Opening a Business
First, you must hold a Massachusetts Real Estate Broker’s License in order to be a principal in a real estate firm in Massachusetts. Starting a business can sometimes seem like an uphill climb. You must plan each step before you take it. Once a business plan is developed, you must consider more than production, marketing, and accounting. You must also consider the legal environment and government regulation of business and the related forms necessary to comply with regulation.
This is just a guideline and is not a substitute for the professional advice of your attorney, accountant, insurance agent or business manager / coach. It is simply a mechanism to help you to start thinking of the many facets that go into opening a successful real estate business in our region.
There are many links to more information for your convenience, and we have tried to organize it to be an effective planning tool. Other wonderful resources are the Small Business Administration’s Starting a Business Guide and Start-up Nations 10 Steps to Business.
Get Ready – Research Stage
- Thoroughly research the real estate market – View trends and economic forecasts to help determine business feasibility. To be successful, you must have a clear understanding of the market, your competitors and your strengths in order to figure out what areas you should target, what skills you should market, and if there are resources that would help you penetrate that market better. This research will allow you to learn how to compete successfully and meet your financial objectives.