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Starting Your Real Estate Business Plan For 2019

Starting Your Real Estate Business Plan for 2019

It’s hard to believe that it’s already August and this year will be wrapping up in four short months. Maybe it’s the kids, maybe it’s the job or maybe it’s just time that moves much faster for me now that I’m older.

In today’s world, it’s not unusual for us to be distracted by what’s next. I know that we are continually reminded by thought leaders to be “present in the moment” and “live for the now” but as a business owner I can’t help but plan for our future. By no means does our foresight compromise the attention we give our clients. In fact, it’s the process of constant evaluation, review, and amendment that serves as the basis for our future planning.

Tru Realty is on a trajectory to be one of the fastest growing Phoenix real estate brokerages. From its very inception, this brokerage was built on a solid premise of excellence with strategic planning serving as the catalyst for growth.

It’s imperative for us to look beyond our current deal flow to what is necessary to ensure growth in both numbers and improvement in customer service.

This is our business plan and we’re committed to executing it.

When To Do Your Real Estate Business Plan

Developing a business plan is a vital component to success in a highly competitive and potentially volatile real estate market. Many brokerages suggest to their agents that they should look at developing or amending your real estate business plan after the holiday season.

I don’t agree.

At Tru Realty, we begin to plan our upcoming year’s business plan before the last quarter of the current year starts. That’s also known as now. This provides us with ample time to address last year’s goals, assess this upcoming year’s goals, and properly lay out a successful real estate business plan for the year to come.

What Goes Into Your Real Estate Business Plan

If you are a veteran Phoenix real estate agent, you should first do a recap of your previous year. First, find the answers to these questions:

“How much did I make?
“Am I happy with these results?”
“What marketing strategies did I use? How did they perform?”

Now everyone should put together what I like to call their “big, hairy, audacious financial goals” and how we can improve these in the upcoming year. This needs to be an attainable number, but one that should also challenge us to push harder as we approach the coming new year.

Next is identifying the biggest time-consuming objectives that we must accomplish to be successful. For a brokerage, these could be big things like grading our lead database, hiring/training an office assistant, or developing a better lead gen process.

Lastly, we focus on priority tasking. Our real estate business plan forces us to be very granular when looking at what we can accomplish in a given day. This could be how many calls did you make that day, how many buyer’s presentations did you have, how many listing presentations did you perform, or even how much time and money should you be spending on your marketing efforts?

While we do continually talk about planning for the future, a deep look at our day-to-day operations gives us an insight to how the compounding effects of tiny tasks build into a successful, thriving career in real estate.

If you’re interested in learning more or if you need help in getting your real estate business plan in order, use the information below to get in contact with me.


About the Author

Sarah C. Richardson is one of the preeminent leaders of residential real estate in Arizona. As the CEO and founder of Tru Realty, she is responsible for both the daily operations and oversight of the multiple growth strategies that the brokerage carries out. Sarah launched Tru Realty in 2010 as a way to serve a marketplace that was seeing a shift from auction centric fix/flips to an MLS flow. She is now rethinking the way her brokerage uses technology to better serve clients and agents alike.

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