new realtor business plan

• REALTOR® Store

• Fostering Consumer-Friendly Real Estate Marketplaces Local broker marketplaces ensure equity and transparency.  Close
• Social Media
• Sales Tips & Techniques
• MLS & Online Listings
• Starting Your Career
• Being a Broker
• Being an Agent
• Condominiums
• Smart Growth
• Vacation, Resort, & 2nd Homes
• FHA Programs
• Home Inspections
• Arbitration & Dispute Resolution
• Fair Housing

• All Membership Benefits
• NAR REALTOR Benefits® Bringing you savings and unique offers on products and services just for REALTORS®. Close
• Directories Complete listing of state and local associations, MLSs, members, and more. Close
• Dues Information & Payment
• Become a Member As a member, you are the voice for NAR – it is your association and it exists to help you succeed. Close
• Logos and Trademark Rules Only members of NAR can call themselves a REALTOR®. Learn how to properly use the logo and terms. Close
• Your Membership Account Review your membership preferences and Code of Ethics training status. Close

• Highlights & News Get the latest top line research, news, and popular reports. Close
• Housing Statistics National, regional, and metro-market level housing statistics where data is available. Close
• Research Reports Research on a wide range of topics of interest to real estate practitioners. Close
• Presentation Slides Access recent presentations from NAR economists and researchers. Close
• State & Metro Area Data Affordability, economic, and buyer & seller profile data for areas in which you live and work. Close
• Commercial Research Analysis of commercial market sectors and commercial-focused issues and trends. Close
• Statistical News Release Schedule

• Advocacy Issues & News
• Federal Advocacy From its building located steps away from the U.S. Capitol, NAR advocates for you. Close
• REALTORS® Political Action Committee (RPAC) Promoting the election of pro-REALTOR® candidates across the United States. Close
• State & Local Advocacy Resources to foster and harness the grassroots strength of the REALTOR® Party. Close
• REALTOR® Party A powerful alliance working to protect and promote homeownership and property investment. Close
• Get Involved Now more than ever, it is critical for REALTORS® across America to come together and speak with one voice. Close

• All Education & Professional Development
• All NAR & Affiliate Courses Continuing education and specialty knowledge can help boost your salary and client base. Close
• Code of Ethics Training Fulfill your COE training requirement with free courses for new and existing members. Close
• Continuing Education (CE) Meet the continuing education (CE) requirement in state(s) where you hold a license. Close
• Designations & Certifications Acknowledging experience and expertise in various real estate specialties, awarded by NAR and its affiliates. Close
• Library & Archives Offering research services and thousands of print and digital resources. Close
• Commitment to Excellence (C2EX) Empowers REALTORS® to evaluate, enhance and showcase their highest levels of professionalism. Close
• NAR Academy at Columbia College Academic opportunities for certificates, associates, bachelor’s, and master’s degrees. Close

• Latest News
• NAR Newsroom Official news releases from NAR. Close
• REALTOR® Magazine Advancing best practices, bringing insight to trends, and providing timely decision-making tools. Close
• Blogs Commentary from NAR experts on technology, staging, placemaking, and real estate trends. Close
• Newsletters Stay informed on the most important real estate business news and business specialty updates. Close
• NAR NXT, The REALTOR® Experience
• REALTORS® Legislative Meetings
• AE Institute
• Leadership Week
• Sustainability Summit

• Mission, Vision, and Diversity & Inclusion
• Code of Ethics
• Leadership & Staff National, state & local leadership, staff directories, leadership opportunities, and more. Close
• Committee & Liaisons
• History Founded as the National Association of Real Estate Exchanges in 1908. Close
• Affiliated Organizations
• Strategic Plan NAR’s operating values, long-term goals, and DEI strategic plan. Close
• Governing Documents Code of Ethics, NAR's Constitution & Bylaws, and model bylaws for state & local associations. Close
• Awards & Grants Member recognition and special funding, including the REALTORS® Relief Foundation. Close
• NAR's Consumer Outreach

• Find a Member
• Browse All Directories
• Find an Office
• Find an Association
• NAR Group and Team Directory
• Committees and Directors
• Association Executive
• State & Local Volunteer Leader
• Buyer's Rep
• Senior Market
• Short Sales & Foreclosures
• Infographics
• First-Time Buyer
• Window to the Law
• Next Up: Commercial
• New AE Webinar & Video Series
• Drive With NAR
• Real Estate Today
• Center for REALTOR® Development
• Leading with Diversity
• Good Neighbor
• NAR HR Solutions
• Fostering Consumer-Friendly Real Estate Marketplaces Local broker marketplaces ensure equity and transparency. 
• Marketing Social Media Sales Tips & Techniques MLS & Online Listings View More
• Being a Real Estate Professional Starting Your Career Being a Broker Being an Agent View More
• Residential Real Estate Condominiums Smart Growth Vacation, Resort, & 2nd Homes FHA Programs View More Home Inspections
• Legal Arbitration & Dispute Resolution Fair Housing Copyright View More
• Commercial Real Estate
• Right Tools, Right Now
• NAR REALTOR Benefits® Bringing you savings and unique offers on products and services just for REALTORS®.
• Directories Complete listing of state and local associations, MLSs, members, and more.
• Become a Member As a member, you are the voice for NAR – it is your association and it exists to help you succeed.
• Logos and Trademark Rules Only members of NAR can call themselves a REALTOR®. Learn how to properly use the logo and terms.
• Your Membership Account Review your membership preferences and Code of Ethics training status.
• Highlights & News Get the latest top line research, news, and popular reports.
• Housing Statistics National, regional, and metro-market level housing statistics where data is available.
• Research Reports Research on a wide range of topics of interest to real estate practitioners.
• Presentation Slides Access recent presentations from NAR economists and researchers.
• State & Metro Area Data Affordability, economic, and buyer & seller profile data for areas in which you live and work.
• Commercial Research Analysis of commercial market sectors and commercial-focused issues and trends.
• Federal Advocacy From its building located steps away from the U.S. Capitol, NAR advocates for you.
• REALTORS® Political Action Committee (RPAC) Promoting the election of pro-REALTOR® candidates across the United States.
• State & Local Advocacy Resources to foster and harness the grassroots strength of the REALTOR® Party.
• REALTOR® Party A powerful alliance working to protect and promote homeownership and property investment.
• Get Involved Now more than ever, it is critical for REALTORS® across America to come together and speak with one voice.
• All NAR & Affiliate Courses Continuing education and specialty knowledge can help boost your salary and client base.
• Code of Ethics Training Fulfill your COE training requirement with free courses for new and existing members.
• Continuing Education (CE) Meet the continuing education (CE) requirement in state(s) where you hold a license.
• Designations & Certifications Acknowledging experience and expertise in various real estate specialties, awarded by NAR and its affiliates.
• Library & Archives Offering research services and thousands of print and digital resources.
• Commitment to Excellence (C2EX) Empowers REALTORS® to evaluate, enhance and showcase their highest levels of professionalism.
• NAR Academy at Columbia College Academic opportunities for certificates, associates, bachelor’s, and master’s degrees.
• NAR Newsroom Official news releases from NAR.
• REALTOR® Magazine Advancing best practices, bringing insight to trends, and providing timely decision-making tools.
• Blogs Commentary from NAR experts on technology, staging, placemaking, and real estate trends.
• Newsletters Stay informed on the most important real estate business news and business specialty updates.
• Leadership & Staff National, state & local leadership, staff directories, leadership opportunities, and more.
• History Founded as the National Association of Real Estate Exchanges in 1908.
• Strategic Plan NAR’s operating values, long-term goals, and DEI strategic plan.
• Governing Documents Code of Ethics, NAR's Constitution & Bylaws, and model bylaws for state & local associations.
• Awards & Grants Member recognition and special funding, including the REALTORS® Relief Foundation.
• Top Directories Find a Member Browse All Directories Find an Office Find an Association NAR Group and Team Directory Committees and Directors
• By Role Broker Association Executive New Member Student Appraiser State & Local Volunteer Leader
• By Specialty Commercial Global Buyer's Rep Senior Market Short Sales & Foreclosures Land Green
• Multimedia Infographics Videos Quizzes
• Video Series First-Time Buyer Level Up Window to the Law Next Up: Commercial New AE Webinar & Video Series
• Podcasts Drive With NAR Real Estate Today Center for REALTOR® Development
• Programs Fair Housing Safety Leading with Diversity Good Neighbor NAR HR Solutions
• Writing a Business Plan

Writing a business plan may seem a daunting task as there are so many moving parts and concepts to address. Take it one step at a time and be sure to schedule regular review (quarterly, semi-annually, or annually) of your plan to be sure you on are track to meet your goals.

Why Write a Business Plan?

Making a business plan creates the foundation for your business. It provides an easy-to-understand framework and allows you to navigate the unexpected.

Quick Takeaways

• A good business plan not only creates a road map for your business, but helps you work through your goals and get them on paper
• Business plans come in many formats and contain many sections, but even the most basic should include a mission and vision statement, marketing plans, and a proposed management structure
• Business plans can help you get investors and new business partners

Source: Write Your Business Plan: United States Small Business Association

Writing a business plan is imperative to getting your business of the ground. While every plan is different – and most likely depends on the type and size of your business – there are some basic elements you don’t want to ignore.

Latest on this topic

NAR Library & Archives has already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles ( E ) are available only to NAR members and require the member's nar.realtor login.

Defining Your Mis​sion & Vision

Writing a business plan begins by defining your business’s mission and vision statement. Though creating such a statement may seem like fluff, it is an important exercise. The mission and vision statement sets the foundation upon which to launch your business. It is difficult to move forward successfully without first defining your business and the ideals under which your business operates. A company description should be included as a part of the mission and vision statement. Some questions you should ask yourself include: 

• What type of real estate do you sell?
• Where is your business located?
• Who founded your business?
• What sets your business apart from your competitors?

What is a Vision Statement ( Business News Daily , Feb. 21, 2023)

How to Write a Mission Statement ( The Balance , Jan. 2, 2020)

How to Write a Mission Statement ( Janel M. Radtke , 1998)

Using a SWOT Analysis to Structure Your Business Plan

Once you’ve created a mission and vision statement, the next step is to develop a SWOT analysis. SWOT stands for “Strengths, Weaknesses, Opportunities, and Threats.” It is difficult to set goals for your business without first enumerating your business’s strengths and weaknesses, and the strengths and weaknesses of your competitors. Evaluate by using the following questions:

• Do you offer superior customer service as compared with your competitors?
• Do you specialize in a niche market? What experiences do you have that set you apart from your competitors?
• What are your competitors’ strengths?
• Where do you see the market already saturated, and where are there opportunities for expansion and growth?

Strength, Weakness, Opportunity, and Threat (SWOT) ( Investopedia , Apr. 21, 2023)

How to Conduct a SWOT Analysis for Your Small Business ( SCORE , Apr. 28, 2022)

SWOT Analysis Toolbox ( University of Washington )

Setting ​Business Goals

Next, translate your mission and vision into tangible goals. For instance, if your mission statement is to make every client feel like your most important client, think about the following:

• How specifically will you implement this?
• Do you want to grow your business?
• Is this growth measured by gross revenue, profit, personnel, or physical office space?
• How much growth do you aim for annually?
• What specific targets will you strive to hit annually in the next few years?

What are Business Goals? Definition, How To Set Business Goals and Examples ( Indeed , Mar. 10, 2023)

Planning and Goal Setting for Small Business ( U.S. Small Business Administration )

• Regular work goals.
• Problem-solving goals.
• Innovative goals.
• Development goals

Establishing a Format

Most businesses either follow a traditional business plan format or a lean startup plan.

Traditional Business Plan

A traditional business plan is detailed and comprehensive. Writing this business plan takes more time. A traditional business plan typically contains the following elements:

• Executive Summary
• Company description
• Market analysis
• Organization and management
• Service or product line
• Marketing and sales
• Funding request
• Financial projections

Lean Startup Plan

A lean startup plan requires high-level focus but is easier to write, with an emphasis on key elements. A lean startup plan typically contains the following elements:

• Key partnerships
• Key activities
• Key resources
• Value proposition
• Customer relationships
• Customer segments
• Cost structure
• Revenue stream

Creating a Marketing Plan

You may wish to create a marketing plan as either a section of your business plan or as an addendum. The Marketing Mix concerns product , price , place and promotion .

• What is your product?
• How does your price distinguish you from your competitors—is it industry average, upper quartile, or lower quartile?
• How does your pricing strategy benefit your clients?
• How and where will you promote your services?
• What types of promotions will you advertise?
• Will you ask clients for referrals or use coupons?
• Which channels will you use to place your marketing message?

Your Guide to Creating a Small Business Marketing Plan ( Business.com , Mar. 22, 2023)

10 Questions You Need to Answer to Create a Powerful Marketing Plan ( The Balance , Jan. 16, 2020)

Developing a Marketing Plan ( Federal Deposit Insurance Corporation )

Forming a Team

Ensuring the cooperation of all colleagues, supervisors, and supervisees involved in your plan is another important element to consider. Some questions to consider are:

• Is your business plan’s success contingent upon the cooperation of your colleagues?
• If so, what specifically do you need them to do?
• How will you evaluate their participation?
• Are they on-board with the role you have assigned them?
• How will you get “buy in” from these individuals?

How to Start a Rock-Solid Real Estate Team ( The Close , May 26, 2020)

Don’t Start a Real Estate Team Without Asking Yourself These 8 Questions ( Homelight , Jan. 21, 2020)

Implementing a Business Plan and Reviewing Regularly

Implementation and follow-up are frequently overlooked aspects to the business plan, yet vital to the success of the plan. Set dates (annually, semi-annually, quarterly, or monthly) to review your business plans goals. Consider the following while reviewing:

• Are you on track?
• Are the goals reasonable to achieve, impossible, or too easy?
• How do you measure success—is it by revenue, profit, or number of transactions?

And lastly, think about overall goals.

• How do you plan to implement your business plan’s goals?
• When will you review and refine your business plan goals?
• What process will you use to review your goals?
• What types of quantitative and qualitative data will you collect and use to measure your success?

These items are only a few sections of a business plan. Depending on your business, you may want to include additional sections in your plan such as a:

• Cover letter stating the reasoning behind developing a business plan
• Non-disclosure statement
• Table of contents

How To Write a Business Proposal Letter (With Examples) ( Indeed , Mar. 10, 2023)

How To Implement Your Business Plan Objectives ( The Balance , Aug. 19, 2022)

The Bottom Line

Creating a business plan may seem daunting, but by understanding your business and market fully, you can create a plan that generates success (however you choose to define it).

Real Estate Business Plans – Samples, Instructional Guides, and Templates

9 Steps to Writing a Real Estate Business Plan + Templates ( The Close , Apr. 17, 2023)

How to Write a Real Estate Business Plan (+Free Template) ( Fit Small Business , Jun. 21, 2022)

The Ultimate Guide to Creating a Real Estate Business Plan + Free Template ( Placester )

Write Your Business Plan ( U.S. Small Business Administration )

General Business Plans – Samples, Instructional Guides, and Templates

Business Plan Template for a Startup Business ( SCORE , May 12, 2023)

Guide to Creating a Business Plan with Template (Business News Daily, Feb. 21, 2023)

Nine Lessons These Entrepreneurs Wish They Knew Before Writing Their First Business Plans ( Forbes , Jul. 25, 2021)

How to Write a Business Plan 101 ( Entrepreneur , Feb. 22, 2021)

Books, eBooks & Other Resources

Ebooks & other resources.

The following eBooks and digital audiobooks are available to NAR members:

20 Minute Manager: Creating Business Plans Gather Your Resources, Describe the Opportunity, Get Buy-in (eBook) E

The Straightforward Business Plan (eBook)

Business Plan Checklist (eBook)

The SWOT Analysis (eBook)

The Business Plan Workbook (eBook)

Start-Up! A Beginner's Guide to Planning a 21st Century Business (eBook)

Complete Book of Business Plans (eBook)

How to Write a Business Plan (eBook)

The Easy Step by Step Guide to Writing a Business Plan and Making it Work (eBook)

Business Planning: 25 Keys to a Sound Business Plan (Audiobook)

Your First Business Plan, 5 th Edition (eBook)

Anatomy of a Business Plan (eBook)

Writing a Business Plan and Making it Work (Audiobook)

The Social Network Business Plan (eBook)

Books, Videos, Research Reports & More

As a member benefit, the following resources and more are available for loan through the NAR Library. Items will be mailed directly to you or made available for pickup at the REALTOR® Building in Chicago.

Writing an Effective Business Plan (Deloitte and Touche, 1999) HD 1375 D37w

Have an idea for a real estate topic? Send us your suggestions .

The inclusion of links on this page does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked in this page complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.

• How to Build a Real Estate Website
• Free Real Estate Resources
• Jobs in Real Estate

A password will be e-mailed to you

Reset Password

The Ultimate Real Estate Agent Business Plan

Do you have your own real estate agent business plan?

Let’s be honest, starting a career in real estate is like launching a new business. As an agent, you are your own brand. You have to find your own leads and nurture your own clients. And ultimately, you’re responsible for the production and financial success of your business.

The problem is that standard real estate courses don’t teach agents how to be business owners. Did your real estate courses help you craft your own real estate agent business plan? Mine certainly didn’t!

And that’s a real shame because business planning is key to being a successful real estate agent! This isn’t an industry you can muddle your way through. You need to create a roadmap to success. A path to show you the way forward when business gets tough.

And that’s what this post is all about: creating The Ultimate Real Estate Agent Business Plan to help your real estate business succeed!

Quick note: this article was originally published in 2019; this is the new, updated version.

Before You Jump Into Your Real Estate Agent Business Plan

Before we get started, you should decide how you’re going to document your real estate agent business plan.

• A physical notebook: Putting pen to paper can be a powerful motivator! If you’re a notebook-keeper, grab that notebook and start writing.
• A doc: Of course some of us prefer the paperless route. You can just open a blank Google Doc or Word Doc and start typing.
• A ready-to-use template: You can find inexpensive business plan templates on Etsy. If you’re looking for a template that perfectly mirrors the steps in this post, check out The Ultimate Real Estate Agent Business Plan by Key Real Estate Designs .

There’s no right or wrong way to document your real estate agent business plan. The important thing is to pick whatever method feels natural to you so that you can complete this critical business planning process.

Word of warning: this is going to be a longgggggggggggg post! We have a whole lot of ground to cover. For easy reference, here is an outline of what to include in a real estate agent business plan:

Branding Know Your Client Get Clear on Your Offer Transform Your Offer into a Vision Finance Performance from the Past Year Projections for the Upcoming Year Income Goal Tracking Long-Term Planning Marketing Know Where Your Leads are Coming from Schedule Your Marketing Activities Add New Marketing Activities Each Year Track Your Results Operations Services Supplies and Vendors Your Team Lead Follow-up Building Referrals

Let’s get to it!

1. Branding

The branding chapter of your real estate agent business plan consists of three main sections:

• Knowing Your Client
• Getting Clear on Your Offer
• Transforming Your Offer into a Vision

1. Know Your Client

Step Number One is all about knowing your audience. Starting the branding process from your clients’ perspective will help keep your real estate agent branding focused on your clients’ needs. So let’s pinpoint your ideal client first, and then we’ll figure out how to attract them with branding.

Choose Your Niche

Don’t be that agent who tries to appeal to all buyers and sellers in your area. By trying to appeal to everyone, you’ll never stand out to anyone. You need to niche down so that you are a perfect fit for the clients you most want to attract.

Many agents are hesitant to choose a niche because they don’t want to leave potential clients on the table. But there’s a big problem with being open to all clients: you’re competing with all agents.

But, if you niche down, you’re only competing with a handful of other agents in your niche. Yes, the pool of potential clients is smaller, but the odds of securing those clients are far greater. Would you rather catch 1% of 1,000 fish or 25% of 250 fish? Go for the higher conversion rates by sticking to a niche and becoming the go-to agent for that group.

To be clear, choosing a niche doesn’t mean you don’t work with other clients; it just means you’re targeting your marketing efforts to resonate with a specific group. If a lead outside your niche falls into your lap, by all means, convert that lead into a client and closing!

There are lots of ways to niche down, and you can combine several of them to carve out your unique niche. As you consider niches, ask yourself what type of client you most enjoy working with. Here are a few ways to niche down:

• Buyer or Sellers: You should specialize in one or the other, but stay flexible when your sellers are also looking to buy and vice versa. By the way, buyer/seller is not a niche by itself; it’s just the starting point of focusing on your niche.
• Specific Neighborhoods: If you have a geographic farm, that’s your niche.
• Specific Price Points: Do you focus on luxury estates, starters/fixer-uppers, or somewhere in between?
• Life Events: You could help first-time buyers, downsizers, or people looking for their “forever home”.
• Occupations: If you have a military base nearby or a large employer in town, you could specialize in helping those members/workers get settled in a new home.
• Property Type: How about focusing on agricultural land, condos, or multifamily?

Not sure which direction to go? Learn more by exploring 5 profitable niches for real estate agents .

This goes without saying, but I’m going to say it anyway: protected classes are not niches. It’s never acceptable to niche by race, religion, age, etc.

Create Your Client Avatar

Once you determine your ideal niche (like first-time military vet buyers, for example), you want to learn everything you possibly can about that group. Remember, these aren’t just clients. They’re real people with very real dreams, fears, preferences, and motivations.

Creating an avatar (an imaginary persona of your typical client) forces you to focus on what your ideal clients need from you and how you can best serve them. This will also help you understand how to appeal to them through your real estate agent branding.

There are lots of factors to consider when creating your client avatar. Here are some of the most important:

• Goals (by the way, buying or selling are never the goals; consider why they want to buy or sell)
• How much your clients know about real estate (transactions in general, and the local market in particular)
• General demographics (age, gender, familial status, profession, annual income, formal education, etc. – again, you’re not filtering clients by any protected class, but you do need to have an idea of your average client’s demographics because that will factor into some of your real estate agent branding decisions)
• Where your client hangs out, online and offline

Just to reiterate, saying that your client avatar is a 30-year-old, unmarried female buyer doesn’t mean you’d ever discriminate against families with children. This avatar is simply an amalgamation of your typical client for the purpose of appealing to your target market with your branding efforts.

2. Get Clear on Your Offer

With your client clear in your mind, you can start to clarify your image, tailoring it to meet the needs of your client avatar.

Your Origin Story

We all know real estate agents are just superheroes without capes. And every good superhero has a solid origin story. What’s yours?

How did you come to be a real estate agent? What hurdles have you overcome to get to this point in your life? Which accomplishments are you most proud of? And how does that fit your client avatar’s expectations?

If you’re a native local, great! Part of your origin story is that you were born and raised in the area, so you know everything and everyone.

If you’re a transplant, great! San Diegan by birth, Angelino by choice. Still a great start to your story.

Write down your origin story. It’ll make a great addition to your professional bio !

Your Mission

Why are you doing what you’re doing? What drives you to hustle every day? And, again, how does that fit your client avatar’s expectations? Your personal mission should be meaningful to your clients.

Your Differentiator

Now’s the hard part: verbalizing your uniqueness.

Which of your prospective clients’ needs can you meet better than your competitors? That’s your differentiator.

Here are a few differentiator ideas:

• Best list-to-price ratio in your niche
• Best online presence
• Biggest professional network of investors
• Most experience with VA loans
• Only local agent who speaks Spanish

And if you’re really struggling to find your differentiator, how about offering something no one else is offering? Consider offering services like:

• Professional staging for all sellers,
• New home photo shoots for all buyers, or
• Complimentary annual property tax reviews to make sure your clients are never over-taxed (and if they are, you can offer your property tax appeal services on a contingency fee basis!).

There are a million ways to differentiate yourself. Figure out what’s going to make the biggest difference to your prospective clients.

Your 5 Magic Words

To fully cement your professional image, choose five magic words that best describe you and your brand. These magic words will guide all your real estate agent branding. If you look at your business cards, website, or marketing materials, and they don’t SCREAM these five words, then you’ll know something needs to be changed.

Your differentiator may immediately bring a word or two to mind. So might your client avatar.

Then you’re looking for words that convey an idea or emotion you want to resonate with your target audience.

These are going to be your five magic words. So own them and live them!

3. Transform Your Offer into a Vision

Now that you have a better understanding of your offer, you can turn it into a vision.

In this step, your unique real estate agent branding will really start to take shape!

Choose Your Brand’s Name and Tagline

Naming your brand is harder than most agents expect, mostly because many of the best names are already taken. You need a name that you can “.com” for your website, but that name also has to be available across all social media platforms. Here are a few pointers to simplify the process:

• Keep it under 15 characters. Otherwise, you’ll have to abbreviate your X (formerly Twitter) handle, which dilutes your branding.
• Think lifestyle and location .  MB Luxury, Venice Living, or Living in the OC for example. These all focus on the lifestyle of your target audience.
• Never incorporate your Broker’s name. Because 1) it’s probably trademarked and 2) you don’t want to tie your brand to your broker because that creates complications if or when you decide to part ways.
• Check to see if the domain name is available for your website. If you type your idea into Bluehost’s domain search , it will tell you if the name is available.
• Then check to see if the name is available on social media platforms. Is there already an @VeniceLiving on Insta?

If you’re struggling with this step, don’t let it prevent you from moving forward. When in doubt, use your name. If you have a unique name, it could be your brand name by itself. Otherwise, you could incorporate your name with your lifestyle or location. OC Estates by Sarah, Sean Sells Santee, or Lilly’s Life in LB.

Then you can craft your tagline. Skip the cheesy rhyming taglines of the last century. Instead, explain your differentiator in just a few words. That’s a much more powerful tagline.

Create a Mood Board

The best way to start visualizing your brand is to create a mood board. A mood board is basically just a collage of images with a cohesive look that reflects your idea of your brand. These could be patterns, lifestyle photos, design elements, and color swatches.

Here are a few examples:

Your mood board should be a visual reflection of your offer. If you offer fun and fresh service for first-time buyers, your mood board should scream fun and fresh with bright colors and trendy designs. And if you offer home-grown expertise in agricultural properties, your mood board should whisper farmhouse chic with natural colors and materials.

Want a shortcut?

If you don’t have time to scour the Internet looking for mood board images, just enter “Mood Board” or “Branding Board” on Pinterest. You’ll find tons of professionally curated boards to inspire your personal mood board.

But one quick word of caution: you could get stuck at this stage for weeks because there are so many engaging boards to see. My recommendation is to set a timer for 20 minutes. Browse away, pinning the images that really speak to you. Then use 10 additional minutes to narrow down your selections until you have a brand board you love.

Choose Your Official Brand Colors

One of the reasons I love the Mood and Branding Boards on Pinterest is that they usually come with a beautifully coordinated color palate.

Choosing colors is difficult for most of us because there are so many shades and it’s hard to know which colors best complement each other. Using the colors from a professionally designed board ensures that your colors all work together perfectly.

If you see a color you love, but can’t figure out exactly what color it is, here’s a quick and easy way to find out:

1. Save the image to your computer.

2. Upload that image to imagecolorpicker.com .

3. Click anywhere on the image to get the details for the color you want from the image.

You’ll be able to use the HTML code or the RGM code to get your colors just right on your website, marketing materials, and social media posts.

So you’ll always have perfectly matched brand colors!

Decide on Your Font(s) and Any Design Elements

It’s generally best to stick with two fonts: one bold, and one for easy readability. Your bold font will go on your headers, titles, and logo, and your readability font will be everything else.

Like with colors, you want your fonts to complement each other. There are lots of resources online to find font pairings. Here’s an example of some front combinations from Inkbotdesign.com :

Just make sure you have access to your chosen fonts on all the platforms you use (your website, your marketing design software, etc) as some platforms only offer limited font selections.

If you’re going to have any custom design elements (stripes, brush strokes, patterns, etc), now is also the time to select those.

Create Your Logo

Finally, it’s time to choose your logo.

This is another step that stalls lots of agents. But we have a shortcut to help you get this done quickly and easily.

Head to Etsy . They have lots of personalized logo packs at great rates.

Some Etsy sellers even offer custom-designed logos. If you don’t see an existing logo pack, you can just contact those sellers with your fonts, colors, brand name, and any of your unique design ideas, and they’ll get you set up in no time.

Before long, your target audience will start to recognize your unique real estate agent branding. They’ll know what you and your brand stand for. And they’ll know how to reach you when they’re ready to buy or sell!

The finance chapter of your real estate agent business plan consists of the following sections:

• Performance from the Past Year
• Projections for the Upcoming Year

Income Goal

• Long-Term Planning

1. Review Your Performance from the Past Year

To know where you’re going, it helps to know where you’re coming from.

Reviewing your financial performance from the past year will give you an idea of what to expect (in terms of income and expenses) for the coming year.

A quick note about expenses: As an independent contractor, you have more than just personal expenses to consider. You also need to consider business expenses. We’ll discuss both.

If this is your first year in real estate, your prior year’s data won’t include relevant business expenses or reliable income figures. You’ll just need to spend more time researching average income and expense data in Step 2. But you will still benefit from reviewing last year’s personal expenses so you’ll know how much to budget in those categories for the coming year.

Most agents find it helpful to look at the expenses first when reviewing their financials. When your income is uncertain, starting with your expenses lets you know exactly how much income you need to make to cover all your needs. So we’re going to follow that method by listing expenses first.

Now, I like to start with personal expenses since many of these are essential to your life, regardless of the current state of your business.

Personal expenses include:

• Personal Vehicle
• Personal Care
• Debt Payments
• Savings and Investments
• Charitable Giving

All you need to do is list all your personal expenses and assign an amount to each. You may find it helpful to list both the annual total amounts and the average monthly amounts .

Then you can move on to your business expenses.

Business expenses include:

• Work Vehicle
• Work Cell Phone
• Office Space (if not covered by your Broker)
• Website Hosting
• Membership Dues
• Client Gifts
• Federal and State Income Taxes

If you’re new to real estate, you’ll need to account for a few start-up costs as well:

• Licensing fees
• A real estate website ( a must for today’s serious agents )
• Any onboarding fees charged by your broker
• Business cards
• Initial self-promotional marketing

Do you feel like your expenses are too high in any category? Ask yourself if it’s reasonable to cut back on that expense in the coming year. If so, great! And if not, at least you’ll know to budget enough for that category in the coming year.

The bulk of your income will, in all likelihood, come from real estate transactions. But this shouldn’t be your only source of income.

Savvy agents are diversifying their income streams to recession-proof their businesses and reach financial independence. Check out our massive list of 55 Ways to Make Money in Real Estate for some income ideas that will complement your real estate business.

Just like you did with your expenses, list your income sources from this past year and the amounts earned from each source.

Your income minus your business expenses equals your profit.

How did you do last year? Are you satisfied with last year’s profit? Or do you need to lower your business expenses, increase your income, or both to reach a profit you’re happy with in the coming year?

Your income minus your total expenses (personal and business) is your cash flow. This shows how much more money you make than you spend.

As long as you’re including savings and investments in your expenses (which you absolutely should be, otherwise those will end up neglected!), your cash flow number doesn’t need to be large. You just want to be sure you’re making more than you’re spending.

If there’s anything you don’t love about your financials from the past year, don’t panic. Instead, focus on what you want to do differently in the next 12 months. That’s what we’ll do in Step 2.

2. Plan Your Financials for the Coming Year

Now it’s time to create your real estate agent financial plan for this coming year.

• How much do you plan to spend?
• And how much do you plan to earn?

Using last year’s expenses as a guide, write down your estimated expenses in each category for the coming year. You may have to do a little research to get estimates on some figures if this will be your first year incurring that particular expense.

The most important thing when estimating your expenses is to be as accurate as possible. Many of us have a tendency to think our numbers should be lower, so we underestimate our expenses, and subsequently end up breaking our budget.

A good rule of thumb is to budget high. If you come in under budget, great! You’ll have more money at the end of the year to invest in business expansion.

With your expenses calculated, you now know exactly how much money you need to make this year to cover all your expenses.

How does that number line up with last year’s income?

Do you expect this year’s income to be similar?

Again, accuracy is key. Your income goal should be achievable , but it should also be difficult enough to really make you work.

By the way, in the next step, we’ll create a plan to make your income goal a reality. That step will be a good litmus test to see if your income goal is reasonable.

Assuming you hit your planned expense and income figures this year, what will your profit be? Again, it’s just income minus business expenses.

How does this projected profit compare to last year’s profit? Are you happy with this profit? If not, now’s the time to review your projected expenses and income to see if you need to make any adjustments.

When you subtract your total expenses from your projected income, are you still at a positive number? Because you need to be!

3. Create a Plan to Meet Your Income Goal

Now that you have an income goal in mind, we need to create a bulletproof plan to hit that goal.

To do this, we need to answer two questions:

• How many homes do you need to sell this year to meet your income goal?
• How many leads do you need to reach to sell that many homes?

Let’s look at each question in turn.

How Many Homes Do You Need to Sell?

Here’s the formula to calculate the number of homes you need to sell:

————————————————————————————————

(Average Home Price x Your Average Commission Percentage x Your Commission Split)

For anyone not algebraically inclined: we’re just figuring out your after-broker commission from an average sale, and then dividing your income goal by that number.

As an example:

If the average home price in your niche is $250,000, the average commission per agent is 3%, and your split with your broker is 50%, you would need to sell 27 average homes to generate $100,000 in gross income. ($250,000 times 3% = $7,500 x 50% = $3,750. So you make $3,750 on each average transaction. And $100,000 divided by $3,750 is 26.666 houses, rounded to 27.)

So, what’s your magic number?

Now, how are you going to meet that sales goal?

How Many Leads Do You Need to Reach?

First, let’s break down your home sale goal by month so it’s less daunting. Divide your magic number by 12 to figure out how many homes you need to sell each month on average.

Now, how many leads do you need to reach each month to sell that many homes?

To figure this out, you need to know your conversion rate. How many leads does it take on average to close a single deal? For seasoned agents, this is a matter of tracking your leads and your closed deals to know your personal conversion rate. For new agents, 100 leads for every 1 closed deal is a safe estimate in most markets. This number will improve as you gain sales experience and establish yourself in the market.

Here’s the formula for calculating your monthly lead requirements:

number of deals needed x number of leads required to make one sale

That number may seem high. But let’s make it more manageable by figuring out how many leads you need to generate each day. To do that, divide your required leads per month by 16. Why 16? Because life happens, and you can’t reasonably expect to prospect every single day of every month. So we’re figuring 4 workdays for 4 weeks per month.

As long as you commit to hitting your prospecting target 4 days per week, there’s no reason you shouldn’t hit your income goal!

4. Tracking Your Finances

This is one of the most often ignored steps in creating a real estate agent financial plan: tracking.

How will you know if you’re on track to stay on budget and meet your income goal if you don’t track your finances through the year?

Unexpected expenses and sales droughts can completely derail your financial plan. It’s important to catch these in real-time so you can adjust your plan as needed to get back on track as quickly as possible.

Keep a monthly log for expenses, and one for income. And actually use them! That’s the tricky part. It’s a good idea to schedule 15-30 minutes each week specifically to log your income and expenses from the previous week. Put this recurring appointment in your calendar to remind you to build this financial habit.

5. Long-Term Planning and Tracking

The final step to creating your bullet-proof real estate agent financial plan is to create a long-term financial plan.

Long-term financial planning is difficult for real estate agents. It’s hard enough to plan for a single year. How are you supposed to plan 5-10 years (or more!) into the future?

No one expects you to accurately forecast your income and expenses for the next 10 years. But there are some long-term financial plans that wise agents track. Btw, if you want to learn more on this topic, check out Financial Planning for Real Estate Agents for a comprehensive overview.

Planning to retire as a real estate agent is tough. You don’t have a 401(k) or a pension plan. So you have to plan for retirement on your own.

A Solo 401(k) is a great option because it allows you to contribute more each year than IRAs.

The key to retirement savings is to start early and save consistently. Compound interest will work its magic from there.

Aim to set aside a full 10% of your gross income for retirement. But start slowly if 10% sounds like too much for you to spare. Start with 3% of every transaction for the first year. Then 5% the next year. And keep increasing until you hit 10%. If you’re starting retirement savings later in life, you may need to save more. If you have other income-generating assets, like rental properties, you may be able to save less. Talk to a Certified Financial Planner (CFP) if you need help figuring out your retirement plan.

Your Dreams

It’s sad that most of us put such a low priority on our dreams.

How many of us desperately want to travel or open our own brokerages or start a non-profit for the community? And how many of us never do these things because we just don’t have the money?

Make your dreams a priority by building them into your financial plan every year. And tracking your Dream Fund finances over the long term.

Your Legacy

What do you want to leave for the next generation?

You certainly don’t need to leave an inheritance for your children, but you may want to help your children and/or grandchildren with education expenses as your legacy. Maybe you want to create a family business to leave behind? Or build a community park for future generations to enjoy. Or establish a non-profit to assist those who come after you.

If you want to leave a legacy like these, you’ll need to include them in your long-term financial planning.

Your Net Worth

Tracking net worth year-over-year is one of the most rewarding financial exercises you can do!

Net worth is the best indicator of overall financial health. It’s a comparison of your debts to your assets. Think of it like this: if you sold everything you owned and paid off all your debts today, how much would you have left?

To calculate your net worth, start by listing all your assets and their present-day values:

• Checking Accounts
• Savings Accounts
• Retirement Accounts
• Investment Accounts
• Real Estate Holdings
• Collectibles

Now, list all the current balances on all your debts:

• Student Loans
• Credit Cards
• Business Loans
• Personal Loans

And finally, subtract the debts from the assets. The result is your current net worth.

The more assets you accumulate, the more your net worth will skyrocket. Especially if you acquire assets that appreciate, like real estate and financial investments (stocks and bonds).

Invest the time in calculating your net worth just once or twice per year. The motivation to improve your finances lasts long after you complete this small task. And as your net worth grows, you’ll find that you’re actually excited to calculate your new net worth and see how much your financial health has improved since the last check.

3. Marketing

Marketing builds on some of the foundation work you did in the branding and finance sections of your real estate agent business plan. With your financial goals and target market in mind, you can build a marketing plan to suit your audience and earn you enough leads to hit your goal.

The marketing chapter of your real estate agent business plan consists of:

• Knowing Where Your Leads are Coming from
• Scheduling Your Marketing Activities
• Adding New Marketing Activities Each Year
• Tracking Your Results

1. Know Where Your Leads Are Coming From

Do you know where your leads are coming from?

Online? Geo-farming? Cold-calling the Expireds? Somewhere else?

To know where your marketing dollars are making the most bang, you need to know which marketing methods are working for you.

If you don’t have a CRM (Customer Relationship Management) system that automatically tracks the return on investment for your leads, you can create a basic spreadsheet to handle this task. Just list your marketing methods in a column on the far left, then add columns for the:

• annual cost of each marketing method
• number of leads generated every year by each method
• cost per lead (annual cost divided by the number of leads generated)
• number of closed deals
• net profit from those closed deals
• ROI of each method (net profit divided by the annual cost)

(By the way, The Ultimate Real Estate Agent Business Plan on Etsy includes a ready-made template for you.)

If you’re brand new to the business and don’t yet have any data to analyze, don’t worry. Start your marketing strategy with three to five cost-effective marketing methods. My recommendations for most new agents in most markets are:

• Social Media Marketing.  You can create professional profiles and post for free (check out How to Create a Lead-Generating Social Media Calendar for tips). And if you don’t have the time or design skill to create your own social media posts, sign up for DRIP by Key Real Estate Resources.  You’ll get fresh social media posts and a new social media calendar delivered to you each month!
• Content Marketing.  Add blog posts to your website to boost your search engine rankings so buyers and sellers can find you online.
• Calling FSBOs and Expireds. T hese people are actively trying to sell! Get out there and talk to them. In fact, consider hosting a FSBO seminar where you give  real information about the home selling process. When sellers see what’s required to get top-dollar, they’ll probably list. And they’ll choose the agent who gave them the real info they were looking for! No time for a seminar? Offer a free FSBO guide instead.
• Mailers. Mailers may be old school, but they’re still a low-cost way to generate leads in many markets.
• Open Houses. While open houses aren’t effective for selling in all markets, they’re often effective at generating new leads .

2. Schedule Your Marketing Activities

Armed with your chosen marketing methods, it’s time to decide exactly when you’re going to take action.

You know that if it isn’t on your calendar, it won’t get done. Other tasks, like showings and inspections, will inevitably take priority because they are more urgent. Don’t let the urgent tasks keep you from the important tasks. And since your business doesn’t exist without a client pipeline, marketing is possibly the single most important task you can complete to keep your business growing. So schedule it!

Grab your calendar now and decide when you’ll:

• Launch your website (if you don’t already have one)
• Write and publish your blog posts (one per week is ideal)
• Post to social media (several times per week on your focus platforms, and at least once per week on the other major platforms). By the way, if you don’t have time to create your social media content, consider a service that creates the posts for you. DRIP by Key Real Estate Resources offers plans starting at just $9/mo.
• Call Expireds and FSBOs (daily! – so what time will you carve out every day for distraction-free phone marketing?)
• Send mailers (at least quarterly)
• Attend networking events
• Order any print media ads
• Launch any social media ad campaigns
• Etc, etc, etc

3. Add a New Marketing Activity Every Year

The real estate industry is always changing. What works one year might not work so well the next. And next year, you may find new marketing opportunities you weren’t even aware of this year.

Innovative agents experiment with new marketing technologies to keep their businesses growing.

In a hot market, you want to target FSBOs. When homes sell quickly, people think they can save on commission by selling themselves. So you need to show them what it takes to sell for top dollar.

And in a down market, you have a few options. One effective marketing activity to add in a down-market is to target renters. Home prices are lower than average, interest rates are favorable, and rents are increasing. Show these renters how to get a low down payment FHA or VA loan so they can use the market to their advantage! To really boost your leads, try creating your own Renter-to-Homeowner Program .

Another great example (albeit a more ambitious one!) of a new marketing plan for a down-market is to expand your services to include the property tax appeals service we mentioned in our discussion about your Differentiator. Most agents don’t even know this service exists, but it can provide you with a whole new income stream while simultaneously generating new leads and nurturing your relationship with past clients. And it’s far easier than you might imagine!

All you have to do is explain to the county that your client’s home is worth less than the value on their tax bill (which is  very often the case in a down market). You do this by running comps, like you already know how to do. If the county agrees, they’ll lower your client’s property taxes, and you get a cut of that reduction. You’ll be able to pitch this service to all homeowners in your niche and gain some serious exposure for your real estate business! Learn more by reading How to Make Money With Property Tax Appeals .

There are tons of creative marketing strategies that most agents never consider. Trying a new marketing activity each year will keep your business growing in any market!

4. Track Your Results

To know what works you need to track your results.

Back in Step 3, we looked at where your leads are currently coming from, as well as the return on investment for each marketing method. Without tracking your leads, you’ll never have this valuable data to help guide your next marketing move.

Every time a new lead comes in, record the marketing source that drove them. If you have a fancy CRM database, you can record the information there. If you’re just keeping your leads in a simple spreadsheet, no problem! Just make sure you have a column to record the source. And if you don’t currently have a system, consider spending a few bucks on a done-for-you CRM template .

4. Operations

Last section! The operations chapter of your real estate agent business plan consists of five parts:

• Supplies and Vendors
• Lead Follow-up
• Building Referrals

Let’s take a closer look at each…

1. Services

Here’s a question most agents never think to ask themselves: What services should I offer?

Most agents think the answer is obvious. You sell real estate, right? What’s to ask?

This is a HUGE missed opportunity.

There’s so much more to real estate than sales. What other services could you offer to 1) diversify your income, 2) recession-proof your real estate business, and 3) best serve your clients?

Not sure what I mean? Here are a few examples of services that would complement your existing real estate practice:

Property Tax Appeals

We’ve mentioned property tax appeals a few times already. It’s just such a perfect fit for real estate agents (who already have about 95% of the knowledge and skills required to make money in property tax appeals), but surprisingly few agents are capitalizing on this homeowner need! Again, to learn more, check out How to Make Money With Property Tax Appeals

New Home Photo Shoots

If it isn’t on Instagram, it didn’t happen. Millennials and beyond want to show off their new home on social media. And they’re willing to pay for quality photos of themselves in their new place.

If you have photography skills (or you partner with a professional photographer for your listing photos), you can easily add this service to your real estate business.

Offer photoshoot packages to your buyer clients. But don’t stop there. Ask your colleagues if you can reach out to their buyers as well. Then promote your photoshoot services online. Before you know it, you’ll have a healthy new income stream!

And the best part: your clients’ social media pics become free advertising for you. Not only will this boost your photography services, but it can also bring you new buyers and sellers!

Read more about the benefits of offering new home photoshoots .

Property Management

If you want to land more investor clients (and wow them with your services!), offer property management services.

You know, tenant screenings, rent collection, maintenance requests, renewals, etc.

In most markets, property managers can command a 10-20% commission on the monthly rent for property management. It doesn’t take many units to add up to a substantial income stream.

Not interested in taking on ongoing property management work? Simply helping property owners screen new tenants can earn you a commission of around 50% of the first month’s rent, and then the day-to-day management can be handled by the property owner until they need new tenants. It’s an easy way to land a quick paycheck!

Other Services

There are tons of other ideas for additional income streams you can add to your real estate business. Check out 55 Ways to Make Money in Real Estate for more ideas!

2. Supplies and Vendors

Once you know what services you will offer, you can plan for your supply and vendor needs.

As a service business, your supplies should be minimal. Here are a few supplies to consider:

• Marketing Materials
• Software Subscriptions

Not much to it!

Depending on the services you offer, you may need to utilize the services of several vendors.

On the real estate sales side, you have the standard players:

• Escrow Officers
• Transaction Coordinators
• Marketing Publications

Then consider your other income streams. If you’re offering property tax appeals, you may want to hire a virtual assistant during appeal season to research assessed values and handle your data entry. If you’re offering new home photoshoots, you may want to partner with a professional photographer.

Ask yourself two key questions:

• Would a vendor boost the quality of my business?
• Is it worth paying someone to complete certain tasks so I can focus my energy where it will have the greatest impact?

If the answer to either question is yes , you should absolutely use a vendor.

3. Your Team

For many real estate agents, you’re a team of one! You do everything yourself. But many agents want to grow a larger team: admin, buyer’s agents, listing specialists, etc.

Technology has opened many opportunities to help you grow your team. For example, your first team addition might be an inexpensive virtual assistant. You can hire a real estate assistant to take care of all your data entry, social media engagement, appointment setting, and even blog writing! And you don’t have to pay a full-time salary or offer benefits to a freelancer.

Tech has also introduced new challenges. Managing a virtual admin is very different from having an assistant in your office. You don’t get the face-to-face communication, and you don’t have the level of control that you would have over a full-time, in-office employee.

What works best for you? You can always try hiring a freelance VA for a short time to see if you’re comfortable with that arrangement. And if not, you can post a job ad on Craig’s List for a part-time (or full-time!) in-office assistant. This position is generally paid hourly. Depending on your market, this could be a $12-$20 per hour position.

Then you can branch out into specialists. The order of your hires will depend on your personal strengths and preferences. If you love listing and you’re great at it, you don’t need a listing specialist; focus on getting a buyer’s agent, marketing coordinator, and operations manager instead.

Be honest with yourself about which tasks you just don’t enjoy, and which tasks you struggle with, then hire people with those as strengths!

Just remember to give yourself time to grow. You don’t need to go from 1 person to 10 people this year. It takes time to build an effective team. Give yourself 6-12 months between each hire to avoid the worst of the growing pains.

Here’s an example of an org chart for a full real estate team (the numbers indicate a recommended order of hire):

4. Lead Follow-Up

First, schedule time every day for your lead follow-up. Every workday, you’re going to sit down at a designated time, open your CRM (Customer Relationship Manager), and follow up with your leads. Statistically, the best times to reach people are 8-10 am and 4-6 pm. So for the best chances of success, your follow-up should take place during those hours.

Studies have repeatedly proven that you don’t convert a lead to an active client in a single follow-up. It typically takes 7-8 touches for a lead to become your client. But that’s just an average. If you really want to boost your production, you need to follow up with every lead until they become your exclusive client.

What if your lead ends up listing with another agent? They’re still a lead. Contact them every few weeks to make sure they’re satisfied with their agent’s performance. If that listing expires, who do you think is going to land the new listing?

Here are some tips to increase your conversion rates from leads to clients:

• Put every single lead in your CRM. Every seasoned agent has been surprised by a lead they thought was low-quality. If you don’t log the lead, you lose them.
• When a new lead comes in, aim to reply to them within five minutes. The sooner, the better! Auto-responders can buy you a little time.
• Schedule your next follow-up immediately after every follow-up.

5. Building a Referral Business

What is your plan for after the deal closes? Is your current plan resulting in repeat business and referrals? If not, it’s time to re-think your post-close plan.

Lucky for you, I have a tried-and-true plan, ready for you to implement today!

Here’s a simple 3-step process for building a referral business:

Step 1: Showing Genuine Gratitude

Some agents are bucking the trend of closing gifts. They have already provided quality service, so they don’t see the need to spend part of their hard-earned commission on a closing gift.

But failing to give a closing gift is a huge missed opportunity.

First, many clients expect a closing gift because of the tradition of closing gifts. And your goal is always to exceed expectations, never to disappoint your clients.

Then there’s also the fact that closing gifts give you the opportunity to express your appreciation for your clients’ business. Without their business, you don’t survive as a real estate agent. So cultivate that attitude of gratitude and show your thanks with a thoughtful closing gift.

Lastly, closing gifts are an opportunity to make a lasting impression. A thoughtful closing gift helps your clients remember you. And a carefully selected closing gift can even generate referrals! Check out our list of 20 affordable closing gifts guaranteed to impress your clients .

Step 2: Providing Ongoing Value

Most agents consider the job done when the deal closes. Savvy agents know that a little ongoing effort pays off HUGE in referral and repeat business.

How can you help your clients after the sale? First-time homeowners are pretty clueless when it comes to home maintenance. Maybe you can send them a friendly list of home maintenance issues to tackle each season.

Offering property tax appeal services is a great way to provide value to your clients every year! Surprise and delight your clients by conducting a “complimentary property tax assessment review” every year. All you have to do is compare the assessed taxable value to the market value.

• If the assessed taxable value is lower than the market value, you can send the client a letter to let them know that you’ve confirmed that their property taxes for the current year are fair and ready to be paid in full.
• If the assessed taxable value is higher than the market value, you can let your clients know that your calculations indicate they are being over-taxed, and you’re happy to file a property tax appeal on their behalf to try to lower the taxes for them. (you can download a done-for-you letter template from our post on property tax appeals).

You should also send custom value estimates to your clients every 6-12 months to let them know how much their home has increased in value (just in case they’re thinking of selling).

Step 3: Maintaining the Personal Relationship

Don’t just rely on blanket marketing to stay in touch with your former clients. Schedule some personal touches as well to make sure your personal relationship is maintained.

Here are a few examples of effective personal touches:

• Send a Happy Housiversary Card every year. And maybe a small gift for that first year (if you really want to wow your clients!)
• Host an annual appreciation event , and invite all your formal clients. A simple party at home is nice and personal. But it’s certainly not the only option. Hosting an outdoor movie night is perfect for families. Offering a “Hidden Gems” tour of your city is great for areas with lots of non-natives. And renting out a boat for a sunset cruise with drinks and live music would be ideal for luxury market clients.
• Check in out-of-the-blue. Send a quick text just to say, hey I was just thinking about you and wondering how you’re doing. Is anything new and exciting going on? These messages are great because there’s no agenda. You’re just reaching out to an old friend to see how they’re doing.

With these personal touches, you’re not just staying in front of clients, you’re building on your personal relationships with them!

Congrats on Completing Your Real Estate Agent Business Plan!

Whew…I know that was a long read (or a long scroll, anyway).

But if you follow the steps outlined in this post, you’re going to end up with a complete real estate agent business plan to provide direction and accountability to your real estate business.

You owe it to yourself to complete your real estate agent business plan and set yourself up for a career full of success.

All the best to you and your business!

Share this:

• Click to share on Facebook (Opens in new window)
• Click to share on LinkedIn (Opens in new window)
• Click to share on Twitter (Opens in new window)
• Click to share on WhatsApp (Opens in new window)
• Click to share on Pinterest (Opens in new window)
• Click to print (Opens in new window)

Related Posts

Leave a Reply Cancel Reply

Your email address will not be published.

Notify me of follow-up comments by email.

Notify me of new posts by email.

Looking for something?

Recent Posts

• Secrets to Financial Independence: Real Estate Home Inspections as a Retirement Plan
• 50 Real Estate Career Paths to Change Your Life
• How the NAR Settlement Will Affect Real Estate Agents
• The Best Passive Income Ideas for Realtors®
• Short-Term Rentals: Your Guide To Running Profitable STR

Daily Inspiration

• #RealtorLife
• Blogging and Other Online Income
• Creating and Managing Multiple Income Streams
• For Luxury Agents
• For New Agents
• Guest Experts
• Investment Income
• Product Income
• Real Estate Agent Finance
• Real Estate Marketing
• Services Income
• Social Media for Real Estate
• Your Real Estate Website

Use the form below to contact us!

Compare Listings

Sign into your account, create an account.

Real Estate | How To

How to Write a Real Estate Business Plan (+ Free Template)

Published June 30, 2023

Published Jun 30, 2023

REVIEWED BY: Gina Baker

WRITTEN BY: Jealie Dacanay

This article is part of a larger series on How to Become a Real Estate Agent .

• 1 Write Your Mission Statement
• 2 Conduct a SWOT Analysis
• 3 Set Specific & Measurable Goals
• 4 Plan Your Marketing Strategies & Tactics
• 5 Create a Lead Generation & Nurturing Strategy
• 6 Calculate Your Income Goal
• 7 Set Times to Revisit Your Business Plan
• 8 Why Agents Need a Real Estate Business Plan
• 9 Real Estate Business Plan Examples & Templates
• 10 Bottom Line
• 11 Frequently Asked Questions (FAQs)

A real estate business plan lays the groundwork and provides direction on income targets, marketing tactics, goal setting, lead generation, and an overview of your industry’s competition. It describes your company’s mission statement in detail and assesses your SWOT (strengths, weaknesses, opportunities, and threats) as an organization. Business plans should include measurable goals and financial projections that you can review periodically throughout the year to ensure you meet your goals.

Continue reading to see real estate business plan examples and discover how to write a real estate business plan. Start by making your own by downloading and using the free real estate business plan template we’ve provided below.

FILE TO DOWNLOAD OR INTEGRATE

Real Estate Business Plan Template

Thank you for downloading!

💡Quick tip:

Market Leader provides a comprehensive paid inbound lead, automated marketing, and CRM solution to help agents acquire, engage, and nurture real estate leads.

Furthermore, Market Leader offers and guarantees you a number of exclusive seller and buyer leads in your target niche at a monthly rate.

1. Write Your Mission Statement

Every real estate agent’s business plan should begin with a mission statement, identifying your values and why your business exists. Your mission statement serves as the guide to achieving your ultimate business objective. When you create a solid clear mission statement, all other items identified in your realtor business plan should be aimed at fulfilling this statement.

Compass’ mission statement: “Our mission is to help everyone find their place in the world.” (Source: Compass )

Your mission statement should identify your target audience, what product or service you provide, and what makes your business distinct. As seen in the example above, a powerful mission statement should be short and concise but sums up a business objective.

Let’s take Compass’ mission statement above as an example: “Our mission is to help everyone find their place in the world.” The statement identifies what the company offers, for what reasons, and who it benefits.

2. Conduct a SWOT Analysis

SWOT is an acronym that stands for a business’ strengths, weaknesses, opportunities, and threats. The primary objective of these four elements is to assess a business by evaluating internal and external factors that can drive decision-making and help you make more money . Conducting a SWOT analysis as you develop your business plan for real estate uncovers opportunities to differentiate yourself from the massive competition currently on the market.

Strengths & Weaknesses

Strengths and weaknesses are internal parts of your organization. Strengths identify what product or services you provide better than others, your access to resources, and items that benefit your customers. Weaknesses are items that need improvement, lack of resources, or what your competition does better. These are items within your control to change because you can convert a weakness into a strength.

See the example below if “Agent X” was doing their SWOT analysis:

Opportunities & Threats

External factors drive opportunities and threats and are areas you can take advantage of to benefit your business. Examples of opportunities can be shifts in the current marketplace, emerging trends you can capitalize on, features that competitors lack, or even changes with your competitors. Threats, on the other hand, are anything that can negatively impact your business. You don’t have control over changing the opportunities or threats, but you can develop a practice to anticipate and protect your business against the threats.

The opportunities and threats for “Agent X” would be:

When you complete your SWOT analysis, use it as a guide when creating strategies to meet your business objectives. To gain the most benefit from creating a SWOT analysis, make sure you are being realistic about your business and evaluating it in its present state. You don’t want to be unrealistic by listing strengths or opportunities that don’t exist yet, and you want to allocate time and money to the most impactful solution to your business issues.

If “Agent X” completed the above SWOT analysis, a few strategies they could derive would be:

• Incentivize agents to keep them at the brokerage for longer
• Implement a technology-based key machine to reduce lost keys and keep the team accountable
• Find a competitive advantage against competing brokerages and use that in marketing messages

Zillow agent finder (Source: Zillow )

To help agents locate other brokerages operating in your preferred market, agents can use Zillow’s agent finder page as a research tool to see which agents or brokerages are operating in a specific area. You can find an agent by location, name, specialty, and language. Once you click on a Zillow profile , you can read their reviews, see their team members, contact and website information, and property listings. Take a deep dive into your competitor profiles and can use the information to implement strategies within your own business.

Visit Zillow

Read how our experts feel about this real estate lead generation company in our Zillow Premier Agent review .

3. Set Specific & Measurable Goals

You’re ready to set some business goals after clearly defining your mission statement and SWOT analysis. Goals can help set the tone to increase your performance and drive your business in the right direction. Your goals should have a definitive way to show progress, which can be a prime motivator to keep you on track to achieving them.

Each goal should follow a pattern to identify set criteria. This will ensure that your daily efforts are performed to meet business objectives within a set period. A way to do this is by using SMART goals:

Examples of SMART goals for agents or brokerages:

• Increase closed transactions by 20% to a total of 150 deals within the next year
• I will ask all closed clients for a referral and review within 30 days of closing the deal

Goals can be split into short-term and long-term goals. Short-term goal lengths vary between days and weeks but do not exceed six months. Short-term goals can also be worked on simultaneously with long-term goals. Long-term goals can take up to six months or more to complete and require careful planning and perseverance. A mix of short-term and long-term goals will help you maintain motivation.

All goals are equally important; however, success will stem from how you prioritize each one. Slowly add on additional goals as you have the capacity and feel comfortable with the current progress of your current set of goals. Without identifying your business goals, you’ll leave your results up to luck to attain your business objectives.

4. Plan Your Marketing Strategies & Tactics

Developing marketing strategies and tactics and implementing them help you identify and locate your current value proposition in the real estate industry, along with specific timelines for execution. In addition to determining your overall business objectives and goals, your marketing strategy and plan should include the following:

• Pinpoint general marketing goals
• Estimate projected marketing budget
• Know your geographic farm area data and identify your target niche audience
• Analyze market competition
• Identify your unique selling proposition
• Establish a timeline and set your plan in motion
• Track your progress and readjust as needed

While a marketing strategy identifies the overall marketing goals of your business, developing marketing tactics will help you achieve those individual goals. They can include referral business tactics, retention efforts, and ways to acquire new customers. For example, you can offer incentives to anyone who refers your business, or you can implement new email drip campaigns to help increase lead conversion rates.

These tactics should have set key performance indicators (KPIs) to help you evaluate your performance. For instance, a KPI you can set for your business could be that referral business should exceed 20% of your lead generation sources.

If you’re unsure how to put together your marketing plan, check out our article Real Estate Marketing Plan Template & Strategy Guide and download the free template to get started.

Postcard campaign example (Source: ProspectsPLUS! )

If direct mail is part of your promotion strategy, services like ProspectsPLUS! can help easily create and distribute mailers to a targeted area. It also has options for postcards , brochures, newsletters , flyers, and folders. You can also send mailers to prospective clients by geographic or demographic farm areas through its campaigns. Check out its templates and mailing options today.

Visit ProspectsPLUS!

Read how our experts feel about this real estate direct mail service in our ProspectsPLUS! review .

5. Create a Lead Generation & Nurturing Strategy

Having a successful lead generation strategy will help you maintain business growth. Lead generation can be performed organically and through paid advertisements to attract and convert prospective clients. In addition to generating leads, agents should have systems to manage, nurture, and re-engage with contacts to maximize opportunities.

Generating leads through a multipronged approach is the best way to maintain lead flow. Use organic strategies like hosting an open house, reaching out to your sphere of influence, and attending networking events. Employ paid generation strategies, such as purchasing leads from a lead generation company or setting up a website to funnel potential clients. Your marketing strategies will directly correlate with your lead generation strategies.

Every lead is an opportunity, even if they don’t immediately convert into a deal. Effectively nurturing leads can make sure no opportunity falls through the cracks. Agents can nurture leads by continuously engaging and developing relationships with prospective leads . It’s important to provide prospective clients with a constant flow of essential and relevant information, depending on where they are in the real estate buying or selling process.

Here are the top lead generation companies for real estate agents and brokers:

Engage more efficiently with buyer and seller leads using Market Leader’s new feature Network Boost. Network Boost has shown a 40% increase in agents successfully connecting with leads. Market Leader social media experts design highly targeted and optimized ads for your Instagram and Facebook. As visitors engage with your ads, they will be prompted to complete a form and funnel directly into your Market Leader client relationship manager (CRM). This will also trigger an automatic marketing campaign that nurtures your clients and lets you know they are ready to engage with you personally. Try Market Leader’s Network Boost today.

6. Calculate Your Income Goal

Your income goal is one of the most critical items to be included in your business plan. While this may be more difficult for new agents who are still learning the business, it’s still necessary to estimate the amount of money you will earn for the year. Work with an experienced agent or mentor to help you estimate your monetary goals. For professional agents, review your previous years to judge your income goals for the upcoming year.

To calculate your income goal and the amount of work you’ll need to complete to get to that goal, you’ll need to have some basic number estimates:

• Net income: The amount of money you will put in your pocket after commission splits with your real estate brokerage.
• Fee split with brokerage: This is the agreed-upon commission split you have with your brokerage for each completed transaction. For example, if you have a 70/30 split with your brokerage, you will collect 70% of the commission, and your brokerage will receive a 30% commission for each deal.
• Estimate of completed deals per year: You also want to estimate the number of deals you intend to complete yearly. Remember that some months will be busier than others, so make sure to account for holidays, weather, and your schedule.

Real Estate Yearly Goal Calculator

By figuring out these numbers, you can give yourself a realistic number for your income goal. Compute the gross income commission (GCI) or amount of money you must make before the commission splits and the average profit per deal and month you’ll need to reach your goal.

For a more detailed breakdown of your yearly goal, download and use our yearly goal calculator. Input your information into the highlighted yellow boxes, and the spreadsheet will automatically calculate the GCI, total deal count, and gross income you’ll have to earn each month to reach your goal. Adjust the average gross commission per deal and brokerage split as necessary.

FitSmallBusiness Year Goal Calculator

For additional information on real estate agent salaries, review our article Real Estate Agent Salary: How Much Do Real Estate Agents Make?

7. Set Times to Revisit Your Business Plan

Business plans are only effective if you use them. A business plan is a roadmap for your business, and you’ll need to revisit it often to ensure you’re staying on track. It should be a constant resource to guide you through meeting your goals and business objectives, but it’s not necessarily set in stone if you need to make any changes.

Agents should revisit their business plans monthly to measure progress and make any changes to stay the course. If you find that you’re missing the times set for your goals, then you should continue to revisit your business plan regularly. Changing the business plan itself should occur annually once you can have a complete picture of your yearly performance. Evaluating the business plan can help you discover new strategies and ensure you have the appropriate resources for the upcoming year.

Overall status of sales activities in the dashboard (Source: Pipedrive )

Sales software like Pipedrive can help you track your overall business performance when revisiting your business plan. It presents company sales data in easy-to-visualize dashboards that track your business performance and contains forecasting tools to project future revenue. It can maintain company and team goals with progress tracking to keep goals top of mind.

Visit Pipedrive

Read how our experts feel about this real estate customer relationship manager (CRM) system in our Pipedrive review .

Why Agents Need a Real Estate Business Plan

A real estate business plan keeps you up to date on market developments and one step ahead of your competitors. It also enables you to test lead-generating tactics and create new marketing campaigns while keeping track of results over time. A solid business plan for a real estate agent presents the following:

• Where you are at the moment
• Where you would like to be
• How you’re going to get there
• How to evaluate and measure your performance
• When and when to correct the course

Real Estate Business Plan Examples & Templates

Real estate agents and brokerages don’t have to build their business plans from scratch, as many resources provide different examples. Business plan templates can also have different objectives. Some are used to secure financing or help you focus on lead generation, while others are single-page plans meant to get you started.

Here are five real estate business plan examples you can use to create yours:

Lead Generation & Income Plan

Market Leader business plan example (Source: Market Leader )

This business plan is from Market Leader, a third-party lead generation platform. It specializes in lead generation, marketing, and converting leads into customers with an attractive IDX (Internet Data Exchange) website and robust automation tools. Agents can also participate in purchasing leads through their lead products to receive a guaranteed number of leads per month.

A Single-page Business Plan

Business plan for real estate (Source: PngFind )

Agents who are new to writing a business plan can start small. Business plans do not have to be multipage to be effective. This single-page business plan helps identify a single goal followed by three areas to focus on and five objectives for each focus area. As real estate agents begin to feel comfortable with goal setting and completion, they can continue to add to this single-page business plan with duplicate pages, identifying additional goals.

Business Plan for Real Estate Brokers

Real estate broker business plan (Source: AgentEDU )

This robust real estate broker business plan is designed to address organization and management goals. It contains pages identifying personnel information like title, job description, and salary. The business plan also encourages the broker to identify operational goals for future personnel changes. It’s best suited for a broker with a larger team to help drive operational change.

Business Plan With Detailed Financials

Example of real estate agent business plan template (Source: FinModelsLab )

This multipage business plan contains eye-catching graphics and detailed company financial information for real estate agents and brokers seeking funding from outside investors. One of the last sections of the business plan is a financial planning section geared toward showing how viable your business is through your provided income statements, cash flow, and balance sheet reports.

Real Estate Developers’ Business Plan

Realtor business plan template sample (Source: Upmetrics )

Upmetrics’ real estate business plan templates are easy to edit and share and contain professional cover pages to help agents convert their business ideas into actionable goals. The business plans from Upmetrics are geared toward agents looking to transition into real estate development. This plan includes vital sections important for a developer to analyze, such as building location, demand for housing, and pricing.

Real estate CRM (Source: Market Leader )

Market Leader’s business plan is centered around driving more business through lead generation. It helps agents understand their lead sources, average sales price, and how much commission was earned in a given year. It also allows agents to set income and transactional goals for the following year.

Visit Market Leader

Bottom Line

Whether you are a new real estate agent or looking to grow your brokerage, writing a real estate business plan template will help you define the steps needed to build a successful business . It serves as a guided roadmap to help you achieve your business goals, identify areas of improvement, and provide guidance in all aspects of your business, from marketing, operations, and finance to your products and services. Business plans can help determine if your business is viable and worth the financial investment.

Frequently Asked Questions (FAQs)

What is a real estate business plan.

A real estate business plan is a document that presents an outline of your organizational goals. A business plan lays out future company goals and structured procedures to achieve them. Business plans commonly contain plans for one to five years at a time, though they can differ from investor to investor.

A real estate business plan will put you in a position to succeed while also assisting you in avoiding potential pitfalls. It serves as a guide to follow when things go as expected and when they diverge from the initial plan of action. Also, a real estate business plan will ensure that investors know the steps they need to take to succeed.

How do I jump-start my real estate business?

It is important to note that starting a real estate business is not a simple task. Before launching a firm in any field, entrepreneurs should spend numerous hours researching and developing a solid business plan. As you start your real estate business, use the following tips as guidance:

• Think about your professional goals
• Conduct extensive research
• Organize your finances
• Create a business plan
• Establish an LLC
• Make a marketing plan
• Create a website
• Start campaigns
• Keep track of leads
• Develop a network of connections

How can I grow my real estate business?

You can use multiple strategies and ways to grow your real estate business. They include:

• Assess your current situation
• Invest in your professional growth
• Establish strategic alliances
• Take advantage of omnichannel marketing
• Start blogging
• Create consistent social media profiles and campaigns
• Improve your website
• Consider working with a marketing company
• Optimize your signs and direct mail

About the Author

Find Jealie On LinkedIn

Jealie Dacanay

Jealie is a staff writer expert focusing on real estate education, lead generation, marketing, and investing. She has always seen writing as an opportunity to apply her knowledge and express her ideas. Over the years and through her internship at a real estate developer in the Philippines, Camella, she developed and discovered essential skills for producing high-quality online content.

Join Fit Small Business

Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you. Select the newsletters you’re interested in below.

Building a Solid Foundation: How to Create a Real Estate Business Plan That Works

A killer real estate business plan isn't just about setting a goal to hit 1 million in sales next year. (It would be a lot easier if it were!) 

A truly great real estate business plan defines exactly what drives your business, where you're headed, and how you'll navigate the market's unpredictable currents. It should be a razor-sharp action plan to scale your real estate empire. 

So, how do you craft this master blueprint without getting bogged down in the details? 

If you’re ready to join the cast of Million Dollar Listings—or if you just want to grow your modest real estate business—we can help.   

We’re going to break down how to create an actionable real estate business plan in just six steps. Your future self, with a thriving real estate portfolio, will thank you. 

What Should a Real Estate Business Plan Include?

A real estate business plan is a comprehensive document designed to help you navigate the ups and downs of the real estate industry and plan for long-term growth. 

TL:DR: A great business plan serves as a complete roadmap to help you get from where you are now to where you want to be. 

So, what should your real estate business plan include? The best plans include these eight sections: 

• Executive Summary: A concise introduction to your real estate venture. Highlight your primary goals, the niche you're targeting, and your unique value proposition in the real estate market.
• Business Description: Discuss the scope of your real estate operations—whether you're focusing on residential sales, commercial properties, rentals, or a mix. Also, mention the regions or neighborhoods you're targeting.
• Market Analysis: Delve into housing trends, regional property demand, and average property values in your selected areas. Study growth patterns and forecast potential shifts in the market.
• Marketing and Sales Strategies: Explain how you'll attract listings and buyers. This might include leveraging MLS, hosting open houses, using digital marketing tactics, or networking at community events.
• Service Offerings: Detail the range of services you plan to offer. This could include buying/selling, property management, consultation, or even staging homes for sale.
• Organizational Structure and Management: As a solo realtor, this might be about your role and responsibilities. If you have or plan to have a team or build a brokerage, describe team member roles, responsibilities, and expertise.
• Financial Projections and Strategy: Outline anticipated earnings from property sales or rentals, operational expenses, and commissions. Factor in marketing costs, licensing fees, and other industry-specific expenses.
• Growth Plan: Since real estate is as much about scaling and expansion as it is about individual sales, describe how you plan to grow—by expanding into new areas and niches, or by adding more agents to your team.

Keep in mind—these sections are suggested, not required. If some of these sections don’t make sense for your business, feel free to drop them. Maybe you want to add something else? If you’re not sure where the heck to start—that’s where this list comes in handy. 

Why Do I Need a Real Estate Business Plan?

Honestly—you don’t have to have a business plan. If you’re feeling good about your business and happy with your growth, feel free to click away. But, if you’re not closing as many deals as you’d like or if you’re just not feeling great about your business’s direction, you might want to stick around. 

In addition to increasing your sales, an effective business plan can help you: 

• Gain a Competitive Advantage : The world is full of real estate professionals. To succeed in this industry, you need an edge. A real estate business plan gives you an advantage in the market because so few competitors will create one. You'll know the exact steps to take to grow your business. Case in point: a well-crafted business plan can boost your chances of success by 12 percent .
• Mitigate Risk: Every new business venture is a risky proposition. Back in 1994, nobody thought Jeff Bezos could sell books online. Now, Amazon is one of the biggest companies in the world, and Mr. Bezos has a cool net worth in the $150 billion range. While your real estate business plan might not help you hit the billion-dollar range, it will help you mitigate risk by helping you identify potential threats and weaknesses.  
• Gain a Deeper Understanding of Analytics: Drowning in data? A great business plan will outline your goals and campaigns, and help you track the metrics that really matter. You can look at your plan in a year and assess your progress toward your goals, and adjust your approach accordingly. This will help you eliminate poor tactics or destructive behaviors and double down on what works for your business.

A business real estate plan also gives you something to celebrate. When you hit the milestones in your plan, reward yourself with a fancy dinner or pop open a bottle of champagne. Treat yo’self. Then get back to selling! 

6 Steps to Create an Effective Real Estate Business Plan Fast 

Now you know what your real estate business plan should include and why they matter. Cool. Now it's time to actually create that killer plan that will help your business grow. Ready? Follow these step-by-step instructions to create a proven plan of action you can use to grow your business.

1. Start With Your Story

Who are you as a real estate professional? Are you a master of landing the right deal? Love helping families find their forever home? 

All good business plans start with a story that explains who the individual or company in question is, what they do, and the business goals they want to achieve.

To accomplish this, make sure your business plan includes:

• An executive summary: A sentence or two that summarizes what your business does.
• Your mission statement: A few sentences that explain why you do what you do.
• Your vision for your business: A couple of sentences that illustrate what the world will look like once you've achieved your mission. 
• The SMART goals you want to achieve: The individual objectives you'll work to accomplish, i.e., "Sell 15 homes next year," or "Make $150,000 annual salary." Remember, the best goals are SMART, which stands for specific, measurable, achievable, relevant, and time-bound. 

2. Research Your Target Market

Which area of the real estate market do you specialize in? Do you sell high end luxury condos? Help businesses find the right place to expand? Maybe you’re all about helping folks find tiny homes. 

To answer this question, I suggest a fair bit of research—especially if you're brand new and don't have an established client base. Look for sections of the market that are growing and ones that are slowing down.

It's important to look at data for the location you’re serving . Nation-wide trends are useful to a point. But you really need to know what's happening in your corner of the world.

Also, research your city's other agents, brokerages, etc., as you'll compete with them for potential clients. The more you know about them, the easier it will be to differentiate yourself and achieve your short and long-term goals in the real estate industry.

3. Identify Your Ideal Clientele

Now it's time to zero in on the specific people you sell to.

There are plenty of options. You could be a condo specialist and only engage new leads who want to buy condos in your area. Or focus on real estate listings for new home buyers. Or work in the top end of the market and help wealthy individuals settle into their second homes. You do you. 

The specific demographic you choose to serve should depend on the local market, your unique skill set, and your passions. Find a balance between these three things.

When you know your ideal clientele, take a moment to define buyer personas .

Not familiar with the term? Don’t worry—it's not as weird as it sounds. A buyer persona is a fictional person you invent to represent your real-world target market. Feel free to get weird with it—your persona could be Fred the Family Man, or Suzy the Soup Maker. Just be sure to include personal details, such as goals and pain points to make it useful. 

While it may seem silly, a buyer persona keeps you focused on your ideal clientele so you can ensure your marketing efforts always match the people who want to help. 

4. Perform a SWOT Analysis

A SWOT analysis helps you pinpoint your strengths and weaknesses and find the opportunities and threats in your chosen real estate market. Think of it like a battle plan to help you conquer your real estate market. Here's a quick example:

• Strengths: Maybe you have amazing people skills, so you host open houses for your clients on a regular basis. This helps you meet potential buyers and sell clients' homes. It also acts as a terrific lead generation strategy . Or, maybe you’re really, really good at staging older homes. 
• Weaknesses: Maybe you hate social media, so you never use platforms like Facebook and Instagram—even though other agents use them to close deals . This would be a weakness, but it doesn’t mean you need to change things. Instead, acknowledge it and adjust your strategy accordingly. 
• Opportunities: If most of the real estate professionals in your town focus on low- to mid-priced real estate listings, you could target the small collection of luxury buyers in the area.
• Threats: Are there a ton of other real estate agents in your area? Maybe a nationwide brokerage is opening a new office and threatening to take your knees out with a bat. (Who knew real estate could be so brutal!) The point is: being aware of threats helps you target your services effectively so you can become a real player in the game. 

5. Set a Clear Marketing Strategy

You might run the best real estate brokerage in the United States. But if nobody knows about your real estate team's supreme skill set, you’re not likely to make many sales. Which won’t be an issue if you’re running a mob front—but if you actually want to make a profit, marketing is crucial. 

Fortunately, you've defined your target market, ideal clientele, and personal strengths and weaknesses. So, building an effective marketing strategy should be easy. 

Think about your target audience: how can you reach these people? Social media is probably your best bet if you serve young, first-time homebuyers. If you serve an older, more affluent crowd, in-person meetups and cold-calling techniques might be a good option.

Consider your competitors, too. What channels do they use to connect with new leads? Use another approach to differentiate your services better.

Finally, take a hard look at your abilities. Just because a marketing plan works for one person or company doesn't mean it will work for yours. Since you're building your business, you need to assess your strengths and weaknesses. This will help you implement strategies that suit your skills and disposition.  

6. Make a Financial Plan

Yes, we gotta talk about money. Adding financial details to your real estate business plan gives you a strong starting point to drive growth. 

How much will you spend on licensing, lead generation, and a real estate CRM ? Remember to budget for everyday expenses while working, like gasoline for your car and meals while traveling. (Just no two martini lunches!) 

You should also include the amount of money you want to make after expenses and taxes and the number of deals you'll need to close to make the numbers work together.

Most people shy away from their finances. Don’t make this mistake. You need to know what your operating expenses are to know what your cash flow is. If you don't know that, you won't know if you're on track to reach your short-term or long-term goals.

One more thing: make sure your financial plan is realistic . Dreaming of million-dollar closings might feel nice, but those numbers won't help you. Do your research and input proper cost estimates. 

3 Tips to Create a Real Estate Business Plan That’s Actually Useful 

BOOM! Now, you know how to create a business plan for your real estate business. Go you. But to make sure your plan is top-notch, keep these three best practices in mind:

KISS: Keep it Super Simple

It’s easy to get lost in the weeds and wind up overwhelmed. Don't overcomplicate the process.

Your real estate business plan doesn't need to be professionally designed unless it’s being shared with business partners or investors. You can write it in Word on your laptop computer. Or scribble it on a napkin while you sip a cocktail at the bar. Whatever feels good to you. 

The most important thing is that you actually create a plan for your real estate business . The way it looks is less crucial. Don't get caught up in the details. 

Differentiate Yourself

What makes you special? No, not just in the “My mom says I'm special!” way. Like, what really makes you stand out from the other real estate agents and brokers in your local area?

Ask yourself questions like " What can I do better than everybody else?", “Why would clients want to work with me over another agent?” or "What am I willing to do that my competitors aren't?"

Did you come up with a few things? Good, now add them to your real estate business plan.

Being average is boring—so figure out where you stand out. Then, infuse it into every aspect of your business, from your website to how you engage with clients. That way, people know what sets you apart.

Revisit Your Plan Regularly

One more thing: your real estate business plan should be a living document. In other words, you should revisit it regularly to make sure it's actually benefiting your business.

Did you choose the right market? Are you serving the right clientele? Is your marketing plan actually working? Assess your business quarterly to see what's working and what isn't. Then use the takeaways to adjust your approach. That way, you can “always be closing” more deals. 

Level Up Your Real Estate Business 

If you want to build a successful real estate business, you need a plan. Luckily, you’ve already got one. 

Once you create your plan, you'll have a clear vision you can implement systematically to grow your business faster.  

Know what else will help you succeed in this industry? A solid CRM software with proven contact management, cold calling, email marketing, and sales reporting features.

Sound good? Give Close a try. We make it super easy to track leads, follow up with prospects, generate referrals, and turbocharge your real estate business.

Sign up for a free 14-day trial today to experience the power of Close!

START YOUR FREE 14-DAY TRIAL→

Actionable sales advice

Get actionable sales advice read by over 200,000 sales professionals every week.

One moment please...

• Lead Generation

Creating a 2023 real estate business plan

• February 1, 2023 | 3 minutes

“No plan survives first contact with the enemy.”

The famous quote is beloved by business planning cynics. And it’s true – but it’s irrelevant. Consider, for example a football coach – is he to ignore strategy and just let the team make it up as they go along? Certainly, there’s an opposing team with its own strategy to deploy. But without planning, both sides are just running around aimlessly, just hoping the ball will land close by.  So, to toss in another quote, “plans are nothing; planning is everything.” 

Identify the enemies to your growth

As you head into 2023, what’s your ‘enemy’?  We would suggest that among the biggest enemies are uncertainty, global disruption, fiscal chaos, and natural disasters. A sound business plan recognizes elements like these – things we can’t influence – but focuses on what we can measure and achieve.

The Road map – get it before you need it

A Business Plan is a road map for your business. When you drive on a freeway, a map might seem superfluous. Now imagine it’s dark, and you take the wrong exit, finding yourself on a winding road with little lighting.  Now you need that road map, but it’s too late.  Similarly, a real estate agent may start the year off with a couple of closings and feel that 2023 is going to be a good year. No need to do the planning. Just ‘roll with it.’  Now let’s add to some of those ‘enemies’ identified above; a marketing campaign that failed to deliver; a series of natural occurrences that impact your market – forest fires, flooding, subsidence. Without planning – financial, business continuity, personnel – these ‘perfect storms’ could fatally impact your real estate business.

Similarly, when opportunities for growth arise, a good plan will allow you the flexibility to take advantage of them. A partnership with a real estate agent in an adjacent area or with a complementary skillset; a new subdivision that requires a new level of service; an exclusive property needing significant investment in video, online and face-to-face marketing.  With a business plan you’re in a stronger negotiating and development position.

If you can’t measure it….

Economist W. Edwards Deming (or was it guru Peter Drucker? Nobody’s sure) said, “If you can’t measure it, you can’t manage it.”  Nowhere is this more important than that in real estate business planning. A well-developed and realistic plan should form a strong foundation upon which to build a flexible, responsive, resilient and profitable business.  The goals and objectives you incorporate into the plan must be realistic, attainable, and measurable. If you’re on a team, they should additionally be communicable. 

These goals and objectives should touch every aspect of your business. For example:

• Listing appointments 
• Listings secured
• Average days-on-market
• New buyers contacted
• New buyer contracts
• Closings, both listing and buying
• Events attended/planned
• Additions to database
• Personal development, health, nutrition goals
• Gross and net income
• Anticipated expenses: office, marketing, recruitment

The Plan: Be honest

There are many templates for building out a plan: NAR has a checklist with the 7 components of a business, starting with a detailed, honest analysis of your business strengths, weaknesses, opportunities and threats, known as a SWOT analysis.  

The most important feature of the plan is that you are brutally honest with the inputs. If, for example, real estate is a part-time business for you, either by design or because your market is seasonal, recognize that this will affect all your metrics, top and bottom lines, and your expected outcomes.  If, alternatively, your market is growing rapidly and you will need additional help to manage it and maintain an expected level of service, recognize that and the associated costs involved in recruiting, training. and managing new people.

Typically a real estate business plan contains the following:

• Executive summary
• Description of your company – its history, location, key staff
• Expand on each, especially your strengths in your chosen market
• Headcount strategies (could be a combination of full time, part-time and consulting people)
• Goals and objectives outlined above
• Leverage growth tools we provide at Realtor.com
• Financing requirements to implement and execute these goals and plans.

Don’t Just File It

The creation of a real estate business plan for 2023 should require a deep examination of your current business and an honest assessment of the opportunities open to you this year. Don’t let this document go to waste: set aside an hour each week to review it quickly – make it a fixed agenda item during team meetings if you’re the team leader.  

The goals and objectives discussed earlier should be constantly reviewed and actual results compared to your plan.  A sound and achievable plan will be underpinned by business and marketing strategies – a good place to turbo-charge your lead generation is our Connections Plus solution.  Connections Plus helps you to successfully capture, communicate and connect  with potential clients, whether they are buying or selling.

You’re not alone, and the creation of the living document that is your 2023 business plan will give you guideposts and mile-markers to bring you successfully to your business destination.

Tagged with:

Must - reads.

Related posts

10 Things Your Real Estate Business Plan Needs (FREE Template)

A real estate agent business plan is essential for success in today’s competitive market. It helps you set clear goals, define your vision, and outline the steps to achieve short-term and long-term objectives. As a real estate professional, having a well-crafted business plan can be the difference between being a top producer and struggling to make ends meet.

In your business plan, you’ll want to start by creating a vision statement that outlines the purpose of your real estate business and reflects your values. Setting firm goals will help you stay accountable and focused, allowing you to adapt to market changes or growth and remember that your business plan should be fluid and up-to-date to stay aligned with your ultimate objectives.

Your real estate agent business plan should be thorough, covering various aspects such as market analysis, organization structure, and marketing strategies. By having a comprehensive plan, you’ll be better equipped to navigate the challenges and seize the opportunities that come your way, ensuring your real estate business flourishes.

Understanding Your Target Market

Identifying your ideal client.

Understanding your target market is crucial to establish a successful real estate business plan. Begin by identifying your ideal client. Consider factors that may define your target clients, such as age, income level, family status, and property preferences. Reflect on your strengths as an agent and which clients you connect best with. This will help you focus your marketing efforts and create tailored strategies for your target audience.

Market Segmentation

Market segmentation divides your target market into smaller, more specific groups based on shared characteristics. In real estate, you can segment your market into categories such as:

• First-time homebuyers
• Empty nesters

By segmenting your market, you can tailor your services and communication strategies according to the unique needs of each group. This will lead to more effective marketing efforts and a better understanding of your potential clientele.

Analyzing Local Market Trends and Opportunities

Gather data on your local real estate market to identify trends and opportunities for your business. Analyze factors like:

• Market growth
• Market saturation
• Local property values
• Employment rates
• Infrastructure development
• Population demographics

By analyzing local market trends, you can identify areas with potential growth or areas that are becoming overly saturated. Use this information to adapt your services and expertise to market conditions, helping you stand out among competitors and position yourself as an expert in your niche.

Remember, a comprehensive understanding of your target market is essential for shaping your real estate agent business plan. By identifying your ideal clients, segmenting the market, and analyzing local market trends and opportunities, you’ll be better equipped to create tailored marketing strategies and make informed business decisions. This will ultimately contribute to the success and growth of your real estate business.

Lead Generation Strategies

Building an online presence.

To create a robust lead generation plan, build a strong online presence. A real estate agent must have a well-designed and user-friendly website to capture leads. Keep these factors in mind:

• Make sure your website reflects your branding and expertise
• Optimize your site for search engines to enhance its visibility in search results
• Include clear calls-to-action (CTAs), so potential clients can easily contact you
• Utilize high-quality images and videos to showcase properties
• Share helpful and informative content through a blog or resources section

You can also leverage social media channels to expand your reach and showcase your expertise in the industry. Focus on the platforms most relevant to your target audience and share valuable content related to real estate, local events, or home improvement tips.

Networking and Referrals

Building a strong professional network is essential for generating quality leads. Here are some strategies to boost your referral pipeline:

• Attend networking events, conferences, or workshops in your area. Engage with professionals in real estate or related industries
• Establish relationships with local businesses and community organizations
• Hold open houses or host educational seminars to engage potential clients in person
• Develop relationships with past clients and ensure you stay top of mind so they recommend you to their connections

Additionally, create a referral program that rewards clients and other referrers for sharing your services with their network. This will incentivize them to talk about you and help expand your reach.

Traditional Marketing Methods

Despite the increasing importance of digital marketing, traditional methods still have their place in generating leads for real estate agents:

• Send direct mail campaigns, like newsletters or postcards, to targeted neighborhoods, highlighting your strengths and successes
• Advertise in local print media, such as newspapers or specialized real estate publications
• List your services and properties in industry-specific directories, both online and offline
• Design and distribute eye-catching flyers, brochures, and business cards
• Participate in community events or sponsor local charities to enhance your company’s reputation and visibility

Make sure to keep track of the effectiveness of each lead generation method and evaluate their strengths and weaknesses. This will help refine and improve your overall marketing strategy and ensure you invest resources into the most productive channels.

Lead Conversion Techniques

Building rapport and trust.

To build rapport and trust, focus on the following:

• Be genuine and authentic with your prospects, showcasing your expertise and knowledge.
• Listen actively, taking the time to understand their concerns and needs.
• Display empathy towards their situation, offering tailored solutions for their specific problems.
• Stay engaged through the entire process, from the first interaction to closing.

Qualifying Leads

When it comes to qualifying leads:

• Ask open-ended questions to gauge their needs, timeline, and motivation for buying or selling
• Inquire about their financial situation and any potential barriers they may have
• Learn more about their preferred neighborhoods, housing type, and other preferences
• Prioritize leads based on their level of interest and readiness to move forward

Effective Communication and Follow-Up Strategies

For better communication and follow-up:

• Establish a consistent schedule for checking in on leads, such as every few days or weekly
• Personalize your communication, tailoring messages to each lead’s unique situation and preferences
• Practice active listening and respond thoughtfully to their questions or concerns
• Utilize several communication channels, including email, phone calls, text messages, and social media

Utilizing CRM Systems for Lead Management

Leveraging CRM systems can help you organize and optimize your lead management process:

• Track important lead information and interaction history in a centralized location
• Set reminders for follow-up tasks, appointments, or important milestones
• Analyze your leads’ behavior to understand their needs better and provide personalized service
• Create targeted marketing campaigns to engage your leads and nurture them toward conversion

By implementing these techniques and focusing on leads, marketing strategies, and communication, you’ll be well on your way to creating a thriving real estate agent business.

Closing Deals and Earning Commissions

Negotiation tactics.

When closing deals, it’s crucial to employ effective negotiation tactics to help both you and your client reach a favorable outcome. Some negotiation tactics include:

• Understanding the market: Know the local market trends and use this information when discussing price adjustments or concessions.
• Compromise: Find common ground and offer reasonable solutions to meet both parties’ needs.
• Leverage: Use your expertise in the real estate industry to highlight your client’s strengths and make convincing arguments.

Handling Objections and Overcoming Challenges

As a real estate agent, you’ll encounter objections and challenges in closing deals. To address them efficiently, consider the following points:

• Listen to the client’s concerns and empathize with their situation.
• Identify the objection: Determine the root cause of the objection and respond with a compelling solution.
• Maintain professionalism: Stay calm and composed, avoiding confrontational behavior.

Preparing and Presenting Offers

Presenting a well-prepared offer is vital to increasing the chances of closing a deal. Keep in mind:

• Research: Analyze comparable properties in the area to establish a competitive price for the offer.
• Documentation: Ensure that all necessary documents, such as pre-approval letters and proof of funds, are in order.
• Presentation: Employ clear and concise communication when presenting the offer, highlighting its benefits to the seller.

Managing the Transaction Process and Paperwork

Effectively managing the transaction process and paperwork helps keep the deal on track, which includes:

• Organization: Maintain an organized system for tracking important deadlines and required documents.
• Communication: Regularly update all parties involved in the transaction, ensuring they know the progress and address any concerns.
• Attention to detail: Ensure all forms, contracts, and other documents are accurate and complete.

By successfully closing deals, you’ll earn commissions based on your agreed split with your broker. For instance, if you close a deal worth $350,000 with a 6% commission rate, the gross commission income will be $21,000. If your commission split with your broker is 70/30, you’ll earn $14,700 while your broker receives $6,300. Utilizing the strategies discussed in this section will help you maximize your commission income and prove beneficial to your real estate business plan.

Client Retention and Building Repeat Business

Maintaining client relationships after closing.

Building lasting relationships with your clients is essential for repeat business and referrals. After closing a deal, continue to provide value by offering support with any post-closing issues, such as paperwork or maintenance concerns. Keep in touch with your clients and remember important milestones, such as anniversaries or birthdays. Show appreciation for their trust in you by sending thoughtful gifts or cards or simply checking in periodically.

Asking for Referrals and Testimonials

Word-of-mouth marketing is an incredibly powerful tool in the real estate industry. Encourage your satisfied clients to share their positive experiences with friends and family. To achieve this, be proactive in asking for testimonials and reviews, which you can later showcase on your website, social media, and other marketing materials. Here are some strategies to obtain them:

• Reach out via email or phone, and kindly request a testimonial or referral
• Provide a simple template to make it easy for clients to write a review
• Offer incentives, such as discounts on future services or gift cards, to show gratitude for their time and effort

Staying Top-of-Mind Through Regular Communication and Updates

Establish regular communication with your past clients to stay top-of-mind and generate repeat business. Keep them informed about the latest market trends, neighborhood developments, or listings that interest them. Here are some communication tactics you can employ:

• Send personalized monthly or quarterly e-newsletters
• Share relevant content, such as articles or videos, on your social media platforms
• Organize events, like client appreciation parties or educational seminars, to maintain connections and foster new ones

Maintaining client relationships, requesting referrals, and staying top-of-mind through regular updates will strengthen your real estate business with repeat clients and new prospects. Remember, satisfied customers are the key to long-term success in the real estate industry.

Measuring Success and Adjusting Your Strategies

Setting goals and key performance indicators (kpis).

To measure the success of your real estate agent business plan, start by setting SMART goals (Specific, Measurable, Achievable, Relevant, and Time-bound). These can serve as benchmarks for success and provide direction on areas to focus your efforts. Consider setting goals for various aspects of your business, such as sales volume, new client acquisition, and customer satisfaction.

In addition to your goals, establish key performance indicators (KPIs) to track your progress. KPIs are quantifiable metrics that help you evaluate the effectiveness of your strategies. Examples of KPIs for a real estate agent business plan include:

• Number of new leads generated per month
• The conversion rate of leads to clients
• Average days on market for properties
• Percentage of listings sold

Tracking and Analyzing Results

With your goals and KPIs established, continually collect and analyze data to track your progress. Regularly monitoring your results allows you to identify trends, spot potential problems, and evaluate the effectiveness of your marketing efforts. Some methods to track your data include:

• Using a CRM system to manage client relationships and interactions
• Employing analytics tools to evaluate the success of digital marketing campaigns
• Conducting a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) to identify areas where you excel or need improvement

Pay close attention to competitor performance and market trends to better understand how your strategies compare and identify any gaps you may need to address.

Adapting and Optimizing Your Strategies Based on Data

Once you’ve gathered and analyzed your data, use insights to adapt and optimize your strategies. Make data-driven decisions to improve your marketing efforts, streamline processes, and better allocate resources. Some steps you can take include:

• Adjusting your marketing budget and tactics based on your marketing ROI
• Revisiting your goals and KPIs to ensure they still align with your overall business objectives
• Fine-tuning your pricing strategies or the type of properties you focus on to meet market demand better

Maintaining a proactive approach to adjusting your strategies will keep your business plan agile and responsive to the changing real estate market. This will go a long way in helping you achieve the success you envision for your real estate agent business.

Time Management and Organization

Prioritizing tasks and setting a daily schedule.

In your real estate agent business plan, it’s crucial to have a time management and organization strategy. Start by prioritizing tasks that align with your [business goals]. Break down tasks into daily, weekly, and monthly goals. Then, create a daily schedule following the block scheduling method:

• List your key tasks for the day.
• Assign specific time blocks for each task.
• Stick to the schedule and avoid multitasking.

You’ll notice increased productivity and improved time management with this approach.

Using Productivity Tools and Apps

Take advantage of productivity tools and apps to help you stay organized and manage your time efficiently. Some popular tools for real estate agents include:

• Calendars: Apps like Google Calendar or Outlook can help schedule appointments and manage deadlines.
• Task Managers: Utilize tools like Trello, Asana, or Todoist to manage your projects and collaborate with your team.
• Time Tracking: Apps such as Toggl or Harvest provide insights into your work habits, helping you identify areas for improvement.

Remember to limit the number of tools you use to avoid digital clutter and duplicate information.

Delegating and Outsourcing Tasks When Necessary

As a real estate agent, delegating and outsourcing non-core tasks is essential to focus on your primary responsibilities. Here are some tasks you can consider delegating:

Identify areas where your expertise may not be as strong or where your time can be better spent, and consider outsourcing those tasks to professionals. This approach will help you manage your workload and improve the quality of your services.

Ongoing Education and Professional Development

Staying up-to-date with industry trends and changes.

To stay competitive in the real estate market, you must keep up with industry trends and changes. By monitoring resources like the National Association of Realtors (NAR), California Association of Realtors (CAR), and multiple listing services (MLS), you can stay informed about the latest developments in your field. Set aside time to read industry publications, attend webinars, listen to podcasts, and follow industry-leading professionals on social media.

Pursuing Relevant Certifications and Designations

Continuing education is crucial for staying current in the fast-paced real estate industry. Pursue relevant certifications and designations to add credibility and value to your practice. Organizations like NAR and CAR offer various designations demonstrating your expertise and commitment to professionalism to clients and colleagues.

Examples of real estate certifications and designations include:

• Accredited Buyer’s Representative (ABR)
• Certified Residential Specialist (CRS)
• Green Designation (Green)
• Seniors Real Estate Specialist (SRES)

To obtain these certifications, you must complete specific coursework, pass exams, and maintain membership in the relevant organizations.

Participating in Networking and Learning Events

Engaging in networking and learning events within the real estate community can help you build relationships, share ideas, and learn from the experiences of others. Attend conferences, workshops, and local meetups relevant to your niche, region, or areas of interest. Not only will this enhance your industry knowledge and skills, but it can also be an opportunity to form valuable connections that will benefit your business growth.

In summary, staying up-to-date with industry trends, pursuing certifications and designations, and participating in networking events can help you maintain and develop your skills as a real estate professional. Committing to continuous learning and professional development is essential to ensure your long-term success in the real estate business.

A well-structured business plan is essential for success as a new real estate agent. With a solid plan, you can set your goals, identify your target market, and analyze your competition. A comprehensive business plan lets you plan your marketing strategies, map your operating expenses, and create revenue projections.

To get started, consider using a business plan template tailored to real estate agents’ needs. This will give you a framework to follow as you develop your plan.

Developing a business plan is just the first step in the process. You need to take action and implement your strategies to realize your goals and achieve success. Revise your plan regularly, adapting and updating it as needed. This will ensure you stay on track with your goals and remain competitive in the ever-changing real estate market.

As a new real estate agent, taking bold steps toward your objectives may feel intimidating. However, trust your plan, apply your outlined strategies, and stay persistent. Your dedication will pay off in the long run.

Starting a career in real estate can be challenging, but you don’t have to face the journey alone. There are numerous resources and support networks available to help new real estate agents excel:

• Professional networks : Join local real estate associations and online forums to connect with experienced agents, ask questions, and expand your knowledge.
• Mentors : Seek accomplished real estate agents who can offer guidance, share valuable experiences, and provide personalized advice.
• Training and education : Keep your skills fresh by attending workshops, participating in webinars, and pursuing continuing education courses relevant to your field.

By leveraging these resources and committing to your business plan, you are setting yourself up for a successful career in real estate. Don’t forget to celebrate your achievements along the way and take pride in your progress. Now is the time to take action; you will surely achieve your goals with determination and hard work.

Would You Like To Partner With Me?

I’ve helped hundreds of real estate agents, team leaders, & brokers all over the country increase their sales, online presence, and create scalable systems. I would love the opportunity to work with you. Together , we can make this year your best yet!

Similar Posts

How To Invest $100,000 In Real Estate In 2023 (7 Powerful Tips)

You have $100,000. You want to invest it in real estate. Where do you even get started? Most people associate “real estate investing” with people who have millions of dollars. But it doesn’t take that much to purchase a rental property. In fact, if you just want to get into real estate investing, you just…

BoldLeads Review: Is This Lead System Worth It For Realtors?

As a new real estate agent, you might be wondering how to find potential leads. While you can focus on your own networking, the internet is filled with untapped possibilities. You can generate leads online through a lead generation solution like Bold Leads. But what are Bold leads reviews like? Bold Leads can help you…

Facebook Ads for Real Estate Agents – Guest Shawn Bell Explains ALL

Facebook Ads for Real Estate Agents: A Guide As a real estate agent, you understand the importance of marketing your properties and services to potential buyers and sellers. With the rise of social media, it’s now easier than ever to reach a large audience online. One platform that offers a powerful advertising tool for real…

Can You Be a Real Estate Agent Without College? Exploring Alternative Paths

As you consider a career in real estate, you might wonder if a college degree is necessary to become a successful real estate agent. The good news is that you don’t need a college degree to enter the profession. This flexibility makes real estate an attractive career option for many people, regardless of their educational…

Chime CRM: Everything You Need To Know Before Purchasing

As a real estate agent, team leader, or broker, you always look for ways to improve your processes and increase your bottom line. A customer relationship management (CRM) is a critical aspect of any business, and having the right CRM software can make a huge difference in your success. However, with so many available options,…

Learn How To Get More Clients As A New Real Estate Agent

As a new real estate agent, one of the biggest challenges you’ll face is building your client base. But don’t worry – with the right strategies and a little bit of effort, it’s entirely possible to attract new clients and grow your business. In this blog post, we’ll be sharing some tips and strategies for…

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Save my name, email, and website in this browser for the next time I comment.

Create a Real Estate Business Plan: Template, Tips & More

A real estate agent business plan is a document that outlines your comprehensive strategy to grow your real estate business. It outlines important milestones of your approach, identifying what your goals are and how you will achieve them.

Because of the nature of the real estate business, you can construct plans as a broker, agent, etc. There are several ways to focus your goals and tactics when you are writing a real estate business plan, and each specific role you have will change what you’re trying to achieve and how you will do it.

It’s fundamentally important to remember that in real estate, there are two things to keep on the top of your mind:

• You are your own boss and manage your own business.
• Being busy doesn’t always mean that you’re making money.

Combining these two important thoughts leads us to one conclusion — that having a written-out plan will help determine what you’re trying to accomplish and will help keep you committed to a specific plan of action. A business plan for real estate agents is sure to help you identify measurable goals while helping you stay on a predetermined route to reach your ambitions.

Additionally, a plan will identify prospective issues you expect to run into and how you plan to overcome them. The plan will assign roles and responsibilities, and allow you to measure your success as your business progresses.

It’s important to know that you’re not in this alone – we have an experienced team of coaches who can help you  create a real estate business plan that makes it simple and easy.

Why Create a Real Estate Business Plan?

Studies  have shown that creating a business plan for real estate can increase your chance of success by 12%. Additionally, it can raise your chances of success by 27% when you commit to writing a real estate business plan and combine it with other things like talking to prospective customers, making marketing materials, and getting yourself ready for business.

What’s more, you will be taken more seriously by potential business partners, brokers, and banks because you have dedicated time to sit down and devise a written plan that precisely outlines the actions you plan to take. This shows that you have placed significant personal investment in your business, and gives others peace of mind that they can join you in this venture.

A real estate business plan gives you a clear direction and an operational checklist for identifying your goals. Some questions it will answer are:

• Who is my prospective client?
• How much do I want to earn?
• What do my sales need to look like to reach my ideal take-home pay?
• How will I cover the expenses of my business?

A plan is not set in stone and allows for adjustments as situations arise – but should be thoroughly devised enough to help you overcome foreseeable challenges like identifying leads and finding funding money to get started.

How to Start

Executive summary.

The executive summary of a real estate business plan establishes your hopes and dreams, a broad overview of how you plan to accomplish them, and highlights from the research used to support your decisions.

It should identify who your potential clients are, the areas you plan to focus on, and any potential sales opportunities (for example, the average house in this area is $450k). If there are any competitive assessments, those are also important to note here.

In many ways, consider this your elevator pitch. Given 30 seconds, or the amount of time you were in an elevator with someone, how would you describe your ability to  be profitable in real estate ?

Write a Detailed Business Description

If you’ve ever seen the show, “Shark Tank,” you’d be familiar with how the business owner stands in front of the investors and shares their story about why they should invest in their product. This is the detailed business description of your plan, where you tell what inspired you to get involved in real estate.

The description will highlight the opportunity and how you plan to make the most of it, while answering ‘who, what, when, where, how, and why’. Who is your prospective client? What makes you different and what is your client looking for? When are they typically looking to buy or sell their property? How do they typically start their search or process of selling their home?  Questions like these  will help shape your detailed business description to answer questions that you might not think about at first.

Perform a SWOT Analysis

If you’re unfamiliar with the term “SWOT”, it stands for (S)trengths, (W)eaknesses, (O)pportunities, (T)hreats. When applying a SWOT analysis to writing a real estate business plan, the coined term helps you identify some of the core questions that arise when planning.

Strengths address what makes you different and a better choice than your competition. Will you be more knowledgeable? Have you lived in the area you’re targeting your whole life? Are you a well-known member of the area who already has created a personal brand that will go far in real estate?

Weaknesses address the exact opposite. What things are you lacking? What things do others do better? Naturally, if you’re breaking into real estate, one of the first things you’d note is experience. Having multiple weaknesses isn’t a  bad  thing. It means you’ve identified potential issues and how to overcome them. For example, a new agent with experienced coaches can quickly overcome the example weakness.

Creating a Strategic Real Estate Business Plan

Defining your marketing strategy.

As much as you would like to be the perfect fit for all clients, the reality is that you are going to have a specific type of client that’s going to work the best with you. Maybe it’s someone from a specific area of town, first-time homebuyers, those using specific types of financing options, or those in the Armed Forces.

Identifying your market niche isn’t going to limit you to a specific clientele, but it’s going to direct your marketing and branding so that you’re not throwing lots of things and hoping that something sticks. This means saving time and money by directing your marketing efforts to the most meaningful ways, giving you the biggest bang for your buck.

Understanding the marketing strategy aspect of your real estate business plan will help you know who your target is, what their defining characteristics are, what services they are seeking, and help you understand how to grow those specific relationships.

Understanding  how you will generate leads  is incredibly important in developing your plan. If you don’t have leads, you won’t have sales — which means you won’t make money. Because of the nature of the business, you’ll need to understand how prospective clients start the process (which is usually through looking at things online).

Creating a Financial Plan

An important aspect of writing your business plan will always include money. Here you will identify your expenses, income, and estimate your sales goals. It’s important to create realistic and well-thought-out measurements in this section, to understand how your plan will come together.

When looking at your expenses, consider all things that will change for you on a licensing, personal, and business level. Licensing may seem self-explanatory, but ongoing education, covering multiple states, and other things might pop up. Personal expenses are also easily overlooked — will you need to buy different clothes, will a new smartphone be important to your work, and will your cost of gas rise? Business expenses are things like your broker fees, advertising costs, and other things often charged directly from your office.

A true financial plan is not a rough collection of estimates or guesstimates. It’s a close look at the reality of the costs you will be facing when you choose to start on the endeavor, and a true understanding of what it will take to achieve your goals. One of the basic goals you will look at financially is the ability of real estate to keep you economically profitable in consideration of your time and resources.

Analyze Your Local Competition

In-depth research into your local competition will help you beyond your SWOT analysis. When you’re looking at other offices that might be competing with you, consider what sets you apart and makes you different. Also,  use this competitive insight to grow your brand  and sharpen the services that you offer to clients.

For example, if your focus is on first-time homebuyers, are there any competitors that also have this focus? What do they do that seems to work? What can you offer that they don’t? There are generally four areas that will set you apart in regards to your competition; the product (your brand and focus), the price (your commission and price you seek for your clients), the place (your ideal market you’ve chosen to focus on), and promotion (meaning the way you’ll choose to market to generate leads).

Understand Your Ideal Customer

Understanding your customer is critical in writing a real estate business plan. Without that important link, you won’t meet your goals, your marketing dollars will be wasted, and your time will be spent without result.

The important things to know about your customer are:

• How do you reach them? Will they respond better to emails, texts, or calls?
• What matters to your clients? Is it more space, interior luxury, or location?
• What brand does your client subscribe to? Will they value Walmart or Whole Foods more?
• What matters most to your prospective buyer? Is it space, price, or something else?
• What is your ideal demographic? This is age, sex, etc.

Having a firm grasp on these important things will help you develop your plan so that you can speak to what your market research is telling you. Perhaps your opportunity is in selling new homes in an up-and-coming area, or to military families who have been given new orders near a base. Referrals and leads will always attract outside of your ideal mindset, but this will help you focus your efforts.

Implementing Action Plans

An action plan is a carefully considered set of steps to take in  achieving a specific goal . For example, if your goal is to get ten new leads a month, an action plan will help you get there. An action plan establishes a clear goal and the different things that need to be done to reach your objective.

You might have different action plans for marketing, closing sales, ongoing education and personal development, social media goals, etc. All of these individual action plans will help carry your real estate business plan to fruition.

Evaluating and Revising Your Plan

Your business plan is sure to be a living document as time goes on. With a constantly evolving real estate market, it is critical to stay up to date with the latest news – not only for the industry, but also for the markets you specialize in. As you continue to meet and shake hands with individuals, new doors will open, offering you opportunities that you probably didn’t consider when you originally developed your plan.

For example, maybe you’ve met a developer who’s asked you to help list their properties. What you learn from your clients will be equally important to your plan – if things don’t matter, save time and resources by removing them. Additionally, if there are things missing (like virtual open houses, alternative social media focuses, etc), find a way to incorporate them into your plan.

There’s something to be said for pulling from the experience of others, and  having an experienced real estate coach look over and help develop your real estate business plan is a great way to jump past the typical pitfalls new agents face.  A new agent starting out , dreams of the financial freedom to spend more time with their family and friends. Skipping over the learning curve by having an experienced professional will only help you achieve your goals faster.

• 1×1 Solo Agent (Bi-Weekly)
• 1×1 Solo Agent (Weekly)
• Admin & Ops
• Executive Team
• Brokerage/Corporate
• Group Coaching Programs
• Online Store
• Custom Training Suite
• Orlando – ICC Regional Summit
• Nashville – ICC Regional Summit
• Las Vegas – ICC Regional Summit
• Million Dollar Visit
• Login to your ICC Account

Realtor Business Plan PDF Sample

Use this Realtor business plan pdf sample as a template to follow in order to create your annual business plan and a system for implementation over the course of the year.

Today we are giving you a free Realtor Business Plan PDF Sample to use when creating your own business plan. We are also giving you a free downloadable Action Steps PDF Sample, which supports your business plan. I’m going to break down why these two documents are absolutely necessary for your success this year.

It is essential for real estate agents to create (and implement) a business plan each year. It’s true that people who hit their goals are people who give themselves a process, or as system, by which to make tiny incremental steps to reach their big goal . Along with these free downloads, we will also teach you how to make sure you stick by your business plan, like the top-producing agents do.

VIDEO: Realtor Business Plan PDF Sample

A Realtor business plan pdf sample that works

Top producers live by their annual business plan. They know the powerful effect it has on their success for the year. That said, most real estate agents (low performers) skip it. Usually this is because once a business plan is made, it is forgotten. If you do not implement the plan, obviously it’s a waste of your time. If you want to be a successful Realtor, you need to learn how to implement your business plan like the top producers do. That’s why we are giving you a Realtor business plan pdf sample today. We want to help get you started on the right foot.

Elements of a good business plan

• Simple format. Our 1-3-5 Business Plan makes the 1 big annual goal clear at the top. Then, it breaks that 1 big goal into 3 key focus areas. Finally, there are 5 objectives for each key focus areas.
• SMART goals. The goals outlined on your business plan must be SMART! Specific (GCI, units closed, sales volume), Measurable (based on a number), Achievable (don’t choose a goal too lofty to reach), Relevant (make it meaningful), and Time-bound (give it a due date).
• One page. If your business plan fits on one page, you are more likely to review it throughout the year. It also forces you to be concise and intentional. The one-page format also makes it easy to display at your desk or on a wall of your office.
• Meet, review regularly, and keep yourself accountable. More on this in a moment.
• Action Steps. A good business plan should have an additional document that assigns tasks to people and puts due dates on to-dos. This allows you to timeblock accordingly and pace yourself to accomplish your 1 big goal by the end of the year.

It all starts with 1 big goal

Start your 1-3-5 Business Plan with 1 big annual goal. Make sure that goal is SMART (see above). The more specific the better! When you break down that 1 big goal into 3 key focus areas, those key focus areas must all be in support of that 1 big goal. What key focus areas will help you achieve that 1 big goal? Then, when you create 5 objectives for each key focus area, these need to be actionable and SMART as well. All 15 objectives must be in direct alignment with the 1 big goal at the top of the business plan. You’ll see exactly what we mean when you download our Realtor Business Plan PDF Sample.

Implementation of your 1-3-5 business plan

There are two keys to implement your 1-3-5 business plan. Remember, this process is all about baby steps. The first key is to meet weekly . The second key is to create an Action Steps document to push yourself forward, assign tasks, and add due dates.

1. Team meeting / weekly accountability

If you want a detailed process of how to hold an effective team meeting, pick up The High-Performing Real Estate Team . Good team meetings are focused. In the first half of your team meeting, go over the team dashboard, look at all Activity Based Indicators (ABIs), and hold team members accountable. In the second half of your team meeting, pick a few key objectives on your 1-3-5 Business Plan. See the Realtor Business Plan PDF Sample for some good examples. What is the tiniest, actionable baby step that can be accomplished before your next team meeting? Once those weekly baby steps are chosen and assigned, report back at next week’s team meeting with results.

You are moving forward in baby steps . It’s all about incremental progress. Once you accomplish an objective, you move on to the next. This continues all year long. Make your weekly to-dos as small as possible. (Remember, in this weekly team meeting, we are only talking about your 1-3-5 and the objectives that need to be accomplished to reach that 1 big goal. We aren’t talking about the day-to-day business or customer service issues, or other things going on that might distract you from that 1 big goal.)

Most of the agents and teams that we coach here at ICC accomplish their 1 one big goal halfway through the year. It happens so fast because they take baby steps and suddenly they’ve accomplished their goals. When this happens, you can meet and create a 1-3-5 Business Plan for the rest of the year. When you focus on your business plan and carve out the time to meet weekly and take those baby steps, you meet your goals.

You can do this as a solo agent, yes . But you need to keep yourself on track, and this is hard without group accountability. I recommend that you find a mentor, accountability partner, or coach to push you forward and keep you on track.

2. Action Steps to keep your objectives moving forward

Creating an Action Steps document is great for teams and solo agents alike. The Action Steps document takes each objective that you outlined on your 1-3-5 Business Plan (as shown in the Realtor Business Plan PDF Sample) and assigns each objective to a person with a due date. You’ll have three Action Steps sheets because you have one Action Steps sheet for each of the 3 key focus areas outlined on your 1-3-5 Business Plan.

If you want to ensure that you get stuff done, create your 1-3-5 Business Plan, then create your Action Steps form for each of the 3 key focus areas. Then, you timeblock and add the due dates to your calendar. You will look at your 1-3-5 Business Plan and Action Steps each week, whether its by yourself as a solo agent or at your meeting if you’re a team leader or team member.

FREE DOWNLOAD: Realtor Business Plan PDF Sample

Sign up for our newsletter and receive a free download of our Realtor Business Plan PDF Sample, as well as our Action Plan PDF.

If you can create these two documents to support your 2022 goals, you’re going to be much better at sticking by your business plan. And, ultimately, accomplishing those goals.

Need more help creating your 1-3-5 Business Plan?

Enroll in our online course, Business Planning . This course takes the mystery out of real estate business plan and guides you through the entire process. It includes information and helpful templates for both solo agents and teams of varying sizes and structures.

Want to learn more?

• Enroll in our Business Planning online course. Designed specifically for Realtors, this course will walk you through the creation and implementation of your 1-3-5 Business Plan.
• Read The High-Performing Real Estate Team . You can buy Brian Icenhower’s best-selling book on Amazon .
• Subscribe to The Real Estate Trainer Podcast. You can find it on Apple Podcasts , Google Podcasts , Spotify , Podbean , and anywhere you listen to your favorite podcasts.
• Join the Real Estate Agent Round Table . We are always posting fresh content, including market updates, free templates, and host dynamic discussions with the industry’s top producers.
• Subscribe to our newsletter. In the sidebar of this blog, you’ll see a form to fill out to subscribe. You’ll be the first to find out about our new resources, free downloads, premium online courses, as well as promotions.
• Reach out and talk to an ICC coach. Not sure which of our coaching programs is right for you? Let us help you.

Check out our latest posts:

• Real Estate Recruiting Coach – The RIGHT Way to Recruit!
• 2024 Real Estate Market Update For Q2
• NAR Settlement Agreement Game Plan for Realtors
• NAR Settlement Scripts for REALTORS to Explain to Clients
• NAR Commission Lawsuit Settlement – What it Means to Realtors?
• 1-3-5 business plan
• business plan
• business plan template
• team meetings
• the high-performing real estate team

Best Real Estate Conference.

How to manage a., related posts.

Real Estate Team Business Plan Template

Realtor Business Plan 2023 Template

Brian Icenhower

Brian Icenhower is the CEO and Founder of Icenhower Coaching & Consulting (ICC), which provides customized coaching and training programs to many of the highest producing real estate agents, teams, and brokerage owners in North America. This progressive company also produces online courses, podcasts, training materials, white label training portals, speaking events, video modules, and real estate training books. ICC is one of the largest real estate coaching companies in the world with thousands of clients and a large team of the most accomplished coaches in the industry.

Join the email list to get free content!

• First Name *
• Hidden Are you from the US?
• I consent to receive email and text communications from Icenhower Coaching & Consulting Inc. I consent to receive email and text communications from Icenhower Coaching & Consulting Inc.
• Email This field is for validation purposes and should be left unchanged.

Follow Us on Social Media

Online Courses:

Let's connect

• Last Name *
• What would you like to gain from having a Real Estate Coach? *
• Phone This field is for validation purposes and should be left unchanged.
• Company Name
• Office Phone Number *
• Number of Users & Any Requests: *
• Hidden Are you in the US?
• Comments This field is for validation purposes and should be left unchanged.
• Name This field is for validation purposes and should be left unchanged.

Download Your Event Resources

Share with your network.

• Requirements by State
• Best Real Estate Schools
• Best Schools by State
• Best CE Schools
• Best CE Courses by State
• Real Estate Careers
• Best Exam Prep

How to Create a New Real Estate Agent Business Plan (A Comprehensive Guide)

Last updated on November 14, 2021

Quick note! RealEstateLicenseTraining is partnered with the best online real estate schools. When you sign up using our links, we may get a small affiliate commission. Read how we conduct our reviews here . 

Launching a real estate career without a plan is like going to war without a weapon. 

Having a plan in place, on the other hand, prepares you for the challenges ahead and helps you make wise decisions.

Think of your real estate business plan as a roadmap to your success. Without it, you may be lost and unable to set a clear direction for achieving your objectives. 

But how do you create a new real estate agent business plan? 

Here, we will give you a comprehensive guide to creating a new real estate agent business plan. We’ll also mention the importance of one. 

So let’s get straight into it! 

Why Do You Need A Real Estate Business Plan?

A plan is not always a guarantee for success, but it serves as a tool to help guide your decisions. It articulates your vision, provides clarity on different aspects of your business, reduces risks, and identifies gaps in your strategies. 

Most importantly, a business plan reminds you of your whys and goals, as well as motivates you to work on them.

So you can see why it’s important to have a business plan. 

The 7 Steps to Creating a New Real Estate Agent Business Plan

These are the steps to create a new real estate agent business plan:

• Write an executive summary
• Write a mission statement
• List your SMART goals
• Perform a SWOT analysis
• Know your target clients and competitors
• Develop marketing and lead generation strategies
• Evaluate your business plan

Let’s get into the details. 

1. Write an executive summary

An executive summary briefly outlines your real estate purpose and goals. It is usually one to two pages long, clear, and concise enough to give the reader a quick grasp of the elements of your business plan. Its contents include but are not limited to the following:

• A short description of your real estate properties
• A description of your target market
• A description of your competitors and the advantages you have over them
• A financial summary
• An overview of your business’s growth potential

2. Write a mission statement

Your mission statement should support your real estate goals. If you follow it, you will achieve your vision. It should be short and specific and must include the following:

• What you can offer potential buyers
• The overall value of your service
• Who will benefit from your service

3. List your SMART Goals

SMART stands for specific, measurable, attainable, realistic, and timely. Setting goals with these characteristics will encourage you to stick to them until you reach them. 

This is an example of a SMART goal: “Sell 20 houses in the Bay Area in the first quarter.”

4. Perform a SWOT Analysis

SWOT stands for strengths, weaknesses, opportunities, and threats. SWOT analysis is a framework that evaluates your competitive position based on the four factors. It is a helpful tool in developing a strategic plan. 

Strengths and weaknesses pertain to internal factors, whereas opportunities and threats are external. 

Below are a few examples:

5. Know your target clients and competitors

Identifying your market niche is an essential part of your real estate business plan. Knowing your target clients will help you build realistic and feasible marketing plans. Determining a specific audience also lets you save money, time, and effort.

Below are some questions you need to ask yourself when identifying your target market:

• What is the demographic of your ideal clients? (Age, location, and status.) 
• What do they do for a living, and what is their household income?
• What are their defining characteristics?
• What are their preferred modes of communication? (Phone call, e-mail, text message, or via an instant messaging application)
• Which businesses do they currently use for their real estate transactions? Who are your competitors?

Once you know your competition, It is worth asking yourself these questions:

• What are your competitors doing better?
• What channels do they use for their marketing campaigns? 
• How well do these channels work for them?
• Are there any methods your competitors have not tapped that may potentially work to your advantage?   

Knowing your competition will allow you to strategize plans on how you can outperform them.

6. Develop marketing and lead-generation strategies

The next step is developing your strategies. 

Create a detailed action plan on how you will promote yourself to your target clients. 

They can be a combination of traditional and contemporary methods. Also, you can devise a strategy based on what you’ve previously learned from studying your competitors.  

For example, when building an online presence, think of the lead-generation techniques that you plan to integrate into your website or social media page. 

Will you be focusing on outbound marketing? Or, will you take on a more organic approach, such as SEO (search engine optimization)?

Your lead generation methods may change, but including initial strategies in your business plan will help you identify which ones work and which ones don’t.

7. Evaluate your business plan

Finally, your business plan shouldn’t be static. The industry evolves, the market fluctuates, and so should your plan. It should stay relevant and be able to adapt to constant changes. 

Now that you know how to create a new real estate agent business plan, it’s time to get down to writing it. Any more time you spend without a concrete business plan could mean increased risks and wasted opportunities. 

Don’t drag it out. The sooner you finish your business plan, the better. Remember, the old saying holds true; if you fail to plan, you plan to fail.   

Compare Real Estate Schools:

Additional real estate license guides you might like

January 16, 2024

Best California Online Real Estate School – Top 8 Reviews

Instead of just giving you the best California online real estate school, I’m going to

September 28, 2023

How to Become a Mortgage Loan Officer (MLO) in Hawaii

At first, becoming a mortgage loan officer might seem overwhelming.  How do you even begin?

How to Become a Mortgage Loan Officer (MLO) in Vermont

So you want to become a mortgage loan officer in Vermont… But don’t know how

Session expired

Please log in again. The login page will open in a new tab. After logging in you can close it and return to this page.

• Get started

How to Write a Solid Real Estate Business Plan in 2024

March 13, 2024

If you want to grow your real estate business , then you’ll need to get clear on where you want to go and how you can get there.

Research from the Harvard Business Review indicates that entrepreneurs who create formal business plans are 16% more likely to achieve viability than those who don’t. Further studies also demonstrate that business planning can accelerate a firm’s growth by 30% , and the time invested in writing a business plan can significantly enhance the likelihood of success .

In this article, we’ll guide you through the critical elements of a strong real estate business plan, helping you create a unique strategy aligned with your company goals.

Find It Fast

Why every agent and broker should have a real estate business plan

A real estate business plan acts as a strategic blueprint for an agent, team, or brokerage, mapping out key facets, critical milestones, company goals, and the business’s overall financial health. A plan needs a clear vision and roadmap for how the company will achieve its goals and grow within its specific market.

Additionally, general business plans are pivotal in securing capital and compelling potential investors or partners. A great business plan can attract skilled employees and top-level talent, leading to further expansion and growth.

For an agent or a broker, a real estate business plan is essential for determining your identity in the luxury market and what you can offer clients. It helps you hone in on your ideal customer and allows you to assess the financial viability of your business easily. 

Your real estate business plan is a guide to your goals and a clear-cut strategy for how you can stand out from the competition, grow your business, and fulfill your overarching mission.

Real estate business plans: the basics

When constructing your real estate business plan, it’s best to keep things simple, manageable, and achievable. Focus on where you are now, where you want to go, and how you can reasonably get there.

Here are six critical elements of a straightforward real estate business plan:

• Executive summary:  The executive summary serves as a brief overview of who you are, your purpose, and your goals.
• Overview and objectives:  The overview and objectives section can vary somewhat based on your individual needs, but they should include your mission statement, your history, and your objectives.
• Market opportunities and competitive analysis:  Your business plan should outline where market conditions are ideal for the rapid growth of a business and what your competition is already doing in that space.
• SWOT analysis:  SWOT stands for Strengths, Weaknesses, Opportunities, and Threats and is a useful analytical tool for determining your strategic position.
• Marketing plan:  The marketing plan identifies and details how you will reach and attract your target audience.
• Financial plan:  A financial plan is a fairly straightforward snapshot of the economic health of your business.

Most business plans adhere to a timeframe of three to five years, though some are as short as one year, others as long as seven. Although everything in this article provides recommendations for a three to five-year plan, it’s worth looking beyond five years for future growth opportunities.

Creating your own real estate business plan 

Now that you know the main sections of your real estate business plan, let’s dive into exactly what goes into each element. 

Executive summary

A good summary is typically one to two pages (although one is optimal) and should include the following:

• Description of services
• Summary of objectives
• Brief market and competition snapshot (you’ll dive deeper into this later in your business plan)
• Capital or partnership requirements, if applicable

Your executive summary is the one part of your business plan you can recite from memory. There’s no fluff. Consider this your elevator pitch to sell your vision and convince others to join you on your mission.

Overview and objectives

Mission statement.

Your mission statement is why you do what you do—the guiding principles for your business. 

For example, here are two excellent real estate company mission statements:

• Compass : Our mission is to help everyone find their place in the world. Compass is building the first modern real estate platform, pairing the industry’s top talent with technology to make the search and sell experience intelligent and seamless.
• Sotheby’s Realty : Built on centuries of tradition and dedicated to innovation, the Sotheby’s International Realty brand artfully unites connoisseurs of life with their aspirations through a deeply connected global network of exceptional people.

Your history is just that—when you started, location, leadership, milestones, and notable services or specializations.

Objectives are your primary goals. A common technique for establishing your goals is through the “SMART” method, ensuring your goals are Specific, Measurable, Achievable, Relevant, and Time-bound.

Objectives that might cover the course of a five-year plan include:

• Rebrand the company website in 30 days.
• Establish a social media presence in 90 days.
• Close five transactions per month in year one and double transaction volume by year three.
• Double the size of the firm by year five.

Ensure your goals are targeted and realistic within your set time frame. 

More likely than not, your business will have multiple objectives simultaneously. Group them based on category and designate a team member who will be responsible for managing achievements, setting milestones, and assessing progress.

Market opportunities and competitive analysis

Understanding your market and your competition involves taking stock of the landscape’s size, demographics, demands, and trends.

Market opportunities

When determining your market opportunities in your business plan, consider the following questions: 

• What is the size and stability of the market?
• Is the market currently on an upward or downward trajectory?
• What are the current demographics of the market?
• What segment of the market do I want to target? 
• Is there a demand for a particular type of housing? 
• Are there more sellers than buyers, or vice versa? 

Also, pinpoint specific market circumstances that could significantly impact your business, like interest rate trends or local economic development. Be sure to document these insights in your plan as well. 

Competitive analysis

In many business plans, competitive analysis is worthy of its own standalone section. Regardless of how you present it, devote some space to your competition and thoroughly research what they currently do in the real estate market.

Include both immediate and secondary competitors, and note if the market is primed for new competitors in the future. Also, identify the risks and opportunities when comparing your niche market and services versus others vying for similar business. 

Remember to ask yourself:

• What do I offer clients that the competition does not? 
• Can I stand out in this market and generate revenue?
• How can I advertise myself to showcase these differences?

SWOT analysis

Through its matrix-like formatting, you can use data-backed facts to analyze your team’s strengths, weaknesses, opportunities, and threats in a visual way. Here are some questions you can ask yourself for each section:

• Is your brand recognizable?
• Do you have an in-house expert for each specialization within residential or commercial real estate (or both)? 
• Do you have an active pipeline of new leads ? 
• What is your unique selling proposition (USP)?
• Do you lack consistent social media or online content? 
• Is your brand relatively new or unrecognizable ?
• Are you missing out on lead-generation opportunities?
• Is your website engagement lacking?

Opportunities

• Has your team just branched out to a new area of real estate? 
• Is market demand growing in your area? 
• Have you uncovered a new source of referrals ?
• Are there any new teams in your niche with a USP similar to yours?
• Are mortgage rates rising enough to slow down demand?

By uncovering factors in each grid of the SWOT analysis matrix, you can identify areas that need immediate attention or capitalize on specific strengths.

Marketing plan

Creating a marketing plan is an exercise in understanding your ideal client and then molding a campaign that ensures you can target those customers. Here are a few key points to outline in your marketing plan:

Demographics

• Consider your ideal client persona, including age, location, income, and profession.
• Consider what attracts this ideal client. What are they looking for in properties? What are they avoiding?
• What type of neighborhoods, amenities, or lifestyle are they seeking?

Marketing channels

• Which platforms are your ideal clients engaging with the most? Which ones do your competitors frequently utilize?

Along with these aspects, consider how to position yourself better than your competitors to attract this client. Think about the benefits you can offer and how you can showcase this with a smart real estate marketing campaign .

Financial plan

A financial framework is a crucial aspect of your real estate business plan since it provides insight into the economic health of your business. It gives you a better idea of the valuation of your business, acts as a guide for your budget, and helps you set more realistic financial goals.  

Here are the elements of a financial plan that should be included:

Profit and loss statement

• This is also called an income statement or pro forma. This shows a company’s profitability (or loss) over a certain length of time.

Cash flow statement

• This statement provides an overview of your actual cash position.

Balance sheet

• A balance sheet shows where you stand regarding assets, liabilities, and equity at a specific point in time.

Operating budget

• An operating budget is a detailed view of your income and expenses, usually over 12 months. 

Break-even analysis

• This outlines the revenues necessary to cover all costs and your business’s potential to be profitable. 

Depending on your real estate business position or if you’re an individual broker or agent, you can simplify this area with just an operating budget and break-even analysis.

4 common mistakes agents make when creating a real estate business plan

1. thinking the business plan needs to be perfect.

Your real estate business plan will not be built overnight. You can still run a successful company while your business plan is being created. Instead of waiting to make a “perfect” business plan, follow our step-by-step guide to get started. Then, you can modify as you learn more about your client, your competition, and the trends in the market. 

2. Not having someone else review your business plan

Like any other business document, having a second pair of eyes review your real estate business plan is always helpful for typos or mistakes and for any glaring questions or inconsistencies. Be open to feedback from people, both in the industry and outside it—if someone is confused by an aspect of your plan, chances are they won’t be the only one. 

3. Not using the business plan to gain more clients

While your plan is useful for an overview of your business and its goals, don’t forget to use it as a guiding tool. For example, once you make your marketing plan, you’ll have a stronger idea of your ideal customer. So, be sure to use that information to create more targeted outreach efforts. This includes:

• Adjusting your marketing and advertising budget
• Creating a more targeted marketing campaign, including website, social media, and email
• Determining how to nurture non-specific outreach efforts such as referrals , SEO , and open houses
• Developing a data analytic strategy—how will you measure your marketing success and make changes if necessary?

4. Not coming back to the business plan 

Your real estate business plan is not a one-and-done proposition or something to be written, tossed in a drawer, and forgotten. 

Make time to periodically reevaluate your progress and see where you stand in reaching your goals. Once every 90 days is a good rule of thumb, but review more or less frequently as you see fit. And if you start hitting those goals early, take the time to make new ones.

Lastly, don’t be afraid to pivot if something isn’t working. Goals can change, so return to your business plan and modify it as your company ebbs and flows. 

Luxury Presence: your real estate business plan partner

With beautifully crafted websites, SEO strategists, and top marketing expertise, Luxury Presence is here to help you define your business and grow in the real estate market. Contact our team of experts today to refine your online presence and stand out from the competition.

Share article

Related posts

April 4, 2024

The Most Profitable Real Estate Niches and Why They Work

While it might sound limiting to focus on a specific real estate niche, specializing in one defined area allows you to sharpen your focus, …

• Real Estate Resources

What is GCI in Real Estate? (+ 5 Expert Strategies to Boost Yours in 2024)

Gross commission income is a valuable metric in measuring success in real estate. However, as the industry changes and agents adapt to shifts in …

• Lead Generation
• Landing Pages

April 2, 2024

How to Build High-Converting Real Estate Landing Pages (+ 9 Excellent Examples)

With these 9 tips, learn how to optimize your landing pages to generate a number of leads.

Book a Demo

Call us at (310) 955-1077

By providing Luxury Presence with your contact information, you acknowledge and agree to our Privacy Policy and consent to receiving marketing communications, including through automated calls, texts and emails.

Don't bother with copy and paste.

Get this complete sample business plan as a free text document.

Real Estate Business Plan

Start your own real estate business plan

DreamHome Realty

Value proposition.

DreamHome Realty is a full-service real estate agency that provides personalized and professional services to home buyers, sellers, and renters. Our experienced agents are dedicated to understanding the unique needs and goals of each client, guiding them through the entire process with exceptional customer service and support.

The Problem

The local real estate market is competitive, and many clients find it difficult to navigate the complexities of buying, selling, or renting a home. They are looking for an agency that offers personalized support, expert advice, and a deep understanding of the local market.

The Solution

DreamHome Realty addresses these challenges by connecting clients with knowledgeable agents who are committed to providing outstanding customer service and guiding them through each step of their real estate journey. Our agents stay up-to-date on market trends, use advanced marketing strategies, and leverage the latest technology to ensure the best results for our clients.

Target Market

DreamHome Realty’s primary market includes first-time homebuyers, families looking to upgrade or downsize, and individuals relocating to the area. The secondary market consists of property investors and clients seeking rental property management services.

Competitors & Differentiation

Current alternatives.

• Large national real estate franchises
• Local independent real estate agencies
• Online real estate platforms

DreamHome Realty sets itself apart with a client-focused approach, personalized service, and a strong commitment to the local community. Our agents are experienced, passionate about real estate, and dedicated to helping clients achieve their goals.

Funding Needs

DreamHome Realty requires $150,000 in initial funding to cover startup costs, including office space, marketing materials, website development, and operational expenses for the first year.

Sales Channels

• DreamHome Realty website
• Social media platforms
• Local advertising and sponsorships
• Networking events and open houses
• Referrals from satisfied clients

Marketing Activities

• Targeted online advertising
• Social media campaigns
• Local sponsorships and community events
• Networking with local businesses and organizations

Financial Projections

2023: $400,000

2024: $600,000

2025: $900,000

Expenses/Costs:

2023: $350,000

2024: $400,000

2025: $480,000

2023: $50,000

2024: $200,000

2025: $420,000

Secure initial funding – June 1, 2023

Establish office space and infrastructure – July 1, 2023

Hire and onboard real estate agents – August 1, 2023

Launch website and social media presence – September 1, 2023

Close first property transaction – October 31, 2023

Expand team and service offerings – January 1, 2025

Team and Key Roles

Founder & ceo.

Responsible for overall business operations, strategic growth, and maintaining relationships with clients and agents.

Real Estate Agents

Assist clients with buying, selling, and renting properties while providing exceptional customer service and market expertise.

Marketing Manager

Develops and executes marketing strategies to attract new clients and enhance brand visibility.

Administrative Support Staff

Assist with daily office tasks, client management, and agent support.

Partnerships & Resources

Local mortgage lenders.

Collaborate with mortgage lenders to assist clients with financing options and pre-approval processes.

Home Inspectors and Appraisers

Establish relationships with reputable professionals to provide accurate property assessments and inspections for our clients.

Title Companies and Real Estate Attorneys

Partner with legal and title professionals to ensure smooth and compliant transactions.

Local Businesses and Community Organizations

Network and collaborate with local businesses and community organizations to foster a strong local presence and create opportunities for cross-promotion and referrals.

Tax Season Savings

Get 40% off LivePlan

The #1 rated business plan software

Transform Tax Season into Growth Season

Discover the world’s #1 plan building software

We use essential cookies to make Venngage work. By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

Manage Cookies

Cookies and similar technologies collect certain information about how you’re using our website. Some of them are essential, and without them you wouldn’t be able to use Venngage. But others are optional, and you get to choose whether we use them or not.

Strictly Necessary Cookies

These cookies are always on, as they’re essential for making Venngage work, and making it safe. Without these cookies, services you’ve asked for can’t be provided.

Show cookie providers

• Google Login

Functionality Cookies

These cookies help us provide enhanced functionality and personalisation, and remember your settings. They may be set by us or by third party providers.

Performance Cookies

These cookies help us analyze how many people are using Venngage, where they come from and how they're using it. If you opt out of these cookies, we can’t get feedback to make Venngage better for you and all our users.

• Google Analytics

Targeting Cookies

These cookies are set by our advertising partners to track your activity and show you relevant Venngage ads on other sites as you browse the internet.

• Google Tag Manager
• Infographics
• Daily Infographics
• Graphic Design
• Graphs and Charts
• Data Visualization
• Human Resources
• Training and Development
• Beginner Guides

Blog Business

5 Real Estate Business Plan Examples & How to Create One?

By Danesh Ramuthi , Nov 28, 2023

Crafting a business plan is essential for any business and the real estate sector is no exception. In real estate, a comprehensive business plan serves as a roadmap, delineating a clear path towards business growth. 

It guides owners, agents and brokers through various critical aspects such as identifying target markets, devising effective marketing strategies, planning finances and managing client relationships.

For real estate businesses, a well-written plan is crucial in attracting potential investors, showcasing the company’s mission statement, business model and long-term income goals.

So, how can you write one?

Leveraging tools like Venngage Business Plan Make r with their Business Plan Templates to create your own real estate business plan can be transformative.

They offer a lot of real estate business plan examples and templates, streamlining the process of crafting a comprehensive plan.

Click to jump ahead: 

• 5 real estate business plan examples

How to write a real estate business plan?

• Wrapping Up

5 Real estate business plan examples

As I have said before, a well-crafted business plan is a key to success. Whether you’re a seasoned agent or just starting out, examples of effective real estate business plans can offer invaluable insights.

These examples showcase a range of strategies and approaches tailored to various aspects of the real estate market. They serve as guides to structuring a plan that addresses key components like market analysis, marketing strategies, financial planning and client management, ensuring a solid foundation for any real estate venture.

Real estate business plan example

There are various elements in a real estate business plan that must be integrated. Incorporating these elements into a real estate business plan ensures a comprehensive approach to launching and growing a successful real estate business. 

What are they?

• Executive summary: The executive summary is a concise overview of the real estate business plan. It highlights the mission statement, outlines the business goals and provides a snapshot of the overall strategy. 
• Company overview: An overview on the history and structure of the real estate business. It includes the company’s mission and vision statements, information about the founding team and the legal structure of the business. 
• Service: Here, the business plan details the specific services offered by the real estate agency. This could range from residential property sales and leasing to commercial real estate services. The section should clearly articulate how these services meet the needs of the target client and how they stand out from competitors.
• Strategies: A very crucial part of the plan outlines the strategies for achieving business goals. It covers marketing strategies to generate leads, pricing strategies for services, and tactics for effective client relationship management. Strategies for navigating market shifts, identifying key market trends and leveraging online resources for property listings and real estate listing presentations to help with lead generation are also included.
• Financial plan: The financial plan is a comprehensive section detailing the financial projections of the business. It includes income statements, cash flow statements, break-even analysis and financial goals. Besides, a financial plan section also outlines how resources will be allocated to different areas of the business and the approach to managing the financial aspects of the real estate market, such as average sales price and housing market trends.

Read Also: 7 Best Business Plan Software for 2023

Real estate investment business plan example

A real estate investment business plan is a comprehensive blueprint that outlines the goals and strategies of a real estate investment venture. It serves as a roadmap, ensuring that all facets of real estate investment are meticulously considered.

Creating a business plan for real estate investment is a critical step for any investor, regardless of their experience level Typically, these plans span one to five years, offering a detailed strategy for future company objectives and the steps required to achieve them.

Key components:

• Executive summary: Snapshot of the business, outlining its mission statement, target market, and core strategies. It should be compelling enough to attract potential investors and partners.
• Market analysis: A thorough analysis of the real estate market, including current trends, average sales prices and potential market shifts.
• Financial projections: Detailed financial plans, including income statements, cash flow analysis, and break-even analysis.
• Strategy & implementation: Outlines how the business plans to achieve its goals. This includes marketing efforts to generate leads, pricing strategies and client relationship management techniques.
• Legal structure & resource allocation: Details the legal structure of the business and how resources will be allocated across various operations, including property acquisitions, renovations and management.

Real estate agent business plan example

A real estate agent business plan is a strategic document that outlines the operations and goals of a real estate agent or agency. It is a crucial tool for communicating with potential lenders, partners or shareholders about the nature of the business and its potential for profitability.

A well-crafted real estate agent business plan will include

• Where you are today: A clear understanding of your current position in the market, including strengths, weaknesses and market standing.
• Where you aim to be: Sets specific, measurable goals for future growth, whether it’s expanding the client base, entering new markets or increasing sales.
• How can you get there: Outlines the strategies and action plans to achieve these goals, including marketing campaigns, client acquisition strategies and business development initiatives.
• Measuring your performance: Defines the key performance indicators (KPIs) and metrics to assess progress towards the set goals, such as sales figures, client satisfaction rates and market share.
• Course correction: Establishes a process for regular review and adjustment of the plan, ensuring flexibility to adapt to market changes, shifts in client needs and other external factors.

For real estate agents, a comprehensive business plan is not just a roadmap to success; it is a dynamic tool that keeps them accountable and adaptable to market changes.

Realtor business plan example

A realtor business plan is a comprehensive document that outlines the strategic direction and goals of a real estate business. It’s an essential tool for realtors looking to either launch or expand their business in the competitive real estate market. The plan typically includes details about the company’s mission, objectives, target market and strategies for achieving its goals.

Benefits of a realtor business plan and applications:

• For launching or expanding businesses: The plan helps real estate agents to structure their approach to entering new markets or growing in existing ones, providing a clear path to follow.
• Securing loans and investments: A well-drafted business plan is crucial for securing financing for real estate projects, such as purchasing new properties or renovating existing ones.
• Guideline for goal achievement: The plan serves as a guideline to stay on track with sales and profitability goals, allowing realtors to make informed decisions and adjust strategies as needed.
• Valuable for real estate investors: Investors can use the template to evaluate potential real estate businesses and properties for purchase, ensuring they align with their investment goals.
• Improving business performance: By filling out a realtor business plan template , realtors can gain insights into the strengths and weaknesses of their business, using this information to enhance profitability and operational efficiency.

A realtor business plan is more than just a document; it’s a roadmap for success in the real estate industry. 

Writing a real estate business plan is a comprehensive process that involves several key steps. Here’s a detailed guide to help you craft an effective business plan :

• Tell your story : Start with a self-evaluation. Define who you are as a real estate agent, why you are in this business and what you do. Develop your mission statement, vision statement and an executive summary​​.
• Analyze your target real estate market : Focus on local market trends rather than national or state-wide levels. Examine general trends, market opportunities, saturations, and local competition. This step requires thorough research into the real estate market you plan to operate in​​.
• Identify your target client : After understanding your market, identify the niche you aim to serve and the type of clients you want to target. Create a client persona that reflects their specific needs and concerns​​.
• Conduct a SWOT analysis : Analyze your business’s Strengths, Weaknesses, Opportunities and Threats. This should reflect a combination of personal attributes and external market conditions​​​​.
• Establish your SMART goals : Set specific, measurable, attainable, realistic and timely goals. These goals could be financial, expansion-related or based on other business metrics​​​​.
• Create your financial plan : Account for all operating expenses, including marketing and lead generation costs. Calculate the number of transactions needed to meet your financial goals. Remember to separate personal and business finances​​.
• Revisit your business plan to monitor & evaluate : Treat your business plan as a living document. Plan periodic reviews (quarterly, semi-annually or annually) to check if your strategies are advancing you toward your goals​​​​.
• Defining your mission & vision : Include a clear mission and vision statement. Describe your business type, location, founding principles and what sets you apart from competitors​​.
• Creating a marketing plan : Develop a marketing plan that addresses the product, price, place and promotion of your services. Determine your pricing strategy, promotional methods and marketing channels​​.
• Forming a team : Ensure the cooperation of colleagues, supervisors and supervisees involved in your plan. Clarify their roles and how their participation will be evaluated​​.

Related: 15+ Business Plan Examples to Win Your Next Round of Funding

Wrapping up

The journey to a successful real estate venture is intricately linked to the quality and depth of your business plan. From understanding the nuances of the real estate market to setting strategic goals, a well-crafted business plan acts as the backbone of any thriving real estate business. Whether you’re developing a general real estate business plan, focusing on investment, working as an agent, or operating as a realtor, each plan type serves its unique purpose and addresses specific aspects of the real estate world.

The examples and insights provided in this article serve as a guide to help you navigate the complexities of the real estate industry. Remember, a real estate business plan is not a static document but a dynamic blueprint that evolves with your business and the ever-changing market trends.

Crafting a strategic real estate business plan is a crucial step towards achieving your business goals. So, start shaping your vision today with Venngage.

Explore venngage business plan maker & our business plan templates and begin your journey to a successful real estate business now!

• Share full article

Advertisement

Supported by

How Does Paris Stay Paris? By Pouring Billions Into Public Housing

One quarter of residents in the French capital live in government-owned housing, part of an aggressive plan to keep lower-income Parisians — and their businesses — in the city.

By Thomas Fuller

Thomas Fuller, a former European Union and Paris correspondent, returned to the French capital to interview public housing tenants and officials from Paris City Hall.

The two-bedroom penthouse comes with sweeping views of the Eiffel Tower and just about every other monument across the Paris skyline. The rent, at 600 euros a month, is a steal.

Marine Vallery-Radot, 51, the apartment’s tenant, said she cried when she got the call last summer that hers was among 253 lower-income families chosen for a spot in the l’Îlot Saint-Germain, a new public-housing complex a short walk from the Musée d’Orsay, the National Assembly and Napoleon’s tomb.

“We were very lucky to get this place,” said Ms. Vallery-Radot, a single mother who lives here with her 12-year-old son, as she gazed out of bedroom windows overlooking the Latin Quarter. “This is what I see when I wake up.”

Public housing can conjure images of bleak, boxy towers on the outskirts of a city, but this logement social was built in the former offices of the French Defense Ministry, in the Seventh arrondissement, one of Paris’s most chic neighborhoods. It’s part of an ambitious and aggressive effort to keep middle- and lower-income residents and small-business owners in the heart of a city that would otherwise be unaffordable to them — and by extension, to preserve the ineffable character of a city adored by people around the globe.

This summer, when the French capital welcomes upward of 15 million visitors for the Olympic Games , it will showcase a city engineered by government policies to achieve mixité sociale — residents from a broad cross-section of society. One quarter of all Paris residents now live in public housing, up from 13 percent in the late 1990s. The mixité sociale policy, promoted most forcefully by left-wing political parties, notably the French Communist Party, targets the economic segregation seen in many world cities.

“Our guiding philosophy is that those who produce the riches of the city must have the right to live in it,” said Ian Brossat, a communist senator who served for a decade as City Hall’s head of housing. Teachers, sanitation workers, nurses, college students, bakers and butchers are among those who benefit from the program.

Making the philosophy a reality is increasingly hard — the wait list for public housing in Paris is more than six years long. “I won’t say this is easy and that we have solved the problem,” Mr. Brossat said.

Paris is being buffeted by the same market forces vexing other so-called superstar cities like London, San Francisco and New York — a sanctum for the world’s wealthiest to park their money and buy a piece of a living museum. The average price for a 1,000-square-foot apartment in the center of the capital today is 1.3 million euros (about $1.41 million), according to the Chamber of Notaries of Paris .

The Fondation Abbé Pierre, an influential charity, was unusually emphatic in its annual report, published in February, calling France’s affordability crisis a “social bomb,” with rising homelessness and 2.4 million families waiting on public-housing applications, up from 2 million in 2017. Still, the measures that Paris has taken to keep lower-income residents in the city go far beyond the initiatives in most other European cities , not to mention American ones.

Every Thursday, Jacques Baudrier, the Paris city councilor in charge of housing, scrolls through the list of properties being exchanged by sellers and buyers on the private market. With some exceptions, the city has the legal right to pre-empt the sale of a building, buy the property and convert it to public housing.

“We are in a constant battle,” said Mr. Baudrier, who wields a 625 million euro annual budget.

The fight, he said, is against forces that make buying Parisian real estate impossible for all but the well-to-do, including buyers who snap up apartments as pieds-à-terre and then leave them empty for most of the year. Paris has also sharply restricted short-term rentals, after officials became alarmed when historic neighborhoods, including the old Jewish quarter, the Marais, appeared to be shedding full-time residents as investors bought places to rent out to tourists.

At the same time, the city has built or renovated more than 82,000 apartments over the past three decades for families with children. Rents range from six to 13 euros per square meter, depending on household income, meaning that a two-bedroom, 1,000-square-foot apartment might go for as little as 600 euros ($650) a month. It has also built 14,000 student apartments over the past 25 years; monthly rents at one complex currently nearing completion in the 13th arrondissement start at 250 euros a month.

For City Hall, social engineering also means protecting the petits commerces, the small shops that contribute to the city’s sense of timelessness. When visitors here meander through what seems like a series of small villages, with boulangeries, cheese shops, cobblers and mom-and-pop hardware stores, it is not entirely organic.

City Hall has a direct hand in the types of businesses that take root and survive in Paris because it is the landlord, through its real estate subsidiaries, of 19 percent of the city’s shops. Nicolas Bonnet-Oulaldj, the city counselor who oversees the city’s commercial landholdings, said his office is constantly studying neighborhoods to maintain a balance of essential shops and limit the number of chains, which can usually pay higher rent.

“We don’t rent to McDonald’s, we don’t rent to Burger King and we don’t rent to Sephora,” said Mr. Bonnet-Oulaldj. He acknowledged that in some neighborhoods where private landlords have rented to chains the battle has been plainly lost.

The city is deliberate in what shops it chooses. In an area that had become thick with hairdressing salons, City Hall rented to a boulangerie and a cheese shop. In other neighborhoods it has chosen to rent to bicycle repair shops, in part to reinforce the city’s push to reduce the number of cars in favor of bikes. It doesn’t rent to massage parlors on the grounds that they are sometimes fronts for prostitution.

A few minutes from the Place de la Bastille is one of the beneficiaries of the city’s retail policies. Emmanuelle Fayat, a luthier who restores and services violins for orchestra musicians, sits surrounded by maple and spruce and the tools of her trade: neatly organized rasps, planes and chisels. She rents her shop for “a modest amount” from a city-owned real estate management company.

“I have no knowledge of marketing and I’ve never asked myself how to become rich,” Ms. Fayat said on a recent afternoon. “I just want to do my job. I like my profession more than money.”

About a mile away, in a neighborhood rich with cafes and restaurants, Librairie Violette and Co, a feminist and lesbian bookshop, is another beneficiary of Paris’s retail diversity program. When the bookshop’s previous location was bought by an insurance company and the original owners retired, a group of women that wanted to keep the business going struggled to find a new home and announced they were closing the store.

City officials reached out and offered a new space at below-market rates. “Banks refused to lend us money,” said Loïse Tachon, a co-manager of the shop. “They didn’t think it would be lucrative enough.”

Further north, near the Buttes-Chaumont park, the city rents a storefront to Desirée Fleurs, which specializes in flowers grown in the Paris region. Audrey Venant, the co-founder of the shop, sees the program as a necessary and protective guiding hand.

“Local businesses are very, very fragile,” she said, surrounded by narcissus, ranunculus, snapdragon, all perfumed by eucalyptus. “I see a lot of bankruptcies.”

Ms. Venant and her husband, a painter and sculptor, live in a 750-square-foot loft that is also part of the city’s public-housing program. Her monthly 1,300-euro rent is well below market rates, she said.

The French statistics agency, Insee, reports that Paris is home to more than 10,000 nurses, 1,700 bakers, 470 butchers, 945 garbage collectors and 5,300 janitors. The push for more social housing and other programs to make the city more affordable has coincided with the dominance of left-wing political parties, who came to power in 2001 after decades of right-wing rule.

But François Rochon, an urban planning consultant, said there is a functional consensus between right and left in France today on the need for public housing that mirrors some other European nations, but not the United States. “Living in social housing is not stigmatized,” said Mr. Rochon, who pointed to its roots a century ago in France, when companies built apartments for their workers.

As a measure of the left-right alignment on the issue, Benoist Apparu, a former housing minister who served in a conservative government, described social housing as “absolutely essential.”

“A city, if it’s only made up of poor people, is a disaster,” said Mr. Apparu, who now works for a property developer. “And if it’s only made up of rich people, it’s not much better.”

Paris’s housing program is part of the trade-off of the welfare state: affordable health care and education in exchange for some of the highest income-tax rates and social charges in Europe. Public housing, however, is increasingly available only for those lucky enough to get it.

There also is vestigial cynicism in Paris about public housing after a series of scandals in the 1990s, when some conservative politicians were revealed to be paying cheap rents for luxury city-owned apartments. Today, the city awards public housing through a system that strips the names of applicants and prioritizes them through a points system that factors income and family circumstances.

Mostly, resistance comes at the local level, Mr. Rochon said. Residents in central arrondissements, for example, have often pushed back against building public housing, and the neighborhoods remain bastions of the wealthy. There is also disagreement about how far the government can or should push public housing in the future. The current goal is for Paris to have 30 percent public housing for low-income residents and 10 percent for middle-income residents by 2035.

Mr. Baudrier, the Paris City Council member, said he believes that in the long term, 60 percent of housing in the city should be public and reserved for low- and middle-income families.

But building new public housing has been particularly challenging because so much of the city is already so densely packed — and often protected by landmark status.

City planners have negotiated with the public railways to buy old train yards and rights of way. They’ve also seized on opportunities like the one that arose in 2018, when the French Defense Ministry consolidated its offices in Paris and the city negotiated to buy the l’Îlot Saint-Germain for well below market rates. The ensuing construction of 253 apartments was financed by the sale of part of the building to a Qatari investment fund, which is building a luxury hotel, as well as low-interest government loans that have durations as long as 50 to 80 years, according to Emmanuelle Cosse, a former housing minister.

City Hall has also taken over condemned buildings. Fabrice Chaillou, a father of two who manages computer networks, lives in public housing on the northern edge of Paris that was built from the ruins of a dilapidated neighborhood. He pays 980 euros a month for a three-bedroom apartment that he waited 10 years to get. Among his neighbors are a janitor, teachers, a car salesman and a police officer.

The program has allowed Mr. Chaillou and his wife to raise their two children in the city. But he knows that the future of social housing will always face at least one big challenge: “The problem is that once you get in, you never want to leave.”

Thomas Fuller , a Page One Correspondent for The Times, writes and rewrites stories for the front page. More about Thomas Fuller

• Popular Professionals
• Design & Planning
• Construction & Renovation
• Finishes & Fixtures
• Landscaping & Outdoor
• Systems & Appliances
• Interior Designers & Decorators
• Architects & Building Designers
• Design-Build Firms
• Kitchen & Bathroom Designers
• General Contractors
• Kitchen & Bathroom Remodelers
• Home Builders
• Roofing & Gutters
• Cabinets & Cabinetry
• Tile & Stone
• Hardwood Flooring Dealers
• Landscape Contractors
• Landscape Architects & Landscape Designers
• Home Stagers
• Swimming Pool Builders
• Lighting Designers and Suppliers
• 3D Rendering
• Sustainable Design
• Basement Design
• Architectural Design
• Universal Design
• Energy-Efficient Homes
• Multigenerational Homes
• House Plans
• Home Remodeling
• Home Additions
• Green Building
• Garage Building
• New Home Construction
• Basement Remodeling
• Stair & Railing Contractors
• Cabinetry & Cabinet Makers
• Roofing & Gutter Contractors
• Window Contractors
• Exterior & Siding Contractors
• Carpet Contractors
• Carpet Installation
• Flooring Contractors
• Wood Floor Refinishing
• Tile Installation
• Custom Countertops
• Quartz Countertops
• Cabinet Refinishing
• Custom Bathroom Vanities
• Finish Carpentry
• Cabinet Repair
• Custom Windows
• Window Treatment Services
• Window Repair
• Fireplace Contractors
• Paint & Wall Covering Dealers
• Door Contractors
• Glass & Shower Door Contractors
• Landscape Construction
• Land Clearing
• Garden & Landscape Supplies
• Deck & Patio Builders
• Deck Repair
• Patio Design
• Stone, Pavers, & Concrete
• Paver Installation
• Driveway & Paving Contractors
• Driveway Repair
• Asphalt Paving
• Garage Door Repair
• Fence Contractors
• Fence Installation
• Gate Repair
• Pergola Construction
• Spa & Pool Maintenance
• Swimming Pool Contractors
• Hot Tub Installation
• HVAC Contractors
• Electricians
• Appliance Services
• Solar Energy Contractors
• Outdoor Lighting Installation
• Landscape Lighting Installation
• Outdoor Lighting & Audio/Visual Specialists
• Home Theater & Home Automation Services
• Handyman Services
• Closet Designers
• Professional Organizers
• Furniture & Accessories Retailers
• Furniture Repair & Upholstery Services
• Specialty Contractors
• Color Consulting
• Wine Cellar Designers & Builders
• Home Inspection
• Custom Artists
• Columbus, OH Painters
• New York City, NY Landscapers
• San Diego, CA Bathroom Remodelers
• Minneapolis, MN Architects
• Portland, OR Tile Installers
• Kansas City, MO Flooring Contractors
• Denver, CO Countertop Installers
• San Francisco, CA New Home Builders
• Rugs & Decor
• Home Improvement
• Kitchen & Tabletop
• Bathroom Vanities
• Bathroom Vanity Lighting
• Bathroom Mirrors
• Bathroom Fixtures
• Nightstands & Bedside Tables
• Kitchen & Dining
• Bar Stools & Counter Stools
• Dining Chairs
• Dining Tables
• Buffets and Sideboards
• Kitchen Fixtures
• Wall Mirrors
• Living Room
• Armchairs & Accent Chairs
• Coffee & Accent Tables
• Sofas & Sectionals
• Media Storage
• Patio & Outdoor Furniture
• Outdoor Lighting
• Ceiling Lighting
• Chandeliers
• Pendant Lighting
• Wall Sconces
• Desks & Hutches
• Office Chairs
• View All Products
• Designer Picks
• Side & End Tables
• Console Tables
• Living Room Sets
• Chaise Lounges
• Ottomans & Poufs
• Bedroom Furniture
• Nightstands
• Bedroom Sets
• Dining Room Sets
• Sideboards & Buffets
• File Cabinets
• Room Dividers
• Furniture Sale
• Trending in Furniture
• View All Furniture
• Bath Vanities
• Single Vanities
• Double Vanities
• Small Vanities
• Transitional Vanities
• Modern Vanities
• Houzz Curated Vanities
• Best Selling Vanities
• Bathroom Vanity Mirrors
• Medicine Cabinets
• Bathroom Faucets
• Bathroom Sinks
• Shower Doors
• Showerheads & Body Sprays
• Bathroom Accessories
• Bathroom Storage
• Trending in Bath
• View All Bath
• Houzz x Jennifer Kizzee
• Houzz x Motivo Home
• How to Choose a Bathroom Vanity

• Patio Furniture
• Outdoor Dining Furniture
• Outdoor Lounge Furniture
• Outdoor Chairs
• Adirondack Chairs
• Outdoor Bar Furniture
• Outdoor Benches
• Wall Lights & Sconces
• Outdoor Flush-Mounts
• Landscape Lighting
• Outdoor Flood & Spot Lights
• Outdoor Decor
• Outdoor Rugs
• Outdoor Cushions & Pillows
• Patio Umbrellas
• Lawn & Garden
• Garden Statues & Yard Art
• Planters & Pots
• Outdoor Sale
• Trending in Outdoor
• View All Outdoor
• 8 x 10 Rugs
• 9 x 12 Rugs
• Hall & Stair Runners
• Home Decor & Accents
• Pillows & Throws
• Decorative Storage
• Faux Florals
• Wall Panels
• Window Treatments
• Curtain Rods
• Blackout Curtains
• Blinds & Shades
• Rugs & Decor Sale
• Trending in Rugs & Decor
• View All Rugs & Decor
• Pendant Lights
• Flush-Mounts
• Ceiling Fans
• Track Lighting
• Wall Lighting
• Swing Arm Wall Lights
• Display Lighting
• Table Lamps
• Floor Lamps
• Lamp Shades
• Lighting Sale
• Trending in Lighting
• View All Lighting
• Bathroom Remodel
• Kitchen Remodel
• Kitchen Faucets
• Kitchen Sinks
• Major Kitchen Appliances
• Cabinet Hardware
• Backsplash Tile
• Mosaic Tile
• Wall & Floor Tile
• Accent, Trim & Border Tile
• Whole House Remodel
• Heating & Cooling
• Building Materials
• Front Doors
• Interior Doors
• Home Improvement Sale
• Trending in Home Improvement
• View All Home Improvement
• Cups & Glassware
• Kitchen & Table Linens
• Kitchen Storage and Org
• Kitchen Islands & Carts
• Food Containers & Canisters
• Pantry & Cabinet Organizers
• Kitchen Appliances
• Gas & Electric Ranges
• Range Hoods & Vents
• Beer & Wine Refrigerators
• Small Kitchen Appliances
• Cookware & Bakeware
• Tools & Gadgets
• Kitchen & Tabletop Sale
• Trending in Kitchen & Tabletop
• View All Kitchen & Tabletop
• Storage & Organization
• Baby & Kids

• View all photos
• Dining Room
• Breakfast Nook
• Family Room
• Bed & Bath
• Powder Room
• Storage & Closet
• Outdoor Kitchen
• Bar & Wine
• Wine Cellar
• Home Office
• Popular Design Ideas
• Kitchen Backsplash
• Deck Railing
• Privacy Fence
• Small Closet
• Stories and Guides
• Popular Stories
• Renovation Cost Guides
• Fence Installation Cost Guide
• Window Installation Cost Guide
• Discussions
• Design Dilemmas
• Before & After
• Houzz Research
• View all pros
• View all services
• View all products
• View all sales
• Living Room Chairs
• Dining Room Furniture
• Coffee Tables
• Home Office Furniture
• Join as a Pro
• Interior Design Software
• Project Management
• Custom Website
• Lead Generation
• Invoicing & Billing
• Landscape Contractor Software
• General Contractor Software
• Remodeler Software
• Builder Software
• Roofer Software
• Architect Software
• Takeoff Software
• Lumber & Framing Takeoffs
• Steel Takeoffs
• Concrete Takeoffs
• Drywall Takeoffs
• Insulation Takeoffs
• Stories & Guides
• LATEST FROM HOUZZ
• HOUZZ DISCUSSIONS
• SHOP KITCHEN & DINING
• Kitchen & Dining Furniture
• Sinks & Faucets
• Kitchen Cabinets & Storage
• Knobs & Pulls
• Kitchen Knives
• KITCHEN PHOTOS
• FIND KITCHEN PROS
• Bath Accessories
• Bath Linens
• BATH PHOTOS
• FIND BATH PROS
• SHOP BEDROOM
• Beds & Headboards
• Bedroom Decor
• Closet Storage
• Bedroom Vanities
• BEDROOM PHOTOS
• Kids' Room
• FIND DESIGN PROS
• SHOP LIVING
• Fireplaces & Accessories
• LIVING PHOTOS
• SHOP OUTDOOR
• Pool & Spa
• Backyard Play
• OUTDOOR PHOTOS
• FIND LANDSCAPING PROS
• SHOP LIGHTING
• Bathroom & Vanity
• Flush Mounts
• Kitchen & Cabinet
• Outdoor Wall Lights
• Outdoor Hanging Lights
• Kids' Lighting
• Decorative Accents
• Artificial Flowers & Plants
• Decorative Objects
• Screens & Room Dividers
• Wall Shelves
• About Houzz
• Houzz Credit Cards
• Privacy & Notice
• Cookie Policy
• Your Privacy Choices
• Mobile Apps
• Copyright & Trademark
• For Professionals
• Houzz vs. Houzz Pro
• Houzz Pro vs. Ivy
• Houzz Pro Advertising Reviews
• Houzz Pro 3D Floor Planner Reviews
• Trade Program
• Buttons & Badges
• Your Orders
• Shipping & Delivery
• Return Policy
• Houzz Canada
• Review Professionals
• Suggested Professionals
• Accessibility
• Houzz Support
• COUNTRY COUNTRY

Home & House Stagers in Elektrostal'

Location (1).

• Use My Current Location

Popular Locations

• Albuquerque
• Cedar Rapids
• Grand Rapids
• Indianapolis
• Jacksonville
• Kansas City
• Little Rock
• Los Angeles
• Minneapolis
• New Orleans
• Oklahoma City
• Orange County
• Philadelphia
• Portland Maine
• Salt Lake City
• San Francisco
• San Luis Obispo
• Santa Barbara
• Washington D.C.
• Elektrostal', Moscow Oblast, Russia

Professional Category (1)

• Accessory Dwelling Units (ADU)

Featured Reviews for Home & House Stagers in Elektrostal'

• Reach out to the pro(s) you want, then share your vision to get the ball rolling.
• Request and compare quotes, then hire the Home Stager that perfectly fits your project and budget limits.

A home stager is a professional who prepares a house for sale, aiming to attract more buyers and potentially secure a higher selling price. They achieve this through the following techniques:

• Rearranging furniture to optimize space and functionality.
• Decluttering to create a clean and spacious look.
• Making repairs to address visible issues.
• Enhancing aesthetics with artwork, accessories, and lighting.
• Introducing new furnishings to update the style.

Their goal is to present the house in the best light. Home stagers in Elektrostal' help buyers envision themselves living there, increasing the chances of a successful sale.

• Decluttering
• Furniture Selection
• Space Planning
• Art Selection
• Accessory Selection

Benefits of the home staging in Elektrostal':

• Attractive and inviting: Staging creates a welcoming atmosphere for potential buyers.
• Faster sale: Homes sell more quickly, reducing time on the market.
• Higher sale price: Staging can lead to higher offers and appeal to a wider range of buyers.
• Showcasing best features: Strategic arrangement highlights positives and minimizes flaws.
• Stand out online: Staged homes capture attention in online listings.
• Emotional connection: Staging creates a positive impression that resonates with buyers.
• Easy visualization: Buyers can easily picture themselves living in a staged home.
• Competitive advantage: Staging sets your home apart from others on the market.
• Affordable investment: Cost-effective way to maximize selling potential and ROI.
• Professional expertise: Experienced stagers ensure optimal presentation for attracting buyers.

What does an Elektrostal' home stager do?

What should i consider before hiring an interior staging company, questions to ask potential real estate staging companies in elektrostal', moscow oblast, russia:, business services, connect with us.