New Real Estate Agent Business Plan For 2022! [Step By Step]

hey guys i'm gonna give you today the 2022  business plan for a new real estate agent   we're gonna keep it real simple because the more  complicated you make this the less likely you are   to actually follow the plan now what i'm going  to give you here is a breakdown first of all of   the numbers required for you to actually have  an amazing 2022. then i'm gonna share with you   the breakdown of the sources of business that you  should consider where's your business gonna come   from and finally i'm gonna give you you a daily  schedule these are different parts of a business   plan again a business plan can have some other  items to it we're going to keep it simple since   you are brand new i am assuming since you are new  to real estate you have zero business right now   and i'm also gonna assume that you're not  interested in spending money buying leads i don't   recommend that i'm going to give you a business  plan where you can generate business every single   day you are going to generate the transactions and  you're going to learn how to do that and the power   in this whether you like this idea or not this is  a duplicatable skill that you're going to learn   mindset meaning what's going on in your head  your beliefs about what's possible for you   is also going to be a huge part of the results  that you get but these are whether it's mindset or   sales skills you're gonna work on them you're  gonna develop a great mindset and great skills   and they're yours forever and as long as  you continue to work on them you're gonna   get stronger and stronger and better and better  and sell more and more homes each and every year   so as a brand new agent let's talk about the  breakdown of numbers i believe it's 100 realistic   for a brand new agent working full-time in  real estate to sell 24 homes their first year   maybe 25 i like the 25 better than 24.  how do i come up with 24 two closed   transactions per month to a month times 12 you  got 24. i want you to write that down as a goal  

now i also want you to write down your average  price what is the average price home in the area   that you are selling i'm gonna use the number 320  000 average commission about 10 000 approximately   i just want to make it a round number here so  average price average commission let's call it 10   000. if yours is five or eight obviously what  you adapt the number you're gonna multiply 24   by your average commission check if it is ten  thousand two hundred and forty thousand 000 would   be your gross income in 2022. now it's a small  percentage of the population that actually earns   that kind of money on an annual basis and you with  your real estate license without any experience   if you follow the plan that i'm going to share  here with you today you can make it happen   the next thing that i want you to write down is  of the 24 closed transactions that you will have   in 2022 how many will be listings sold meaning  a seller who hired you as their listing agent   and this property sold and you got paid the  listing side of this commission how many   will be listings sold and how many will be  buyer sales i will say 24 listings sold zero   buyer sales now let me stop here for a  minute and tell you why i am saying that   listings mastering the skills to  take listings is the single most   effective powerful thing you can do in your  real estate career it's not working with buyers   buyers take a long time uh buyers many times you  can show them a lot of homes and they could end up   buying from somebody else or deciding not to buy  or deciding to rent and when you have a listing as long as you price it right  that property is going to sell   you're going to help this homeowner because they  need a great agent and it's a win-win in every way   i think most real estate agents if you're brand  new um maybe you have not had the experience yet   any agent that's been in business for any  period of time and worked with buyers knows how   time-consuming it is not to mention the fact  that of every buyer inquiry that you get   it could be a sign call it could be  an internet call it could be a buyer   that walks into an open house wherever it  could be a referral from somebody you know   a very small percentage of all these buyers that  may come to you are what we call ready willing   and able a buyer has to have those three ready  willing and able uh criteria let's call it for   you to even remotely consider working with them  and and the three things that i mentioned are not   enough for you to put them in your car and go show  them homes they have to be absolutely committed   to buying from you because they may be ready willy  and able you may show them 10 houses and spend   a few days researching setting appointments  spending time with them and then they decide   not to buy or they buy from somebody else they  drive in front of a home they see a sign they   call the listing agent the listing agent shows  them the property and that's it they're gone so   when you take list genes that doesn't happen this  listing is yours for at least six months because   that's the standard length of a listing agreement  and that's how long your listing should be and   again as long as it's priced right this listing  is going to sell and you will get paid so why   would you want to spend time running around  with buyers that can be rather unpredictable and   extremely time consuming let's not do that you're  brand new to real estate let's start your career   doing what's most effective now is finding sellers  who want to sell so you could take a listing   is it easy no it's not easy is it easy working  with buyers no it's not easy neither one is easy   i guess if i had to to choose which one i think  is easier i'm biased i would say definitely   finding people who want to sell so you can take  those listings and again it's a duplicatable   system that you're gonna have and you're gonna  get better and better at it so 24 listings sold   no buyer sales now what's interesting about this  also is when you have listings you're going to   have buyers coming to you you don't have to look  for them they're going to come as a result of the   listings that you have so what should you do  with those buyers if you're not going to close   any of them refer them to initially since you're  brand new at some point in your real estate career   you may choose to hire a buyer's agent first year  i don't recommend that you need more experience   and it's gonna take some time to hire and train  the right buyer's agent for your first year so   you can stay focused do not start running around  with buyers it you're gonna get totally off track   derailed from just focusing on taking listings  refer these buyers out take a referral fee   and that will be added income for you you can  count on when you close 25 listings sold you can   count on 24 buyers coming to you as a result of  these listings now are all of those going to be   buyers that are ready willing and able if you  refer it to an agent obviously choose someone   who you feel confident will be able to actually  get those buyers under contract so the buyer can   get the service that they are looking for the  agent you're referring to will get paid and   you're gonna get your referral fee let's look at  it this way even if not 20 all the 24 buyers close   20 or 15 this is extra income for you as long as  you don't get distracted and start wasting a lot   of time showing properties to buyers so in the  breakdown of numbers there are a lot of numbers   uh when i work with my clients they create a very  detailed business plan again i'm considering your   new age and you want to keep it simple and these  are the main numbers that you need to remember   i want to talk to you about  the breakdown of your business   you're a brand new agent the first thing that you  need to do and you need to do it quickly and and   just spend maybe a week get it done and then move  on to the next thing you need to make a list of   everyone that you know we call it your sphere of  influence everyone you know look through your look   through your phone contacts look through all of  your contacts all of them don't leave anyone out   and the first thing you need to do is you  need to speak with everyone you know and let   them know that you're now in real estate and  you want to be their agent now when they are   when they're interested in buying or selling you  want to be their agent when they hear of anyone   that might be interested in buying or selling you  want to be their agent and you also want to offer   your services and be a resource for them let them  know if and when you have any questions about real   estate anything at all call me immediately if  you're driving through an area and you're just   curious you're not really looking to move you're  just driving by you see a for sale sign this is   a beautiful neighborhood you're just curious  i wonder how much home sale for in this area   pick up the phone and call me immediately i have  all that information at my fingertips and i'll be   happy to give you all the information you need you  want everyone you know to start thinking about you   as a resource so anytime the words real estate  pop in their mind they come to you and that's   something that you're going to initially you're  going gonna have this conversation with them   and then you're gonna be again speaking with all  everyone in your sphere of influence at least   once every three months once a quarter so be four  times a year minimum now the people that actually   give you referrals that do business with you and  a lot of them will you're gonna start contacting   them more often those are gonna be your a client  sphere of influence the ones that have already   proven to you that they will send you referrals  and give you their their personal business as well   that's number one that's your number one priority  and let's assume that you have 200 people you come   up with 200 whatever the number may be it could  be 50 for you 100 doesn't matter i'm just using   200 as an example what you're going to do is  you're going to create this list and you can   use any type of database i'm not going to talk  there's so many of them out there and it almost   doesn't matter which one you use you just want to  pick one that is affected and only one you don't   want to have some people here and some people over  here where you lose track of what's going on so   pick a a database a crm put all the people  you know into that crm and within the first   your first day in real estate you're gonna pick up  the phone and you're gonna start calling them if   they don't answer the phone these are people you  know you're gonna leave him a message and you're   gonna ask them to give you a call back now i don't  necessarily recommend leaving messages when you're   dialing and calling people you don't know  so that's not what we're talking about here   right we're talking about sphere of influence  and the people you know so you go ahead and   leave them a message because you expect a call  back so you can let them know what you're doing   you can let them know about your new career  the second thing you're gonna do so let's   say if you have 200 people your goal would be  within the first week maximum first 10 days   speak with everyone let's say it takes you 10  days we're talking about 20 conversations a day   absolutely doable and you want to get that out of  the way and then three months later you're going   to call them again and some of them when you have  a powerful conversation the very first time within   between the first call you make and the next  one some of them you're gonna hear from them   they might have questions they might decide to buy  or sell remember you're not going to work with the   buyers but you're going to refer them to somebody  you trust maybe an agent in your office or someone   you know you could speak with your  broker about that so they take great care   of your clients and their referrals so some  of them you're going to communicate more   often because they're going to reach out to  you right what do you do when you run out of   the people you know you've already talked  to all of them they're organized in your   in your database what's next here's the reality  of the business that you're in if you want to   make a lot of money and sell a lot of homes if  you're okay with selling four or five homes a year   you don't need to watch this right now you  could just stop and go do something else if you   just breathe you're you'll sell five homes a year  that's what the average agent in this country does   i assume you're watching this right now because  you want to have an amazing real estate career   you don't want to be average mediocre you don't  need my help anybody's help to do that if you just   if you're looking to be average if you're  part-time and you just want to sell a house here   and there you don't worry you don't even need a  business plan okay so assuming that's not the case   the reality of the business you're in real estate  for someone who wants to excel at it they want to   be the best of the best it's a sales job in a  sales job you actually have to look for people   that want to do business with you sales  people great sales people they don't sit   around and wait for somebody to come  knocking on their door and ask for   can you help me no they go find the clients  and this process of getting out there and   finding clients is called prospect that's it  prospect is not a bad word it's an amazing word   that's gonna make you a fortune in real estate  when you're calling your sphere of influence   you're prospecting that's what it is you're just  talking to people now realize that in in your   real estate market in your area where you're gonna  sell real estate there are infinitely more people   that you don't know than the as an example 200  people that you know that are in your database and   are part of your sphere of influence you're going  to have to get out there you are going to have to   talk to people you don't know and this can be a  lot of fun it's yeah initially my you you might   have some fears and doubt that you can do it  or whatever maybe not maybe some of you are   are watching this right now and you're like super  excited and great okay that's that's an exception   most people when they hear about making calls or  door knocking and talking to people you don't know   it's a little bit intimidating  in the beginning and it's normal   so there are different things you can  do in talking to people you don't know   the first thing i'm going to say to you is as  a brand new agent you need to talk to everyone   everyone that you run into i mean you have a life  you go places you go to the grocery store you go   get a cup of coffee you go to a restaurant to eat  you maybe go to the gym you go to a hairdresser   barber shop you go to a store to buy clothes  and shoes you're out of your home and office   every day all the time and you gotta  remember that everyone everyone out there   could potentially become a client for you now  if they don't know you're in real estate if you   don't introduce yourself if you don't speak about  real estate how are they gonna know they don't   know what you do and they don't know you want  their business so start thinking real estate   24 7. it's what you do it's who you are it's not  just a job it you're an entrepreneur this is your   career and even being brand new not having  closed the transaction yet maybe you are not   confident about anything because just your your  brand new i was brand new too everyone started   as a new agent at some point you have to first of  all you have to have great energy you got to be   excited about helping people in general with their  real estate needs and you have to continuously be   working on your skills improving your skills  learning about your business i'm going to give   you the daily schedule very simple daily schedule  in just a minute so start talking to everyone you   know maybe wear a name tag pass out business cards  just introduce yourself hey my name is jackie i'm   a real estate agent here in the area just want  to give you my information um do you happen to   be interested in buying or selling a home anytime  in the near future that i could that i can help   you with no you know i'm good oh do you happen  to know anyone a friend family or neighbor that   might be thinking about buying or selling  no i don't want anybody okay no problem hey   thank you uh for taking my business card keep my  name and keep my name and number and if you have   any questions about real estate at any point or  know anybody that need my help i'd be happy to   to help them and and do a great job for them  that's it i mean i just made that up quickly   you can probably come up with something a  little bit better it's a short conversation   you may be uncomfortable with this at first  get over it okay you gotta get used to the idea   that to have an amazing real estate career you  got to get out you got to get outside of your   little comfort zone being in your comfort  zone is not going to make you a fortune   in real estate okay who's next well um you  can call or door knock around a neighborhood   um most of you even if you're brand new have  heard of farming where you select a geographic   area and you just start calling in door  knocking and and doing community activities   and open houses in the area and you just focus  on a specific geographic area so you can build   business in that area over time you could  even if you have money or you want to spend   money you could mail stuff and you can get  email addresses and you could email them   newsletters and market information in that area  you don't have to spend any money okay and i i   and i say this from personal experience  but also i have coached tens of thousands   of agents in my real estate career you don't  have to spend money can you sure if you want   to spend money i i'm not the resource for you  i don't know where you should put your money   that you're going to have a return are there good  investments where you spend money to get business   and it actually makes sense you get more than you  spend 100 that's not my strength my strength is   building a business from nothing without  spending any money and in a way and again empower   you to get better and better look if you're  buying business and you don't learn how to sell   and all of a sudden that business source that  you're buying leads from dries up what do you do   when you develop the skills and the mindset that i  am talking to you about here the sales skills the   powerful mindset of a great listing agent these  skills are yours forever it doesn't matter what   happens with the market it doesn't matter where  you're selling real estate you can duplicate   business no matter what is going on out there okay  so and by the way even if you're buying business   and i know you're not watching this because you're  interested in that when you buy business you still   have to talk to those people you're going to have  to have conversations and you're going to have to   handle objections and you're going to have to go  on presentations and you're gonna need to learn   how to close these are all sales skills  that are gonna get you a ton of business   from day one so now you can do the neighborhood  prospecting you can also now these are my two   favorites where all my real estate business came  from and i absolutely love them expired listings   and for sale by owners now why are expired  listings and for sale by owners the single best   prospecting calls you can make because  you are talking to people who want   to sell i mean the goal of talking to anybody is  finding someone who wants to sell whether you know   him you don't know him and it doesn't matter who  they are where they're coming from you want to   find somebody who wants to sell so you can go list  their home expired listings and for sale by owners   want to sell single best source now they may  not be always easy to speak with although some   of them are some of them you just sound confident  and you ask for an appointment they say sure okay   come show me what you've got and now you're  meeting with a the hottest prospect you can meet   now i said some of them may not be very easy  to speak with um but it's it's quality it's   the quality of the prospect you're speaking with  and when i say they may not be easy to speak with   well they're pretty easy once you know how  to speak with them when you have the skills   they're easy when you're not skilled uh it's a  tough conversation but these are these are skills   that you learn i learned them my clients have  learned them and continue to learn and improve   every day and you start converting more in the  beginning even if you have no idea what you're   doing if you talk to enough of them someone  is going to say sure come over and even if   your presentation is not that great  they're going to end up listening with you   it's quantity over quality in the beginning and  then that conversation that that ratio changes and   it flips and it becomes quality over quantity  in terms of the quality of your conversation   is gonna cause the number of people you have to  talk to to go down but in the beginning you got to   talk to more people period in every conversation  you have you either win or you learn you've got to   have that attitude because otherwise it there's  only two ways to do this you either when you   win or you learn or you keep doing the same  thing over and over expecting different results   definition of insanity i don't think so i  don't think that's what you're up to right   so that's where you want to focus your business  the business sources now your daily schedule   this is going to be very simple okay  you're going to start making calls   at 8 00 a.m now double check this with your broker  in many states 8 a.m is the earliest you can   make prospecting calls double check double  check 8 a.m in florida i live in florida so  

for everybody else go make sure with your  broker that 8 am is okay what do you do   prior to 8 am well i'm gonna i'll tell you  what to do and also tell you what not to do from the moment that you open your eyes  in the morning until 8 a.m you are not   gonna check your emails you are not gonna go  on facebook or instagram and social media or   anything else you are not gonna return phone  calls from the day before about real estate   you are not gonna watch the news you are not  gonna allow anything to distract you from   working on your mindset reading great  powerful motivational inspirational books   watching powerful videos listening to audiobooks  reviewing your business plan and your goals   just getting yourself in the right mental state  to have an amazing day and you're gonna practice   your skills just like professional athletes they  warm up before they go in the car to play the game   you're gonna warm up you're gonna take your script  you're going to read them over and over and over   and over out loud as fast as you can you're going  to practice practice practice then you're going to   find a role play partner and you're going to role  play the conversation they'll be the seller you're   going to be the agent you'll take turns and you're  gonna warm up at eight o'clock you're on the phone   and you can take a 10 minute break  every hour and when you take this break   go to the bathroom go have something to  drink something to eat do not get distracted   don't go on social media don't start checking  emails don't start returning phone calls if you're   gonna if you have after you take a break and get  a snack if you have a little a few minutes left   mindset go read a few pages of a great book  that's gonna inspire and motivate you to get   back on the phone and continue doing your job at  a really high level you got to stay on you got to   create momentum and rhythm with the prospecting  that you do this is this morning schedule and   you're gonna do this until noon okay from 8am till  noon this is what really separates great agents   from everybody else and the majority of real  estate agents are you know average and it's   okay not everybody not everybody has the desire  to be the best of the best now i know you've been   this long watching this because you do have that  desire and this is the plan this is the schedule   this is what you need to be doing what do you  do at noon go have lunch take an hour enjoy your   lunch one o'clock come back from 1 to 1 30 you can  follow up on the leads that you have a lead being   someone that you spoke with in the past they  weren't you weren't able to set an appointment   the first time you spoke with them so you're  going to have to call them again from 1 to 1 30.   130 to 230 administrative work now you could  check your emails now you could go return phone   calls for one hour and 2 30 until 5 30 you're  gonna go on appointments you're gonna prepare   for your appointments and you're going to go on  these are listing appointments because you're not   going on buyer appointments and that's about it  that's the end of your day and you're going to do   this monday through friday this is your schedule  from monday through friday your goal is to set one   listing appointment and then pre-qualify  every single day that's that's your goal   that's the only reason why you would spend  four hours on the phone talking to people   can i do that every day well uh yeah of course  you could do that every day you gotta believe   you could do it every day i mean what day would  you not wanna do that you you would want to have   days when you're just talking to people for four  hours and not setting an appointment that's gonna   be your goal every day and when you do that think  about this five days a week and if you're not able   to set one a day monday through friday you might  have to make some calls on saturday morning from   nine to eleven nine to noon is a great time on  saturdays if you set one a day monday through   friday then you get to take your weekends  off okay which you should you're entitled   to but in the beginning i worked i i worked  endless hours my first two years in real estate   and then it started to as my skills improved my  mindset got stronger like i said fewer people   more more and more efficient in the beginning  you're gonna have to go all out so you set one   qualified listing appointment every day and let's  assume that so you're setting five a week one   you end up not going on for whatever reason  either they cast or you can so you go   on four and let's say you just take one one  because you don't know what you're doing you   don't have a great presentation yet and you take  four listings per month one a week four per month   you're not very good at pricing properties yet so  only fifty percent of them sell which then that   percentage is going to increase for you again  as you gain more experience and you learn how   to price properties but let's say initially only  half sell that's your two listings sold per month   that's going to get you to 24 close transactions  a year what an amazing first year that is they're   agents out there that close 100 transactions  first year we're talking starting from nowhere   building your business from scratch just getting  on the phone go door knocking talking to everyone   i know for sure that you can make this happen  and i look forward to hearing about your success

2022-01-28 16:06

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