By Cheri Alguire
Remember the “best made plans of mice and men often go astray?” The old adage applies readily to your business plan if you do not manage your time effectively and/or delegate activities when needed. You can have the most inspirational vision, the tightest budget, the most sensible production plan, but if you don’t have the time or resources (staff) to accomplish the goals, you are little better off than when you started.
To better understand the importance of the concept of time management, take a look at how you …

By Cheri Alguire
Like the budget, writing a production plan for success is a lot about numbers. Black and white. Hours, dollars, and widgets. There is a sensible layout to follow. You map out the big picture by breaking down your transactions to quarterly and monthly goals. You examine the buyer sales, listing sales, and number of new listings it takes to produce the income needed to support the budget. Easy, right?
Well, straightforward, maybe. Easy, no.
Production planning is as much about problem solving and perspective as it is about the numbers. …

By Cheri Alguire
With the constant bad news about the economy, everyone is talking budget these days as if it were a new and exciting phenomenon—just discovered!
* How to save a buck
* How to budget for a successful future
* How to make your dollar stretch the farthest
The truth is that there is nothing new, trendy, or sexy about budgeting. A well-planned budget is simply the most practical aspect of your business plan—and one of the most important. It’s also not that much fun. But if you think about it, if you …

It is almost time to begin creating your Business Plan for next year. One important part that is often overlooked is what I call the Development Plan. A Development Plan helps you to look at your overall business in different specific areas.
A great story is told by Jeffrey J. Fox in HOW TO BECOME A MARKETING SUPERSTAR. It is the story of Pablo Picasso, dining at an elite New York City restaurant and being approached by a socialite who presumes to ask him for a drawing.
Fox relates, “Picasso grabbed some …

I am often asked, What do you say when a For Sale By Owner seller says [asks] …? I always have an answer for every FSBO objection, but only because I have the advantage of both knowledge and skill over the FSBO seller. Here is a list of common FSBO seller objections and a quick follow-up statement for the listing agent.”
They say: “I’ll save money. I won’t have to pay realtor commissions.”
You say: “Well, you may save a portion of the commissions; did you know that over 90% of the …

I am often asked, “What do you say when a potential seller asks…?” I always have an answer for every objection, but only because I keep the objective of the conversation IN MIND at all times. Here is a list of common seller objections and a quick follow-up statement for the listing agent.
They say:“I am going to try to sell it myself.”
You say:“I am just curious, how do you plan on marketing your home?” “…representing the buyer?” “…responding to buyer leads?” “…being available for buyer showings?” (seller response) “If you …

No doubt about it: when you set out to complete your goals, you will need a functional team to support you. Think back to your goals. Are you going to be able to handle that kind of volume and all the paperwork and follow up that goes with it? Probably not. Chances are, you will need a team of assistants and buyer agents to help support you as your business begins to grow. Team members may wear many hats, and you will need to structure your organization to facilitate your …

As a real estate agent, it is important to know your value. Your value is determined by what you have to offer the consumer. It is important to remember that consumer perception is consumer reality. Every agent on the path of success must be able to answer the following question from a consumers point of view. (We all need to answer a version of this very basic question and answer it very, very well.) The question is: Why should a consumer work with you instead of another agent? Or, why …

I am often asked, “What do you say when a buyer asks ?” I always have an answer for every objection, but only because I use a method for analyzing every objection. Here is a list of common buyer objections and a quick follow-up statement for the buyer agent.
They say: “I am too busy to make an offer or even look right now.”
You say: “I am just curious, is there a way you can schedule your week so you can home search for two hours? I don’t want to see …

I have had an enormous response from you all about the first set of Real Estate Scripts. I had a couple of you send in more examples of objections and some that felt like they were being trapped by the expired real estate leads they were talking to.
It is true; some consumers like to set traps for unsuspecting agents. Armed with an attitude of sincerity and motivated by the opportunity to secure a new listing, every agent needs to avoid the traps set by expired home owners.
They say: If I …