Starting your own business is a big step for your career, but it’s also a risk. In order to ensure that your real estate business thrives, it’s important to ask yourself some tough questions.

These are some of the essential questions to ask when owning your own business:

  • How much will this cost you? You need to figure out how much money you’ll have to spend before you start making money. This question helps you determine how affordable your business is.
  • Are your numbers realistic? How many homes do you think you’ll be able to sell each quarter? While it’s good to challenge yourself, don’t aim too high or you’ll be dealing with unrealistic goals.
  • Is your timeframe reasonable? With everything you need to do in order to launch your real estate business, will you be all set by your planned opening date? Don’t be afraid to push back this date if you need more time to get everything in order.
  • How strong is your belief in your business? Whether you’re focusing on helping home buyers find single-family homes or catering to those who want a vacation condo or house, it’s crucial to believe in what you’re doing.
  • Do you have a strong support network? Will other members of your team help your company achieve its goals? Is their level of commitment as strong as yours?
  • What if your business doesn’t succeed? This is one of the hardest questions to ask when owning your own business, but it’s a necessary one. What will you do if your real estate business doesn’t take off as you’d hoped? Do you have a financial backup plan?

Join a real estate franchise that will help your business thrive. Visit ERA Real Estate and our Facebook page.

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