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Real Estate Business Planning for 2021

Posted By Paul Xumsai on December 27, 2020 in Career

Real Estate is your business. And all businesses big or small should have a concise plan for 2021. Here are five tips to setting your goals for the upcoming year.

1. Analyze your business in 2020. 

The most important part of running a business is to know your numbers. What were the biggest sources of your lead? What were your marketing expenses? And, what adjustments will you have to make?

Going into 2021, you should identify 4-6 lead sources that will work for you. As a real estate agent, you should concentrate on finding new lead sources daily. For new agents, focus on with people you know, such as your sphere of influences (workplace, place of worship, you community center, etc.). Use social media to your benefit.

2. Write your goals down, personal and professional.

Suze Orman says it best, “people first, then money, then things.”

You should prioritize your family life before all others. What are your personal goals and priorities? Then, work on your business plan.

Remember, you need to know your numbers! How much money do you want to make next year? How many appointments, listings, and sales will you need on a monthly, quarterly, and annual to achieve your financial goals?

3. Create a daily/weekly work schedule.

Make a work list and prioritize on activities that will produce income. Work on lead generation, lead follow-ups, appointments, contract writing, and closings. Utilize technologies like calendars, CRMs, and lead management to manage your efficiency.

4. Have a marketing plan for each of your lead sources. 

In the beginning, I recommended that you have 4-6 lead sources for attracting new businesses. More importantly, you should have a plan on managing those lead sources. Whether it’s farming, social media, or expired listings, you should have a plan of action.

5. Keep track of your personal and professional growth plans. 

Are things going as planned, personally and professionally? What’s working well for you? What needs to change?

Have a wonderful year.

 

 

Paul Xumsai

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