Starting a School? Let Us Help You.
Many things have changed since 2020, and it has affected so many lives, but one thing that has only continued to grow is the real estate market. It is a great time to start a real estate school. Here are some steps you can take to start your school.
Tip 1: Make Sure to Have the Financial Backing to Start
Money is necessary, but it can be hard to fathom what you will need to start a real estate school. There are multiple ways to finance your real estate school—you could do microloans, crowdfunding, a hard money lender, SBA loans, or a ROBS. We have a dedicated post here that goes more in-depth into each financial move. Don’t let money stop you from taking charge and owning your dream.
Tip 2: Create a Business Plan
A strong business plan acts as a firm foundation for your business. It is vital to start with a vision for your business and mission statement. However, that is only the beginning. The next step is performing a SWOT analysis; this outlines your future school’s strengths, weaknesses, opportunities, and threats. For example, an opportunity could be that there are no other real estate schools in the area, which can lead to an influx in students checking out your school, and a threat could be a real estate brokerage that also offers classes. The following steps are specific goals, a strategic plan, a time frame, a target audience, and systems and processes. The systems and processes are needed to accomplish the goals you outlined.
Tip 3: Course Approvals
Before you start your school and hosting courses, make sure you have applied and received your school and course approvals. This is vital to your school, but it can be tedious, so if your school needs help completing regulatory filing and administrative tasks, Dearborn Services includes a specialized team that can help your school complete these tasks. Learn more about Dearborn Services.
Tip 4: Complete Your Application Process
If you are considering starting a real estate school or are already in the process, a crucial step is to ensure you meet all the state requirements for your school. This not only makes starting one easier but also guarantees students will have the most accurate information. Determine the state(s) in which you want to operate your school. Then, complete the state application process. Not to mention, when you start a school, there are qualifications you must meet to even open for business. Starting your school is daunting enough; luckily, Dearborn has an internal regulations team that continuously verifies all materials are up-to-date and meet regulations for each state. This takes some stress off you, so you can put your focus on what really matters —your students.
Tip 5: Digital Connectivity/Platform
We are in a digital age, and it is only going to continue to grow. Embrace online learning, and invite it into your school’s architecture. Since 2004, educational delivery methods have drastically changed. Online learning allows students to learn on their own time and from anywhere. Dearborn offers two platforms for your online learning needs. REcampus allows your school to deliver asynchronous online learning, while our REcampus Live is our self-service platform designed for your school to provide live online education. Both platforms are excellent investments not only for your bottom line but also to provide quality, engaging learning opportunities for your students.
Not to mention, Dearborn makes sure only states allowed to have online classes (which is decided and ruled by ARELLO®) can purchase online materials. However, if you are hesitant to move entirely online, Dearborn offers state-of-the-art eBooks, so students can still study on the go.
Tip 6: Market Your School
This is one of the most impactful ways to gather students for your school, yet this is often overlooked or not focused on enough. Dearborn has a plethora of marketing topic blogs on more specific marketing practices that would assist your school. Spend time deciding who your target market is, and build a marketing plan for your school. Dearborn has a resource archive of marketing materials to show the courses and our online learning community for their partners.
Tip 7: Quality Content
There is no way around denying excellent quality content, whether that be clothing, furniture, cars, or education. Quality of content is our main priority at Dearborn; we update our content regularly, so our partners don’t have to worry or question the accuracy and quality of the content they are teaching their students. This goes for all of our services—books, online courses, eBooks, professional development courses, and more. Most of our books and courses also come with instructor resources designed to help your school’s instructors plan classes effortlessly. Dearborn has been around for decades and has a pristine reputation for its content and dedication to its partners and students.
To learn more about how to finance starting your school – check out this article!