BUSINESS PLAN = SUCCESS

You've heard this before. You KNOW you should do it. But you don't do it. It's not complicated and it's not painful and you can do it in one day. It costs nothing. And yet you still don't do it. It can increase your income, lower your stress level and give you a positive attitude. So why don't you do it???

I've been searching for the answer to that question for years. I started training agents 24 years ago and the first thing I have always told them do is write down a business plan. Prior to real estate I managed government-funded programs and we couldn't get grants approved without a business plan. Some of them were hundreds of pages and took a couple of weeks to put together. We are fortunate that real estate doesn't require anything that extensive. But it does require a basic plan including a SCHEDULE, a BUDGET and MATERIALS. You can even start by simply writing down all the things you can think of that you need to do and have for your real estate business. Once you have your list you'll start to see how to organize it into a basic plan. Here are some ideas to help you get started:

Begin your business plan with 3 general sections: (1) Schedule, (2) Materials, (3) Budget. Obviously, we will always need flexibility and we always need to be revising as we learn what works and what doesn't. . When someone appears in front of us needing our services, we take care of them first and amend our schedules later. If a family has 3 days leave for house hunting you will be doing little else for those 3 days. You can re-schedule some activities and delegate others. 

(A) SCHEDULE. You should have an annual, monthly, weekly and daily schedule. Use whatever format is comfortable - computer, minder, wall calendar, combination, etc.
 
Types of MONTHLY activities: 
1. Mass mailings ( email or snail mail): to geographic or demographic farms, past customers, circle of influence, prospects and suspects
2. Education: physically attending training sessions, online courses and seminars, reading printed materials or listening to CDs
3. Ordering supplies: office supplies, marketing materials, sales and listing materials
4.  Follow-up phone calls (past customers & referral sources)
5.  Networking & meetings with other than real estate , Holding seminars

Types of WEEKLY activities: 
1. Visiting your geographic farm
2. Submitting ads
3. Updating your website
4. Updating buyers and sellers
5. Previewing new listings
6. Going on listing appointments
7. Meeting with new buyer "suspects"
8. Meeting with your staff or office or other support personnel

Types of Daily activities: 
1. Reviewing MLS
2. Checking email
3. Reviewing pending transactions
4. Returning phone calls
5. Exercising and eating nutritious and regular meals (don't laugh - this is the least likely thing agents do on a daily basis!)

(B) MATERIALS. 
1. Promotional materials such as post cards, email newsletters, brochures, business cards, calendars, magnets, FSBO & expired materials; selling and listing folders with all required forms; disclosure brochures, etc; listing materials such as  yard signs & riders, keysafes, brochure holders, listing presentation; relocation materials; office supplies. Find a reliable and well-priced source for all the materials you need and keep your inventory up-to-date. You should have a "stash" of the the materials you use regularly ready to "grab and go". Nothing makes you feel more stressed than having to assemble or find the materials you need for the your next appointment - in one hour. Your well-organized materials will give you the confidence you need to do a professional job and will set you apart from all the "winging-it" agents.

(3) Budget. You should be spending 10% or more of your gross income on follow-up with past customers, self promotion (farming, etc.), advertising, networking and associations and equipment. Be sure to track the business you do for its source so you will know where best to spend your money.