Are you interested in building a recession proof real estate business? Who isn’t right!
Even though the economy is in a recession, the reality is that the real estate market can join the economy at any time and head into a recession.
The good news is that Realtors® everywhere can build a recession proof real estate business by following these tips.
Tip #1 – Enhance Your Digital Marketing
Digital marketing is essential in today’s world because it’s how buyers and sellers find real estate agents.
If you currently have an online presence, but it’s just your brokers website, you should invest in your own real estate website then commit to blogging and promoting your ‘brand’ online.
As your digital marketing efforts grow, your goal should be to grow a real estate list but that doesn’t mean you should ignore your past clients.
You should make a commitment to follow up with your previous clients at least every 90 days so that your name is always on the top of their mind.
This helps with generating referrals because a previous client may want to refer you to their friend family member that’s thinking of buying or selling a home.
Tip #2 – Diversify Your Real Estate Activities
With 2021 around the corner, some Realtors® are thinking that it’s going to be a year that will affect real estate.
Instead of getting caught in the recession, focus on diversifying your real estate activities now by focusing on things like property tax appeals, create a renter-to-homeowner program, focus on REO’s and consider more options for generating leads including:
- Hosting a client appreciate event
- Sending thank you gifts to your clients offices
- Invest in passive marketing
- Create an eBook
Tip #3 – Hire A Designated Broker To Build A Real Estate Business
If you want to build a real estate business, but you don’t want to go the ‘slow route’, hiring a designated broker is the way to go!
With a designated broker, we can help you build your real estate business fast. This includes hiring agents and paying commissions!
Your Texas Broker Sponsor of Record monthly fees will not start until your company is fully licensed.
Texas Broker Sponsorship for your company as a real estate Broker and first licensed agent.
Texas Broker Sponsorship for your company as a real estate broker and up to five (2-5) agents.
Your Broker Sponsor will match the price of any other Designated Broker.
It is important to be conscious of startup costs as you prepare to begin your journey with Your Broker Sponsor. Start-up cost estimates for Real Estate Broker Sponsorships in Texas are below. These start-up costs are sourced from various governmental and private entities, as such prices are subject to change. Start-up costs will be less if you already have an LLC or Corporation with or without a broker’s license.
One-Time Initial Start Up Cost for the State of Texas
|-0-||Fee to set up your LLC from the Department of State ($99 from Legal Zoom)|
|$306||State filing fee for new Texas LLC|
|$650||E&O Insurance for Your LLC (Varies by Provider)|
|$325||Application for Broker License by a Business Entity in Texas|
|-Varied-||Join an Association of Realtors (if you are not already a member)|
|-Varied-||Open an MLS office account and personal MLS account (if you don’t already have one)|
|$1281+||Total Initial Costs (probably less than one commission split with your current broker)|
Learn more about our Texas Broker Sponsor Of Record services by clicking here!
Contact Your Broker Sponsor
For more information about the services that we can offer you, contact us today by calling (512) 200-5853 or click here to connect with us online.