How Much Does It Cost To Start A Real Estate Business? (In 2023)

How Much Does It Cost To Start A Real Estate Business? (In 2023)
Start A Real Estate Business

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:

Learn more about starting a real estate business:

Where to start?

-> How to start a real estate business?
-> Real estate business plan
-> How to finance a real estate business?
-> Pros and cons of a real estate business
-> How to get clients for a real estate business?

Need inspiration?

-> Other real estate business success stories
-> Examples of established real estate business
-> Marketing ideas for a real estate business
-> Real estate business slogans
-> Real estate business names
-> Real estate business Instagram bios
-> Real estate business Instagram captions

Other resources

-> Profitability of a real estate business
-> Real estate business tips
-> Email templates for a real estate business
-> Blog post ideas for a real estate business
-> Real estate business quotes

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

Pat Walls,  Founder of Starter Story
Want to find more ideas that make money?

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