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2009-07-28 23:36:50

How to Build a Real Estate Business That Really Works


Let me start by asking you a blunt question: Are you as successful as you want to be? If you answered yes, please move on to the next article. If not, stick around for a couple of minutes.
It all starts with you. What Bob? What starts with me? Success. And because you’ve continued reading, you need to understand that first and foremost you are the answer to becoming as successful as you want to be.
I love this quote by Jim Collins, the best-selling author of “Good to Great.” “Whether you prevail or fail, endure or die, depends more on what you do to yourself than on what the world does to you.”
Now, step back and ask yourself this: What are you doing to yourself that’s giving you these unfulfilling results? Are you carrying around a bad attitude? Are you blaming others for the economy? Are you not making your sales calls? Are you making sales calls but without fervor?
You have to identify the hurdles before you can clear them. Trust me, personal responsibility is the rock. And it’s the foundation you must use to re-energize your real estate business. Anything else is shifting sand.  
Here are the key foundations to building a real estate business that really works:
1. Business Review – Know your current situation.

2. Your Vision - Write a vision statement that provides value to the customer.

3. Market Analysis – Anticipate marketplace changes via thorough investigation.
4. Competitive Analysis – Understand your competitors and how you stack up.

5. Business Strategy – Know your strengths and weaknesses and how to capitalize on the former and overcome the latter.
6. Services - Describe your services and how you position them to attract customers
7. Sales & Marketing – Develop a proven way to make clients know you exist

8. Operations – Ensure you’re focused on dollar productive activities and that you have someone focus on all the rest.
9. Financial Considerations – Understand your numbers and create a system that keeps you posted on them regularly.
I also invite you to download a planning worksheet from my website at And please visit my Facebook page to share your thoughts on business planning.  
Until then, keep enjoying your great profession of real estate!
Bob Corcoran is a nationally recognized speaker and author who is founder and president of Corcoran Consulting Inc. (, 800-957-8353), an international consulting and coaching company that specializes in performance coaching and the implementation of sound business systems into the residential or commercial broker or agent’s existing practice.
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