Post-License Ch2 Summary Notes

You should have at least three months’ salary in savings, and you should know what you can realistically earn in your first year as an agent.

Business Plan

The Snapshot will summarize your Business and Marketing plan. It should be written in narrative, paragraph

form.

Industry/Market Analysis

• Gather information about your region’s real estate industry.
• Include information about homes currently on the market, recently sold, and recently expired.
• You can break down your market analysis into areas and into types of hom
• You should also do some analysis on new construction.
• Understanding things like the unemployment and job growth rates can help too.

Point of Focus

• Describe how you intend to meet the needs of consumers in your area, what your business priorities will be, and your general business philosophy.
• Include your first, second, and third tier customers. I
• Only needs to be a page or less in lengt

Marketing Plan

• Target market summary
• Sales Goals and Strategy
• Sales Forecast

Financial Section

• Include a section for your financial goals.
• Compare your budget with your marketing plan and determine how much of it is realistic.
• The majority of your finances must be spent productively.
• The first part should be divided into start-up costs and operating expenses.

When you’ve completed your Business and Marketing Plan, take it to either your broker or an experienced agent in your office to get feedback.

You need to set up a schedule that will enable you to implement your plan. Get a calendar, day planner or online scheduling system.

• Start by filling in the things that are non-negotiable.
• Include office meetings and floor time. Review properties before agreeing to an open ho
• Include personal time in your schedule too.
• You may want to color-code the things in your schedul

When you know you have floor time coming up in a day or two, you can plan activities that ensure the time isn’t wasted – learn to multi-task.

Each morning, make a list and determine which things have the highest priority. Get unpleasant tasks out of the way first.

At the end of each day, take an honest assessment of how you spent your time.

Ask buyers if they’re pre-qualified. With potential sellers, find out their motivations for selling. Qualify a potential client’s willingness to work with you, as well.

The best kind of tracking system is one that looks at both short- and long-term performance, like days and months.

Post-License Ch2 Summary Notes