What are the steps to opening one's own Real estate brokerage?

Question

I'm a licensed California real estate broker. I know about the licensing, the MLS and the associations I must join to hang my own shingle. What are the steps that I don't understand?

Answer 1

I was in the same boat as you. You first need to create a corporation. My research indicated that I needed to create an S-Corp for the type of business I was going to do. Also, don't incorporate in Nevada or Delaware, instead, do it in California. Once your corporation is set up (including your TIN number), you need to get your corporation licensed by the DRE and move your license under the corporation as the officer. Then open a business account at your local bank. Then you decide if you want to do loans, sell real estate or both. Once you decided what you want to do, you then get E&O insurance. If you want to loans, you need to bring aboard lenders. If you want to buy and sell properties, you don't need to do anything. This whole thing should cost you 3-4k in set-up cost. E-mail me if you need any info or if you're in my area of southern california, we can work something out.

Regards

Answer 2

There are lots of web pages in this matter. Yes step one is getting your Real Estate license. Yes Real Estate Agents are frequently paid on a fee handiest groundwork. You could make subsequent to not anything, or many tens of enormous quantities relying in your force, salesmanship, and capacity to generate referrals. I googled "Real Estate Salesman" and received the beneath.......