Comments on: BUSINESS PLAN

By: Mark Dorsten

Mark Dorsten — Thu, 05 Jan 2012 20:57:15 +0000

Few people realize a Business Plan can be reduced to a buzz term called "Metrics". Simpley put, those are the shortest numbers necessary to monitor your business. Once you learn your Metrics, you will stay on Plan.

For example, If you know a newspaper display add customer costs $100 and you close 1 out of 3, then your customer cost is $300 per transaction. If an internet based lead costs $12 and you close 1 out of 10, your customer cost is $120; much better if you have an efficient lead evaluation process.

Do not make the mistake of investing the same amount of time with a $100 lead as a $12 lead and you will exceed your targets every quarter.

By: Logontoyoumoney

Logontoyoumoney — Mon, 09 Nov 2009 12:57:02 +0000

Nice one. . .

Thanks for sharing with us. . .

By: Sham

Sham — Wed, 25 Feb 2009 02:42:20 +0000

Great Post. Infact most of agents make short cuts and rouine is in auto pilot. Its important to have one which can give direction.

By: Kim

Kim — Wed, 30 Nov -0001 00:00:00 +0000

Thanks for this great information and tips! You can also look up business plan workshops in your area. When you all are done with those plans, There

By: Matsonian

Matsonian — Wed, 30 Nov -0001 00:00:00 +0000

For those agents who are intimated by a business plan, they are not alone. Most entrepreneurs and independant contractor types are DOers not PLANners. I recommend that they forego the business plan in favor of a simple strategic plan which is a much more flexible and living document. Business plans, really, are designed to be seen by financiers, strategic plans are meant to be followed to achieve a successful outcome. Programs like QuickPlanner Plus < http://www.quickplannerplus.com > guide the user in creating an plan for any subject or any need. Perfect for the real estate industry.

By: Robyn Hardy

Robyn Hardy — Wed, 30 Nov -0001 00:00:00 +0000

Thank you for breaking that down for us. It’s extremely hard for agents to know where to begin and most experienced agents have never put a business plan in place. It is up to their leaders to guide them. I used to start my agents with a Vision Statement and a Mission Statement then produced the business plan. The vision statement is imperative to keep the focused on why they are doing those open houses etc. The mission keeps them on task and the plan is road map. The Cyber Recruiter has an awesome real estate business planner built into their broker recruiting websites. You can see a sample on their demo site http://www.choosetherightcompany.com and go to the training button on the bottom left. Read the intro page and take a look at the activity planner, then click on the business planner banner in the middle of the screen. I wish I had this tool when I owned my brokerage!!!
The last piece of a business plan is accountability. If you don’t hold yourself accountable then you may as well not waste your time writing one. However, for those resistant agents I created a very quick plan…one listing and one sale a month and I would hold them accountable. It’s a start. By consistently doing that some of my agents built amazing businesses.

By: Dallas Homes For Sale

Dallas Homes For Sale — Wed, 30 Nov -0001 00:00:00 +0000

Thanks for the great post, just in time for the new year. I’ll be applying one this year for sure!

By: Keith Dobbs

Keith Dobbs — Wed, 30 Nov -0001 00:00:00 +0000

Thank you so much for this insight. I’m telling all my agents to get these strategies underway immediately to pony up for the new year!

By: Dallas Real Estate

Dallas Real Estate — Wed, 30 Nov -0001 00:00:00 +0000

Great post, this is especially true with today’s market conditions. It’s very hard for newly licensed agents to get started in a down market. A good business plan with a solid strategy is essential.

By: Dallas Condos

Dallas Condos — Wed, 30 Nov -0001 00:00:00 +0000

I agree agents need a business plan, I think more agents would fair better if they had some sort of plan to follow. So many times we see & hear about agents that are not focused and have no plan. I think it’s great that you have provided this information for all agents to benefit from!