The right time to do a business plan for the year ahead is the October-November the year before. This way you are off to the races come January 1st. If you didn’t manage to get to this last year, you’ll want this to be your first priority in the new year.
For many brokers, writing a business plan can easily fall through the cracks while chasing leads, driving closings, recruiting agents, training staff, paying bills or any of the hundred other things that consume the day of a busy broker. The problem is that without it, you meander without purpose and can easily waste a lot of time on the wrong things, instead of being driven by a focused, well thought out plan of attack designed to achieve specific results. Key Parts of Your Real Estate Brokerage Business PlanThere are many templates and formats you can choose for a business plan. Weichert for instance, has guidelines to follow along with business coaches who help you and hold you accountable for completing it. At the end of the day though, the template you use is less important than the thought process that goes into it. Here are a few things you will want to cover in your business plan.
Make sure your plan is something that can be executed within your available resources. 4. Recruiting Plan – Key to achieving your growth goals will be your recruiting plan. Your financial growth goals will translate directly into recruiting goals and without a specific and consistent plan for this we can tell you from experience that it won’t get done. In your recruiting plan be sure to specify the number of recruits you need to bring in each month and the activities you need to complete to get them in the door. Also make sure you have a plan to train new agents and get them productive as soon as possible. Weichert for instance provides its Fast Track training for new agents which is specifically designed to bring them up to speed fast on proven tactics and systems that allow them to generate income quickly. Brokers love Fast Track as well, because it removes much of the burden of new agent training from their shoulders. There are many other elements in a good brokerage business plan but the most important element is to sit down and do it! Once you have done it once, then updating it every year and managing it throughout the year, is much easier and will help you adjust your activities when you go off course. It’s better to know right away that you haven’t met your recruiting or listings goals than to be surprised at the end of the year when it’s too late to do anything about it. And if you feel that you could benefit from expert advice and a business coach to support you every step of the way on your path to growth, then consider talking to the Weichert franchise team today. Go to weichertfranchise.com or call 877-567-3350. Original content posted on https://www.weichertfranchise.com/blog/is-your-business-plan-in-place-to-rock-the-new-year/
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