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How to get from Zero to $100,000 quickly

By
Real Estate Agent with Berkshire Hathaway HomeServices | Pen Fed Realty 3107554

Well, you first have to have a plan. 

I can't believe how many Realtors sit and wait for the business to come to them.  Like somehow magically it will appear.  Or the Realtor who expects to be handed the business by their brokerage firm.  Come on now, you are an Independent Contractor and responsible for your own destiny.  That is exactly why I work for myself.  I take no orders, do my own thing, work as hard as I want, plan my own schedule, etc.

Well, then just how do you get there?

These weekly activities will help.

  1. Meaningful prospecting calls per week.  How Many?  What percentage of your time? Vs.  Wasted phone calls
  2. Listing Activities.  How many hours per week?  What percentage of your time?
  3. Buyer side Activities.  How many hours per week?  What percentage of your time?
  4. Administrative Activities.  How many hours per week?  What percentage of your time?
  5. Estimated Average Workweek.  How many hours per week?  What percentage of your time?

Questions:

  1. Desired Annual Net Income
  2. Average Sales Price in Your Market
  3. Average Commission Side Percentage
  4. Company Agent Split Percentage
  5. Percent Buyer Side

Assumptions

  1. Number of leads neede per closing
  2. Workweeks per year
  3. Efficiency Percentage

If you can't write down a plan and heads towards a goal, then you will never be successful.  You can't just arrive at success.  It takes work and planning.

I hope that you reach your 2012 goals quickly and then you can adjust and rewrite your plan with higher goals.  That is afterall, what we all want.  Success.

Cheers!

Kelly Klein, Lifeguard Real Estate, Inc.   850-420-2480

Http://www.KellyKleinSoldMine.com

Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Kelly, I totally agree!  I come from a "metrics" background, where you figure out how many calls to get an appt, how many appts to get to a listing, etc.....it helps and works!

Nov 02, 2011 02:58 AM
Carol Barron Cross
SUNFLOWER HOMES & EQUESTRIAN LLC - Palm City, FL
Sunflower Homes & Equestrian LLC

Great post. You are correct. Can't sit and wait for your telephone to ring or get that contact message. You got be focused with a plan.

Nov 02, 2011 03:01 AM
Anonymous
Kelly Klein

Yes, I am working on my 2012 plan now.  Never too late to plan ahead.

 

Nov 02, 2011 03:04 AM
#3
Lorraine or Loretta Kratz
Crescent Moon Realty, Inc. & Land N Sea Auctions. - San Marcos, CA
Certified Negotiation Consultants

Kelly:

It also amazes me how many agents fly by the seat of their pants. Having a business plan and working the business plans is key--having a budget is also essential. The reason that I became and independent broker is so that I had a say over my money. When I was associated with a broker as an agent was shocked at how much of my money went to the broker and what I got in return that also makes a big difference in how fast you get to $100,000.

Nov 02, 2011 03:05 AM
Anonymous
Kelly Klein

Math was never my subject, but I soon learned it to apply to my business. I know just how much hard work it takes in each category to convert.

Thanks for your comment.

Nov 02, 2011 03:08 AM
#5
Doug Rogers
RE/MAX Coastal Properties - Destin, FL
Your Real Estate Resource!

A dream without a plan is merely a fantasy.

 

Nov 02, 2011 03:20 AM
Debbie Holmes
John L. Scott - Boise, ID
Gets the job done!

I have a plan....Just having troubles right now.....It should get better....Thanks for the advice....The more you see some things the better off you are...

 

Nov 02, 2011 03:23 AM
Dan and Amy Schuman
Howard Hanna Real Estate Services - Solon, OH
Luxury Home Specialists

This is a great post, Kelly, and very timely too. We should all be working on our business plans for 2012.

Nov 02, 2011 03:48 AM
Anonymous
Kelly Klein

To Doug, well said.  Thanks.  I liked your statement :  "

"A  dream without a plan is merely a fantasy."

Nov 02, 2011 04:26 AM
#9
Linda Urbick
RealtyOne Group - San Ramon, CA
Selling San Ramon Valley - 925-786-5132

Business planning for real estate is no different than any other business - this is our business - we are the owners and therefore, a yearly plan is a must.

Nov 02, 2011 08:31 AM
Dominick Dina, MA, REALTOR®
Christian Realty San Antonio - San Antonio, TX
GRI, e-PRO, TAHS, SFR, Notary Public

Kelly,

Every agent needs a business plan with production gols.  If we do not plan for where we are going we certainly will end up where we arrive.

Dominick

Nov 03, 2011 03:46 AM