How Much Does It Cost To Start A Real Estate Business?
Startup Costs
Wondering how much it costs to start a real estate business?
- The minimum startup costs for a real estate business: $62
- The maximum startup costs for a real estate business: $23,259
- The average startup costs for a real estate business: $12,272
Here's a detailed list of a real estate business startup costs:
Business Formation Fees
There are a few key costs associated with forming your business entity, such as setting up an LLC and getting trademarks, copyrights, and patents sorted.
| Cost | Required? | Min Cost | Max Cost |
|---|---|---|---|
| Set up business: LLC & Corporations | Required | $50 | $500 |
| Small Business Insurance | Recommended | $500 | $2,000 |
| Permit and License Fees | Optional | $50 | $700 |
| Lawyer Fees | Optional | $0 | $1,500 |
Software Expenses
Your real estate business needs software to run efficiently!
Why spend money on software? Because it can help you save time and automate certain parts of the business, so you can focus on the most important matters. Software and technology can help you grow your business, and save you from expensive personnel costs.
| Cost | Required? | Min Cost | Max Cost |
|---|---|---|---|
| File Hosting Service | Recommended | $0 | $299 |
| Email marketing tool | Recommended | $0 | $100 |
| CRM Software ➜ | Recommended | $12 | $300 |
| Project Management Software | Recommended | $0 | $25 |
| Internal Communication Tool | Recommended | $0 | $20 |
| Accounting & Invoicing Software | Recommended | $0 | $50 |
| IT Support ➜ | Optional | $150 | $2,000 |
| Social Media Management Tools | Optional | $0 | $50 |
| Design Programs & Software | Optional | $0 | $50 |
Office Space Expenses
It will be your call to determine if you need office space. It is not a requirement but may be necessary as your real estate business grows.
| Cost | Required? | Min Cost | Max Cost |
|---|---|---|---|
| Rent ➜ | Optional | $0 | $5,750 |
| Utility Costs For Office Space ➜ | Optional | $0 | $1,150 |
| WiFi & Internet ➜ | Optional | $0 | $100 |
Employee & Freelancer Expenses
| Cost | Required? | Min Cost | Max Cost |
|---|---|---|---|
| Payroll Costs & Fees ➜ | Optional | $150 | $250 |
Website Costs
Every business should have a website, and it's worth spending a bit of money to set it up right.
| Cost | Required? | Min Cost | Max Cost |
|---|---|---|---|
| Domain Name ➜ | Required | $12 | $200 |
| Website Hosting Costs ➜ | Required | $0 | $300 |
| Website Builder ➜ | Recommended | $10 | $500 |
| Business Email Hosting Service ➜ | Recommended | $1 | $15 |
| Web Designer ➜ | Optional | $200 | $6,000 |
Advertising & Marketing Costs
| Cost | Required? | Min Cost | Max Cost |
|---|---|---|---|
| Business Cards ➜ | Optional | $0 | $50 |
| Networking Membership Fees | Optional | $0 | $250 |
| Direct Campaigns, Printing and Mailing | Optional | $0 | $300 |
| Press | Optional | $0 | $500 |
| Google Ads | Optional | $0 | $300 |
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