The Ins and Outs of Owning an Agency

Hello all!

I am very exited at the prospect of starting a real estate agency in Victoria. but before I get too deep I would love to hear the experiences from other agency owners or perhaps those who have owned agency's in the past.
what are the good bits and what are some of the not so enjoyable parts?
maybe what are the major stressors?
what sort of revenue do you bring in?
what sort of profit margins?
what do you find are the main expenses?
any of these questions you can answer and any pearls of wisdom I could not thank you enough for!
thanks heaps if you can take the time!

 

Do you have the necessary qualifications ?

 

I don't have any qualifications yet but both my mum and dad have had experience in real estate and that sort of stated my down this path. now obviously I've spoken to them about this and I have a pretty good idea of the path I need to take in terms of qualifications and minimum experiance and all that, but I am just looing for more input, perspective and information from those who have actually handled the business before.

 

How are your parents involved in real estate?

 

Starting an agency from scratch is hard work and you absolutely need EXPERIENCE, qualifications, understanding of legislation, funds and persistence. And be good at what you do.

Go work for an agency, get your qualifications, then decide if its what you want to do after a few years.