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Real Estate Auctions

About Startup Costs

The startup costs provided in this database include an approximate financial investment that will be needed to start the business. This is generalized information and should only be used as a yardstick to determine business startup costs. Your investment will vary based on factors such as equipment, transportation, licensing and permits, operating location, working capital and initial marketing and advertising budgets. Remember a successful entrepreneur is one who carefully researches and plans every aspect of a new business venture, including the financial investment needed to start a business and the working capital required to achieve positive cash flow.

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Business At A Glance

Real Estate Auctions

Startup Costs: $10,000 - $50,000
Home Based: Can be operated from home.

About

Franchises Available? No
Online Operation? Yes

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Use your booming voice to start a booming auctioning business. Business idea sold!

Business Overview

Real estate auctions are becoming extremely popular, as an auction is a very effective method to sell a property quickly and effortlessly. The main requirement for starting a real estate auction service is that you, a partner, or employee must be a licensed auctioneer. The business can focus on real estate in general, or be more specific and specialize in one particular type of real estate such as vacation properties or commercial buildings. The business creates revenue by way of a commission percentage that is based on the total selling price of the property be auctioned, and the commission rate charged often varies between 3 and 10 percent. The key objective is obvious: sell the property for as much as possible, as this will earn the business a higher commission fee. This will make your client very happy, which in turn helps to build a good reputation in the industry and guarantees future real estate auction clients.