- 1). Obtain a business license in each area where you will do business. Consult with an attorney and an accountant to discuss the possibility of forming a corporation to protect your business. Purchase a liability insurance policy that offers at least $1 million of protection.
- 2). Purchase a cell phone that you will use only for your broker business. Keep this phone with you at all times, and answer every call you receive. Set up a website that details your services and the properties you are representing.
- 3). Look online and in newspapers to find properties for rent, lease or sale. Contact the owners of the properties you choose and offer to handle the leasing of their land. Talk at length about each piece of property. Learn the client's expectations, tour the property and have the client sign a contract detailing your agreement.
- 4). Inspect each property thoroughly. Have each property surveyed. Take note of all hazards on the property. Make a list of all of the features and positive points about the land. Draft a summary of each property you will be advertising.
- 5). Have each of the properties surveyed. Keep copies of each survey so you have them with your land summaries for each lessee to review. Advertise all of your properties on your website. Link your advertisements on social-networking sites, classified-ad websites and other high-traffic sites on the Internet.
- 6). Draft a lease agreement specific to the owner's wishes and those of the lessee. Be sure to include your rules in the lease agreements as well, so all parties are covered. Tour the properties with prospective clients. Check each prospect's credit thoroughly. Choose the most reliable clients with the best credit rating and attitude. Have all new clients sign a lease agreement after you have reviewed it with them.
- 7). Collect the lease money from every client each month. Deduct your 20 percent fee from each monthly payment. Deliver the remaining money to the owner or owners. Inspect each property for damage quarterly. Provide the owners with a property and payment report quarterly.
Source...