All Topics / Legal & Accounting / Where to Secure Real Estate Business Contracts?

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  • Profile photo of markporter001markporter001
    Join Date: 2006
    Post Count: 2

    Where to Secure Real Estate Business Contracts?

    Hi there,

    We want to start our own “Realty Business” but not as a Franchisee. Eventually, we intend to have our own Franchise Brand and further develop our business model as a Franchisor. However to start with, we would start with 2 offices and recruit Realty Agents to work under our own brand.

    Before we take the plunge, we would either have to get in touch with a few Franchising legal experts and also secure related contracts/documents in order to sign up with agents to work under our brand as well as for the Customers.

    Would it be a good idea to buy the following?

    101 Real Estate Contract & Legal Documents Software

    Can you suggest any other source where we can obtain the necessary contracts?


    Profile photo of RealEstateQueenRealEstateQueen
    Join Date: 2005
    Post Count: 69


    Check with your state version of the real estate institute. I know in my state to operate like this, you need to be a registered real estate agent, and you have to do these courses that if you do them at the real estate institute, in my state, costs close to ten grand. Just to fulfil the legal obligations. This is why not everyone can operate a real estate business. I believe the legal part of it is, to trade or to be seen trading in the business of real estate, you must be a regiestered real estate agent. This is just in SA, check with your relevant state.
    Again, to obtain business contracts, you need to be part of your REI, as this is where everyone else gets them from. That way, your customers know its legit.
    The real estate institute will give you all the info you need, and customers know the REI and if your a member, it is appears that you would be legit and ethical. Puts their minds at ease.
    Good luck with your venture, its hard starting a business from scratch![thumbsupanim]

    Profile photo of MichaelYardneyMichaelYardney
    Join Date: 2001
    Post Count: 616

    HI Mark

    Are you a licensed estate agent?

    As Audrey suggests this is a critical pre requisite. Have you worked in real estate before?

    If you are considering starting your own business (and good on you for doing that) have you thught of your point of difference? Why should someone use you rather than the established agencies. Why would an agent choose to work with or for you rather tahn an established office that has listings?

    Its a very, very competitivie market out there

    Michael Yardney
    Publisher of Australia’s leading property e-magazine.
    Join over 17,000 readers.
    FREE subscription

    Profile photo of markporter001markporter001
    Join Date: 2006
    Post Count: 2

    Hello Michael,

    I appreciate your response to my posting. I have seen your promotions on the Australian Property Magazine. I don’t live in Australia though.

    We want to start operations in a new market – South East Asia. The Real Estate in these countries still has a long way to go. The licensing of Realtors in these countries is not mandatory and they have a lot of catching up to do.

    As per my knowledge, Australia and NZ are the most transparent markets. Therefore I am keen to work through all the various contracts that are being used in these countries and see what works for our business and the market here.

    Lawyers in these countries work on very basic standard contracts and have no knowledge of preparing customized contracts. We would probably be the first Franchisor Company and before signing up with other realtors to work under our brand, we would surely need to safeguard our interests and limit our risks as a franchisor, when the leads are passed on to the agents working under our brand.

    We are also exploring an option where we only pass on leads to the agents and get paid once a deal take place. (Not under our brand) Again, we would need proper contracts in place for the same.

    Can you provide due assistance for a fee?

    Thanks for your valuable time.

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