What’s your plan? Plan for what you might ask.
Your Business Needs a Foundation
If you want to be a successful real estate agent and build a solid real estate business, you need to have a plan. In this instance I’m talking about a solid business plan. Your business plan is the foundation of your business. There are several pieces that you’ll need in order to build and grow your real estate business.
- A Plan
- A Good Work Ethic
Real Estate Agents Have a High Failure Rate
Did you know that 85% of agents fail within five years of being in the business? That’s a huge number. Agents fail for a variety of reasons.
- No Clients
- Run Out of Money
- Lack of Training
- Lack of Motivation
No matter the reason, all of the reasons have one thing in common. Agents fail because they don’t have an actual plan to succeed. They don’t have a plan because they think being a Realtor is easy and that business will simply fall at their feet. Agents fail because they think they are smart enough to go it alone and figure out what they need to know on their own. When that doesn’t happen they run out of money, panic and go back to a “safe” 9 to 5 job.
But it doesn’t have to be that way.
From the moment you become an agent you need to have a plan. Having a plan keeps you focused on your daily, weekly and monthly tasks and goals. I’ve seen and spoken with so many agents who do what I call “busy work”. These are activities that give the agent the illusion of working. These are activities that don’t allow their business to make money, but they give the agent a sense of working. How do you know if you are doing busy work? If you are constantly attending classes to learn how to use your MLS or researching information on buyer programs or attending real estate seminars or motivational seminars, chances are you are stuck in the busy work mine field.
It’s difficult to get clients if you don’t have a plan for prospecting. You need to know what activities you need to do to get clients. As an agent there isn’t anyone looking over your shoulder to make sure you are working. I hate to put it this bluntly, but no one cares. No one is going to check in on you to see if you have any clients. You have to be self-motivated and get out there and put yourself in a position to ask for the business. Your success is all on you.
I understand that the very thought of writing a formal business plan can be daunting. I get it because I’ve lived it.
Don’t Be Like Me
My first year in real estate was amazing. I had 14 transactions…woohoo! Because I had that many transactions I didn’t have a plan, nor did I think I needed on. My only plan was to hope to get clients. I was hoping to get a few referrals. I had no idea where my business was coming from or how much money I was spending in my business. I was too busy selling houses. My plan of having no plan was working well, until it didn’t.
Let me tell you, it was a seriously stressful time. My family depended on my income. I was putting my entire family at risk. In hindsight I was being totally crazy and irresponsible because failure was not an option. I had to make this work. I can only imagine how much more stressful it would have been if I were single with no safety net.
Don’t get me wrong, I was told numerous times to write a business plan but I didn’t think I needed one. After all, my plan was in my head and it had worked.
Have a Plan
Don’t be like me. Have a plan. I know my business would have been even better and grown much faster if I’d had a written plan from the very beginning. I discovered that writing a business plan does not have to be exhausting and painful. I now enjoy writing my plan because I love knowing where my business will be coming from and how I’ll achieve my goals.
Writing Your Business Plan is Easy
My new course “Writing Your Business Plan Because Hope is Not a Strategy” gives you the guidance, tools and worksheets you need to write an effective business plan. In the course you will:
- Review your current business
- Evaluate your strengths and weaknesses
- Establish your goals
- Determine activities you need to do to achieve your goals
Start the new year off on the right foot.
When all of the worksheets are completed, you will have an easy to follow 3 page business plan. It’s straight-forward and easy so you don’t have any more excuses not to have a written plan.
Limited Time Offer
Check your inbox on Thursday, December 8th for a special limited time offer for “Writing Your Business Plan Because Hope is Not a Strategy”.
Real-Life Real Estate Training – Real Training, Real Results!
- Have you struggled turning contacts into clients?
- Are you working hard, but hardly making any money?
- Are you beginning to think you made a bad career choice?
If you answered “yes” to any of these questions you are in the right place!
Sign up for my FREE email course, 5 Things Every New Real Estate Agent Needs to Know to start building your real estate business on a solid foundation. Click here to get started!
Inman News named Candy Miles-Crocker as one of the Top 25 Real Estate coaches in 2016. Candy, “The Real-Life Realtor”, coaches, mentors and trains new and experienced real estate agents to transform their business by mastering her proven systems for success. She is a firm believer in managing expectations and her goal is to elevate the perception of real estate agents among the general public through education so every client has an amazing real estate experience. Candy’s unique training methods have shown agents what it takes to be successful!
Learn more about her training program at www.RLRETraining.com or send her an email at Candy@RLRETraining.com.