agency is no less important than, in principle, starting to run such a business.

First of all, everyone who contacts should feel that the realtor is paying attention to everything he says, namely: problems, requirements, opportunities, emotions, etc.

In general, communication at every stage is a delicate psychological work. Another important point is gaining trust.

To obtain a complete portrait of a person and be able to choose an option that suits a specific client, it is necessary to collect the following information:

• The purchase is made on credit or in cash;
• What are the requirements in terms of renovation, floor, connection to a specific social facility, be it a school, kindergarten, or, for example, work.

All employees must understand that they should not put pressure on the client by using phrases that focus on: “highly qualified employees,” “place in the ranking of competitors,” etc. It is better to give preference to an emphasis on an individual approach and taking into account everything that is specified by the customer.

Choosing an office for a new agency

The next answer to the question: how to organize a real estate agency from scratch is that you need to choose the right office. There are several factors for a good room:

• Preference should be given to crowded places, and not necessarily in the city center;
• If finances allow, it is advisable to buy the premises immediately. First of all, this contributes to a rapid increase in prestige, and also provides the opportunity to carry out re-equipment independently, taking into account personal preferences, wishes, as well as corporate style, at any convenient time. Plus, having its own office makes the company more presentable in the eyes of potential investors;
• A landline telephone must be installed in the premises, since the agency’s short number is easier for clients to remember. If it is not possible to install a landline phone, you can use a cell phone with a landline number.

• A separate point when answering the question: how to organize a real estate agency is an advertising campaign. It is this process that allows you to quickly and efficiently create a client base.

Among the main stages of such a process are:

• Accurate definition of the required information;
• At the initial stage, it is better to give preference to objects that have a sufficient level of liquidity combined with an acceptable cost (in order to interest a large number of citizens from different social strata);
• If the main area of ​​work is housing, then the advertisement should contain information about whether it is possible to obtain a loan or mortgage
• Focusing on the strengths of both the agency itself and the real estate it sells (location, availability and level of infrastructure development, number of floors in buildings, type of house, etc.).

A big advantage will be the use of: banners around the city, media, advertisements located on boards and booklets distributed in crowded places.

Staff

The basis of a successful business is qualified employees; the company’s profit depends on their professionalism. The company's staff must include:

• realtors (from 5 people);
• office manager for receiving applications;
• HR manager;
• accountant;
• cleaning lady

Employee Responsibilities

The manager’s responsibilities include monitoring and organizing the work of the entire real estate agency.

The responsibilities of a secretary or assistant include receiving incoming calls and correspondence, generating applications for the purchase and rental of real estate, accounting for real estate, sometimes advertising issues and performing tasks on the economic part of the organization. At first, these tasks are performed by the manager and you can do without an assistant.

The tasks of a real estate agent are clear: carrying out real estate activities in the field of renting or selling real estate. For the efficiency of realtors, they form groups of agents according to territoriality (determined for a certain area) and the specifics of real estate (residential, commercial, houses, land plots, new buildings).

The lawyer is competent to draw up transactions and all related documentation. He is involved in concluding agreements for the provision of services, drafting contracts of purchase and sale, donation, exchange, rental, etc.

Provides consultation to realtors and clients, collects a package of documents for the transaction and represents in all institutions necessary for the type of activity.

Advice

At the initial stage, you can also not hire a lawyer and use the services of a law firm outsourced.

Accounting in a company can be outsourced or hired as an accountant.

Marketing plan

Before the start of the economic crisis, there were many small companies operating in the real estate market, which did not constitute serious competition to large Agencies, but brought some inconvenience in their work. From the end of 2014 to the beginning of 2020, most of these companies closed, freeing up this niche for large players. At the same time, the demand for real estate by individuals has decreased significantly due to a sharp drop in household incomes. On the other hand, reducing the number of competitors makes it possible for the successful implementation of the project.

However, according to experts, government support for mortgage and other housing lending programs gives reasonable hope for a “revival” of the real estate market and an increase in demand for the services of professional real estate agencies. The mortgage market, which began to decline in January-February 2020, began to gradually grow. At the beginning of the 2nd half of the year, according to Rosstat, more mortgage loans were issued in the country than in the entire 1st half of the year.

In the current crisis, opening a new company is much more difficult and risky due to the current instability in the secondary and primary housing market. In addition, it is difficult for a newly opened Agency that does not have a solid reputation as a major player to instill confidence in potential clients.

This situation creates the need to solve additional problems :

• Creating your own reputation practically from scratch
• Fighting for clients with competing large firms
• Determining the optimal strategy for action in an economic crisis
• Training inexperienced personnel to work with clients who were rejected by large agencies due to their dubious reputation, problems with documents, or other reasons.

But the newly opened company also has its advantages. For example, frequent requests from experienced clients who expect to receive the largest possible discount from a young company. Data on categories of clients - the main consumers of real estate agency services are presented in Table No. 3:

consumer categories2011201320142015

Possible risks can be minimized by carrying out the following activities aimed at creating a positive consumer opinion among clients who are participants in the real estate market:

• Regular advertising in local periodicals
• Advertising in specialized offline and online publications
• Taking regular part in social events
• Creating your own Internet resource

It is necessary to develop a system of rewarding staff for work done conscientiously, introducing non-standard solutions to pressing problems, and a creative approach to work. Separating the Agency from the segment of similar companies offering standard services will help attract more attention from new clients.

One of the most reliable marketing moves is creating the image of a company that has been successfully operating in the real estate market for a long time. When implementing this method, advertising in cheap or free publications should be eliminated and the quality of service delivery should be improved. It is necessary to establish contacts with companies providing security services and installing and servicing fire and security alarms in order to provide clients with their coordinates when concluding contracts.

Agency advertising

In a highly competitive environment, it is very important to develop competent advertising that understands ways to promote services that will be as effective as possible. After all, you can invest either 1,000,000 rubles or 100,000 rubles, and get the same effect. Here are just a few important points:

• Regular publications in thematic real estate magazines, work with journalists.
• Creating a high-quality website, with good articles and promotion in search engines. The budget for these purposes is at least 150 thousand rubles.
• Participation in seminars and conferences, conducting master classes.
• Building partnerships with banks (for mortgages) and government agencies (to speed up procedures for obtaining papers).
• Loyal attitude towards clients, willingness to meet in matters of payment and meeting schedules.
• Availability of discounts, promotions and bonus programs.
• Word of mouth. How our clients respond to us will be very important. One satisfied client can bring a dozen new ones.

4.Sales and marketing

Of course, you need to understand that there is very high competition among real estate agencies. In this regard, a significant amount of effort should be put into creating an effective advertising campaign. Along with this, you should approach this issue wisely and act rationally, trying to save money whenever possible.

Recommended business promotion channels:

1. Online catalogs of free advertisements

Obviously, this method of advertising allows you to get customers without any investment or effort. Of course, for this it is better to choose the most popular catalogs that will definitely allow you to reach your target audience.

2.Advertising on social networks

Here, again, everything is also very simple and, as a rule, free. You can create a community, invite your friends to it and start promoting. Naturally, you can make a separate user page with advertising.

3.Development and promotion of your own website

In this case, you will have to spend a little money, but the results should be good. After the site is ready, you can set up contextual advertising or SEO promotion for key queries.

Number of transactions in Kazan

Algorithm for a real estate agency

Before you open a real estate agency from scratch, you need to study all the nuances of their work. The list of services provided by such companies is very diverse. You can work in only one area or combine residential and commercial real estate and work in them.

You can also resell housing or find clients for renting out apartments and houses.

Transaction support

Typically, the activities of any agent are as follows:

1. Working with sellers - the agent prepares all the necessary documents, demonstrates the premises to everyone, handles paperwork and concludes the final deal.
2. Working with the buyer - the agent is looking for apartment options that would fit the criteria specified by the client. Afterwards, he checks the premises from the legal side to ensure that everything is legal, shows the apartment to the client and accompanies the conclusion of the transaction.

Provision of information services

A real estate agency business plan must contain an exact list of services that will be provided in the future. One of them is an information service that helps clients figure out how to sell or buy housing on their own.

For a certain cost, the agency can offer the client to look through the database of homes that are for sale in order to choose the right one for themselves.

A company based on the provision of premises for rent works in approximately the same way: they look for clients, show a base, and make a deal for 50% of the rent.

Creation of an international agency

Creating an international agency is not difficult, because on the Internet you can find various companies offering services abroad. Usually they are happy to cooperate; they will need to conclude an agreement and start a partnership.

But it is worth considering that there will be significantly fewer clients for such services, so such activities should be organized in addition to the main one.

Advertising and customer acquisition

The first thing you need to do is create your own website, where customers can find a lot of useful information:

• How to prepare your home for sale;
• Is it worth renovating an apartment in an old building to raise its price?
• How to get a home mortgage and more.

The best advertising for real estate agencies is a solid sign at the entrance, as well as various flyers and booklets. On average, this will cost 20 thousand rubles per month.

Financial plan

Below is a calculation of the main characteristics of the financial performance of a business.

Expenses spent by a real estate agency per month:

• Leasing services – 350 dollars.
• Salary – 251 dollars.
• Making contributions to the Pension Fund and the Federal Tax Service – $753.
• Marketing – 300 dollars.
• Transport – 200 dollars.
• Other costs – 400 dollars.

Cost structure of a real estate agency
Expected monthly income:

Planned profit

In the first year of a real estate agency firm's existence, you can earn up to $326. In the second year of activity, income will begin to grow, and accordingly, profit will increase to $2,000. With such prospects, the payback of the project will begin in 2-2.6 years of work. However, it is a profitable business.

Additional business points

The services of realtors are mainly required for property owners. Very rarely, agency agreements are concluded when searching for the necessary objects, both for purchase and for rent. Basically, the payer of the realtor's remuneration is the owner of the property.

Therefore, in order to provide the property owner with the service of finding a buyer or tenant, the head of the real estate agency must enter into an agreement with this owner.

We advise you not to work without concluding an agreement, as in this business they may “forget” to pay you a remuneration. No contract - no money.

Now there is a crisis on the street, so sometimes the owner says that he has given the property for sale to several agencies, and will enter into an agreement with the company that brings the buyer. This means we need to move faster, as they say, “He who gets up early, God gives him.”

But in the meantime, you should strive to conclude an exclusive contract for the sale of real estate. This means that the owner does not have the right to conduct independent advertising campaigns and cooperation with other agencies for his property, and only your agency will be able to sell or rent this property.

Therefore, the more such contracts an agency has, the more financially stable its position.

An important issue is the training of realtors and advanced training. Credit institutions, banks and the Russian or regional guild of realtors often conduct seminars on the topic of increasing sales in real estate. It is advisable to attend such events.

Useful tips

Beginners often wonder how to open a successful real estate agency? If you want your business to thrive, follow these simple guidelines:

• Company employees must listen carefully to each client and do everything to solve their problem;
• Experienced managers periodically send their employees to communication training, where they learn to conduct competent and correct dialogue. Such investments pay off handsomely;
• Each employee must promptly inform about problems in working with clients, the resolution of which may require intervention from the company’s management;
• Constantly update your real estate database. This is very important for efficient and high-quality work;
• Don't forget to give extra incentives to your employees. Pay them small bonuses periodically;
• Try to create a favorable, friendly atmosphere in the team.

By franchise

Franchising networks are well developed abroad, including in the real estate market. In our country, there are many small companies operating in this area that do not have their own brand. The domestic real estate business often relies on word of mouth, so a well-promoted brand is not of much importance in this matter.

If you have a decent start-up capital and have firmly decided that I want to open a real estate agency, decide for yourself whether you need to buy a franchise or not.

Advice

On the one hand, this is not such a complex business that is difficult to run on your own, but on the other hand, you will receive a ready-made company under the wing of a well-known brand.

Beginning entrepreneurs who are interested in how to create a real estate agency from scratch should immediately forget about the franchise.

Working alone

The profession of a realtor does not involve working in a team, since each specialist works with his client independently. The need for hired employees may arise if your business begins to expand and one person cannot serve all clients. This is especially true for entrepreneurs operating in large cities.

Is it worth opening a real estate agency? It is unlikely that anyone will give you a definite answer to this question. According to statistics, transactions worth millions of rubles are made every day in our country.

If you have the right acumen, you can earn 100–200 thousand rubles monthly.

At the moment, the real estate market is not stable, so you need to learn to survive in conditions of fierce competition.

Earning Features

To open a real estate business, you do not need a special license or certification.
This feature can be attributed to both advantages and disadvantages, since the simplicity of paperwork contributes to the emergence of numerous unprofessional companies that discredit reliable real estate agencies. Therefore, if you want to open a real estate agency as a business, be prepared for the fact that you will have to prove to clients that your company has nothing to do with fly-by-night projects, because it is serious about long-term and fruitful work. Many experienced professionals believe that the most important thing for a successful realtor is an extensive real estate database. If it is available, you can start developing a business plan for a real estate agency. Entrepreneurs who have not yet attracted clients to their business, after completing all the necessary documents, should first take care of this important matter. It makes no sense to buy a client base from another agency, since, as a rule, they offer outdated information that no one needs. In order to create your own database, you need to hire several smart employees who will work effectively in this direction. Warn them immediately about the confidentiality of the information received.