Archive for Business Plan

New to Real Estate: Look Before You Leap–Questionnaire

October 13th, 2021

Thinking about real estate as a career? Check your preferences first to avoid making a bad career choice.

If you’re new to real estate. See the preferences below and answer to assure you won’t make a career mistake.

I just finished my new book, Launching Right in Real Estate: What They Won’t Teach You in Pre-License School.

In the book, I offer several self-analysis tools to help you make the best decision for yourself. Here’s one that should be really helpful.

Before Your Interview

Let’s say you’re getting ready to go into the interview. Do you know what you’re looking for? Use this checklist to decide what kind of company, office, and atmosphere you’ll feel most comfortable in.

Selling vs non-selling manager

You prefer a manager who doesn’t sell real estate (non-competing)

You prefer a manager who sells real estate (may provide a good role model).

Training

You prefer a formalized training program.

You prefer to ‘go it on your own’, with the manager available to answer questions.

Large/Small Office

You prefer a large, busy office.

You prefer a small, more laid-back atmosphere.

Large/Small Company

You like the idea of a large company behind your efforts.

You like the idea of a boutique, specialty company.

Many/Few New Agents

You want to be around other new agents like you, so you prefer an office with lots of new agents.

You want to be with seasoned agents, and would rather be among the few new agents in the office.

Top Producer Assignment

You want to be assigned to a top producer to find out how that top producer works, and perhaps do work for that top producer.

You want to become an above-average producer fast, and don’t want to be in the shadows of anyone else.

Age of Agents

You want to be around people your age.

You want to be around people of a wide range of ages and interests.

Work from Office/Work from Home

You want to work from the office, and have a desk at the office.

You want to work from home.

No Supervision/Management

You prefer little or no ‘supervision’. You’ll go at your own speed.

You want and expect leadership and guidance as you start your career.

Create Your Interview Questions

Armed with the answers to these questions, you can create pointed, focused interview questions to get the information you need. Keep an open mind, though, because you may find you would benefit from certain types of leadership, since you’re going into a new career.

What did you find out? What aspects of real estate will be pleasant for you? What will be challenging? Where do you need help?

If you’re thinking about a career in real estate, you need this book! Armed with the information here, you’ll find the best interview questions to ask, how to find out what’s important to you–and whether real estate is the right career for you. Buy the eBook now. ***Click here*** to find out more.

Categories Business Plan, career nights, Career Nights for real estate, expectations, Interviewing, Launching Right in Real Estate, new agents make money, New Real Estate Agents, pre-license, Real estate as a career, recruiting, successful real estate salespeople
Comments (0)

How to Allocate Your Time for Best Results

by Carla Cross

July 21st, 2021

Most agents struggle with time management. Here’s how to allocate your time to make more money easier.

I’m just finishing my eBook, Launching Right in Real Estate: What They Don’t Teach You in Pre-License School. In it, I’ve put several self-analysis tools to help those interested people decide whether they will love real estate, are willing to do the work, and what it takes to succeed. In addition, I’ve put several exhibits to help would-be and new agents get off to a fast start.

Where You Spend Your Time Determines the Money You Make

We may be fighting the advice from our training or top agents. In truth, though, there is one way to assure we make money: Talk to people–LOTS of people. Look at the time commitments I’ve recommended:

Figure_3.6_Time_Commitments__How_To_Allocate_Your_Time

Analyze Your Time Management Against My Allocations

Go back a month in your planner. Count the number of hours you spend in various activities. How closely are you following the recommendations above? What do you want to change?

Make a New Schedule with your New Allocations

In Up and Running in Real Estate, my online business planning/training/accountability start-up program, we compare prototype scheduling with poor scheduling. We make our own schedules, analyze, and make adjustments. Result: More commissions in less time.

Thinking about a real estate career? Thinking about whether to stay in real estate? This is the eBook you need. Purchase at 1/2 price while in pre-order. Now $12.95. ***Order here.***

Categories action plan, Business Plan, expectations, Launching Right in Real Estate, new agent business plan, pre-license, Real estate as a career, Real Estate Success, Up and Running in Real Estate
Comments (0)

When ‘No’ Doesn’t Mean No

by Carla Cross

April 28th, 2021

Do you stop communicating after one ‘no’? Find out why that’s a failing strategy.

You don’t want to be a ‘pushy’ salesperson. It’s not pleasant when someone tells you they’re not interested, or ‘just looking’. Because you’re not pushy, you quit communicating with the potential client. The inclination is to go to the next person. Not so fast.

Watch the video and see why accepting that first ‘no’ is a mistake that will negatively affect your bottom line.

Click To Tweet

Want sales training that actually makes a huge difference in the success of your career? Check out my innovative online program, Up and Running in Real Estate. You’ll get a proven business plan, training, and personal coaching with me weekly. You’ll know for certain what to do each day and, most importantly, why you’re doing it so you don’t waste time and money. Is it time for you to invest in yourself? Check it out here.

Categories Business Plan, communication, customer service, expectations, lead generation, new agent business plan, new agent online training, new agents make money, New Real Estate Agents, online training, presentation skills, Real estate as a career, Real Estate Sales, Real Estate Success, Sales Strategies, time management, Up and Running in Real Estate
Comments (0)

Four Ways I Got Snookered with Buyers–So You Don’t have To..

by Carla Cross

March 22nd, 2021

When we’re new agents, we my think that all buyers love us. They will be loyal. They will find us invaluable. Not so fast….

Four ways I got snookered with buyers–so you don’t have to…

Recently, I was coaching a group of newer agents in my eight week, business start-up program, Up and Running in Real Estate. We were discussing the section on working with buyers. We explored the Buyer Consultation process. This process creates value to get loyalty.

As we delved into the process to work with buyers, we discussed the many ways we get into pickles with buyers–without knowing we were falling into those situations. Here are four methods to avoid those situations: (I know, since I got into these pickles by not using these solutions….)

1.The multi-agent buyer. You meet a nice buyer, and you start showing her homes. You find out the buyer is working with three agents.

Solution: Instead of jumping in the car or showing homes to anyone, always do a consultation (what does the buyer want, and what you will do for the buyer). In the consultation, show (in writing, of course) at least 20 things you will do for a buyer. Then, ask for only one thing in return: his/her loyalty. Explain you work with people who work exclusively with you. Then, explain the benefits of that loyalty. (Can you think of three benefits?)

2. The ‘I want to see it now’ buyer. You meet a buyer in an open house, and get excited because the buyer wants to see the property down the street. Without finding out more, you show the buyer the home. The buyer disappears on you, never to be seen again.

Solution: You don’t show homes to buyers without a buyer consultation (which allows you to qualify the buyer). Question: Do you have a written, comprehensive consultation questionnaire that allows you to find out the buyer’s needs and secrets? All other professions do…

3. The I assume I know everything about you buyer. You get a referral to a buyer. Without doing an in-depth consultation, you show the buyer what he says he wants to see. He has a fit when you show him the first home. He says that’s not what he meant (instead of buying in that prestigious area he said he wanted, he buys out past the suburbs on an acre).

Solution: You use that in-depth consultation questionnaire, delving much deeper than the features, or even the benefits. The buyers don’t know what their underlying motives are. You must question professionally to find out and help them.

4. The buyer who wears you out. After working with buyers for a year (a year!!!!), you let them know you were taking off a few days for Christmas. They said they wouldn’t need help during the holidays. When you returned, they told you they bought a home. You were excited for them (not…)

Solution: Before you go anywhere, anytime, let buyers know who will be assisting them in your place–even if they say they won’t be looking. You never know when impulse will strike!!!!

Bottom line: Create a professional process with the foundation of a consultation and stick to it. Have a comprehensive, written buyer information form, along with the 20+ things you will do for a buyer. Then, practice your loyalty dialogue. Design your standards for buyers. You will conquer many of your time management problems and enjoy much more loyalty with buyers.

Do you feel like buyers and/or sellers are snookering you? Are you missing the best part of the business–working with clients who love you? Find out how to create a professional, enjoyable business with my online eight-week business start-up (or restart) program, Up and Running in Real Estate. Also, I coach attendees weekly in a fun, informative coaching session via Zoom. Find out more here.

P. S. I’ve put the dozens of the processes and systems I developed to avoid these depressing situations into this program for your use.

Categories Business Plan, buyer presentation, buyer's agent, new agent business plan, new agents make money, New Real Estate Agents, Real estate as a career, Real Estate Sales, Up and Running in Real Estate, value-added
Comments (0)

What Do You Manage? Surprise…

by Carla Cross

February 9th, 2021

You’re in business for yourself. What do you need to manage?

What do you manage?

You’re in business for yourself. Great. You are in charge of managing how you do your business. But, there’s more. You are also in charge of managing your attitude.

Who Should Motivate You?

According to a recent survey of real estate salespeople, one of the most important services agents want from their manager is to provide positive motivation.

Click To Tweet

Sounds easy, doesn’t it? Part of it is. However, it is difficult for managers to find out what motivates each individual (everyone has different motivators). And it is more difficult to design a motivational program to fit each agent’s needs—time in the business, motivators, outside influences, and so on. Moreover, it’s difficult for a manager to manage the constant flux of attitudes to catch agents when they are falling into depression and to pump them up. Agents’ attitudes change hundreds of times a day. When agents get down, they usually talk to themselves—negatively.

Three Steps to Manage your Attitude for Success

Recognize your attitude about the business will change as you do the activities in the business.
Acknowledge each time you draw a conclusion about your activities.
Develop a process for drawing a positive, motivating conclusion.

Make an attitude notebook (either hard copy or online). To evaluate and manage your attitude, try this simple, effective method. Divide each notebook page into the following six columns:

Self-talk
Conclusions of your self-talk
Positive attitude
Negative attitude
Revised conclusion or revised attitude
Belief

As you go about your business day, keep your attitude notebook handy. Write down each time you talk to yourself—positively and negatively. Let’s say you just held an open house. As you are leaving, you say to yourself, “What’s wrong with me? I thought I was a good communicator, but these people coming into my open house won’t tell me anything.” Write down the conclusion you drew: “Maybe I’m not cut out for this business.” Note these thoughts in the proper column—positive or negative. Obviously, the above comment and conclusion would go in the negative column.

Drawing a Positive, Motivating Conclusion

Studies show that most self-talk is negative, which naturally leads to a negative conclusion. People will talk to themselves about this conclusion 10 to 20 times and convince themselves that this conclusion is true.

Stop and note: How many times to YOU beat yourself up when you make a mistake or the outcomes aren’t as good as you wanted?

Thus, when agents conclude that they cannot be successful in open houses, that idea plays again and again in their minds until they change their positive attitude about their success in the business and form a new belief about their ability to communicate.

Challenge: How Many Times Can You Repeat a Positive Reinforcement?

You can stop this insidious—although natural—process by replacing it with a new process. To do this, you must replace your natural inclination of negative self-talk, repeated again and again, with some positive self-talk, repeated again and again. Replacing negative reinforcement with positive will change your career for the better!

So, tell me. How has this been working for you? Are you changing your negative self-talk for the better?

See Up and Running in 30 Days (business start-up plan book) and Up and Running in Real Estate (business start-up planning training online) for more help in managing your attitude to success.

Recognize ®

Acknowledge ®

Develop New Conclusions

Categories 5th Edition Up and Running in 30 Days, accountability, attitude, Business Plan, Coaching, expectations, inspiration, manager, Motivation, New Real Estate Agents, Real estate as a career, Real Estate Sales, Real Estate Success, Up and Running in 30 Days, Up and Running in Real Estate
Comments (0)

10 Best Questions to Answer for that Business Plan

by Carla Cross

January 18th, 2021

Got that plan done? Check it now against these 10 questions to answer

Have that business plan done? If you have even half of it done, congratulations! I hope you did it in the right order. If you’re ready to create your action plan, you’ll love this post.

Don’t Start at the End of the Planning Process!

“What actions should I put in my business plan for next year?” “What should I do?” “Give me what to do so I’ll do everything right next year.” Unfortunately, that’s doing your business plan backwards. It’s like starting at the end of a piece of music and playing it to the beginning.

Creating your action plan is the last thing you should do in your business plan.

Click To Tweet

What You CAN ‘Copy’ for a Great Business Plan every Time

Another thing you may have heard from agents: “Give me a business plan.” or “I want to use _______’s plan.” That’s another big mistake. It’s your business and it needs to be your plan. However, what you can copy is the process for a great plan. In fact, Dwight D. Eisenhower (former US President), said, “The planning is everything. The plan is nothing.” What he meant was that it’s the thought process that’s important. So, use a planning process that takes you and your agents through the necessary steps. (See Beyond the Basics of Business Planning, for an online business planning system based on the strategic planning process).

10 Questions to Ask Yourself to Create the Right Action Plan for You

Recently, I did a business planning webinar for an association. I provided attendees with 10 questions to ask themselves. The answers to these questions provide the guidance needed to create that effective, individualized business plan. Here are those questions for you to use as you create your plan.

Your Answers will Inspire you to Make AND Use your Plan

Using these 10 questions will motivate you to create plans that work. Let me know your results!

Want more free business planning advice? See my recorded webinar on my website. My latest business planning webinar and planning docs are there for you–Free!

Categories Business Plan, free business planning, new agent business plan, New Real Estate Agents, Pivot business plan, Real Estate Sales, webinar
Comments (0)

Your Mission: How to Inspire Yourself to That Business Plan

by Carla Cross

January 7th, 2021

Unfortunately, most business planning systems just ask you to fill in some forms. Boy, that’s really inspiring….not!

So, how do you inspire yourself (and your team) to create and use your plan?

Create your mission.

What is it?

A statement that defines your real estate career in these areas:

What you do
What you specialize in
What you are selling in real estate
What areas/target markets you specialize in
What kind of services you provide

As important as your mission is in defining what you will do, it also is restrictive, because it guides you in deciding what you won’t do.

Mission statements are:

Not lightly changed
Written in the present tense
Not objectives
Not tied to time

Some examples:

To take my clients step by step through the home buying, selling, or building process as a consultant who approaches each transaction with empathy, integrity, and professionalism, resulting in a nearly 100% referral real estate practice.

We provide superior service to each individual represented by The Farnsworth Team. Our goal is to ensure that our customers and clients have every advantage as we begin, process, and conclude our real estate transaction.

I am a real estate professional.
I specialize in residential properties.
My clients and customers are upwardly mobile and established professionals.
My premise of service is to find out what people want and help them get it.
I proceed with honest, intelligent effort.
I bring to my clients a sincere concern for their welfare.

Gain my mission worksheet here and inspire yourself, your team, and your clients.

Let me know how the mission works for you. I’d love to see your mission statement, too. Email me at carla@carlacross.com. Thanks!

More Help in Business Planning

Want more guidance, specific, targeted worksheets, and help in creating that awesome 2021 strategic business plan? See Beyond the Basics of Business Planning, my online program–one for real estate agents, one for leadership. I’ll guide you right through the process.

Bonus: Invest in Beyond the Basics of Business Planning before Jan. 15 and I’ll also coach you through your plan, with 3 coaching sessions, starting the third week in January.

Less than 2 years in the business or have you done less than 8 transactions: You need my business start-up planning program for agents under 2 years in the business: Up and Running in Real Estate. Regularly $249, it’s $199 for you if you register by Jan. 15 and use the code make $ now.

Categories Business Plan, free business planning, mission, new agent business plan, Pivot business plan, Real Estate Sales
Comments (0)

Make an Action Plan that Works for You: Business Planning

by Carla Cross

December 22nd, 2020

Trying to make your action plan before you’ve answered these questions is a big mistake.

At the end of each year, I dedicate these blogs to all my real estate friends who are doing business plans.

Don’t Start at the End of the Planning Process!

We managers have heard these questions many times: “What actions should I put in my business plan for next year?” “What should I do?” “Give me what to do so I’ll do everything right next year.” Unfortunately, that’s doing your business plan backwards. It’s like starting at the end of a piece of music and playing it to the beginning.

Creating your action plan is the last thing you should do in your business plan.

Click To Tweet

What You CAN ‘Copy’ for a Great Business Plan every Time

Another thing you may have heard from agents: “Give me a business plan.” or “I want to use _______’s plan.” That’s another big mistake. It’s your business and it needs to be your plan. However, what you can copy is the process for a great plan. In fact, Dwight D. Eisenhower (former US President), said, “The planning is everything. The plan is nothing.” What that means is that it’s the thought process that’s important. So, use a planning process that takes you through the necessary steps. (See Beyond the Basics of Business Planning, for an online business planning system based on the strategic planning process).

10 Questions to Ask Yourself so You Create the Right Action Plan for You

Recently, I did a business planning webinar for an association. I provided attendees with 10 questions to ask themselves. The answers to these questions provide the guidance needed to create that effective, individualized business plan. Here are those questions for you to use as you create your plan. Strategic Business Planning 10 Questions to Ask

Let Me Help You Create that Plan

Contact me to find out how I can educate your company or association on business planning and support and coach you. Give me a call at 425.392-6914 or email me at carla@carlacross.com. I can do a webinar series for you, supply you will all the planning documents, and help your leadership coach your agents–at a very affordable cost with big pay-off for you.

Categories action plan, Business Plan, Coaching, free business planning, inspiration, Motivation, new agent business plan, New Real Estate Agents, online training, Pivot business plan, Real Estate Sales, Training
Comments (0)

Your Business Plan: How to Spend your Marketing Dollars

by Carla Cross

December 16th, 2020

During December, I’m focusing my blog on business planning, as well as in my managers’ blog, Management in a Minute. Look for ready to use checklists, processes, and systems. Let’s make awesome plans for 2021!

Today, real estate agents capture much more of the gross commission dollar than ever before. At the same time, they must become real businesspeople, because they must allocate some of these dollars to marketing—to increase their business. But, how do you know how to spend those marketing dollars?

Here are two basic principles of marketing dollar allocation

Principle One. Spend a proportional amount on your best source (s) of business—it will beget more business (your best source of business is from your past clients and people who know and trust you).

Most Agents are Not Spending Their Marketing Dollars Right

A recent study showed that agents spent the largest amount of their marketing dollars on direct mail, advertising, and the Internet. Yet, the majority of their business came from traditional ‘people to people’ sources

•Referrals
•IVR Technology (interactive voice response)–the only ‘technological’ lead generating source
Repeat Business
•Open Houses
•FSBO/Expired Leads
•Face-to-Face Networking

Do you know how much you spent on your best source of business last year?

Only one percent of the agents do. That means they aren’t treating that group of people as a ‘target market’. You must segregate your best sources and allocate funds directly to marketing to them. You must make a marketing plan directly to these people, and attach a budget to this best source.

How much Money Should You Spend?

Principle Two. Spend between 5 and 10% of your projected income on marketing to your best source of business.

Example: If you were to project for next year that you will get 20 sales from your past clients, and that income would be $4000 per ‘revenue unit’ or $80,000, you would allocate $4000 to $8000 to marketing to that source.

Simply reviewing how you spent your 2020 and allocating adequate marketing dollars for 2021 will, in the end, save you money. Also, you’ll have something to measure and adjust.

Your Best Business Planning System

Why not step up to a real strategic plan this year? My system is the only one published internationally for real estate professionals. Check out Beyond the Basics of Business Planning. There’s a program for agents and a program for leadership. Why not create a plan to work for you in 2021?

Categories Business Plan, free business planning, free webinar, Marketing, New Real Estate Agents, Pivot business plan, Real Estate Budget, Real Estate Sales, Real Estate Success, Training, webinar
Comments (0)

Business Planning: Work your Best Lead Generating Sources

by Carla Cross

December 9th, 2020

During November and December, I’m writing about business planning, to inspire you to get your business plan done for next year. Managers, see Management in a Minute for managers’ business planning tips.

Part of your business plan should be your lead generating plan. In Up and Running in Real Estate, we teach you how to prioritize those leads. Do you know which lead generating sources were your best for this year? Have you done a review? Do you know how much money you’re spending on them?

Prioritizing those Sources

When you’re prioritizing your sources, think of these evaluations:

Easier. Which is easiest?

Some lead generating sources require a great deal of sales skill, ability to handle objections, and ability to overcome low trust (like for-sale-by-owners). I’m not telling you NOT to call on these sources. But, you just have honed those sales skills and be very tenacious.

Trust. In which sources is there the largest trust already established?

The larger the trust, the easier it is to get to a ‘close’. Also, you are much more apt to retain the customer long-term–which is worth lots and lots of money to you!

Least marketing cost. Which costs you the least?

If you’re putting money in mass media (like newspaper advertising) to gain leads, you are spending lots of money per lead (figure it out). Do you math and review to see where all that marketing money is going.

Competition. In which is there little competition from other agents?

If you calling on expired listings, along with 40 other agents, you have lots of competition. Do it, if you can be tenacious, develop a great process, and keep at it until you wear out the competition.

Return business. Which will provide you the best long-term business?

To gain return and referral business, you must create high trust and confidence. In sources where you already have a head start, you have a much better chance of creating return and referral business–which costs you much less than new business.

Join us for this complimentary business planning webinar, coming up on Dec. 15 at 10 am PST. Find out what you need in your plan for 2021 and how to create a plan you’ll actually use next year! ***Register here.***

Categories action plan, Business Plan, classroom to online training, free business planning, FREE real estate coaching, free webinar, New Real Estate Agents, online training, Pivot business plan, Real Estate Sales, webinar
Comments (0)

Archive for Business Plan

Let Me Help You Create that Plan

Your Best Business Planning System

Subscribe to Blog

Categories