Why Business Plans for Real Estate are Important

Chuck Ward

Director of Marketing and Training

Real Access Pro

Agenda for the Next Two Classes

Tuesday 12/10/2013

• What a Business Plan is

• Why is a Business Plan Needed

• Pieces of a Business Plan

• Resources

Thursday 12/14/2013

• Filling it Out – Goal Setting

– Financial Planning

– Work Flow

– What to Do

– What NOT to Do

– Resources

How Well Do You Know Me

• Those of you who know me, know that I am a RABID Fan of college football

How Well Do You Know Me

• It may surprise you to know that I have taken a recent part time job delivering newspapers in the early morning hours

• (I get more done by 9 AM than most people do all day)

Headline Last Weekend

BCS CHAOS

CHAOS

• Alabama attempts a long field goal and misses (63 yards)

• Auburn FIELDS the kick and returns it for touchdown (109 yards)

• #5 Auburn beats #1 Alabama

• Auburn going to 2014 BCS Title Game

What’s the Point to the Story

• Auburn’s coaching staff had a plan – Auburn had a goal

– Beat Arch Rival Alabama

• Alabama’s coaching staff also had a plan – Alabama had a goal

– Did not account for unknowns

– Did not account for unlikely events or scenarios

Both Teams Had Plans

Ask Yourself

• Do you have a goal

• Do you have a plan to get to that goal

Recipe for Success

• Goals Have to Be Ultra Defined

– Written Down

– Short and Long Term

• Steps to Achieve those Goals also have to be Ultra Defined

Think of it This Way

• Your Goal is to Drive from somewhere really cold to somewhere warm

• How are you going to do this

This is where I am (in the warm area)

Think of it This Way

• Map out your travel – How far each day

– Where will you wind up at

– What to do along the way

– Account for Traffic, conditions, things to do along the way, money, etc

Business Plans Are the Same Thing

• A Roadmap

• Where are you at

• Where do you want to go

• How are you going to get there

• Account for the unknowns events/scenarios

What’s Included in Business Plans (Pt 1)

• Goals

– Personal Goals

• (Dream List / Dream Board / Dream Book)

– Professional

• Production

• Money

• Time

Every Business Owner Wants This

1.More Money and Closings

2.Less Expenses

3.Less Time Getting More Money and Closings

About Goals

• Goals Must Be Believable

• Goals Must Be in Writing

– View EVERY single day

• Goals must be measurable

What’s Included in Business Plans (Pt 1.1)

• What does it Take to Accomplish Your Goals

– How much money does it take to accomplish your personal goals

– How many closings do you need

– How many conversations do you have to have (23:1)

What’s Included in Business Plans (Pt 2)

• How are You Going to Accomplish Your Closings

–How many conversations

• How many dials to make

• How many emails to send

• How many cards or letters to write

• How often (weekly or biweekly)

–Do you specialize in niches?

What’s Included in Business Plans (Pt 2.1)

• How are You Going to Accomplish Your Goals – Include Social Media

• Which social media and how often – Facebook – Google Plus – YouTube

– Work on my website more • (optimization and blogging)

– More videos – Try something new

• (corporate benefits, blogging, video emails)

– Get more client reviews

What’s Included in Business Plans (Pt 2.2)

• How are You Going to Accomplish Your Goals

– What is it that you can do (strengths)

– What do you need someone to do for you (weaknesses)

• Virtual Assistants

– What do you need to learn

• How much time (daily or weekly) will you devote to learning

What’s Included in Business Plans (Pt 2.3)

• Other Weaknesses to Consider – Market Conditions

• (FHA lowered their loans amounts recently)

• Credit Challenged Clients

• Down Payment Challenged Clients

– Rising Technology Costs • Time spent learning and putting into place systems and

programs

• Money

• Needed for more clients

What’s Included in Business Plans (Pt 2.3)

• Other Things to Consider

– Education

• Learning New Programs

• Learning New Strategies / Ideas

• Role Play

– Financial Expenses

– Time Commitment

On Thursday

• Resources will be available Now – Sample Business Plans – Found Across the Internet (Realtor.com, Trulia)

• Link for Download – Fill out your email

• Tracking Purposes • I am not going to email you • Link to sample plans will be emailed • http://realaccesspro.com/2014-business-plan-samples/

• Please check out our Facebook Page

– https://www.facebook.com/pages/Real-Access-Pro-Inc/187226844647872

Contact Information

• Chuck Ward

• Director of Marketing

– Head Trainer and Coach

• Real Access Pro Family and Sponsors

– RAP Family includes Towne Mortgage Pro (MI/OH) and Atlantic Pacific Pro (NJ/PA/FL)

– Reltco Title (Florida)

888-884-0303 x200 813-447-0510 (best to text) chuck.ward (at) realaccesspro.com