The 4 Elements of a Great Real Estate Business Plan

Business Plan ChalkboardWhat’s the difference between a Real Estate Agent who uses a business plan and one who doesn’t? Over $100,000. But a lot of Agents make business plans… they even spend a lot of time on them.  But they just don’t follow through.  

Why?

A business plan has to make sense for you and your unique business. It has to be compelling–clear and motivating so that it’s always at the top of your mind.

It’s tricky.

The business plan has to be comprehensive, covering all the different aspects of an Agent’s career, but still simple to understand and follow. Think about a smart phone. It’s complicated on the inside but still easy-to-use and intuitive for us, the user.

 

First thing’s first.  Routines and Systems.

 

An exceptional plan must be built around routines and systems.  There are systems for daily activities, weekly activities, and those things that crop up more infrequently.

 

Next, track your numbers… the right numbers.

 

Great plans have the kind of goals that will motivate you to look at them every day. The plan can’t have a ton of numbers to track, and the numbers have to be simple to record yet provide a lot of insight. Those numbers must very simply and clearly indicate how you are doing, what is working in your business, what isn’t, and what to do next.

 

Get your skills set.

 

It’s no secret… every Agent has strengths and weaknesses. It’s so hard to know what skill is most important to work on. Is it more important work on prospecting or presentation skills?  Internet marketing skills or traditional marketing?  Expireds, sphere of influence, organization, time management? This is a huge problem and distraction.

A great business plan reviews all the possible skill choices and identifies the strengths and weaknesses that are helping or hurting the Agent most. Then the plan leads the Agent to create a strategy to work on those priority skills. So that at the end of 2015 the Agent is much stronger, more confident and producing far more.

Those are three areas on which a great Real Estate Agent business plan must be clear and concise. Efficient and effective routines and systems is one. Motivating goals and progress is two. Priority tactical skill development is three. But there is one more area that you can take to the bank, along with thousands of dollars more per year.

 

What are you THINKING?

 

You’ve heard before that “the definition of insanity is doing the same thing over and over and expecting different results.” Our version would be, “the definition of insanity is thinking the same thing over and over and expecting different results.”

To get exceptional results you have to go deeper than doing–you have to change your thinking. The fourth skill set of a great Real Estate Agent business plan is the mindset and attitude that permanently changes your thinking.

A great plan leads the Agent to identify weaknesses in thinking. Then it gives the Agent the tools, the actions, and the system to overcome those most costly weaknesses.

Let’s get started.

The Real Estate Grad School 2015 Business Planning Workshop begins November 20. Sign up now at www.RealEstateGradSchool.com/workshop to create that plan for a 2015 with record production, income increases that change your lifestyle, and a higher quality of life.

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The Four Elements of a Great Real Estate Business Plan

What is the difference between a Real Estate Agent who conscientiously uses a business plan and one who doesn’t?  Over $100,000.  Agents who follow a plan earn much more than Agents who don’t make a plan or who don’t follow through.

Why do so many Real Estate Agents create plans and then drop them? Read More…

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