Download the Facebook marketing ideas guide:
Don’t look now, but we’re rapidly approaching the halfway mark of 2019. This is the point where smart small business owners take a look at their 2019 real estate business plan to gauge where they stand so far this year.
And everybody knows that real estate professionals are smart, so let’s dive in to what to look for and how you can get back on track or tweak your goals.
You do have a 2019 real estate business plan, right?
I am a long-time resident of Las Vegas. Now, this doesn’t make me an ace prognosticator. If it did, I’d be at the nearest sport’s book and not here on Easy Agent Pro.
I’d probably also be in the news, because I would be the expert at picking the winners at Santa Anita.
Alas I am but a writer. But, what I see, when I dare to brave The Strip, is a bunch of idiots who have no plan and assume the house doesn’t have the best odds.
They lose. And, some of them lose big.
Everyone needs a plan. Whether it’s for when you’ll walk away from the poker table or for next year’s garden (that would be me), how you’ll keep your marriage alive or how to ensure you’re still in business in 2020, planning in every phase of life is essential.
If you didn’t create a 2019 real estate business plan, do it now. Easy Agent Pro offers a simplified (one-page) version for free. Download it here.
Keep it on post-it notes stuck to the wall in front of your desk, on an Excel spreadsheet or in a business plan template, but, please, create a business plan.
We want to see you here next year and the year after.
Where are you right now?
Take a look at what you’re doing right now, what parts of your 2019 real estate business plan could use increased focus and where you should be putting more time and energy. If you need to rework parts of your business plan, the NAR has some tips to make the process easier.
Start with the number of transactions you assumed you’d need to hit your financial goals. How close are you to meeting that goal? If you think it’s still attainable by the end of the year, good on you.
If you’re way off the mark, however, you’ll need to either adjust your goal downward (and adjust your marketing budget accordingly), or double down on ways to drum up more business.
Are you on budget?
Look at your budget to ensure that you’re not spending more than you’re bringing in. If you are off on your goals, you’re most likely not making as much as you’d hoped.
Make cuts in areas of your business that don’t impact your lead generation efforts. It’s going to take marketing to get those leads, so make your cuts in the less critical parts of your budget.
How many more real estate leads do you need this year?
If your mid-year situation is looking a bit dire, there’s only one thing to do: Generate more leads. How many more you’ll need depends on your income goals.
Head over to Easy Agent Pro’s Real Estate Salary Calculator to find out how many leads you’ll need to generate to close the number of deals required to hit your earnings goal.
I know, the word “salary” really doesn’t apply to agents, so pretend the title of the calculator is “Real Estate Agent Income Calculator.”
At any rate, you now know how many leads to generate between now and the end of the year. If you’ve slacked off a bit since the beginning of the year, you’ll probably feel intimidated by the number.
But don’t let that stop you. Double down on the marketing efforts that have been paying off and set aside those that aren’t bringing in business.
If you’re completely stumped as to your next move, head over to Easy Agent Pro’s Beat Zillow Facebook group and ask for advice from other agents. It’s a sharing kind of group and the members are always willing to chime in with advice.
Your mid-year 2019 real estate business plan
The 2019 real estate business plan we wrote at the beginning of the year was set through a “I have plenty of time to get this done” lens.
At this point, time is of the essence, so disregard those broad goals you set in December or January. It’s time to get specific and put yourself on a daily schedule.
Instead of pursuing what’s left of those 200 leads required in your new year plan, drill down to how many you’ll need each week.
“Get three listings and three buyers by June 1” is a lot less intimidating than pursuing your annual goal.
In the end, you’ll be glad you performed a mid-year business review. It sure beats finding out next December that you aren’t going to meet your goals, right?
Looking for some fresh ideas? Here are 200 ways to dominate in your market.
Get more closings with this real estate business plan: