How to Create the Perfect Real Estate Business Plan for the Second Half of the Year
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Once you’ve conducted a half-year review of your goals, it’s time to design your plan moving forward. The review you conducted is meant to help you see where you were when you first set your goals versus where you are now with those objectives. Perhaps you’re right on target with your real estate lead generation, or maybe you have a little more work to do to catch up. Whatever your status is, make sure you design a business plan or adjust your current roadmap to pursue these initiatives.
National Association of REALTORS® has a great model for a real estate business plan — we wanted to go over a few of the most crucial parts of this model that will help your business stay rock-solid for the rest of the year.
Clear and Specific Objectives
These objectives are the ones you established during your initial review. They should match up with your current career path and goals. Include the desired result somewhere in the plan. For example, you might want to make a certain amount of money in commission, which should be the destination at the end of your road map. Avoid being too general — the objective needs to be specific and achievable.
A Set Time Fame
If you conduct a review mid-year, then the subsequent plan should cover the remaining six months. Should you conduct these reviews per quarter, adjust your time frame appropriately. Know how much time you have to meet your objective so you can actually complete your plan. If your mid-year review demonstrated that you’ll need another year in order to hit your goal of doubling production, reflect that in your plan’s time frame.
Strategic Action Steps
List out a few strategies you will implement to pursue this goal. Most likely your plan will not stay the same all year round — allow it evolve as you further develop your skills and business. Know your reason for doing all of the actions you wish to pursue and what role they will play your bottom line.
A Proven System
The system backing your actions should be proven. Nothing you do is haphazard — every action is a piece of a larger puzzle designed to help you reach your goals. If the system is proven to work and offers various success stories from actual clients, there is a place for it in a high-achieving business plan.
Effective Tracking
You want a system to track your progress and to guide you through your action steps. Referral Maker® CRM is a great tool for logging your lead generation activities! You enter your income goals, and Referral Maker CRM tells you the exact amount and type of actions you must take to get there. If you Work by Referral, this is the only real estate CRM tool you will need for your business.
These are all essential components of your real estate business plan, and they are guaranteed to help you make 2019 your best year ever. For some extra help creating your plan, lean into a Buffini & Company business coach! You can also boost your knowledge of the real estate industry, and become an even more well-rounded agent for your network and your clients. Claim your free virtual seat for Brian Buffini’s Bold Predictions: Mid-Year Update on July 10, 2019.
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