How to Open a Real Estate Agency

Here is how to open a real estate agency

Opening a real estate agency represents a major step for those who, whether young or not so young, want to build a career and start their own business. The foundations to start from are certainly having experience in the market and being qualified to work as a real estate agent.

Anyone who wants to open a real estate agency should gain field experience, perhaps starting as an agent and experiencing firsthand what it means to manage a real estate agency. Choosing this type of business without experience makes sense if supported by the experience of a group, in order to minimize risks and unexpected issues.

Opening a real estate agency without a license is not possible. To obtain the qualification, it is necessary to attend a course of approximately 200 hours at the Chamber of Commerce, followed by an oral and written exam. For more details, also read How to Become a Real Estate Agent. Courses are held 3–4 times a year throughout Italy.

What to do before opening a real estate agency

Let’s now move on to the steps that will lead you to open your real estate agency:

• Open a VAT number
• Establish the individual position or the company under which you will carry out the business
• Register with the local Chamber of Commerce as a real estate agent
• Request the SCIA (Certified Notification of Start of Business Activity) from the competent Municipality
• Open the INPS position
• Find the right premises and choose the area in which to operate
• Asking industry experts for more information can certainly simplify the bureaucratic process and avoid inconveniences.

The perfect premises for a real estate agency

Choosing the right premises is essential, so what characteristics should your new agency have?

• Ground floor and visibility
• One or more street-facing windows where listings can be displayed
• Size between 40–60 sqm
• Space for welcoming clients and an operational area for daily activities
• A good management software where you can store and consult all data related to your clients and properties
• Essential office furniture (desks, chairs, PCs).

In the initial phase, you will certainly need a large-scale marketing activity targeted to your area of competence. Therefore, take this expense into consideration and focus on leaflet distribution, local press, radio, and the Web to make yourself known to your future clients. TV spots are also suitable, but it all depends on the budget you have available. Remember that the advertising activity is a fundamental component of your success, so it must be continuous.

The choice of area could strongly influence your real estate business. A predominantly tourist area could lead you to manage short-term rentals, while proximity to a construction site could require agreements with the works management team in order to acquire the sale of the properties under construction.

Opening an agency on your own or with a franchise?

If you are thinking of opening an individual agency, you will need to consider, within your working week, the time to devote to all the administrative, advertising, and bureaucratic matters we have discussed so far. Also keep in mind the importance of training for you and your employees. It is essential to stay constantly updated on new regulations, on the tax and legal aspects concerning the real estate agent profession, such as privacy regulations, new anti-money laundering rules, and the new basic forms required by consumer law.

You will have to take care of hiring any support figures and consider an investment higher than expected.

It is a complicated path that can certainly be faced alone, so if you do not feel fully prepared to face such an investment, turn to a real estate group. Looking also at the European and American markets, the future of the real estate sector lies precisely in aggregations and large organizations.

The advantages of opening with a franchise are numerous; for example, with Gruppo Toscano we offer:

• a popular and nationally recognized brand that facilitates contact with clients
• Field experience, through a directly owned network company
• Internal training before opening for the agency owner or owners
• Constant training for the real estate agents of all agencies
• Management of TV, online, and offline advertising campaigns
• Access to a unique company platform built around our working method
• A large client portfolio
• Training and support in managing administrative and bureaucratic procedures from the management team

Being part of a Group has many economic advantages linked to the business, while also allowing you to exchange views with a large number of professionals and ask for support in difficult moments. Being part of a Group also means never feeling alone, expanding your network, and sharing work experiences, for a constant growth path that can only benefit the business you intend to undertake.

If you want to learn more about the details of our franchising, come visit us by clicking on the franchising section of our website.