why business plans for real estate are important (pt 1)
DESCRIPTION
2014 is here. When is the last time you reviewed your real estate business plan In part 1 of this 2 part class, Chuck with Real Access Pro goes over What and Why of a business plan for real estate agents (Updated Version 1.1)TRANSCRIPT
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Why Business Plans for Real Estate are Important
Chuck Ward
Director of Marketing and Training
Real Access Pro
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Agenda for the Next Two Classes
Tuesday 12/10/2013
• What a Business Plan is
• Why is a Business Plan Needed
• Pieces of a Business Plan
• Resources
Thursday 12/14/2013
• Filling it Out – Goal Setting
– Financial Planning
– Work Flow
– What to Do
– What NOT to Do
– Resources
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How Well Do You Know Me
• Those of you who know me, know that I am a RABID Fan of college football
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How Well Do You Know Me
• It may surprise you to know that I have taken a recent part time job delivering newspapers in the early morning hours
• (I get more done by 9 AM than most people do all day)
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Headline Last Weekend
BCS CHAOS
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CHAOS
• Alabama attempts a long field goal and misses (63 yards)
• Auburn FIELDS the kick and returns it for touchdown (109 yards)
• #5 Auburn beats #1 Alabama
• Auburn going to 2014 BCS Title Game
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What’s the Point to the Story
• Auburn’s coaching staff had a plan – Auburn had a goal
– Beat Arch Rival Alabama
• Alabama’s coaching staff also had a plan – Alabama had a goal
– Did not account for unknowns
– Did not account for unlikely events or scenarios
Both Teams Had Plans
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Ask Yourself
• Do you have a goal
• Do you have a plan to get to that goal
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Recipe for Success
• Goals Have to Be Ultra Defined
– Written Down
– Short and Long Term
• Steps to Achieve those Goals also have to be Ultra Defined
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Think of it This Way
• Your Goal is to Drive from somewhere really cold to somewhere warm
• How are you going to do this
This is where I am (in the warm area)
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Think of it This Way
• Map out your travel – How far each day
– Where will you wind up at
– What to do along the way
– Account for Traffic, conditions, things to do along the way, money, etc
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Business Plans Are the Same Thing
• A Roadmap
• Where are you at
• Where do you want to go
• How are you going to get there
• Account for the unknowns events/scenarios
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What’s Included in Business Plans (Pt 1)
• Goals
– Personal Goals
• (Dream List / Dream Board / Dream Book)
– Professional
• Production
• Money
• Time
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Every Business Owner Wants This
1.More Money and Closings
2.Less Expenses
3.Less Time Getting More Money and Closings
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About Goals
• Goals Must Be Believable
• Goals Must Be in Writing
– View EVERY single day
• Goals must be measurable
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What’s Included in Business Plans (Pt 1.1)
• What does it Take to Accomplish Your Goals
– How much money does it take to accomplish your personal goals
– How many closings do you need
– How many conversations do you have to have (23:1)
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What’s Included in Business Plans (Pt 2)
• How are You Going to Accomplish Your Closings
–How many conversations
• How many dials to make
• How many emails to send
• How many cards or letters to write
• How often (weekly or biweekly)
–Do you specialize in niches?
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What’s Included in Business Plans (Pt 2.1)
• How are You Going to Accomplish Your Goals – Include Social Media
• Which social media and how often – Facebook – Google Plus – YouTube
– Work on my website more • (optimization and blogging)
– More videos – Try something new
• (corporate benefits, blogging, video emails)
– Get more client reviews
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What’s Included in Business Plans (Pt 2.2)
• How are You Going to Accomplish Your Goals
– What is it that you can do (strengths)
– What do you need someone to do for you (weaknesses)
• Virtual Assistants
– What do you need to learn
• How much time (daily or weekly) will you devote to learning
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What’s Included in Business Plans (Pt 2.3)
• Other Weaknesses to Consider – Market Conditions
• (FHA lowered their loans amounts recently)
• Credit Challenged Clients
• Down Payment Challenged Clients
– Rising Technology Costs • Time spent learning and putting into place systems and
programs
• Money
• Needed for more clients
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What’s Included in Business Plans (Pt 2.3)
• Other Things to Consider
– Education
• Learning New Programs
• Learning New Strategies / Ideas
• Role Play
– Financial Expenses
– Time Commitment
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On Thursday
• Resources will be available Now – Sample Business Plans – Found Across the Internet (Realtor.com, Trulia)
• Link for Download – Fill out your email
• Tracking Purposes • I am not going to email you • Link to sample plans will be emailed • http://realaccesspro.com/2014-business-plan-samples/
• Please check out our Facebook Page
– https://www.facebook.com/pages/Real-Access-Pro-Inc/187226844647872
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Contact Information
• Chuck Ward
• Director of Marketing
– Head Trainer and Coach
• Real Access Pro Family and Sponsors
– RAP Family includes Towne Mortgage Pro (MI/OH) and Atlantic Pacific Pro (NJ/PA/FL)
– Reltco Title (Florida)
888-884-0303 x200 813-447-0510 (best to text) chuck.ward (at) realaccesspro.com