I'm new in the industry, but I am reading a lot of RE books. They are all talking about putting together a business plan to help you start out, etc.
I have done a "business plan" in one on my college courses, but it was for a made-up company. So my question is, how (or what to include) in my personal business plan for real esate? Is anyone willing to share there's with me? I'm just looking for ideas and how to get started.

Side note: I just finished reading "21 Things I Wish My Broker Had Told Me" and it was EXCELLENT!! I advise anyone (especially newbies, like me) to read it!

Thanks in advance!

Pick up the book "The Real Estate Agent's Business Planner" by Bridget McCrea. It will offer you a good primer for what to expect. Hope this helps.

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Ryan Ward, REALTOR® - Keller Williams Realty Consultants. (404) 630-3187
Atlanta Real Estate - My featured area is Alpharetta Real Estate and it is where I call home. Read my Atlanta Real Estate blog.

Ryan's right on this one. I have read it and think that is an excellent place to start. Also you need to make sure that whatever you do, you start with specific goals and just focus on them. Of the agents in my office, the ONLY ones not succeeding are those who constantly are looking at others' issues instead of head down focussing on their next objective.

Best;

Eric

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Eric Blackwell
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Ok Pretend that business is now your real estate business.

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Bay Area Real Estate | Free MLS. Coming to CA and like to know Things to do in California.

Go to Tom Ferry's website and registar and you can download a business plan there wich is quite extensive......also you can go to Trae Zipperer's site and the free plan there will actually print out what your targets will have to be dailey, weekly, monthly to hit your goals. This is not very detailed but gives you target goals and could be used in conjunction with another plan wich is what I did. Brian Rodgers site also has an extensive plan available for free as well. The sites are www.yourcoach.com, www.beyondsales.com and www.brianrodgers.com. Good luck. P.S. I used the one from Tom Ferry as my plan and Trae Zipperer's as my goal sheet.

Focus on the essentials - where you're going, how you're getting there, and what it's going to take for you to get there. I would suggest making the following decisions:
1) Goals - What do you want? Make them clear, concise, measurable, and achievable.
2) Services You Provide - you don't want to be the "jack of all trades & master of none" - choose residential or commercial, buyers/sellers/renters, and what area(s) you want to specialize in. My agency is strictly residential, so that's what I know - new agents tend to have the most success with buyers/renters and then move on to listing homes after they've completed a few transactions.
3) Market - who are you marketing yourself to?
4) Budget - consider yourself "shariok, inc." and write down EVERY expense that you have - gas, groceries, cell phone, etc... Then write down the new expenses you're taking on - board dues, increased gas, increased cell usage, marketing (very important), etc...
5) Funding - how are you going to pay for your budget w/ no income for the first (at least) 60 days? With the goals you've set for yourself, when will you break even?
6) Marketing Plan - how are you going to get the word out about your services? The MOST effective way to market yourself is to your own sphere of influence (people you know). Make sure you do so effectively and systematically. I've been very successful, and have seen my agents have considerable success, using Buffini's "Referrals By Design" www.buffinisystems.com - he has a new "100 Days to Greatness" program that is awesome. There are many other referral systems - just pick the one you like and stick with it. Bottom line...you'll spend less money and see more results marketing yourself to referral businss.

This is what I would suggest - hope it helps!

Eric

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Eric Bramlett

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