PREA Signature Realty - Business Planning

Recently, Katerina Gasset posted an article entitled "Is Real Estate Your Job Or Your Business? What They Did Not Teach You In Real Estate School!" which pointed out the simple fact that real estate agents are not employees.  Real estate agents are business owners in charge of their own brands.  As such, they are in charge of developing and implementing a business plan, a financial plan and a marketing plan. 

The U.S. Small Business Administration provides a variety of online resources and tools for small business owners, including a series of online courses.  Although the online courses are pretty basic and are not tailored specifically to real estate agents, the online courses do provide general information as a good starting point for developing an "owner" philosophy (as opposed to an "employee" philosophy). 

Here are some of the relevant online courses:

Starting a Business

Surviving the Downturn

Business Management

  • Crime Prevention: A Guide for Small Business
  • How to Prepare a Business Plan
  • My Own Business
  • Disaster Recovery: Guide to SBA's Disaster Assistance Programs
  • Retirement Planning
  • Accounting

    E-Commerce

    Marketing

  • Marketing 101: Guide to Winning Customers
  • Marketing for Small Business
  • Conduct a Marketing Analysis
  • Business Planning

    For more information on sales training available from PREA Signature Realty, contact Ryan Shaughnessy at 314-971-4381 or send an e-mail to Ryan@PREASignatureRealty.com.

    ________________________________________________________________________________________________

    PREA SIGNATURE REALTY

    Download Property BrochuresView Our Listing PresentationWatch Our Property Videos on YouTube

     

     

     

    PREA Signature Realty is a full service brokerage located at 1709 Park Avenue in the Lafayette Square neighborhood of the City of St. Louis.  PREA Signature proudly serves the following city neighborhoods:  Lafayette Square, Soulard, Benton Park, Benton Park West, Downtown Loft District, Forest Park Southwest, Central West End, Tower Grove East, Tower Grove South, Compton Heights, Shaw, The Hill, Dogtown, Carondelet, Holly Hills, St. Louis Hills, Dutchtown, and the Other Historic Neighborhoods of the City of Saint Louis, Missouri. 

    The opinions expressed herein represent the opinions of the author only and do not reflect the opinions of PREA Signature Realty.  All photos and written content were produced by PREA Signature Realty.  All Rights Reserved - PREA Signature Realty (2009).  This content may not be reproduced or reprinted, except for Active Rain re-blogging, without express written permission of PREA Signature Realty.

    For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com

     
    This post has been included in Missouri Information Saint Louis City County, MO Information Saint Louis, MO Information
    Post is included in group: Realtors®
    Post is included in group: Real Estate Rookie
    Post is included in group: Free Tools For Real Estate Agents
    Post is included in group: Coaching-Personal Development
    Post is included in group: Coaching and Mentoring

    26 Comments on The Business of Real Estate Sales - Real Estate Agents are their own Small Businesses - Online Business Training Classes from the SBA

    JUL
    09
    1 Featured Post

    Wow, lots of great resources, for new and experienced agents. Thanks for sharing!

    3:20pm • #1
    205,256 Points 19 Featured Posts Outside Blog

    Rich - I hope the info helps one of your customers.  In my opinion, thinking like an employee (as opposed to an owner) may be one of the biggest impediments to success as a real estate agent.

    3:32pm • #2
    431,584 Points 76 Featured Posts Localism Sponsor Outside Blog

    Hi Ryan!  After reviewing some of your awesome resources, I found my way back to say, THANKS!  I have a partner that is in desperate need of some of these sites and I'm sending him this link!  EXCELLENT follow-up to Katerina's great post too.

    Debe in Charlotte

    4:15pm • #3
    205,256 Points 19 Featured Posts Outside Blog

    Debe - I was working on a why "independent contractor agreements" have ruined the real estate profession type of post when I read Katarina's post.  I was focusing on the odd dynamic between the agent who says "hey, I'm an independent contractor and I don't have to do xxxx" and the agent who criticizes their broker saying "hey, my broker should be doing xxxx for me."  The simple fact that we are our own businesses.  As soon as the employee mentality is replaced with a business owner outlook, the work (and fun) starts in this business.

    4:34pm • #4
    121,931 Points 5 Featured Posts

    Ryan - how true your words are!  It is a business and your info here will be a great help!  Thanks for sharing...

    5:08pm • #5
    205,256 Points 19 Featured Posts Outside Blog

    Lee & Pamela - Thanks for reading and commenting.  It is a good starting point for changing orientation from employee to owner.  It is all about taking control of your business and taking responsibility for how you build your business.

    5:15pm • #6
    117,861 Points 4 Featured Posts Outside Blog

    Thanks for bringing this up!  I use the SBA "How to write a business plan" course in my agent training...it is AWESOME!!!  Great resources and all FREE!!!  Take advantage of every free resource you can get your hands on!  Thanks again for the post!

    6:06pm • #7
    205,256 Points 19 Featured Posts Outside Blog

    Jeani - It is a nice resource and works well with Katerina's post.  So far, it has been a struggle to get agents to develop their own individualized marketing and business plans.  When we talk about this subject (over and over), it is often met with blank stares.  Planning and execution are two of the key building blocks for developing a successful career in real estate.

    6:10pm • #8
    164,536 Points 6 Featured Posts Outside Blog Hit Router

    Great resources, you're right, we all need to sharpen our business skills, especially in this market.

    6:13pm • #9
    1 Featured Post Localism Sponsor Outside Blog

    Ryan - Thank you for gathering these resources. I am definitely bookmarking this post!

    6:24pm • #10
    205,256 Points 19 Featured Posts Outside Blog

    The Rays - In the go-go days, mediocre agents looked like superstars.  Now, it is all about the basics - business planning, marketing, technology, sales skills, communication, etc.

    Coleen - Thanks for reading.  I hope the post is of assistance.

    6:47pm • #11
    658,860 Points 104 Featured Posts Localism Sponsor Outside Blog Hit Router

    Ryan- Thank you for the mention of my post and the link love. Appreciate it much!! I am thinking about turning that post into a series to help new agents.

    7:09pm • #12
    205,256 Points 19 Featured Posts Outside Blog

    Katerina - I was in the process of writing a post on the death of the profession based on the "independent contractor" defense to hard work, professional development, individualized business plans, and personal marketing.  However, your post captured my main thoughts without the broker angst (or is that disgust).

    7:14pm • #13
    187,202 Points 15 Featured Posts Localism Sponsor Outside Blog Hit Router

    Ryan - Your post is a wonderful compliment to Katerina's.  The links that you've provided will be a great asset to help get a better pespective of what it takes to run a business or to sharpen up the skills necessary to be a successful business owner.

    8:42pm • #14
    321,739 Points 8 Featured Posts Outside Blog Hit Router

    Ryan--Excellent resources. I teach licensing at PSU and often I get off track in the class, when I describe a real life situation, or go off on how to do business properly. That is not in the curicculum, yet it SHOULD be. I pepper the class with lots of anecdotes and examples.

    9:15pm • #15
    205,256 Points 19 Featured Posts Outside Blog

    Donna - I enjoyed Katerina's post.  i was writing something a bit less positive.  So, in the spirit of her post, I switched to something more positive - like online courses.  However, you can lead the horse to water, but you can't make it drink.

    Erica - I would love to see a bifurcated licensing process.  Start with the licensing exam.  Require a period of apprenticeship with courses on more of the technical aspects of the business.  Then a second exam at 12 mos. I think that one of the reasons that we have so many agents who are less than ideal is because the entry barrier to becoming an agent is pretty low.  I would love to see the bar raised.

    10:28pm • #16
    1 Featured Post Outside Blog Hit Router

    Great stuff Ryan!  I will have to take the time to look this over.  Thanks for sharing

    11:03pm • #17
    214,024 Points 6 Featured Posts Localism Sponsor

    Ryan, this is a great resource for any agent entering the business. Thanks for sharing!

    Sharon

    11:21pm • #19
    205,256 Points 19 Featured Posts Outside Blog

    Sharon - These are basic online courses - but at least it is a starting point.  I find it frustrating at times trying to change agent attitudes regarding the business aspects of our profession.

    11:25pm • #20
    Outside Blog

    SBA is an Excellent resource for the finances of a business and I believe they can be a great resource to agents and brokers in this area. However, the marketing tips of SBA seem quite outdated and do not address the extremely competitive nature of the real estate business.

    11:26pm • #21
    366,077 Points 3 Featured Posts Localism Sponsor Outside Blog

    This looks like a lot of great resources.  It seems that many in real estate don't think of it as their own business, perhaps because they have brokers or large companies they are part of?

    11:26pm • #22
    205,256 Points 19 Featured Posts Outside Blog

    Oxford Realty - I would agree.  I would also add that the e-commerce isn't exactly comprehensive either.  Again, these are starting points for new agents to understand the nature of managing their own business.

    11:28pm • #23
    205,256 Points 19 Featured Posts Outside Blog

    Christine - I am not sure of the "why".  I do know that successful agents are entrepeneurial, take initiative and understand the importance of professional development, building their business, etc.  On one hand, I think that sometimes it is the part-time nature of some agents.  Others just don't seem suited to the "eat what you kill" nature of sales.  Others use the independent contractor agreement as a justification to do what they please.  Some of these same agents look upon the broker almost in a dependent way to provide lead generation and to provide support - to the point where I wonder if their profession is real estate sales or professional tour guide/driver.

    11:34pm • #24
    164,953 Points 3 Featured Posts Localism Sponsor Outside Blog Hit Router

    So many of us are spending so much time & effort drumming up business, we often forget to take care of our own business.  Great post, Ryan!  I'm reblogging this one & sending out a tweet link to your original!

    11:39pm • #25
    205,256 Points 19 Featured Posts Outside Blog

    Kent - Thanks.  I think these are pretty good courses to be used as a starting point.  Obviously, the SBA thinks startups need to know these basics.  So why don't new agents seem to want to focus on these building blocks?

    11:46pm • #26
    JUL
    10
    321,739 Points 8 Featured Posts Outside Blog Hit Router

    Ryan-- I agree. The bar is set way too low.

    4:57pm • #28

    This blog does not allow anonymous comments

     
    Ambassador_large

    Ryan Shaughnessy, Broker/Attorney - Your Lafayette Square Real Estate Partner

    Saint Louis, MO

    More about me…

    PREA Signature Realty - www.preasignaturerealty.com

    Address: 1709 Park Avenue, Saint Louis, MO, 63104

    Office Phone: (314) 397-3182

    Cell Phone: (314) 971-4381

    Email Me

    A Blog for New Home & Other Sales Professionals and for Sellers and Buyers Interested in City Living PREA Signature Realty proudly serves the communities of Lafayette Square, Soulard, Benton Park, Benton Park West, Downtown Loft District, Forest Park Southwest, Central West End, Tower Grove East, Tower Grove South, Compton Heights, Shaw, The Hill, Dogtown, Carondelet, Holly Hills, St. Louis Hills, Dutchtown, and the Other Historic Neighborhoods of the City of Saint Louis, Missouri.

    View Ryan Shaughnessy's profile on LinkedIn


    twitstamp.com
    Ryan Shaughnessy's Facebook profile



    Links

    Archives

    RSS 2.0 Feed for this blog

    Find MO real estate agents and Saint Louis real estate on ActiveRain.