How Are You Reducing Your Expenses For Next Year?

By
Real Estate Agent with Coldwell Banker Dynasty

  I just recently finished my 2011 Annual Business plan and started working on a list of cost-saving tips to share with the group that I am training. Learning from my previous experience I would reduce some of my direct marketing expenses like less letters for "Expire Listings", only buy office supplies that are necessary and avoid getting new technologies that looks great but cost too much or take too long to learn. I would reduce my training and seminars which would reduce some of my expenses and have more time to work.


 What are doing to reduce their expenses for next year?

Comments (10)

Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Actually, I was planning to start coaching - thus adding to my expenses (and would cut on services I don't use)

Dec 10, 2010 07:47 PM
Cameron Novak
The Homefinding Center - Corona, CA
Featured Corona Real Estate Agent Team

My expenses are going up.  The axiom "you have to spend money to make money" is absolutely true.... unless you're talking about spending time on AR ;-)

Dec 10, 2010 07:56 PM
Eric Anderson
Eric Anderson Realty Group - Fayetteville, NC
Fort Bragg Military Relocation Services, Fayettevi

Song, the tightening of the belt and reduction of expenses can never hurt. However, I think it s important to keep up on training. Find free or less expensive trainings but keep going! Maybe even try to read more on your own and do some free webinars. As far as the letters, I agree with you there. Reducing paper and mailings is a great way to reduce spending and go green!

Dec 10, 2010 09:08 PM
Maureen Fukumoto
Help-U-Sell Realty Pro - Mililani, HI
Maureen

I'm not planning to reduce expenses as much as shift them around.  Print adverrtising isn't working for me so most of those allocated funds will go towards internet marketing.

Dec 10, 2010 09:11 PM
Brin Realty Associates Team At Bean Group
Bean Group | Brin Realty Associates - Amherst, NH
Amherst NH homes and Southern NH real estate

We need to invest in ourselves and our business.  The biggest mistake I see agents make is not investing in their own business.  I have cut back on print advertising and increased my investment in web related programs.

Dec 10, 2010 10:35 PM
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

I'm cutting my direct mail from 4 to 3 mailings and I am cutting my "farming" list.  I got rid of my fax machine and went to myFax and I will upgrade my Sprint pixi March 1 to an EVO that will mi-fi with my iPAD...I'll spend on USEFUL and HELPFUL technology.

I did UPGRADE to PostletsPRO from the FREE version because that html seems to get less flags on Craigslist and postlets is being picked up on Google Maps FOR RENT

Dec 10, 2010 11:03 PM
Dan Edward Phillips
Dan Edward Phillips, Humboldt and Del Norte Counties, CA - Eureka, CA
Humboldt and Del Norte Counties, CA

Good Morning Song, great post, it is time to make considerations.

Dec 11, 2010 12:16 AM
Lora "Leah" Stern 914-772-4528
Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY
Real Estate Salesperson

Spending less on print and mailings and more on internet based items.  I don't think I'd cut back on training, but you can make it more web based and cut costs that way.

Dec 11, 2010 11:50 AM
Song San
Coldwell Banker Dynasty - Rosemead, CA
Broker, MBA

Praful: Great ideas. Thanks

Cameron: The axiom is true, yet I found that we can always try to reduce and conserve and spend our money wisely.

Eric: Training is important, yet I think I might have took too much training that made me lost focus. Just needed to slow down a little and refocus.

Maureen: True, and I have been shifting about 80% of my offline budget to online.

Dec 12, 2010 06:11 PM
Song San
Coldwell Banker Dynasty - Rosemead, CA
Broker, MBA

Rene: I agree that we always need to invest in ourselves and our business. Thanks.

Wallace: Thanks for the great ideas.

Dan: Thanks. Let me know what considerations you are thinking of doing.

Lora: Less mailings and more web seems to be the majority. Thanks.

Dec 12, 2010 06:14 PM