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Cutting Costs Yet Gaining Business in 2009~Work Smart Not Hard.

By
Real Estate Broker/Owner with Brooks Prime Properties Wichita Falls Texas

It's a general consensus that we are all watching our marketing and overhead dollars this new year. If you've not yet written your 2009 business plan it's still not too late. Whether you are a lone Wolf or a member of a huge Team your written plan is necessary for success!success_moneyman.jpg Success Money image by innet_album

First of all what is your goal for the year? What is your required income and how do you plan to get there? Or, do you plan to find a new company or make a personal move this year? All of these "plans" of yours must be written down, analyzed and planned for you to get there successfully.

How are you going to cut costs without losing business? Which areas of your dollars spent are gaining you the most return? Is that magazine you are putting your listings in getting you enough leads to justify the monthly payment?

What and where are your leads coming from? Are the leads viable? Of the closings you have had in the year 2008~where did the leads generate from? Was it word of mouth or from your advertising? Does it pay you to maintain an office? What about the overhead? Did you receive enough traffic generated by the office itself to cover the costs and put money in your pocket?

We are becoming a virtual world. Active Rain is the proof in the pudding. We are making friends we would never have had the opportunity to meet without this huge network of "us".

Use it. Social networking requires nothing of you but your time and sincerity.

Maybe it's time to expand your world and spend less money!

 

1. Analyze.

2. Write it down.

3. Adjust plan accordingly.

4. Keep detailed records.

5. Don't be afraid to try something new.

6. Learn Network Marketing~it's the wave of the future.

 7. Position yourself and stick to it.

And, don't forget to refer to your plan often. Track what is working and what is not and adjust the plan to your successes.  Check and review in writing at a minimum of once a month to track your progress. If it's not working simply do something else!

Out with the old and in with the new! You will find you can become much more effective and spend less money.The Key To a Successful Transaction is in the Hands of Your Agent, Brooks Prime Properties.

Work smart~Not hard.

Deb Brooks
Brooks Prime Properties Wichita Falls Texas - Wichita Falls, TX

Double Glazing? You didn't leave your name...good luck going green!

Charles, working smart doesn't have to be hard. A huge amount of client contact and simply placing your client's needs first goes a long way in this business. Don't work too hard my friend! I'm glad it's working for you. And, I guess it all depends on our definition of "hard work". I love what I do and rarely consider it work!

Happy New Year~

Jan 12, 2009 11:41 AM
Deb Brooks
Brooks Prime Properties Wichita Falls Texas - Wichita Falls, TX

Missy, yep. If it's not working then why spend the money. Nowadays each penny counts. We don't know what's happening in our near futures! Thank you my friend,

 

Jan 12, 2009 11:44 AM
Brenda Harmon
Century 21 Beal, Inc College Station, Texas - College Station, TX

Deb,

Are you and Scott husband and wife?

Good posts.  I am all for working smarter and cheaper.

Jan 12, 2009 12:12 PM
Deb Brooks
Brooks Prime Properties Wichita Falls Texas - Wichita Falls, TX

Cynthia,

That's what we're doing. I've always been a true believer of getting our name out there...it just doesn't have to cost so much! Less can be more!

Brenda, yes ma'am. At least I'll claim him...not sure about the other way around! LOL

 

Jan 12, 2009 12:53 PM
Stephen Kappre
KW Hometown - Mantua, NJ
Helping You Home

I'm working harder than ever regarding my goals and desired income. I have wonderful aspirations for 2009. I like your planning steps - easy to follow. We (I) too often make things WAY too difficult.

Jan 12, 2009 01:02 PM
Deb Brooks
Brooks Prime Properties Wichita Falls Texas - Wichita Falls, TX

Steve, You're right about making it too difficult! We just need to record our direction and goals. If we recorded every detail 2009 would be over before we got the thing written! LOL.

 

Jan 12, 2009 01:08 PM
Kathleen Lordbock
Broker/Short Sale & Staging Specialist - Crosby, MN
Keller Williams Realty Professionals

Am signed up for Keller Williams 32-12-3 class and will be blogging on year end goals etc as I go along.

Jan 12, 2009 01:14 PM
Diane Bell, Hilton Head Real Estate, Bluffton
Charter 1 Real Estate, Hilton Head, Bluffton, SC - Hilton Head Island, SC

Excellent advice---our brokers have been helping us with these ideas too.

Jan 12, 2009 01:31 PM
Deb Brooks
Brooks Prime Properties Wichita Falls Texas - Wichita Falls, TX

Kathleen, KW has a lot of great training classes. Take them seriously and learn all you can~good luck.

Diane, thank you. Hilton Head huh? I'm gonna look you up!

 

Jan 12, 2009 02:24 PM
Marcy Moyer
eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales - Mountain View, CA
Probate, Trust, and Investment Specialist

Del,

I agree this is a great time to take advantage of the Internet for advertising, education, and networking. It will help your bottom line, and keep you connected to the outside.

Marcy

Jan 12, 2009 02:31 PM
Cristal Drake
Prudential California Realty - Fullerton, CA
Realtor - Fullerton Real Estate

Deb, just what we needed in the new year!  Great stuff, thanks so much!

Jan 12, 2009 03:34 PM
Deb Brooks
Brooks Prime Properties Wichita Falls Texas - Wichita Falls, TX

Marcy, there are just sooo many awesome ways to advertise without spending a ton of money! Thanks for the comment.

Cristal, thank you my friend. High praise from one of my faves~

 

Jan 12, 2009 04:14 PM
Ryan Shaughnessy
PREA Signature Realty - www.preasignaturerealty.com - Saint Louis, MO
Broker/Attorney - Your Lafayette Square Real Estate Partner

It is amazing how many people don't have a plan.  Where it is generating leads, networking, blogging, increasing SEO, etc., I write down the goal, break it down to several milestones and then list the tasks.  I review.  I analyze.  I adjust.   Some agents sent the goal without having a plan.  It is like setting sail without a rudder.  Thanks for the good advice and great reminders.

Jan 12, 2009 04:57 PM
Judy Peterson
Berkshire Hathaway HomeServices Fox&Roach Realtors - Tredyffrin, PA
"Superb Service, Superb Results"

Good points on making a plan and making some tough decisions about what works. Interestingly, it's not just real estate that is shifting away from print marketing. Look at what's happened to newspapers and the way that we all get our news these days and the loss of advertising revenue. It's shifting to online advertising. Gotta follow the market.

Jan 12, 2009 09:26 PM
Linda Breeding
Keller Williams Realty - Pinehurst, NC

Deb - thanks for the reminder post. I'm closing the books for last year today. Business plan is partially done will finish by week-end. Also, a very critical analysis of expenses will be a large portion of the business plan. If it is not working cut, cut, cut! Oh my, guess I better get started................

 

Jan 13, 2009 01:26 AM
Bo Hussung
Bell Title /Triserv LLC - Nashvle, TN

Deb, I posted something close to this last night and frankly am a big proponent. Mine did not have as much depth. The only thing is I would change the wording of item number 6. Network marketing as a concept has been around since the beginning of time. The basic constructs of meeting people, building credibility and networking to that group is old. The only difference today are the vehicles in whic we do it. The vehicle is of course the internet, the name we now give it is social media. Thanks though, your post is awesome.
Bo

Jan 13, 2009 01:53 AM
Jacqueline Tolstyka
Coldwell Banker Schmidt Realtors - Cheboygan, MI
Realtor - Selling Beautiful Northern Michigan

Deb, Great information for all of us and me especially. I always have trouble writing a business plan. Print advertising has long been a waste of time except for the Sellers. Our leads are internet generated and I am always looking for good, cost effective cheap internet sites.

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Jan 13, 2009 05:57 AM
TIM MONCRIEF
Tim Monciref - Austin, TX
Over 2,000 homes sold…..

Down market are great for us to regain our focus and find errors on what works and does not work.  I just found out today that our group sold 25 homes under $250k.  We lose money on listing below $250.  Good slap in the face today.  Sometimes we need a slap to be smart. Nice post...

Jan 13, 2009 12:49 PM
Lori Churchill Cofer
Beasley Realty - Pullman, WA
Realtor - 509-330-0086 - Pullman, WA
Deb,
I think you really hit the nail on the head.  It is important to know what works and what doesn't and plan accordingly. 
I am relatively new to the AR network.  Like most agents, I joined put up my profile and that was that.  Then I kept getting the AR emails....finally got intrigued....started reading....started commenting...then finally jumped in and began to blog.  I read these stories about agents getting clients or leads from AR.  I have no doubt that these are live possibilities and that would be great!  But for me the real gold is in posts like this one!  Now I know why they make them little "gold" stars!!!!!!!

Lori Cofer Pullman WA

Jan 14, 2009 01:52 PM
Sheldon Neal
Bergen County, NJ - RE/MAX Real Estate Limited - Maywood, NJ
That British Agent Bergen County NJ

... love this blog ! ...will go back over my business plan tonight and see if I can enhance it ...

Great suggestions Deb !!

Jan 15, 2009 05:05 AM