6. Why Do We Need a Plan?
“He who fails to plan, plans to fail”
Set goals and establish milestones
Set boundaries around work time & energy
Set time aside for family, vacation, and personal life
Determine your financial needs, goals and budget
Focus your efforts – work less, make more
Reposition your business to deal with changing
Create a business you can ultimately SELL
7. What Really Matters to You?
This is YOUR business plan – work in every aspect of your
life. This is the beauty of self employment!
8. What Should My Business Plan Include?
Transactional goals for the year
Lead generation goals
Marketing plan for each month
Staffing / Team Goals
Professional development, education, coaching
9. Mission Statement
A mission statement is a statement of the purpose of a
company, organization or person; its reason for
The mission statement should guide the actions of the
organization, spell out its overall goal, provide a
path, and guide decision-making. It provides the
framework or context within which the company's
strategies are formulated.
12. Transaction Summary
Average Sales Price:
My Average Commission Rate:
Average commission per transaction:
Number of transactions needed to meet annual goals:
Listing to Buyer Ratio
Total annual gross commissions:
Total adjusted gross commission after broker split:
Number of referrals needed to meet goal:
Percentage of business from referrals:
15. Traditional Lead Generation
Set specific goals – which of these actions are you going to
take? How often? Schedule them into your days, week and
16. Social Media
Random social media usage will NOT make you
money – it will just suck up your time.
Choose one form of social media you’re most
comfortable with or the most interested in, and spend
time just on that. Once you’ve mastered it, move on to
You do not need to be a Facebook user to be successful
in real estate. If social media isn’t your thing – don’t
waste time on it – spend your valuable time on forms
of lead generation that make you money!
17. Social Media Best Practices
Personal Facebook – pepper in real estate content, but don’t
dominate your sharing with business. Keep it to 10% of your
sharing so no one hides you!
Business Facebook Page – you must commit to updating it
once a day. Best to wait to create a Page until you’ve mastered
your personal Facebook profile skills.
Twitter – a great way to gather real estate news & helpful
neighborhood tidbits, and disseminate them to your
LinkedIn – ask your clients for testimonials! Very powerful.
Pinterest – create a board for your latest listing with beautiful
photos. Show your seller clients that you’re going the extra
mile to promote their home.
18. Referral Lead Generation
Create or update your current database
Target the people who have already given you referrals
(A and A+ clients)
Call past, current and potential clients and ASK for a
Host a client appreciation party
Send birthday cards, thank you notes, and personal
notes – check their Facebook for ideas
Stop by a past client or referral source’s home or office
with a small gift – also known as a “Pop By”
19. Pop-By Ideas
Coffee Syrup (like Egg Nog or Peppermint)- “Wishing you
a warm and wonderful Christmas!”
Wrapping Paper, Tape, Bows, Gift Tags - “Don’t get
wrapped up with holiday stress. Stick with me for all of your
real estate needs!”
Wire Whisk w/ Decorative Bag of Hershey’s Kisses -
“We ‘whisk’ you a Merry ‘Kiss’mas and a Happy New Year!”
Holiday Candle - “Don’t keep your friends and family in
the dark about me! I’ll provide the ‘light’ they need to make
the right home decisions!”
23. Business Budget Tips
Determine how often you want to budget (once a
week, month or quarter) – start with something
reasonable, and commit to it.
Determine your current expenses and
track, track, track
Make cuts at HOME before the business
There are countless tools to track your money –
software, iPhone apps, spreadsheets, pen & paper!
You must be willing to invest in yourself and your
business in order to be successful in this industry
25. Personal Finance Tips
Separate your business & personal accounts
Put yourself on a salary
Talk to an accountant about the pros & cons of
becoming an LLC or S Corporation
An accountant will be leading our February 12th
workshop – mark your calendar and come with
Dave Ramsey ~ Financial Peace University
9 week course
Cost is $95
Do you need HELP?
Part time or full time assistant
What would it be like to have X off of my plate?
What can I budget on a monthly basis to
delegate the most time-consuming
27. Team Goals
Are you trying to build a team?
What type of team members are you looking for?
What are your 1, 3, and 5 year goals for your team?
What you PLAN for is much more likely to happen
28. Professional Development
Coaching – Buffini, Mike Ferry, Tom Ferry
Continuing Education – when are you due?
Certifications – GRI, ABR, etc.
Seminars & Events – Buffini Turning Point highly
recommended! Richmond & Philly in 2013.
Networking with local agents – brokers opens, price
Real Estate Mastermind Workshops – commit for all of
29. Personal Goal Setting
How many days a week do I want to be available to
How many evenings do I want to work?
Which days (or pieces of each day) do I want to
purposely schedule off for personal/family/spiritual
How many vacations do I want to take a year?
Plan with CONCRETE numbers
“What you expect, expands”
30. Personal Goal Setting Tips
Most important: write them down!
Read your goals every day
Post them somewhere conspicuous
Find your WHY behind the goal – what do you value?
Break your goals into manageable pieces
How do you eat an elephant? One bite at a time.
Journal your progress
Check in with a business coach, accountability
partner, or your manager -> this piece is crucial
Celebrate when you achieve each milestone!
32. Top 6 Business Plan Mistakes To Avoid
33. Online Business Plan Workshop
Thursday, December 13, 2012 at 12:00pm EST
Today’s the day. It’s time to lay the groundwork for your best year
ever. In this workshop we'll review the 2013 Market Leader Real
Estate Business Plan. This free guide covers the hottest topics in
today’s real estate market, including:
--The most pressing challenges facing agents like you
--What it’s like to be a consumer in today’s online-centric world
--The must-have tools for success in 2013
--Worksheets that offer step-by-step methods strategies for
34. Discussion Questions
Do you track your numbers
(transactions, volume, average commission, average
sales price)? What tools do you use to track?
Have you reviewed where your business comes from?
Do you set annual goals?
35. Discussion Questions
Do you display your goals somewhere in your home
or office space?
How is today’s market different from the market 1-2
years ago? What changes do you think you need to
make for a stronger 2013?