Operating as a home-based realtor comes with many benefits. Lots of realtors feel more comfortable working from home. You also have realtors who have obligations outside of work and working from home allows them to be closer to their families. With that being said, you have to know that there are many costs associated with operating a realtor business from home, and while it may be cheaper than working from an office, these costs have to be accounted for. Here are some hidden costs home-based realtors often overlook.

Setting Up the Home Office

Setting up a home office for your business might end up costing more than you imagine. We assume that you want to get the best computer possible, and a good machine will cost you in the low thousands at the minimum. You then have to start looking at peripherals like a high-quality monitor, camera, and other things like external storage. We haven't even started talking about preparing the space and furniture yet. So, you will have to set aside a few thousand dollars for this part only.

High-Quality Internet

Realtors cannot afford to have bad internet. You'll need to post a lot of content online, interact with people through social media and other platforms, and engage in face-to-face conversations with clients. Bad internet service will both make you less performant and look less professional.

If you want to get the best access at a reasonable price, we suggest that you go for a fiber optic service. Fiber optic is the gold standard for home business owners and provides some of the steadiest and best internet speed you can find. If you’re looking for a good quality fiber optic internet service provider Gateway Fiber is a great option.

Marketing

You also need to start looking at how you’re going to advertise your services and listings and how much you can expect to spend. Some realtors like to use more traditional methods like print, for instance, which can get very expensive. Others prefer to focus on things like PPC and SEO. Video is also extremely popular with realtors, and having videos done will cost you money. Either way, you will need to start researching your options and see which ones you should prioritize based on your budget and needs.

Insurance

You also need to think about insurance. You’ll need to get general liability insurance even if you don’t think it’s necessary. You’ll also need to be honest with your home insurance provider and let them know that your house is a place of business now. You will probably have to spend more as a result and get additional coverage, but you’ll have the peace of mind of knowing that there won’t be issues if anything does happen.

Before you decide to work as a home-based realtor, know that setting up and running this kind of business still costs money. So, before you jump in headfirst, make sure that you research what these costs are in detail and be ready to deal with them.