Free Real Estate Business Plan Template
Let Corefact help you become the best agent in town. Below is a free business plan for you to use. Use this free content to make sure you're prepared for the upcoming year.
If You Don't Know Where You're Going, How Will You Get There?
Do not confuse a business plan with a goal. Any real estate agent can set a goal, but only top producers and true real estate professionals create and use a good real estate business plan.
A business plan is the road map that calculates how many transactions you must close, your total overhead cost per transaction, and how many activities you must complete before attaining your income goal. Here's a simple way to get started.
Begin by determining your average sales price for the previous year and your average amount of commission. Next, determine how much you would like to make and then divide that by your average commission to see how many transactions you will have to close to hit that goal.
- How long have you been in the business?
- Average sales price?
- Average Commission?
- How many transactions?
- How did you get that business?
Implement your plan, but be sure to review it each month to see if you're on course. Make adjustments if necessary, and do whatever it takes to hit the production goals you set.
Click on the preview below to download your free business plan template.
This free business plan template covers it all by outlining your financial and prospecting goals to planning this year's budget.
Calculating the Numbers
Review how many appointments you went on, how many converted into signed business, and how many actually closed. Knowing your closing ratios (i.e., how many contacts it takes to produce a lead, how many leads are required to place a property under a contract, and how many properties actually closed after being placed under contract) will allow you to determine how many people you must contact daily to close the number of transactions you set as your goal.
Evaluate the number of leads from each of your marketing activities: geographical farming, Web marketing, referrals, relocation, expired listings, etc. Then, determine which activities are the biggest moneymakers and devote more of your time to these profitable activities. Make this determination after calculating your revenues, expenses, and net profits.
For example, selling four $300,000 houses may take less time and marketing costs than selling a single home for $1.2 million. Your plan should include how to expand these two or three key niches rather than using a shotgun approach that tries to service the needs of every client you encounter. Focus your business on what worked and eliminate activities that had poor results.
After your business plan is set, you'll need to create a marketing plan to achieve your business goals. Here's a good source for helping you with your marketing plan.
Creating a marketing plan doesn't have to be complicated. Download our free marketing calendar.
Use this marketing plan to plan for the year ahead.
- How many transactions do you need to close
- Total overhead cost per transaction
- Breakdown to achieve your income goal
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