Real Estate Agent Business Plan | PDF | Word | RTF
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A Real Estate Agent Business Plan is a set of documents meant to focus an agent’s efforts in the market and, at times, a way to convince investors to put money into an individual agent’s business. Many think that a business plan may be for larger firms but the fact is, anyone who runs a business including a single real estate agent must have a good business plan to survive and succeed in today’s market.
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How to Write a Real Estate Agent Business Plan
When developing this plan an individual must deliberately set specific goals for their business and draw up a definitive means to achieve them. This can give quite an edge in a market which is known to fluctuate. In order to prepare this plan, an agent must have a positive attitude, be organized and have accurate information at his/her disposal. There are no shortcuts to writing this plan and due to its importance to one’s future business one must be willing to put in a considerable amount of time and effort into developing one.
There is some flexibility to the format and presentation of a business plan but several sections are expected to be seen. The first is the Mission Statement. This is a description of what the agent wants his/her company to achieve. It should be specific but also brief.
The next section is the Company Overview. This should give a professional background of the agent, or if he/she is just starting out, an educational background, his or her standing in the market, and the type of business they are running. The Mission Statement and Company Overview are meant to fit nicely together in delivering the state of affairs, history, and goals of the agent. This will act as a foundation for the next sections.
The Marketing Plan will answer a variety of questions ranging from how the agent plans on acquiring contracts and clients as well as the financial projections of the company and the budget for its marketing plan. At times, some sections in the marketing plan may be in the business plan instead. For instance one may prefer a SWOT analysis or Competition Analysis to be separate sections while using the marketing plan strictly to outline the implementation of the agent’s strategies to reach new clients. The top priority is that the business plan is polished, attractive, easy to understand, and is very accurate.
The Finance section which is typically the final section will give information regarding the finances of the company in no uncertain terms. It may contain such information as a projected cash flows, projected balance sheets, and business ratios. This is meant to give a clear image of the present state of the company and extrapolate, from fact, its potential future.
It is important to note that while any part of this plan can assume any media form the developer believes is appropriate, there should always be a written copy which can be referred to and edited as necessary. Finally, some sections may not directly relate to a Business Plan should be included as well. In addition to the table of contents, a conscientious agent will ensure that the business plan should also be accompanied with a Cover Letter (this is especially important for an individual agent), an Executive summary and a Non-Disclosure Agreement.
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