business planning for real estate agents
TRANSCRIPT
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BUSINESS PLANNINGBUSHARI GROUP REAL ESTATE
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DEFINITION
BUSINESS PLANNING IS THE CONTINUOUS PROCESS OF MAKING PRESENT ENTREPRENEURIAL DECISIONS SYSTEMATICALLY AND WITH THE GREATEST KNOWLEDGE OF THEIR RESULTS.
BUSINESS PLANNING HELPS YOU TO SYSTEMATICALLY ORGANIZE THE EFFORTS NEEDED TO CARRY OUT YOUR BUSINESS DECISIONS. IT HELPS YOU TO MEASURE THE ACTUAL RESULTS OF DECISIONS AGAINST EXPECTATIONS THROUGH ORGANIZED SYSTEMATIC FEEDBACK.
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BENEFITS OF BUSINESS PLANNING
1. ROAD MAP TO SUCCESS
2. IMPROVE FOCUS IN BUSINESS ACTION
3. COMMITMENT TO SELF
4. FINANCIAL ADVANTAGE
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RULES FOR A SUCCESSFUL BUSINESS PLAN
1. MUST BE IN WRITING!
2. MUST HAVE ACTION PLANS
3. MUST REVIEW QUARTERLY
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BUSINESS PLANNING
COMPONENTS OF A BUSINESS PLAN
1. Mission Statement
2. Goals & Objectives
3. Profit and Loss
4. Listings & Sales Goals
5. Marketing Plan
6. Action Plan
7. Money Making Calendar
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MARKETING PLAN
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WHAT IS A MARKETING PLAN?
A MARKETING PLAN IS A BLUEPRINT WHICH OUTLINES THE OVERALL MARKETING EFFORTS.
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BUSINESS PLANNING
ELEMENTS OF A MARKETING PLAN
CONTINUOUS The plan created will be one that the marketer must commit to over a significant length of time
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BUSINESS PLANNING
ELEMENTS OF A MARKETING PLAN
SYSTEMATIC The plan must be specific. Identify the tasks that need to get done and the specific time frame for accomplishing those tasks
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BUSINESS PLANNING
ELEMENTS OF A MARKETING PLAN
REPETITIOUS Using the vehicles available, identify the target market and consistently repeat the message
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BUSINESS PLANNING
ELEMENTS OF A MARKETING PLAN
FOCUSED A good marketing campaign focuses on a specific objective and is marketed to a specific target audience
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BUSINESS PLANNING
ELEMENTS OF A MARKETING PLAN
SYNERGISTIC MARKETING MIX Use different marketing vehicles in your campaign; the right combination is a matter of knowledge and experimentation
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MARKETING IS PROSPECTING
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BUSINESS PLANNING
MARKETING OBJECTIVE
PROSPECTING
APPOINTMENT
COMMITMENT
CLOSING
FOLLOW UP
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ACTION PLANS
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WHAT ARE ACTION PLANS?
AN ACTION PLAN IS A DOCUMENT THAT LISTS WHAT STEPS MUST BE TAKEN IN ORDER TO ACHIEVE A SPECIFIC GOAL. THE PURPOSE OF AN ACTION PLAN IS TO CLARIFY WHAT RESOURCES ARE REQUIRED TO REACH THE GOAL, FORMULATE A TIMELINE FOR WHEN SPECIFIC TASKS NEED TO BE COMPLETED.
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BUSINESS PLANNING
COMPONENTS OF AN ACTION PLAN
1. Objectives (Prospecting Method)
2. Budget (Marketing Cost)
3. Expected Results (# of Seller / Buyer / Rental Leads)
4. Detailed Steps
5. Detailed Timeline
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BUSINESS PLANNING
ACTION PLAN TEMPLATE
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BUSINESS PLANNING
ZERO DOLLAR PROSPECTING METHODS
LIST PROSPECTING METHODS THAT ARE FREE OR ALMOST FREE
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WORKGROUP
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GOALS & OBJECTIVES
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BUSINESS PLANNING
WHAT ARE YOUR 2016 BUSINESS GOALS?
1. Minimum Income & Target Income
2. Professional Development
3. Growth (Sphere, Production, etc.)
4. Charity Goals
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BUSINESS PLANNING
MINIMUM INCOME
ASSES WHAT IS THE MINIMUM THAT YOU NEED TO EARN ON A MONTHLY BASIS IN ORDER TO SURVIVE.
CONSIDER LIFE EXPENSES, SUCH HOUSING, FOOD, CAR AND PHONE
WRITE IT IN YOUR BUSINESS PLAN!
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BUSINESS PLANNING
TARGET INCOME
ASSES WHAT WAS YOUR PRODUCTION LEVEL LAST YEAR.
CONSIDER MARKET CONDITIONS AND CHALLENGES.
WRITE IT IN YOUR BUSINESS PLAN!
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BUSINESS PLANNING
PROFESSIONAL DEVELOPMENT
EDUCATION. EDUCATION. EDUCATION.
WHAT DO I NEED TO LEARN IN ORDER TO ADVACE IN MY CAREER?
RESEARCH WHERE YOU CAN EDUCATE YOURSELF, SIGN UP AND ADD IT TO YOUR CALENDAR.
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LISTINGS AND SALES GOALS
IN ORDER TO DETERMINE HOW MANY LEADS YOU’LL NEED IN ORDER TO ACHIEVE YOUR INCOME GOAL, YOU’LL NEED TO REVERSE ENGINEER THE SALE’S FUNNEL.
PROAPPCOCLFO
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BUSINESS PLANNING
UNDERSTANDING CONVERSION RATE
PROSPECTING
APPOINTMENT
COMMITMENT
CLOSING
FOLLOW UP
100 Leads
25 Appointments
20 Contracts
19 Closings
25%
80%
95%
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BUSINESS PLANNING
LISTINGS AND SALES GOALS FORMULA
MY ANNUAL INCOME GOAL
% INCOME FROM LISTINGS
ANNUAL INCOME FROM LISTINGS
X
=
A
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BUSINESS PLANNING
LISTINGS AND SALES GOALS FORMULA
MY AVERAGE SALES PRICE
MY AVERAGE COMMISSION %
COMMISSION EARNED PER TRANSACTION
X
=
B
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BUSINESS PLANNING
LISTINGS AND SALES GOALS FORMULA
COMMISSION EARNED PER TRANSACTION
MY NET SPLIT WITH THE OFFICE
AGENT’S NET COMMISSION
X
=
C
B
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BUSINESS PLANNING
LISTINGS AND SALES GOALS FORMULA
ANNUAL INCOME FROM LISTINGS
AGENT’S NET COMMISSION
# CLOSING GOAL
/
=
C
A
D
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BUSINESS PLANNING
LISTINGS AND SALES GOALS FORMULA
# CLOSING GOAL
COMMITMENT TO CLOSING CONVERSION RATE
# COMMITMENTS GOAL
/
=
D
E
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BUSINESS PLANNING
LISTINGS AND SALES GOALS FORMULA
# COMMITMENTS GOAL
APPOINTMENT TO COMMITMENT CONVERSION RATE
# APPOINTMENTS GOAL
/
=
E
F
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BUSINESS PLANNING
LISTINGS AND SALES GOALS FORMULA
# APPOINTMENTS GOAL
PROSPECTING TO APPOINTMENT CONVERSION RATE
# LEADS GOAL
/
=
F
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BUSINESS PLANNING
PROSPECTING TO APPOINTMENTS CONCERSION CHART
REFERRAL 90-95% OPEN HOUSE
15-20%
INTERNET 1-10% SEMINAR 20-30%
PRINT 1% SOCIAL MEDIA
1%
DIRECT MAIL 1-2% YARD SIGN 10-15%
COLD CALLS 5-7% PAST CLIENT 12-88%
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MISSION STATEMENT
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MISSION STATEMENT
YOUR MISSION STATEMENT FOCUSES ON WHAT YOU WANT TO BE, TO DO AND THE VALUES OR PRINCIPALS UPON WHICH BEING AND DOING ARE BASED
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“IT’S OUR GOAL TO DISPLAY PROFESSIONALISM ABOVE REPROACH IN EACH TRANSACTION, BOTH TO OUR CLIENTS AND CUSTOMERS AND TO OUR FELLOW AGENTS.
THE BLENDING OF OUR EXPERIENCE, EDUCATION KNOWLEDGE WITH THE SOPHISTICATED TOOLS AND TECHNOLOGY OF BUSHARI GROUP WILL ASSURES OUR CLIENTS, CUSTOMERS AND AGENTS THE COMPETITIVE EDGE IN TODAY’S MARKET.”
BUSHARI GROUP MISSION STATEMENT
BUSINESS PLANNING