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How can I start a real estate business?

Starting a real estate business in the UK is easy. All you need to do is register with HMRC as a self-employed individual and get a National Insurance number. You will also need to get a Property Marker's License from the Royal Institution of Chartered Surveyors (RICS). Additionally, you will need to comply with the relevant UK legislation, such as the Landlord and Tenant Act 1985 and the Housing Act 1988. I have compiled a list of instructions to help you get started:

1. Register with HMRC as a self-employed individual and obtain a National Insurance number.
2. Obtain a Property Marker's License from the Royal Institution of Chartered Surveyors (RICS).
3. Familiarise yourself with the relevant UK legislation, such as the Landlord and Tenant Act 1985 and the Housing Act 1988.
4. Research the local real estate market and find out what properties are in demand.
5. Purchase or lease the necessary real estate and obtain the relevant permits and licenses.
6. Advertise your real estate business and find clients.
7. Maintain your properties and provide excellent customer service.

Reply 2

timleebcu

What do you mean by a real estate business, broadly it could be some of these:

Agency - advertising for rent/sale commercial/residential property

Management

Development

Investment

As you go down that list the costs start getting higher.

The previous reply was I think a little confusing - there is a body called Propertymark - this is primarily for residential sales and lettings agents and offers a number of training courses leading to level 2-4 qualifications (I think that's as high as they go, but do check)

The RICS is mentioned - for RICS membership you will need an accredited degree plus two years relevant experience (it's a bit more complex than that but that's the basic idea). This then leads to being a chartered surveyor - but that could be in many different specialisms - real estate, building surveying, development, rural etc. This is more of the professional route and chartered surveyors are very much in demand, and you could still run your own business later on in your career.