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Your executive summary is an anchor point you can use to understand the overall goals, cement the parameters of your target market, and make decisions that are aligned with your plan.
For real estate, it would include points on: Think of the executive summary as the section of your business plan you would explain to a friend a football game when asked how you plan to make money as an agent or broker in your local town/ city or state.
Note: due to the specific details including in the executive summary, this part of the business is typically one of the last items completed.
Here’s a simple example: To get started creating your persona, ask yourself a set of simple questions like: It’s important to assess your niche and make sure it is consistent with the market in your area.
For example, if you’ve decided to focus on first-time buyers, do some research to look at relevant stats and figures: A competitive SEO audit can be a useful starting point in finding your competitors in the online space, which is where almost all leads will turn to at some point in the buying process.
Few agents are able to fully develop their business in only a year, while planning five years into the future can be very speculative.
For most new agents, three years is a reasonable time frame for achieving a degree of financial success and establishing a viable career in the industry.One tool to help you define your market is a buyer persona.A persona is a fictional typification of your ideal customer, with information that helps you steer your sales and marketing in the right direction.Above, you can see Ahrefs returning the top competitors for a particular real estate website (most of the competitors are in their local area, too).You can learn a lot from your competitors’ properties, branding, content, and other information online — all useful information to help inform your market analysis.Note: The length of business plans vary, but they generally outline between one and five years.For our purposes, we’ve used a length of three years.Even better if that goal is a SMART Specific, Measurable, Attainable, Realistic, and Timed – goal.Examples of SMART goals you might set for your growing real estate business is: Pick one at a time and focus on it!How you create your real estate agent business plan varies based on your needs, but there are core issues every real estate business plan should address.We’ve broken these into four areas: For each area, we will outline specific tasks you should perform, and provide tools to help you along the way.