Step-by-Step 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

Plan For Success as a Realtor© in 2023

Wade Webb on November 2, 2022

Need help to plan for success as a Realtor© in 2023?

A mentor of mine said to me “agents aim for nothing and hit it with amazing success!” 2022 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 2023 and hit it with amazing success! So when 2022 begins to wind down you should not wait until the very end to start planning for 2023. 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 2023.” 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 2023 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 29 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 free by signing up using the form below.

Strength and courage,
Wade

Realtors© Is It Time For A Reset For 2022?

Wade Webb on August 17, 2022

Realtors© Is It Time For A Reset For 2022?

Q3 isn’t over yet, but that doesn’t mean you shouldn’t be looking at the road ahead. What should you be doing now to start your Q4 planning? What steps can you take to ensure that you have a great fourth quarter? Let’s look at three different steps you can take now to bolster your fourth quarter success.

STEP 1: SET YOUR GOAL(S) – You can’t make plans without setting goals. Whether it’s one big goal you’d like to have accomplished by the end of the quarter, or a series of smaller ones, a concrete focus is a necessity for any planning you do. What should your goals be? That depends on you and your situation. No one knows your store like you! I always suggest that whatever goal you set should be attainable, but also something that feels exciting for you to hit.

STEP 2: REVIEW YOUR PREVIOUS QUARTER(S) – One of the best ways to set your goals and succeed in the next quarter is to review your previous successes and failures. How can you no where you’re going if you don’t know where you’ve been? Take stock of previous goals you’ve set, what worked, and what didn’t. It’s crucial to understand what worked in the last quarter and what didn’t. What goals were achieved? How? Which ones should carry over into the next quarter? How will the strategy have to be adjusted? Don’t be afraid to own up to past failures, either. This is a great time to examine how things went and if you incorporated new routines or techniques, how did they work out? Or, if the same ol’, same ol’ isn’t working out.

STEP 3: DO THINGS DIFFERENTLY – Don’t be afraid to change things up! Ask yourself: do I need to things differently, or do different things? This is a subtle but important distinction…and if you have any chance of closing your execution gaps and making this your best year ever, you MUST ask yourself. Take this time, especially before Q4, to look at the systems and procedures you have in place. Is your scheduling working?

STEP 4: RESET YOUR WORLD – Remember that little book, “The Life Changing Magic of Tidying Up”? Some people thought it was funny when Marie Kondo suggested you take every item you own in your hands and ask, “Does this spark joy?” But think about the power of that… Shouldn’t your things make you happy? I want you shake things up and give yourself a fresh start. Donate all the clothes you don’t wear to make room for new space. Buy some new art or paint your walls. Literally “spark joy” in your space. Resetting your space can also be a way of reinforcing your habits. If you want to do yoga in the morning, dedicate a yoga area and lay out your mat the night before. If you want to read in bed, clear off your nightstand and have a book always resting there. And here’s a powerful one… I want you to buy three living house plants. Name each one after one of your top three goals, then care for those plants as if they are those goals. Water them, trim them, and make sure they get sun every day. As you watch them grow, you just might see yourself growing closer to those goals.

STEP 5: REMIND YOURSELF WHO YOU ARE– Real estate is not an easy business. So, why did you get into it? Because you are a champion! You’re a Rockstar who can handle whatever the world throws at you. Not a lot of people could do what you do, and you need to remind yourself (to yourself, not to other people) of that. Know and believe in who you are again and why you chose this amazing business and career in the beginning.

DON’T STOP THERE!

These are only a handful of the things you can do to prepare for the continued success of your business. Commit to finishing Q4 in 2022 strong.

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.

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

Planning For Real Estate Success 2020

Wade Webb on November 13, 2019

A mentor and someone I admire incredibly Jim Rohn, the legendary business philosopher always said to “Finish your week before it begins.” He meant that we take control of our schedule and real estate business and plan for the week ahead before it even happens. If we don’t take control then someone else or something else always does!

So 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. 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 2020.” 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 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.

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?

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.

Click here to download the new 2020 business plan PDF….

Strength and courage,
Wade