Steps and costs to start a Real Estate Brokerage?

[An Duong]

Hi Bigger Pockets Community,

I'm a licensed MA broke. I've been a licensed RE sales person since 2004 and I am now a licensed attorney so I have my broker's licenses as a result. I am wondering what are the steps, process and cost to open a brokerage. I know I should start an LLC which will cost somewhere north of $500. What else would I need and what are the costs?

Thanks!!!

[Greg K.]

Hi An, 

I just started my brokerage this year and it cost me $3600 for the basics.  I'm an attorney broker as well.  Its a side hustle for me so my primary residence is my office and I've put sweat equity into building my website .    Some of these expenses might be lower if you are a Realtor but I've started from scratch so these are the prices I paid.  

Here is the breakdown:

$500 LLC

$100 salesperson bond and broker bond

$450 salesperson and broker application fees

$450 ZipForms

$500 MLS ($125 billed quarterly)

$300 BiggerPockets

$1200 liability insurance

$50 website and e-mail with Bluehost/Wordpress

$50 logo design on Fivver