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Mar 20, 2024

How to Become a Self-Employed Estate Agent

Do you want more from your estate agent career? In the UK, self-employed estate agents are soaring in popularity. People want more from their career in the property industry, including a better work-life balance and higher commission. What is a Self-Employed Estate Agent? Self-employed estate agents are professionals that work with a well-established agency as a business partner. They enjoy all the flexibility of managing their own business without doing all the legwork (like administration, marketing, and business set-up). Most partner agents can set their own schedules and earn uncapped commissions. They pay a fee to the agency they’re associated with, and, in return, they get ongoing support, mentorship and help with creating a successful business. How to Become a Self-Employed Estate Agent 1. Choose an Agency Most estate agents opt to join an agency when becoming self-employed. This is because they can help you set up your business and manage all the ‘hard’ stuff, like administration, compliance, sales progression, and marketing. The first step to becoming self-employed is choosing an agency to work with. When deciding who you’d like to work with, compare company ethos, testimonials, benefits, and fees. 2. Write a Business Plan Anyone that takes the plunge to become self-employed should have a business plan. It doesn’t need to be as fine-tuned as the ones you see on ‘The Apprentice’, but it should include things like competitor analysis, marketing plans, projected income, and ideal working schedules. A good partner agency will have a dedicated support team that can help you prepare your business plan and implement it in the best way. 3. Get Compliant Being self-employed comes with the responsibility of making sure you’re working within the law. This includes preparing things like: • Tax • Insurance • Licenses When working with a partner agency, you’ll have support and advice from experts. But it’s always a good idea to do your own research to make sure you’re compliant – including checking you’re not in breach of any former employment contracts. 4. Build Your Brand Being a self-employed estate agent is all about you. Your name and face will become your brand. That’s why your marketing plan should be all about convincing people that you are the expert in selling homes in their area. With the help of your agency, you’ll need to create things like: • Boards • A website • Leaflets and flyers • Social media accounts • A blog or news page 5. Start Earning! Once you’re all set up, it’s time to start earning! Most agencies can help you quickly gain a solid client base from day one. Their expertise and experience can lead to quick success, meaning you can earn more and reap the benefits of a better work-life balance as soon as possible. Has a Partner Model Piqued Your Interest? If becoming a self-employed estate agent has piqued your interest, we’d love to hear from you! At Newman’s, we believe in higher salaries and more rewards for UK estate agents. With our partner model, you can elevate your career and focus on doing the things you love – leaving us to do the hard work for you. Learn more about becoming a partner agent with The Property Experts today.