Business Planning with the Consumer in Mind #68787€¦ · 2017 Georgia REALTORS® partners with...
Transcript of Business Planning with the Consumer in Mind #68787€¦ · 2017 Georgia REALTORS® partners with...
2017 2017
Georgia REALTORS® partners with the Local Boards and
REALTOR® Firms to provide quality, affordable continuing education courses.
Business Planning with
the Consumer in Mind
#68787
Sponsored by:
Georgia Association of REALTORS®, GREC School #271
Partners in Education Program
Visit the Georgia REALTORS® website to learn about
membership benefits, continuing education opportunities,
networking events, and more!
(www.garealtor.com)
NOTICE: The following material is copyrighted and is provided to you for one-time use only in this GAR-sponsored course.
You may not reproduce or redistribute any portion of this packet
without the express written permission from the GAR Professional Development Department.
STUDENT NOTICE
The Georgia Association of REALTORS®, Inc. is approved by the Georgia Real Estate Commission (GREC) to offer continuing education, sales postlicense, and broker prelicense courses. The GREC school code number is 271 with a renewal date of December 31, 2019. The Georgia Real Estate Commission has approved this course for three (3) hours of continuing education credit. GAR school policy defines an instructional hour as 50 minutes. To receive continuing education (CE) credit for this in-classroom course, the student must:
be on time
sign in with the course facilitator before the course begins
be present in the course during all instruction periods
return a completed evaluation to facilitator at the end of course
not have taken this course for continuing education credit within the past 366 days. There is no make-up session for this course. Cell phones and other electronic devices can be distracting. Use of communication methods such as text messaging, E-mailing, web surfing, etc. is prohibited while class is in session if it poses a distraction to other attendees and shall be grounds for dismissal. Taking pictures of PowerPoint slides requires the permission of the instructor. Entrance qualifications and standards of completion will not be based on race, color, sex, religion, national origin, familial status, handicap, sexual orientation, or gender identity. No recruiting for employment opportunities for any real estate brokerage firm is allowed during this course or on the premises while this course is in session. Any effort to recruit by anyone should be promptly reported to the Director of Professional Development; Georgia Association of REALTORS®; 770-451-1831; 6065 Barfield Road; Sandy Springs, GA 30328; or to the Georgia Real Estate Commission; 404-656-3916; International Tower; 229 Peachtree Street, NW; Suite 1000; Atlanta, GA 30303-1605. 10-2016
Presented by
Joi Bostic
Instructor
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Celebrate 2016 Before you move into planning for 2017, take some time now to review
all that you have done. Write it ALL down…NOW!
1. List all of your accomplishments, wins, victories, successes in 2016.
2. List all moments of joy and gratitude.
3. What did you do in 2016 of which you are really proud?
4. What did you do in 2016 that moved you toward your goals?
5. What lessons did you gain from any setbacks, challenges or obstacles?
6. How are you going to integrate those lessons into your 2016 goals?
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2016 Assessment . . . Hard and Honest
Now it’s time to face things that didn’t necessarily cause you to celebrate.
Write down the things that were not worthy of celebration.
7. How do you feel about what has happened in 2016?
8. Are you where you want to be? If not, what stopped you from getting there?
9. What do you want to duplicate?
10. What do you want to change?
Don’t let this limited space limit you. If you have more to write, then get another piece of paper and keep writing.
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Business Planning Defined
Reasons Real Estate Agents Fail to Create Business Plans
Reason #1
Reason #2
Reason #3
Reason #4
Reason #5
Reason #6
Reason #7
Reason #8
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The WHY: My Vision Statement
This is where I want to go, what I want to accomplish or what I want my life and/or
business to look like. I must develop a vision statement so I will know what success looks
like. Otherwise, I will not know when I achieved my vision.
My vision statement can be one concise statement or a long explanation. Either way my
vision statement paints the pictures of what I want…
By the end of 2017, I ____________________________________________________________
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Paste a visual reminder of your vision here.
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Goal Development…
Now that you have figured out what you want, it’s time to determine your GOALS. Your goals
must be clear, concise and SMART, and you must identify your WHY behind each one.
Specific and Simple
Measurable and Meaningful to you
Achievable and Areas of your life
Realistic and Relevant
Time-based and Tangible
Specific and Simple
• Well-defined answer the 6 W’s
o Who is involved?
o What do I want to accomplish?
o Where will this be accomplished?
o When will this be accomplished?
o Which requirements or constraints exist?
o Why do I want to accomplish this?
• Clear to anyone that has a basic knowledge of the project
Measurable and Meaningful to you
• Know if the goal is obtainable and how far away completion is
• Know when it has been achieved
• The test for whether your goal is measurable, check that you can answer these questions:
How much? How many? How will I know when I have reached it?
Achievable and Areas of your life
• Do you have the attitude, abilities, skills and financial capacity to reach your goals?
• If not, what do you need to do to get what’s needed to get what you want?
Realistic and Relevant
• Can you reach your goal within the availability of resources, knowledge and time?
• Are you willing and able to work toward your goal?
Time-Based and Tangible
• Enough time to achieve the goal
• Having a time-frame creates a sense of urgency to get to what you want
• Can you experience reaching your goal through taste, touch, smell, sight or sound?
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My Goals
Goal Deadline Resources
Income
Goal
Volume
Goal
Buyers
Goal
Sellers
Goal
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An Action Plan that WORKS
An action plan is a must for each goal identified. Your action plan lists what steps must be taken
in order to achieve a specific goal. It includes three major elements: tasks, time and resources.
The tasks are specific things to be done and by whom. The time indicates when the tasks will be
completed. And the resources indicate what a task will cost or other resources that will be
required in order to complete the task.
It is essential to create an Action Plan that works for you. An Action Plan has been provided for
you that only involves “real estate business” related tasks and it can be found in the electronic
Business Planning worksheet available by request.
This tool was created to calculate your totals so you just have to enter your daily, weekly,
monthly or quarterly numbers. You will see that the Action Plan includes a host of activities of
which you may not conduct some.
1. Make ______ contacts daily
2. Send ______ personal notes weekly
3. Visit _____ people from my SOI weekly
4. Add _______ people to your database weekly or monthly
5. Contact ____ past clients monthly
6. Respond to internet leads within ____ minutes
7. Contact _____ FSBOs weekly
8. Contact ______ Expired listings weekly
9. Host ______ effective open houses weekly/ monthly
10. Mail or email to your SOI/Past clients valuable market information monthly
11. Mail or email to your designated farm of ______ properties monthly
12. Door knock/ door drop _________ houses monthly
13. Take ____ past client to lunch monthly
14. Network with ____ business to business referrals monthly
15. Hand out 5-10 business cards, 5 days/week and actively ask for business or for
permission to add them to your database
16. Attend ____ networking events monthly
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economy?
• Do consumers have more or less disposable income?
• What is the unemployment rate?
• Is there skilled labor available?
• How is globalization affecting the economic environment?
you could be using?
• Are there technologies coming soon that could radically affect
POLITICAL
• What national, state or local policy changes can be expected from the most recent election?
• Could any pending legislation or taxation change affect your business, either positively or negatively?
• How will business regulation affect your business?
SOCIAL
• What is the population’s growth and age profile?
• Are generational shifts in attitude likely to affect your business?
• What are your society’s levels of health, education and social mobility?
• What social attitudes and taboos could affect your business?
ECONOMIC
• How stable is the current economy?
• Do consumers have more or less disposable income?
• What is the unemployment rate?
• Is there skilled labor available?
• How is globalization affecting the economic environment?
TECHNOLOGICAL
• Are there any new technologies you could be using?
• Are there technologies coming soon that could radically affect the real estate industry?
• What affect can proposed changes in technology have on how consumers shop, live and work?
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Personal Analysis
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Identify Your Consumer
Based on all of the information you just researched, who is your customer/client? What will you
do to attract consumers to you and your services?
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Marketing and Prospecting Activities Prospecting
(Proactive and Direct)
Marketing
(Proactive and Indirect)
Telemarketing
• FSBOs
• Expired Listings
• Just Sold
• Just Listed
• Past Clients
• Geographic Farm Area
• Apartments
• Corporations
• Builders
• Banks
• Human Resource Departments
• Community Survey (conversation
opener)
Advertising
• Newspapers
• Personal Auto
• Radio
• Magazines
• Bus Stop
Benches
• Billboards
• Yellow Pages
• Television
• Grocery Carts
• Moving Vans
• Team
Uniforms
Promotional Items (Magnets, Calendars, Sports
Schedules, etc.)
Websites (Website, Blog, Social Media)
Direct Mail
• Postcard Campaigns
• Newsletter Campaigns
• Just Sold/Just Listed Cards
• Special Event Cards
• Quarterly Market Updates
Face-to-Face
• Door-to-Door Canvassing
• Open Houses
• Client Parties
• Networking Events
• Social Functions
• Community Events
• Seminars and Information Sessions
• Booth at Events
• Speaking Opportunities
Broadcast
• Voice
• Fax
Signs
• Yard Signs
• Directional
Signs
• Open House
Signs
• Brochure
Boxes
On Person
• Name Badge
• Logo Apparel
• Car Signs
• Business Cards
• News Releases
• Advice Columns
• Community/Local Business/Service
Directory
Sponsorship
• Little League
• Charities
• Community
Events
Community/Local Business/Service
Directory: You can compile and distribute
a list or full directory with your information
sprinkled throughout.
Community Survey: Develop a few
questions to ask as a conversation starter
such as how long have they lived in their
home, the best things about the
neighborhood, what they want in an agent,
and so on.
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Online Options Traditional Options
Follow up on all leads within 1-2 hours. Follow-up calls per prospect each month
Email home listings to prospective buyers daily. Schedule time to make calls to past leads
and future prospects
Monitor website activity to determine prospect
readiness
Plan “drop-bys” (Who will they be, what
should be the reason for the drop-by, when
will you do it?)
Email Newsletter (Chimp Mail) Postcards (Use GAMLS tax records to
download addresses for farming areas.)
Choose 20 different prospects every week to
make a personal “touching base” phone calls
Host Open Houses (How many a month
can you do? Which agents will allow you
to host their open houses?)
Create and maintain an ongoing social media
campaign: blog, Twitter, Facebook, etc.
Host Community Outreach Activities
(Volunteer opportunities, Festivals and
Fairs you might man a table at, Events
you’d like to host.)
Contacting FSBOs, foreclosures and expired
(Use MLS Data)
Drip Campaign for your Sphere of
Influence List
Track Your Progress
Business progress – once you track your actions, you can review how you are progressing. This
can lead to
• Better time management – you will have the opportunity to see what’s not working and
eliminate those “time wasters”
• Smarter marketing investment – you only want to send dollars on activities that are
working
• Spotting weaknesses – you can see very clearly where you are struggling
• Focusing on your strengths – you can determine the efforts that are producing the greatest
ROI
• Self-motivation – when you are being effective and that is translated into more
production, you will inevitably enjoy what you do more and want to continue
• Necessary adjustments – you may love to do a particular action, but the market may have
shifted in a direction to make that action ineffective. Constant tracking will reveal that
fact and allow you the ability to make adjustments accordingly.
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NOTES:
A Business Planning tool has been created for you to use to set your goals, outline your action
plans and track your progress. It is available at http://joibostic.com/index.php/business-planning-
tools/. There are two versions. One for experienced agents (Exp) and another for new agents
(New).
© 2017 Inspironix, Inc. (916) 4883222 InspiroScan Survey Form PIE Instructor / Course Evaluation v5 Side 1
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Instructor ________________________________
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Thank you for your input. (Revised 52017)