Texas REALTOR® Magazine Minute – May 2017

If you’re like most real estate agents, you’re not following a business plan. And that means you’re probably not reaching the level of success that you could. Here are 3 things that should be in your business plan: Your mission statement This will pinpoint what you’re trying to accomplish. How you’ll market yourself What will your marketing say? Where will it be placed? How you’ll build revenue That third piece, revenue, confuses many real estate professionals. A lot of templates found online for traditional business plans are geared toward getting a small business loan and often include revenue projections that real estate agents aren’t equipped to make. Don’t worry about income, cash flow, and personal financial statements. And ignore jargon like product diversification and channel distribution. Focus instead on how you’re going to achieve your financial goal. For example, how you’re getting leads and what you’re going to do to convert them. Learn how to create a plan for your real estate business in the May issue of Texas REALTOR® magazine. Find it at T-X … ah, you can read it.

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