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How Much Does It Really Cost to Set Up a Property Sourcing Business?

Are you thinking about setting up your own property sourcing or deal packaging business? If so, you're probably wondering about one of the most important questions: How much does it cost?

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Building a compliant and successful property sourcing business is no small feat, but it doesn’t have to break the bank or leave you feeling overwhelmed. We’ve done the homework for you by breaking down the essential costs, so you can avoid overspending or making costly mistakes. 

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Why Knowing These Costs is Essential

Starting your property sourcing business without the proper guidance can lead to overspending, non-compliance issues, and wasted time. By understanding these costs upfront, you can:

Avoid expensive mistakes.

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  • Stay compliant from the very beginning.
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  • Focus your resources on tools and strategies that genuinely add value to your business.
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Our team of experts has honed this information to ensure you get it right the first time, saving you time, effort, and unnecessary expenses.

First-Year Costs of a Property Sourcing Business

To get your business up and running and compliant in the first year, expect costs to run at approximately £2,300. Here’s what these costs typically include:

  • Compliance: Ensuring you meet all legal requirements for operating within the property sourcing industry.
  • Registration Costs (e.g., joining the required redress schemes or obtaining necessary certifications).
  • Insurance: Protecting your business and clients.
  • Professional Fees (e.g., consultancy or legal advice as needed).

This figure provides the baseline for creating a compliant property sourcing business and does not include optional costs like marketing tools or advanced software solutions. However, it ensures you’re fully set up to start operating right away without risking non-compliance.

Annual Costs After Year One

 

Once your business is up and running, year-on-year costs drop to around £1,100. These ongoing costs typically include:

  • Maintaining compliance registrations and certifications.
  • Insurance renewals.
  • Basic operational expenses.

By fully understanding these costs, you can better budget for business operations and focus on growing your enterprise.

Take the Next Step with Confidence

Understanding the costs is just one part of the equation. To guide you through the entire setup process, we’ve developed the Setup to Success Course. This comprehensive training will:

  • Help you master compliance requirements.
  • Provide actionable strategies for building a professional and profitable business.
  • Teach you how to avoid common pitfalls as a new property sourcer.

Don’t leave your success to chance. Click below to get started and make your sourcing business both compliant and profitable.

View Our Setup to Success Course

Control your setup costs, build with confidence, and set your business on the path to long-term growth.

Powered by the National Association of Professional Sourcing Agents (NAPSA)

Created to elevate standards within the sourcing and deal packaging sector, NAPSA provides the support, education, and community sourcers need to succeed. Through our recognised work with The Property Ombudsman (TPO) and The Property Redress Scheme (PRS), we are your trusted source for compliance knowledge and professional growth.