What do you think is the one thing you must have to survive and thrive in real estate? Money? An impressive car? A large sphere of influence? If you guessed any of those, you’re wrong; it’s a Strategic Plan.
Every business coach stresses the importance of strategic plans, and successful Realtors live, eat, and breathe by theirs. That’s because strategic plans are the actual roadmaps that prevent them from veering off the paths that lead to their ultimate destinations.
You can take the crowded highway that average Realtors take or the right road to success, and no one can stop you!
Nothing has ever impacted my real estate business more than a strategic plan, and I am willing to share it with you. But be warned, it is not easy, and I read a report once that only 10% of people get past the first part of the plan.
It does not surprise me because it takes effort, some quiet time, some thinking and the fundamental challenging part, being completely honest with yourself and your present situation!
Think for a moment about a car’s GPS. It will get you to your destination, but only if you give it two critical pieces of information: where you are right now and where you want to go. In your real estate business, you have to figure those things out before you can do anything else, and they will eventually serve as the bookends of your strategic plan.
But first things first.
Part one of this plan is “the Brutal Truth,” where you’ll take inventory of where you are now and decide where you want to go.
The next part is “Aha, I Get It,” where you’ll learn the three core components of a killer strategic plan.
Then, the third and final part is where you’ll create “The Now I Know How Plan” based on what you uncovered in parts one and two.
Once you complete all three, these will be the cornerstone of your real estate business from this point forward.
We hear much talk about getting more sales and commissions in our business. What this talk is all about is getting more leads. Getting more information (or, more specifically, getting more high-quality leads) consistently is the KEY to getting more sales and making more money . . . Period.
What is the difference between the Realtors getting a ton of high-quality leads and those who need help or get a lot of low-quality leads?
- The Right Coaching
Do successful real estate people work harder? Of course, they do. The answer is usually that great Realtors have wiser strategies.
A Professionally Designed Business Plan
Less than 20% of real estate associates have a business plan. Without a detailed business plan to answer critical questions about your business and provide you with a platform for future growth, success in real estate becomes much more difficult. Our real estate and business plan outlines and evaluates all aspects of your real estate business and establishes a specific roadmap and process to achieve your goals.
A correctly laid out business plan differs from some pie-in-the-sky dream that you do once and then look at it 12 months from now. This plan is your foundation, created by the best business coaches and monitored by them! Again, we offer our associates that you would pay up to $10,000 per year individually for this in-depth career builder.
6 Questions To Ask Yourself For a More Rewarding Real Estate Career
1 How flexible are your hours? Realtors consistently rank flexibility as a reason they got into real estate. However, as they got busier, working late nights and weekends can interrupt family time because they are available whenever a client calls. What boundaries have you set for yourself? How will that affect your business? Income? Is time management an issue? With our systems, you can leverage your time to offer exceptional service and maintain a balanced family and social life.
2. Do you offer value every day to your clients? Real estate is one of the most significant financial decisions your clients may ever make; it is easy to lose sight of this with the day-to-day activities, interruptions, disruptors and servicing new and past clients. What systems do you have in place to offer value consistently?
3. What are some of the talents you have that nobody knows? If very few people know about you and your skills, you could be the best-hidden secret in the marketplace. Don’t hide!
4. Not happy with your earnings? Similar to question 2. Did you know your income is consistent with the number of skills and value you provide to your clients? Where, how, and what skills do you need to increase revenue? Your current income equals the value you currently offer.
5. Are you running your business, or is the business running you? Your current real estate brokerage considerably impacts a Realtor’s success rate, career growth and exit. Is your current brokerage providing you with a financial exit plan, mentoring or a leverage program?
6 Do you have one or two niche markets where you’re better suited? Are you a general practitioner? “I’ll take on anything, any buyer or seller, anytime, anywhere,” said Realtor. If so, enjoy the struggles, disappointments and frustrations and a yo-yo income. This is a very blunt statement; the brutal truth usually hurts. What niche markets can you master? Do you know how?