The most important aspect for a new business owner in the real estate sector is to build relations with not only the other brokers but also with potential customers. You may not be able to get the same attention as Bob who operates just a few blocks away, but you could surely get yourself established overtime by building relations and gaining their trust. A good businessman needs to be a good sales person too, this means that you need to engage with your customers personally and give them service which exceeds their expectations and gives them greater value for their money. You should be willing to listen to your customers and try to address their concerns and provide solutions in order to gain their respect and trust.
It is a known fact that initially when starting a real estate company, you do not need an extravagant amount on money, however once your business plans are laid out you can approach different lending companies and present your vision in order to secure the needed finance for your business. Unless you are well settled in terms of financing, you should be tailoring your business plan in such a way that it would attract prospective investors to work with you. Companies such as Four Eleven King Condos and so many others have established their fair share in the Real Estate market by proving themselves to be customer centric and focusing on providing excellent customer service.
Another important thing to consider is your location. Which city or state do you feel would be ideal for you to establish yourself? Will you be commuting to your workplace ona daily bases? Would you be relocating your home to the new place? How would the added expenses be covered? These are all relevant questions and ideas that should be part of your planning cycle when you are still in the initial phase.