How to Make 2013 Your Best Year in Real Estate

No matter how much business you’re already doing, or how much more you’d like to be doing, the key to meeting your goals is to have a Business and Marketing Plan in place. Often, the hardest part of planning is taking the time to do it. So, as the smart folks at Nike say, “Just Do It.” Realtors, being independent commissioned sales people, are small business owners and should conduct themselves as such. Therefore, developing a comprehensive business plan and financial budget is critical to achieving goals. If you didn’t prepare a business plan when you got into the business, do one now. It will help you optimize growth based on priorities and avoid wasting time on projects not directed toward your goals. Your business plan will enable you to look ahead with a purpose, focus on key points, prepare for opportunities (along with the inevitable problems) and allocate resources to ensure results from your action plan. Your business plan becomes your road map to achieve your goals by calculating the amount of deals you need to close, your cost per deal and profit per deal. The best-laid plans are worthless, though, without a well thought-out strategy to obtaining clients – your marketing plan. SELF PROMOTE A key component of a strong business plan, especially in real estate, is a successful marketing campaign. With the multitude of Realtors in our area, it can be hard for the public to differentiate one from the other. A well thought-out and creative marketing strategy will help set you apart from the masses. With stiff competition and a tough market, you’ve got to make the most of your marketing budget. When you choose your expenditures wisely and ALWAYS promote yourself in a high-quality manner, you’ll find that the dollars you invest in yourself will come back to you in multiple. KISS A standard business plan includes the following. Remember to “Keep It Short & Simple.”

Business Description – History, legalities, name, rank and serial number

Service and/or Product – What you are offering and the benefits to customer

Market Analysis – Who, where, what and how to reach your customers

Implementation Strategy – Responsibilities with dates and budgets to be tracked

Financial Analysis – Budget, projected profit and loss and cash flow specifics

Executive Summary – Summary of highlights, written at the end

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When creating your plan, develop short-term and long-term goals. Start with a 90-day plan, and then include six-month, one-year and five-year plans as well. With the 90-day plan, the key is to monitor it, adjust accordingly and be accountable. A shorter plan is less daunting and allows you to track your progress immediately. A 90-day plan will guide you and become part of a longer-term grand plan. Working in 90-day increments keeps you in tune with market demands and allows you to adjust to change. The key is to revisit and rework the plan every 90 days. READY, SET, GO You’ve done the hard part in making the commitment to plan. Now find a quiet place and do the following soul searching:

Define your target market: age, gender, family structure, income level, neighborhood, price point, etc.

Who is your competition and what makes them competitive?

What marketing worked well last year, what didn’t and why?

Create an image that appeals to your targeted customers.

What marketing vehicles will enhance your image in the next year?

Identify the benefits to your customers of working with you.

What is your unique selling proposition that sets you apart from the competition?

Now define who you are, what you do and why you do it. This becomes your Mission Statement. In less then 30 seconds of reading time it should state who your market is, the benefits of working with you, your basic ideals and ethics. Pick a start and end date and determine what to do in between. List what you want to achieve, how much you want to earn and what your costs are. Once you’re satisfied with your goals and how you are going to get there, highlight the important points (product/service, projected sales/profits, keys to success) in a one to two-page Executive Summary, just enough to entice someone to continue reading. SNAP, CRACKLE, POP It’s the sizzle that gets the attention. If you expect your customers to entrust their largest investment with you, you’d better have an image that defines high standards and superior service. Make sure your message is clear and concise. Whether in the form of promotional materials such as newsletters, postcards, or websites, you need an identity that reflects the kind of business you want to do (high-end sales = high-end materials). The marketing segment of your business plan should define whom you are and whom you are hoping to sell to. Remember, as Realtors you are marketing more than your listings. You are marketing yourself in everything you do including where you advertise, what you say and how you follow through. In developing your marketing materials, be creative and plan for ways to be different than other Realtors. Never be tempted to send out the “cheap” marketing so readily available just to save money. Sadly, marketing that isn’t top-notch only tells your prospects that you aren’t either.

Desert Lifestyle Publishing | 480.460.0996 | www.DesertLifestyle.net

Your marketing should always communicate that you are professional and innovative. As a Realtor, it’s critical to always demonstrate your expertise and industry knowledge – so be sure to show the latest market statistics and real estate activity to your prospects. We hope we’ve given you some inspiration to set goals and make a formal plan. Now, go make 2013 a fantastic year in real estate!!

PUBLISHER’S MESSAGE

Desert Lifestyle Publishing produces a suite of marketing tools for Realtors that are likely the most effective advertising you’ll have ever experienced. Our signature products, the beautiful Magazine-Style Newsletters, are specifically designed to promote you as the top choice in real estate. With high-quality, stunning photography and design, they’re rich with informative content and are a true “wow” when your prospect lays their eyes upon them. And, because we help you provide detailed real estate information in each issue, you’re able to show your real estate knowledge to your prospects with every communication. Contact us today to arrange a brief consultation. We will help you create an effective marketing strategy to make 2013 a great year for your real estate business. Office: 480.460.0996 Email: info@desertlifestyle.net Website: www.DesertLifestyle.net

Desert Lifestyle Publishing | 480.460.0996 | www.DesertLifestyle.net