I know people that spend a LOT of time coming up with cute names for their real estate business…They spend HOURS on this stuff and most of the time, it amounts to wasted time.
If you REALLY want your business name to WORK for you, think about this…
I like using the term “GROUP” in my businesses…It implies a big or bigger operation…It also tells people NOTHING about your business.
WHY would I do that???
Because it SAVES me MONEY!!! LOTS of MONEY!!!
You’re trying to think of a name for your REAL ESTATE business…Most people throw the word PROPERTIES or REAL ESTATE on the end…DON’T DO THAT!!
Use the word GROUP instead.
I’m going to ASSUME you’re gonna get a federal tax ID number with your business name…
The advantages I’ve found are as follows…
Let’s say you come up with something plain Jane like…
METRO PROPERTIES…OK great, sounds good!
But by CHANGING that to “THE METRO GROUP LLC” a few things CHANGE…
FIRST…NO ONE has any IDEA what that business DOES!!!
You know those vintage Porsche 911’s I’m buying now???
The parts I need for those cars get PURCHASED through nationwide parts vendors under my BUSINESS NAME (see above example) Metro Group LLC
By simply telling the vendor that I buy dozens of vintage Porshces and giving them my tax ID number I get a 30% TRADE DISCOUNT ON PARTS!!
I probably wouldn’t get that discount if my business name was METRO PROPERTIES…But METRO GROUP sounds like a car business!
I also get a trade discount at my local lumber yard through the METRO GROUP LLC. The reality division!!
I get my TIRES at WHOLESALE through The METRO GROUP LLC.
I get better pricing on EVERYTHING I buy because the NAME implies…
N O T H I N G… It’s whatever I SAY it is.
We’re talking about simple DISCOUNTS here, NOT cheating on sales tax or anything like that.
USE your business name to YOUR ADVANTAGE by keeping it NON SPECIFIC…Those DISCOUNTS are out there…All you have to do is ASK for them under your NEW BUSINESS NAME!!!