business plan for real estate agency

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• Writing a Business Plan

Writing a business plan may seem a daunting task as there are so many moving parts and concepts to address. Take it one step at a time and be sure to schedule regular review (quarterly, semi-annually, or annually) of your plan to be sure you on are track to meet your goals.

Why Write a Business Plan?

Making a business plan creates the foundation for your business. It provides an easy-to-understand framework and allows you to navigate the unexpected.

Quick Takeaways

• A good business plan not only creates a road map for your business, but helps you work through your goals and get them on paper
• Business plans come in many formats and contain many sections, but even the most basic should include a mission and vision statement, marketing plans, and a proposed management structure
• Business plans can help you get investors and new business partners

Source: Write Your Business Plan: United States Small Business Association

Writing a business plan is imperative to getting your business of the ground. While every plan is different – and most likely depends on the type and size of your business – there are some basic elements you don’t want to ignore.

Latest on this topic

NAR Library & Archives has already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles ( E ) are available only to NAR members and require the member's nar.realtor login.

Defining Your Mis​sion & Vision

Writing a business plan begins by defining your business’s mission and vision statement. Though creating such a statement may seem like fluff, it is an important exercise. The mission and vision statement sets the foundation upon which to launch your business. It is difficult to move forward successfully without first defining your business and the ideals under which your business operates. A company description should be included as a part of the mission and vision statement. Some questions you should ask yourself include: 

• What type of real estate do you sell?
• Where is your business located?
• Who founded your business?
• What sets your business apart from your competitors?

What is a Vision Statement ( Business News Daily , Jan. 16, 2024)

How to Write a Mission Statement ( The Balance , Jan. 2, 2020)

How to Write a Mission Statement ( Janel M. Radtke , 1998)

Using a SWOT Analysis to Structure Your Business Plan

Once you’ve created a mission and vision statement, the next step is to develop a SWOT analysis. SWOT stands for “Strengths, Weaknesses, Opportunities, and Threats.” It is difficult to set goals for your business without first enumerating your business’s strengths and weaknesses, and the strengths and weaknesses of your competitors. Evaluate by using the following questions:

• Do you offer superior customer service as compared with your competitors?
• Do you specialize in a niche market? What experiences do you have that set you apart from your competitors?
• What are your competitors’ strengths?
• Where do you see the market already saturated, and where are there opportunities for expansion and growth?

Strength, Weakness, Opportunity, and Threat (SWOT) ( Investopedia , Oct. 30, 2023)

How to Conduct a SWOT Analysis for Your Small Business ( SCORE , Apr. 28, 2022)

SWOT Analysis Toolbox ( University of Washington )

Setting ​Business Goals

Next, translate your mission and vision into tangible goals. For instance, if your mission statement is to make every client feel like your most important client, think about the following:

• How specifically will you implement this?
• Do you want to grow your business?
• Is this growth measured by gross revenue, profit, personnel, or physical office space?
• How much growth do you aim for annually?
• What specific targets will you strive to hit annually in the next few years?

Setting Business Goals & Objectives: 4 Considerations ( Harvard Business School , Oct. 31, 2023)

What are Business Goals? Definition, How To Set Business Goals and Examples ( Indeed , Jul. 31, 2023)

Establishing a Format

Most businesses either follow a traditional business plan format or a lean startup plan.

Traditional Business Plan

A traditional business plan is detailed and comprehensive. Writing this business plan takes more time. A traditional business plan typically contains the following elements:

• Executive Summary
• Company description
• Market analysis
• Organization and management
• Service or product line
• Marketing and sales
• Funding request
• Financial projections

Lean Startup Plan

A lean startup plan requires high-level focus but is easier to write, with an emphasis on key elements. A lean startup plan typically contains the following elements:

• Key partnerships
• Key activities
• Key resources
• Value proposition
• Customer relationships
• Customer segments
• Cost structure
• Revenue stream

Creating a Marketing Plan

You may wish to create a marketing plan as either a section of your business plan or as an addendum. The Marketing Mix concerns product , price , place and promotion .

• What is your product?
• How does your price distinguish you from your competitors—is it industry average, upper quartile, or lower quartile?
• How does your pricing strategy benefit your clients?
• How and where will you promote your services?
• What types of promotions will you advertise?
• Will you ask clients for referrals or use coupons?
• Which channels will you use to place your marketing message?

Your Guide to Creating a Small Business Marketing Plan ( Business.com , Feb. 2, 2024)

10 Questions You Need to Answer to Create a Powerful Marketing Plan ( The Balance , Jan. 16, 2020)

Developing a Marketing Plan ( Federal Deposit Insurance Corporation )

Forming a Team

Ensuring the cooperation of all colleagues, supervisors, and supervisees involved in your plan is another important element to consider. Some questions to consider are:

• Is your business plan’s success contingent upon the cooperation of your colleagues?
• If so, what specifically do you need them to do?
• How will you evaluate their participation?
• Are they on-board with the role you have assigned them?
• How will you get “buy in” from these individuals?

How to Build a Real Estate Team + 7 Critical Mistakes to Avoid ( The Close , May 17, 2023)

Don’t Start a Real Estate Team Without Asking Yourself These 8 Questions ( Homelight , Jan. 21, 2020)

Implementing a Business Plan and Reviewing Regularly

Implementation and follow-up are frequently overlooked aspects to the business plan, yet vital to the success of the plan. Set dates (annually, semi-annually, quarterly, or monthly) to review your business plans goals. Consider the following while reviewing:

• Are you on track?
• Are the goals reasonable to achieve, impossible, or too easy?
• How do you measure success—is it by revenue, profit, or number of transactions?

And lastly, think about overall goals.

• How do you plan to implement your business plan’s goals?
• When will you review and refine your business plan goals?
• What process will you use to review your goals?
• What types of quantitative and qualitative data will you collect and use to measure your success?

These items are only a few sections of a business plan. Depending on your business, you may want to include additional sections in your plan such as a:

• Cover letter stating the reasoning behind developing a business plan
• Non-disclosure statement
• Table of contents

How To Write a Business Proposal Letter (With Examples) ( Indeed , Jul. 18, 2023)

How To Implement Your Business Plan Objectives ( The Balance , Aug. 19, 2022)

The Bottom Line

Creating a business plan may seem daunting, but by understanding your business and market fully, you can create a plan that generates success (however you choose to define it).

Real Estate Business Plans – Samples, Instructional Guides, and Templates

9 Steps to Writing a Real Estate Business Plan + Templates ( The Close , Apr. 3, 2024)

How to Write a Real Estate Business Plan (+Free Template) ( Fit Small Business , Jun. 30, 2023)

The Ultimate Guide to Creating a Real Estate Business Plan + Free Template ( Placester )

Write Your Business Plan ( U.S. Small Business Administration )

General Business Plans – Samples, Instructional Guides, and Templates

Business Plan Template for a Startup Business ( SCORE , Apr. 23, 2024)

Guide to Creating a Business Plan with Template (Business News Daily, Mar. 28, 2024)

Nine Lessons These Entrepreneurs Wish They Knew Before Writing Their First Business Plans ( Forbes , Jul. 25, 2021)

How to Write a Business Plan 101 ( Entrepreneur , Feb. 22, 2021)

Books, eBooks & Other Resources

Ebooks & other resources.

The following eBooks and digital audiobooks are available to NAR members:

The Straightforward Business Plan (eBook)

Business Plan Checklist (eBook)

The SWOT Analysis (eBook)

The Business Plan Workbook (eBook)

Start-Up! A Beginner's Guide to Planning a 21st Century Business (eBook)

Complete Book of Business Plans (eBook)

How to Write a Business Plan (eBook)

The Easy Step by Step Guide to Writing a Business Plan and Making it Work (eBook)

Business Planning: 25 Keys to a Sound Business Plan (Audiobook)

Your First Business Plan, 5 th Edition (eBook)

Anatomy of a Business Plan (eBook)

Writing a Business Plan and Making it Work (Audiobook)

The Social Network Business Plan (eBook)

Books, Videos, Research Reports & More

As a member benefit, the following resources and more are available for loan through the NAR Library. Items will be mailed directly to you or made available for pickup at the REALTOR® Building in Chicago.

Writing an Effective Business Plan (Deloitte and Touche, 1999) HD 1375 D37w

Have an idea for a real estate topic? Send us your suggestions .

The inclusion of links on this page does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked in this page complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.

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7 Steps to Writing a Real Estate Business Plan (+ Template)

As a licensed real estate agent in Florida, Jodie built a successful real estate business by combining her real estate knowledge, copywriting, and digital marketing expertise. See full bio

• Do Agents Really Need a Business Plan?
• Write a Real Estate Business Plan in 7 Easy Steps
• Identify Who You Are as a Real Estate Agent
• Analyze Your Real Estate Market
• Identify Your Ideal Client
• Conduct a SWOT Analysis
• Establish Your SMART Goals
• Create Your Financial Plan
• Track Your Progress & Adjust as Needed
• Bringing It All Together

Are you ready to take your business to the next level? I’ve got just the thing to help you— a foolproof real estate business plan. But before you start thinking, “Ugh, not a boring business plan for real estate,” hear me out. I’ve got a template that’ll make the process a breeze. Plus, I’ll walk you through seven easy steps to craft a plan to put you ahead of the game and have you achieve your wildest real estate dreams in no time. Your success story starts now.

Key Takeaways:

• A well-crafted business plan is your roadmap to success. It guides your decisions and keeps you focused on your goals.
• Create a solid plan by defining your mission, vision, and values, analyzing your market and ideal client, conducting a SWOT analysis, setting SMART goals, and creating a financial plan.
• Regularly track your progress, review your key performance indicators (KPIs), stay flexible, and seek accountability to ensure long-term success.
• Remember, your Realtor business plan should evolve with your business. Embrace change and stay focused on your goals to make your real estate dreams a reality.

Do Agents Really Need a Real Estate Business Plan?

Absolutely. Your real estate agent business plan is your roadmap to success. Without it, you risk losing direction and focus in your real estate career.

A well-crafted business plan helps you:

• Understand your current position in the market
• Set clear and achievable goals
• Create a roadmap for success
• Track your progress and performance
• Make informed decisions and adjustments

Think of your real estate business planning as your GPS, guiding you from your current situation to your desired destination. It serves as your North Star, keeping you focused and on track, even in challenging times. Invest the time to create a solid business plan, and you’ll be well-positioned to succeed in your market and achieve your goals. Your future self will appreciate the effort you put in now.

Before we dive into this section, get our real estate business plan template ( click here to go back up to grab it ) and work through it as I explain each section. I’ll give you some direction on each element to help you craft your own business plan.

1. Identify Who You Are as a Real Estate Agent

Let’s start with your “why.” Understanding your purpose for choosing real estate is crucial because it is the foundation for your business plan and guides your decision-making process. Defining your mission, vision, and values will help you stay focused and motivated as you navigate your real estate career.

Mission: Your mission statement defines your purpose for choosing real estate. It clearly states what you’re trying to do, the problem you want to solve, and the difference you want to make.

Ex: Wanda Sellfast’s mission is to empower first-time homebuyers in Sunnyvale, California, to achieve their dream of homeownership and build long-term wealth through real estate.

Vision: Your vision statement focuses on the ultimate outcome you want to achieve for your clients and community.

Ex: Wanda Sellfast’s vision is a Sunnyvale, where everyone has the opportunity to own a home and build a stable, secure future, creating a more inclusive and prosperous community for all.

Values: Your core values are the guiding principles that shape your behavior, decisions, and interactions with clients and colleagues.

Ex: Wanda Sellfast’s core values include:

• Integrity: Being honest, transparent, and ethical in all dealings.
• Dedication: Being devoted to clients’ success and going the extra mile.
• Community: Building strong, vibrant communities and giving back.

Clearly defining your mission, vision, and values lays the foundation for a strong and purposeful real estate business that will help you positively impact your clients’ lives and your community.

2. Analyze Your Real Estate Market

As a real estate pro, you must deeply understand your local market. This knowledge includes knowing key metrics such as average days on market, average price points, common home styles and sizes, and demographic trends. When someone asks about the market, you should be able to confidently roll those numbers off your tongue without hesitation.

To quickly become the local expert, choosing specific farm areas to focus on is crucial. Concentrate your marketing efforts and build your local knowledge in a handful of communities and neighborhoods.

Some places to do research include:

• Your local MLS: Check your hot sheet daily
• Zillow: Check out the Premier Agents who show up in your neighborhood
• Social media: Who is targeting their posts to your area?
• Direct mail: Check your mailbox for flyers and postcards
• Drive by: Drive through your farm areas to see who has signs in yards

Once you’ve identified your target areas, start conducting comparative market analyses (CMAs) to familiarize yourself with the properties and trends in those neighborhoods. That way, you’ll provide accurate insights to your clients and make informed decisions in your business.

Remember to research your competition. Understand what other agents working in the same area are doing, who they’re targeting, and identify any gaps in their services. This understanding will help you differentiate yourself from your competition and better serve your clients’ needs. In our real estate business planning template, I ask you to examine and record:

• Trends: Track key metrics, such as days on market and average sold prices, to stay informed about your specific market.
• Market opportunities: Identify situations where there are more buyers and sellers (or vice versa) in the marketplace so you can better advise your clients and find opportunities for them and your business.
• Market saturation: Recognize areas where there may be an oversupply of certain property types or price points, allowing you to adjust your strategy accordingly.
• Local competition: Analyze your competitors’ strengths, weaknesses, and gaps in their services to identify opportunities for differentiation and possibilities to create a more meaningful impact.

Remember, real estate is hyper-local. While national and state news can provide some context, your primary focus should be on specific needs and trends within your target areas and the clients you want to serve. By thoroughly analyzing your local real estate market, you’ll be well-equipped to make informed decisions, provide valuable insights to your clients, and ultimately build a successful and thriving business.

3. Identify Your Ideal Client

When creating your real estate business plan, it’s crucial to identify your ideal client. You can’t be everything to everyone, no matter how much you think you should. And trust me, you certainly don’t want to work with every single person who needs real estate advice. By focusing on your ideal client, you’ll create a targeted marketing message that effectively attracts the right people to your business—those you want to work with. 

Think of your target market as a broad group of people who might be interested in your services, while your ideal client is a specific person you are best suited to work with within that group. To create a detailed profile of your ideal client, ask yourself questions like:

• What age range do they fall into?
• What’s their family situation?
• What’s their income level and profession?
• What are their hobbies and interests?
• What motivates them to buy or sell a home?
• What are their biggest fears or concerns about the real estate process?

Answering these questions will help you create a clear picture of your ideal client, making it easier to tailor your marketing messages and services to meet their needs. Consider using this ideal client worksheet , which guides you through the process of creating a detailed client avatar. This will ensure you don’t miss any important aspects of their profile, and you can refer back to it as you develop your marketing plan .

By incorporating your ideal client into your overall business plan, you’ll be better equipped to make informed decisions about your marketing efforts, service offerings, and growth strategies. This clarity will help you build stronger relationships with your clients, stand out from the competition, and ultimately achieve your real estate business goals.

4. Conduct a SWOT Analysis

If you want to crush it in this business, you’ve got to think like an entrepreneur. One of the best tools in your arsenal is a SWOT analysis. It sounds ominous, but don’t worry, it’s actually pretty simple. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. It’s all about taking a good, hard look at yourself and your business.

By conducting a SWOT analysis as part of your real estate business plan, you’ll have a clear picture of your current situation and your future goals. And don’t just do it once and forget about it—review and update it regularly to stay on top of your game.

5. Establish Your SMART Goals

If you want to make it big in real estate, setting goals is an absolute must . But not just any goals— I’m talking about SMART goals . SMART stands for Specific , Measurable , Achievable, Relevant , and Time-bound . It’s like a recipe for success, ensuring your goals are clear, realistic, and have a deadline.

Your SMART goals are an integral part of your overall business plan for real estate. They should be stepping stones to help you achieve your long-term vision and mission. So, analyze your SWOT analysis, ideal client, and market, and craft goals that will help you dominate your niche.

Example Smart Goal: Close 10 transactions in the next quarter.

Make sure to provide as many details as possible behind your goals. Don’t just say, “I want to sell more houses.” That’s too vague. In the example above, the goal is specific: “close 10 transactions.”

If you can’t measure your progress, how will you know if you’re crushing it or falling behind? Ensure your goals have numbers attached to track your success or see where you need to focus more energy. “Close 10 transactions” has a specific number, so you have a way to measure your progress.

I know you’ve got big dreams for your real estate business , but Rome wasn’t built in a day. Set goals that stretch you beyond your comfort zone but are still achievable. This way, you’ll gain confidence, build momentum, and push yourself to new heights. Closing 10 transactions in a quarter is a lofty goal, but it’s still achievable. Your goals should stretch you but still be within your reach.

Relevant goals are the ones that actually move the needle for your business. Sure, becoming the next TikTok sensation might be a lot of fun, but unless TikTok generates most of your clients, it won’t help you close more deals. Your goals should be laser-focused on the activities and milestones that will help you grow your real estate career. In the example above, the goal is specifically related to real estate. 

Deadlines are your friend. Without a timeline, your goals are just wishes. Give yourself a precise end date and work backward to create a plan of action. In the example, the deadline for achieving the goal is the end of the current quarter. If you don’t achieve the goal, you can evaluate where the shortfall was and reset for the next quarter.

“Setting goals is the first step in turning the invisible into the visible.”

Tony Robbins

Remember, just like your SWOT analysis, your goals aren’t set in stone. Review and adjust them regularly to stay on track and adapt to business and market changes.

6. Create Your Financial Plan

Financial planning might not be your idea of a good time, but this is where your real estate business plan really comes together. Thanks to all the research and strategizing you’ve done, most of the heavy lifting is already done. Now, it’s just a matter of plugging in the numbers and ensuring everything adds up.

In this real estate business plan template section, you’ll want to account for all your operating expenses. That means everything from your marketing budget to your lead generation costs. Don’t forget about the little things (like printer ink, file folders, thank you cards, etc.)—they might seem small, but they can add up quickly. Some typical expenses to consider include:

• Marketing and advertising (business cards, website , social media ads )
• Lead generation ( online leads , referral fees, networking events )
• Office supplies and equipment (computer, printer, software subscriptions )
• Transportation (gas, car maintenance, parking)
• Professional development (training, courses, conferences )
• Dues and memberships (MLS fees, association dues)
• Insurance (errors and omissions, general liability)
• Taxes and licenses (business licenses, self-employment taxes)

Once you’ve figured out your expenses, it’s time to reverse-engineer the numbers and determine how many deals you need to close each month to cover your costs. If you’re just starting out and don’t have a track record to go off of, no worries! This planning period allows you to set a budget and create a roadmap for success.

Pro tip: Keep your personal and business finances separate. Never dip into your personal cash for business expenses. Not only will it make tax time a nightmare, but it’s way too easy to blow your budget without even realizing it.

If you’re evaluating your starting assets and realizing they don’t quite match your startup costs, don’t panic. This new insight is just a sign that you must return to the drawing board and tweak your strategy until the numbers line up. It might take some trial and error, but getting your financial plan right from the start is worth it.

7. Track Your Progress & Adjust as Needed

You’ve worked hard and created a killer real estate business plan, and you’re ready to take on the world. But remember, your business plan isn’t a one-and-done deal. It’s a living, breathing document that needs to evolve as your business grows and changes. That’s why it’s so important to track your progress and make adjustments along the way. 

Here are a few key things to keep in mind:

• Set regular check-ins: Schedule dedicated time to review your progress and see how you’re doing against your goals, whether weekly, monthly, or quarterly.
• Keep an eye on your KPIs: Your key performance indicators (KPIs) are the metrics that matter most to your business. Things like lead generation, conversion rates, and average sales price can give you a clear picture of your performance.
• Celebrate your wins: When you hit a milestone or crush a goal, take a moment to celebrate. Acknowledging your successes will keep you motivated and energized.
• Don’t be afraid to pivot: If something isn’t working, change course. Your real estate business plan should be flexible enough to accommodate new opportunities and shifting market conditions.
• Stay accountable: Find an accountability partner, join a mastermind group, or work with a coach to help you stay on track and overcome obstacles.

“It’s the small wins on the long journey that we need in order to keep our confidence, joy, and motivation alive.”

Brendon Burchard

Remember, your real estate business plan is your roadmap to success. But even the best-laid plans need to be adjusted from time to time. By tracking your progress, staying flexible, and keeping your eye on the prize, you’ll be well on your way to building the real estate business of your dreams.

How do I start a real estate business plan?

Use this step-by-step guide and the downloadable real estate business plan template to map your business goals, finances, and mission. Identify your ideal client so you can target your marketing strategy. Once you’ve completed all the business plan elements, put them into action and watch your real estate business grow.

Is starting a real estate business profitable?

In the most simple terms, absolutely yes! Real estate can be an extremely profitable business if it’s run properly. But you need to have a roadmap to follow to keep track of your spending vs income. It’s easy to lose track of expenses and overextend yourself when you don’t have a set plan.

How do I jump-start my real estate business?

One of the easiest ways to jump-start any business is to set clear goals for yourself. Use this guide and the downloadable template to ensure you have clear, concise, trackable goals to keep you on track.

How do I organize my real estate business?

Start by setting some SMART goals to give yourself a concrete idea of what you see as success. Then, make sure you’re using the right tools—customer relationship manager (CRM), website, digital document signing, digital forms, etc., and make sure you have them easily accessible. Try keeping most of your business running from inside your CRM. It’s much easier to keep everything organized if everything is in one place.

Now, you have a step-by-step guide to creating a real estate business plan that will take your career to the next level. Taking the extra time to map your path to success is an essential step in helping you achieve your goals. Spend the extra time—it’s worth it. Now, it’s time to do the work and make it happen. You’ve got this!

Have you created your real estate business plan? Did I miss any crucial steps? Let me know in the comments!

As a licensed real estate agent in Florida, Jodie built a successful real estate business by combining her real estate knowledge, copywriting, and digital marketing expertise.

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Real Estate | How To

How to Write a Real Estate Business Plan (+ Free Template)

Published June 30, 2023

Published Jun 30, 2023

REVIEWED BY: Gina Baker

WRITTEN BY: Jealie Dacanay

This article is part of a larger series on How to Become a Real Estate Agent .

• 1 Write Your Mission Statement
• 2 Conduct a SWOT Analysis
• 3 Set Specific & Measurable Goals
• 4 Plan Your Marketing Strategies & Tactics
• 5 Create a Lead Generation & Nurturing Strategy
• 6 Calculate Your Income Goal
• 7 Set Times to Revisit Your Business Plan
• 8 Why Agents Need a Real Estate Business Plan
• 9 Real Estate Business Plan Examples & Templates
• 10 Bottom Line
• 11 Frequently Asked Questions (FAQs)

A real estate business plan lays the groundwork and provides direction on income targets, marketing tactics, goal setting, lead generation, and an overview of your industry’s competition. It describes your company’s mission statement in detail and assesses your SWOT (strengths, weaknesses, opportunities, and threats) as an organization. Business plans should include measurable goals and financial projections that you can review periodically throughout the year to ensure you meet your goals.

Continue reading to see real estate business plan examples and discover how to write a real estate business plan. Start by making your own by downloading and using the free real estate business plan template we’ve provided below.

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Real Estate Business Plan Template

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💡Quick tip:

Market Leader provides a comprehensive paid inbound lead, automated marketing, and CRM solution to help agents acquire, engage, and nurture real estate leads.

Furthermore, Market Leader offers and guarantees you a number of exclusive seller and buyer leads in your target niche at a monthly rate.

1. Write Your Mission Statement

Every real estate agent’s business plan should begin with a mission statement, identifying your values and why your business exists. Your mission statement serves as the guide to achieving your ultimate business objective. When you create a solid clear mission statement, all other items identified in your realtor business plan should be aimed at fulfilling this statement.

Compass’ mission statement: “Our mission is to help everyone find their place in the world.” (Source: Compass )

Your mission statement should identify your target audience, what product or service you provide, and what makes your business distinct. As seen in the example above, a powerful mission statement should be short and concise but sums up a business objective.

Let’s take Compass’ mission statement above as an example: “Our mission is to help everyone find their place in the world.” The statement identifies what the company offers, for what reasons, and who it benefits.

2. Conduct a SWOT Analysis

SWOT is an acronym that stands for a business’ strengths, weaknesses, opportunities, and threats. The primary objective of these four elements is to assess a business by evaluating internal and external factors that can drive decision-making and help you make more money . Conducting a SWOT analysis as you develop your business plan for real estate uncovers opportunities to differentiate yourself from the massive competition currently on the market.

Strengths & Weaknesses

Strengths and weaknesses are internal parts of your organization. Strengths identify what product or services you provide better than others, your access to resources, and items that benefit your customers. Weaknesses are items that need improvement, lack of resources, or what your competition does better. These are items within your control to change because you can convert a weakness into a strength.

See the example below if “Agent X” was doing their SWOT analysis:

Opportunities & Threats

External factors drive opportunities and threats and are areas you can take advantage of to benefit your business. Examples of opportunities can be shifts in the current marketplace, emerging trends you can capitalize on, features that competitors lack, or even changes with your competitors. Threats, on the other hand, are anything that can negatively impact your business. You don’t have control over changing the opportunities or threats, but you can develop a practice to anticipate and protect your business against the threats.

The opportunities and threats for “Agent X” would be:

When you complete your SWOT analysis, use it as a guide when creating strategies to meet your business objectives. To gain the most benefit from creating a SWOT analysis, make sure you are being realistic about your business and evaluating it in its present state. You don’t want to be unrealistic by listing strengths or opportunities that don’t exist yet, and you want to allocate time and money to the most impactful solution to your business issues.

If “Agent X” completed the above SWOT analysis, a few strategies they could derive would be:

• Incentivize agents to keep them at the brokerage for longer
• Implement a technology-based key machine to reduce lost keys and keep the team accountable
• Find a competitive advantage against competing brokerages and use that in marketing messages

Zillow agent finder (Source: Zillow )

To help agents locate other brokerages operating in your preferred market, agents can use Zillow’s agent finder page as a research tool to see which agents or brokerages are operating in a specific area. You can find an agent by location, name, specialty, and language. Once you click on a Zillow profile , you can read their reviews, see their team members, contact and website information, and property listings. Take a deep dive into your competitor profiles and can use the information to implement strategies within your own business.

Visit Zillow

Read how our experts feel about this real estate lead generation company in our Zillow Premier Agent review .

3. Set Specific & Measurable Goals

You’re ready to set some business goals after clearly defining your mission statement and SWOT analysis. Goals can help set the tone to increase your performance and drive your business in the right direction. Your goals should have a definitive way to show progress, which can be a prime motivator to keep you on track to achieving them.

Each goal should follow a pattern to identify set criteria. This will ensure that your daily efforts are performed to meet business objectives within a set period. A way to do this is by using SMART goals:

Examples of SMART goals for agents or brokerages:

• Increase closed transactions by 20% to a total of 150 deals within the next year
• I will ask all closed clients for a referral and review within 30 days of closing the deal

Goals can be split into short-term and long-term goals. Short-term goal lengths vary between days and weeks but do not exceed six months. Short-term goals can also be worked on simultaneously with long-term goals. Long-term goals can take up to six months or more to complete and require careful planning and perseverance. A mix of short-term and long-term goals will help you maintain motivation.

All goals are equally important; however, success will stem from how you prioritize each one. Slowly add on additional goals as you have the capacity and feel comfortable with the current progress of your current set of goals. Without identifying your business goals, you’ll leave your results up to luck to attain your business objectives.

4. Plan Your Marketing Strategies & Tactics

Developing marketing strategies and tactics and implementing them help you identify and locate your current value proposition in the real estate industry, along with specific timelines for execution. In addition to determining your overall business objectives and goals, your marketing strategy and plan should include the following:

• Pinpoint general marketing goals
• Estimate projected marketing budget
• Know your geographic farm area data and identify your target niche audience
• Analyze market competition
• Identify your unique selling proposition
• Establish a timeline and set your plan in motion
• Track your progress and readjust as needed

While a marketing strategy identifies the overall marketing goals of your business, developing marketing tactics will help you achieve those individual goals. They can include referral business tactics, retention efforts, and ways to acquire new customers. For example, you can offer incentives to anyone who refers your business, or you can implement new email drip campaigns to help increase lead conversion rates.

These tactics should have set key performance indicators (KPIs) to help you evaluate your performance. For instance, a KPI you can set for your business could be that referral business should exceed 20% of your lead generation sources.

If you’re unsure how to put together your marketing plan, check out our article Real Estate Marketing Plan Template & Strategy Guide and download the free template to get started.

Postcard campaign example (Source: ProspectsPLUS! )

If direct mail is part of your promotion strategy, services like ProspectsPLUS! can help easily create and distribute mailers to a targeted area. It also has options for postcards , brochures, newsletters , flyers, and folders. You can also send mailers to prospective clients by geographic or demographic farm areas through its campaigns. Check out its templates and mailing options today.

Visit ProspectsPLUS!

Read how our experts feel about this real estate direct mail service in our ProspectsPLUS! review .

5. Create a Lead Generation & Nurturing Strategy

Having a successful lead generation strategy will help you maintain business growth. Lead generation can be performed organically and through paid advertisements to attract and convert prospective clients. In addition to generating leads, agents should have systems to manage, nurture, and re-engage with contacts to maximize opportunities.

Generating leads through a multipronged approach is the best way to maintain lead flow. Use organic strategies like hosting an open house, reaching out to your sphere of influence, and attending networking events. Employ paid generation strategies, such as purchasing leads from a lead generation company or setting up a website to funnel potential clients. Your marketing strategies will directly correlate with your lead generation strategies.

Every lead is an opportunity, even if they don’t immediately convert into a deal. Effectively nurturing leads can make sure no opportunity falls through the cracks. Agents can nurture leads by continuously engaging and developing relationships with prospective leads . It’s important to provide prospective clients with a constant flow of essential and relevant information, depending on where they are in the real estate buying or selling process.

Here are the top lead generation companies for real estate agents and brokers:

Engage more efficiently with buyer and seller leads using Market Leader’s new feature Network Boost. Network Boost has shown a 40% increase in agents successfully connecting with leads. Market Leader social media experts design highly targeted and optimized ads for your Instagram and Facebook. As visitors engage with your ads, they will be prompted to complete a form and funnel directly into your Market Leader client relationship manager (CRM). This will also trigger an automatic marketing campaign that nurtures your clients and lets you know they are ready to engage with you personally. Try Market Leader’s Network Boost today.

6. Calculate Your Income Goal

Your income goal is one of the most critical items to be included in your business plan. While this may be more difficult for new agents who are still learning the business, it’s still necessary to estimate the amount of money you will earn for the year. Work with an experienced agent or mentor to help you estimate your monetary goals. For professional agents, review your previous years to judge your income goals for the upcoming year.

To calculate your income goal and the amount of work you’ll need to complete to get to that goal, you’ll need to have some basic number estimates:

• Net income: The amount of money you will put in your pocket after commission splits with your real estate brokerage.
• Fee split with brokerage: This is the agreed-upon commission split you have with your brokerage for each completed transaction. For example, if you have a 70/30 split with your brokerage, you will collect 70% of the commission, and your brokerage will receive a 30% commission for each deal.
• Estimate of completed deals per year: You also want to estimate the number of deals you intend to complete yearly. Remember that some months will be busier than others, so make sure to account for holidays, weather, and your schedule.

Real Estate Yearly Goal Calculator

By figuring out these numbers, you can give yourself a realistic number for your income goal. Compute the gross income commission (GCI) or amount of money you must make before the commission splits and the average profit per deal and month you’ll need to reach your goal.

For a more detailed breakdown of your yearly goal, download and use our yearly goal calculator. Input your information into the highlighted yellow boxes, and the spreadsheet will automatically calculate the GCI, total deal count, and gross income you’ll have to earn each month to reach your goal. Adjust the average gross commission per deal and brokerage split as necessary.

FitSmallBusiness Year Goal Calculator

For additional information on real estate agent salaries, review our article Real Estate Agent Salary: How Much Do Real Estate Agents Make?

7. Set Times to Revisit Your Business Plan

Business plans are only effective if you use them. A business plan is a roadmap for your business, and you’ll need to revisit it often to ensure you’re staying on track. It should be a constant resource to guide you through meeting your goals and business objectives, but it’s not necessarily set in stone if you need to make any changes.

Agents should revisit their business plans monthly to measure progress and make any changes to stay the course. If you find that you’re missing the times set for your goals, then you should continue to revisit your business plan regularly. Changing the business plan itself should occur annually once you can have a complete picture of your yearly performance. Evaluating the business plan can help you discover new strategies and ensure you have the appropriate resources for the upcoming year.

Overall status of sales activities in the dashboard (Source: Pipedrive )

Sales software like Pipedrive can help you track your overall business performance when revisiting your business plan. It presents company sales data in easy-to-visualize dashboards that track your business performance and contains forecasting tools to project future revenue. It can maintain company and team goals with progress tracking to keep goals top of mind.

Visit Pipedrive

Read how our experts feel about this real estate customer relationship manager (CRM) system in our Pipedrive review .

Why Agents Need a Real Estate Business Plan

A real estate business plan keeps you up to date on market developments and one step ahead of your competitors. It also enables you to test lead-generating tactics and create new marketing campaigns while keeping track of results over time. A solid business plan for a real estate agent presents the following:

• Where you are at the moment
• Where you would like to be
• How you’re going to get there
• How to evaluate and measure your performance
• When and when to correct the course

Real Estate Business Plan Examples & Templates

Real estate agents and brokerages don’t have to build their business plans from scratch, as many resources provide different examples. Business plan templates can also have different objectives. Some are used to secure financing or help you focus on lead generation, while others are single-page plans meant to get you started.

Here are five real estate business plan examples you can use to create yours:

Lead Generation & Income Plan

Market Leader business plan example (Source: Market Leader )

This business plan is from Market Leader, a third-party lead generation platform. It specializes in lead generation, marketing, and converting leads into customers with an attractive IDX (Internet Data Exchange) website and robust automation tools. Agents can also participate in purchasing leads through their lead products to receive a guaranteed number of leads per month.

A Single-page Business Plan

Business plan for real estate (Source: PngFind )

Agents who are new to writing a business plan can start small. Business plans do not have to be multipage to be effective. This single-page business plan helps identify a single goal followed by three areas to focus on and five objectives for each focus area. As real estate agents begin to feel comfortable with goal setting and completion, they can continue to add to this single-page business plan with duplicate pages, identifying additional goals.

Business Plan for Real Estate Brokers

Real estate broker business plan (Source: AgentEDU )

This robust real estate broker business plan is designed to address organization and management goals. It contains pages identifying personnel information like title, job description, and salary. The business plan also encourages the broker to identify operational goals for future personnel changes. It’s best suited for a broker with a larger team to help drive operational change.

Business Plan With Detailed Financials

Example of real estate agent business plan template (Source: FinModelsLab )

This multipage business plan contains eye-catching graphics and detailed company financial information for real estate agents and brokers seeking funding from outside investors. One of the last sections of the business plan is a financial planning section geared toward showing how viable your business is through your provided income statements, cash flow, and balance sheet reports.

Real Estate Developers’ Business Plan

Realtor business plan template sample (Source: Upmetrics )

Upmetrics’ real estate business plan templates are easy to edit and share and contain professional cover pages to help agents convert their business ideas into actionable goals. The business plans from Upmetrics are geared toward agents looking to transition into real estate development. This plan includes vital sections important for a developer to analyze, such as building location, demand for housing, and pricing.

Real estate CRM (Source: Market Leader )

Market Leader’s business plan is centered around driving more business through lead generation. It helps agents understand their lead sources, average sales price, and how much commission was earned in a given year. It also allows agents to set income and transactional goals for the following year.

Visit Market Leader

Bottom Line

Whether you are a new real estate agent or looking to grow your brokerage, writing a real estate business plan template will help you define the steps needed to build a successful business . It serves as a guided roadmap to help you achieve your business goals, identify areas of improvement, and provide guidance in all aspects of your business, from marketing, operations, and finance to your products and services. Business plans can help determine if your business is viable and worth the financial investment.

Frequently Asked Questions (FAQs)

What is a real estate business plan.

A real estate business plan is a document that presents an outline of your organizational goals. A business plan lays out future company goals and structured procedures to achieve them. Business plans commonly contain plans for one to five years at a time, though they can differ from investor to investor.

A real estate business plan will put you in a position to succeed while also assisting you in avoiding potential pitfalls. It serves as a guide to follow when things go as expected and when they diverge from the initial plan of action. Also, a real estate business plan will ensure that investors know the steps they need to take to succeed.

How do I jump-start my real estate business?

It is important to note that starting a real estate business is not a simple task. Before launching a firm in any field, entrepreneurs should spend numerous hours researching and developing a solid business plan. As you start your real estate business, use the following tips as guidance:

• Think about your professional goals
• Conduct extensive research
• Organize your finances
• Create a business plan
• Establish an LLC
• Make a marketing plan
• Create a website
• Start campaigns
• Keep track of leads
• Develop a network of connections

How can I grow my real estate business?

You can use multiple strategies and ways to grow your real estate business. They include:

• Assess your current situation
• Invest in your professional growth
• Establish strategic alliances
• Take advantage of omnichannel marketing
• Start blogging
• Create consistent social media profiles and campaigns
• Improve your website
• Consider working with a marketing company
• Optimize your signs and direct mail

About the Author

Find Jealie On LinkedIn

Jealie Dacanay

Jealie is a staff writer expert focusing on real estate education, lead generation, marketing, and investing. She has always seen writing as an opportunity to apply her knowledge and express her ideas. Over the years and through her internship at a real estate developer in the Philippines, Camella, she developed and discovered essential skills for producing high-quality online content.

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Real Estate Agency Business Plan PDF Example

• May 7, 2024
• Business Plan

Creating a comprehensive business plan is crucial for launching and running a successful real estate agency. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your real estate agency’s identity, navigate the competitive market, and secure funding for growth.

This article not only breaks down the critical components of a real estate agency business plan, but also provides an example of a business plan to help you craft your own.

Whether you’re an experienced entrepreneur or new to the real estate industry, this guide, complete with a business plan example, lays the groundwork for turning your real estate agency concept into reality. Let’s dive in!

Our real estate agency business plan covers all essential aspects necessary for a comprehensive strategy. It details operations, marketing strategy , market environment, competitors, management team, and financial forecasts.

• Executive Summary : Provides an overview of the real estate agency’s business concept, market analysis , management, and financial strategy.
• Real Estate Brokerage Services & Fees: Describes the brokerage services including property sales and acquisitions, along with a fee structure.
• Property Management Services & Fees: Outlines property management services offered and their respective fees.
• Key Stats : Offers data on industry size , growth trends, and market positioning.
• Key Trends: Highlights significant trends impacting the industry, such as digital transformation and changing buyer preferences.
• Key Competitors : Analyzes primary competitors and differentiates the agency from these competitors.
• SWOT : Analyzes strengths, weaknesses, opportunities, and threats.
• Marketing Plan : Outlines tactics for attracting new clients and maintaining relationships.
• Timeline : Sets out key milestones from inception through the first year of operations.
• Management: Information on the management team and their roles within the agency.
• Financial Plan: Projects the agency’s financial performance over the next five years, detailing revenue, profits, and anticipated expenses.

Real Estate Agency Business Plan

Fully editable 30+ slides Powerpoint presentation business plan template.

Download an expert-built 30+ slides Powerpoint business plan template

Executive Summary

The Executive Summary introduces your real estate agency’s business plan, offering a concise overview of your agency and its services. This section outlines your market positioning, the variety of real estate services offered—including property sales, rentals, and property management—its location, size, and a description of day-to-day operations.

This section should also discuss how your real estate agency will integrate into the local market, including the number of direct competitors within the area, identifying who they are, along with your agency’s unique selling points that differentiate it from these competitors.

Additionally, you should include information about the management and co-founding team, detailing their roles and contributions to the agency’s success. Furthermore, a summary of your financial projections, including revenue and profits over the next five years, should be presented here to provide a clear picture of your agency’s financial plan.

Make sure to cover here _ Business Overview _ Market Overview _ Management Team _ Financial Plan

Dive deeper into Executive Summary

Business Overview

For a Real Estate Agency, the Business Overview section can be concisely divided into 2 main slides:

Real Estate Brokerage Services & Fees

Briefly describe the agency’s professional and welcoming office environment and its conveniently located premises near major residential and commercial areas, which enhances accessibility and client traffic. Detail the range of real estate brokerage services including buying, selling, and leasing properties, and discuss the agency’s fee structure, which is typically based on a percentage of the property sale or lease price, reflecting the high quality of service and market alignment.

Property Management Services & Fees

Describe the comprehensive property management services offered that cover tenant screening, rent collection, maintenance, and financial reporting. The pricing for these services is usually based on a percentage of monthly rental income or a flat monthly fee, with potential additional charges for special services like emergency maintenance or tenant placement, ensuring landlords a hassle-free ownership experience.

Make sure to cover here _ Real Estate Brokerage Services & Fees _ Property Management Services & Fees

Market Overview

Industry size & growth.

In the Market Overview of your real estate agency business plan, start by examining the size of the real estate industry and its growth potential. This analysis is crucial for understanding the market’s scope and identifying expansion opportunities.

Key Market Trends

Proceed to discuss recent market trends , such as the increasing consumer interest in sustainable and eco-friendly properties, the growing demand for smart homes equipped with the latest technology, and the rising popularity of urban living spaces among millennials and young professionals. For example, highlight the demand for properties that cater to specific lifestyle needs, alongside the rising preference for locations with comprehensive amenities and green spaces.

Key Competitors

Then, consider the competitive landscape, which includes a range of agencies from large national firms to local boutiques, as well as online real estate platforms. For example, emphasize what makes your agency distinctive, whether it’s through exceptional customer service, a unique range of property management services, or specialization in certain types of properties such as luxury homes or commercial real estate. This section will help articulate the demand for real estate services, the competitive environment, and how your agency is positioned to thrive within this dynamic market.

Make sure to cover here _ Industry size & growth _ Key competitors _ Key market trends

Dive deeper into Key competitors

First, conduct a SWOT analysis for the real estate agency , highlighting Strengths (such as experienced realtors and a diverse property portfolio), Weaknesses (including high agent turnover or reliance on local market conditions), Opportunities (for example, the growing demand for rental properties or the potential for tapping into luxury real estate markets), and Threats (such as fluctuations in real estate prices or new housing regulations that may impact operations).

Marketing Plan

Next, develop a marketing strategy that outlines how to attract and retain clients through targeted advertising, promotional events like open houses, an engaging online presence, and community involvement. This strategy should also incorporate using social media platforms to showcase properties and share customer testimonials, enhancing the agency’s visibility and client engagement.

Finally, create a detailed timeline that outlines critical milestones for the real estate agency’s launch, marketing initiatives, client acquisition, and expansion goals. This timeline should ensure that the business moves forward with clear direction and purpose, setting specific objectives for brand establishment, market penetration, and long-term growth.

Make sure to cover here _ SWOT _ Marketing Plan _ Timeline

Dive deeper into SWOT

Dive deeper into Marketing Plan

The Management section focuses on the real estate agency’s management and their direct roles in daily operations and strategic direction. This part is crucial for understanding who is responsible for making key decisions and driving the real estate agency toward its financial and operational goals.

For your real estate agency business plan, list the core team members, their specific responsibilities, and how their expertise supports the business.

Financial Plan

The Financial Plan section is a comprehensive analysis of your financial projections for revenue, expenses, and profitability. It lays out your real estate agency’s approach to securing funding, managing cash flow, and achieving breakeven.

This section typically includes detailed forecasts for the first 5 years of operation, highlighting expected revenue, operating costs and capital expenditures.

For your real estate agency business plan, provide a snapshot of your financial statement (profit and loss, balance sheet, cash flow statement), as well as your key assumptions (e.g. number of customers and prices, expenses, etc.).

Make sure to cover here _ Profit and Loss _ Cash Flow Statement _ Balance Sheet _ Use of Funds

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Privacy Overview

Best 10 Step Real Estate Agent Business Plan Template [FREE]

Business plan template and pdf for new and growing real estate agents, goal setting and plan development for real estate agents.

Introduction:

Having a dialed in business plan and model is one of the most important parts of being a real estate agent. Have you ever woken up in the morning as a real estate agent and not known what you were going to do that day? You had a plan at the start of the year, but you just aren’t sure what happened to that motivation you had when you first started your year (or career if you are brand new to real estate).

A real estate agent business plan is your personal guide to keep you on track as you move through your year in real estate. In this plan, you will set goals and reverse engineer how you will achieve them. Reverse engineering your business plan is one of the most powerful things you can do to get to the next level.

Reverse engineering your business plan is one of the most powerful things you can do to get to the next level.

Reverse engineering in real estate is taking where you want to go and making sense of “how” you will get there. It’s commonly said that “a goal without a plan is just a dream”. If your production goal is $100,000 this year, let’s try to formulate an actionable plan to get you there.

By setting and following this plan, your chances of success are exponentially better. A word of warning: you will not always want to follow this plan! There will be days when a little internal voice tells you it's alright to skip today. Don't listen to that voice. Stick to the plan and the plan will work for you. Remember that real estate is a long-term game and you need to maintain execution throughout the year.

Focus on the daily tasks and not the end result.

If you reverse engineer your goal down to daily tasks, all you need to do is wake up and accomplish your daily tasks!

Let’s dive into the plan!

What you need:  Previous year's income/expenses and the number of people in your database. No worries if you are brand new and don't have this yet! If you are a beginner real estate agent looking for a business plan, this will work perfectly, you just need the number of people in your database

Download The Business Plan Now

There are various business plans out there all with their features and benefits. For example, Icenhower (The Real Estate Traine r) has a great one-page business plan. Also, for new real estate agents, FitSmallBusiness has a great re source and NAR has one as well .

Rev Real Estate School’s Business Plan focuses closely on your database and meeting new people in order to accomplish your goals.

Step 1: Find Your Reason For Real Estate Success

In this step, you will look at the reasons for wanting to be successful. This step always seems so simple and most agents quickly move on to the numbers section, however, this is the most important part of the plan. In fact, it’s the reason you are selling real estate!

If you haven’t read “Start With Why” by Simon Sinek, make sure it is on your reading list! This book explains this step perfectly.

A quick note, make sure you are honest with the reasons you are looking for success. Commonly, we default to the easy answer saying we “want to help people”. Now this should be on your list of reasons why you sell real estate but don’t forget about the other important items

Examples: To reach financial freedom. To provide for my family. To fund my hobbies. To go travelling next winter. To care for my parents. To buy a new car. To improve the real estate industry. To help people reach their real estate goals

Step 2: Income and Expenses From Last Year

In this section of the real estate agent business plan, you will look at the previous year. This can be a real eye-opener for agents. Especially when they calculate their expenses for the year. One of the reasons for agents failing in real estate is not planning their expenses in relation to their income.

It is too easy to sign up for another piece of marketing software or lead gen system that promises you more deals than you can handle. This isn’t to say that choosing the right programs isn’t wise, in fact, we have some of our favourite tools for you to browse on Rev Real Estate School.

When calculating your expenses, we recommend categorizing in detail, however, for a simple business plan, we recommend sorting expenses into Operating, Listing, and Marketing & Growth Expenses.  

These are separated so we aren’t just tasked “reducing expenses”. Might as well just shut off the lights and try and play darts. How can you know where to start? For simplicity, these three categories, at least show us where we can tighten our grip on expenses.

Operating Expenses: These are the costs of running your business. Examples: cell phone, brokerage and board dues, car, insurance, computer, etc.

Listing Expenses: These are the costs to list a property. It’s best to keep these separate from marketing expenses as you may not want to cut out listing marketing costs before you cut other costs. Examples: brochures, listing photos, signage, 3D-tour, etc

Marketing & Growth: These are costs to grow your business. The can be some cross-over between Operating and Marketing & Growth depending on how you run your business, but in this category are items that could be removed, and your business would still run . Examples: website, CRM, additional training, online lead ads, postcards to your database, farming expenses, etc

Annual Gross Commission Income (GCI): Total Annual Expenses: (If you don't have a full year, you can take the average of your months in the industry and extrapolate) Operating Expenses: Listing Expenses: Marketing & Growth Expenses: Net Income = GCI - Total Expenses:

Step 3: Expense Review

This is your chance to look at those bank statements for the last year (or the time you have been in business) and question each one of those items. If you don’t have an accounting and expense tracking tool, we recommend QuickBooks. Their clear reporting style, ease of use, and very reasonable price make them a great option for real estate agents.

No worries if you do not have QuickBooks or a similar program, just grab your bank statements and go through line by line to see if there are any expenses that can be cut.

Don’t underestimate the power of reducing expenses when it comes to your real estate business plan. After years in the real estate industry, I still didn’t have a proper way of tracking my expenses. When I finally got a handle on where my commissions were going, I was able to increase my net income substantially.

Look for certain expenses that can be cut, and, maybe, account for known future expenses.

Step 4: Playing with The Numbers

This is the fun part! In this section, you can play with the numbers and find a perfect balance of where you would like to end up this year.

In this plan, there are a few assumptions to bear in mind.

Ideally, you want to focus on households (vs. people), but if you are more comfortable working with a number of people, that is fine too.

Each household/person in your database is worth approximately $1,000 GCI to you. This is highly dependent on how you interact with your database and the market conditions. If the market conditions are slow, you may wish to tone this back to $800 “g”. If you are rock solid on your database marketing, maybe you increase this to $1,200 in “g”

For every 25 people you meet, 1 person enters your database.

You work 250 days (5 days/week for 50 weeks)

A person in your database is someone you could pick up the phone and call right now. If that number is low, no worries! It just means we need to work on adding names to your database and strengthening weak ties in your database.

Let's get planning! Note, a person in your database is someone you could pick up the phone and call right now. a) Annual Gross Commission Income Goal (GCI): b) Average Commission Per Transaction: c) Number of Deals (a/b): d) Number of People/Households in Database: e) Number of People/Households in Database Required (a/1,000):          (This will depend on how you interact with your database) f) Number of People/Households Needed in Database (e-d):          (If this is negative then you are set for a great year. See the important note in Step 5) g) Number of People You Need to Meet This Year (f*25):          (For every 25 people you meet, approximately 1 will enter your database)

Step 5: Meeting New People

In this section, you will calculate the number of people you need to meet every day to reach your goal! Fun, right?!

Real estate requires conversations. If you are in a slump, one of the simplest ways to change this just increases your number of conversations!

The number of people you will need to meet every work day is approximately (g/250): (250 days is working 5 days/week for 50 weeks) Aim to talk to 10 people per day for each person you need to meet. For example, if you need to meet 1 new person a day, aim for 10 conversations a day. If you need to meet 3 a day, then you will need to aim for 30 conversations a day. If you had a negative number for "f" then always shoot for a minimum of 10 people/day! 10 Conversations per day should be the minimum for all agents.

*VERY IMPORTANT* If "f" was a negative number then your main focus should be on improving how you interact with your database. If the above number seems high, then you will really need to focus on meeting new people this year.

Step 6: Streams of Business

Now that you have a handle on how many people you need to meet every day and the number of conversations you are going to aim for, it’s time to focus on how you will meet these people.

The beautiful thing about real estate is there are endless ways you can meet people and add them to your database. Below there are some examples to choose from, however, we recommend also thinking of ways you meet people that is unique to you and your network. If you love cars, then forming relationships with those that love cars can be an amazing source of business (plus these people always want larger garages). If you are passionate about a vegan lifestyle, then building relationships in this community can be a source of business.

Also, there can be some overlap. For example, you might be geographical farming, so you will be door knocking, working social media, and meeting people at events, however, the stream of business is geo-farming.

We recommend shooting for 4-5 streams of business to keep your pipeline full.

Examples: SOI/Past Clients, Social Media, FSBO, Geographic Farming , Demographic Farming, Online Leads , Open Houses, B2B Referrals (business contacts), Networking Associations, Builders, Buyer/Seller Seminars, Investors/Landlords, Relocation Companies, Door Knocking, Paid Leads, Sports, Clubs/Associations, Attorneys/Lender, Commercial Agents, Out of Town Agents Referrals, Giving/Charity Efforts

Step 7: Plan For Each Stream

Now it’s time to break down each of your 4-5 streams of business and determine your plan for each of these.

If you are a brand new real estate agent or you have joined part of the way through the year, just fill in a plan for the remainder of the months of the calendar year . That way you can start a fresh business plan next December.

Make sure your plan is challenging but achievable. Like an elastic band, you want it to stretch you but not break you.

Step 8: Plan For Each Stream

After you have put together your desired plan for each of your streams of business, take some time to budget for each of those activities.

If you are a new real estate agent, focus on activities vs. services. Use the additional time you have to choose activities that are free and focus less on the expensive marketing campaigns. As you build up your business, you may wish to increase your spending, but in the beginning, leverage the time you have.

Step 9: Plan Your Perfect Days

Real estate all comes down to skillset, mindset, and consistency. Every day in real estate can be different but we highly recommend having certain non-negotiables in your day.

Your Golden Hours should always be protected. Golden Hours is your time for prospecting, reaching out to new people, connecting with your database, and writing handwritten notes. These are usually the most challenging hours of the day but they will also lead to the majority of your income. Perfecting your website has a time and a place (and is important), however, your Golden Hours will really move the needle on your bank account most.

We recommend having 2 versions of your perfect day. That way you can decide which day of the week will be a Day 1 and Day 2.

Tom Ferry has a great daily schedule plan as does Easy Agent Pro

Step 10: Let’s Wrap It Up

Congrats, you are on the last step of your business plan. In this step, you take a true look at yourself and write down possible reasons why you will succeed or come up short.

Reasons for coming up short usually comes down to habits, consistency,  and lacking focus. Of course, there can be other reasons, but these are the common words put in this category. This section will show you exactly what you need to watch this year.

The final section is a reminder for yourself to keep going when times get challenging, and they will.

If we fall off our plan, it’s ok, forgive yourself but get right back after it as soon as possible.

You can do it!

Conclusion:

Congrats on completing your real estate agent business plan! Remember that real estate comes down to consistency and your business plan is here to keep you on track. Take your time going through your business plan a few times and playing with the numbers. Do some further research on your streams of business, then commit to the plan. Don’t spend months and months thinking about the plan. Commit to it and put it right into action using the reverse engineering techniques.

As you move through this year, reward yourself for your efforts. There is a lot that we cannot control in this world, but your effort is controllable.  

Finally, know that success feels great but it’s not a straight line. We need to endure hard days, weeks, months, and years and we should focus on enjoying the journey throughout our career. There will be challenges and pain (See Quote Below), but pushing through this discomfort is where the growth occurs.

“What pain do you want to sustain?” The quality of your life is not determined by the quality of your positive experiences but the quality of your negative experiences. And to get good at dealing with negative experiences is to get good at dealing with life - Mark Manso n

Follow Up Reading:

15 Best Prospecting Ideas For REALTORs®

Successful Real Estate Agent Daily Schedule

Top 10 Habit for REALTORs®

Do you currently have a business plan? Let me know in the comments if you use a business plan and what is the most important part of the business plan for you!

-Michael Montgomery

Successful Real Estate Agent Daily Schedule [Ultimate Guide]

Should you have a real estate sales meeting.

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Blog Business 5 Real Estate Business Plan Examples & How to Create One?

5 Real Estate Business Plan Examples & How to Create One?

Written by: Danesh Ramuthi Nov 28, 2023

Crafting a business plan is essential for any business and the real estate sector is no exception. In real estate, a comprehensive business plan serves as a roadmap, delineating a clear path towards business growth. 

It guides owners, agents and brokers through various critical aspects such as identifying target markets, devising effective marketing strategies, planning finances and managing client relationships.

For real estate businesses, a well-written plan is crucial in attracting potential investors, showcasing the company’s mission statement, business model and long-term income goals.

So, how can you write one?

Leveraging tools like Venngage Business Plan Make r with their Business Plan Templates to create your own real estate business plan can be transformative.

They offer a lot of real estate business plan examples and templates, streamlining the process of crafting a comprehensive plan.

Click to jump ahead: 

• 5 real estate business plan examples

How to write a real estate business plan?

• Wrapping Up

5 Real estate business plan examples

As I have said before, a well-crafted business plan is a key to success. Whether you’re a seasoned agent or just starting out, examples of effective real estate business plans can offer invaluable insights.

These examples showcase a range of strategies and approaches tailored to various aspects of the real estate market. They serve as guides to structuring a plan that addresses key components like market analysis, marketing strategies, financial planning and client management, ensuring a solid foundation for any real estate venture.

Real estate business plan example

There are various elements in a real estate business plan that must be integrated. Incorporating these elements into a real estate business plan ensures a comprehensive approach to launching and growing a successful real estate business. 

What are they?

• Executive summary: The executive summary is a concise overview of the real estate business plan. It highlights the mission statement, outlines the business goals and provides a snapshot of the overall strategy. 
• Company overview: An overview on the history and structure of the real estate business. It includes the company’s mission and vision statements, information about the founding team and the legal structure of the business. 
• Service: Here, the business plan details the specific services offered by the real estate agency. This could range from residential property sales and leasing to commercial real estate services. The section should clearly articulate how these services meet the needs of the target client and how they stand out from competitors.
• Strategies: A very crucial part of the plan outlines the strategies for achieving business goals. It covers marketing strategies to generate leads, pricing strategies for services, and tactics for effective client relationship management. Strategies for navigating market shifts, identifying key market trends and leveraging online resources for property listings and real estate listing presentations to help with lead generation are also included.
• Financial plan: The financial plan is a comprehensive section detailing the financial projections of the business. It includes income statements, cash flow statements, break-even analysis and financial goals. Besides, a financial plan section also outlines how resources will be allocated to different areas of the business and the approach to managing the financial aspects of the real estate market, such as average sales price and housing market trends.

Read Also: 7 Best Business Plan Software for 2023

Real estate investment business plan example

A real estate investment business plan is a comprehensive blueprint that outlines the goals and strategies of a real estate investment venture. It serves as a roadmap, ensuring that all facets of real estate investment are meticulously considered.

Creating a business plan for real estate investment is a critical step for any investor, regardless of their experience level Typically, these plans span one to five years, offering a detailed strategy for future company objectives and the steps required to achieve them.

Key components:

• Executive summary: Snapshot of the business, outlining its mission statement, target market, and core strategies. It should be compelling enough to attract potential investors and partners.
• Market analysis: A thorough analysis of the real estate market, including current trends, average sales prices and potential market shifts.
• Financial projections: Detailed financial plans, including income statements, cash flow analysis, and break-even analysis.
• Strategy & implementation: Outlines how the business plans to achieve its goals. This includes marketing efforts to generate leads, pricing strategies and client relationship management techniques.
• Legal structure & resource allocation: Details the legal structure of the business and how resources will be allocated across various operations, including property acquisitions, renovations and management.

Real estate agent business plan example

A real estate agent business plan is a strategic document that outlines the operations and goals of a real estate agent or agency. It is a crucial tool for communicating with potential lenders, partners or shareholders about the nature of the business and its potential for profitability.

A well-crafted real estate agent business plan will include

• Where you are today: A clear understanding of your current position in the market, including strengths, weaknesses and market standing.
• Where you aim to be: Sets specific, measurable goals for future growth, whether it’s expanding the client base, entering new markets or increasing sales.
• How can you get there: Outlines the strategies and action plans to achieve these goals, including marketing campaigns, client acquisition strategies and business development initiatives.
• Measuring your performance: Defines the key performance indicators (KPIs) and metrics to assess progress towards the set goals, such as sales figures, client satisfaction rates and market share.
• Course correction: Establishes a process for regular review and adjustment of the plan, ensuring flexibility to adapt to market changes, shifts in client needs and other external factors.

For real estate agents, a comprehensive business plan is not just a roadmap to success; it is a dynamic tool that keeps them accountable and adaptable to market changes.

Realtor business plan example

A realtor business plan is a comprehensive document that outlines the strategic direction and goals of a real estate business. It’s an essential tool for realtors looking to either launch or expand their business in the competitive real estate market. The plan typically includes details about the company’s mission, objectives, target market and strategies for achieving its goals.

Benefits of a realtor business plan and applications:

• For launching or expanding businesses: The plan helps real estate agents to structure their approach to entering new markets or growing in existing ones, providing a clear path to follow.
• Securing loans and investments: A well-drafted business plan is crucial for securing financing for real estate projects, such as purchasing new properties or renovating existing ones.
• Guideline for goal achievement: The plan serves as a guideline to stay on track with sales and profitability goals, allowing realtors to make informed decisions and adjust strategies as needed.
• Valuable for real estate investors: Investors can use the template to evaluate potential real estate businesses and properties for purchase, ensuring they align with their investment goals.
• Improving business performance: By filling out a realtor business plan template , realtors can gain insights into the strengths and weaknesses of their business, using this information to enhance profitability and operational efficiency.

A realtor business plan is more than just a document; it’s a roadmap for success in the real estate industry. 

Writing a real estate business plan is a comprehensive process that involves several key steps. Here’s a detailed guide to help you craft an effective business plan :

• Tell your story : Start with a self-evaluation. Define who you are as a real estate agent, why you are in this business and what you do. Develop your mission statement, vision statement and an executive summary​​.
• Analyze your target real estate market : Focus on local market trends rather than national or state-wide levels. Examine general trends, market opportunities, saturations, and local competition. This step requires thorough research into the real estate market you plan to operate in​​.
• Identify your target client : After understanding your market, identify the niche you aim to serve and the type of clients you want to target. Create a client persona that reflects their specific needs and concerns​​.
• Conduct a SWOT analysis : Analyze your business’s Strengths, Weaknesses, Opportunities and Threats. This should reflect a combination of personal attributes and external market conditions​​​​.
• Establish your SMART goals : Set specific, measurable, attainable, realistic and timely goals. These goals could be financial, expansion-related or based on other business metrics​​​​.
• Create your financial plan : Account for all operating expenses, including marketing and lead generation costs. Calculate the number of transactions needed to meet your financial goals. Remember to separate personal and business finances​​.
• Revisit your business plan to monitor & evaluate : Treat your business plan as a living document. Plan periodic reviews (quarterly, semi-annually or annually) to check if your strategies are advancing you toward your goals​​​​.
• Defining your mission & vision : Include a clear mission and vision statement. Describe your business type, location, founding principles and what sets you apart from competitors​​.
• Creating a marketing plan : Develop a marketing plan that addresses the product, price, place and promotion of your services. Determine your pricing strategy, promotional methods and marketing channels​​.
• Forming a team : Ensure the cooperation of colleagues, supervisors and supervisees involved in your plan. Clarify their roles and how their participation will be evaluated​​.

Related: 15+ Business Plan Examples to Win Your Next Round of Funding

Wrapping up

The journey to a successful real estate venture is intricately linked to the quality and depth of your business plan. From understanding the nuances of the real estate market to setting strategic goals, a well-crafted business plan acts as the backbone of any thriving real estate business. Whether you’re developing a general real estate business plan, focusing on investment, working as an agent, or operating as a realtor, each plan type serves its unique purpose and addresses specific aspects of the real estate world.

The examples and insights provided in this article serve as a guide to help you navigate the complexities of the real estate industry. Remember, a real estate business plan is not a static document but a dynamic blueprint that evolves with your business and the ever-changing market trends.

Crafting a strategic real estate business plan is a crucial step towards achieving your business goals. So, start shaping your vision today with Venngage.

Explore venngage business plan maker & our business plan templates and begin your journey to a successful real estate business now!

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Real Estate Agent Business Plan Template

Written by Dave Lavinsky

Business Plan Outline

• Real Estate Agent Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan

Real Estate Agent Business Plan & Example

You’ve come to the right place to create your real estate agent business plan.

We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their real estate agencies.

Real Estate Business Plan Example

Below are links to each section of your real estate agent business plan template:

• Executive Summary – The Executive Summary is the most important part of your business plan. It is a brief overview of your real estate agency, its products and services, niche market opportunity, and competitive advantage.
• Company Overview – In the Company Overview, you will provide a detailed description of your real estate agency, its products and services, company structure, management team, and Founders.
• Industry Analysis – The Industry Analysis is a critical part of your real estate business plan. Here, you will provide an in-depth analysis of the industry in which your real estate agency operates. You will cover topics such as industry trends, major players in the industry, market size and growth, and profitability.
• Customer Analysis – In the Customer Analysis, you will identify your target market and provide insights into their needs and buying habits. You will also segment your target market and discuss your marketing strategy for reaching them.
• Competitive Analysis – In the Competitive Analysis, you will identify your competition and provide insights into their strengths and weaknesses. You will also discuss your competitive advantage and how you plan to stay ahead of the competition.
• Marketing Plan – In the Marketing Plan, you will discuss your marketing strategy and tactics. You will also provide a sales forecast and budget for your marketing activities.
• Operations Plan – In the Operations Plan, you will discuss your business’s day-to-day operations. You will also provide business milestones that you plan to achieve and a budget for your operational expenses.
• Management Team – In the Management Team section, you will provide an overview of your management team and their experience in the real estate industry.
• Financial Plan – In the Financial Plan, you will provide a three-year financial projection for your real estate agency. This will include your income statement, balance sheet, and cash flow statement.

Next Section: Executive Summary >

Real Estate Business Plan FAQs

What is a real estate business plan.

A real estate business plan is a plan to start and/or grow your real estate business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can  easily complete your real estate business plan using our Real Estate Business Plan Template here .

What Are the Main Types of Real Estate Businesses?

The most commonly known type of real estate business is residential real estate sales. This involves the sale and purchase of homes. The other type of real estate business is commercial real estate, where businesses focus on commercial properties.  Other types are real estate investors, lease companies and property management.

What Are the Main Sources of Revenues and Expenses for a Real Estate Business?

The main source of revenue for a real estate business are commissions earned from client real estate sales and rentals fees. Other revenue generated in this business are profit income, interest income and dividend income.

The key expenses for property management companies are salaries and wages, advertising, travel and supply costs for each transaction.

How Do You Get Funding for Your Real Estate Business Plan?

Real estate businesses are typically funded through small business loans, personal savings and credit card financing.

What are the Steps To Start a Real Estate Business?

Starting a real estate business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Real Estate Business Plan - The first step in starting a business is to create a detailed real estate business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your real estate business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your real estate business is in compliance with local laws.

3. Register Your Real Estate Business - Once you have chosen a legal structure, the next step is to register your real estate business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your real estate business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Real Estate Equipment & Supplies - In order to start your real estate business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your real estate business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful real estate business:

• How to Start a Real Estate Business

Where Can I Get a Real Estate Business Plan PDF?

You can download our free real estate business plan template PDF here . This is a sample real estate business plan template you can use in PDF format.

Ultimate Guide: 11 Points to Writing a Real Estate Business Plan

Failing to plan is planning to fail. Your business plan is the GPS for success. Instead of wandering, push towards your goals and objectives with clear direction. Developing a real estate business plan is critical to forming a healthy and sustainable business. 

A real estate business plan is an important step for any real estate agent looking to build a successful career in the industry. While there is no one-size-fits-all approach, there are certain key elements that should be included in any plan. First and foremost, it is essential to set clear goals and objectives.

A study of 2,877 business owners found that companies are twice as likely to secure loans and funding if they have a business plan and 75% more likely to grow. Another study showed that 64% of companies who created a plan increased their businesses, compared to 43% of companies that hadn't yet finished a plan. 

Your own business plan is an essential tool for any business, small or large. Real estate agents use business plans to map their marketing strategies, target their advertising, and track their progress. A business plan helps agents set goals and stay on track throughout the year. It is also a valuable reference point when meeting with clients and potential investors. 

While there are many different ways to create a real estate business plan, certain elements should be included in every scenario. These elements include an overview of the business, the company's goals and objectives, a marketing strategy, and a financial analysis. By having these key components, companies can ensure that their real estate business plan is comprehensive and will help them achieve their desired results.

Harvard Business Review (HBR) stated that the chances of success rose by 12% for those that spent no longer than three months on their plan . With any longer proving futile. So, how do you write a business plan for your real estate business without getting bogged down in the details? In this post, we'll look at actionable steps agents and brokers can take to outline, execute and measure the performance of a business plan.

As a real estate agent, you know that the housing market can be unpredictable. You need to be prepared for the ups and downs of the market, and one way to do that is to have a business plan. Your business plan will help you set goals and track your progress. It will also force you to think about the costs of running your business and how you will generate leads. There are many online resources that can help you write a business plan, but the most important thing is to get started. By taking the time to write a plan, you will ensure that your business is ready for whatever the housing market throws your way.

What is a real estate business plan?

A business plan is a written document that captures the future of your business. It details what you plan and how you plan to do it.

Real estate business plans are essential for two reasons. First, they provide a road map for agents to follow as they work to build their businesses. Second, they force agents to think through all the crucial aspects of their business, such as their marketing efforts, target market, and financial goals. 

By taking the time to write a Real Estate Business Plan, agents can ensure that they are taking all the necessary steps to build a successful business.

A Real Estate Business Plan is an essential tool for any business, whether you are just starting or have been in business for years. There are many benefits to creating a Real Estate Business Plan, including: 

• Having a Real Estate Business Plan forces you to take a step back and assess your business as a whole. It allows you to see where your business stands, and identify any areas that need improvement.
• A Real Estate Business Plan provides a roadmap for your business. It can help you to set goals and track your progress over time.
• A Real Estate Business Plan can help secure your business funding. If you seek investment from Venture Capitalists or Banks, they will often require a copy of your business plan before considering your request.
• A Real Estate Business Plan can help you to attract and retain top talent. If you are looking to hire employees or contractors, having a well-crafted business plan can be a significant selling point.
• A Real Estate Business Plan can be a valuable tool for managing day-to-day operations. A clear and concise plan can help you better decide where to allocate resources and how to utilize your team's time and talents best.
• A Real Estate Business Plan can help you to measure and track your marketing efforts. By setting specific goals and objectives, you can more effectively gauge the success of your marketing campaigns and make necessary adjustments along the way.
• A Real Estate Business Plan can serve as a valuable sales tool. A professional business plan can give you a significant competitive advantage if you are looking to sell properties or convert leads into clients.
• A Real Estate Business Plan helps to keep you organized and on track. Trying to run a successful real estate business without a plan is like trying to drive from New York to Los Angeles without a map - chances are, you'll get lost along the way!

Having a Real Estate Business Plan gives you credibility in the eyes of others. If you are working with other professionals such as lenders, appraisers, or title companies, having a well-developed business plan shows that you are serious about your business and increases the likelihood that they will want to work with you in the future.

Last but not least, creating a Real Estate Business Plan is empowering! Taking the time to develop a comprehensive plan shows that you believe in yourself and your business and sets the foundation for long-term success.        

Precisely, it conveys your business goals, the strategies and tactics you'll use to achieve them, potential problems you may run into along the way and how to overcome them, roles and responsibilities, SWOT analysis, and measurement strategies.

What should a real estate business plan include?

Real estate business plans are different from traditional business plans. 

Real estate agents need to focus on their target market, their uniqueness, and how they will succeed against the competition. Real estate business plans should also include an analysis of the current market conditions and the potential for growth in the future. In addition, real estate agents should outline their marketing strategy and have a budget for advertising and promotions. By taking the time to create a comprehensive business plan, real estate agents can increase their chances of success in this competitive industry.

Real estate business plans vary in length and complexity, but all should include the following elements: 

• An overview of the real estate market 
• A description of the agent's target market 
• A marketing plan 
• A financial plan 
• A discussion of the agent's competitive advantages 

Real estate business plans provide a roadmap for agents to achieve their goals. They should include specific strategies for generating leads, marketing properties, and closing deals. The business plan should also outline the agent's budget and target income. Additionally, the real estate business plan should set forth a schedule for prospecting, listing appointments, and open houses. By following a real estate business plan, agents can increase their chances of success in real estate.

How do you assemble a real estate business plan?

A business plan is essential for any real estate business, whether you're just starting out or have been in the industry for years. It provides a roadmap for your business, laying out your goals and strategies for achieving them. But how do you go about assembling a business plan?

First, you'll need to identify your target market. Who are you trying to reach with your real estate business? Once you know your target market, you can start developing your marketing strategy. What methods will you use to get potential clients? How will you differentiate yourself from other real estate businesses in your area?

Next, you'll need to put together a financial plan. What are your revenue sources? How much money do you expect to bring in each month? What are your expenses? How much do you need to save for a rainy day? A clear financial picture will help you make sound decisions for your business.

Lastly, don't forget to include a personal development plan. What skills do you need to improve to succeed in the real estate business? What classes or training programs can you take to close more deals and earn more commissions? A well-rounded business plan will help ensure your real estate business is booming.

Writing a Real Estate Business Plan in 11 Easy Steps

1. write a detailed business description.

There's a story and context behind your business, and the business description is where that should shine. Write a brief overview of your Real Estate business. Include your business goals and how you plan on achieving them. Then create a description of your company, including its history, structure, and other relevant information.

The mission statement is part of the business description — which helps keep the rest on the track. Many mission statements follow a familiar format, like:

"To be the best, full-service Real Estate company in the Triangle and to enhance our quality of life through active community involvement.".

In a microstudy of 200 mission statements, it was found that mission statements most often talk about the company's dedication to customers (85%), shareholders (37%), employees (21%), and society (3%).

As well as a defined mission statement, make sure to include:

• When you were founded
• Where you are located
• Who the leaders are
• Special advantages/partnerships
• Market opportunities
• Legal structure

A very brief real estate business description example is:

"Norris & Company Real Estate is Vero Beach's premier upscale real estate firm. They specialize in luxury waterfront homes and condominiums, particularly in Vero Beach and Indian River County, FL."

2. Market Analysis

Research the Real Estate market in your area and identify any trends or opportunities. Include this information in your business plan.

Real estate agents must constantly be aware of the market conditions in their area to serve their clients best. Agents can provide expert guidance and advice by understanding the trends and opportunities.

When writing your Real Estate business plan, including a comprehensive analysis of the market conditions in your area. It will help you better understand your client's needs and identify potential opportunities.

Your market analysis should include:

• An overview of the Real Estate market in your area
• Identification of any trends or opportunities
• An explanation of how you will address these trends or options in your business plan

By including this information in your Real Estate business plan, you will be able to show potential clients that you are knowledgeable and prepared to help them navigate the Real Estate market.

3. Perform a SWOT Analysis

A SWOT analysis is a technique used to identify and define several key characteristics that will impact your business: Strengths, Weaknesses, Opportunities, and Threats.

Think of it this way:

Strengths and Weaknesses are internal. Threats and Opportunities are external.

An analysis can be as simple as making lists of items under each category.

For example, a strength could be a solid and experienced sales team, while a weakness might be that your business is expensive to run because you haven't nurtured supplier relations.

It could be as simple as filling four sheets of paper with descriptions of the strengths, weaknesses, opportunities, and threats — collaboratively or alone. To make the answers clearer and the exercise more manageable, you can use questions like:

• What do our competitors do better than us? Threat .
• What's our unique selling point? Strength .
• Why have customers churned in the past? Weakness .
• Which markets are underserved in your territory? Opportunities .

4. List Your #1 SMART Goal

It's great to be ambitious, but focusing on one goal makes it easier to stay motivated, track progress, and see the measurable effect of achieving it. Even better if that goal is a SMART Specific, Measurable, Attainable, Realistic, and Timed – goal.

Examples of SMART goals you might set for your growing real estate business are:

• Build a new real estate website in the next three months
• Hire and onboard three new SDRs in the next six months
• Increase monthly leads by 50% by next year
• Sell ten houses in the Dallas metro area in the next 30 days.

Pick one at a time and focus on it! Sticking to an achievable goal with a time limit makes it more likely to come to fruition. And, even just writing it down makes you 42% more likely to attain it.

5. Identify Your Market Niche

Before setting out your facts and figures, it's essential to spotlight your target market and how you'll serve this niche. It helps you decide what's realistic and feasible to achieve in your business plan.

Determining your market niche is a fancier way of saying: Who are your services best suited to? While honing in on a narrow target seems a little exclusionary, niche marketing can save you time, effort, and money on marketing.

One tool to help you define your market is a buyer persona. A persona is a fictional typification of your ideal customer, with information that enables you to steer your sales and marketing in the right direction.

It's essential to assess your niche and ensure it is consistent with the market in your area.

For example, if you've decided to focus on first-time buyers, do some research to look at relevant stats and figures:

• What percentage of sales in your market were to first-time buyers in the last 12–14 months?
• What was the average sales price to first-time buyers?

Also, assess how competitive this market is:

• Are you the only agent catering to the young first-timer?
• Are you competing with well-known heavy hitters?

A competitive SEO audit can be a helpful starting point in finding your competitors in the online space, where almost all leads will turn at some point in the buying process.

6. Implementation Plan

Before you can begin implementing your real estate business plan, you must clearly understand your goals and objectives. What are you trying to achieve with your business? Are you looking to buy and hold properties for long-term appreciation, or are you more interested in flipping houses for a quick profit? 

Once you have a good idea of your goals, you can start to put together a plan for how to achieve them. For example, if you're interested in buying and holding properties, you'll need to generate enough income from rentals to cover the mortgage and other expenses. If you're more interested in flipping properties, you'll need to find motivated sellers and then negotiate deals that provide you with a healthy profit margin. 

Regardless of your goals, careful planning is essential for success in the real estate business.

Breaking your goals into action steps makes them more tangible and ensures you're making strides to fulfill them. Here are some keys to converting your real estate business plan into actual business practices.

7. Monitoring & Evaluation

Successful real estate businesses have a plan to monitor and evaluate their progress. This plan includes setting clear goals, measuring progress against those goals, and making adjustments as needed. Without this proactive approach, it can be challenging to identify areas of improvement or stagnation. 

Additionally, a well-executed monitoring and evaluation plan can help to keep employees focused and on track. By regularly assessing performance and goal progress, businesses can ensure that they are making the most of their resources and achieving their desired results. Ultimately, a sound monitoring and evaluation plan are crucial for any real estate business that wants to stay ahead of the competition.

8. Risk Management

Real estate investing comes with a certain amount of risk. But with a well-thought-out risk management strategy, you can minimize the potential for loss and maximize your chances for success.

One of the most critical aspects of risk management is diversification. Investing in various property types in different markets spreads your risk and increases your chances of finding a profitable investment.

Another critical element of risk management has a solid business plan. Thoughtfully consider each step of the real estate investing process, from finding deals to financing them to managing the properties. Have a clear exit strategy for each investment to know when to sell or refinance. And always remember to stay within your comfort level; don't let greed or fear make decisions for you.

With careful planning and discipline, you can create a real estate investment portfolio that withstands market fluctuations and generates long-term wealth.

9. Financial Plan

Having a sound financial plan for your business is essential. To assist you, we've created spreadsheets you can use to estimate goals, income, and expenses. You will find specific instructions in the spreadsheets, but here are some guidelines for creating a financial plan:

To create your plan, determine what your expenses will be.

Here are three main areas your expenses may fall into:

• Licensing: These expenses will include training, state exam fees, etc.
• Personal: This can consist of your wardrobe, technology fees (like computer and phone), and car fees.
• Business: Business expenses include broker fees, website and MLS fees, marketing, advertising, etc.

Our template divides these expenses into the startup and yearly costs to help you discern which payments will recur and which are one-time-only. Here's an example of what your startup expenses might look like.

Yearly expenses might include recurring costs like office rent, electricity bills, and annual license fees.

Estimating income is the biggest concern for most new agents. To do this, you must decide how much money you need to make in your first year and how much you would like that figure to grow. You will also need to research some basic statistics for your market, like the average sale price for homes.

Use our business plan template to help calculate these numbers.

Transactions and Leads 

To meet your income goals and cover expenses, you'll need to conduct a certain number of transactions. And, to complete a certain number of transactions, you'll need to work a set number of leads. There's no need to work this figure out by hand. ‍

Our template will automatically calculate the number of transactions and leads you will probably need to meet your goals. Still, you will have to assess these figures to decide whether they are reasonable. For example, if you plan to work part-time as an agent in your first year but need to close 20 transactions to meet your goals, you are unlikely to have enough time.

10. Create a Personal Development Plan

A personal development plan is an essential tool for any real estate business. By taking the time to assess your strengths and weaknesses, set goals, and create a roadmap for success, you can ensure that your business is on track to reach its full potential. While it may seem daunting, creating a personal development plan is simple. 

Start by taking stock of your current situation. What are your strengths and weaknesses? What are your goals for the future? Once you clearly understand where you are starting, you can begin to map out a plan of action. Set realistic goals and create a timeline for achieving them. Put together a resources list and ensure you have everything you need to reach your goals. Finally, implement your plan and monitor your progress along the way.

Remember, your development plan should be flexible and adapt as your needs change over time. With some planning and effort, you can create a roadmap for success that will help you achieve your long-term goals in the real estate business.

11. Write an Executive Summary that Captures the Vision

Your executive summary is an anchor point you can use to understand the overall goals, cement the parameters of your target market, and make decisions aligned with your plan. It's also a way to get inspired by your original vision.

For real estate, it would include points on:

• Target neighborhoods and price ranges
• Target clients and a brief description of the persona
• Brief marketing plan overview
• Market threats and opportunities

Think of the executive summary as the section of your business plan you would explain to a friend a football game when asked how you plan to make money as an agent or broker in your local town/ city or state.

Note: due to the specific details in the executive summary, this part of the business is typically one of the last completed items.

Real Estate Business Plan Template

If you're considering starting a real estate business, you'll need to create a business plan template. Here's a basic template that you can use to get started. Remember that your business plan should be tailored to your specific business and industry.

• Executive Summary

The executive summary is a brief overview of your business plan. It should include your company's mission statement and an overview of your products or services, target market, and growth strategy.

• Company Description

This section will provide an overview of your company, including its history, structure, and team. Be sure to include information on your company culture and values.

• Mission statement

In this section, you will summarize the reason for being and the guiding principles of your organization. For example: "We are a nonprofit that provides free legal aid to those in need." You can also provide a brief overview of what we want them (the users) to come into contact with. 

Why should they care about our mission or message by telling them why it is vital to their lives now and later down the line?

• Company goals

This section will provide a high-level overview of your company's top business goals for its first years in operation.

• Market Analysis

In this section, you will need to analyze your target market thoroughly. It should include information on your customers, your competition, and the overall industry.

• Product or Service

In this section, you will need to describe your product or service. Be sure to include information on your pricing strategy and any unique features or benefits your product or service offers.

• Marketing and Sales Strategy

In this section, you will need to outline your marketing and sales strategy. It should include information on how you plan to generate leads and convert them into customers.

• Operational Plan

This section will need to provide an overview of your business operations. It should include your production process and distribution and fulfillment strategy.

This section will briefly describe what your company offers to customers.

• Target customer

To effectively reach the people we want as customers, you must provide a clear overview of who they are and how your product or service can benefit them. In this section, I'll go over some questions worth asking yourself when determining who your potential clients may be. 

• Best Practices

Write out your ideal practices for how you'll deal with qualified leads versus unqualified leads, how quickly you'll follow up with interested parties, your methods for helping a leader throughout the final steps of the sales process, and how you'll stay in touch with customers after papers have been signed.

• Financial Plan

In this section, you will need to provide detailed financial information for your business. It should include your income, balance, and cash flow statements. The following will include startup expenses, assets, liabilities, capital, break-even analysis, and loan repayment.

• Exit Strategy

This section will need to provide an overview of your exit strategy. It should include information on how you plan to sell or exit your business in the future.

Individual Agent Real Estate Business Plan

Real estate agents need a business plan like any other entrepreneur. A real estate business plan outlines your goals, strategies, and how you plan on achieving them. It is essential to have a business plan because it will help you stay focused and on track. Real estate is a competitive industry, so you need to be able to stand out from the rest.

A business plan will also be helpful if you ever need to seek funding for your business. Investors and lenders will want to see that you have a well-thought-out plan before they give you money. 

Creating a Real Estate Business Plan is essential if you want to build a successful career in real estate. With our easy-to-use template, you can get started today and be on your way to achieving your long-term goals.

There are many benefits to creating a Real Estate Business Plan, including:

• Clarifying your goals and strategies
• Mapping out a clear road map for your business
• Identifying potential obstacles and solutions
• Helping you stay organized and on track
• Increasing your chances of success

So, if you are considering starting a real estate business, sit down and write a business plan. It will be worth it in the long run!

Real Estate Team Business Plan

Before you start your real estate team, it's essential to have a business plan in place. It will help you define your goals, map your strategies, and track your progress over time. While there is no one-size-fits-all approach to creating a business plan, certain key elements should be included. Here are a few of the most important things to keep in mind:

• Your team's mission statement: What sets your team apart from the competition? Why do you exist?
• Your target market: Who are you trying to reach with your services? What needs do they have that you can address?
• Your marketing strategy: How will you get your target market and communicate the benefits of working with your team?
• Your financial goals: How much revenue do you hope to generate? What are your expenses? How will you fund your business?

By thoughtfully developing your real estate team business plan, you'll increase your chances of success in an increasingly competitive industry.

Real Estate Brokerage Business Plan

A real estate brokerage business plan is a document that outlines the goals, strategies, and financial projections of a real estate brokerage business . It should include an executive summary, market analysis, business model, operational plan, and financial plan. The executive summary should briefly describe the company, its target market, and its competitive advantages. The market analysis should assess the size and growth potential of the target market. 

The business model should describe how the real estate brokerage plans to generate revenue. The operational plan should outline the business's day-to-day operations, including staffing and marketing initiatives. Finally, the financial plan should provide detailed information on the anticipated costs and revenues of the company. A well-crafted real estate brokerage business plan can be valuable for attracting investors and achieving long-term success.

Remember that your business plan is a living document that should be updated as your company grows and evolves. Regularly reviewing and revising your business plan ensures that your real estate brokerage is always moving in the right direction.

Ready. Set. Plan

Whether you've got a ready-to-execute business plan or it's still being drafted, the most important thing is to start now — and fast.

At its core, a real estate business plan should outline the steps necessary to achieve specific goals, such as increasing sales or expanding into new markets. It should also identify potential obstacles preventing the business from achieving its objectives. By taking the time to create a comprehensive business plan, real estate businesses can increase their chances of weathering storms and coming out on top in the long run.

A business plan puts you on a clear track that makes your business 75% more likely to grow.

By following the above points, you'll be well on writing a comprehensive Real Estate Business Plan.

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• Sample Business Plans
• Real Estate & Rentals

Real Estate Business Plan

People would always need to find places. Be it for offices, homes, and whatnot.

Finding the ideal place irrespective of your needs and requirements is never a cakewalk, to begin with.

You can go through a number of real estates business plan templates before you write your plan.

Industry Overview

The market size, measured by revenue, of the Real Estate Sales and brokerage industry, is $156.2bn in 2021, and the industry is expected to increase by 0.4% in 2021.

Also, the market is changing at a rapid rate and the way people use spaces is changing at a rapid rate too.

Hence, to get on or stay on the higher end of the spectrum you’ll need to upskill and change the way you do business constantly.

But that is a fair trade for the amount of growth and profitability this industry has to offer.

Say goodbye to boring templates

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Plans starting from $7/month

Things to Consider Before Writing a Real Estate Business Plan

Be specific.

The real estate industry is broad when it comes to work and what you can do. It can either be a source of primary or passive income. At the same time, you might be involved in the industry as an investor, agent, or builder. Decide what you want to do and plan on that basis.

Do your research

The trends of the real estate business change constantly, hence doing your research and updating it constantly is a crucial part of your profession.

As your knowledge and expertise is your greatest asset in this industry, keep expanding it to stay at the top of things.

Build a team of skilled professionals

Having a team you can build your real estate business with is essential.

Select a group of individuals with a diverse set of talents ranging from good communication skills to brilliant analytical skills. Given the dynamics of the real estate business, you never know what skills might come in handy in your business journey.

Be ready for change

As we have constantly discussed, real estate is a dynamic industry. Change is the only constant you’ll have in this business.

Thus, it is important for everything from your plan and way of doing business to be change-friendly.

Sources of Funding for a Real Estate Business

Gaining funds is one of the major reasons for writing a business plan. And here are a few good funding options for your real estate business:

A traditional loan is one of the most basic options for getting funded. You can opt for this if you have a good credit score.

Non-bank mortgage lending

This is a good option if you don’t want to go through a lot of paperwork.

The asset-based mortgage

For this, the lenders look at the rental value of your property and provide a loan on that basis. It is a good option if you don’t want or can’t get a loan based on your personal assets or income.

Above all, it is essential to plan your business to figure out your funding requirements and the right way to fulfill the same.

Write Your Business Plan

If you have enough connections, and the ability to find places for people that have attributes they want and need then a real estate business can be a profitable one for you.

A business plan helps you get funded, explain your ideas to the stakeholders of your business, and make better decisions.

Hence, planning is an important aspect of starting or growing your business.

It has been created using Upmetrics online business plan software that helps you create dynamic and customizable plans anywhere and at any time.

Our sample real estate business plan can help you with writing a well-rounded business plan for your business. It can act as a guide and prevent you from getting stuck in a certain section for too long.

Real Estate Business Plan Outline

This is the standard real estate business plan outline which will cover all important sections that you should include in your business plan.

• Market Opportunity
• Demand for Housing
• Financing & Investment Forecast
• Introducing Kegan
• Business Model
• Short Term Goals
• Long Term Strategies
• Keys to Success
• Contemporary Living for the 21″ Century
• The Complete Package
• Pricing Strategy
• Implementation Strategy – Action Plan
• Target Market Overview
• Housing Shortage Overview in Saudi Arabia
• Housing Shortage Overview in Riyadh
• Housing Prices
• Kegan Home Prices
• Market Positioning & Brand
• Marketing Strategies
• Sales Strategies
• Sales Process
• Competitive Landscape
• Competitive Advantages
• Rashid Bin Said
• Director of Construction
• Member name
• Chief Accountant
• Director of Marketing & Sales
• Other Staff
• Independent Directors
• Solid Balance Sheet
• Impressive Cashflow
• Financial Summary
• Financial Assumptions
• Income Statement (Five-Year Projections)
• Balance Sheet (Five-Year Projections)
• Cash Flow Statement (Five-Year Projection)

After getting started with Upmetrics , you can copy this sample real estate business plan into your business plan and modify the required information and download your real estate business plan pdf or doc file.

It’s the fastest and easiest way to start writing your business plan.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

Download a sample real estate business plan

Need help writing your business plan from scratch? Here you go;  download our free real estate business plan pdf  to start.

It’s a modern business plan template specifically designed for your real estate business. Use the example business plan as a guide for writing your own.

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Create a Real Estate Business Plan: Template, Tips & More

A real estate agent business plan is a document that outlines your comprehensive strategy to grow your real estate business. It outlines important milestones of your approach, identifying what your goals are and how you will achieve them.

Because of the nature of the real estate business, you can construct plans as a broker, agent, etc. There are several ways to focus your goals and tactics when you are writing a real estate business plan, and each specific role you have will change what you’re trying to achieve and how you will do it.

It’s fundamentally important to remember that in real estate, there are two things to keep on the top of your mind:

• You are your own boss and manage your own business.
• Being busy doesn’t always mean that you’re making money.

Combining these two important thoughts leads us to one conclusion — that having a written-out plan will help determine what you’re trying to accomplish and will help keep you committed to a specific plan of action. A business plan for real estate agents is sure to help you identify measurable goals while helping you stay on a predetermined route to reach your ambitions.

Additionally, a plan will identify prospective issues you expect to run into and how you plan to overcome them. The plan will assign roles and responsibilities, and allow you to measure your success as your business progresses.

It’s important to know that you’re not in this alone – we have an experienced team of coaches who can help you  create a real estate business plan that makes it simple and easy.

Why Create a Real Estate Business Plan?

Studies  have shown that creating a business plan for real estate can increase your chance of success by 12%. Additionally, it can raise your chances of success by 27% when you commit to writing a real estate business plan and combine it with other things like talking to prospective customers, making marketing materials, and getting yourself ready for business.

What’s more, you will be taken more seriously by potential business partners, brokers, and banks because you have dedicated time to sit down and devise a written plan that precisely outlines the actions you plan to take. This shows that you have placed significant personal investment in your business, and gives others peace of mind that they can join you in this venture.

A real estate business plan gives you a clear direction and an operational checklist for identifying your goals. Some questions it will answer are:

• Who is my prospective client?
• How much do I want to earn?
• What do my sales need to look like to reach my ideal take-home pay?
• How will I cover the expenses of my business?

A plan is not set in stone and allows for adjustments as situations arise – but should be thoroughly devised enough to help you overcome foreseeable challenges like identifying leads and finding funding money to get started.

How to Start

Executive summary.

The executive summary of a real estate business plan establishes your hopes and dreams, a broad overview of how you plan to accomplish them, and highlights from the research used to support your decisions.

It should identify who your potential clients are, the areas you plan to focus on, and any potential sales opportunities (for example, the average house in this area is $450k). If there are any competitive assessments, those are also important to note here.

In many ways, consider this your elevator pitch. Given 30 seconds, or the amount of time you were in an elevator with someone, how would you describe your ability to  be profitable in real estate ?

Write a Detailed Business Description

If you’ve ever seen the show, “Shark Tank,” you’d be familiar with how the business owner stands in front of the investors and shares their story about why they should invest in their product. This is the detailed business description of your plan, where you tell what inspired you to get involved in real estate.

The description will highlight the opportunity and how you plan to make the most of it, while answering ‘who, what, when, where, how, and why’. Who is your prospective client? What makes you different and what is your client looking for? When are they typically looking to buy or sell their property? How do they typically start their search or process of selling their home?  Questions like these  will help shape your detailed business description to answer questions that you might not think about at first.

Perform a SWOT Analysis

If you’re unfamiliar with the term “SWOT”, it stands for (S)trengths, (W)eaknesses, (O)pportunities, (T)hreats. When applying a SWOT analysis to writing a real estate business plan, the coined term helps you identify some of the core questions that arise when planning.

Strengths address what makes you different and a better choice than your competition. Will you be more knowledgeable? Have you lived in the area you’re targeting your whole life? Are you a well-known member of the area who already has created a personal brand that will go far in real estate?

Weaknesses address the exact opposite. What things are you lacking? What things do others do better? Naturally, if you’re breaking into real estate, one of the first things you’d note is experience. Having multiple weaknesses isn’t a  bad  thing. It means you’ve identified potential issues and how to overcome them. For example, a new agent with experienced coaches can quickly overcome the example weakness.

Creating a Strategic Real Estate Business Plan

Defining your marketing strategy.

As much as you would like to be the perfect fit for all clients, the reality is that you are going to have a specific type of client that’s going to work the best with you. Maybe it’s someone from a specific area of town, first-time homebuyers, those using specific types of financing options, or those in the Armed Forces.

Identifying your market niche isn’t going to limit you to a specific clientele, but it’s going to direct your marketing and branding so that you’re not throwing lots of things and hoping that something sticks. This means saving time and money by directing your marketing efforts to the most meaningful ways, giving you the biggest bang for your buck.

Understanding the marketing strategy aspect of your real estate business plan will help you know who your target is, what their defining characteristics are, what services they are seeking, and help you understand how to grow those specific relationships.

Understanding  how you will generate leads  is incredibly important in developing your plan. If you don’t have leads, you won’t have sales — which means you won’t make money. Because of the nature of the business, you’ll need to understand how prospective clients start the process (which is usually through looking at things online).

Creating a Financial Plan

An important aspect of writing your business plan will always include money. Here you will identify your expenses, income, and estimate your sales goals. It’s important to create realistic and well-thought-out measurements in this section, to understand how your plan will come together.

When looking at your expenses, consider all things that will change for you on a licensing, personal, and business level. Licensing may seem self-explanatory, but ongoing education, covering multiple states, and other things might pop up. Personal expenses are also easily overlooked — will you need to buy different clothes, will a new smartphone be important to your work, and will your cost of gas rise? Business expenses are things like your broker fees, advertising costs, and other things often charged directly from your office.

A true financial plan is not a rough collection of estimates or guesstimates. It’s a close look at the reality of the costs you will be facing when you choose to start on the endeavor, and a true understanding of what it will take to achieve your goals. One of the basic goals you will look at financially is the ability of real estate to keep you economically profitable in consideration of your time and resources.

Analyze Your Local Competition

In-depth research into your local competition will help you beyond your SWOT analysis. When you’re looking at other offices that might be competing with you, consider what sets you apart and makes you different. Also,  use this competitive insight to grow your brand  and sharpen the services that you offer to clients.

For example, if your focus is on first-time homebuyers, are there any competitors that also have this focus? What do they do that seems to work? What can you offer that they don’t? There are generally four areas that will set you apart in regards to your competition; the product (your brand and focus), the price (your commission and price you seek for your clients), the place (your ideal market you’ve chosen to focus on), and promotion (meaning the way you’ll choose to market to generate leads).

Understand Your Ideal Customer

Understanding your customer is critical in writing a real estate business plan. Without that important link, you won’t meet your goals, your marketing dollars will be wasted, and your time will be spent without result.

The important things to know about your customer are:

• How do you reach them? Will they respond better to emails, texts, or calls?
• What matters to your clients? Is it more space, interior luxury, or location?
• What brand does your client subscribe to? Will they value Walmart or Whole Foods more?
• What matters most to your prospective buyer? Is it space, price, or something else?
• What is your ideal demographic? This is age, sex, etc.

Having a firm grasp on these important things will help you develop your plan so that you can speak to what your market research is telling you. Perhaps your opportunity is in selling new homes in an up-and-coming area, or to military families who have been given new orders near a base. Referrals and leads will always attract outside of your ideal mindset, but this will help you focus your efforts.

Implementing Action Plans

An action plan is a carefully considered set of steps to take in  achieving a specific goal . For example, if your goal is to get ten new leads a month, an action plan will help you get there. An action plan establishes a clear goal and the different things that need to be done to reach your objective.

You might have different action plans for marketing, closing sales, ongoing education and personal development, social media goals, etc. All of these individual action plans will help carry your real estate business plan to fruition.

Evaluating and Revising Your Plan

Your business plan is sure to be a living document as time goes on. With a constantly evolving real estate market, it is critical to stay up to date with the latest news – not only for the industry, but also for the markets you specialize in. As you continue to meet and shake hands with individuals, new doors will open, offering you opportunities that you probably didn’t consider when you originally developed your plan.

For example, maybe you’ve met a developer who’s asked you to help list their properties. What you learn from your clients will be equally important to your plan – if things don’t matter, save time and resources by removing them. Additionally, if there are things missing (like virtual open houses, alternative social media focuses, etc), find a way to incorporate them into your plan.

There’s something to be said for pulling from the experience of others, and  having an experienced real estate coach look over and help develop your real estate business plan is a great way to jump past the typical pitfalls new agents face.  A new agent starting out , dreams of the financial freedom to spend more time with their family and friends. Skipping over the learning curve by having an experienced professional will only help you achieve your goals faster.

BUSINESS STRATEGIES

How to create a real estate business plan

• Nirit Braun
• 10 min read

A real estate business plan is a strategic document that outlines the objectives, strategies and tactics a person or a team will employ when starting a business in the real estate industry. This comprehensive and clear plan not only defines the business' mission, vision and goals but also delineates the steps necessary to achieve them.

When starting a business, especially in a dynamic and competitive sector like real estate, a well-crafted business plan becomes an indispensable tool for success. Beyond helping business in their first steps to understanding how to start a service business , a business plan provides a structured framework that helps entrepreneurs make informed decisions, allocate resources effectively and stay focused on their objectives. By articulating the business' value proposition, rental business ideas , target market, competitive landscape and revenue streams, the plan offers a holistic understanding of the venture's potential and challenges.

Looking to kick off your real estate business? Create a business website today with Wix. These real estate agent websites can help you get started.

In this section, we'll break down the key components involved in crafting a successful real estate business plan in six steps.

Executive summary

Company and domain name

Market analysis and research

Operations plan

Marketing and advertising plan

Financial plan

01. Executive summary

An executive summary is a concise overview of your entire real estate business plan. It serves as a snapshot that captures the essence of your venture, highlighting its key components and objectives. A well-crafted executive summary should provide a clear understanding of your real estate business' purpose, market opportunity, strategies and potential for success. It's typically the first section of the business plan and should be written after the rest of the plan has been completed.

To write a clear executive summary for a real estate business, follow these steps:

Start with a brief introduction: Describe your business’ mission, vision and the services you intend to offer. Highlight what sets your business apart in the competitive real estate landscape.

Summarize the market demand: Explain what kind of opportunity you aim to address with this type of business . Mention key trends in the real estate industry that support the viability of your venture.

Identify your target audience: Whether it's first-time homebuyers, property investors or commercial clients, briefly describe their demographics and needs.

State the unique value you offer to clients: This could be exceptional customer service, a specialized focus or innovative technology solutions.

Outline your key real estate marketing strategies : Highlight how you plan to reach and engage your target market.

Provide a high-level overview of your projected financials: Include revenue projections, startup costs and funding requirements.

Introduce the key members of your team: Highlight how their skills contribute to the success of the real estate business.

Example of an executive summary for a real estate business: “ABC Realty is a dynamic real estate agency that specializes in helping first-time homebuyers navigate the complex property market. With a strong commitment to providing personalized guidance and support, we aim to simplify the buying process and empower our clients to make informed decisions. Our target market consists of young professionals and families looking for their dream homes in urban areas. Leveraging the latest technology and data analytics, we offer a seamless search experience that matches buyers with their ideal properties. Our marketing strategy involves a mix of social media engagement, local partnerships and educational workshops to establish our brand as a trusted resource in the real estate industry. Backed by a team of experienced agents and industry professionals, we are well-positioned to make homeownership dreams a reality while achieving sustainable growth and profitability. Our projected financials indicate a steady upward trajectory, with a goal of reaching profitability within the first two years.”

02. Company and domain name

Knowing how to name a business is crucial for a real estate venture and a key step before you register your business . It shapes your brand identity, influences client perceptions and establishes trust.

Additionally, selecting a suitable domain name for your real estate website is crucial for online visibility and accessibility. Your online presence should be in top form taking into account that 97% of homebuyers search for their homes online. Here's how to approach these decisions:

Company name

Should reflect your business' values and services

Keep it concise, memorable and easy to spell

Check for trademark conflicts to avoid legal issues

Consider using the free business name generator from Wix for inspiration

Be inspired by these real estate business name lists.

Domain name

Align it closely with your company name if possible

Choose a domain extension (.com, .net, .org) that's commonly recognized

Keep it short and free of complex words or hyphens

Ensure it's easy to pronounce and type

Learn more: How to make a website

03. Market analysis and research

Incorporating comprehensive market analysis and research into your business plan is essential for understanding the competitive landscape and formulating an effective business strategy. Conduct market research to identify trends, competitors and potential gaps in the market. Analyze your target audience's preferences, behaviors and pain points to tailor your services and marketing efforts accordingly.

Understanding the market dynamics allows you to position your real estate business strategically and offer unique value propositions that resonate with clients.

04. Operations plan

An operations plan outlines the logistical aspects of your real estate business, ensuring its smooth day-to-day functioning. This section should cover:

The physical location of your business office or headquarters

The size and layout of your office space

The equipment and technology required to run your real estate business

The roles, responsibilities and qualifications of your team members

05. Marketing and advertising plan

In the competitive real estate industry, a robust marketing and advertising plan is vital for attracting clients and establishing your brand presence. Your plan should encompass various marketing strategies , including:

Social media marketing, search engine optimization (SEO) and online advertising

Creating valuable content like blog posts, videos and guides

Establishing partnerships with local businesses and industry associations

Hosting events and workshops that educate clients about real estate trends

You’ll also need to develop a suite of brand assets to use in your marketing efforts, starting with a company logo and real estate slogan . You can use a free logo maker or real estate logo maker to get a professional design in minutes. Learn how to make a real estate logo that suits your brand.

06. Financial plan

The average cost to start a real estate brokerage can range from $10,000 to $200,000 , so odds are you will need to secure financing. The financial plan outlines your real estate business' financial projections, funding requirements and path to profitability. It should include all your startup costs including starting an LLC , licensing, office setup, marketing materials and technology needs.

Next, estimate income based on property sales, commissions and other revenue sources. Alongside this outline ongoing operational costs, such as rent, salaries, marketing and utilities. Then take the time to specify how your business will be funded initially, whether through personal savings, loans or investor contributions. Finally, predict when your real estate business is expected to reach profitability based on your revenue and expense projections. You can include within this the exact ways to make money as a real estate agent .

Real estate business plan examples

Here are two templates for hypothetical real estate businesses, each including the main parts discussed in our how-to steps.

Real estate business plan template 1: ABC Realty

ABC Realty is a forward-thinking real estate brokerage focused on serving residential clients in urban areas. With a mission to simplify the home buying process for first-time buyers, we aim to provide personalized guidance and a seamless search experience. Our market research indicates a rising demand for affordable housing solutions and our team's expertise positions us well to address this need. Leveraging digital platforms and local partnerships, we're dedicated to establishing a brand known for trust, transparency and professionalism. Our financial projections show steady growth, with profitability projected within 18 months.

Company name: UrbanNest Realty

Domain name: www.urbannestrealty.com

Market analysis: Our research reveals a growing trend of Millennials seeking starter homes in urban areas.

Competitive landscape: Competitor analysis highlights the need for tailored customer service and simplified processes. We will tap into this by offering comprehensive support and leveraging technology to streamline transactions.

Location: A prime urban location with easy accessibility.

Premises: A modern office space designed for client consultations and agent collaboration.

Equipment: State-of-the-art computers, customer relationship management (CRM) software and virtual tour technology.

Staffing: Agents, property management experts and administrative staff.

Digital marketing: Social media campaigns, targeted online ads and search engine optimization.

Content marketing: Regular blog posts on home-buying tips, neighborhood insights and market trends.

Networking: Partnerships with local lenders, moving companies and interior designers to provide added value.

Events and workshops: Monthly homebuyer seminars and virtual property tours.

Startup costs: $60,000 (licenses, office setup, marketing materials)

Revenue projections (first year): $300,000

Revenue projections (section year): $500,000

Expenses: Monthly rent, salaries, marketing expenses and administrative costs

Funding: Personal savings and a small business loan

Profitability timeline: Projected within 18 months

Real estate business plan template 2: Empire Investments

Empire Investments is a dynamic real estate investment firm specializing in commercial properties. With an aim to provide high-value investment opportunities, we focus on acquiring and enhancing properties with substantial growth potential. Our strategy involves leveraging market trends, identifying undervalued assets and optimizing their value through strategic renovations and management. Our team of seasoned professionals ensures a comprehensive approach to portfolio management, driving investor returns. Our financial outlook is promising, with steady revenue growth projected over the next five years.

Company name: Empire Investments

Domain name: www.empireinvestmentsre.com

Market analysis: Our research highlights an increasing demand for mixed-use properties in urban areas.

Competitive landscape: Competitor analysis reveals a gap in the market for value-add properties. We'll focus on acquiring underperforming assets with the potential for repositioning and strong cash flow.

Location: Central business district for easy access to commercial properties.

Premises: A professional office space for meetings and deal analysis.

Equipment: Advanced financial analysis tools and property management software.

Staffing: Investment analysts, property managers, legal experts and administrative support.

Networking: Building relationships with commercial brokers, property managers and industry experts.

Content marketing: Thought leadership articles, market reports and investment guides.

Webinars and seminars: Monthly webinars on commercial real estate investment strategies.

Direct marketing: Targeted outreach to potential investors based on investment preferences.

Startup costs: $150,000 (licenses, office setup, due diligence expenses)

Revenue projections (first year): $1,000,000

Revenue projections (second year): $2,000,000

Expenses: Office overhead, salaries, marketing campaigns and property management costs

Funding: Combination of private equity, investor capital and personal investments

Profitability timeline: Positive cash flow projected within the first year, substantial returns expected over five years

Top benefits of writing a real estate business plan

Starting a business in real estate requires careful planning and a well-structured business plan offers a multitude of benefits that contribute to the venture's success. A business plan helps you in the following ways:

Attracting investors and funding: A well-developed business plan serves as a persuasive tool to attract potential investors and secure funding. It outlines the business's unique value proposition, market opportunities and growth strategies. By clearly articulating the revenue model and projected financials, entrepreneurs demonstrate their preparedness and potential returns, increasing the likelihood of obtaining an investment and raising money for a business .

Resource assessment: Writing a business plan helps entrepreneurs understand the resources, supplies and staff required to launch and operate the real estate business. This comprehensive assessment ensures that nothing is overlooked, from property acquisition and renovation costs to marketing expenses and administrative needs. By listing these requirements, entrepreneurs can plan for adequate funding and efficient resource allocation.

Strategic direction: A business plan outlines the business's short-term and long-term goals, providing a strategic direction for the real estate business. Entrepreneurs can define their target market, geographic focus and property types, enabling them to make informed decisions aligned with their objectives. This clarity prevents aimless pursuits and helps maintain focus on strategies that align with the business' vision.

Risk mitigation: A well-structured business plan anticipates potential challenges and outlines strategies to mitigate risks. Entrepreneurs can identify industry-specific challenges, such as market fluctuations or regulatory hurdles and devise contingency plans. By acknowledging these risks upfront, entrepreneurs can proactively address them and adapt their strategies as needed.

Operational efficiency: The business plan details the organizational structure, roles and responsibilities required to run the real estate business smoothly. Defining these elements helps entrepreneurs allocate tasks effectively and ensure that the right people are in place to execute the business strategies. This clarity enhances operational efficiency and minimizes the potential for confusion or overlaps.

Measurable progress: A business plan sets clear milestones and metrics to measure the real estate business' progress. Entrepreneurs can track key performance indicators (KPIs) against the projected goals, enabling them to assess their success and identify areas for improvement.

Real estate business plan FAQ

What is a business plan in real estate.

A real estate business plan is a document that outlines your goals and strategies for starting or growing a real estate business. It should include a market analysis, a business model, an operational plan and a financial plan.

Which real estate business is most profitable?

Can you become a millionaire from owning real estate, is it a good idea to start a real estate business, how do i organize my real estate business, want to create another type of business plan.

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10 Things Your Real Estate Business Plan Needs (FREE Template)

A real estate agent business plan is essential for success in today’s competitive market. It helps you set clear goals, define your vision, and outline the steps to achieve short-term and long-term objectives. As a real estate professional, having a well-crafted business plan can be the difference between being a top producer and struggling to make ends meet.

In your business plan, you’ll want to start by creating a vision statement that outlines the purpose of your real estate business and reflects your values. Setting firm goals will help you stay accountable and focused, allowing you to adapt to market changes or growth and remember that your business plan should be fluid and up-to-date to stay aligned with your ultimate objectives.

Your real estate agent business plan should be thorough, covering various aspects such as market analysis, organization structure, and marketing strategies. By having a comprehensive plan, you’ll be better equipped to navigate the challenges and seize the opportunities that come your way, ensuring your real estate business flourishes.

Understanding Your Target Market

Identifying your ideal client.

Understanding your target market is crucial to establish a successful real estate business plan. Begin by identifying your ideal client. Consider factors that may define your target clients, such as age, income level, family status, and property preferences. Reflect on your strengths as an agent and which clients you connect best with. This will help you focus your marketing efforts and create tailored strategies for your target audience.

Market Segmentation

Market segmentation divides your target market into smaller, more specific groups based on shared characteristics. In real estate, you can segment your market into categories such as:

• First-time homebuyers
• Empty nesters

By segmenting your market, you can tailor your services and communication strategies according to the unique needs of each group. This will lead to more effective marketing efforts and a better understanding of your potential clientele.

Analyzing Local Market Trends and Opportunities

Gather data on your local real estate market to identify trends and opportunities for your business. Analyze factors like:

• Market growth
• Market saturation
• Local property values
• Employment rates
• Infrastructure development
• Population demographics

By analyzing local market trends, you can identify areas with potential growth or areas that are becoming overly saturated. Use this information to adapt your services and expertise to market conditions, helping you stand out among competitors and position yourself as an expert in your niche.

Remember, a comprehensive understanding of your target market is essential for shaping your real estate agent business plan. By identifying your ideal clients, segmenting the market, and analyzing local market trends and opportunities, you’ll be better equipped to create tailored marketing strategies and make informed business decisions. This will ultimately contribute to the success and growth of your real estate business.

Lead Generation Strategies

Building an online presence.

To create a robust lead generation plan, build a strong online presence. A real estate agent must have a well-designed and user-friendly website to capture leads. Keep these factors in mind:

• Make sure your website reflects your branding and expertise
• Optimize your site for search engines to enhance its visibility in search results
• Include clear calls-to-action (CTAs), so potential clients can easily contact you
• Utilize high-quality images and videos to showcase properties
• Share helpful and informative content through a blog or resources section

You can also leverage social media channels to expand your reach and showcase your expertise in the industry. Focus on the platforms most relevant to your target audience and share valuable content related to real estate, local events, or home improvement tips.

Networking and Referrals

Building a strong professional network is essential for generating quality leads. Here are some strategies to boost your referral pipeline:

• Attend networking events, conferences, or workshops in your area. Engage with professionals in real estate or related industries
• Establish relationships with local businesses and community organizations
• Hold open houses or host educational seminars to engage potential clients in person
• Develop relationships with past clients and ensure you stay top of mind so they recommend you to their connections

Additionally, create a referral program that rewards clients and other referrers for sharing your services with their network. This will incentivize them to talk about you and help expand your reach.

Traditional Marketing Methods

Despite the increasing importance of digital marketing, traditional methods still have their place in generating leads for real estate agents:

• Send direct mail campaigns, like newsletters or postcards, to targeted neighborhoods, highlighting your strengths and successes
• Advertise in local print media, such as newspapers or specialized real estate publications
• List your services and properties in industry-specific directories, both online and offline
• Design and distribute eye-catching flyers, brochures, and business cards
• Participate in community events or sponsor local charities to enhance your company’s reputation and visibility

Make sure to keep track of the effectiveness of each lead generation method and evaluate their strengths and weaknesses. This will help refine and improve your overall marketing strategy and ensure you invest resources into the most productive channels.

Lead Conversion Techniques

Building rapport and trust.

To build rapport and trust, focus on the following:

• Be genuine and authentic with your prospects, showcasing your expertise and knowledge.
• Listen actively, taking the time to understand their concerns and needs.
• Display empathy towards their situation, offering tailored solutions for their specific problems.
• Stay engaged through the entire process, from the first interaction to closing.

Qualifying Leads

When it comes to qualifying leads:

• Ask open-ended questions to gauge their needs, timeline, and motivation for buying or selling
• Inquire about their financial situation and any potential barriers they may have
• Learn more about their preferred neighborhoods, housing type, and other preferences
• Prioritize leads based on their level of interest and readiness to move forward

Effective Communication and Follow-Up Strategies

For better communication and follow-up:

• Establish a consistent schedule for checking in on leads, such as every few days or weekly
• Personalize your communication, tailoring messages to each lead’s unique situation and preferences
• Practice active listening and respond thoughtfully to their questions or concerns
• Utilize several communication channels, including email, phone calls, text messages, and social media

Utilizing CRM Systems for Lead Management

Leveraging CRM systems can help you organize and optimize your lead management process:

• Track important lead information and interaction history in a centralized location
• Set reminders for follow-up tasks, appointments, or important milestones
• Analyze your leads’ behavior to understand their needs better and provide personalized service
• Create targeted marketing campaigns to engage your leads and nurture them toward conversion

By implementing these techniques and focusing on leads, marketing strategies, and communication, you’ll be well on your way to creating a thriving real estate agent business.

Closing Deals and Earning Commissions

Negotiation tactics.

When closing deals, it’s crucial to employ effective negotiation tactics to help both you and your client reach a favorable outcome. Some negotiation tactics include:

• Understanding the market: Know the local market trends and use this information when discussing price adjustments or concessions.
• Compromise: Find common ground and offer reasonable solutions to meet both parties’ needs.
• Leverage: Use your expertise in the real estate industry to highlight your client’s strengths and make convincing arguments.

Handling Objections and Overcoming Challenges

As a real estate agent, you’ll encounter objections and challenges in closing deals. To address them efficiently, consider the following points:

• Listen to the client’s concerns and empathize with their situation.
• Identify the objection: Determine the root cause of the objection and respond with a compelling solution.
• Maintain professionalism: Stay calm and composed, avoiding confrontational behavior.

Preparing and Presenting Offers

Presenting a well-prepared offer is vital to increasing the chances of closing a deal. Keep in mind:

• Research: Analyze comparable properties in the area to establish a competitive price for the offer.
• Documentation: Ensure that all necessary documents, such as pre-approval letters and proof of funds, are in order.
• Presentation: Employ clear and concise communication when presenting the offer, highlighting its benefits to the seller.

Managing the Transaction Process and Paperwork

Effectively managing the transaction process and paperwork helps keep the deal on track, which includes:

• Organization: Maintain an organized system for tracking important deadlines and required documents.
• Communication: Regularly update all parties involved in the transaction, ensuring they know the progress and address any concerns.
• Attention to detail: Ensure all forms, contracts, and other documents are accurate and complete.

By successfully closing deals, you’ll earn commissions based on your agreed split with your broker. For instance, if you close a deal worth $350,000 with a 6% commission rate, the gross commission income will be $21,000. If your commission split with your broker is 70/30, you’ll earn $14,700 while your broker receives $6,300. Utilizing the strategies discussed in this section will help you maximize your commission income and prove beneficial to your real estate business plan.

Client Retention and Building Repeat Business

Maintaining client relationships after closing.

Building lasting relationships with your clients is essential for repeat business and referrals. After closing a deal, continue to provide value by offering support with any post-closing issues, such as paperwork or maintenance concerns. Keep in touch with your clients and remember important milestones, such as anniversaries or birthdays. Show appreciation for their trust in you by sending thoughtful gifts or cards or simply checking in periodically.

Asking for Referrals and Testimonials

Word-of-mouth marketing is an incredibly powerful tool in the real estate industry. Encourage your satisfied clients to share their positive experiences with friends and family. To achieve this, be proactive in asking for testimonials and reviews, which you can later showcase on your website, social media, and other marketing materials. Here are some strategies to obtain them:

• Reach out via email or phone, and kindly request a testimonial or referral
• Provide a simple template to make it easy for clients to write a review
• Offer incentives, such as discounts on future services or gift cards, to show gratitude for their time and effort

Staying Top-of-Mind Through Regular Communication and Updates

Establish regular communication with your past clients to stay top-of-mind and generate repeat business. Keep them informed about the latest market trends, neighborhood developments, or listings that interest them. Here are some communication tactics you can employ:

• Send personalized monthly or quarterly e-newsletters
• Share relevant content, such as articles or videos, on your social media platforms
• Organize events, like client appreciation parties or educational seminars, to maintain connections and foster new ones

Maintaining client relationships, requesting referrals, and staying top-of-mind through regular updates will strengthen your real estate business with repeat clients and new prospects. Remember, satisfied customers are the key to long-term success in the real estate industry.

Measuring Success and Adjusting Your Strategies

Setting goals and key performance indicators (kpis).

To measure the success of your real estate agent business plan, start by setting SMART goals (Specific, Measurable, Achievable, Relevant, and Time-bound). These can serve as benchmarks for success and provide direction on areas to focus your efforts. Consider setting goals for various aspects of your business, such as sales volume, new client acquisition, and customer satisfaction.

In addition to your goals, establish key performance indicators (KPIs) to track your progress. KPIs are quantifiable metrics that help you evaluate the effectiveness of your strategies. Examples of KPIs for a real estate agent business plan include:

• Number of new leads generated per month
• The conversion rate of leads to clients
• Average days on market for properties
• Percentage of listings sold

Tracking and Analyzing Results

With your goals and KPIs established, continually collect and analyze data to track your progress. Regularly monitoring your results allows you to identify trends, spot potential problems, and evaluate the effectiveness of your marketing efforts. Some methods to track your data include:

• Using a CRM system to manage client relationships and interactions
• Employing analytics tools to evaluate the success of digital marketing campaigns
• Conducting a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) to identify areas where you excel or need improvement

Pay close attention to competitor performance and market trends to better understand how your strategies compare and identify any gaps you may need to address.

Adapting and Optimizing Your Strategies Based on Data

Once you’ve gathered and analyzed your data, use insights to adapt and optimize your strategies. Make data-driven decisions to improve your marketing efforts, streamline processes, and better allocate resources. Some steps you can take include:

• Adjusting your marketing budget and tactics based on your marketing ROI
• Revisiting your goals and KPIs to ensure they still align with your overall business objectives
• Fine-tuning your pricing strategies or the type of properties you focus on to meet market demand better

Maintaining a proactive approach to adjusting your strategies will keep your business plan agile and responsive to the changing real estate market. This will go a long way in helping you achieve the success you envision for your real estate agent business.

Time Management and Organization

Prioritizing tasks and setting a daily schedule.

In your real estate agent business plan, it’s crucial to have a time management and organization strategy. Start by prioritizing tasks that align with your [business goals]. Break down tasks into daily, weekly, and monthly goals. Then, create a daily schedule following the block scheduling method:

• List your key tasks for the day.
• Assign specific time blocks for each task.
• Stick to the schedule and avoid multitasking.

You’ll notice increased productivity and improved time management with this approach.

Using Productivity Tools and Apps

Take advantage of productivity tools and apps to help you stay organized and manage your time efficiently. Some popular tools for real estate agents include:

• Calendars: Apps like Google Calendar or Outlook can help schedule appointments and manage deadlines.
• Task Managers: Utilize tools like Trello, Asana, or Todoist to manage your projects and collaborate with your team.
• Time Tracking: Apps such as Toggl or Harvest provide insights into your work habits, helping you identify areas for improvement.

Remember to limit the number of tools you use to avoid digital clutter and duplicate information.

Delegating and Outsourcing Tasks When Necessary

As a real estate agent, delegating and outsourcing non-core tasks is essential to focus on your primary responsibilities. Here are some tasks you can consider delegating:

Identify areas where your expertise may not be as strong or where your time can be better spent, and consider outsourcing those tasks to professionals. This approach will help you manage your workload and improve the quality of your services.

Ongoing Education and Professional Development

Staying up-to-date with industry trends and changes.

To stay competitive in the real estate market, you must keep up with industry trends and changes. By monitoring resources like the National Association of Realtors (NAR), California Association of Realtors (CAR), and multiple listing services (MLS), you can stay informed about the latest developments in your field. Set aside time to read industry publications, attend webinars, listen to podcasts, and follow industry-leading professionals on social media.

Pursuing Relevant Certifications and Designations

Continuing education is crucial for staying current in the fast-paced real estate industry. Pursue relevant certifications and designations to add credibility and value to your practice. Organizations like NAR and CAR offer various designations demonstrating your expertise and commitment to professionalism to clients and colleagues.

Examples of real estate certifications and designations include:

• Accredited Buyer’s Representative (ABR)
• Certified Residential Specialist (CRS)
• Green Designation (Green)
• Seniors Real Estate Specialist (SRES)

To obtain these certifications, you must complete specific coursework, pass exams, and maintain membership in the relevant organizations.

Participating in Networking and Learning Events

Engaging in networking and learning events within the real estate community can help you build relationships, share ideas, and learn from the experiences of others. Attend conferences, workshops, and local meetups relevant to your niche, region, or areas of interest. Not only will this enhance your industry knowledge and skills, but it can also be an opportunity to form valuable connections that will benefit your business growth.

In summary, staying up-to-date with industry trends, pursuing certifications and designations, and participating in networking events can help you maintain and develop your skills as a real estate professional. Committing to continuous learning and professional development is essential to ensure your long-term success in the real estate business.

A well-structured business plan is essential for success as a new real estate agent. With a solid plan, you can set your goals, identify your target market, and analyze your competition. A comprehensive business plan lets you plan your marketing strategies, map your operating expenses, and create revenue projections.

To get started, consider using a business plan template tailored to real estate agents’ needs. This will give you a framework to follow as you develop your plan.

Developing a business plan is just the first step in the process. You need to take action and implement your strategies to realize your goals and achieve success. Revise your plan regularly, adapting and updating it as needed. This will ensure you stay on track with your goals and remain competitive in the ever-changing real estate market.

As a new real estate agent, taking bold steps toward your objectives may feel intimidating. However, trust your plan, apply your outlined strategies, and stay persistent. Your dedication will pay off in the long run.

Starting a career in real estate can be challenging, but you don’t have to face the journey alone. There are numerous resources and support networks available to help new real estate agents excel:

• Professional networks : Join local real estate associations and online forums to connect with experienced agents, ask questions, and expand your knowledge.
• Mentors : Seek accomplished real estate agents who can offer guidance, share valuable experiences, and provide personalized advice.
• Training and education : Keep your skills fresh by attending workshops, participating in webinars, and pursuing continuing education courses relevant to your field.

By leveraging these resources and committing to your business plan, you are setting yourself up for a successful career in real estate. Don’t forget to celebrate your achievements along the way and take pride in your progress. Now is the time to take action; you will surely achieve your goals with determination and hard work.

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The Business Plan Real Estate Professionals Need In 2024 

A guide to developing an actionable business plan that gets your new real estate company off the ground..

Not having a business plan is the quickest way for your new real estate company to fail. In fact, 25% of enterprises without a business plan fail within the first two years of operating.

However, a business plan entails much more than a mission statement, executive summary, and financial plan. A concrete plan encompasses all the aspects involved in running a successful real estate business.

Proper real estate business planning includes thinking beyond the first few clients you’ll acquire. Solid business plans incorporate considerations for building your real estate team, promoting your business, and competing in ever-changing markets.

In this article, we discuss three steps to develop a comprehensive business plan for your new real estate company so that you can achieve longevity and success.

Step One: Conduct Market Analysis

It’s likely that the market you’re entering into is crowded. Your business plan needs to outline how you will compete within your niche. To do this, you can conduct market analysis.

You need to answer the question: why would clients choose to buy or sell with me and not other companies?

It’s vital to look at what your competitors are doing on a regular basis. This allows you to find ideas that you can easily replicate and identify gaps in the market that you can fill.

➡️ Understand your target market

You’ll need in-depth knowledge of the real estate market to grow your brokerage. Keeping your finger on the pulse of this fast-moving industry requires regular research.

For example, you could check listings or read real estate newsletters several times a week. This will help you understand market trends and find new ways to generate leads for your own business.

When developing your business plan, you should research:

• The types of properties in your area.
• The average sales prices for these properties.
• The average time on the market.
• Typical commission rates for agents
• What potential buyers are looking for.
• The current property demand.

You should also research the market at a state or national level and not limit your real estate business to local opportunities. 

➡️ Analyze your competition

Analyzing the competition helps you see where the market is saturated and how you can carve out your own unique proposition. 

As a new brokerage, you will go up against industry giants operating nationally, established local players, and innovative companies offering a powerful proposition. There are lessons to be learned from these types of real estate companies that you can use in your business plan.

➡️ Get ideas from industry giants

Companies like RE/MAX and Coldwell Banker are household names, with thousands of agents and extensive resources. You might not be able to compete with them directly, but what you can do is cherry-pick ideas that are effective and easy to implement. 

You can also look at what they’re doing poorly, for example. See their shortcomings as opportunities to fill a gap in the market.

A good example is spotting customer pain points and addressing them in your business plan. Take note of what is being written on review sites about your competitors, and think about how you will address such issues within your own business.

Customer pain points are often easy to find on review sites like Yelp or the Facebook page of a real estate business. Type in the competitor’s name, and you’ll quickly find positive and negative reviews.

➡️ Find ways to compete with established local players

Your business plan must include how you will convince prospective clients that they should choose you instead of the other local players.

Find ways to differentiate your real estate business from the rest. There are two main approaches to doing this.

The first is to avoid competing directly. Look at your competitors’ listings and see which properties they are good at selling. You can then target a different kind of property or customer and begin building a niche for your business.

Alternatively, you can take competitors on in their own niche. This will be tough, and you’ll need to identify a tangible benefit you can offer to draw customers away, such as lower commission rates.

➡️ Get inspiration from innovative realtors

Some real estate brokerages make a name for themselves by disrupting their target market with innovative propositions. You need to do the same within your business plan.

Examples include undercutting the market with cheaper real estate agent rates, offering to buy houses below market value, and selling on the customer’s behalf.

For example, Rex’s unique proposition is based on savings for their clients. They offer a 2% commission and a 50% rebate of the buyer’s agent commission in certain circumstances.

This sets them apart from the standard 6% commission paid by the client to traditional agents.

When considering a unique angle, don’t just try to be different—also think about what your target market is looking for. A community already getting low real estate agent rates won’t be interested in a 1% reduction, so be smart about how you improve on your competitors’ offerings.

Step Two: Plan Your Real Estate Business Structure

The structure of your real estate business will define how it operates on a day-to-day basis. Your business plan is an opportunity to make crucial decisions about your structure.

Don’t forget to regularly review your initial business structure a few times per year—for example, when reporting quarterly figures. Regular reviews allow you to make changes to your structure without being stuck in one model for a full year.

The only exception is finding agents, which you should make time for every week, especially in the early days of your real estate brokerage. 

➡️ Choose between a franchise or an independent business model 

One of the first questions you must ask yourself is whether you want to be completely independent or buy into a franchise.

The real estate sector is home to many large and successful franchises. That’s because they can give brokers brand recognition and help them attract clients quickly.

Franchises also offer a range of advanced tools, including software for lead tracking, email marketing efforts, deal management, and commission calculating.

The downside is that you’ll give up a certain level of freedom and have to pay a license fee.

Well-known franchise RE/MAX provides extensive support options for its franchisees, including a toll-free line, a grand opening, online support, proprietary software, and a franchisee intranet platform.

However, these benefits don’t come cheap. According to Franchise Direct , RE/MAX’s total franchise fees can cost up to $239,500 . This is what the fees cover:

Some of these fees are optional and will not be relevant if you decide to operate remotely, for example. In this case, the license cost will decrease accordingly, and the initial investment could be as low as $43,000.

➡️ Choose between a remote or on-site office location

Your business plan must define how you and your team will work. You could decide to run a remote brokerage. This is more affordable to operate and allows you to sell properties almost anywhere.

To begin with, all you’ll need is a phone and laptop. In the long run, you’ll need the right software and technology to offer clients a great service.

For example, Matterport provides 3D technology that allows you to create virtual tours of properties. They simplify uploading videos to your site, and you can even include space measurements.  

On the other hand, a brick-and-mortar brokerage provides presence and visibility in busy areas. 

This means that people are more likely to think of you when it comes to selling their homes. You’ll also pick up passing trade and inquiries from people who want to deal with a real estate agent face-to-face.  

However, it also means covering overheads such as electricity and rent, which can significantly increase your operating costs.

We recommend that new brokerages start remotely and only open a brick-and-mortar office if they can afford it. 

➡️ Find great real estate agents

A real estate business cannot function without good agents. A top-tier real estate agent will generate leads that help grow your business and get your name out there.

When your real estate business starts out, it might not be possible to afford more experienced agents because they come with higher demands and commission expectations.

Therefore, finding a promising real estate agent still trying to make a name for themselves is a smart way to gain talent at a lower cost.

➡️ Network with local real estate agents

You’ll need to get out there and start networking to meet potential agents and understand what they are looking for. 

Attend local industry networking events, listen to agents’ concerns and frustrations, and figure out how you can provide them with a better offer.

Invite successful local agents for lunch and find out what would make them want to work for your real estate business. You can also ask them whether they know other agents looking to change brokerages.

➡️ Offer agents a better package

A good question to ask yourself is why these agents would switch to your brokerage and how you will retain this talent once you have it.

You need to offer an enticing commission structure that allows your real estate business to profit.

A great example of this is EXIT Realty . This real estate business is known for attracting top agents through a commission structure that rewards good performance. Agents who recruit other employees receive a bonus. Additionally, all their agents receive training to keep them updated with industry trends.

EXIT Realty is a large real estate business with extensive resources. However, you can apply the same underlying training and incentive principles to your recruitment strategy.

➡️ Consider your real estate agent commission structure

Your commission structure is the main factor in attracting agents, and it’s something you need to consider in your business plan.

While agent commission is typically between 5 and 6%, the way it is split between broker and real estate agent can be agreed upon in different ways. The three most common are:

• Traditional commission split: The total commission is divided between the agent and the broker. This offers the real estate agent a limited incentive.
• Commission threshold: The percentage the real estate agent pays the broker changes once they’ve passed an agreed-upon target. This is great motivation for agents and keeps real estate business profits growing.
• Flat-fee structure: The real estate agent keeps 100% of the commission but pays a regular flat fee to the brokerage. This is a better option for a brokerage with a high turnover.

➡️ Offer client incentives

Client incentives help your brokerage to stand out. You’ll need to ensure that your buyer and seller incentives fit your commission structure and niche. Your business plan needs to outline these before your first deal.

For example, offering a flat fee would not be an essential factor for sellers in the luxury property market and would limit your profits if you pay high commission rates.

 The most common incentives include:

• 1% fee: This is a lower fee than the average of 3%. You earn less per sale, which incentivizes sellers to choose your brokerage. 
• Flat-fee brokerage : Offering to work for a flat fee ensures the client knows exactly what they’re paying for, no matter the final sale price.
• Minimum-service flat fee: This model removes the agent, leaving the seller to find the buyer. For a flat fee, it offers minimal services, such as listing the property on a multiple listings service (MLS).
• Charitable donation: This involves donating a percentage of your commission to a charitable cause, an option that could impress clients without costing the brokerage much.
• Express sale: The brokerage gives the seller a fast cash offer to buy the property from them before the broker sells it.

Step Three: Planning for Your First Sale

When you start out, no one will have heard of your real estate business, so it’s essential to get your name out there and build a good reputation.

While developing your real estate business plan, you need to consider how you will market your business and build your brand.

Here are some ideas for your brokerage’s marketing plan:

➡️ Use your existing connections

The real estate industry is all about person-to-person interaction, so the easiest way to make your first sale is by networking and using your current connections.

To begin with, you should call your contacts in local real estate and ask whether there are any opportunities available. 

Regularly remind friends and family to keep their ears to the ground and recommend you to anyone looking to sell or buy property.

You can gradually reduce the frequency of using personal contacts as your brokerage grows and starts to draw business through marketing and word of mouth. 

➡️ Build an online presence

An easy-to-use website, social media presence, and video content will all help you make your first sale.

Different parts of your website will need to be revisited at different times. For example, you’ll want to update your blog at least monthly, while your “About us” section may only change every few years.

Many companies offer website packages with a listings template, and almost all brokerages use these platforms and focus on this feature.

Your website should highlight your expertise and explain how you can help them successfully buy or sell property.

The key elements to include in your website are:

• An overview of your brokerage: Explain your value proposition to buyers and sellers.
• An “About us” section: Introduce each real estate agent your clients will work with and highlight their experience, expertise, any big companies they have worked for, or awards they have won.
• Contact section: Ensure potential clients can speak to an agent instantly. Include an instant messenger option or chatbot to encourage them to get in touch immediately.
• A real estate blog: Ensure your brand appears in search engine results pages (SERPs) and provide clients with helpful information by regularly posting blog articles. 

➡️ Design for free

There are many easy-to-use website builders that allow you to design your website for free.

Most website builders will charge you for purchasing a domain name or accessing higher-level customization options.

We recommend designing your website in the free version and switching to the paid-for option once you start selling. This saves spending money on your website until it is published.

➡️ Get a good domain name

The domain name is the business card of your real estate business. A simple, easy-to-remember address that someone can type into their search bar is important.

A good domain name could include what your real estate business does, where it is based, who runs it, or all of the above.

➡️ Conduct search engine optimization (SEO)

Good search engine optimization (SEO) is vital for modern brokerages.

If your website isn’t appearing high enough on search engine results pages, it’s unlikely that people would discover your brand when they search for it. 

SEO is all about working to increase organic traffic to your site through online searches.

The ultimate aim is to get Google to list your website on the first page of results for specific relevant keywords—for example, “real estate agents in Spokane.”

Appearing on the first page of the SERPs is vital, as few people look further than that.

Good SEO is an ongoing process, and you’ll need to monitor your website’s ranking at least monthly to ensure that your content continues to perform well on the SERPs.

Spokane REALTORS® have done an excellent job at landing the number one spot in Google’s SERPs for the keyword “Spokane realtors”.

➡️ Do it yourself or find an expert

You can either optimize your website yourself or hire an agency to do it for you.

Doing it yourself is time-consuming and requires some specialist software—however, it is possible to succeed with DIY SEO. This beginner’s tutorial from Ahrefs provides a step-by-step guide on how to optimize your website.

Using an agency, on the other hand, will cost you more money but may achieve better results.

Local SEO is critical when starting out in real estate, as you’ll usually work with specific neighborhoods and communities. Here are a few ways to improve your local SEO:

➡️ Create quality local content

Populating your website with relevant content will help it rank in SERPs. Consider questions local buyers and sellers may ask and write content that speaks to them.

For example, suppose you want to target the search term: “what is the average property value in Spokane.” In this case, you may choose to write an article about the city’s property market and how sellers can maximize their asking price.

You could also write blog posts that link to local stories. For example, you could create hyperlocal content around property news or changes in the local real estate market.

It’s crucial to ensure that your blog posts are of high quality. The better they are, the greater your chances of ranking well. Quality is far more important than quantity, so your articles should be well researched, expertly written, and relevant. 

➡️ Get onto local business directories

Ensuring you’re on large sites like Yelp and smaller local directories helps people find you through another avenue. It may also boost your local SEO ranking.

Google uses these sites to verify the information listed in its index, so the more your real estate business shows up on other sites, the more value is placed on its listing.

➡️ Create a Google My Business Profile

Google My Business is a free online tool that helps you market your real estate business on Google’s search page. It is a crucial part of good local SEO and a cornerstone of any marketing plan.

Here’s an example of a Google My Business profile for Spokane REALTORS®:

It boosts your brokerage’s visibility by giving you a free profile that appears on popular products such as Google Maps and Google Search.

The first step is to sign up and create the card that appears on the right-hand side of Google when someone searches for your brokerage.

This holds critical information like your website, location, and contact details. This way, if someone is interested in your brokerage, they can contact you immediately.

If you add your address, Google My Business will highlight your real estate business on Google Maps. Clicking your location icon on the map brings up your card. This is helpful if someone searches for a real estate business near them. Watch this guide on how to set up a Google My Business profile for more information.

➡️ Create an email list

Email blasts and newsletters are highly effective marketing strategies that you shouldn’t leave out of your business plan. Unfortunately, most realtors don’t do email campaigns well.

Many customers repeatedly receive the same email content from several brokerages, each providing outdated listings and telling them that the market is “hot.”

A hot market might be great news for realtors who benefit from high demand; however, buyers struggling to find a home may be frustrated by this.

Email campaigns waste time and money if you’re not giving customers useful information.

Put yourself in the client’s position when creating email content—what will help them buy or sell their property?

Here are a couple of ideas to create useful marketing email content:

🏠 Buying and selling tips

Most people only buy or sell a property a handful of times in their lives. This means they might only have a basic understanding of how the market and processes work.

Providing buying and selling tips helps them understand the process and sets you up as a trusted partner who understands their challenges.

According to Campaign Monitor , research shows that the perfect newsletter text is a maximum of 200 words—which is far too short to include useful information.

Instead, publish your guides as blog posts on your website and link to them via an enticing email campaign.

You could publish these blog posts on a weekly basis and round them up in an email newsletter at the end of each month. 

🏠 Listing alerts

Many brokerages send out monthly roundups or listings that are usually outdated by the time that clients read them. You can provide a more valuable service by offering customers the chance to sign up for daily alerts. 

Scan your target market every morning. If a new property becomes available, let subscribers to your daily alert mailing list know immediately. This way, you become a reliable source of new opportunities for buyers who may be struggling.

📧 Setting up your email campaign

Setting up a newsletter or email campaign is simple. There are many software options, but the most trusted include MailChimp , Sendinblue , and Active Campaign .

All three offer a free plan and have varying levels of customization to meet your needs.

Each allows you to easily import your own images and content into a template. Alternatively, you can build your newsletter from scratch.

➡️ Cold calling

Cold calling isn’t fun but it’s an effective way to achieve your first sale. Data from the Keller Center into the effectiveness of real estate agent cold calls found significant positive outcomes for successful cold calls.

Additionally, cold calling isn’t just limited to finding clients. You’ll also need to regularly call top-producing real estate professionals in order to build relationships with them and entice them to come and work for you.

To begin with, you’ll have to make cold calls on a daily basis to sell your first property or get your first real estate agent on board. However, even after that, you’ll still need to make regular sales calls to ensure your real estate business continues growing. 

Here is our step-by-step guide to cold calling:

📞 Create a prospects list

To start off with, you’re going to need a list of prospects—people who may be interested in your services.

Building a list requires some research, and an excellent place to start is with expired listings. These will alert you to people who want to sell their homes but have failed with other agents.

Another source is “For Sale By Owners” listings on large property websites. These sellers may be apprehensive about working with a real estate agent, but the effort of selling a house could have turned into an inconvenience by the time you contact them, making you the perfect alternative.

📞 Develop a sales pipeline

Once you have your list, you need to start making phone calls. Your aim shouldn’t be to immediately get the person to buy or sell property with you—after all, you’ve just called out of nowhere, and they don’t know who you are.

Create a sales pipeline that lets you gradually develop trust with the prospect and get them to buy into your services. Instead of getting the person to buy or sell with you, you aim to move them along the sales pipeline.

Here’s an example of a simple real estate sales pipeline, which is a crucial element of your business plan:

• Awareness: Get on the client’s radar, introduce your real estate business, and understand their needs. Ask them to commit to a short, no-obligation meeting or phone call to discuss how you could help them. Remove any leads that are genuinely not interested from your list.
• Engage: Meet in person or hold a call. Ideally, view the seller’s property or ask buyers what they are looking for. Ensure you get all the information you need from the customer. Ask buyers to let you suggest suitable properties for sale. Provide sellers with a proposal explaining why they should sell with you.
• Make an offer: Provide buyers with various property options and ask them to choose two or three to view with you. Present your proposal to sellers and ask for their feedback. If the feedback is negative, adjust your offer. If it’s positive, ask the client to sell with you.
• Qualify: At this stage, the buyer or seller becomes your client. Your aim is to close a deal and have a happy, satisfied customer.
• Recommend: Ask your client to write a favorable review online and to recommend you to their friends and family. Ask whether you can get a quote from them to use in your marketing efforts and ask their permission to feature a photograph of them at their new home.

📞 Stay motivated

Cold calling is tough. You should change your script if you’re not succeeding after five calls. Try a new tactic, for example, one based on where clients lost interest during unsuccessful calls.

Researchers from the Keller Center found that motivation is critical for cold-calling agents. Focussing on keeping up the momentum and not becoming despondent improves outcomes when an unreceptive person answers the phone.

Boost Your New Business with Software for Real Estate Success

Developing a comprehensive business plan that considers all the factors above is a surefire way to achieve success in your new real estate venture. 

One crucial part of your business plan to consider is the tools and systems you’ll use to run your company effectively. An example of a tool that can take your new business to the next level is Paperless Pipeline .

Our software automates the entire real estate transaction process, which means you don’t have to spend valuable time trying to stay on top of your transactions. 

Instead, you can focus on growing your new business while letting Paperless Pipeline handle transactions, document management, compliance, and agent commissions.

If you’d like to try Paperless Pipeline out yourself for free, visit our website . We can’t wait to show you how successful your new real estate business can be with our software.

Related Articles:

How to Start a Real Estate Brokerage — The complete guide to starting your own successful real estate brokerage.

The Complete Real Estate Transaction Guide – Real estate transactions from start to finish. Learn about the people involved, what needs to happen, and how to make it simpler.

The Complete Guide to Recruiting Real Estate Agents – Learn how to successfully recruit and retain the very best real estate agents.

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How to Write a Real Estate Agent Business Plan

Are you thinking of becoming a real estate agent ? The real estate industry continues to thrive as there are always people looking for somewhere to live or do business. Therefore, starting a real estate business can be a lucrative way to make money. However, what many aspiring real estate agents don’t understand is that launching a career in real estate is similar to starting a new business. As a real estate agent , you are associated with a brokerage but you are an independent contractor and your own brand. In this business, you are ultimately responsible for your success.

As you know, planning is a crucial component of any successful business. Many new entrants in real estate fail in their first few years because they don’t start by creating a real estate agent business plan . And for you to achieve your goals, it’s imperative that you create a solid business plan for real estate agents. But what is a real estate agent business plan and why is it necessary?

Related: A Step-by-Step Guide on How to Become a Real Estate Agent

Why Is a Real Estate Agent Business Plan Important?

A real estate agent business plan is a document that details what a real estate agent wants to achieve and the steps they will take to accomplish it. It is a personal guide to keep you on track in the real estate business.

Writing a real estate agent business plan is one of the most powerful things you can do to start your career on the right path and ensure growth to the next level. A good plan, if implemented, will keep you ahead of the competition and make your business grow. Think of it as a blueprint for success. As the old adage goes: Failing to plan is planning to fail. Without a plan, you won’t have a clear direction.

If you want to establish a viable career in the real estate industry , you should learn how to create a real estate agent business plan. In light of how important a business plan is, it makes sense to take time to compose it. This blog aims to help you craft your own business plan the right way.

9 Steps to Creating a Strong Real Estate Agent Business Plan

1. write an executive summary.

The first component of a real estate agent business plan is an executive summary. This section sums up (in a couple of sentences) who you are, the services your business offers, who you serve, and where you currently operate from. In other words, it’s an introduction to your business plan that briefly outlines the key details of the plan. It will include your mission statement. This is the foundation that supports your whole real estate agent business plan .

While this section comes at the beginning of your plan, it’s advisable that you complete it at the end. It’s easier to draft this section after you have dissected the business piece by piece and mapped out your real estate agent business plan.

2. Mention the Company’s Corporate Structure

Most real estate agents are part of a real estate team . If you will be working with a team, make a list of all members of your team. This includes their personal information, skills, education, experience, and their different roles. These are the people who will help you implement your real estate agent business plan and ensure success.

3. Define Your Target Market

Before you move further with your real estate agent business plan, you need to define your target audience so that you can begin your branding process from their perspective. Once you have an idea of what services you want to provide, identify who your ideal real estate clients are. These are the people whom your services are best suited for.

The market niche you choose will depend not only on your passion but also on its viability. You can niche down based on the clients you serve (buyers or sellers), property types, neighborhoods, price points, life events, etc. Once you determine your ideal niche, you want to learn as much as possible about that group. For instance, where are they located? How old are they? What are they looking for in a house? What’s their annual household income? How can you reach them?

Understanding your market niche (the services they are seeking and the characteristics that define them) will help you decide how best to attract them with your branding and how to serve them. In fact, the more you know about your target clients, the more effective your marketing strategies will be.

Don’t try to appeal to all property sellers and buyers in your area. If you do this, it will be hard for you to stand out. By honing in on a narrow target, you can make yourself a go-to agent for that client group. With a smaller pool of potential clients, you will have less competition and improve your chances of securing a deal.

4. Analyze Your Local Competition

In this section of the real estate agent business plan , you need to identify your primary competition in your target market and study what they are doing. For instance, what marketing channels are they using? Learning about your local competition will help you identify the gaps in the market so that you can set yourself apart and outperform them. You can also learn a lot from your competitors. For instance, you can test the real estate lead generation channels they are using and replicate their success.

Related:  How to Compete with the Top Real Estate Agents in Your Market

5. Conduct a SWOT Analysis

Every real estate agent business plan should include a SWOT analysis. This analysis is used to identify and assess the key factors that impact your real estate business – your strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are internal factors while opportunities and threats are external factors . You should evaluate each of these categories based on what you have learned about yourself and your real estate business so far.

6. Set SMART Business Goals

In this section of your real estate agent business plan , you want to outline what you intend to achieve in your real estate career. Your goals ought to be SMART (Specific, Measurable, Attainable, and Timely). Consider both your long-term and short-term goals. Your short-term goals should feed your long-term goals.

7. Establish Your Sales and Marketing Strategy

Now that you’ve identified your goals, how are you going to achieve them? As a new agent, generating real estate leads is your main goal. Therefore, you need to create a real estate marketing plan that will help you achieve this.

Make a list of the real estate marketing strategies you intend to use to boost your real estate generation. This may include the following:

• A real estate agent website
• Social media ads
• Real estate referrals
• Networking by attending local real estate events
• Content marketing
• Building a real estate sales funnel

Also, make a list of the real estate agent tools you will employ to achieve your goals. This may include tools for social media management, CRM, and lead qualification. One must-have tool is Mashboard . This tool makes qualifying real estate leads easier by using predictive analytics and mathematical algorithms. You don’t have to qualify leads manually, a process that can be time-consuming. The tool will also help you match real estate leads with investment properties.

Read more about what Mashboard can do for real estate agents.

Related:  Online Lead Generation for Agents: 7 Ways to Beat the Competition

8. Create a Financial Plan

A sound financial plan is a critical part of your real estate agent plan. Assess your start-up and recurring financial requirements and create a budget. You also need to estimate your potential income considering the average figures for the local market. Based on these numbers, you can know your cash flow expectations. Remember, you also need a financial reserve to cover unexpected future costs.  

9. Follow Up

A real estate agent plan is not a static document that is written and placed in the files. It is a living document that needs to be reviewed regularly and altered as needed. You’ll need to update your plan as your business grows and the real estate market evolves. This way, you can get the most out of your plan.

The Bottom Line

Writing a real estate agent business plan may seem daunting but it’s key to developing a strong, sustainable business. You need to create a roadmap to success. If done correctly, it can help you get ahead of the competition and grow your real estate business. If you’re thinking of becoming a real estate agent in 2020 , be sure to include these key components in your real estate agent business plan. It will significantly increase your chances of succeeding in the business.

Don’t forget to check out Mashboard and learn how this innovative tool will help you boost your career.

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Home » Sample Business Plans » Real Estate

How to Write a Real Estate Agency Business Plan [Sample Template]

Are you about starting a real estate agency? If YES, here’s a complete sample real estate agency business plan template & feasibility study you can use for FREE . Okay, so we have considered all the requirements for starting a real estate brokerage firm. We also took it further by analyzing and drafting a sample real estate agency marketing plan template backed up by actionable guerrilla marketing ideas for real estate agencies. So let’s proceed to the business planning section.

The real estate industry in countries all over the world will continue to experience a boom as long as there is a market for it. The real estate market will remain to thrive so far as there are still people on the face of the earth. The need to help folks who are in need of housing is serious business and that is the singular reason why those who are in the trade know too well that millionaires are being made all around the globe on a daily basis – from the sale of lands, to buildings, to the lease of apartments, amongst others.

The real estate agent business is one path that will continue to grow, as a matter of fact, one may decide to start this business from the very comfort of the house. This is especially if you do not have the wherewithal to start out rightly big. Whether you look to start small or on a medium scale, the truth still remains that you have got to sit and make projections that would aid the growth of your business. Below, is a sample real estate agency business plan.

A Sample Real Estate Agency Business Plan Template

1. industry overview.

The real estate industry is one of the many industries that is a major contributor to the growth of the economy of many nations of the world. As a matter of fact, a real estate agent can become a millionaire ‘overnight’ from just one real estate deal; little wonder the industry is responsible for making many instant millionaires in the united states of America, as well as the rest of the world.

The Bureau of Labor Statistics projects 11.1 percent job growth for real estate sales agents between 2012 and 2022, which is about as fast as average. During that time, an additional 38,000 jobs will open up.

The real estate industry involves the buying, the selling, or the renting of lands, buildings or housing facility et al. Real estate agency or a real estate agent (broker) is a person who acts as a middleman between the sellers and buyers of real estate / real property. They are involved in searching for sellers who sell properties and buyers who wants to buy properties.

A real estate agency (brokerage firm) usually receives a payment called a commission for successfully matching a seller’s real estate want with a buyer’s real estate need; such that a sale or rent/lease can be made. In most cases, the commission generated is shared with other real estate brokers or agents who played their parts in ensuring that the property are sold or rented out as the case may be.

It is important to state that in the United States of America, each state has its own unique laws that clearly define the type of relationships that can exist between real estate agencies (professionals) and property owners (clients). Nonetheless, it is always a win – win case for both real estate agencies and owners of properties, because real estate brokers and their salespersons ( commonly called “real estate agents” or, in some states in the US, “brokers” ) usually assist sellers in marketing their property and selling it for the highest possible price under the best terms.

The real estate industry is highly regulated in the some parts of the world and anyone who aspires to become a real estate agent or start a real estate agency (company) must apply and obtain a license before they can legally receive remuneration for services rendered as a real estate agency firm or real estate broker.

But as a lawyer, you can handle real estate deals in some states in the US and make your commission without operating as a licensed real estate agent. In order to obtain a license as a real estate agent in the US for instance, you are required to write and pass your state’s real estate exams.

The practice in the United States of America is that, a real estate licensed agent is required to disclose to prospective buyers and sellers the nature of their relationship within the transaction and with the parties involved in the deal.

2. Executive Summary

Joel Morrison and CO Real Estate Agency is a real estate agency that will operate in all the states in the United States of America but will be headquartered in Ocean City, New Jersey. We intend to become specialists in owning, developing, acquiring, managing, selling and renting / leasing disposing multifamily residential apartments, office apartments and industrial facilities et al.

Part of our goal as a real estate agency, is to grow to become one of the top 5 largest real estate companies in the whole of the United States of America and to own and manage properties across the United States of America.

Joel Morrison and Co Real Estate Agency will be committed when it comes to maintaining a diverse portfolio of highly quality apartment, office structures and industrial facilities. We will also focus on providing a dynamic, proactive and vibrant working environment for all our employees, such as discounted rentals for employees, and mouthwatering bonus (commission) for every deal that comes through any of the staff.

Joel Morrison and Co Real Estate Agency is founded by Joel Morrison, Sean David and Sarah Snowfield. They are the major financier of the company. Joel Morrison is the company’s president and CEO. Joel Morrison has well over 20 years of real estate experience including, significant senior management positions in the areas of sales, marketing, new technologies, and franchise management for top real estate companies in the United States of America and Canada.

3. Our Products and Services

Joel Morrison and Co Real Estate Agency is set to offer a variety of services within the scope of the real estate industry in the United States of America. Our intention of starting a real estate agency is to make profits from the industry and we will do all that is permitted by the law in the US to achieve our aim and ambition. Our business offering are listed below;

• Facilitating a Purchase — guiding a buyer through the process.
• Facilitating a Sale — guiding a seller through the selling process.
• FSBO document preparation — preparing necessary paperwork for “For Sale by Owner” sellers.
• Property Management
• Exchanging property.
• Auctioning property.
• Preparing contracts and leases.
• Listing the property for sale to the public
• Providing the seller with a real property condition disclosure (if required by law) and other necessary forms.
• Preparing necessary papers describing the property for advertising, pamphlets, open houses, etc.
• Holding an open house to show the property.
• Serving as a contact available to answer any questions about the property and schedule showing appointments.
• Ensuring that buyers are pre-screened and financially qualified to buy the property. (Sellers should be aware that the underwriter for any real estate mortgage loan is the final say.)
• Negotiating price on behalf of the sellers.
• Acts as a fiduciary for the seller, which may include preparing a standard real estate purchase contract.
• Selling of Fully Furnished Properties
• Selling of Landed Properties
• Real Estate Consultancy and Advisory Services

4. Our Mission and Vision Statement

• To be the number one real estate agency (company) that best understands and satisfies all real estate needs of our clients in the United States of America and Foreign Investors.
• Our mission and values are to help people, businesses and property owners and clients in the United States of America and throughout the world realize their dreams of owning properties, selling properties, leasing properties or renting properties in the United States of America.

Our Business Structure

Our company’s structure is not entirely different from what is obtainable in the real estate industry, as a matter of priority, we have decided to create a structure that will allow for easy growth for all our employees and also we have created platforms that will enable us attract some of the best hands in the industry.

Joel Morrison and Co Real Estate firm is fully aware of the modus operandi in the real estate industry, hence adequate provision and competitive packages has been prepared for independent sales agents. Our marketing department will be responsible for managing this aspect of our business structure. Below is the business structure of Joel Morrison and Co Real Estate Firm;

• Chief Executive Officer

Project Manager

• Company’s Lawyer / Secretary

Admin and HR Manager

Head of Construction

• Head of Assets Management
• Head of Acquisition and Disposition

Business Developer

• Sales and Marketing Firm
• Front Desk Officer

5. Job Roles and Responsibilities

Chief Executive Officer – CEO (President):

• Responsible for providing direction for the business
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for the day to day running of the business
• Responsible for handling high profile clients and deals
• Responsible for fixing prices and signing business deals
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Reports to the board
• Responsible for the planning, management and coordinating all projects on behalf of the company
• Supervises projects
• Ensures compliance during project executions
• Provides advice on the management of projects
• Responsible for carrying out risk assessment
• Uses IT systems and software to keep track of people and progress of ongoing projects
• Responsible for overseeing the accounting, costing and billing of every project
• Represents the organization’s interest at various stakeholders meetings
• Ensures that project desired result is achieved, the most efficient resources are utilized and different interests involved are satisfied.

Company’s Lawyer / Secretary / Legal Counsel

• Responsible for drawing up contracts and other legal documents for the company
• Consults and handle all corporate legal processes (e.g. intellectual property, mergers & acquisitions, financial / securities offerings, compliance issues, transactions, agreements, lawsuits and patents et al)
• Develops company policy and position on legal issues
• Researches, anticipates and guards company against legal risks
• Represents company in legal proceedings (administrative boards, court trials et al)
• Plays a part in business deals negotiation and take minutes of meetings
• Responsible for analyzing legal documents on behalf of the company
• Prepares annual reports for the company
• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Oversees the smooth running of the daily office activities.

Head, Acquisitions and Dispositions

• Manages overall acquisitions and dispositions
• Identifies and analyzes acquisition opportunities; negotiates acquisitions.
• Responsible for identifying opportunities to acquire properties, possibly within a designated geographic region.
• Assists in the sourcing and acquisition of property for development; conducts market research; contacts brokers and owners about property acquisition opportunities; assists in negotiations with sellers and other parties.
• Identifies and analyzes disposition opportunities; negotiates dispositions.
• Responsible for identifying opportunities to dispose of properties, possibly within a designated geographic region.
• Assists in the disposition of property; conducts market research to determine the value of properties; contacts brokers and potential buyers; assists in structuring sales transactions and negotiations with buyers.

Head of Asset Management

• Oversees the company’s portfolio of real estate assets (which are owned and managed) through acquisitions, dispositions, and day‐to‐day operations, including management of revenue and expense items; works to maximize the portfolio’s performance.
• Provides strategic oversight of existing and potential real estate assets within a designated geographic area.
• Manages business plans and budgets for properties.
• Reviews the condition and maintenance of assigned properties; manages their bookkeeping and cash flow accounting; handles rent reconciliation; prepares property financial reports and annual budget forecasts.
• Establishes and enforces company’s engineering and construction standards
• Ensures that construction work meets or exceeds standards within a designated geographic area.
• Enforces the construction standards; ensures that construction work meets or exceeds standards within cost estimates; monitors quality of work in progress; supervises regional construction heads.
• Ensures that construction work in a particular product line, such as office buildings, meets or exceeds standards within cost estimates; provides technical input on the feasibility of proposed projects; monitors quality of construction work
• Provides overall direction on assigned construction projects; reviews and makes recommendations on planning and design of projects; negotiates contracts or participates in contract negotiations; monitors day‐to‐day progress and activities on project construction sites.
• Assistant project manager with construction project management, on‐site monitoring, and contract negotiations
• Coordinates construction of tenant space in assigned facilities.
• Supervises construction to ensure that it meets the owner’s expectations
• Reviews plans, estimates costs, obtains bids, inspects and approves completed project.
• Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
• Responsible for supervising implementation, advocate for the customer’s need s, and communicate with clients
• Finds and qualifies land for development based on company’s land requirements; maintains a land search database; initiates discussions with property owners about the possible sale of property
• Develops, executes and evaluates new plans for expanding increase sales
• Documents all customer contact and information
• Represents the company in strategic meetings
• Help increase sales and growth for the company

Sales and Marketing Officer

• Lists the property for sale to the public
• Markets space; finds tenants; participates in lease negotiations.
• Provides the seller with a real property condition disclosure (if required by law) and other necessary forms.
• Prepares necessary papers describing the property for advertising, pamphlets, open houses, etc.
• Holds an open house to show the property.
• Serves as a contact available to answer any questions about the property and schedule showing appointments.
• Ensures that buyers are pre-screened and financially qualified to buy the property. (Sellers should be aware that the underwriter for any real estate mortgage loan is the final say.)
• Negotiates price on behalf of the sellers.
• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managers with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for the company
• Serves as internal auditor for the company

Front Desk / Customer’s Service Officer

• Receives Visitors / clients on behalf of the organization
• Receives parcels / documents for the company
• Handles enquiries via e-mail and phone calls for the organization
• Distributes mails in the organization
• Handles any other duties as assigned my the line manager

6. SWOT Analysis

The fact that real estate business is a very rewarding business does not mean that there are no challenges in the industry. Starting a real estate agency in the United States of America comes with its own challenges, you would have to abide by the law and also compete with loads of other entrepreneurs who also are interested in making a living and building a business in the US.

In order to compete favorably in the real estate industry as a real estate agency (broker), we have been able to hire the services of tested and trusted business and HR consultants to help us conduct critical SWOT analysis for us.

We intend maximizing our strengths, by exploring all opportunities we will come across, properly manage our weakness and confront our threats. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Joel Morrison and Co Real Estate Agency;

Some of our areas of strength which we will be bringing to the table in the real estate industry are our robust relation with property investment moguls in the whole of the United States of America. It is pertinent to say that we have a team of experts who have cut their teeth in the industry. Our commission structure and relationship with freelance real estate agents in New Jersey and other state in the US will also count towards our advantage.

As a newbie in the industry, we might have some challenges like; competing with real estate agencies that have been in the industry for many years. That to a large extent is one of our weaknesses.

• Opportunities:

The opportunities in the real estate industry are massive and we are ready to take advantage of any opportunity that comes our way.

Some of the threats that we are likely going to face as a property real estate agency are unfavorable government policies and global economic downturn. There is hardly anything we could possibly do as regards these threats, other than to be optimistic that things will continue to work for our good.

7. MARKET ANALYSIS

• Market Trends

The market trends in the real estate industry is such that, compensation is conventionally based on a percentage of the sales price, split between the buying and selling brokers, and then between the agent(s) and his/her real estate agency. While a split based on the percentage received by the broker is generally normal, in some brokerages agents may pay a monthly “desk fee” for office costs, monthly fee, etc., and then retain 100% of the commission received.

Another obvious trend that is common with real estate agencies in the United States of America is that most of them are improvising on more means of making money in the industry and as matter of fact they are also acting as property developers amongst many other functions that they are involved in.

One thing is certain for every real estate agency; if they are hardworking and proactive, they will always generate enough income to meet all their overhead and operational cost, keep their business going without struggle and make reasonable profits from all business deals that they are involved in.

8. Our Target Market

Our target market cuts across people of different classes and people from all walks of life. We are coming into the industry with a business concept that will enable us work with the highly placed people in the country and at the same with the lowly placed folks who are only interested in putting a roof over their heads.

Our target market is the whole of the United States of America and we have put plans in place to recruit freelance agents (brokers) national to represent our business interest wherever they are located in the United States of America. Below is a list of the people and organizations that we have specifically design our products and services for;

• Families who are interested in renting / leasing or acquiring a property
• Corporate organizations who are interested in renting / leasing or acquiring their own property / properties
• Land Owners
• Properties Owners
• University Campuses (Private Hostels)
• Foreign investors who are interested in owning properties in the United States of America
• The government of the United States of America (Government contracts)
• Managers of public facilities

Our Competitive Advantage

Joel Morrison and Co Real Estate Agency might be a new entrant into the real estate industry in the United States of America, but the management team and board members are considered gurus. They are people who are core professionals and licensed brokers in the US. These are part of what will count as a competitive advantage for us.

Another competitive advantage that we are bringing to the industry is the commission model (our commission structure). We know that freelance (licensed) brokers would work for the highest bidder, which is why we designed a commission structure that will be a win – win scenario for all parties involved in any deal undertaken by us.

Lastly, our employees will be well taken care of, and their welfare package is amongst the best in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our objectives.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Joel Morrison and Co Real Estate Agency is established with the aim of maximizing the profits in the real estate industry via delivering quality and affordable property to our highly esteemed clients and effective property management on behalf of our business partners (landlords and property owners).

A licensed real estate agency can generate income from diverse means in the real estate agency, especially if they are part of a vibrant real estate network that covers the whole of the United States of America. Below are the sources we intend exploring to generate income for Joel Morrison and Co Real Estate Agency;

• Developing Properties for our Clients
• Renting of Properties /Leasing of Properties; Leasing for a fee or percentage of the gross lease value.
• Leasing of Bare Land
• Manage Properties and Facility for Clients
• Property Makeover Services
• Real Estate Consultancy and Advisory Services; Hourly Consulting for a fee, based on the client’s needs.
• Home Selling Kits — guides advising how to market and sell a property.

10. Sales Forecast

As long as there are people living in the United States of America, the services of real estate agents will always be needed. Businesses need facilities to operate from and families and individuals need shelters hence the demand for real estate agents to help them solve these needs.

We are well positioned to take on the challenges that are synonymous in the real estate industry, and we are quite optimistic that we will meet out set target of generating enough income / profits from the first month or operations and grow the business beyond New Jersey to other states in the United States of America within record time.

We have been able to critically examine the real estate market and we have analyzed our chances in the industry and have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions;

• Rent / lease a minimum of 20 housing units to clients (flats, duplexes, studio apartment et al) within the first 6 months of operations
• Rent / lease a minimum of 10 office facilities to clients within the first 6 months of operations
• Manage a minimum of 10 properties for clients within the first 6 months of operations
• Sell a minimum of 20 hectares of land within the first 12 months of operation
• Develop at least one estate within the first 24 months of operations
• Provide advisory and consultancy services for a minimum of 10 client per month
• Handle a minimum of 24 building makeover projects within the first 12 months of operations

N.B: Please note that we could not put a specific amount to the projection because the prices and commissions vary for different properties and for different clients. Part of our business strategy is to work within the budget of our clients to deliver quality property / properties; hence it will be difficult to project what we are likely going to make from such deals.

But the bottom line is that we are definitely going to make reasonable profits from any business deal that we execute since we work based on commission. The property market is structured in such a way that property developers will always make profits from any deal they handle.

• Marketing Strategy and Sales Strategy

We are mindful of the fact that there is stiffer competition in the real estate market in the United States of America; hence we have been able to hire some of the best business developer to handle our sales and marketing; as stated in our real estate agency marketing plan template.

Our sales and marketing team will be recruited based on their vast experience in the industry and they will be trained on a regular basis, so as to be well equipped to meet their targets and the overall goal of the organization. The training is not restricted to only our full – time employees but to also all our freelance brokers that are scattered all over the United States of America.

Our goal is to become one of the top 10 leading real estate agencies in the United States of America, which is why we have mapped out strategies that will help us take advantage of the available markets and grow to become a major force in the industry so much so that property owners will be looking for us to give us their properties to manage for them. Joel Morrison and Co Real Estate Agency is set to make use of the following marketing and sales strategies;

• Introduce our business by sending introductory letters alongside our brochure to stake holders in the real estate industry and also property owners.
• Promptness in bidding for contracts
• Advertise our business in real estate / properties magazines and websites
• List our business on yellow pages
• Attend expos, seminars, and business fairs et al
• Create different packages for different category of clients in order to work with their budgets and still deliver quality housing/ property to them
• Leverage on the internet to promote our business
• Places a “For Sale” sign on the property indicating how to contact the real estate office and agent.

11. Publicity and Advertising Strategy

We have been able to work with our consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to take the real estate industry by storm which is why we have made provisions for effective publicity and advertisement of our company. Below are the platforms we intend to leverage on to promote and advertise our property development business;

• Place adverts on both print and electronic media platforms
• Place our flexi banners with our company’s logo and contacts in every property we put up for sale or lease.
• Sponsor relevant TV shows
• Maximize our company’s website to promote our business
• Leverage on the internet and social media platforms like; Instagram, Facebook ,Twitter, LinkedIn, Badoo, Google+ and other platforms (real estate online forums) to promote our business and list our properties for sale and for lease.
• Install our Bill Boards on strategic locations
• Distribute our fliers and handbills in targeted areas from time to time
• Attend landlord and residence association meetings with the aim of networking and introducing our business.

12. Our Pricing Strategy

Part of our business strategy is to ensure that we work within the budget of our clients to deliver excellent properties to them. The real estate industry is based on commission, and properties are valued by professionals based on the area the facility is located, the type of facility and other factors. Since we are not directly in control of the pricing system in the real estate industry, we can only abide by what is obtainable when it comes to pricing structure.

• Payment Options

Our payment policy is all inclusive because we are quite aware that different people prefer different payment options as it suits them but at the same time, we will not accept payment by cash because of the volume of cash that will be involved in most of our transactions. Real estate deals usually involves huge amount of money. Here are the payment options that we will make available to our clients;

• Payment by via bank transfer
• Payment via online bank transfer
• Payment via check
• Payment via bank draft

In view of the above, we have chosen banking platforms that will help us achieve our plans without any itches and we will also pay our freelance sales agents (real estate brokers) with same platforms. Any agent who intends paying with cash will be directed to deposit the money into our corporate account and then present their payment tellers to us.

13. Startup Expenditure (Budget)

• The Total Fee for incorporating the Business in New Jersey: $750.
• The budget for Liability insurance, permits and license: $5,000
• The Amount needed to acquire a suitable Office facility with enough space in Ocean City, New Jersey for 6 months (Re – Construction of the facility inclusive): $50,000.
• The Cost for equipping the office (computers, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al): $15,000
• The Cost of Launching our official Website: $600
• Additional Expenditure (Business cards, Signage, Adverts and Promotions et al): $5,000

Going by the report from our research and feasibility studies, we will need about $180,000 to set up a property development company in Ocean City, New Jersey, US.

Generating Funding / Startup Capital for Our Property Agency

• The CEO / President Mr. Joel Morrison will generate 20 percent of the start – up capital from her personal savings
• Mr. Sean David will generate 15% of the startup capital
• Ms. Sarah Snowfield will Generate 15% of the startup capital
• 50% of the capital will be sourced from our banks as loan.

14. Sustainability and Expansion Strategy

We are set to spread our tentacles beyond Ocean City, New Jersey to other parts of the United States of America which is why we have hired some of the best hands in the real estate industry to help us lay a solid foundation for growth and expansion of the business.

Part of the sustainability strategy that we have adopted is continues training of our workforce (both fulltime staff and freelancers working for us) so as to provide them with the capacity to perform effectively in the highly competitive real estate industry in the United States of America. Our goal is to have our company’s presence in all the states in the US and will be our driving force in sustaining the growth of the business and taking on new territories.

Check List / Milestone

• Business Name Availability Check:>Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts various banks in the United States: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of All form of Insurance for the Business: Completed
• Renting of Office Facility in Ocean City, New Jersey: Completed
• Conducting Feasibility Studies: Completed
• Generating capital from the CEO / President and Business Partners: Completed
• Applications for Loan from our Bankers: In Progress
• writing of business plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents ( Tenancy Agreements, and freelance agreements et al ), and other relevant Legal Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
• Recruitment of employees: In Progress
• Purchase of the Needed furniture, office equipment, electronic appliances and facility face lift: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business ( Business PR ): In Progress
• Health and Safety and Fire Safety Arrangement: In Progress
• Establishing business relationship with key players in the industry ( networking and membership of relevant real estate bodies ): Completed

More on Real Estate

The 8 Steps in Creating a Real Estate Agent Business Plan + FREE Checklist

• 02 Sep 2020
• Real Estate Marketing ,  Real Estate Social Media

Whether you’re a freshly licensed real estate agent or a seasoned one, you’re an independent contractor who is responsible for overseeing and taking care of the inner workings of your business.  That’s why a real estate agent business plan is crucial if you want to organize and grow your real estate business.

What’s a real estate agent business plan exactly? Think of it as your roadmap to success. It includes your short-term (think 12 months) and long-term (more than 12 months) goals, your niche and what services you can offer within your niche, your target market/ideal client, all the finances, and your marketing plan.

Yes, it seems like a lot to think about. But don’t run away from this opportunistic job just yet — we’ve created an eight-step plan that will help you create your personal real estate agent business plan.

Step 1: Define Your “Why” for your Real Estate Agent Business Plan

Your “why”, or reason for creating this business and pursuing this career will be the foundation for how you run your business. Think of this as your mission and vision. Without this step, you risk losing a vision and purpose, which will in turn confuse and deter clients.

A couple of questions to think about are “why do you want to become successful with your business?” and “what problem do you solve for your clients?”

In times of stress, during interviews, when speaking in casual conversation, and establishing your brand, your “why” is what will keep you motivated to push forward and stand out from the crowd.

Step 2: Define Your Short-Term and Long-Term Real Estate Goals

Short-term is considered 12 months or shorter. Long-term is considered over 12 months. These will, of course, be revised with time. But creating these real estate goals and having them easily accessible will help you focus your efforts on the parts of your real estate business that need the most attention.

Important note: make sure that they’re specific, realistic, and achievable.

Some examples of short term real estate goals might be: create a real estate marketing calendar, create your personal branding, give out your business card to 10 people per day, schedule 10 showings per week, etc. 

Ideas for long term real estate goals may be: close 20 transactions per year, make the top 10% in your brokerage, build a team, increase your closings for the year by 20% year over year, etc. 

Step 3: Find Your Niche

Don’t all real estate agents just want to sell houses? Well, not exactly. If all real estate agents did the same thing, then there wouldn’t be such fierce competition, a large market, or even real estate Instagram influencers. For example, some real estate agents choose to focus on luxury condos, while others have honed in on being a waterfront property expert. What will be your real estate niche?

Here are some questions to think about when choosing your niche:

• What kind of demographic do you want to serve?
• What types of living spaces can you not get enough of?
• Are you a luxury real estate agent, or a more humble suburbs one?
• What kind of services do you offer that no one else does?
• Do you have extra certifications?

These questions will help you get the gears turning in your brain as you establish your unique brand.

Step 4: Market and Competition Research

It’s important to get an assessment of what you’re up against and which areas you want to serve.

First, do some market research to figure out what kind of clientele you are dealing with. Neighborhoods can range drastically in demographics and sales activity, so make sure you do some research to find which neighborhood around you fits with your interest and niche.

After you’ve established an area (or a few areas) you want to conduct your real estate business in, do some competition research on real estate agents in that area. Make a list of what you like about their business, what you don’t like, and how you can “corner” the market — in other words, how your business is different than theirs.  Look for opportunities to enter this market and compete with the other agents.  Analyze their transactions and marketing. Do they offer digital marketing, professional photography, staging services, years of experience, etc.  Focus on what your target demographic would expect in your chosen market, and if you can identify any opportunities to present them uniquely and standout!

Step 5: Develop Methods for Generating Real Estate Leads

So you have your mission in place, your goals, your niche, and you’ve researched and cornered your market. Now it’s time to focus on how you’re actually going to attract clients. This will vary and change as you grow your business, but starting out with the basics lays a good foundation.

Places where you can generate leads are social media, newsletter flows, word-of-mouth, in-person networking, creation of business material , landing pages, courses, hosting open houses for other agents, holding seminars,  free informational material, real estate websites with idx ,  etc.

You’ve identified how ways to generate real estate leads to sell houses, now it’s time for you to prove you can also sell your brand.

Step 6: Real Estate Branding and Marketing

After figuring out the methods in which you can generate real estate leads, now it’s time to come up with a real estate marketing and branding plan.

Branding is how you want your prospective clients to perceive your brand. Here are some questions to think about:

• What brand voice do you want to have?
• Which colors do you want associated with your brand?
• What are some of your brand fonts?
• What do you want clients to feel when they encounter your real estate brand?

Marketing is the strategy in which you will present your brand to the public, and how you will retain clients and audiences. It helps to have a real estate marketing schedule or real estate social media content calendar   laid out in order to do this to prevent overthinking and overworking yourself every single day.

Questions to get you thinking about your brand:

• Where are you going to promote your brand?
• How are you going to price your services?
• What kind of promotions will you have in place?
• What steps will you take to stay consistent in your real estate marketing efforts?

This step will require you to get a little more into the nitty-gritty of your brand. But don’t feel too pressured to make final decisions. While it’s important to be consistent, as you develop and grow, so will your brand, which means changes are usually inevitable.

Step 7: Budgeting

Especially as an independent contractor, keeping track of your finances and budgeting out your expenses is critical to understanding how to keep running your business. Categorize and keep record of dates so you know exactly where your money is going and where your money is coming from.

Some items to consider when developing your real estate agent business plan budget are: 

• What is my commission split?
• How much will I spend on marketing each listing? 
• What is the average sales price in my niche? 
• How many homes have I sold over the last 6 months?
• Do I need to hire a transaction coordinator?
• What are my car expenses?

Make sure to include expense reviews every month so you become familiar with your finance sheets.

This way, as you progress, you can become aware of how to be more efficient with your time and money.

Step 8: Have a Real Estate Agent Business Plan Checklist That Reminds You to Periodically Review Your Business Plan

Every part of your real estate agent business plan plays a key role in making your brand grow and thrive. But with everything that is going on and will be going on in your real estate business, it’s easy to neglect one aspect of the plan.

That’s why we recommend having a checklist to remind you to routinely check up on every aspect of your plan to make sure every cog in the wheel is attended to.

Check out the free Real Estate Agent Business Plan Checklist that we created so you don’t have to worry about this step! You can go ahead and get started on the first step of creating your real estate agent business plan.

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How to write a business plan for a real estate agency?

Creating a business plan for a real estate agency is an essential process for any entrepreneur. It serves as a roadmap that outlines the necessary steps to be taken to start or grow the business, the resources required, and the anticipated financial outcomes. It should be crafted with method and confidence.

This guide is designed to provide you with the tools and knowledge necessary for creating a real estate agency business plan, covering why it is so important both when starting up and running an established business, what should be included in your plan, how it should be structured, what tools should be used to save time and avoid errors, and other helpful tips.

We have a lot to cover, so let's get to it!

In this guide:

Why write a business plan for a real estate agency?

What information is needed to create a business plan for a real estate agency.

• What goes in the financial forecast for a real estate agency?
• What goes in the written part of a real estate agency business plan?
• What tool can I use to write my real estate agency business plan?

Understanding the document's scope and goals will help you easily grasp its structure and content. Before diving into the specifics of the plan, let's take a moment to explore the key reasons why having a real estate agency business plan is so crucial.

To have a clear roadmap to grow the business

It's rarely business as usual for small businesses. The economy follows cycles where years of growth are followed by recessions, and the business environment is always changing with new technologies, new regulations, new competitors, and new consumer behaviours appearing all the time...

In this context, running a business without a clear roadmap is like driving blindfolded: it's dangerous at best. That's why writing a business plan for a real estate agency is essential to create successful and sustainable businesses.

To write an effective business plan, you will need to take stock of where you are (if you are already in business) and where you want the business to go in the next three to five years.

Once you know where you want your real estate agency to be, you'll have to identify:

• what resources (human, equipment, and capital) are needed to get there,
• at what pace the business needs to progress to get there in time,
• and what risks you'll face along the way.

Going through this process regularly is beneficial, both for startups and existing companies, as it helps make informed decisions about how best to allocate resources to ensure the long-term success of the business.

To get visibility on future cash flows

If your small real estate agency runs out of cash: it's game over. That's why we often say "cash is king", and it's crucial to have a clear view of your real estate agency's future cash flows.

So, how can you achieve this? It's simple - you need to have an up-to-date financial forecast.

The good news is that your real estate agency business plan already includes a financial forecast (which we'll discuss further in this guide). Your task is to ensure it stays current.

To accomplish this, it's essential to regularly compare your actual financial performance with what was planned in your financial forecast. Based on your business's current trajectory, you can make adjustments to the forecast.

By diligently monitoring your real estate agency's financial health, you'll be able to spot potential financial issues, like unexpected cash shortfalls, early on and take corrective actions. Moreover, this practice will enable you to recognize and capitalize on growth opportunities, such as excess cash flow enabling you to expand to new locations.

To secure financing

Whether you are a startup or an existing business, writing a detailed real estate agency business plan is essential when seeking financing from banks or investors.

This makes sense given what we've just seen: financiers want to ensure you have a clear roadmap and visibility on your future cash flows.

Banks will use the information included in the plan to assess your borrowing capacity (how much debt your business can support) and your ability to repay the loan before deciding whether they will extend credit to your business and on what terms.

Similarly, investors will review your plan carefully to assess if their investment can generate an attractive return on investment.

To do so, they will be looking for evidence that your real estate agency has the potential for healthy growth, profitability, and cash flow generation over time.

Now that you understand why it is important to create a business plan for a real estate agency, let's take a look at what information is needed to create one.

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The Business Plan Shop makes it easy to create a financial forecast to assess the potential profitability of your projects, and write a business plan that’ll wow investors.

Writing a real estate agency business plan requires research so that you can project sales, investments and cost accurately in your financial forecast.

In this section, we cover three key pieces of information you should gather before drafting your business plan!

Carrying out market research for a real estate agency

Carrying out market research before writing a business plan for a real estate agency is essential to ensure that the financial projections are accurate and realistic.

Market research helps you gain insight into your target customer base, competitors, pricing strategies and other key factors which can have an impact on the commercial success of your business.

In particular, it is useful in forecasting revenue as it provides valuable data regarding potential customers’ spending habits and preferences.

You may discover that potential buyers are looking for properties in different locations than they have in the past. For example, they may be more interested in smaller towns or rural areas, rather than larger cities. Additionally, you might find that buyers are looking for different features in a property than they have in the past. For example, they could be more interested in properties with energy efficient features or modern amenities.

This information can then be used to create more accurate financial projections which will help investors make informed decisions about investing in your real estate agency.

Developing the sales and marketing plan for a real estate agency

Budgeting sales and marketing expenses is essential before creating a real estate agency business plan.

A comprehensive sales and marketing plan should provide an accurate projection of what actions need to be implemented to acquire and retain customers, how many people are needed to carry out these initiatives, and how much needs to be spent on promotions, advertising, and other aspects.

This helps ensure that the right amount of resources is allocated to these activities in order to hit the sales and growth objectives forecasted in your business plan.

The staffing and capital expenditure requirements of a real estate agency

Whether you are starting or expanding a real estate agency, it is important to have a clear plan for recruitment and capital expenditures (investment in equipment and real estate) in order to ensure the success of the business.

Both the recruitment and investment plans need to be coherent with the timing and level of growth planned in your forecast, and require appropriate funding.

A real estate agency might incur staffing costs such as salaries for real estate agents, administrative staff, marketing personnel, and receptionists. They might also incur costs for equipment such as computers, phones, furniture, and marketing materials. Additionally, they might need to pay for website hosting, software subscriptions, and other digital services.

In order to create a realistic financial forecast, you will also need to consider the other operating expenses associated with running the business on a day-to-day basis (insurance, bookkeeping, etc.). 

Once you have all the necessary information to create a business plan for your real estate agency, it is time to start creating your financial forecast.

What goes into your real estate agency's financial forecast?

The financial forecast of your real estate agency will enable you to assess the profitability potential of your business in the coming years and how much capital is required to fund the actions planned in the business plan.

The four key outputs of a financial forecast for a real estate agency are:

• The profit and loss (P&L) statement ,
• The projected balance sheet ,
• The cash flow forecast ,
• And the sources and uses table .

Let's take a closer look at each of these.

The projected P&L statement

The projected P&L statement for a real estate agency shows how much revenue and profits your business is expected to generate in the future.

Ideally, your real estate agency's P&L statement should show:

• Healthy growth - above inflation level
• Improving or stable profit margins
• Positive net profit

Expectations will vary based on the stage of your business. A startup will be expected to grow faster than an established real estate agency. And similarly, an established company should showcase a higher level of profitability than a new venture.

The forecasted balance sheet of your real estate agency

The projected balance sheet of your real estate agency will enable the reader of your business plan to assess the overall financial health of your business.

It shows three elements: assets, liabilities and equity:

• Assets: are productive resources owned by the business, such as equipment, cash, and accounts receivable (money owed by clients).
• Liabilities: are debts owed to creditors, lenders, and other entities, such as accounts payable (money owed to suppliers).
• Equity: includes the sums invested by the shareholders or business owners and the profits and losses accumulated by the business to date (which are called retained earnings). It is a proxy for the value of the owner's stake in the business.

Analysing your real estate agency projected balance sheet provides an understanding of your real estate agency's working capital structure, investment and financing policies.

In particular, the readers of your plan can compare the level of financial debt on the balance sheet to the equity value to measure the level of financial risk (equity doesn't need to be reimbursed, while financial debt must be repaid, making it riskier).

They can also use your balance sheet to assess your real estate agency's liquidity and solvency:

• A liquidity analysis: focuses on whether or not your business has sufficient cash and short-term assets to cover its liabilities due in the next 12 months.
• A solvency analysis: takes and longer view to assess whether or not your business has the capacity to repay its debts over the medium-term.

The cash flow forecast

A projected cash flow statement for a real estate agency is used to show how much cash the business is generating or consuming.

The cash flow forecast is usually organized by nature to show three key metrics:

• The operating cash flow: do the core business activities generate or consume cash?
• The investing cash flow: how much is the business investing in long-term assets (this is usually compared to the level of fixed assets on the balance sheet to assess whether the business is regularly maintaining and renewing its equipment)?
• The financing cash flow: is the business raising new financing or repaying financiers (debt repayment, dividends)?

As we discussed earlier, cash is king and keeping an eye on future cash flows an imperative for running a successful business. Therefore, you can expect the reader of your real estate agency business plan to pay close attention to your cash flow forecast.

Also, note that it is customary to provide both yearly and monthly cash flow forecasts in a business plan - so that the reader can analyze seasonal variation and ensure the real estate agency is appropriately funded.

The initial financing plan

The initial financing plan - also called a sources and uses table - is an important tool when starting a real estate agency.

It shows where the money needed to set up the business will come from (sources) and how it will be allocated (uses).

Having this table helps understand what costs are involved in setting up the real estate agency, how the risks are distributed between the shareholders and the lenders, and what will be the starting cash position (which needs to be sufficient to sustain operations until the business breaks even).

Now that the financial forecast of a real estate agency business plan is understood, let's focus on what goes into the written part of the plan.

The written part of a real estate agency business plan

The written part of the business plan is where you will explain what your business does and how it operates, what your target market is, whom you compete against, and what strategy you will put in place to seize the commercial opportunity you've identified.

Having this context is key for the reader to form a view on whether or not they believe that your plan is achievable and the numbers in your forecast realistic.

The written part of a real estate agency business plan is composed of 7 main sections:

• The executive summary
• The presentation of the company
• The products and services
• The market analysis
• The strategy
• The operations
• The financial plan

Let's go through the content of each section in more detail!

1. The executive summary

In your real estate agency's business plan, the first section is the executive summary — a captivating overview of your plan that aims to pique the reader's interest and leave them eager to learn more about your business.

When crafting the executive summary, start with an introduction to your business, including its name, concept, location, how long it has been running, and what sets it apart. Briefly mention the products and services you plan to offer and your target customer profile.

Following that, provide an overview of the addressable market for your real estate agency, current trends, and potential growth opportunities.

Next, include a summary of key financial figures like projected revenues, profits, and cash flows.

Finally, in the "ask" section, detail any funding requirements you may have.

2. The presentation of the company

In your real estate agency business plan, the second section should focus on the structure and ownership, location, and management team of your company.

In the structure and ownership part, you'll provide an overview of the business's legal structure, details about the owners, and their respective investments and ownership shares. This clarity is crucial, especially if you're seeking financing, as it helps the reader understand which legal entity will receive the funds and who controls the business.

Moving on to the location part, you'll offer an overview of the company's premises and their surroundings. Explain why this particular location is of interest, highlighting factors like catchment area, accessibility, and nearby amenities.

When describing the location of your real estate agency, you could emphasize the potential for growth that the area holds. It may be a relatively small market, but it could be well-positioned for future development. The area could also have a strong local economy, with a variety of businesses and services nearby. Additionally, the area could have access to good public transportation, allowing for easy access to potential customers.

Finally, you should introduce your management team. Describe each member's role, background, and experience.

Don't forget to emphasize any past successes achieved by the management team and how long they've been working together. Demonstrating their track record and teamwork will help potential lenders or investors gain confidence in their leadership and ability to execute the business plan.

3. The products and services section

The products and services section of your real estate agency business plan should include a detailed description of what your company sells to its customers. 

For example, your real estate agency might offer services such as residential and commercial property sales and leasing, mortgage and refinancing assistance, and property management services. These services ensure that customers can find the right property for their needs, obtain financing, and manage their investment with confidence. Through a comprehensive portfolio of services, customers can rely on your real estate agency to help guide them through the entire process of purchasing and managing a property.

The reader will want to understand what makes your real estate agency unique from other businesses in this competitive market.

When drafting this section, you should be precise about the categories of products or services you sell, the clients you are targeting and the channels that you are targeting them through. 

4. The market analysis

When presenting your market analysis in your real estate agency business plan, you should detail the customers' demographics and segmentation, target market, competition, barriers to entry, and any regulations that may apply.

The goal of this section is to help the reader understand how big and attractive your market is, and demonstrate that you have a solid understanding of the industry.

You should start with the demographics and segmentation subsection, which gives an overview of the addressable market for your real estate agency, the main trends in the marketplace, and introduces the different customer segments and their preferences in terms of purchasing habits and budgets.

The target market section should follow and zoom on the customer segments your real estate agency is targeting, and explain how your products and services meet the specific needs of these customers.

For example, your target market might include young professionals. These customers might be looking to buy their first home and need advice on navigating the real estate market. They may also be interested in learning about mortgage options and other financial services to help them achieve their goals.

Then comes the competition subsection, where you should introduce your main competitors and explain what differentiates you from them.

Finally, you should finish your market analysis by giving an overview of the main regulations applicable to your real estate agency.

5. The strategy section

When crafting the strategy section of your business plan for your real estate agency, it's important to cover several key aspects, including your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants.

In the competitive edge subsection, clearly explain what sets your company apart from competitors. This is particularly critical if you're a startup, as you'll be trying to establish your presence in the marketplace among entrenched players.

The pricing strategy subsection should demonstrate how you aim to maintain profitability while offering competitive prices to your customers.

For the sales & marketing plan, outline how you plan to reach and acquire new customers, as well as retain existing ones through loyalty programs or special offers.

In the milestones subsection, detail what your company has achieved thus far and outline your primary objectives for the coming years by including specific dates for expected progress. This ensures everyone involved has clear expectations.

Lastly, in the risks and mitigants subsection, list the main risks that could potentially impact the execution of your plan. Explain the measures you've taken to minimize these risks. This is vital for investors or lenders to feel confident in supporting your venture - try to proactively address any objection they might have.

Your real estate agency faces a number of risks. For example, you may face the risk of financial loss due to tenant default. Tenants may fail to pay their rent on time, leaving you with a loss of income. Additionally, your real estate agency may face the risk of fraud. Fraudulent transactions could occur through the use of stolen credit cards or other fraudulent activities, resulting in a financial loss for your agency.

6. The operations section

In your business plan, it's also essential to provide a detailed overview of the operations of your real estate agency.

Start by covering your team, highlighting key roles and your recruitment plan to support the expected growth. Outline the qualifications and experience required for each role and your intended recruitment methods, whether through job boards, referrals, or headhunters.

Next, clearly state your real estate agency's operating hours, allowing the reader to assess staffing levels adequately. Additionally, mention any plans for varying opening times during peak seasons and how you'll handle customer queries outside normal operating hours.

Then, shift your focus to the key assets and intellectual property (IP) necessary for your business. If you rely on licenses, trademarks, physical structures like equipment or property, or lease agreements, make sure to include them in this section.

You may have key assets and IP such as real estate listings and customer information. These listings might include properties for sale, rent, or lease, and may include details such as pricing, location, and photos. Customer information could include names, addresses, contact details, and details about the properties they are interested in.

Lastly, include a list of suppliers you plan to work with, detailing their services and main commercial terms, such as price, payment terms, and contract duration. Investors are interested in understanding why you've chosen specific suppliers, which may be due to higher-quality products or established relationships from previous ventures.

7. The presentation of the financial plan

The financial plan section is where we will present the financial forecast we talked about earlier in this guide.

Now that you have a clear idea of what goes in your real estate agency business plan, let's look at the solutions you can use to draft yours.

What tool should I use to write my real estate agency's business plan?

In this section, we will be reviewing the two main solutions for creating a real estate agency business plan:

• Using specialized online business plan software,
• Outsourcing the plan to the business plan writer.

Using an online business plan software for your real estate agency's business plan

The modern and most efficient way to write a real estate agency business plan is to use business plan software .

There are several advantages to using specialized software:

• You can easily create your financial forecast by letting the software take care of the financial calculations for you without errors
• You are guided through the writing process by detailed instructions and examples for each part of the plan
• You can access a library of dozens of complete business plan samples and templates for inspiration
• You get a professional business plan, formatted and ready to be sent to your bank or investors
• You can easily track your actual financial performance against your financial forecast
• You can create scenarios to stress test your forecast's main assumptions
• You can easily update your forecast as time goes by to maintain visibility on future cash flows
• You have a friendly support team on standby to assist you when you are stuck

If you're interested in using this type of solution, you can try The Business Plan Shop for free by signing up here .

Hiring a business plan writer to write your real estate agency's business plan

Outsourcing your real estate agency business plan to a business plan writer can also be a viable option.

These writers possess valuable experience in crafting business plans and creating accurate financial forecasts. Additionally, enlisting their services can save you precious time, enabling you to concentrate on the day-to-day operations of your business.

It's important to be mindful, though, that hiring business plan writers comes with a cost. You'll be paying not just for their time but also for the software they use, and their profit margin.

Based on experience, a complete business plan usually requires a budget of at least £1.5k ($2.0k) excluding tax, and more if revisions are needed after initial meetings with lenders or investors - changes often arise following these discussions.

When seeking investment, be cautious about spending too much on consulting fees. Investors prefer their funds to contribute directly to business growth. Thus, the amount you spend on business plan writing services and other consulting services should be negligible compared to the amount you raise.

Another aspect to consider is that while you'll receive the output of the business plan, you usually won't own the actual document. It will be saved in the consultant's business plan software, which will make updating the plan challenging without retaining the consultant on a retainer.

Given these factors, it's essential to carefully weigh the pros and cons of outsourcing your real estate agency business plan to a business plan writer and decide what best suits your business's unique needs.

Why not create your real estate agency's business plan using Word or Excel?

Using Microsoft Excel and Word (or their Google, Apple, or open-source equivalents) to write a real estate agency business plan is not advisable. Allow me to explain the reasons.

Firstly, creating an accurate and error-free financial forecast on Excel or any spreadsheet demands technical expertise in accounting principles and financial modelling. Without a degree in finance and accounting and significant financial modelling experience, it's unlikely that the reader will fully trust your numbers.

Secondly, relying on spreadsheets is inefficient. While it may have been the go-to option in the past, technology has evolved, and software now performs such tasks much faster and more accurately.

The second reason is that it is inefficient. Building forecasts on spreadsheets was the only option in the early 2000s, nowadays technology has advanced and software can do it much faster and much more accurately.

And with the rise of AI, software is also becoming smarter at helping us detect mistakes in our forecasts and helping us analyse the numbers to make better decisions.

Moreover, software offers ease in comparing actuals versus forecasts and maintaining up-to-date forecasts for clear visibility on future cash flows, as we discussed earlier in this guide. Such tasks are cumbersome when using spreadsheets.

Now, let's address the written part of your real estate agency business plan. While it may be less prone to errors, using software can significantly boost productivity. Word processors lack instructions and examples for each section of your business plan. They also won't automatically update your numbers when changes occur in your forecast, and they lack automated formatting capabilities.

In summary, while some entrepreneurs may consider Word or Excel for their business plan, it's far from the best or most efficient solution when compared to specialized software.

• Having an up-to-date business plan is key to maintaining visibility on your future cash flows.
• A business plan has 2 parts: a financial forecast highlighting the expected growth, profitability and cash generation of the business; and a written part which provides the context needed to interpret and assess the quality of the forecast.
• Using business plan software is the modern way of writing and maintaining business plans.

We hope that this guide helped you to better understand how to write the business plan for a real estate agency. If you still have questions, do not hesitate to contact us.

Also on The Business Plan Shop

• How to write a 5 years business plan
• Financial forecast in a business plan
• Business plan personnel plan
• How to talk about the competition in a business plan?
• Business plan myths

Know someone who owns or wants to start a real estate agency? Share this article with them!

Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

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4395 Capstone Ct,   Roswell, GA 30075

What's special.

An Enclave of New Cotton States Properties Homes in Top Lassiter High School! A Tradition in Building in Cobb County since 1972! Gorgeous Main Level Master on Main Rosedale Plan*Beautiful Hardwoods Greet you on the Main Level*Spa Like Master Bath*Gourmet Island Kitchen overlooks Family Room*Butlers Pantry*Entertain with Family and Friends on your Covered Back Deck with Beautiful Brick Fireplace and Level Backyard*Three Additional Large Bedrooms Upstairs*Media/Children's Retreat* Gorgeous Homesite*Bring the Family to this Great East Cobb Location* Brookfield Country Club Swim/Tennis Available 5 minutes Away* Minutes to Historic Roswell or Downtown Woodstock*Walking Distance to Publix Shopping* $25,000 Buyer Incentive to use anyway they like on Homes that close on or Before May 31 ,2024* Use GPS input 4882 Old Mountain Park Rd Roswell GA 30075 to front entrance of Summit Chase Subdivision* Show more

Travel times

Facts & features, bedrooms & bathrooms.

• Bedrooms : 4
• Bathrooms : 4
• Full bathrooms : 3
• 1/2 bathrooms : 1
• Main level bathrooms : 1
• Main level bedrooms : 1

Primary bedroom

• Features : Master on Main
• Level : Master on Main

Primary bathroom

• Features : Double Vanity, Separate Tub/Shower, Soaking Tub

Dining room

• Features : Butlers Pantry, Separate Dining Room
• Features : Breakfast Bar, Cabinets White, Kitchen Island, Pantry Walk-In, Stone Counters, View to Family Room
• Level : Basement
• Forced Air, Natural Gas, Zoned
• Ceiling Fan(s), Central Air, Zoned
• Included : Dishwasher, Disposal, Double Oven, Gas Cooktop, Gas Water Heater, Microwave, Range Hood, Self Cleaning Oven
• Laundry : Laundry Room, Main Level, Sink
• Crown Molding, Double Vanity, Entrance Foyer, Tray Ceiling(s), Walk-In Closet(s)
• Flooring : Carpet, Ceramic Tile, Hardwood
• Windows : Double Pane Windows
• Basement : Bath/Stubbed,Daylight,Exterior Entry,Full
• Attic : Pull Down Stairs
• Number of fireplaces : 2
• Fireplace features : Brick, Family Room, Gas Log, Gas Starter, Outside
• Common walls with other units/homes : No Common Walls

Interior area

• Total structure area : 3,300
• Total interior livable area : 3,300 sqft

Virtual tour

• View virtual tour
• Total spaces : 3
• Parking features : Attached, Garage, Garage Door Opener, Kitchen Level, Level Driveway
• Attached garage spaces : 3
• Has uncovered spaces : Yes

Accessibility

• Accessibility features : None
• Levels : Two
• Stories : 2
• Patio & porch : Covered, Deck, Front Porch, Rear Porch
• Exterior features : Private Yard, Rain Gutters
• Pool features : None
• Spa features : None
• Fencing : None
• Has view : Yes
• View description : Other
• Waterfront features : None
• Body of water : None
• Size : 0.50 Acres
• Features : Back Yard, Front Yard, Landscaped, Level
• Additional structures : None
• Parcel number : 16003700520
• Special conditions : Standard
• Other equipment : Irrigation Equipment
• Horse amenities : None

Construction

Type & style.

• Home type : SingleFamily
• Architectural style : Traditional
• Property subtype : Single Family Residence, Residential
• Brick, Cement Siding
• Foundation : Concrete Perimeter
• Roof : Composition,Ridge Vents,Shingle
• New Construction
• New construction : Yes
• Year built : 2024
• Warranty included : Yes

Utilities & green energy

• Electric : 110 Volts, 220 Volts
• Sewer : Septic Tank
• Water : Public
• Utilities for property : Electricity Available, Natural Gas Available

Green energy

• Energy efficient items : None
• Energy generation : None

Community & HOA

• Features : Homeowners Assoc, Near Shopping, Sidewalks, Street Lights
• Security : Carbon Monoxide Detector(s), Security System Owned, Smoke Detector(s)
• Subdivision : Summit Chase
• Has HOA : Yes
• HOA fee : $1,000 annually
• Region : Roswell

Financial & listing details

• Price per square foot : $321/sqft
• Buyer's agency fee : 3%
• Date on market : 4/8/2024
• Electric utility on property : Yes
• Road surface type : Paved
• Cobb County
• 4395 Capstone Ct

Nearby cities

• Alpharetta Real estate
• Atlanta Real estate
• East Point Real estate
• Fairburn Real estate
• Johns Creek Real estate
• Milton Real estate
• Riverdale Real estate
• Roswell Real estate
• Sandy Springs Real estate
• Union City Real estate

• T: 513.793.1990
• F: 513.792.8374

Real estate liability coverage, deciphered

Strategic protections real estate agents can take to mitigate risk.

Professional liability coverage, also known as errors and omissions (E&O) insurance, protects real estate agents, brokers and property managers against claims related to mistakes or negligence that arise in their professional activities. This type of insurance offers experienced legal support and coverage to help safeguard real estate professionals from financial losses that may result from errors, omissions or issues with contractual paperwork.

Understand the range of risks

In summer 2023, Insurance Journal reported an increase in the frequency of E&O-related claims – linked to higher staff turnover and training deficiencies. This is because it’s common for new real estate professionals to learn on the job, but without clear procedures, attention to details and accuracy often fall short.

Resulting errors and consequential risks that may emerge include:

• Litigation – Transactions can be complex, giving way to title issues, contractual disputes or breaches of fiduciary duty from poorly versed real estate professionals.
• Exceeding purchase and sale timelines – Laws often require agents to provide their clients with all material facts about a property in a timely manner. Failure to promptly disclose relevant facts or withholding key information may result in legal action.
• Electronic data mismanagement – Real estate professionals regularly handle sensitive personal and financial data. When data is mismanaged, a breach of compliance regulations can result in legal action and fines – on top of consequent financial and reputational damage.
• Injury – Agents and property managers may be held liable when an individual is injured while on a property.
• Property damage – Negligible advice relating to poor property conditions or failure to meet contractual obligations for property repairs may also lead to legal claims.

While awareness of potential risks can help empower real estate agents to make more informed decisions, professional liability coverage provides an additional line of defense against some potential legal challenges.

Recognize the differences in coverage

Professional liability insurance policies vary, but coverage typically includes legal defense costs, settlements and judgements from covered claims.

It’s important to note that while professional liability coverage is a critical protective measure for real estate professionals, agents typically need to have general liability insurance to cover any medical or legal defense costs that stem from injury or property damage-related claims.

While some states (or real estate boards) require agents to carry a professional liability insurance policy, in others it’s a voluntary decision made by the agent or their brokerage. Premium costs can differ state to state, and selling commercial versus residential real estate can potentially impact premium costs.

Staying informed about local real estate laws and regulations can prevent potentially damaging compliance issues.

Take the right steps to avoid business disruption

Financial strain and legal challenges can be disruptive to a real estate business in the event of a professional liability claim. Choosing the right professional liability insurance is a proactive measure that can protect real estate professionals, preserve client trust and help ensure business continuity.

Collaborating with an insurance specialist alongside your financial advisor can help you make informed decisions that align with your risk tolerance and overall financial goals. Contact your advisor to learn more.

Sources: travelers.com; insurancejournal.com; coverwallet.com; coverhound.com 

The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation. Any opinions are those of the author and not necessarily those of Raymond James.

Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional.

ASPIRE TODAY. PLAN FOR TOMORROW.

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Raymond James financial advisors may only conduct business with residents of the states and/or jurisdictions for which they are properly registered. Therefore, a response to a request for information may be delayed. Please note that not all of the investments and services mentioned are available in every state. Investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this site. Contact your local Raymond James office for information and availability. Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members. Investment advisory services offered through Raymond James Financial Services Advisors, Inc.. Aspire Wealth Planning is not a registered broker/dealer and is independent of Raymond James Financial Services. © 2024 Securities offered through Raymond James Financial Services, Inc., member FINRA  /  SIPC    |    Legal Disclosures    |    Privacy, Security & Account Protection    |    Terms of Use

• Things To Do After Passing Your Real Estate Salesperson Exam

Your Next Steps: Navigating the Path to Becoming a Successful Real Estate Agent

Jacqueline Kyo Thomas Freedom Trail Realty School, Inc.

Last Updated: June 24, 2024

Hey there! Congratulations on passing your real estate exam—that’s a huge deal! But what’s next?

Whether you're starting your real estate career in Massachusetts or anywhere else, you have a few steps to take before you become a pro. We’ve got your back. In this post, we break down the must-do steps. Let’s dive in and get you set up for a killer start in your new career.

1. Get Your License

Once you’ve passed your real estate salesperson exam in Massachusetts, your very next step is to get your real estate license so you can start practicing.

Whether you’ve taken your Massachusetts exam online or in person, you will receive your license at a PSI testing center. If you’ve taken the test virtually, PSI will send you instructions on how to receive your license from a local PSI center.

Be prepared to pay the licensing fee. The fee for a real estate salesperson license will be between $103 and $150. Why is it not one set fee? In Massachusetts, your first real estate license is prorated based on your birthday. To avoid frustration, plan to pay $150. And don’t forget that PSI also charges a $12 license issuance fee.

Once processed, you’ll receive your license and can officially practice as a real estate agent in Massachusetts. But not yet. The next step is also essential.

2. Choose a Brokerage

When you work as a real estate salesperson in Massachusetts, you must work with a broker. Here’s why:

• Brokers are legally responsible for the actions of the salespersons working under them. This structure helps maintain professional accountability in real estate transactions.
• Brokers have more experience and training , which is crucial in overseeing the transactions conducted by salespersons. You're a brand new agent, so you need experienced oversight.
• Brokers provide resources for real estate salespeople . Working under a broker will give you access to a range of resources you might not have independently. This includes listings, marketing tools, office space, and administrative support. Support like this can give you a solid foundation to build your real estate career.

As you see, selecting the right brokerage to begin your real estate career is important. It will be your professional home where you grow your network, learn the industry, and start your transactions. Here's how to make the best choice:

Identify Your Needs and Goals - Consider what’s most important to you in a brokerage. Are you looking for training programs, a strong support system, high commission splits, or perhaps a focus on a specific real estate niche like commercial or residential?

Research Potential Brokerages - Write out a list of local brokerages and research each one. Look at their market presence, reputation, the support they offer new agents, and their company culture. Online reviews are a great way to see how a brokerage is perceived in the community.

Visit Brokerages - Schedule visits to a few top choices. Get a feel for the environment and meet with some of the staff and agents. Pay attention to how welcoming they are and whether their operations align with your career objectives.

During your visits, arrange to speak with brokers at each firm. Ask about their expectations for new agents, support during transactions, and how they handle agent growth and development. This is also your chance to assess how well you might mesh with their team.

Also ask about the commission structure, any desk fees, transaction fees, or other costs associated with working at the brokerage.

Make Your Decision - After gathering all this information, compare your options. Choose the brokerage that best aligns with your professional goals and personal values, and where you feel you will have the best opportunity to succeed.

Choosing the right brokerage can set the tone for your career in real estate. Take the time to find a place where you feel supported and have room to grow.

3. Set Up Your Business Tools

Establishing a strong business foundation is essential for a successful real estate career. Here’s how to set up your business tools effectively:

Create Business Cards - Design professional business cards to share your contact information easily at networking events and with potential clients.

Develop a Professional Website - Every agent needs a website, even if your broker has one already. Your website can be used to showcase your listings, share your bio, and provide valuable content for buyers and sellers. Check out more tips about building a real estate website here .

Establish Social Media Presence - Choose platforms where your potential clients are most active, such as Instagram, Facebook, or LinkedIn. Use these platforms to share market insights, available properties, and tips for buyers and sellers. Click here for essential strategies to make the most of Instagram .

Invest in a CRM System - A Customer Relationship Management (CRM) system will help you keep track of client information, communications, and appointments. It’s vital for managing leads and ensuring no client is overlooked. We’ve discussed what to look for in a CRM System. Check it out here .

Set Up Email Marketing - Set up email marketing on your website to send newsletters, market updates, and personalized check-ins to your contacts. This keeps you on top of their minds and helps build relationships. Learn more about email marketing here .

Each of these steps is designed to build a solid foundation for your real estate business. But that’s not all you must do. Let’s keep going.

4. Start Building Your Network

Building a strong network is essential for a successful career in real estate, and building it early on is a game changer. Here’s why:

The more people you know, the more you learn about the nitty-gritty of the market. This can include tips on listings before they hit the market or heads up on buyer and seller trends. With this inside scoop, you can make smarter moves.

Networking also leads to referrals. This is the bread and butter of real estate. Happy clients and fellow agents can send new business your way. More connections mean more potential for referrals, which can mean more sales.

Then there’s the support you gain from having a network. The real estate business can be tough, especially at the start. Having a network means you have people to turn to for advice, help, and even a bit of moral support when things get hectic.

Don’t just get your license and chill. Get out there, shake some hands, make friends, and build that network. It’s one of the smartest moves you can make early on in your career.

How do you network? Here’s a starter list:

Attend Industry Events - Participate in local real estate events, seminars, and other gatherings. These are great opportunities to meet other agents, brokers, and potential clients.

Visit Properties - One of the easiest ways to meet local agents (and get to know the inventory in your market; more on that in a moment) is to start looking at properties! Start attending open houses and broker opens in your area, and be sure to chat with the agents at the open house.

Join Community Groups - Get involved in local community organizations or committees. This not only helps you understand the community you serve but also positions you as a go-to real estate expert in the area.

Leverage Social Media - Use platforms like LinkedIn, Facebook, and Instagram to connect with industry peers and engage with potential clients. Share valuable content, respond to comments, and showcase your real estate projects.

Follow Up - After meeting new contacts, follow up with a thank you note or an email. Keeping in touch helps you stay top of mind and can lead to future opportunities.

5. Understand Your Market

Next, get to know your local market. When you understand your market, you can give expert-level advice to your clients. You'll know if it's a buyer's or seller's market, what homes are worth, and what clients can expect throughout the buying or selling process. This knowledge makes you a trusted advisor, not just an agent.

Plus, when you know the ins and outs of your local market, you can spot deals that others might miss and help your clients make the best moves.

Understanding market trends helps you plan for the long haul. You can advise clients not just based on today’s conditions, but on where the market is headed. Getting to know your local market sets you up to serve your clients better, make smarter deals, and build a reputation as the go-to agent in your area.

Here’s how to get to know your local market:

Study Market Trends - Regularly review market reports and real estate news. Understand factors like average prices, inventory levels, and buyer demographics in your area.

Visit Properties - Regularly tour homes and attend open houses to get a firsthand look at what’s on the market. This in-person look will help you provide current and accurate advice to your clients. Over time you will get to know all of the properties in the area and niche you work in, making you an valuable expert for your clients.

Talk to Local Experts - Regularly engage with more experienced agents, appraisers, and other real estate professionals. They can provide insights into market dynamics and future trends.

Each of these steps will help you build a strong network and a thorough understanding of your market.

6. Create a Marketing Plan

You need a marketing plan as a new agent. A marketing plan helps you stay organized and focused on your goals. Instead of throwing spaghetti at the wall and seeing what sticks, you will have a clear strategy to follow.

As a new agent, you may not have as much time or money as you’d like. A marketing plan allows you to be more efficient with your resources, which include time, money, and effort.

Your marketing plan will allow you to create a targeted approach so that you tailor your messages to the desired audience. When you reach the right audience the first time, you will significantly increase the return on your initial investment.

Here’s how to create a marketing plan as a new agent:

Define Your Target Audience - Step One: Decide on your target audience. Who are your ideal clients? First-time homebuyers, luxury clients, commercial investors, renters, short-term investors, etc.? Pinning this down helps you tailor your marketing efforts effectively.

Set Clear Goals - Step Two: Define your goals. What do you want your marketing to achieve? More website traffic? A certain number of leads per month? Define what success looks like so you can measure it.

Choose Your Channels - Get active on the right channels. Based on where your audience hangs out, select the channels—social media, email, direct mail, etc., that will be most effective for reaching them.

Plan Your Content - Plan your content for distribution on your chosen channels. What types of content will engage your audience? Think blogs, videos, infographics, and listings. Planning this out helps keep your messaging consistent and engaging.

Budget Your Expenses - Many marketing channels (such as social media) are free to use, but to maximize your exposure, you may choose to pay for promotion. Facebook in particular has become more of a “pay-to-play.” Decide how much you can spend on each marketing activity. This helps ensure that you’re spending wisely and getting the best return on your investments.

Monitor and Adjust - Keep an eye on the performance of your marketing activities. Use tools to track progress and be ready to adjust your plan based on what the data tells you.

A solid marketing plan is your blueprint for success. It keeps your efforts aligned with your goals and helps you build a strong, recognizable brand in the crowded real estate market.

7. Create a Realistic Workflow

If you want to manage your time effectively, stay organized, and keep stress at bay, you need to create a daily workflow. And not just any workflow will do. You need one that you will actually use. Here’s how you can set up a workflow that works for you:

Prioritize Tasks - Start by identifying the tasks that are most critical to your success and need regular attention, such as prospecting for new clients, following up on leads, attending networking events, and managing current listings. Prioritize these tasks to ensure they get done first.

Use Time Blocks - Divide your day into blocks of time dedicated to specific activities. For instance, you might reserve mornings for client meetings and afternoons for paperwork and marketing activities. Time blocking helps prevent tasks from bleeding into each other and keeps you focused.

Automate Routine Tasks - Take advantage of technology to automate routine tasks. Use CRM software to manage client interactions, schedule emails, and follow-ups, or automate social media posts. Automation saves time and reduces the mental load of having to remember everything.

Set Realistic Goals - As a new agent, it's important to set achievable goals to keep yourself motivated. Whether it's closing one sale a month or gaining three new leads per week, make sure your goals are realistic and attainable within your current capabilities and market conditions.

Maintain Work-Life Balance - Finally, make sure your workflow includes breaks and downtime. Real estate can be demanding, and burnout is a real career risk. You must prioritize your mental and physical health if you want to be successful and happy in your career.

Final Thoughts

Stepping into the real estate game is both exciting and challenging, but you’ve got what it takes to make it big. By ticking off each step we’ve covered, you're laying down a solid foundation for a successful career.

More blog posts from Freedom Trail Realty School, Inc.

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Interested in getting your real estate license online?

Start your real estate classes today!

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News Release FHFA Releases 1st Quarter 2024 Foreclosure Prevention and Refinance Report

Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released its first quarter 2024 Foreclosure Prevention and Refinance Report. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 52,154 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped to 6,957,884 since the start of conservatorships in September 2008.

The report also shows that 29 percent of loan modifications completed in the first quarter reduced borrowers’ monthly payments by more than 20 percent. The number of refinances decreased from 71,378 in the fourth quarter of 2023 to 69,878 in the first quarter of 2024.

The Enterprises’ serious delinquency rate declined from 0.55 percent at the end of the fourth quarter of 2023 to 0.51 percent at the end of the first quarter of 2024. This compares with 3.18 percent for Federal Housing Administration (FHA) loans, 2.01 percent for Veterans Affairs (VA) loans, and 1.44 percent for all loans (industry average).

Other highlights from the report include:

• Forbearance : At the end of the quarter, there were 34,348 loans in forbearance, representing approximately 0.11 percent of the Enterprises’ single-family conventional book of business, down from 42,194 or 0.14 percent at the end of the fourth quarter of 2023. Approximately 2 percent of these loans have been on a forbearance plan for more than 12 months.
• Mortgage Performance : The 60+ day delinquency rate declined 8 percent in the quarter, from 0.77 percent at the end of the fourth quarter of 2023 to 0.70 percent at the end of the first quarter of 2024.
• Foreclosures : The number of foreclosure starts decreased slightly to 18,643 while third-party and foreclosure sales fell 3 percent to 3,178 in the first quarter.
• Real Estate Owned (REO) Activity & Inventory : The Enterprises’ REO inventory decreased 5 percent from 19,902 in the fourth quarter of 2023 to 10,404 in the first quarter of 2024, as property dispositions outpaced acquisitions. The total number of property acquisitions decreased 5 percent to 1,400, while dispositions rose to 1,894 during the quarter.

FHFA’s quarterly foreclosure prevention and refinance reports include data on the Enterprises’ mortgage performance, delinquencies, and active forbearance plans, as well as forfeiture actions and refinances by state. The data included in these reports are also available on FHFA's website as an interactive Borrower Assistance Map .

Foreclosure Prevention, Refinance, and Federal Property Manager’s Report – 1Q 2024

The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 11 Federal Home Loan Banks. These government-sponsored enterprises provide more than $8.4 trillion in funding for the U.S. mortgage markets and financial institutions. Additional information is available at www.FHFA.gov , on Twitter @FHFA , YouTube , Facebook, and LinkedIn .

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USD 61.5333 Rub. ↓-0.04 EUR 68.5358 Rub. ↓-0.12 CNY 8.97105 Rub. ↑+0.03 city, Analysis of real estate market in Moscow Oblast, Russia:   ,   ,   ,   RUB: USD: /m² EUR: /m² USD: /ft² GBP: /ft² CHF: /m² CNY: /m² JPY: /m² Change of cost per square foot in per week (USD): Change of average apartment cost in rubles per week, 906 apartments $49.14 million 49.0 thousand m² 527.5 thousand ft² flats/apartments in secondary housing market 1 bedroom apartments 27.3% 247 $9.00 million 8.67 thousand m² 93.4 thousand ft² 2 bedroom apartments 37.4% 339 $17.08 million 17.3 thousand m² 186.3 thousand ft² 3 bedroom apartments 31.0% 281 $19.48 million 19.4 thousand m² 209.2 thousand ft² multi-bedroom apartments 4.3% 39 $3.58 million 3.59 thousand m² 38.6 thousand ft² average apartment cost per square foot/meter 1 bedroom apartments 2 bedroom apartments 3 bedroom apartments multi-bedroom apartments flats/apartments cost on 06.01.2020 1 bedroom flat 35.1 m² 378.0 ft² 2 bedroom flat 51.1 m² 549.7 ft² 3 bedroom flat 69.1 m² 744.3 ft² 4+ bedroom flat 92.0 m² 989.8 ft² | | | and date of original publication. Liability limitation: the owner and administration of website RLT24.com are not responsible for the interpretation and consequences of using the materials from this website. 179 COMMENTS Writing a Business Plan Creating a business plan may seem daunting, but by understanding your business and market fully, you can create a plan that generates success (however you choose to define it). Real Estate Business Plans - Samples, Instructional Guides, and Templates. 9 Steps to Writing a Real Estate Business Plan + Templates (The Close, Apr. 3, 2024) Real Estate Agent Business Plan An optimal business plan for real estate agents includes firm goals, but it's also fluid — you'll want to update your real estate business plan as you grow and the market evolves. Why agents need a real estate business plan. A real estate business plan allows you to stay current with market trends and ahead of the competition. 7 Steps to Writing a Real Estate Business Plan (+ Template) Community: Building strong, vibrant communities and giving back. Clearly defining your mission, vision, and values lays the foundation for a strong and purposeful real estate business that will help you positively impact your clients' lives and your community. 2. Analyze Your Real Estate Market. How to Write a Real Estate Business Plan (+ Free Template) Download as PDF. Download as Word Doc. 1. Write Your Mission Statement. Every real estate agent's business plan should begin with a mission statement, identifying your values and why your business exists. Your mission statement serves as the guide to achieving your ultimate business objective. Real Estate Agency Business Plan PDF Example Business Plan. Creating a comprehensive business plan is crucial for launching and running a successful real estate agency. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your real estate agency's identity, navigate the competitive market, and secure funding for growth. Real Estate Agent Business Plan: Guide & Template (2024) Industry Overview. Research says the global real estate agent and brokerage market are expected to grow from $960.12 billion in 2020 to $1008.95 billion in 2021 at a compound annual growth rate (CAGR) of 5.1%. Also, the market is expected to reach $1351.1 billion in 2025 at a CAGR of 8%. The above figure suggests It is a great market to be in ... Best 10 Step Real Estate Agent Business Plan Template [FREE] There are various business plans out there all with their features and benefits. For example, Icenhower (The Real Estate Traine r) has a great one-page business plan. Also, for new real estate agents, FitSmallBusiness has a great re source and NAR has one as well.. Rev Real Estate School's Business Plan focuses closely on your database and meeting new people in order to accomplish your goals. 5 Real Estate Business Plan Examples & How to Create One? Real estate agent business plan example. A real estate agent business plan is a strategic document that outlines the operations and goals of a real estate agent or agency. It is a crucial tool for communicating with potential lenders, partners or shareholders about the nature of the business and its potential for profitability. ... Real Estate Agent Business Plan Template (2024) Real Estate Business Plan Example. Below are links to each section of your real estate agent business plan template: Executive Summary - The Executive Summary is the most important part of your business plan. It is a brief overview of your real estate agency, its products and services, niche market opportunity, and competitive advantage. Ultimate Guide: 11 Points to Writing a Real Estate Business Plan By regularly assessing performance and goal progress, businesses can ensure that they are making the most of their resources and achieving their desired results. Ultimately, a sound monitoring and evaluation plan are crucial for any real estate business that wants to stay ahead of the competition. 8. Risk Management. Real Estate Business Plan: Guide & Template (2024) The market size, measured by revenue, of the Real Estate Sales and brokerage industry, is $156.2bn in 2021, and the industry is expected to increase by 0.4% in 2021. Also, the market is changing at a rapid rate and the way people use spaces is changing at a rapid rate too. Hence, to get on or stay on the higher end of the spectrum you'll need ... Create a Real Estate Business Plan: Template, Tips & More May 25, 2021. A real estate agent business plan is a document that outlines your comprehensive strategy to grow your real estate business. It outlines important milestones of your approach, identifying what your goals are and how you will achieve them. Because of the nature of the real estate business, you can construct plans as a broker, agent ... How to create a real estate business plan 06. Financial plan. The average cost to start a real estate brokerage can range from $10,000 to $200,000, so odds are you will need to secure financing. The financial plan outlines your real estate business' financial projections, funding requirements and path to profitability. 10 Things Your Real Estate Business Plan Needs (FREE Template) A real estate agent business plan is essential for success in today's competitive market. It helps you set clear goals, define your vision, and outline the steps to achieve short-term and long-term objectives. As a real estate professional, having a well-crafted business plan can be the difference between being a top producer and struggling to... How to Create a Real Estate Business Plan That Works Commission threshold: The percentage the real estate agent pays the broker changes once they've passed an agreed-upon target. This is great motivation for agents and keeps real estate business profits growing. Flat-fee structure: The real estate agent keeps 100% of the commission but pays a regular flat fee to the brokerage. This is a better ... How to Write a Real Estate Agent Business Plan In this section of your real estate agent business plan, you want to outline what you intend to achieve in your real estate career. Your goals ought to be SMART (Specific, Measurable, Attainable, and Timely). Consider both your long-term and short-term goals. Your short-term goals should feed your long-term goals. 7. Real Estate Agency Business Plan [Sample Template for 2022] A Sample Real Estate Agency Business Plan Template. 1. Industry Overview. The real estate industry is one of the many industries that is a major contributor to the growth of the economy of many nations of the world. As a matter of fact, a real estate agent can become a millionaire 'overnight' from just one real estate deal; little wonder ... The 8 Steps in Creating a Real Estate Agent Business Plan Step 1: Define Your "Why" for your Real Estate Agent Business Plan. Your "why", or reason for creating this business and pursuing this career will be the foundation for how you run your business. Think of this as your mission and vision. Without this step, you risk losing a vision and purpose, which will in turn confuse and deter clients. How to write a business plan for a real estate agency? Creating a business plan for a real estate agency is an essential process for any entrepreneur. It serves as a roadmap that outlines the necessary steps to be taken to start or grow the business, the resources required, and the anticipated financial outcomes. It should be crafted with method and confidence. Compare Mortgage Rates and Loans View current mortgage rates from multiple lenders at realtor.com®. Compare the latest rates, loans, payments and fees for ARM and fixed-rate mortgages. 4395 Capstone Ct, Roswell, GA 30075 4395 Capstone Ct, Roswell, GA 30075 is pending. Zillow has 43 photos of this 4 beds, 4 baths, 3,300 Square Feet single family home with a list price of $1,059,900. Real estate liability coverage, deciphered Strategic protections real estate agents can take to mitigate risk. Skip to content. envelope. T: 513.793.1990; F: 513.792.8374 ... Financial strain and legal challenges can be disruptive to a real estate business in the event of a professional liability claim. Choosing the right professional liability insurance is a proactive measure that can ... Things To Do After Passing Your Real Estate Salesperson Exam Networking also leads to referrals. This is the bread and butter of real estate. 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Real Estate in the village Fryazevo in Elektrostal (Moscow oblast Cost of buying real estate (apartments and houses) in the village Fryazevo in Elektrostal (Moscow oblast). BDEEX USA. Real Estate in the village Elizavetino in Elektrostal (Moscow oblast Cost of buying real estate (apartments and houses) in the village Elizavetino in Elektrostal (Moscow oblast) in Australian dollars. BDEX Australia. FHFA Releases 1st Quarter 2024 Foreclosure Prevention and Refinance Washington, D.C. - The Federal Housing Finance Agency (FHFA) today released its first quarter 2024 Foreclosure Prevention and Refinance Report. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 52,154 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped to 6,957,884 since the start of conservatorships in ... Real estate in Elektrostal, Moscow Oblast, Russia RLT24 - information resource about Russian real estate. Real estate in Elektrostal, Moscow Oblast, Russia. Main Price analysis Advert: Русский(RU) Average apartments price in Russia Moscow : 4 234 $/m² ↓-1.96%: Saint Petersburg: 2 157 $/m² ↓-0. ... TV Realtor Josh Altman, bring Redy to Phoenix Co-founded by Josh Altman of TV's "Million Dollar Listing," Redy brings home sellers in Phoenix and four other U.S. markets a new way to list their properties. Phoenix-area homeowners now have a ... assignment essay homework paper phd report resume review speech