Broker Project Kirsten Capps Pauline Hurst.  Commercial/Residential Brokerage  3-4 Commercial Brokers  3-4 Residential Brokers  1 Licensed Assistant.

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Presentation transcript:

Broker Project Kirsten Capps Pauline Hurst

 Commercial/Residential Brokerage  3-4 Commercial Brokers  3-4 Residential Brokers  1 Licensed Assistant (Receptionist)

 Pauline Hurst  Commercial Broker  President  Kirsten Capps  Residential Broker  Vice President

 Milwaukee Metropolitan  Population: 947,735 (2011)  Mean travel time to work: 21.5 minutes  Homeownership rate: 53.4%  Total Number of Firms: 58,182

 Commercial- Stabilizing  Over abundance of office space due to home offices  Residential- Revitalization  Sales are increasing monthly  New homes are under construction  More building permits are taken out

 Traditional Commission Sharing (50/50)  Residential (6%)  Commercial (7%)  Farm (10%)  Bonus commission after 80k in commissions

 LLC  Taxed as partnership  Owned by members  $100,000 invested by each partner

 Purchase 5,000 sq. ft office space- $200,000  Rent out 2,500 sq. ft. office space ($3,750)  Use 2,500 sq. ft.  Milwaukee, WI

 Initial Start-Up Costs  Office Equipment- $30,000  Licenses, Fees- $5,000  Insurance- $1,200 per month  Errors &Omissions, Workman's Comprehensive, General Liability  Initial Investments  Kirsten ($100,000)  Pauline ($100,000)

 Realtor code of ethics  Manual given to employee at employment  Contract must be signed before start date  Broker must carry adequate car insurance  Proof must be provided

 Customized Website  Signage at sites  Newspaper Ads  Bulk Mailings  MLS/ Costar/ Loopnet/ Excellegent

 Online, Craigslist, Milwaukeejobs.com  Newspaper- Milwaukee Journal Sentinel

 Employees will be hired with previous experience and given the opportunity to complete 2 closings with broker  All docs reviewed by Broker  Monthly meetings to assess current deals and future goals

 Review Contracts  Verify licenses  Follow regulatory statutes  Quarterly reviews with goals

 All Necessary Insurance  Attorney  Accountant