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Your Career is My Business!
A source of Current & Credible Real Estate Industry Information from a Proven Subject Matter Expert.
One of the biggest mistakes you can make as a real estate agent is viewing your career as a job when you should be viewing it as a business. By treating your career as a business, you will position yourself to go through the various stages of small business development, including creating a business plan and conducting a feasibility analysis.
Empirical data suggests that owners who draft a business plan grow their enterprise faster than those who do not; but the reality for most real estate agents is that they do not have time to create a business plan, and those who do usually don’t know where to begin. According to the United States Small Business Administration (SBA), there are typically eight sections in a business plan. In this article, I will condense those into four concise segments that can be articulated in two pages.
By answering the following four questions, you will glean vital information that will help you guide your day-to-day activities, form your business plan, meet your professional goals and ultimately sustain your real estate career for years to come.
Question 1: Short-term and long-term goals
What goals do you have for your business? Specifically, where do you want to be in one year, five years, 10 years? What steps do you need to take to meet these goals?
Question 2: Competitors
Who are your competitors? What advantages do you have over your competition?
Perhaps your main competitor is an experienced agent who has sold hundreds of homes.
As a new agent, I remember overcoming the objections of a prospective seller client by assuring her that because she was my only client, I would devote 100 percent of my time to promoting her listing.
No matter how bad the odds may seem, there is always something to offer your clients that sets you apart from your competition.
Question 3: Target client
Where do your potential clients currently live, work, exercise, shop, play, go to school, etc.?
Describe in detail your target client (think target market). Put aside the usual demographic data, and look at your answer from the perspective of the question above.
Establish a plan explaining how you will connect with these prospects.
Question 4: Communication
How will you communicate with your prospective clients?
Will you encounter prospects in person, online, both? What terms are you on: formal, informal, cordial, acquainted? Consider this part of your marketing outreach efforts.
Make a plan
Some things to keep in mind:
By answering these four simple prompts, you will be able to generate key information that you can use to create a streamlined business plan that is effective and strategic.
About the Author
Thank you for taking time out of your busy schedule to visit The Main Line School of Real Estate Blog! My name is Ayisha Sereni, and I am the Founder and President of The Main Line School of Real Estate. I serve as the primary contributor to this Blog, and I bring with me:
What to Expect
In this Blog, you can expect to find vital information related to your career as a Pennsylvania Real Estate Salesperson or Broker. Although our geographic focus is rooted in the affluent Philadelphia suburbs referred to as "The Main Line", our reach extends throughout the Commonwealth of Pennsylvania, as well as to practitioners across the United States.
My views rely on empirical, or verified data, that is derived from credible sources. As a Principal Investigator, I have received extensive training in research methods and apply these approaches to my everyday work in order to bring my students and followers quality information that is based on facts and not on unsubstantiated opinion.
Knowledge is Power
In 1597, Sir Francis Bacon wrote "ipsa scientia potestas est" which is Latin for "knowledge itself is power". A child of immigrants from Bosnia, I am the first person in my family to earn a college degree, and I consider myself extremely fortunate to have received a doctoral-level college education. I am dedicated to sharing my knowledge with others in a way that is unbiased, and informative, and can be used when exploring key life decisions such as embarking on a new Real Estate career or sustaining an existing Real Estate career. Sharing my knowledge in an unbiased and helpful manner is very gratifying and it helps me to instill a sense of civic responsibility within the Real Estate profession.
I hope that you enjoy my Blog and are able to glean useful information that will help to develop and sustain your Real Estate career!
All the best,
Ayisha E. Sereni
The Main Line School of Real Estate
"Your Career is My Business."
The Main Line School of Real Estate
175 Strafford Avenue - Suite One
Wayne, PA, 19087
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The Main Line School of Real Estate is a Pennsylvania Real Estate Commission Approved Education Provider License #RE001065 and an Affiliate Partner of the National Association of Realtors Center for Realtor Development® providing Realtors® highly regarded Industry Certifications and Designations.