Barbara Brooks is a newly-licensed real estate agent in Malibu, California. Barbara’s focus of real estate will be centered around Malibu and its surrounding communities. Since obtaining her real estate license last year, Barbara has been shadowing another local real estate agent for training purposes and to learn the proper procedures required to follow. Barbara will be sponsored by Century 21 but will open her own office space to commence her real estate business.
Barbara realizes the highly competitive nature of the real estate industry and is prepared to dedicate all her time, energy, and focus to make her business successful and eventually represent exclusively luxury properties and clients. Barbara’s initial focus will be on first-time home buyers and condo/townhome buyers and sellers.
The following are the services that Barbara Brooks, Real Estate Agent, will provide:
- Buyer’s agent
- Seller’s agent
- First time home buyer
- Foreclosed properties
- Luxury properties
- New construction
- Property management
Barbara Brooks, Real Estate Agent, will target those residents residing within Malibu to become her clients. Barbara’s goal is to eventually represent luxury properties and wealthy clients exclusively, but she is aware that she will need to increase her realtor reputation first by increased experience in the field. For now, Barbara will start small with first time home buyers and low to middle income properties, sellers, and buyers.
Barbara will be the sole manager and operator of her business. Barbara has chosen to be contracted under Century 21, and will open her own office for her real estate operation. Barbara will be managing her office, network with clients and other industry professionals, and market herself exclusively for now. When her business is more established, Barbara will employ an office manager who will perform the daily administrative tasks that will be required.
Barbara Brooks, Real Estate Agent, will be able to achieve success by offering the following competitive advantages:
- Friendly and knowledgeable real estate professional with exceptional customer service skills and as a native resident of Malibu, she is extremely knowledgeable of the local real estate market.
- Barbara has become adept at compiling market reports for her clients and local comp reports regarding a specific property.
- Barbara has an extensive network of clients, agents, title officers, appraisers, and mortgage loan officers.
- Her ability to hustle and work until the client is satisfied is unmatched in the real estate network.
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Barbara Brooks, Real Estate Agent, is seeking $50,000 in debt financing to launch her real estate business. The funding will be dedicated towards securing a small office space, purchasing office equipment, and funding the marketing company for advertising costs. Funding will also be dedicated towards the third-party CPA that Barbara will contract with for accounting and tax requirements. The breakout of the funding is below:
- Office Lease Up-front Cost: $10,000
- Office equipment: $10,000
- Advertising agency in charge of promotions: $10,000
- Three months of CPA costs: $15,000
- Working capital: $5,000
The following graph outlines the pro forma financial projections for Barbara Brooks, Real Estate Agent: