Listing Expenses: These are the costs to list a property. Examples: cell phone, brokerage and board dues, car, insurance, computer, etc. Operating Expenses: These are the costs of running your business. How can you know where to start? For simplicity, these three categories, at least show us where we can tighten our grip on expenses. Might as well just shut off the lights and try and play darts. These are separated so we aren’t just tasked “reducing expenses”. When calculating your expenses, we recommend categorizing in detail, however, for a simple business plan, we recommend sorting expenses into Operating, Listing, and Marketing & Growth Expenses. This isn’t to say that choosing the right programs isn’t wise, in fact, we have some of our favourite tools for you to browse on Rev Real Estate School. It is too easy to sign up for another piece of marketing software or lead gen system that promises you more deals than you can handle. No worries if you are brand new and don't have this yet! If you are a beginner real estate agent looking for a business plan, this will work perfectly, you just need the number of people in your database Download The Business Plan Now What you need: Previous year's income/expenses and the number of people in your database. If you reverse engineer your goal down to daily tasks, all you need to do is wake up and accomplish your daily tasks! Remember that real estate is a long-term game and you need to maintain execution throughout the year.įocus on the daily tasks and not the end result. Stick to the plan and the plan will work for you. If your production goal is $100,000 this year, let’s try to formulate an actionable plan to get you there.īy setting and following this plan, your chances of success are exponentially better.Ī word of warning: you will not always want to follow this plan! There will be days when a little internal voice tells you it's alright to skip today. It’s commonly said that “a goal without a plan is just a dream”. Reverse engineering in real estate is taking where you want to go and making sense of “how” you will get there.
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