Less than 5% of real estate agents have a business plan, and many agents don't have the financial resources to promote their plans.
If you're new to real estate or if you had little success in real estate sales, then the first thing you should know is the 80/20 Rule. The 80/20 Rule (Pareto's Principle - The 80-20 Rule) means that 80% of your income will likely come from 20% of your sources of business.
There are approximately 20 +/- sources of real estate business. For example, FSBO's, past clients, open houses, referrals, etc. However, of those 20 sources, 20% of them will generate 80% of your income, so to get the most from your resources, you should pick the top 5 that meet your marketing style and budget.
My suggestion is that you interview the agents that you work with and ask them what are their top 4 sources of business. Next, compile your list, and choose the top 4-5 sources that match your style and budget.
After you pick the top 4 or 5 sources of business, then write your business plan in a Notebook, not in a computer. Take 4-5 pages and at the top of each page Title it; For example, Open Houses. Then write down exactly what you're going to do to promote you open house, or FSBO campaign.
You should plan on doing something each day to promote your Business Plan for that specific source of business. The reason most agents fail, is do the fact that they wait for business to come to them.
"Failure, Is Do... To Your Failure To Do"
Here is a hint... and the best tip. Keep Your Phone Bill Paid, It's your #1 tool.
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