Do you have a simple one page budget and net profit plan for 2015?
Budget Profit Plan for 2015
You likely have goals for 2015. Your goals may be X transactions for Y sales volume and Z GCI. If you do not have a goal for net profit and a simple one page budget plan to map your business, you need one ASAP. I would be happy to take 30 minutes with you and help create a solid one for free for you. Even if you’re not a client already, just email me what you have so far or your raw numbers for goals for transactions, average sales price, average commission percentage, and your current staffing of in-house or Best Agent Business assistants/admin.
Buyer Leads - Still a Massive Opportunity
The more buyer leads you are generating per month, the more money you are likely leaving on the table. Once you are above 25 buyer leads per month, we see agents losing track of the process and systems to monetize those leads. I know that I keep hammering this point home all the time. I do that because the net profit impact is huge, especially when combined with our Billion Dollar Agent model for Showing Agents. If you are reading this and truly ready to commit to close this gap in your business, ask us for help. Call me, email me or reply to this blog.
Case Study: REO vs. Expired
I like to share examples from top agents I speak with each week, whether they are clients or prospective clients of Best Agent Business. In this case, an agent is working 60-80 hours per week with focus on REO business, earning about $25/hour once all was said and done. On the REO side, the price point was $120,000, which was below area averages, he was getting 2.5% and he almost always was paying a 30% referral fee to REO aggregators. So, perhaps he got $2,100 GCI before his broker split. If he worked Expireds, which were viable in his market, the average price would be $200,000 and he would have $5,000 GCI per deal.
Lesson Learned: Run the numbers in your business. Face reality. If you are like many top agents between $100,000-$500,000 who are NOT good at running numbers, let me help. I love numbers.
Steve's Musings
Wow, so much more to learn and do as another year comes to a close. I am super excited by your business and our business and the many agents we want to help in 2015. The road ahead is crystal clear. Real estate is hyper-local and each market area is at different point on the curve of the real estate rebound. Your strategy must be defined by the current and future mix of REO, Short Sale, and Regular/Equity closed deals in your market. Take that, combine with your history, client database, and unique talents, and talk to me.
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