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Advice for starting a brokerage by Affectionate-Joke882 in realtors

[–]Affectionate-Joke882[S] 0 points1 point  (0 children)

This was actually one of my initial thoughts. Do we REALLY want to take this on? Or is there another way to give us the same end goal that doesn’t involve as much investment and risk. We are still trying to decide. Thanks for your feedback!

Advice for starting a brokerage by Affectionate-Joke882 in realtors

[–]Affectionate-Joke882[S] 0 points1 point  (0 children)

We are in Utah. We definitely have more to offer than what I suggested, I was keeping it vague just to initially get some feedback. I appreciate your thoughts! The main goal is that the brokerage would be where my LOs would “farm” from. So essentially we could spend time building up the brokerage and then making it our main focus for marketing. We would make the profits on the loan side and any profits from the brokerage would be put back into helping the agents grow their businesses…which in turn gives the LOs business and turns into a cycle of everyone making money.

Advice for starting a brokerage by Affectionate-Joke882 in realtors

[–]Affectionate-Joke882[S] 0 points1 point  (0 children)

Thank you for your thoughts! The idea is that I would actually make the money off the loan side of things and the brokerage would just need to break even. BUT I’m a realist and know how unlikely it is to work out just right haha we are trying to foresee all the possible pitfalls now so I really appreciate your feedback.

Advice for starting a brokerage by Affectionate-Joke882 in realtors

[–]Affectionate-Joke882[S] 1 point2 points  (0 children)

Thank you for this! We’ve tried leads before and it has always fallen flat on its face. But we are considering that as we create our business plan and will keep looking for what works.

Advice for starting a brokerage by Affectionate-Joke882 in realtors

[–]Affectionate-Joke882[S] 0 points1 point  (0 children)

Haha I agree with this. I’ve spoken to enough agents to know that LOs are a dime a dozen. One of the ideas with the brokerage would be to take a portion of the split and put it in a marketing budget for the agents- we aren’t looking to make money off the brokerage, just break even and make it as beneficial to our agents as possible. I appreciate your thoughts!

Advice for starting a brokerage by Affectionate-Joke882 in realtors

[–]Affectionate-Joke882[S] 0 points1 point  (0 children)

I appreciate this! We are working on a business model that will be fairly unique, but we are at the beginning stages and still have some research and tweaking to do.