Special offer

Business Planning for All Realtors

By
Real Estate Agent with Keller Williams Realty BK439819

Do you realize we have less than 60 days left in 2009?  As I and many of you have experienced, 2009 has been extremely challenging in real estate to say the least. After experiencing the many road blocks thrown at us this year, how are you planning to excel in your real estate business in 2010?

I start at this time each year (any sometimes earlier) to reflect on the things I did well throughout the year as well as those that didn't turn out as I had thought.  I analyze each aspect of my business and prepare to make changes for the upcoming New Year.

First, we must know our numbers. Knowing our numbers is key.  How many Buyer Sales did we have?  How many Seller Sales did we have? How many listings did we obtain this year? What was our gross commission? What was our net commission?  Without these questions being answered, we can't plan our respectable 2010 budget or business plan.

Second, write out your business plan. If your company doesn't have a sample copy for you to use, then Google "Free Real Estate Business Plans". You should be able to download one from the net. You will find that filling out your Business Plan will energize and excite you.  In preparing my business plan, it energizes me so much that I end up having a much better and more profitable 4th quarter.

Third, plan your budget. You should know what your business needs to survive and you must make at least that much each month.  I have been able to cut my business expenses way back (especially my advertising and marketing costs) in light of all the Social Media and free online advertising sites available to us.  Even my mass emailing, supplies and website costs have been lessoned and without jeopardizing the quality of service I offer my customers and clients. In fact, it is the exact opposite.  Practice makes perfect and my 2010 budget looks like the most practical, effective, and efficient I have ever had.

Fourth, it is "a must" to have checklists and procedures in place (and to use them).  Checklists can streamline your business and keep you organized and "on task".   They take the guess work out of what needs to be done.  I have a checklist for everything my assistant and I do. Even though I have been in the business for 22 years, I have checklists for everything from listing appointments, new listings, new pending sales, closings, etc.  Maybe that is why I am still in the business and enjoying it.

Finally, I am sure you all have and maintain a schedule.  Be sure in 2010, when preparing an outline of your schedule, to include time for yourself.  If you don't, you'll get burned out.  I promise.  I have a set schedule during normal working hours.  If I choose to work after hours in real estate, I keep it flexible but I won't budge on my personal time. That is an appointment with me and I deserve it.  All your clients need to know is you are booked at that time.

So plan well and you will have a fantastic 2010.

 

 

 

Anonymous
Jim Pye

Julie:

Thank you! We have a planning meeting this afternoon and your blog has been moved to the top of the list. Thanks again!

Jim Pye

Nov 05, 2009 05:53 AM
#1
Julie Boyd-Elrod
Keller Williams Realty - Orlando, FL
Realtor®, Broker Associate, and Investor

Jim:

You're very welcome Jim.  I'm glad I could be of service.  So many, many times, this very important task is overlooked. 

On to an awesome, financially rewarding and fun 2010!

Julie

Nov 05, 2009 05:59 AM