How to Flip Houses with No Money: A Comprehensive Beginner's Guide

Most businesses choose between two types of domain extensions when looking to establish a reputable online presence. The .com and .net domains are prime online real estate when you want to appear professional and credible. But which one of these should you choose? Our guide on the .net vs .com comparison will help you select the right one for your business. Why the Domain Extension Matters Given that 20% of new businesses fail within the first year,  having an online presence and a professional-looking website is more important than ever. Aside from having experts design and host the site for you, one thing you’ll need is a domain name extension that reflects your brand. If you haven’t thought about domain extensions until today, you’re underestimating the significance of your digital address. These extensions are designed to categorize your website by business model and type, and there is a real difference between .com and .net domain extensions. Here’s why: Helps Identify Your Website’s Purpose What kind of business are you starting? An eCommerce website? Consulting services? Something unique and unusual? Choosing the right domain extension means you can help people who aren’t necessarily familiar with your brand and website quickly figure out what you’re all about. For example, .com domains, which are the most popular option, were originally conceived to host commercial sites, including online stores. Meanwhile, .net is derived from the word network, and the extension is a recommended alternative to .com. It’s meant to be used by businesses and companies that provide services such as website hosting. Improves Your Brand Perception Another reason to think carefully about the domain extension you choose for your business website relates to brand perception and how to improve your reputation. Here, it’s worth noting that the .com domain extension isn’t just easier to remember, but it’s used by nearly half of all the websites on the internet. As such, your target audience will likely perceive your brand as being more professional thanks to this domain extension. Builds Audience Credibility Another key component of your business that’s affected by the domain extension you choose is your ability to establish credibility with your audience. If you aren’t familiar with different domain types and select one that doesn’t align with your brand, it will undermine your credibility. When Should You Use a .com Domain Extension? By now, you have a pretty good idea about why a domain extension is critical to business success. But it’s important to circle back to the .com vs .net comparison and delve a little deeper into why you should get a .com domain extension? You Want People to Know You Have a Business Website Firstly, selecting a .com domain extension is a wise move when you want everyone to know you’re running a business website. One of the great things about having a .com domain extension is that nowadays, it’s applicable to pretty much any business type. It doesn’t matter whether you’re a construction company or you print magazines - a .com domain extension will work for your website. In the .com vs other domains showdown, the former should always be at the top of your list because it’s reassuring and familiar to users. However, the popularity of .com extensions also translates into limited availability.  You Don’t Want a Country-Specific Domain Extension It’s no secret that you can buy domain extensions for virtually all countries on the planet. For instance, if you have a UK-based operation, you could purchase a .co.uk or .uk domain for your business. However, if you want to promote your business on a global scale, a .com domain extension makes the most sense. This is also true when it comes to the .com vs .net domain extension comparison. The former is simply more internationally recognized. Believe it or not, some people aren’t aware of .net domains.  When Should You Use a .net Domain Extension? While there are many reasons it makes sense to invest in a .com domain extension, there are times when a .net is a better fit for your needs. Below are a few instances when a .net domain extension is more appropriate for a website: 1. When You Run a Tech Business A .net domain extension is perfect if you run a tech firm. For example, if you run a business that offers computer networking products and services or installs network infrastructure for other companies, a .net domain extension could be the way to go. 2. Your Website Is an Internet Service So is .net a good domain if your business is launching a new Internet service or platform? Absolutely. A .net domain extension is typically associated with sites that specialize in network-based technology such as email services or ISPs.  It’s also important to note that .net is sometimes used by businesses that can’t find a suitable domain available with the .com extension.   Which Domain Extension Is Better for SEO? The domain name you choose for your website can also impact your SEO capabilities. For example, having your brand or company name in your domain name can make it easier for people to find you. It’s worth noting that domain extensions, irrespective of what they are, don’t particularly impact your website’s SEO. However, the .net vs .com  showdown can be relevant when two sites have the same name and implement the same SEO practices but have different domain extensions. In those instances, the site with the .com domain extension will likely rank higher.  Further Reading Small Business Banking: Top Banks How Does eCommerce Work? How to Start a Property Management Company?

When starting a business, one of the first things you need to do is elect the appropriate structure. Many of the small businesses in the US are sole proprietorships as these are the simplest ventures to set up. That said, it’s important to weigh all of the sole proprietorship pros and cons before deciding whether you want to be solely responsible for both the assets and liabilities.        What Is Sole Proprietorship? A sole proprietorship is also known as a sole tradership or simply a proprietorship. It is an unincorporated business with a single owner who pays personal income tax on any profit that the business generates. As such, the owner is relieved of any specific business taxes or corporate tax payments, and no double taxation is possible with this model. A sole proprietorship is one of the simplest businesses to set up because it is owned and operated by a single proprietor and the legal requirements are minimal. This is a very popular option among entrepreneurs who are looking to start a business on their own and conduct all the transactions under their own name. Pros of Sole Proprietorship There are several key advantages to starting a sole proprietorship, including: Complete control of the business The fact that this business structure is easy to establish The absence of corporate business taxes Very few legal and formal business requirements    Full Control  In a sole proprietorship, a single person has complete control over the business. As a sole proprietor, your decisions determine the trajectory of the company, and you don’t have to consider the opinions of third parties such as shareholders or legal partners.  This is a level of freedom that isn’t afforded with other business types, such as an LLC or a C-corporation. The unprecedented level of control and the freedom to maneuver are the main reasons many young entrepreneurs choose this type of business structure. It allows the owner to experiment with different ideas and concepts before choosing the best approach.  In other words, a sole proprietorship enables business owners to take a certain degree of risk and test out their ideas before adopting a more formal business structure. Sole proprietors also receive all the profits and are free to sell or transfer their company to another person anytime they want.   Easy to Set Up  Establishing a sole proprietorship is a remarkably simple process. One of the main advantages, when compared to other business structures, is that you don’t have to fill in a pile of paperwork in order to get started. Other business types require you to register with your state government before you are legally able to operate as a company. However, you don't have to register with the state when setting up a sole proprietorship, and you don’t have to worry about the considerable costs that come with starting LLCs, for example.  The most important thing is to secure the relevant business licenses and permits. This is determined by the state, city, or county in which your business operates. A quick chat with the nearest Small Business Development Center will tell you everything you need to know. If you need any additional assistance, there are fairly affordable legal services to choose from.  This may sound like a time-consuming affair, but it’s a faster and simpler process than setting up another type of corporation in which assets are shared. Few Formal Business Requirements Business structures such as S-corporations and C-corporations aren’t only costly to set up but require extensive operational processes and record keeping. The unique structure of sole proprietorships frees your business of these requirements. Essentially, you can make your own rules as long as you’re legally compliant with local regulations. For example, a sole proprietor can skip all the meetings that are organized within LLCs to make sure all their members are on the same page and happy with the way things are running. Some companies need to have business decisions formally approved by their board of directors rather than by a single person. Such constraints don’t exist within a proprietorship.  Businesses that have shareholders often hold votes when appointing managers and new members. This is the case with any formal action the company takes, and minutes for all of these meetings and votes need to be kept for corporations. Of course, a sole proprietor is making all the decisions for their business entity. No Corporate Business Taxes The federal corporate tax rate is 21% of business profits. A sole proprietor doesn’t have to make corporate tax payments and only pays a personal income tax. Any earnings from this business should be claimed as pass-through income. This means that you report the income of your business on your individual income tax returns. C-corporations have their revenue taxed as a company but also get taxed a second time when profits get distributed to shareholders as dividends. In other words, the corporation is being subject to double taxation, something that sole proprietors don’t have to concern themselves with.  The taxes that you should expect to pay as a sole proprietor are as follows: Self-employment tax Income tax Sales tax The self-employment tax is imposed on those who run their own business. This is relevant for any income from the business and ranges between 7.65% and 16.2%. As a sole proprietor, you’re required to list all profits on your personal tax return, which will be taxed at your ordinary rate. A sales tax doesn't apply to all sole proprietors as it depends on the nature of the business. If you sell any kind of goods, you are subject to a sales tax. This also depends on the state that you are in, so be sure to familiarize yourself with local state laws before sorting out your taxes.  Cons of Sole Proprietorship This business structure also has its share of disadvantages. Below are the most important ones:  No liability protection Personally responsible for all business debts Perceived lack of professionalism Hard to sell  No Liability Protection (Unlimited Liability) Companies that are registered with the state get a certain level of liability protection due to the fact that they are legal business entities. As a sole proprietor, you are responsible for all the debts and liabilities linked to your business. Unlike the benefits enjoyed by other businesses, the government considers the sole proprietor a self-employed individual, which means that you are on your own.  To put this into perspective, an LLC offers protections that prevent creditors from being able to seize the personal assets of the business owner if things don’t work out. It also shields the business owner from potential lawsuits related to the business. There are a few exceptions to this rule in very rare circumstances, but generally, the protection afforded to owners is extensive.  If you are a sole proprietor, these protections do not apply to you. And if a customer is unsatisfied with the services of your company, you are the only one held liable. Personally Responsible for All Business Debts All of the obligations of the business fall squarely on the sole proprietor. This includes any debts for which the sole owner is held personally liable.  Other businesses have a certain level of protection here as any financial or legal issues are that of the business itself, not the person who owns the company. Unfortunately, these protections do not extend to sole proprietorships. Perceived Lack of Professionalism As a sole proprietor, you will face a lot of stumbling blocks. For starters, in the business world,   sole proprietors are often perceived as people who lack professionalism as they are not registered with the state. Sole proprietors often work from home and run small businesses in order to make some extra income, rather than trying to build a large and globally recognizable company. Of course, more often than not, these perceptions are inaccurate, and there is nothing wrong with this kind of business setup.  To avoid any misconceptions as a sole proprietor, you can obtain a “doing business as” name. Where most sole proprietors just trade through their name, a DBA can help eliminate any perceived lack of professionalism. You should also open a business bank account in this name, and all your transactions should have this name attached to them rather than your personal name. Harder to Sell Down the Line A sole proprietorship has its share of benefits. However, complications can arise when you’re trying to sell your business. Since the company is tied to you as an individual, it is difficult at best to sell this type of business. As such, if selling the business down the line is an important part of your plan, then this is not the best business structure for you to consider. That said, it isn’t impossible to sell this type of company. It is simply more complicated because you need to sell your business assets rather than the company itself. While you cannot sell the company as a whole, you can still sell parts of this entity. The buyer will have to change the business name unless you have already established a separate “doing business as” name. If you have, then you simply need to give the new owner legal permission to use the name.  What Are Your Other Options? Sole proprietorships are far from being the only avenue worth exploring in the business world. They’re probably not a good choice for anyone who wants to develop a vast business network or needs extensive resources. If you’ve given yourself permission to think big, you might want to consider other options. For example, if you still plan to be the only person involved, it’s possible to convert your business to a single-member limited liability company or an SMLLC. This would give you some limited liability protection and tax benefits, so your assets aren’t exposed to a certain level of risk. If you need help opening an LLC, you can hire an LLC service company to help you get started.  Of course, LLCs have their own disadvantages, including extra costs, so make sure you have the right budget for your preferred venture.

To stay relevant in a highly competitive industry, realtors need to get up every morning thinking about one thing: how to get clients in real estate.  In this lucrative market, an agent’s commission depends on a number of factors, but an average realtor fee is around 5%-6% of the sales price. Of course, even when the commission is just 1%-2%, agents stand to make thousands of dollars.  Whether you’re just starting out or need to breathe fresh life into your real estate business, this guide will help you identify prospects and win contracts. Getting Real Estate Clients: The Things That Matter   Like in any other business, realtors are focused on attracting more clients by offering the right deals on different properties. To effectively engage with potential clients, realtors need to have an in-depth understanding of the latest trends in the housing market. But that’s not always enough when dealing with real estate clients with high expectations. Knowing how to get business in real estate requires an evolving strategy. Some of the latest real estate statistics highlight the importance of developing an effective social media strategy while underscoring the industry’s cutthroat environment where more than two million real estate agents are competing for clients.   How To Get a Piece of the Action So how do realtors find clients, and what are the quickest and most cost-effective solutions? Being professional and knowledgeable is important, but you need to do more in today's landscape. To win over clients and ensure success, realtors have to exceed expectations.      Below are a few critical real estate techniques for wheeling in clients in 2022. #1. Boost your online visibility Available data shows that up to 93% of prospective homebuyers research properties online. In fact, the internet is the most popular avenue for accessing brokerage services, with brick-and-mortar offices becoming obsolete. As such, an intuitive website should be the backbone of your real estate marketing strategy. Outsourcing your website design and related activities can help you better identify the people interested in your properties. Regardless of whether you choose to call an expert or take the in-house approach, the following checklist will ensure you stand out from the crowd and attract more real estate clients: Choose a suitable web host because any kind of downtime will put customers off. Deliver an intuitive design that meets customer expectations of how a realtor website should be laid out. Use a color scheme that matches your branding. Ensure that the website is supported by on-site SEO tools to boost your Google presence and inspire organic traffic. Protect your website with SSL encryption and other suitable cybersecurity tools. Essentially, you must remember that the website should be built with two things in mind - potential clients and search engines. The design and speed of your website will attract users, while the mechanics pave the way for a strong online presence. #2. Embrace social media A strong online presence doesn’t begin and end with the website. Learning to link your social media channels to your website will instantly grow your visibility. 47% of realtors state that social media is the best tool for driving quality leads from real estate customers. You should be using Facebook, Twitter, Instagram, and Pinterest. People interact with hundreds of brands each week. Even when actively looking for properties, they will probably interact with several agents and realtors. Using social media can help establish your company as the best choice while simultaneously gaining more leads in real estate. Here’s why: Many people happily spend their time looking at properties on social media because it’s very convenient. Viral content can establish your realtor business as an authoritative voice in the field. More than 45% of consumers would rather communicate with businesses through instant messaging services than email. Social media interactions keep your real estate company fresh in their minds and create extra touchpoints. Users can follow the brand for updates while also saving relevant properties with ease. Social media posts also allow you to look beyond sales and focus on forming long-lasting relationships with customers. Of course, all this increases the chances of converting real estate leads into real estate clients. #3. Utilize other online channels Your website and social media channels are controlled by you. However, you should also look to gain a strong online presence through third-party channels. For starters,  85% of consumers trust online reviews as much as personal referrals. So, encouraging existing and past clients to leave a review on verified third-party sources can work wonders. There are many other ways to utilize the power of social proof and recommendation. Below are some of the most efficient solutions: Look for link-building opportunities through suitable outreach strategies. Get social media influencers to create content recommending your realtor services. Make sure your business is listed on directory websites - both in your city and in the realtor sector. Make your business appear on Google Maps and local searches with Google My Business because 46% of all Google searches are seeking local information. Get press coverage and use a dedicated real estate CRM that allows interactive listings to be shown. By successfully employing these methods, you’re enabling people to find you online even when they aren’t aware of the company. This can generate leads from people actively looking to buy/sell property while also keeping you in mind for their future needs. #4. Meet people organically Although the figures vary based on demographics, statistical data shows that the average person moves once every five years.  So, if you build a network of acquaintances throughout your life, there is a strong chance that at least some of them will be looking to buy or sell property in the near future. Meeting people organically and building friendships can be achieved in many ways. Some options include: Joining a volunteering scheme in your local area. Supporting a worthy local cause, which also feeds into your bid for increased corporate social responsibility. Attending local events and business networking events.  Being more sociable in your daily life. Ask friends and relatives to introduce you to anyone they know who is looking to move. Building rapport can boost the sense of trust for your company while your passion for the job shines through. Better still, the path to conversion should be a lot smoother when these real estate clients are ready to act. #5. Show professionalism Every realtor understands the significance of a good first impression. These initial vibes have a huge impact on prospective homebuyers and sellers. Therefore, showing a sense of professionalism during those key interactions is vital. Aside from gaining improved responses from potential leads in real estate, professionalism can also boost your self-confidence. To make the right impression by: Investing in your beauty/grooming routines and fashion sense. Consumers tend to trust attractive and friendly-looking people. Always carry business cards as you never know when a connection could be made.  Always have a printed brochure for the property or a list of the properties currently available. Keep a record of recent sales to show what you can do for a client while also providing insights into current market trends. Consider taking a body language course because nonverbal cues are a critical part of communication. Clients want professionalism in all business matters. However, it is particularly vital when dealing with clients in real estate because it is a huge decision for a buyer or seller - financially and in terms of their happiness. #6. Establish yourself as an authoritative voice Aside from the fact that one-in-three homebuyers are first-time buyers, it should be noted that real estate prices have increased by 73% since 2000. With so much on the line, people are putting a great deal of confidence in your realtor company. Arguably the best way to get clients is to avoid reaching out to them and let them reach out to you. When conducting their research, people will read up on the real estate industry and take note of the names that appear to be knowledgeable. So, you may want to consider: Creating content such as blogs, podcasts, and vlogs to give valuable insight and educate your future clients Providing a guest column for local newspapers or appearing as a guest on local media Making a clear portfolio of all your clients and celebrating any accolades Being happy to interact with people and answer questions through social media or by creating a FAQ page on your website Organizing networking events or classes for buyers, sellers, and other interested parties The real estate you try to sell on behalf of clients will sell itself as long as you present and price it correctly. However, human interactions are an important aspect in the client’s decision-making process. Prove your value, and you’ll win more contracts. #7. Empower your team The vast majority of consumers believe the way a company treats its employees is a measure of trustworthiness. Furthermore, you’ll find that your employees are responsible for many of the client interactions. So if you want to know how to get business in real estate sectors, establishing a sense of consistency across all teams is vital. In addition to realtors and salespeople, your team may include mortgage advisors, receptionists, and other valuable staff members. Some of the best ways to build a better team include: Going the extra mile to enhance your recruitment processes Investing in a clear mission statement and vision statement that underlines your purpose as a realtor Investing in valuable staff training practices to ensure all employees deliver consistent experiences for potential buyers and sellers Implementing wardrobe guidelines and using company cars to help your agents make a better first impression Making yourself available as a mentor or simply answer questions your staff may have Running a successful real estate business cannot be a one-person show. By building the strongest possible team, you’re giving yourself the best chance of winning real estate clients while putting your mind at ease. #8. Show that you understand them 52% of homebuyers say the main purpose of a real estate agent is to find their desired property. So, in order to provide the best service as a realtor, you need to understand people as well as properties. After all, the assignment isn’t to help them find the perfect property - it is to find the perfect property for the client. When it comes to handling a seller, it’s about getting the right price. Clients looking for a property will give you a few chances to get it right but will soon look elsewhere if you keep showing them the wrong properties. Get to know them by: Actively listening to what they tell you about their dream home and, more importantly, their priorities. Being honest with them throughout the entire process, especially when it comes to their budget and the fees they can expect to face. Looking into issues that may affect them most, such as commute times or local attractions. Where possible, showing evidence of past examples where you’ve helped clients in similar positions. Staying in regular contact with them throughout the process. The final point is of particular importance because most people will naturally wrestle with their decision for months before making a commitment. If you want to know how to get clients in real estate, persistence is key. A good CRM software that helps you to follow up is vital. #9. Look to new avenues Just under two-thirds of American families own their primary place of residency. So, one of the best ways to win new clients in real estate is to branch out. This allows you to reach new demographics and avoid the threat of hitting a bad patch if the market takes a plunge. Here are a few ways to secure more leads in real estate: Work with landlords, as over 35% of homes are rented. Look at land and home packages in the fields of agriculture. Work at commercial properties. Branch out to other states or international markets. Add luxury homes or family homes to your existing platform. In addition to exploring new markets, you should also consider new services. Offering a property management service to landlords or free virtual tour video creation to home sellers may give you the edge and help you get more real estate customers. #10. Build your network The real estate SOI or sphere of influence is a powerful tool that allows you to make the most of your contacts as well as word-of-mouth referrals. With this in mind, building your network should be an ongoing process. While organic network building through non-business matters is great, you should not ignore the benefits of direct real estate networking. You can bolster your network with a range of SOI real estate endeavors, such as: Hosting open houses for experienced agents. Directly working with other agents, especially on bigger contracts. Capturing relevant contact details while working open houses. Handing out business cards to friends, family, and local businesses. Joining a luxury real estate council. The realtor game isn’t just about properties. It’s also about people, and the sooner you realize this, the better. The best estate agents don’t just sell homes; they sell dreams. A larger network allows you to match the right home to the right person. Further Reading The Difference Between a Townhouse and a Condo - A New Homeowner’s Guide What Do HOA Fees Cover? Understanding Homeowners Associations  What Is Due Diligence in Real Estate? Conclusion Knowing how to get clients in real estate isn’t the only part of making your realtor business work, but it is the most important. To get the desired results, you may have to present yourself in a more effective way, revamp your real estate marketing techniques, or reach out to new audiences in different areas of the market. One way or another, attracting and dealing with clients in real estate is an ongoing process. The grind never stops. But when you get it right, your business will be as safe as houses.