Do you ever find it hard to follow your own advice? I know I do, especially when it requires putting something fun off in order to get it done. I'm talking about prioritizing and it's the hardest thing for many real estate professionals to do (myself included). Now that the hay day of real estate is gone having a solid business plan and staying on task is more important than ever before. This year, you owe it to yourself to set some realistic goals, outline the methods in which you will achieive them and follow through with it every day, even if that means you don't get to go skiing, fly fishing or golfing (or whitewater rafting). A realistic, written business plan will not only help you close more transactions, it will help you create a steady flow of business and break away from the "paycheck-to-paycheck" mentality.
Sit down in a quiet room, sip some coffee, start writing.
Sounds easy enough, right? Wrong. For those of us who can't stop moving, finding quiet time in today's hectic lifestyle can be daunting to say the least. Or if you're not that busy then you don't really have an excuse. If you don't have a written, daily plan that you follow to the letter you're going to find yourself spinning your wheels while at work, which translates into fewer closings.
What if I don't have a solid plan in mind?
Then go back to basics. What was the first thing you learned when you became an agent? That people have to know that you're in the business if they're to pick up the phone and call you. Therefore, it could begin with something as simple as calling 10 people (or mailing letters, or emails) in your SOI every day. Then add other lead-producing activities from there. I'm not even talking about selling. Just reach out and say "Hello! Remember me?" Work it casually into the conversation that you have some great listings and are looking for buyers. Someone you know knows someone else who's not yet working with a Realtor. C'mon people, this is basic!
What if I'm not a good writer?
Get over it. Nobody will be reading or critiquing this. It's not about being well written, it's about being realistic and staying on task and doing better than you did last year. If you're still struggling, try writing out your daily schedule, e.g., arrive at 9am, get coffee, turn computer on, check emails, etc... The idea here is to plan your daily activities at least a day in advance. Who you'll be calling, what you'll be talking about, how many EXPIRED letters will you be sending and so on and so forth.
I don't need a business plan, I'm good at managing my time.
Even if you are a time managment master, are there ever times during the day that you aren't sure about what you ought to be doing? How much time are you spending chasing leads instead of generating a steady flow of business? After all, isn't the intent to attract business rather than chase it?
What if I just don't want to do it?
Then I nor anyone else can help you.
Yes it's true that some people can experience great financial success without a written business plan, but this is the exception to the rule. For the most part, in this challenging market agents that don't follow-through with what I'm suggesting here are destined for doom. Simply stated, they will not be able to afford to stay in the business.
Today's savvy consumers expect real professionalism from their Realtors. Part of that is staying in front of your prospects and often includes completing tasks you don't want to do at the time. With the downward trend in the market the competition is tightening and consumers are aware. So do something good for yourself this year and write up a realistic business plan. You owe it to your clients and you owe it to yourself. Now all I have to do is follow my own advice.
Happy New Year from Whitefish, Montana! All the best as you go forward in 2011!
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