**Read Intro Blog Post Here**
It's been a while, I know. Hopefully we've all completed the branding stage. It's very important and can be time consuming. I have my logo set and have come up with an idea for the new website. I was stuck on this for a while, I didn't want to commit to a design until I new it was perfect. Now, I just have to format and get it online as well as structuring the same identity onto all marketing material. The way your potential clients see your business is so very important and I've taken a lot of time on this step to make sure it's just right.
Now that we've completed the branding stage, we need to seriously consider our business plan. Most people just jump in and get started. They never set goals, run numbers, looks at their competition or anything. VERY RISKY. Probably why most businesses fail.
Click Here to check out TC's basic business plan outline. Start writing. Start thinking. Start proving to yourself and to anyone who reads it, that you're business can and will succeed. If you can't do that, you need to do some more work. Don't waste time, effort and energy in a flawed service or business.
As an agent, what makes you different than every other agent? It's a hard business to stay productive in, especially with this market. How are you going to do that?
A lot of real estate is in who you know. WHO DO YOU KNOW and how are they going to help you? Where are new leads going to come from? What marketing works best?
How much do you expect to make and how much do you expect to invest BACK INTO your company? You can't just take every commission check in full. The 'business' needs to earn part of that profit and it has to be reinvested carefully and with purpose.
Who are you biggest competitors? What do they do to get clients? How many deals do they close? Why would someone work with you over them?
WRITE IT ALL DOWN. If you don't go through this stage, you're never going to beat your competition. Probably because you won't even know who they are. Your clients won't know who you are because you have no marketing plan. Your business won't grow because you haven't put any money into it.
This is worth the investment in time. It will make your business stronger and more successful.
Showing posts with label real estate business planning. Show all posts
Showing posts with label real estate business planning. Show all posts
Monday, September 13, 2010
Thursday, March 25, 2010
Why NOT to work harder! Follow me... STEP 2 & 3 - Setting Fees & Systems
**Read INTRO BLOG POST here**
Fees
Setting your fees is a fairly straight forward process. I encourage you to really think about how much of your valuable time goes into each task and make sure your fees represent a fair amount - for both parties involved. Resentment, one way or the other, can ruin not only a transaction, but a future relationship that could generate referrals.
Mine are set and ready to go. Service & price packets are updated.
As a real estate agent, it should be somewhat easy for you. You can decide on a per client basis if you are willing to work for less than 6%, or you can create a services list for each commission rate (I've done this for other Realtors and it seems to work well). At 6% you will do this; At 5.5% you will do this; and so on... This way your client doesn't have a false impression in their head that you are doing all kinds of services, for less money.
Now, on to systems...
These are SO important! Build your systems to handle a high volume of leads, and the leads will come. Don't build any systems at all, and they won't!
I'm going to be working on developing systems for the following areas:
Now, instead of scrambling to pull together a Listing Presentation, you just print out your comps, attach them to your pre-made listing presentation and walk out the door.
Your buyer packets are set with all the information that you know your clients will need. No more forgetting to metion certain topics.
Your marketing is running seamlessly in the background and constantly generating you leads.
When you have systems in place they act as a strong foundation for your business. You will seem more organized, less frantic and your clients will notice that. Talk about value added!
Programs to help with your systems...
A lot of agents I know use Top Producer. They love all the options, pre-made plans, etc. It is great, but does require setup and someone willing to learn the in's and out's (I already know them...hint, hint). If you don't take the time to learn it, you'll never get your money out of it. That goes for any CRM program.
If you're looking for something that can help you with CRM and you don't mind setting up your campaigns and systems on your own, consider Zoho.com. It's a great system and offers a FREE VERSION! If you need more than the free version offers, you can upgrade to a $12/month or $25/month version (as a Realtor, I don't think you will though).
---------------------------------------------
Off to work... If you have questions, please don't hesiatate to ask.
Fees
Setting your fees is a fairly straight forward process. I encourage you to really think about how much of your valuable time goes into each task and make sure your fees represent a fair amount - for both parties involved. Resentment, one way or the other, can ruin not only a transaction, but a future relationship that could generate referrals.
Mine are set and ready to go. Service & price packets are updated.
As a real estate agent, it should be somewhat easy for you. You can decide on a per client basis if you are willing to work for less than 6%, or you can create a services list for each commission rate (I've done this for other Realtors and it seems to work well). At 6% you will do this; At 5.5% you will do this; and so on... This way your client doesn't have a false impression in their head that you are doing all kinds of services, for less money.
Now, on to systems...
These are SO important! Build your systems to handle a high volume of leads, and the leads will come. Don't build any systems at all, and they won't!
I'm going to be working on developing systems for the following areas:
- New Leads
- Past Clients/Sphere
- Marketing Campaigns
- Social Media/Blog Marketing Plan
- Transaction Coordination
- Short Sale Processing
- New Leads (8x8)
- Past Clients/Sphere (33 touch)
- Social Media & Blog Marketing Plan
- New Listing Setup
- New Pending Transaction Setup
- Client Presentations/Packets: CMA, Buyer, Pre-Listing
Now, instead of scrambling to pull together a Listing Presentation, you just print out your comps, attach them to your pre-made listing presentation and walk out the door.
Your buyer packets are set with all the information that you know your clients will need. No more forgetting to metion certain topics.
Your marketing is running seamlessly in the background and constantly generating you leads.
When you have systems in place they act as a strong foundation for your business. You will seem more organized, less frantic and your clients will notice that. Talk about value added!
Programs to help with your systems...
A lot of agents I know use Top Producer. They love all the options, pre-made plans, etc. It is great, but does require setup and someone willing to learn the in's and out's (I already know them...hint, hint). If you don't take the time to learn it, you'll never get your money out of it. That goes for any CRM program.
If you're looking for something that can help you with CRM and you don't mind setting up your campaigns and systems on your own, consider Zoho.com. It's a great system and offers a FREE VERSION! If you need more than the free version offers, you can upgrade to a $12/month or $25/month version (as a Realtor, I don't think you will though).
---------------------------------------------
Off to work... If you have questions, please don't hesiatate to ask.
Subscribe to:
Posts (Atom)