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November 07, 2018

Seven Successful Business Planning Ideas

Successful business planning was the topic of a recent Listserv brainstorming parley on RealTalk.

Three industry leaders share tips with real estate agents and brokers. Contributors to this article: Saul Klein, Real Estate Electronic Publishing Company, Randy Albert, BigWig Sofware, Rossi, Certified e-PRO Trainer, ROSSI Speaks, Inc.

Tip 1: Identify a clear set of goals and objectives.

Goals and objectives need to be motivating, IN WRITING and help you move toward financial freedom.

Tip 2: Commit to the implementation of your plan.

Make a science out of understanding your pipeline so that you know how many:
Contacts to get the listing appointments and/or buyer meetings you need to land enough clients To close enough deals to achieve your goals and objectives. you need to make

Remember that the number of contacts you make is the only part of your plan over which you have complete control.

Tip 3: Monitor and make changes as necessary.

The rare few are good at this on their own. Build accountability into your system by sharing your numbers weekly with a spouse, colleague, manager, or coach.

Tip 4:  Understand all factors within your market and your business strengths, weaknesses, threats, and opportunities.

Tip 5:  Use the information and resources to set up systems and "standard operating procedures"
 
  • Improve prospecting techniques so that it takes less time and money to get listing appointments and buyer meetings.
 
  • Develop better listing and buyer presentations to land a higher percentage of good clients.
 
  • Set more reasonable service expectations with clients (e.g., regular business hours).
 
Nurture better relationships with past clients so that they remain clients and good sources of referrals.

Tip 6: Prioritize your personal values and ask the question of each goal: "Is this goal congruent with my personal values?"
 
If goals are not aligned with personal values, you will never achieve them. Understand all factors within your market and within your business strengths, weaknesses, threats, and opportunities. Look for ways to leverage all of your resources to maximize overall productivity.

Tip 7: Use the RealTalk Online Community as a resource to help achieve success.

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