How to start a Real Estate Agency

How to open a real estate agency

Here's how to open a real estate agency

Opening a real estate agency is a big step for those who, young or old, want to pursue a career and start their own business. The basics are definitely 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 experience in the field, 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 you are supported by the experience of a group, to minimize risks and unforeseen events.

It is not possible to open a real estate agency without a license. To obtain the license, you must complete a course of approximately 200 hours at the Chamber of Commerce, followed by an oral and written exam. For more details, 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 opening your real estate agency:

• Open a VAT number
• Set up the individual position or company under which you will carry out the activity
• Register with the local Chamber of Commerce as a real estate agent
• Request the SCIA (Certified Notice of Commencement of Activity) from the relevant municipality
• Open an INPS account
• Find the right premises and choose the area in which to operate
• Asking experts in the field 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 to display listings
• Size between 40-60 square meters
• Space to welcome customers and an operational area for daily activities
• A good management system where you can store and consult all data relating to your customers and properties
• Basic office furniture (desks, chairs, PCs).

In the initial phase, you will certainly need a massive marketing campaign targeted at your area of expertise. So take this expense into account and focus on flyers, local press, radio, and the web to make yourself known to your future customers. TV commercials are also recommended, but it all depends on your budget. Remember that advertising is a fundamental component of your success, so it must be ongoing.

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

Should you open your own agency or join a franchise?

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

You will need to hire any support staff and consider a higher investment than expected.

It is a complicated process that can certainly be tackled alone, so if you do not feel fully prepared to make such an investment, contact a real estate group. Looking at the European and American markets, the future of the real estate sector lies in mergers and large companies.

There are many advantages to opening a franchise. For example, with Gruppo Toscano, we offer:

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

Being part of a group has many economic advantages related to the business, allowing you to interact with a large number of professionals and ask for support in times of difficulty. Being part of a group also means never feeling alone, expanding your network, and sharing work experiences, for a constant path of growth that can only benefit the business you intend to undertake.

If you would like to find out more about our franchise, please visit us by clicking on the franchising section of our website.