Even in tough market real estate business can be very rewarding. If you currently hold a license in real estate then you can use this to set up and operate a very successful home business. There are, however, other options when it comes to operating a real estate business from home. Many home business owners have found real estate investing to be very lucrative. If you do not have a real estate license and are not planning to acquire one then you can simply learn the ways and methods of investing in real estate instead.
Real estate investing takes money, however to begin. You must have the funds available to you for your real estate purchases. If overhead capital is a problem but you still really feel that you can be successful in the real estate world then you should consider starting out as an agent and working your way into investing once you begin to see a significant income coming in. Real estate licensing requirements are similar in all areas with just a few minor differences for most. You must study a specific course in order to apply for real estate testing which, if you pass, will grant you a license to practice real estate principles. The licensing fees and course tuition can be fairly costly in some areas. Typically you can plan on spending a few hundred dollars just to receive your license. If you already have a real estate license then you are virtually already in business.
Many states require an agent to hold an affiliate broker’s license for at least 2 to 4 years before branching out on their own and opening their own brokerage. You can still operate the largest portion of your real estate office from home however. You simply need to set up a home office and ensure that you have access to the MLS (multiple listing service) to help your clients find the homes that they want. If you already have a home office set up then you are well on your way to operating your real estate business from home. After working with a specific brokerage for just a couple of years you can apply for a broker’s license and fully operate your real estate business from your home office.
You can have a second telephone line installed to handle calls from clients. You may also want to make your office accessible from the outside of your home, particularly if you do not want clients walking through your home when they come in for consultations. As far as home business costs go, if you already have a license for real estate and have a home office with phone, fax, computer, printer and other necessary equipment and supplies you are virtually ready for your home business setup.
Your office will need adequate space for clients to sit and browse through the listings that you have available. You will also need to ensure that you have ample filing and organization available to keep accurate and up to date records. Be sure to save receipts for anything that you purchase such as office furniture, software programs and other supplies to be deducted from your business taxes at the end of the year.