What is the first things I should think of when starting a brokerage? Especially with regard to what computer / MLS systems are necessary? Anyone know the technical programs or services necessary for my agents I am recruiting? I own some pretty amazing real estate domain names for its web site. I am an attorney as well.

Thanks

nice! and that is just to start!

Thanks for that, as closing attorney I have experience, but am young to both professions. I appreciate the information!

I have a law firm a real estate law firm in the hamptons and alot of environmental and attorney friends willing to assist this. I am lacking on real estate sales or marketing experience. I have very good domain names for hamptons real estate in my portfolio. The law firm means conference rooms available. I want to do only high end or waterfront - there are so many general firm out here. I need a partner and would prefer virtual office primarily with all office machines available in the conference buildings. Several Office spaces available for agents in outlying office complexes. I also have a new construction luxury condominium complex on for the signing if I can create this brokerage

who cares about domain names. Get a solid business plan in place and be prepared for lots of competition. your experience, or lack there of, will be a big factor though. Good luck

i had two business plans but I hear so much diffrence on commission splits and plans that I dont think either is right

I also want to start an isurance brokerage and an accountant firm and a private detective service

I just dont know what one to start first maybe I should get my law degree finished first I can then take the broker test and then will finally move to the hamptons and be a broker with all that I have learned here

I am an atty paralegal now

I am in hampton mass but stay there in the hamptons with friends and they are environmental

Tell me what I need to know to start becomming a broker like how to get the liscense

cuz I want to be a broker atty in the hamptons word

Ok... lots going on here. Let me try and lay it out. But please keep in mind that what I am about to say pertains to California. You will have to check to see if the same goes for New York.

1- Getting the license. If you have passed the bar in your state, you may be done. Here in California, once you have passed the bar exam you can be a real estate broker.

2- Getting setup should be relatively easy. As with most businesses, starting is easy, staying is harder. You first want to create an form of organization (IE: Incorporate, LLC, etc.)

3. Check with your department of real estate for info on what hoops (IE:Paperwork) you have to jump through to establish a brokerage in your state. Out here, it can be as simple as a couple of forms.

4. Errors and Omissions insurance. This is huge. Do not do a single pennies worth of business until you have this arranged and confirmed in writing.

5. MLS access. If your system is anything like ours, you get a membership in the MLS as a broker and then your agents each get their own access as part of their involvment with the local association of realtors. As the broker, and assuming your going to have a brick and mortar office, you will need to create desk setups with computers that can access the internet to search the MLS.

From what I have read, I would not jump right into having your own office. At least, that would be my advice unless you already have a ready supply of clients to just work for yourself for a while. Even then, I would think twice.

It sounds like you need a little "seasoning" in the business. So here is what I would suggest.

Get the best split deal you can at an established office that offers good training. Gain all the experience you can. While you are doing this, be doing all the other things you need to get your own brokerage going. Just hold off on the paperwork to the department of real estate until your ready to leave the other real estate firm and open your own doors. This way, you can get to know other agents, get to know the practical reality of doing business in your area and accumulate contacts that you can use in the future. Once you have gotten a level of training that makes you comfortable, let your broker know you are leaving and send off that paperwork to the department of real estate and start your own office.

Remember that as the broker, your agents expect to be able to get answers from you when they need them. If you don't have any real practical experience doing what they are doing, your not going to be well equipped to fullfill your duties.

R