Ditch Your Job and Start Your Own Agency - Here’s How in 4 Steps
You’re sick of being told what to do, tired of making your boss rich and want to build an asset for your future but aren’t sure where to start.
Rather than getting overwhelmed by all the options out there, let’s break it down into a few simple steps for you.
1. Joining Forces
One of the first things to think about is whether you want to go it alone, or team up with others. There are many ways you can join forces and it will depend on what you want out of agency ownership as to which way you go.
Do you want full control and autonomy? Are you prepared to wear all the risk (and to get all the reward)? If so, starting an agency solo may be a great fit for you.
Do you want to feel like you belong to something bigger than yourself - part of a larger family and brand? If yes, then joining a franchise or a licensing model might sound right to you. There are so many different real estate models out there and you will likely find one that aligns with what you are wanting to achieve.
Or do you want a business partner so you can go hunting and take on the world together, operating under your own brand?
Once you have answered this big-ticket question, you can launch into your future.
2. Operations & Structure
Once you know who you want in your business, you need to think about how to run your agency. Start with your business plan. A business without a plan is like a traveller without a map. Consultants may charge you thousands to help out with this, but it can be as simple as a one pager that sets out your targets, budget and tasks. I use a one-page strategic plan for each quarter – if I had a huge document I would probably never look at it. Keep it simple and you will stay on track.
Operationally, you’ll have an idea on the systems and CRM that you’d like to use. Again, keep it simple and work out what you actually NEED to start with, rather than getting blinded with all the shiny objects out there that you THINK you need.
3. Licensing & Legals
Triple check the licensing requirements for your state or territory before jumping ship. If you don’t already have your full licence, make sure you are eligible for it and know the steps you need to take to get it.
When it comes to running your trust account, find someone that knows what they are doing and has done it before to help you out as this is an area that a lot of start-ups get caught out with.
For asset protection and tax reasons you may look at setting up a company to run your agency through. From there you will register for an ABN, TFN and GST and sort out your insurances. Your lawyer and accountant can help with this
Our biggest legal tip here - before spending a heap on branding, make sure you do your searches to make sure the name is available and you are able to use it. It can be heartbreaking when you fall in love with your brand and spend heaps on branding, only to find out it’s taken.
4. Relationships
Relationships are the biggest part of real estate life. We need to future proof our relationships with our staff, business partners and clients.
When putting staff on, make sure your employment agreements protect you properly. This will include getting their award classification right, setting up their commission structures and protecting your intellectually property and client database.
If you do join forces with others, be clear from the start what your expectations are and talk regularly about this to keep you both on track. If you are joining a franchise group, make the most of it – use their support and systems to launch your new agency into the future.
Most importantly, engage with your clients but make sure you protect yourself in the process by having the right agreements in place. Not just one you have pasted from someone else -one that reflects you, your brand and how you do things.
Key Takeaways
To take the leap and ditch your job, make sure you:
Find the right business partner, franchise group or team that aligns with what you want to achieve.
Set up your operations and structure right from the start.
Get help to nail the legals and licensing.
Future proof your relationships to ensure long term success.
Your Next Steps
Starting up your own agency doesn’t mean you have to do it alone - tag in our legal experts to guide you through the legals of your new business. Click here to book in your FREE 10 minute call to get started with out team of real estate agency lawyers.
Not quite ready for the leap? Download our FREE Real Estate Agency Start-Up Checklist today.
Frequently Asked Questions (FAQ)
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It depends on what you want from ownership. Solo gives you full control but all the risk. A partner means shared responsibility. A franchise suits those wanting a bigger brand and built-in support. Get clear on your goals before you decide.
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Yes but keep it simple. A one-page plan covering your targets, budget, and key tasks is enough. You just need something that keeps you focused and that you'll actually refer back to regularly.
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Check your state or territory licensing requirements first. Then set up your company structure, register your ABN, TFN and GST, and arrange insurances. Before spending anything on branding, search your business name — falling in love with a name that's already taken is a costly mistake.
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Get employment agreements right from day one — correct award classifications, clear commission structures, and protection for your client database and intellectual property. These are your safety net if a staff relationship breaks down.
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Ones tailored to your agency — not copied from someone else. A generic contract may not reflect how you operate or protect you properly. Your agreements should represent your brand and give you real legal coverage when it counts.
Kristen Porter – Partner, Realgate Legal
Kristen Porter is one of the Partners at Realgate Legal. With over 20 years of legal experience and dual degrees in Law and Commerce, Kristen brings a rare blend of legal expertise and commercial insight to every matter. She is a trusted advisor to business owners and agency leaders across Australia, helping them build profitable, legally-sound businesses.
Known for her practical, no-fluff advice, Kristen specialises in real estate agency law, corporate, and privacy law and regularly presents at industry events. At Realgate Legal, Kristen leads a team committed to making the law clear, actionable, and always aligned with your business goals.
Boring legal stuff: This article is general information only and cannot be regarded as legal, financial or accounting advice as it does not take into account your personal circumstances. For tailored advice, please contact us. PS - congratulations if you have read this far, you must love legal disclaimers or are a sucker for punishment.