How To Create The Simplest Real Estate Business Plan

When you start working for yourself, you heard the words “business plan” thrown around a lot. People have asked me if I ever used a one as a realtor, and if so, whether or not I ever updated it. I ABSOLUTELY used a business plan and I updated it constantly.

Think of a business plan as a road map to your success. When I created my plan, I kept it simple by focusing on 3 main areas: Finance, Marketing, and Operations.

• Finance obviously dealt with the fiscal aspects of my company like sales goals, commission goals, average sales prices and so on.
• Marketing explained how I was going to reach my finance objectives and the strategies to promote my brand; whether it was through referrals, vendor networks, or other means.
• Finally, Operations related to who was doing what. I was responsible for all of the operations in the beginning. However, when I got bigger and had a team, this section of my business plan started expanding.

In short, business plans are essential to keep you going in the right direction. You might think you want to make $200,000 in commissions in a year, but how will you get there? PLAN IT OUT and make it happen.

PS – create your own killer business plan in five minutes!

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