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: $1,517
- The maximum startup costs for a real estate business: $28,419
- The average startup costs for a real estate business: $14,968
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 | Min Startup Costs | Max Startup Costs |
|---|---|---|
| Small Business Insurance | $500 | $2,000 |
| Permit and License Fees | $50 | $700 |
| Lawyer Fees | $0 | $1,500 |
| Set up business: LLC & Corporations | $50 | $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 | Min Startup Costs | Max Startup Costs |
|---|---|---|
| Design Programs & Software | $0 | $50 |
| Email marketing tool | $0 | $100 |
| IT Support ➜ | $150 | $2,000 |
| Accounting & Invoicing Software | $0 | $50 |
| CRM Software ➜ | $0 | $250 |
| Project Management Software | $0 | $25 |
| Internal Communication Tool | $0 | $20 |
| Social Media Management Tools | $0 | $50 |
| Online data storage | $0 | $299 |
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 | Min Startup Costs | Max Startup Costs |
|---|---|---|
| Rent | $0 | $2,000 |
| Utility Costs (office space) | $0 | $150 |
| Office Supplies | $25 | $1,000 |
| WiFi | $10 | $100 |
Employee & Freelancer Expenses
| Cost | Min Startup Costs | Max Startup Costs |
|---|---|---|
| Payroll | $0 | $4,000 |
Equipment & Supply Expenses
Starting a real estate business may require purchasing some equipment, whether that's for producing the product or packaging the goods, or equipment needed in the back office.
| Cost | Min Startup Costs | Max Startup Costs |
|---|---|---|
| Technology Office Equipment | $500 | $5,000 |
Website Costs
Every business should have a website, and it's worth spending a bit of money to set it up right.
| Cost | Min Startup Costs | Max Startup Costs |
|---|---|---|
| Website builder | $15 | $100 |
| Web Design ➜ | $200 | $6,000 |
| A Domain Name ➜ | $12 | $200 |
| Email hosting | $5 | $75 |
| Server Hosting | $0 | $50 |
Advertising & Marketing Costs
| Cost | Min Startup Costs | Max Startup Costs |
|---|---|---|
| Business Cards | $0 | $50 |
| Networking Membership Fees | $0 | $250 |
| Direct Campaigns, Printing and Mailing | $0 | $300 |
| Press | $0 | $500 |
| Google Ads | $0 | $300 |
Other Expenses
| Cost | Min Startup Costs | Max Startup Costs |
|---|---|---|
| Credit Card Processing Fees | $0 | $300 |
| Time! | $0 | $500 |
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