Every month is important when you are a real estate professional but if one were more important than the others it would have to be September. Why? Because September is when you should create your business plan for the next year.
The new year for real estate agents doesn’t begin on January 1; it begins on October 1. The listings you take, the buyers you begin to work with – all will close after the first of the year. So you want to be doing the right things now so you begin the new year with a good inventory of listings, buyers, and transactions on the way to closing.
An effective business plan is comprised of three components:
1. Goals – You want to identify what success looks like. Be specific. Your goals must be measurable (not “I want to make a lot of money” but “I want to earn $150,000 next year”)
2. Systems – At its core real estate is about creating relationships. So you should be doing activities that put you in front of potential buyers and sellers. These activities – if they are organized and well thought out – are systems. Direct mail, open house, working your sphere of influence, FSBOs and expireds can all be systemized.
3. A Means For Staying on Track – It does you no good to have goals and effective systems if you don’t do what you need to do. Having a coach or someone else to keep you on your path is crucial to your success
There are several good books on business planning for real estate agents available at Amazon.com including two written by me. You’re welcome to buy them at Amazon or just email me back by August 30 and I’ll send you both for free.
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