real estate business plan Archives - Wade Webb Real Estate Coaching

Q1 2023 Review & Assessment Time For Agents.

Wade Webb on April 5, 2023

It’s Q1 2023 Review & Assessment Time For Agents.

I cannot believe it myself the first quarter of 2023 has come to an end. Time really does fly when you’re having fun! Now is the time as a real estate agent to review your Q1. Are you behind your goals? Ahead of your goals? Just right where you targeted for your start to the year? We are now entering into one of the typically best quarters of the year; Q2. My question to you is… is it time to change things up? This week we look at some critical steps to take today if you are not on track:

1. Take Some Time To Look At Your Status

What is your current situation? What are your biggest challenges or issues you are facing? What were your goals and why you wanted to accomplish those goals?

2. Measure Your Quarter

What were your numbers for the first quarter? How many calls? How many appointments? How many presentations? How many Listings? How many buyer agreements? Don’t measure your quarter success solely on results but even more important is measure your quarter on activities. You have to be faithful with your activities to receive the success you deserve.

3. Growth Checklist

Based on the first quarter and what the numbers are saying what do you need to do different? What do you need to do more of? More leads, appointments, follow up, conversion, presentations and contracts this quarter? What changes need to happen to achieve your goals and breakthrough this next quarter in Real Estate.

4. Working On Your Business

How does your operation, systems and automation look right now? Do you have systems and checklists for everything in place? Are you leveraging with someone or something else that is generating you business while you are busy being busy or getting some sleep? Time to schedule that hour of power a day and work on your business and not always in it.

5. Time For Help?

Is it time to delegate the low dollar productive activities and free up time for you to focus on the high dollar productive activities? Remember someone or something else doing the low dollar productive activities as better than you doing them, right?

6. Sales and Marketing

Is what your spending and doing generating a return on your time and investment? How are you positioned in your marketplace? Is your unique value proposition to the customers being communicated in all your materials? Growing your business is no small task and there are many different moving parts.

7. Income and Expenses

How much are you spending? How much should you spend to meet your goals? Are you profitable? Do you take time and measure your expenses and the R.O.I.? Remember we are in this to make a profit and not all about the gross income being less than the expenses.

8. Technology

Is technology ruling you or are you ruling the technology? How much technology is enough? Am I relying solely on technology and not enough on old fashion full contact with people belly to belly? We all need to embrace technology because it isn’t something that will just go away. In the same breath we need to not just rely on technology because sales always has and always will be a full contact sport.

So there you have it 8 solid points to help you turn your year around and really make Q2 the best quarter of your year. Click to download your complimentary 2023 Agentsboost Business Plan!

Take the time to look at your first quarter numbers and your goals and refuel your “why” for crushing it in the second quarter of this year. I dare you!

Strength and courage,
Wade

Business Plan for the Successful REALTOR© 2022

Wade Webb on November 3, 2021

A mentor of mine said to me “agents aim for nothing and hit it with amazing success!” 2021 is wrapping up and what did you aim for? What did you hit? It is the perfect time of year to aim for something in 2022 and hit it with amazing success! So when 2021 begins to wind down you should not wait until the very end to start planning for 2022. This means having a crystal clear understanding of the successes and challenges of your current year, how it impacts your upcoming year, and developing a vision of what you want to accomplish, and how. Many agents aim for nothing every year and most hit it with amazing accuracy!!

I believe you should always start working on your next year strategy months in advance of the new year. This awards you enough time to make an impact on your final quarter, and lay the groundwork for making sure your next fiscal year starts off on a solid footing. For agents who want to achieve greatness, push the envelope, and grow their business through market share, market penetration, paying down debt, increasing sales, profits and cash flow, I urge you to get going now! The way I see things is, if your business isn’t growing, pushing the envelope, thriving, and maximizing profit, then all you’re really doing is suffering a slow death.

Believe me, your competition is fighting the fight every day, and they didn’t wake up in the morning and say “Gosh, golly, I hope I stay even in 2022.” They want to eat your lunch, take your business, absorb your market share and steal your customers away.

Some people might ask me if they should start planning by looking at their competition, and I say NO. Why focus on the competition, instead of focusing on yourself? When it comes to my business, I don’t care what others do. I care about what I do. Recognize your competition for what and who they are, and then put your best foot forward by pushing the envelope in your business. You should approach the new year as if you are going to battle, and for that you should develop a strategic plan.

Business Plan – a written document that describes in detail how a business, usually a new one, is going to achieve its goals. A business plan lays out a written plan from a marketing, financial and operational viewpoint.

FACT:
LESS THAN 3% OF REAL ESTATE AGENTS HAVE A BUSINESS PLAN

FACT:
ESTIMATED 3% OF REAL ESTATE AGENTS IN NORTH AMERICA DO 97% OF THE BUSINESS

“If you fail to plan, you plan to fail.” Writing a business plan may seem a daunting task as there are so many moving parts and concepts to address. Take it one step at a time and be sure to schedule regular review (quarterly, semi-annually, or annually) of your plan to be sure you are on track to meet your goals. It is that time of year again when we begin to build our plan for 2020 so let’s look at the key areas of the agent’s solid business plan.

Business Plan for the Successful REALTOR©

Step 1) “Success and history always leaves us clues.”

I began by looking back to identify the clues that have been left for us and the business. I would look at the real estate market first and search for the following clues.

What have the number of sales been doing the last year? 2-5 years? Up? Down?

What have the number of listings been doing the last year? 2-5 years? Up? Down?

What have the average and median prices been doing?

What price ranges are experiencing more activity? Less activity?

What neighborhoods or areas are experiencing more activity? Less Activity?

What property types are selling more? Less?

What buyer types are buying more?

Where are the buyers coming from? Local? Next state or province? Over Seas?

Imagine the targeted and strategic plan you would be able to build for you and your real estate business with this kind of information? Now you are not just winging it. You really know where and what to focus on.

Step 2) Looking At The Present State of Your Own Real Estate Business

What have my sales been doing? Up? Down?

What have my listings been doing? Up? Down?

What is my average price? Can I raise my average selling price?

What is my Gross Commission Income doing?

What is my average deal worth?

Where are my listings and sales coming from? Sources of business?

What types of buyers do I represent?

Where are the buyers coming from? Local? Out of area?

What are my pending sales?

What do I have for potential buyers and sellers?

What is working? What is not working?

What do I need to start doing again? Stop doing?

What if you took the time to really track and measure and reflect on your business at a deeper level and see your strengths, weaknesses and opportunities of yourself and your own business?

Step 3) Activity Plans – Take the time to lay out your activity plan calendar a year in advance.

Focus on the activities you know you are good at and you see a return on your invested time and money. I am guessing for most agents it would be your sphere of influence, referrals and face to face or voice to voice activities. Set up a schedule for a month or two in advance of your activities for generating business. What is the activity? When? How? To Whom? Track and measure each of these scheduled activities to help identify the best of the best.

Step 4) Budgeting – Profit is the goal in business.

Knowing what your personal life and your business world cost you monthly is so important. Expense management is just as important as your income and earnings. Have a clear picture of your expenses and measure all of them for their return on investment or if they can be reduced in any way. I understand this my be terrifying for most of us to see what we are spending personally and professionally but it is the foundation of your business plan to know what your personal and professional lives cost and then be able to set a financial target that is enough to cover them both and leave you some profit! So many of us stay away from this and run in a deficit and that is not good practice for any of us.

Step 5) Goals – If your “Why” is big enough the “how” will take care of itself.

What is your purpose? Vision? Values? Mission Statement? Taking the time to know what it is you want and why you want it is a game changer for us all. Nothing gives me more joy than impacting and improving people’s lives personally and professionally every day. I have realized that the driving compelling force in my life is serving others and having the means to create memorable experiences with the people I care about most and nothing else has given me more joy than these amazing WHY’s in my own life.

In my own real estate business, taking the time over the last 25 years to create a business plan has been so incredibly beneficial for me and I know it will for you as well. In today’s post I have given you a brief business plan overview. To help you get going with your own plan I put together a Step-by-Step Real Estate Business Plan Workbook you can download for

Strength and courage,
Wade

Power Planning For Success In 2018

Wade Webb on November 15, 2017

When the year begins to wind down you should not wait until the very end to start planning for next year. This means having a crystal clear understanding of the successes and challenges of your current year, how it impacts your upcoming year, and developing a vision of what you want to accomplish, and how.

For agents who want to achieve greatness, push the envelope, and grow their business through market share, market penetration, paying down debt, increasing sales, profits and cash flow, I urge you to get going now! The way I see things is, if your business isn’t growing, pushing the envelope, thriving, and maximizing profit, then all you’re really doing is suffering a slow death. Believe me, your competition is fighting the fight every day, and they didn’t wake up in the morning and say “Gosh, golly, I hope I stay even in 2018.” They want to eat your lunch, take your business, absorb your market share and steal your customers away.

FACT: LESS THAN 3% OF REAL ESTATE AGENTS HAVE A BUSINESS PLAN

FACT: ESTIMATED 3% OF REAL ESTATE AGENTS IN NORTH AMERICA DOING 97% OF BUSINESS

“If you fail to plan, you plan to fail.” Writing a business plan may seem a daunting task as there are so many moving parts and concepts to address. Take it one step at a time and be sure to schedule regular review (quarterly, semi-annually, or annually) of your plan to be sure you are on track to meet your goals. It is that time of year again when we begin to build our plan for 2018 so let’s look at the key areas of the agent’s solid business plan.

Business Plan for the Successful REALTOR©

Step 1) “Success and history always leaves us clues.” I began by looking back to identify the clues that have been left for us and the business. I would look at the real estate market first and search for the following clues.
What have the number of sales been doing the last year? 2-5 years? Up? Down?
What have the number of listings been doing the last year? 2-5 years? Up? Down?
What have the average and median prices been doing?
What price ranges are experiencing more activity? Less activity?
What neighborhoods or areas are experiencing more activity? Less Activity?
What property types are selling more? Less?
What buyer types are buying more?
Where are the buyers coming from? Local? Next state or province? Over Seas?

Imagine the targeted and strategic plan you would be able to build for you and your real estate business with this kind of information?
Now you are not just winging it. You really know where and what to focus on.

Step 2) Looking At The Present State of Your Real Estate Business
What have my sales been doing? Up? Down?
What have my listings been doing? Up? Down?
What is my average price? Can I raise my average selling price?
What is my Gross Commission Income doing?
What is my average deal worth?
Where are my listings and sales coming from? Sources of business?
What types of buyers do I represent?
Where are the buyers coming from? Local? Out of area?
What are my pending sales?
What do I have for potential buyers and sellers?

Strategic Business Planning for Your Real Estate Business
What if you took the time to really track and measure and reflect on your business at a deeper level and see your strengths, weaknesses and opportunities?

Step 3) Activity Plans – Take the time to lay out your activity plan calendar a year in advance. Focus on the activities you know you are good at and you see a return on your invested time and money. I am guessing for most agents it would be your sphere of influence, referrals and face to face or voice to voice activities.

Step 4) Budgeting – Profit is the goal in business. Knowing what your personal life and your business world cost you monthly is so important. Expense management is just as important as your income and earnings. Have a clear picture of your expenses and measure all of them for their return on investment or if they can be reduced in any way.

Step 5) Goals – If your “Why” is big enough the “how” will take care of itself. What is your purpose? Vision? Values? Mission Statement? Taking the time to know what it is you want and why you want it is a game changer for us all. Nothing gives me more joy than impacting and improving people’s lives personally and professionally every day.

In my own real estate business, taking the time over the last 22 years to create a business plan has been so incredibly beneficial for me and I know it will for you as well.

In today’s post I have given you a brief business plan overview. To help you get going with your own plan I put together a step by step Business Plan Workbook you can download for free by clicking the link below.

Click here to download new business plan PDF….

Strength and courage,
Wade

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Real Estate Business Planning for 2015

kelowna on November 5, 2014

How to Build a Successful Plan for Your Real Estate Business

November was always the time of year when I would prioritize my real estate business planning.

We have all heard the phrase “If you fail to plan then you plan to fail.”

Having a plan and really treating your career like owning a business is key to your success.

As my business began to wind down to a more manageable pace at this time of year I would take the time for my annual business planning retreat. My real estate team would plan a destination retreat for the November holiday weekend to get away and spend two full days on business planning, goal setting, budgeting and brainstorming for our real estate business for the upcoming year.

This was a great chance to get away, spend some focused time during the day and enjoy some team building entertainment and the destination we were staying at in the evenings. Oh and the best part of the trip was you got to write it all off as a business expense! This week I want to give you an idea of what you can cover during your business planning time.

Looking Back at Your Real Estate Business

“Success and history always leaves us clues.” I began by looking back to identify the clues that have been left for us and the business. I would look at the real estate market first and search for the following clues.

What have the number of sales been doing the last year? 2-5 years? Up? Down?
What have the number of listings been doing the last year? 2-5 years? Up? Down?
What have the average and median prices been doing?
What price ranges are experiencing more activity? Less activity?
What neighborhoods or areas are experiencing more activity? Less Activity?
What property types are selling more? Less?
What buyer types are buying more?
Where are the buyers coming from? Local? Next state or province? Over Seas?

Imagine the targeted and strategic plan you would be able to build for you and your real estate business with this mind of information?

Now you are not just winging it. You really know where and what to focus on.

Looking At The Present State of Your Real Estate Business

What have my sales been doing? Up? Down?
What have my listings been doing? Up? Down?
What is my average price? Can I raise my average selling price?
What is my Gross Commission Income doing?
What is my average deal worth?
Where are my listings and sales coming from? Sources of business?
What types of buyers do I represent?
Where are the buyers coming from? Local? Out of area?
What are my pending sales?
What do I have for potential buyers and sellers?

Strategic Business Planning for Your Real Estate Business

What if you took the time to really track and measure and reflect on your business at a deeper level and see your strengths, weaknesses and opportunities?

Activity Plans – Take the time to lay out your activity plan calendar a year in advance. Focus on the activities you know you are good at and you see a return on your invested time and money. I am guessing for most agents it would be your sphere of influence, referrals and face to face or voice to voice activities.
Budgeting – Profit is the goal in business. Knowing what your personal life and your business world cost you monthly is so important. Expense management is just as important as your income and earnings. Have a clear picture of your expenses and measure all of them for their return on investment or if they can be reduced in any way.
Goals – “If your “Why” is big enough the “how” will take care of itself.” What is your purpose? Vision? Values? Mission Statement? Taking the time to know what it is you want and why you want it is a game changer for us all. Nothing gives me more joy than impacting and improving people’s lives personally and professionally every day.

In my own real estate business, taking the time over the last 22 years to create a business plan has been so incredibly beneficial for me and I know it will for you as well.

In today’s post I have given you a brief business plan overview. To help you get going with your own plan I put together a step by step Business Plan Workbook you can download for free using the form below.

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Strength and Courage,

Wade

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