EXIT Realty offers guidance for people considering real estate professional start-ups
Since January 2021, nearly 4 million Americans have quit their job every month, a trend of people seeking better personal and professional rewards called “Great Resignation.” The flexibility and rewards of careers in real estate have made the field a top destination for those workers– but EXIT Realty, a pioneer in work-life balance, says potential real estate agents need to carefully consider the landscape first.
“Working in real estate can allow you to reinvent your life and to feel the rewards of helping not just yourself but your clients,” said Tami Bonnell, Co-Chair of EXIT Realty Corp. International. “However, you really need to look at the ecosystem of the field and what firms can do to help you succeed.”
Launching your own business, either as a real estate agent or the owner of an independent firm or a franchise, provides workers with the most control over their lives. Both require the potential real estate professional to make important choices.
Start-up costs. Starting any business requires a significant capital investment. If you want to simply be an agent, you need to pursue the required education in your state or province, pay for and take the qualifying exam, and pay fees to register with a broker.
While being an agent itself is rewarding, many people seeking true independence and greater financial results will want to open their own real estate business. That means either opening an independent business or acquiring a franchise of an established real estate firm.
Operational challenges
An independent real estate brokerage may have lesser costs than purchasing a franchise. However, independents need to buy or develop everything from scratch– from marketing materials to transaction management software to websites and social media– which takes both time and money and amounts to a “hidden” capital cost. Franchises provide proven systems upfront and allow you to start doing the daily work of real estate on Day One.
Once a real estate business is running successfully, the owner will likely need to bring on administrative help and additional agents. That means spending money on developing recruitment, incentives, processing and training. Franchises will be able to draw on the parent company for some or most of the materials and policies, and may be able to tap into the parent’s recruitment network.
Why Join EXIT Realty?
For real estate agents, a partnership with EXIT Realty helps address many of those start-up concerns. The benefits include marketing and social media tools, access to leads, customizable websites, and geolocation technology to help you grow your real estate business. EXIT Realty also provides real estate professionals with MIND-SET training. Taught by industry leaders, this program for rookies and veterans alike covers topics such as strategic planning and sales negotiation tactics.
Unique in the real estate industry, EXIT Realty’s residual income formula affords brokers and agents additional earnings opportunities through introducing other agents to the company. With women still earning on average 82% of what men earn, this is another way for women in real estate to boost their profit potential through a secondary, single-level revenue stream. For many, this program is also a way to give back to the industry by helping and mentoring other real estate professionals.
“EXIT lets you be in business for yourself but not by yourself,” Bonnell said. “We empower people to not only become better business people and build wealth, but also to live life on their terms, make a great living and positively impact others. It’s the perfect solution for people who want something better.”
Taking the Next Step
Once you’re ready to make the jump to entrepreneurship as a real estate agent or broker, the next step is deciding whether to form an independent brokerage or own a franchise. To learn more about how EXIT Realty can help, visit https://joinexitrealty.com/ For additional information, including the latest news about EXIT Realty and its innovative residual income approach, visit the company’s media room.
