News and advice
Here’s the quickest way to save over $250,000 on business startup costs
Ever wondered the cost of opening your own real estate office? We’ve broken it down for you and even given you a comparison in regards to how it works with us.
It’s a common misconception that starting your own agency is hard. Don’t get us wrong, there’s a lot to consider and you definitely don’t want to cut corners, and you’ll want to know what you’re signing up for.
So we’ve broken down what’s required, the expected cost if you went it alone versus partnering with UrbanX.
Your branding and the way customers will perceive you in the market is probably one of the biggest pieces to the puzzle when launching your own brand. It needs to be unique, true to your values and represent you as an agent!
With this in mind, you want to ensure that you stay on brand across all of your collateral, including any online and print material.
Estimated cost of engaging a reputable branding agency including:
- Logo discovery and design
- Style Guide including fonts, brand pattern etc.
- Presentation folder
- Business cards
- Listing Kit
- Property Marketing:
- Signboards (3 variations)
- Brochure Templates
- A Frames
- Digital Suite:
- Social Media Templates
- Email Newsletter Templates
- REA/Domain Banners
Your marketing will be the difference between the market knowing that you’ve launched and them having no idea that you’ve even left the office.
Could you imagine your past clients getting in touch with your old office to find you? Do you think they would be transparent and let them know that you’re out on your own? I don’t think so, they need the leads too, right?
So the marketing piece is integral to making sure that your move has been made and that you are operating within your brand now. Having a professional guide you through this process and help with strategising your launch and keeping consistent across your marketing is critical.
Estimated Cost to engage a marketing agency including the below:
- Marketing strategy
- Google Ads
- Social Media Ads
- Traditional Marketing Advice
- Print Marketing and Design
Initial consult and setup: $6,000
Retainer: $12,000 – $24,000 per year
Your website is now your shop front in the digital age we live in. Having a professional and beautiful website that works and is engaging is key to your success! After all, where are you going to send people when engaging with them on any platform?
Cost of a website including the below:
- Website Design
- Website Development
- Integration with your CRM to automatically display listings, sold properties, rentals etc.
- Lead generation tools
Cost: $10,000 + ongoing support
So you’ve started your own office, but who is there to keep you on track and accountable for your everyday actions? You want a partner there to help you achieve your goals and be the best version of you in the biggest move of your career.
Business Manager or Advisors to help you keep on track: $60,000 – $100,000
Administration and Finance Team
What do you want to focus on when opening your office? The admin and paperwork, or prospecting and dollar productive activity?
Having a team that backs you in every stage of the property sale stage from listing through to settlement and beyond allows you to focus on what you’re best at and what brings in the dollars.
However, finding the right admin team member in itself is a tedious, time consuming and costly process. It will also take your attention away from what you do best, which is listing and selling properties.
Do you want the headache of managing a trust account and all the responsibility that comes with it? Do you think you’d trust your administration team to look after your trust account in addition to the other tasks that we’ve listed above? They would have to be a superstar in the Real Estate industry as an administrator with years of experience. Which comes at a cost.
Estimated cost – $100,000
Ready to manage the cost of all of your software including your CRM, email and website hosting, accounting software and forms? These smaller individual costs add up.
Not to mention the headache of organising the setup, maintenance and ensuring all systems talk to each other as they should. You’ll want to have a Real Estate specific CRM – which is the centre of all of your work as an office.
Real Costs of the below software:
- Real Estate CRM
- Corelogic RP Data
- Pocket by Rex
- REI Forms
- High-Speed website hosting
- Microsoft 365 including Outlook Email Hosting
- Secure Digital Server
Total Cost over 12 months: $24,000
Are you keeping track of all these costs? So far we are at a minimum of $274,000!
What’s the cost to get started with UrbanX? $0.
Zip. Zilch. Nothing. You get the gist…
Why? Because we only partner with the best agents, and it’s our investment into our partnership.
You pay nothing for the complete setup of your business and everything above is covered by us. Yet, you retain 100% ownership of your business. You don’t pay a cent until you start selling properties under your new brand that represents YOU.
Ready to really make a name for yourself? Build your own brand and partner with UrbanX today.
Enter your details below for a confidential discussion.