OCTOBER is Business Planning Month!
WBNL Coaching and Home Connect America are offering their complete Real Estate Business Planning and Goal Setting Video Course and all supporting downloads for FREE!
3 Steps to a Powerful Real Estate Business Plan
Learn and implement the three steps to real estate agent goal setting and business planning.
- Write your goals and desired outcomes
- Create a written business action plan
- Measure and track your activities and results
Just visit this page to register for the FREEE course and to access all the Business Plan templates: http://joinhomeconnectamerica.com/blog/
In the next 3 Episodes we will break down the 3 Steps to a Powerful Real Estate Business Plan
Today, we want to share a critical pre-step and give you some homework to be ready for 2020 Business Planning – YTD Review of your business. We have outlined some steps and suggestions to conduct this annual review and analysis of your business. You have to know your production numbers, determine your return on investment for any major expenditures and get an overall picture of what has worked and not worked as anticipated this year.
Break-out your business plan and review your goals and business action plan for 2019. A Year to Date review is included in your WBNL Coaching Real Estate Business Plan to record your key numbers for the year. The spreadsheet will do some auto-calculations for you.
- Listing Taken, Listing Sold and Closed
- Buyer represented sales in escrow and closed
- Listing Sold Volume
- Sales Volume
- Average Days on Market
- Types of Transactions
Next, identify the SOURCES of business. This step is critical for helping you analyze a return on any marketing investment and deciding where and what to focus on for the coming year.
Assess Your Target Markets. What are the 3-5 target markets or niches you have focused on during the past year? What is your return on investment for each? Based on your initial analysis, what do you want to continue or refine for next year and what should you consider changing or dropping?
Update your personal and business budgets. Have you been tracking your actual expenses against your proposed budget for 2019? Have you incurred additional or unforeseen expenses? Where can you make changes or adjustments in your budgets?
Track Your Production. Use the Business Plan template to record your transactions year-to-date. Keep track of your closings, pendings and active listings to assess if you are on track to meet or exceed your goals this year.
Revisit Your Success Action Plan. Do you need to make any adjustments to your activities and strategies? Do you need to recommit to your daily, weekly, monthly activities for attracting business?
- Guide Book: 3 Steps to a Powerful Real Estate Business Plan
- Goal Writing Worksheets
- Real Estate Business Plan (Excel Spreadsheet)
- Income & Expenses Statement
- Business Budget
- Personal/Home Budget
- Success Action Plan