REAL ESTATE BUSINESS PLAN

Transcription

1 Your logo here (transparent.pn g) R E M C A M P D AY M A R K E T I N G M A K E O V E R REAL ESTATE BUSINESS PLAN

2 Business Plan Resources In addition to the PDF version of this business plan you can download and customize a copy of the editable documents by joining REMCamp at : Ø Video Tutorial Ø PowerPoint Slides Ø Business Plan Worksheet, including a budget, SWOT Analysis, Goal Planner and Production Audit (excel) Ø Business Plan Guide (word) Members can access the documents at:

3 Index Strategic Principles About You, Your Business & Your Broker Your Client & Business Demographics Your Specialization

4 Index Your Core Values Audit Your 2014 Business Your Goals Commit to Review

5 Write down what you want from your real estate business and in your life. Is it money? Retirement? Travel? Security? There is no right or wrong answer, just write it down right here. REMCamp Real Estate Business Plan Add Your Company Name Here 5

6 Add Your Own Quote Below! Why are you trying so hard to fit in when you were born to stand out? - What a Girl Wants Add an Image of the Person You Admire and Respect

7 MY RETIREMENT LOOKS LIKE THIS! Visualize what your life will look like at the end of your career. Then find an image that represents your retirement and add it here!

8 Strategic Principles Passion If you re not passionate about real estate you need to mimic the actions of passionate competitors. Policy Immediately start a Policy and Procedures Manual. Write down every client FAQ and turn your answers into your policy document. Perfection Get the most from your current business by creating optimized operating systems. Once your business is perfect add additional lead sources. Pipeline Don t run around like a headless chicken living from deal to deal. Rather build a pipeline of prospects that you can tap into at any time for new business. Preeminence Commit to serving your client in a selfless and honest manner and put your client s needs above your own needs.

9 This may sound trite but you need to write down your name. You obviously know yourself but you need to write down your name so you can develop a consistent identity. You need to make sure you use exactly the same name through out your marketing platform. Google may think that Robert Smith (you), Bob Smith (your nickname), Robert Smith Realtor (your tagline) and the Robert Smith Team (your business) are four different people. The goal is to pick one name and brand and stick with it through out your marketing. Your Name: REMCamp Real Estate Business Plan Add Your Company Name Here 9

10 Structure Corporate Your corporate structure needs to protect you against personal legal liability. I can t give you tax advice but my accountant advised me to set up a S Corp J Tax Your tax structure needs to protect you against paying too much tax, including potentially double taxation. Sole Proprietor LLC Inc. - S Corp. - C Corp. Self Employment Social Security Pass Through Structure Double Taxation

11 Business Structure Don t Get Sued Don t Pay Too Much Tax

12 About You Towns Town 1 Town 2 Town 3 Town 4 Town 5 Other You need to clearly identify your marketing areas! At REMCamp our focus is to start hyper local at the neighborhood level. Neighborhoods Neighborhood 1 Neighborhood 2 Neighborhood 3 Neighborhood 4 Neighborhood 5 Neighborhood 6 Neighborhood 7 Neighborhood 8 Neighborhood 9 Neighborhood 10 Other

13 About You Social Profiles Facebook Facebook Page Facebook Group LinkedIn LinkedIn Page Twitter Google Plus You Tube Pinterest Instagram Next Door Houzz Bigger Pockets Activerain Write down all your social profiles as you will integrate them into your overall marketing plan. Write down all the domains you own. Domains Domain 1 Domain 2 Domain 3 Domain 4 Domain 5 Domain 6 Domain 7 Domain 8 Domain 9 Domain 1 Other

14 At REMCamp we promote 5 essential tools that every real estate business needs to build and manage your online or digital marketing platform. Write down your tools below: Tool 1 Manager Tool 2 Blog (Website) Tool 4 Landing Page Tool 5 Graphics Tool 5 - CRM REMCamp Real Estate Business Plan Add Your Company Name Here 14

15 Your Team Core Team Assistant Tele-canvasser Buyer Agent Graphic Designer Photographer Videographer Bookkeeper Attorney Insurance Agent Financial Advisor You need to build your team. They don t need to be employed by you and can be contractors or vendors! Real Estate Services Showing Desk Home Stager Handyman Home Improver Mortgage Broker Insurance Broker Title Agent Attorney Home Inspector Other Other

16 Demographics You need to clearly understand your client demographics and tailor your content to those demographics. Client Gender Age Marital Status Family Size Income Profession Education Interests Client Life Cycle Student Single Professional Engaged Young Family Professional Empty Nester Downsizer

17 Demographics You need to clearly identify the type of property that you sell and then become an expert in that property type. Property Type Land New Construction Apartment Condo Single Family Luxury Home Vacation Home Investment Rental Other

18 Your Specialization What will be your specialization whereby you become the dominant expert in your niche? Think about the example of a medical doctor. All doctors go to school for years but specialists, like brain surgeons, command much higher fees than a general family practitioner. Real estate follows the same practice of rewarding specialists.

19 My Core Values Integrity and Honesty Commitment to Excellence Unsurpassed local real estate knowledge Unsurpassed customer service

20 My Core Values Immediate response and feed back Loyalty to clients Commitment to community service Co-operate with other agents

21 Mission Statement Write Out Your Mission Statement: (Why are you in the real estate business?)

22 Brand Statement How do you want your brand to be perceived in the market?

23 USP What is your Unique Selling Point (USP)? Why should clients work with you instead of any other Realtor? Take a look at the next slide to see a model USP Statement.

24 My USP You will sell, buy or rent a home, Guaranteed! You will do so quickly and painlessly, Guaranteed! You will get the best price, Guaranteed! * How will you guarantee your USP?

25 So you want to sell your home, quickly and for top dollar I can help with that!

26 SWOT ANALYSIS Strengths Weaknesses Opportunity Threats

27 2014 AUDIT You need to understand how much business you closed last year, exactly where it came from and then use that information to benchmark your performance this year. How Much Business Did You Close in 2014? 2014 Revenue 2014 Commission 2014 Sales Sides # Listings # Buyer Agency # Referrals Sent AVG Sales Price AVG Comm Rate AVG Revenue per Sale # Referrals Received # of Leads Generated * Editable Excel Spreadsheet available at

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29 2014 AUDIT Where did your business come from? Add a percentage for each channel. Referral Repeat Customer Sphere Professional Assoc Yard Sign Open House Floor Call Direct Mail Cold Calling Online Marketing Other REMCamp focuses on digital or online marketing so it s interesting to see what percentage of your business you get from online marketing. In the next next slides we ll break down all the online marketing channels.

30 2014 AUDIT Where did your business come from? Add a percentage for each channel. Systems - Expired - FSBO - REO - Short Sale - New Home - Investor - Relocation - Other

31 2014 AUDIT Where did your online business come from? Website - Inbound Call - Contact Form - IDX - Report Download - Newsletter - Instant Chat Blog Comment Landing Pages Search Engine Other Blog - Inbound Call - Contact Form - IDX - Report Download - Newsletter - Instant Chat Blog Comment Landing Pages Search Engine Other

32 2014 AUDIT Where did your online business come from? Social - Facebook - LinkedIn - Twitter - Pinterest - Google Plus - Next Door - Other Search - Google - SEO - PPC - Retargeting

33 2014 AUDIT Where did your online business come from? Ads - Zillow - Trulia - Realtor.com - Craigslist - Facebook - Online Classified - Other Leads - Tiger Leads - Boom Town - Referral Exchange - Other

34 2014 AUDIT Where did your online business come from? Mobile - IVR - SMS - Voice Broadcast - Mobile Ads Video Vlogging Video Ads - You Tube - Vine - Instagram - Other

35 Your Goals for 2015 This is where we pull your business plan together and write out your goals for the next: Quarter (focus on actions and not just numbers) Year (cold hard numbers) Five Years (cold hard numbers) Start by visualizing your retirement again it helps! (see next slide)

36 MY RETIREMENT LOOKS LIKE THIS! Visualize what your life will look like at the end of your career. Then find an image that represents your retirement and add it here!

37 Quarterly Goals Total Revenue Total Commission Total Sales Sides # Listings # Buyer Agency # Referrals Sent AVG Sales Price AVG Comm Rate AVG Revenue per Sale Referrals Received Leads Generated

38 My Quarterly Goals for 2015 Build a local real estate database Build a contact list for every local resident Hire a Buyer s Agent Reinvest 25% of commission into Zillow ads

39 My Quarterly Goals for 2014 Start a neighborhood blog Shoot neighborhood videos Start using an manager Commit to a CRM system

40 Annual Goals Total Revenue Total Commission Total Sales Sides # Listings # Buyer Agency # Referrals Sent AVG Sales Price AVG Comm Rate AVG Revenue per Sale Referrals Received Leads Generated

41 5-Year Goals Total Revenue Total Commission Total Sales Sides # Listings # Buyer Agency # Referrals Sent AVG Sales Price AVG Comm Rate AVG Revenue per Sale Referrals Leads

42 Next Quarterly Review BOSTON, MA June 22, 2015 Add to Your Calendar

43 BY AUTHOR Insert Your Picture

44 AND YOU RE DONE! Congratulations on writing out your Business Plan. Now make sure you print it out or upload it to your smartphone so you can view it anytime, anywhere. Then make sure you review it every quarter. Book out the time and spend at least an hour understanding your business and where you want to be the next quarter, year and five years from now! REMCamp members can download the editable slides, worksheets and guide at: