estate agency business plan pdf

Real Estate Business Plan Template

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Updated March 11, 2022

A  real estate business plan  is a blueprint for the operations and objectives of a real estate agency. The plan can be used to inform prospective investors and business partners, as well as guide internal processes and day-to-day business conduct. The real estate industry is often highly competitive; therefore, firms can benefit from developing a well-researched plan that details market trends, business strategy, and financial projections, in addition to the basic elements of company information and management structure.

Best 10 Step Real Estate Agent Business Plan Template [FREE]

Business plan template and pdf for new and growing real estate agents, goal setting and plan development for real estate agents.

Introduction:

Having a dialed in business plan and model is one of the most important parts of being a real estate agent. Have you ever woken up in the morning as a real estate agent and not known what you were going to do that day? You had a plan at the start of the year, but you just aren’t sure what happened to that motivation you had when you first started your year (or career if you are brand new to real estate).

A real estate agent business plan is your personal guide to keep you on track as you move through your year in real estate. In this plan, you will set goals and reverse engineer how you will achieve them. Reverse engineering your business plan is one of the most powerful things you can do to get to the next level.

Reverse engineering your business plan is one of the most powerful things you can do to get to the next level.

Reverse engineering in real estate is taking where you want to go and making sense of “how” you will get there. It’s commonly said that “a goal without a plan is just a dream”. If your production goal is $100,000 this year, let’s try to formulate an actionable plan to get you there.

By setting and following this plan, your chances of success are exponentially better. A 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. Don't listen to that voice. Stick to the plan and the plan will work for you. Remember that real estate is a long-term game and you need to maintain execution throughout the year.

Focus on the daily tasks and not the end result.

If you reverse engineer your goal down to daily tasks, all you need to do is wake up and accomplish your daily tasks!

Let’s dive into the plan!

What you need:  Previous year's income/expenses and the number of people in your database. 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

There are various business plans out there all with their features and benefits. For example, Icenhower (The Real Estate Traine r) has a great one-page business plan. Also, for new real estate agents, FitSmallBusiness has a great re source and NAR has one as well .

Rev Real Estate School’s Business Plan focuses closely on your database and meeting new people in order to accomplish your goals.

Step 1: Find Your Reason For Real Estate Success

In this step, you will look at the reasons for wanting to be successful. This step always seems so simple and most agents quickly move on to the numbers section, however, this is the most important part of the plan. In fact, it’s the reason you are selling real estate!

If you haven’t read “Start With Why” by Simon Sinek, make sure it is on your reading list! This book explains this step perfectly.

A quick note, make sure you are honest with the reasons you are looking for success. Commonly, we default to the easy answer saying we “want to help people”. Now this should be on your list of reasons why you sell real estate but don’t forget about the other important items

Examples: To reach financial freedom. To provide for my family. To fund my hobbies. To go travelling next winter. To care for my parents. To buy a new car. To improve the real estate industry. To help people reach their real estate goals

Step 2: Income and Expenses From Last Year

In this section of the real estate agent business plan, you will look at the previous year. This can be a real eye-opener for agents. Especially when they calculate their expenses for the year. One of the reasons for agents failing in real estate is not planning their expenses in relation to their income.

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. 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.

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.  

These are separated so we aren’t just tasked “reducing expenses”. Might as well just shut off the lights and try and play darts. How can you know where to start? For simplicity, these three categories, at least show us where we can tighten our grip on expenses.

Operating Expenses: These are the costs of running your business. Examples: cell phone, brokerage and board dues, car, insurance, computer, etc.

Listing Expenses: These are the costs to list a property. It’s best to keep these separate from marketing expenses as you may not want to cut out listing marketing costs before you cut other costs. Examples: brochures, listing photos, signage, 3D-tour, etc

Marketing & Growth: These are costs to grow your business. The can be some cross-over between Operating and Marketing & Growth depending on how you run your business, but in this category are items that could be removed, and your business would still run . Examples: website, CRM, additional training, online lead ads, postcards to your database, farming expenses, etc

Annual Gross Commission Income (GCI): Total Annual Expenses: (If you don't have a full year, you can take the average of your months in the industry and extrapolate) Operating Expenses: Listing Expenses: Marketing & Growth Expenses: Net Income = GCI - Total Expenses:

Step 3: Expense Review

This is your chance to look at those bank statements for the last year (or the time you have been in business) and question each one of those items. If you don’t have an accounting and expense tracking tool, we recommend QuickBooks. Their clear reporting style, ease of use, and very reasonable price make them a great option for real estate agents.

No worries if you do not have QuickBooks or a similar program, just grab your bank statements and go through line by line to see if there are any expenses that can be cut.

Don’t underestimate the power of reducing expenses when it comes to your real estate business plan. After years in the real estate industry, I still didn’t have a proper way of tracking my expenses. When I finally got a handle on where my commissions were going, I was able to increase my net income substantially.

Look for certain expenses that can be cut, and, maybe, account for known future expenses.

Step 4: Playing with The Numbers

This is the fun part! In this section, you can play with the numbers and find a perfect balance of where you would like to end up this year.

In this plan, there are a few assumptions to bear in mind.

Ideally, you want to focus on households (vs. people), but if you are more comfortable working with a number of people, that is fine too.

Each household/person in your database is worth approximately $1,000 GCI to you. This is highly dependent on how you interact with your database and the market conditions. If the market conditions are slow, you may wish to tone this back to $800 “g”. If you are rock solid on your database marketing, maybe you increase this to $1,200 in “g”

For every 25 people you meet, 1 person enters your database.

You work 250 days (5 days/week for 50 weeks)

A person in your database is someone you could pick up the phone and call right now. If that number is low, no worries! It just means we need to work on adding names to your database and strengthening weak ties in your database.

Let's get planning! Note, a person in your database is someone you could pick up the phone and call right now. a) Annual Gross Commission Income Goal (GCI): b) Average Commission Per Transaction: c) Number of Deals (a/b): d) Number of People/Households in Database: e) Number of People/Households in Database Required (a/1,000):          (This will depend on how you interact with your database) f) Number of People/Households Needed in Database (e-d):          (If this is negative then you are set for a great year. See the important note in Step 5) g) Number of People You Need to Meet This Year (f*25):          (For every 25 people you meet, approximately 1 will enter your database)

Step 5: Meeting New People

In this section, you will calculate the number of people you need to meet every day to reach your goal! Fun, right?!

Real estate requires conversations. If you are in a slump, one of the simplest ways to change this just increases your number of conversations!

The number of people you will need to meet every work day is approximately (g/250): (250 days is working 5 days/week for 50 weeks) Aim to talk to 10 people per day for each person you need to meet. For example, if you need to meet 1 new person a day, aim for 10 conversations a day. If you need to meet 3 a day, then you will need to aim for 30 conversations a day. If you had a negative number for "f" then always shoot for a minimum of 10 people/day! 10 Conversations per day should be the minimum for all agents.

*VERY IMPORTANT* If "f" was a negative number then your main focus should be on improving how you interact with your database. If the above number seems high, then you will really need to focus on meeting new people this year.

Step 6: Streams of Business

Now that you have a handle on how many people you need to meet every day and the number of conversations you are going to aim for, it’s time to focus on how you will meet these people.

The beautiful thing about real estate is there are endless ways you can meet people and add them to your database. Below there are some examples to choose from, however, we recommend also thinking of ways you meet people that is unique to you and your network. If you love cars, then forming relationships with those that love cars can be an amazing source of business (plus these people always want larger garages). If you are passionate about a vegan lifestyle, then building relationships in this community can be a source of business.

Also, there can be some overlap. For example, you might be geographical farming, so you will be door knocking, working social media, and meeting people at events, however, the stream of business is geo-farming.

We recommend shooting for 4-5 streams of business to keep your pipeline full.

Examples: SOI/Past Clients, Social Media, FSBO, Geographic Farming , Demographic Farming, Online Leads , Open Houses, B2B Referrals (business contacts), Networking Associations, Builders, Buyer/Seller Seminars, Investors/Landlords, Relocation Companies, Door Knocking, Paid Leads, Sports, Clubs/Associations, Attorneys/Lender, Commercial Agents, Out of Town Agents Referrals, Giving/Charity Efforts

Step 7: Plan For Each Stream

Now it’s time to break down each of your 4-5 streams of business and determine your plan for each of these.

If you are a brand new real estate agent or you have joined part of the way through the year, just fill in a plan for the remainder of the months of the calendar year . That way you can start a fresh business plan next December.

Make sure your plan is challenging but achievable. Like an elastic band, you want it to stretch you but not break you.

Step 8: Plan For Each Stream

After you have put together your desired plan for each of your streams of business, take some time to budget for each of those activities.

If you are a new real estate agent, focus on activities vs. services. Use the additional time you have to choose activities that are free and focus less on the expensive marketing campaigns. As you build up your business, you may wish to increase your spending, but in the beginning, leverage the time you have.

Step 9: Plan Your Perfect Days

Real estate all comes down to skillset, mindset, and consistency. Every day in real estate can be different but we highly recommend having certain non-negotiables in your day.

Your Golden Hours should always be protected. Golden Hours is your time for prospecting, reaching out to new people, connecting with your database, and writing handwritten notes. These are usually the most challenging hours of the day but they will also lead to the majority of your income. Perfecting your website has a time and a place (and is important), however, your Golden Hours will really move the needle on your bank account most.

We recommend having 2 versions of your perfect day. That way you can decide which day of the week will be a Day 1 and Day 2.

Tom Ferry has a great daily schedule plan as does Easy Agent Pro

Step 10: Let’s Wrap It Up

Congrats, you are on the last step of your business plan. In this step, you take a true look at yourself and write down possible reasons why you will succeed or come up short.

Reasons for coming up short usually comes down to habits, consistency,  and lacking focus. Of course, there can be other reasons, but these are the common words put in this category. This section will show you exactly what you need to watch this year.

The final section is a reminder for yourself to keep going when times get challenging, and they will.

If we fall off our plan, it’s ok, forgive yourself but get right back after it as soon as possible.

You can do it!

Conclusion:

Congrats on completing your real estate agent business plan! Remember that real estate comes down to consistency and your business plan is here to keep you on track. Take your time going through your business plan a few times and playing with the numbers. Do some further research on your streams of business, then commit to the plan. Don’t spend months and months thinking about the plan. Commit to it and put it right into action using the reverse engineering techniques.

As you move through this year, reward yourself for your efforts. There is a lot that we cannot control in this world, but your effort is controllable.  

Finally, know that success feels great but it’s not a straight line. We need to endure hard days, weeks, months, and years and we should focus on enjoying the journey throughout our career. There will be challenges and pain (See Quote Below), but pushing through this discomfort is where the growth occurs.

“What pain do you want to sustain?” The quality of your life is not determined by the quality of your positive experiences but the quality of your negative experiences. And to get good at dealing with negative experiences is to get good at dealing with life - Mark Manso n

Follow Up Reading:

15 Best Prospecting Ideas For REALTORs®

Successful Real Estate Agent Daily Schedule

Top 10 Habit for REALTORs®

Do you currently have a business plan? Let me know in the comments if you use a business plan and what is the most important part of the business plan for you!

-Michael Montgomery

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7 Steps to Writing a Real Estate Business Plan (+ Worksheet)

Chris is a writer, coach, speaker, and technology analyst specializing in marketing, lead generation, transactional best practices, and everything in between. See full bio

• Do You Really Need a Business Plan?
• 7 Steps to Writing Your Plan:
• Identify Who You Are
• Analyze Your Target Market
• Identify Your Target Client
• Conduct a SWOT Analysis
• Establish Your Goals
• Create a Financial Plan
• Monitor & Evaluate
• 3 Top Tips for a Killer Plan

A real estate business plan is an essential strategy document that ensures that your business is equipped to survive and grow. It ensures that your time, energy, and cash are being spent efficiently in pursuit of your goals. 

However, unless you went to business school or are an experienced entrepreneur, it can be hard to know where to begin writing your business plan. That’s why we developed a detailed real estate business plan worksheet that you can start using today! Download it below and follow along as we walk you through the seven easy steps to creating a killer real estate business plan.

Download Your Free Real Estate Business Plan Worksheet

Do I Really Need a Business Plan?

Yes. Yes, you do. Even if you’re a solo agent with a supportive broker. Statistically, businesses with a plan do better than those without a plan. Here’s why: 

Your business plan is your roadmap, your blueprint. It will help you reduce risk, identify threats and weaknesses early on, exploit every opportunity, and fortify every strength. 

A killer business plan forces you to think through your goals and objectives, as well as your budget, so that you have a real chance of success right from the beginning. It keeps you realistic and establishes a way for you to clearly monitor and evaluate your success. 

We know business plans sound dull and boring, but we’ve put together a comprehensive worksheet so all you have to do is conduct the deep thinking for the answers and pull it all together. It can actually be a pretty fun exercise. So get ready to dream big, think creatively, plan strategically, and establish yourself for real success. 

Our Free Real Estate Business Plan Worksheet

Ready to get started? Our plan has all the essentials you need to set your business up for success this year and into the future.

Each section provides space for a thorough self-assessment. You’ll get a chance to nail down exactly what services you offer, who your customers are, and how your business will serve them. Our business plan worksheet is the perfect launchpad: a necessary step to take your real estate business to the next level.

Next, we’ll walk you through each step of the template. 

Write a Real Estate Business Plan in 7 Easy Steps

1. tell your story: identify who you are as a real estate agent.

The first step to successful real estate business planning is always self-evaluation. Who are you, why are you in the real estate business—and maybe most importantly—what do you do?

We call this section “Who You Are,” and ask you to develop your:

• Mission statement (your reason for being in real estate)
• Vision statement (what the world looks like once you’ve achieved your mission)
• Executive summary (one to two sentences that summarize what you do)

Need a little more coaching on creating perfectly powerful mission and vision statements? Check out our article on how to make the most of these crucial blocks of your business foundation.

2. Analyze Your Target Real Estate Market

In this section, you’ll examine every corner of the market: which sections are hot, which have slowed down, and most importantly, where the opportunities are. We suggest taking your time and really digging into the MLS and your local Realtor association’s data to figure out exactly what the numbers reveal.

Don’t spend too much time examining numbers on the national or even state-wide levels. Real estate is a local pursuit; what matters most is what is happening on the street level of your community. 

As you’re looking at your local market, also consider your competition. What are your fellow agents doing that’s working? How have they differentiated themselves? Where is the market underserved? 

In our worksheet, we ask you to examine and record:

• General trends (days on market, typical commissions, average sold price, etc.)
• Market opportunities (observed imbalances in supply and demand)
• Market saturations (where is there too much and of what)
• Local competition (who’s out there, and what are they doing well; where are they lacking; are there gaps in services)

3. Identify Your Target Client 

Now that you have deep insight into your market and have identified potentially underserved niches, consider how you will fill this need and what type of clients you want to target. 

Perhaps you’ll be a condo specialist? Maybe you’ll focus on first-time homebuyers. What about the vacant land game? Think long and hard about what you are good at, what you are passionate about, and what the market needs. Once you have an idea of the hole you can fill in your market, you have a good idea of who your customers are.

Once you know who you are targeting, understand them as best you can by creating a client persona. What are their specific needs and concerns? How can you best market to them? Start to understand their stories and you’ll be able to solve their problems. 

4. Conduct a SWOT Analysis

A SWOT—Strengths, Weaknesses, Opportunities, and Threats—analysis is a common tool in business plans, and is especially important in our real estate business plan worksheet.

Here, you evaluate each of these categories using what you’ve discovered about yourself and your business as you’ve been writing. Think of it as a summary-thus-far. 

Then, combine that knowledge with what you know about yourself and how you work. For instance, maybe you are strong in analysis but weak in cold calling. Maybe there is no brokerage that focuses primarily on millennials (opportunity). Maybe your target market is heavily focused on new construction and there’s a construction slowdown forecasted (threat). Generally, strengths and weaknesses are internal, while threats and opportunities are external. 

The SWOT analysis is a great document to keep nearby even after your real estate business plan is complete. In fact, we know several top-producing agents who make a copy of this section and tack it on the bulletin board in their office, just so it is top of mind every day.

5. Establish Your SMART Goals

In this section, you’re going to lay out a variety of different goals for your business: financial, expansion, and more. Use the research and analysis you’ve completed to solidify your goals into measurable statements you can come back to and evaluate periodically.

The key to making this section valuable is to make your goals SMART: specific, measurable, attainable, realistic, and timely.  

Here are some goals you might want to think about:

• A specific gross commission income
• A targeted number of transactions in a specific location
• A certain number of leads in a given time
• Hiring an inside sales agent or assistant within a given time
• Spending a certain amount of time working vs home with the family

6. Create Your Financial Plan 

The penultimate section of your real estate business plan is all about getting the math to pencil out. While financial planning is not everybody’s strong suit, most of the work has already been done for you thanks to the careful investigation you’ve done in the previous sections of your real estate business plan.

In this section of our worksheet, you’ll take account of all your operating expenses, including all your marketing and lead generation costs. You will also be able to calculate the number of transactions required to make the numbers come together. If you’re just starting out and don’t have set expenses yet, don’t worry. This will give you the opportunity to set a budget! 

💰 Pro tip: Remember to separate your personal and business money. You should never draw cash from the same place to buy milk and Facebook ads. Not separating these two sources will make taxes a nightmare, plus it’s easy to go over budget. If your starting assets don’t meet or exceed your startup costs, you’ll need to go back and adjust your strategy until they do.

7. Revisit Your Business Plan to Monitor & Evaluate 

Finally, don’t forget to complete the follow-up section at the end. It may be tempting to get started right away on the plans you’ve made, but you need to plan to revisit your strategy.

Your real estate business plan is a living document, not something carved in stone. We suggest a quarterly check-in to see if the strategies you chose are advancing you toward your goals.

Chris’ Tips: 3 Strategies for Improving Your Real Estate Business Plan

Chris Linsell, Senior Real Estate Writer , The Close

You’ve got your real estate business plan worksheet, and we’ve walked you through exactly what you should expect every step of the way. But, before you start putting pen to paper, we’ve got three tips you should remember when building out your plan of attack.

📌   Pro Tip

1. Your Business Serves Customer Needs First and Your Abilities Second

A common misstep in real estate business planning is building a business around your specific skills, resources, or talents before understanding whether your community has a need for them. 

For instance, if you identify in your SWOT analysis that you’re fantastic at face-to-face, cold lead interaction (you love to door-knock), but you’re working in a community that’s almost exclusively partially occupied vacation homes, you’re likely not going to get the success you desire. 

Start by identifying the needs of your real estate community first , then examine how your skills will meet those needs.

2. Focus on Differentiating Yourself

But don’t throw out those things that make you special! Spend time thinking about what you do better than anyone else and use those abilities to tackle community needs. Creating a business model that looks like everybody else’s is a recipe for mediocrity. The better you explain your unique value to potential clients, the more likely they are to become actual clients.

3. Short-term Strategies Should Support Long-term Goals

Your real estate business plan is about setting goals for yourself and your career. But you’ll never reach those goals if your short-term, day-to-day habits don’t support them.

As you plan and strategize your future while creating your real estate business plan, make sure you’re setting realistic goals that your time, talent, and resources will support. There’s nothing wrong with being aspirational. But don’t set yourself up for failure by creating goals you don’t have the resources to reach.

Bringing It All Together

Creating a killer real estate business plan is a crucial step, one that is often overlooked by individual agents. But with some deep thought, careful analysis, realistic planning, and hard work, you’re sure to create a strategic document that will support and inspire you in the lean times and keep you on track in the excellent times. 

We want to hear from you. How is your real estate business plan coming together? Have any tips? Questions? Let us know in the comments, and let’s keep the conversation going.

Chris is a writer, coach, speaker, and technology analyst specializing in marketing, lead generation, transactional best practices, and everything in between.

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• Writing a Business Plan

Writing a business plan may seem a daunting task as there are so many moving parts and concepts to address. Take it one step at a time and be sure to schedule regular review (quarterly, semi-annually, or annually) of your plan to be sure you on are track to meet your goals.

Why Write a Business Plan?

Making a business plan creates the foundation for your business. It provides an easy-to-understand framework and allows you to navigate the unexpected.

Quick Takeaways

• A good business plan not only creates a road map for your business, but helps you work through your goals and get them on paper
• Business plans come in many formats and contain many sections, but even the most basic should include a mission and vision statement, marketing plans, and a proposed management structure
• Business plans can help you get investors and new business partners

Source: Write Your Business Plan: United States Small Business Association

Writing a business plan is imperative to getting your business of the ground. While every plan is different – and most likely depends on the type and size of your business – there are some basic elements you don’t want to ignore.

Latest on this topic

NAR Library & Archives has already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles ( E ) are available only to NAR members and require the member's nar.realtor login.

Defining Your Mis​sion & Vision

Writing a business plan begins by defining your business’s mission and vision statement. Though creating such a statement may seem like fluff, it is an important exercise. The mission and vision statement sets the foundation upon which to launch your business. It is difficult to move forward successfully without first defining your business and the ideals under which your business operates. A company description should be included as a part of the mission and vision statement. Some questions you should ask yourself include: 

• What type of real estate do you sell?
• Where is your business located?
• Who founded your business?
• What sets your business apart from your competitors?

What is a Vision Statement ( Business News Daily , Feb. 21, 2023)

How to Write a Mission Statement ( The Balance , Jan. 2, 2020)

How to Write a Mission Statement ( Janel M. Radtke , 1998)

Using a SWOT Analysis to Structure Your Business Plan

Once you’ve created a mission and vision statement, the next step is to develop a SWOT analysis. SWOT stands for “Strengths, Weaknesses, Opportunities, and Threats.” It is difficult to set goals for your business without first enumerating your business’s strengths and weaknesses, and the strengths and weaknesses of your competitors. Evaluate by using the following questions:

• Do you offer superior customer service as compared with your competitors?
• Do you specialize in a niche market? What experiences do you have that set you apart from your competitors?
• What are your competitors’ strengths?
• Where do you see the market already saturated, and where are there opportunities for expansion and growth?

Strength, Weakness, Opportunity, and Threat (SWOT) ( Investopedia , Apr. 21, 2023)

How to Conduct a SWOT Analysis for Your Small Business ( SCORE , Apr. 28, 2022)

SWOT Analysis Toolbox ( University of Washington )

Setting ​Business Goals

Next, translate your mission and vision into tangible goals. For instance, if your mission statement is to make every client feel like your most important client, think about the following:

• How specifically will you implement this?
• Do you want to grow your business?
• Is this growth measured by gross revenue, profit, personnel, or physical office space?
• How much growth do you aim for annually?
• What specific targets will you strive to hit annually in the next few years?

What are Business Goals? Definition, How To Set Business Goals and Examples ( Indeed , Mar. 10, 2023)

Planning and Goal Setting for Small Business ( U.S. Small Business Administration )

• Regular work goals.
• Problem-solving goals.
• Innovative goals.
• Development goals

Establishing a Format

Most businesses either follow a traditional business plan format or a lean startup plan.

Traditional Business Plan

A traditional business plan is detailed and comprehensive. Writing this business plan takes more time. A traditional business plan typically contains the following elements:

• Executive Summary
• Company description
• Market analysis
• Organization and management
• Service or product line
• Marketing and sales
• Funding request
• Financial projections

Lean Startup Plan

A lean startup plan requires high-level focus but is easier to write, with an emphasis on key elements. A lean startup plan typically contains the following elements:

• Key partnerships
• Key activities
• Key resources
• Value proposition
• Customer relationships
• Customer segments
• Cost structure
• Revenue stream

Creating a Marketing Plan

You may wish to create a marketing plan as either a section of your business plan or as an addendum. The Marketing Mix concerns product , price , place and promotion .

• What is your product?
• How does your price distinguish you from your competitors—is it industry average, upper quartile, or lower quartile?
• How does your pricing strategy benefit your clients?
• How and where will you promote your services?
• What types of promotions will you advertise?
• Will you ask clients for referrals or use coupons?
• Which channels will you use to place your marketing message?

Your Guide to Creating a Small Business Marketing Plan ( Business.com , Mar. 22, 2023)

10 Questions You Need to Answer to Create a Powerful Marketing Plan ( The Balance , Jan. 16, 2020)

Developing a Marketing Plan ( Federal Deposit Insurance Corporation )

Forming a Team

Ensuring the cooperation of all colleagues, supervisors, and supervisees involved in your plan is another important element to consider. Some questions to consider are:

• Is your business plan’s success contingent upon the cooperation of your colleagues?
• If so, what specifically do you need them to do?
• How will you evaluate their participation?
• Are they on-board with the role you have assigned them?
• How will you get “buy in” from these individuals?

How to Start a Rock-Solid Real Estate Team ( The Close , May 26, 2020)

Don’t Start a Real Estate Team Without Asking Yourself These 8 Questions ( Homelight , Jan. 21, 2020)

Implementing a Business Plan and Reviewing Regularly

Implementation and follow-up are frequently overlooked aspects to the business plan, yet vital to the success of the plan. Set dates (annually, semi-annually, quarterly, or monthly) to review your business plans goals. Consider the following while reviewing:

• Are you on track?
• Are the goals reasonable to achieve, impossible, or too easy?
• How do you measure success—is it by revenue, profit, or number of transactions?

And lastly, think about overall goals.

• How do you plan to implement your business plan’s goals?
• When will you review and refine your business plan goals?
• What process will you use to review your goals?
• What types of quantitative and qualitative data will you collect and use to measure your success?

These items are only a few sections of a business plan. Depending on your business, you may want to include additional sections in your plan such as a:

• Cover letter stating the reasoning behind developing a business plan
• Non-disclosure statement
• Table of contents

How To Write a Business Proposal Letter (With Examples) ( Indeed , Mar. 10, 2023)

How To Implement Your Business Plan Objectives ( The Balance , Aug. 19, 2022)

The Bottom Line

Creating a business plan may seem daunting, but by understanding your business and market fully, you can create a plan that generates success (however you choose to define it).

Real Estate Business Plans – Samples, Instructional Guides, and Templates

9 Steps to Writing a Real Estate Business Plan + Templates ( The Close , Apr. 17, 2023)

How to Write a Real Estate Business Plan (+Free Template) ( Fit Small Business , Jun. 21, 2022)

The Ultimate Guide to Creating a Real Estate Business Plan + Free Template ( Placester )

Write Your Business Plan ( U.S. Small Business Administration )

General Business Plans – Samples, Instructional Guides, and Templates

Business Plan Template for a Startup Business ( SCORE , May 12, 2023)

Guide to Creating a Business Plan with Template (Business News Daily, Feb. 21, 2023)

Nine Lessons These Entrepreneurs Wish They Knew Before Writing Their First Business Plans ( Forbes , Jul. 25, 2021)

How to Write a Business Plan 101 ( Entrepreneur , Feb. 22, 2021)

Books, eBooks & Other Resources

Ebooks & other resources.

The following eBooks and digital audiobooks are available to NAR members:

20 Minute Manager: Creating Business Plans Gather Your Resources, Describe the Opportunity, Get Buy-in (eBook) E

The Straightforward Business Plan (eBook)

Business Plan Checklist (eBook)

The SWOT Analysis (eBook)

The Business Plan Workbook (eBook)

Start-Up! A Beginner's Guide to Planning a 21st Century Business (eBook)

Complete Book of Business Plans (eBook)

How to Write a Business Plan (eBook)

The Easy Step by Step Guide to Writing a Business Plan and Making it Work (eBook)

Business Planning: 25 Keys to a Sound Business Plan (Audiobook)

Your First Business Plan, 5 th Edition (eBook)

Anatomy of a Business Plan (eBook)

Writing a Business Plan and Making it Work (Audiobook)

The Social Network Business Plan (eBook)

Books, Videos, Research Reports & More

As a member benefit, the following resources and more are available for loan through the NAR Library. Items will be mailed directly to you or made available for pickup at the REALTOR® Building in Chicago.

Writing an Effective Business Plan (Deloitte and Touche, 1999) HD 1375 D37w

Have an idea for a real estate topic? Send us your suggestions .

The inclusion of links on this page does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked in this page complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.

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Realtor Business Plan PDF Sample

Use this Realtor business plan pdf sample as a template to follow in order to create your annual business plan and a system for implementation over the course of the year.

Today we are giving you a free Realtor Business Plan PDF Sample to use when creating your own business plan. We are also giving you a free downloadable Action Steps PDF Sample, which supports your business plan. I’m going to break down why these two documents are absolutely necessary for your success this year.

It is essential for real estate agents to create (and implement) a business plan each year. It’s true that people who hit their goals are people who give themselves a process, or as system, by which to make tiny incremental steps to reach their big goal . Along with these free downloads, we will also teach you how to make sure you stick by your business plan, like the top-producing agents do.

VIDEO: Realtor Business Plan PDF Sample

A Realtor business plan pdf sample that works

Top producers live by their annual business plan. They know the powerful effect it has on their success for the year. That said, most real estate agents (low performers) skip it. Usually this is because once a business plan is made, it is forgotten. If you do not implement the plan, obviously it’s a waste of your time. If you want to be a successful Realtor, you need to learn how to implement your business plan like the top producers do. That’s why we are giving you a Realtor business plan pdf sample today. We want to help get you started on the right foot.

Elements of a good business plan

• Simple format. Our 1-3-5 Business Plan makes the 1 big annual goal clear at the top. Then, it breaks that 1 big goal into 3 key focus areas. Finally, there are 5 objectives for each key focus areas.
• SMART goals. The goals outlined on your business plan must be SMART! Specific (GCI, units closed, sales volume), Measurable (based on a number), Achievable (don’t choose a goal too lofty to reach), Relevant (make it meaningful), and Time-bound (give it a due date).
• One page. If your business plan fits on one page, you are more likely to review it throughout the year. It also forces you to be concise and intentional. The one-page format also makes it easy to display at your desk or on a wall of your office.
• Meet, review regularly, and keep yourself accountable. More on this in a moment.
• Action Steps. A good business plan should have an additional document that assigns tasks to people and puts due dates on to-dos. This allows you to timeblock accordingly and pace yourself to accomplish your 1 big goal by the end of the year.

It all starts with 1 big goal

Start your 1-3-5 Business Plan with 1 big annual goal. Make sure that goal is SMART (see above). The more specific the better! When you break down that 1 big goal into 3 key focus areas, those key focus areas must all be in support of that 1 big goal. What key focus areas will help you achieve that 1 big goal? Then, when you create 5 objectives for each key focus area, these need to be actionable and SMART as well. All 15 objectives must be in direct alignment with the 1 big goal at the top of the business plan. You’ll see exactly what we mean when you download our Realtor Business Plan PDF Sample.

Implementation of your 1-3-5 business plan

There are two keys to implement your 1-3-5 business plan. Remember, this process is all about baby steps. The first key is to meet weekly . The second key is to create an Action Steps document to push yourself forward, assign tasks, and add due dates.

1. Team meeting / weekly accountability

If you want a detailed process of how to hold an effective team meeting, pick up The High-Performing Real Estate Team . Good team meetings are focused. In the first half of your team meeting, go over the team dashboard, look at all Activity Based Indicators (ABIs), and hold team members accountable. In the second half of your team meeting, pick a few key objectives on your 1-3-5 Business Plan. See the Realtor Business Plan PDF Sample for some good examples. What is the tiniest, actionable baby step that can be accomplished before your next team meeting? Once those weekly baby steps are chosen and assigned, report back at next week’s team meeting with results.

You are moving forward in baby steps . It’s all about incremental progress. Once you accomplish an objective, you move on to the next. This continues all year long. Make your weekly to-dos as small as possible. (Remember, in this weekly team meeting, we are only talking about your 1-3-5 and the objectives that need to be accomplished to reach that 1 big goal. We aren’t talking about the day-to-day business or customer service issues, or other things going on that might distract you from that 1 big goal.)

Most of the agents and teams that we coach here at ICC accomplish their 1 one big goal halfway through the year. It happens so fast because they take baby steps and suddenly they’ve accomplished their goals. When this happens, you can meet and create a 1-3-5 Business Plan for the rest of the year. When you focus on your business plan and carve out the time to meet weekly and take those baby steps, you meet your goals.

You can do this as a solo agent, yes . But you need to keep yourself on track, and this is hard without group accountability. I recommend that you find a mentor, accountability partner, or coach to push you forward and keep you on track.

2. Action Steps to keep your objectives moving forward

Creating an Action Steps document is great for teams and solo agents alike. The Action Steps document takes each objective that you outlined on your 1-3-5 Business Plan (as shown in the Realtor Business Plan PDF Sample) and assigns each objective to a person with a due date. You’ll have three Action Steps sheets because you have one Action Steps sheet for each of the 3 key focus areas outlined on your 1-3-5 Business Plan.

If you want to ensure that you get stuff done, create your 1-3-5 Business Plan, then create your Action Steps form for each of the 3 key focus areas. Then, you timeblock and add the due dates to your calendar. You will look at your 1-3-5 Business Plan and Action Steps each week, whether its by yourself as a solo agent or at your meeting if you’re a team leader or team member.

FREE DOWNLOAD: Realtor Business Plan PDF Sample

Sign up for our newsletter and receive a free download of our Realtor Business Plan PDF Sample, as well as our Action Plan PDF.

If you can create these two documents to support your 2022 goals, you’re going to be much better at sticking by your business plan. And, ultimately, accomplishing those goals.

Need more help creating your 1-3-5 Business Plan?

Enroll in our online course, Business Planning . This course takes the mystery out of real estate business plan and guides you through the entire process. It includes information and helpful templates for both solo agents and teams of varying sizes and structures.

Want to learn more?

• Enroll in our Business Planning online course. Designed specifically for Realtors, this course will walk you through the creation and implementation of your 1-3-5 Business Plan.
• Read The High-Performing Real Estate Team . You can buy Brian Icenhower’s best-selling book on Amazon .
• Subscribe to The Real Estate Trainer Podcast. You can find it on Apple Podcasts , Google Podcasts , Spotify , Podbean , and anywhere you listen to your favorite podcasts.
• Join the Real Estate Agent Round Table . We are always posting fresh content, including market updates, free templates, and host dynamic discussions with the industry’s top producers.
• Subscribe to our newsletter. In the sidebar of this blog, you’ll see a form to fill out to subscribe. You’ll be the first to find out about our new resources, free downloads, premium online courses, as well as promotions.
• Reach out and talk to an ICC coach. Not sure which of our coaching programs is right for you? Let us help you.

Check out our latest posts:

• The Realtor Scoreboard – How to Track Lead Generation
• Scripts for Realtors – “Interest Rates Are Too High!”
• Real Estate Broker Coaching – The Future of Teams & Brokerages
• Real Estate Manager Coaching to Grow Agent Count
• The Real Estate Broker Scoreboard
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• business plan
• business plan template
• team meetings
• the high-performing real estate team

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How to manage a., related posts.

Real Estate Team Business Plan Template

Realtor Business Plan 2023 Template

Brian Icenhower

Brian Icenhower is the CEO and Founder of Icenhower Coaching & Consulting (ICC), which provides customized coaching and training programs to many of the highest producing real estate agents, teams, and brokerage owners in North America. This progressive company also produces online courses, podcasts, training materials, white label training portals, speaking events, video modules, and real estate training books. ICC is one of the largest real estate coaching companies in the world with thousands of clients and a large team of the most accomplished coaches in the industry.

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Real Estate Agent Business Plan Template

Business Plan Outline

• Real Estate Agent Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan

Real Estate Agent Business Plan & Example

You’ve come to the right place to create your real estate agent business plan.

We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their real estate agencies.

Real Estate Business Plan Example

Below are links to each section of your real estate agent business plan template:

• Executive Summary – The Executive Summary is the most important part of your business plan. It is a brief overview of your real estate agency, its products and services, niche market opportunity, and competitive advantage.
• Company Overview – In the Company Overview, you will provide a detailed description of your real estate agency, its products and services, company structure, management team, and Founders.
• Industry Analysis – The Industry Analysis is a critical part of your real estate business plan. Here, you will provide an in-depth analysis of the industry in which your real estate agency operates. You will cover topics such as industry trends, major players in the industry, market size and growth, and profitability.
• Customer Analysis – In the Customer Analysis, you will identify your target market and provide insights into their needs and buying habits. You will also segment your target market and discuss your marketing strategy for reaching them.
• Competitive Analysis – In the Competitive Analysis, you will identify your competition and provide insights into their strengths and weaknesses. You will also discuss your competitive advantage and how you plan to stay ahead of the competition.
• Marketing Plan – In the Marketing Plan, you will discuss your marketing strategy and tactics. You will also provide a sales forecast and budget for your marketing activities.
• Operations Plan – In the Operations Plan, you will discuss your business’s day-to-day operations. You will also provide business milestones that you plan to achieve and a budget for your operational expenses.
• Management Team – In the Management Team section, you will provide an overview of your management team and their experience in the real estate industry.
• Financial Plan – In the Financial Plan, you will provide a three-year financial projection for your real estate agency. This will include your income statement, balance sheet, and cash flow statement.

Next Section: Executive Summary >

Real Estate Business Plan FAQs

What is a real estate business plan.

A real estate business plan is a plan to start and/or grow your real estate business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can  easily complete your real estate business plan using our Real Estate Business Plan Template here .

What Are the Main Types of Real Estate Businesses?

The most commonly known type of real estate business is residential real estate sales. This involves the sale and purchase of homes. The other type of real estate business is commercial real estate, where businesses focus on commercial properties.  Other types are real estate investors, lease companies and property management.

What Are the Main Sources of Revenues and Expenses for a Real Estate Business?

The main source of revenue for a real estate business are commissions earned from client real estate sales and rentals fees. Other revenue generated in this business are profit income, interest income and dividend income.

The key expenses for property management companies are salaries and wages, advertising, travel and supply costs for each transaction.

How Do You Get Funding for Your Real Estate Business Plan?

Real estate businesses are typically funded through small business loans, personal savings and credit card financing.

What are the Steps To Start a Real Estate Business?

Starting a real estate business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Real Estate Business Plan - The first step in starting a business is to create a detailed real estate business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your real estate business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your real estate business is in compliance with local laws.

3. Register Your Real Estate Business - Once you have chosen a legal structure, the next step is to register your real estate business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your real estate business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Real Estate Equipment & Supplies - In order to start your real estate business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your real estate business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful real estate business:

• How to Start a Real Estate Business

Don't bother with copy and paste.

Get this complete sample business plan as a free text document.

Real Estate Brokerage Business Plan

Start your own real estate brokerage business plan

RJ Wagner and Assoc. Realty

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.

RJ Wagner & Associates Realty, Inc., is an S corporation domiciled in the state of Texas. This corporation is capitalized by one single stockholder and one principal investor, Regina Wagner.  Regina Wagner is a licensed broker and the sponsoring broker for this firm. The licensed broker of this firm will sponsor licensed real estate agents (independent contractors) in the state of Texas. This corporation will formalize the real estate services offered.

RJ Wagner & Associates Realty, Inc., will open its doors for operation in July.  The office is located in Houston, Texas (Champions area) in the Greenwood Square Shopping Center, to provide services to the higher income section of Metropolitan Houston.

Credibility and reputation excel with the broker of this firm, with a published real estate book and real estate organizational programs placed in the Houston Association of Realtors and the Dallas Association of Realtors bookstores and superstores. For the past year novice licensed agents have enjoyed the organizational tools and guidance offered in the book Texas Real Estate/The Mobile Mentor.

1.1 Objectives

The primary objectives of our organization are to:

• Become a profitable organization allowing us the freedom of taking advantage of other real estate investment opportunities as they become available.
• Recruit and hire self-motivated, success-oriented, and hardworking sales agents.
• Maintain an office of at least 15 sales agents who meet the previous requirements.
• Develop a solid, corporate identity in our specified targeted market area.
• To establish good working relationships and begin working as a team, promoting communication and suggestions from all participants.
• Become one of the top brokerage firms in operation in the Champion area by our third year of operation, or before.
• Realize a positive return on investment within the first 12 months.

We believe the above-mentioned objectives are obtainable because of the professionalism of the manager and sales associates this corporation will hold.  Individuals gaining a real estate license leave school with the knowledge of the real estate laws and procedures. The turnover rate in this business is high since agents have no training outside the laws and regulations of the business itself. Once they have a license, only then, they may obtain the sales and marketing training that is needed upon entering the profession. This training is available at a high price to the agent. When starting out, most agents are not able to obtain this training at the high prices set forth, and without the proper training the average earnings of a beginning real estate agent is very low in comparison to industry standards.

The office environment we will be providing will be productively arranged yet inviting to the agent as well as the client. There will be a location in the office each day with a daily marketing routine/schedule to follow.  Agents have the opportunity to be guided each day through a marketing plan to gain clients. They may choose to follow the guidelines and  training provided or they may follow their own daily routines. We will be supplying a program allowing the new agents to earn more than the average real estate agent by providing guidance and stability.

If an agent with our company sets a goal to obtain only one seller and one buyer for the month, on an average of $150,000 sale on each side, would earn the agent $6,750 per month X 12 months = $81,000 per year. Regina’s goal as the broker is to assist each agent in conquering this goal.

The same sales as noted above would profit the corporation $2,250 per month X 12 months =  $27,000 for the year X 15 agents = $405,000. This is not including sales from the active broker of this corporation which would be $4,500 commission from each side to total  $9,000 (100%) to the corporation.   The broker will receive a salary from the corporation.

1.2 Mission

This plan is written as a guide for starting and managing this new business, and will also serve as the basis for a separate, detailed marketing plan. Following is a summary of the main points of this plan.

• The objectives of RJ Wagner & Associates Realty, Inc., are to generate a profit, grow at a challenging and manageable rate, and to live up to the ethical codes set forth by the Texas Real Estate Commission.
• The first mission of RJ Wagner & Associates Realty, Inc., is to first recruit Texas real estate agents. The agents choosing this firm will receive top commission allowing them more financial advantage for advertising in order to gain more business.
• The ongoing mission will be to assist both homeowners selling their homes, as well as homebuyers purchasing the home of their future, by providing professional and personal assistance. Ensuring customer’s best interest are always of the utmost importance.
• The keys to success for RJ Wagner & Associates Realty, Inc., are marketing and networking, responsiveness and quality of customer service and generating repeat customers.
• We wish to establish a successful partnership with our clients, our staff members, and our title companies, that respect the interests and goals of each party.
• The local market for this business, while not new, is wide open for new and expanding brokerage firms.
• An initial financial analysis of the viability of this venture shows outstanding promise and results. Several sources note that the real estate business has proven to be quite lucrative in today’s fast-paced world.

While so doing, the company will always continue to strengthen its position in the target market area by providing superior customer service to clients and to sales associates.

In conclusion, as shown in the highlights chart to follow, this plan projects rapid growth, as additional agents join, and high net profits over the next three years. Implementing this plan, in conjunction with a comprehensive and detailed marketing plan, will ensure that RJ Wagner & Associates Realty, Inc., rapidly becomes a profitable venture for the owner as well as for the contracting agents.

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Real Estate | How To

How to Write a Real Estate Business Plan (+ Free Template)

Published June 30, 2023

Published Jun 30, 2023

REVIEWED BY: Gina Baker

WRITTEN BY: Jealie Dacanay

This article is part of a larger series on How to Become a Real Estate Agent .

• 1 Write Your Mission Statement
• 2 Conduct a SWOT Analysis
• 3 Set Specific & Measurable Goals
• 4 Plan Your Marketing Strategies & Tactics
• 5 Create a Lead Generation & Nurturing Strategy
• 6 Calculate Your Income Goal
• 7 Set Times to Revisit Your Business Plan
• 8 Why Agents Need a Real Estate Business Plan
• 9 Real Estate Business Plan Examples & Templates
• 10 Bottom Line
• 11 Frequently Asked Questions (FAQs)

A real estate business plan lays the groundwork and provides direction on income targets, marketing tactics, goal setting, lead generation, and an overview of your industry’s competition. It describes your company’s mission statement in detail and assesses your SWOT (strengths, weaknesses, opportunities, and threats) as an organization. Business plans should include measurable goals and financial projections that you can review periodically throughout the year to ensure you meet your goals.

Continue reading to see real estate business plan examples and discover how to write a real estate business plan. Start by making your own by downloading and using the free real estate business plan template we’ve provided below.

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Real Estate Business Plan Template

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💡Quick tip:

Market Leader provides a comprehensive paid inbound lead, automated marketing, and CRM solution to help agents acquire, engage, and nurture real estate leads.

Furthermore, Market Leader offers and guarantees you a number of exclusive seller and buyer leads in your target niche at a monthly rate.

1. Write Your Mission Statement

Every real estate agent’s business plan should begin with a mission statement, identifying your values and why your business exists. Your mission statement serves as the guide to achieving your ultimate business objective. When you create a solid clear mission statement, all other items identified in your realtor business plan should be aimed at fulfilling this statement.

Compass’ mission statement: “Our mission is to help everyone find their place in the world.” (Source: Compass )

Your mission statement should identify your target audience, what product or service you provide, and what makes your business distinct. As seen in the example above, a powerful mission statement should be short and concise but sums up a business objective.

Let’s take Compass’ mission statement above as an example: “Our mission is to help everyone find their place in the world.” The statement identifies what the company offers, for what reasons, and who it benefits.

2. Conduct a SWOT Analysis

SWOT is an acronym that stands for a business’ strengths, weaknesses, opportunities, and threats. The primary objective of these four elements is to assess a business by evaluating internal and external factors that can drive decision-making and help you make more money . Conducting a SWOT analysis as you develop your business plan for real estate uncovers opportunities to differentiate yourself from the massive competition currently on the market.

Strengths & Weaknesses

Strengths and weaknesses are internal parts of your organization. Strengths identify what product or services you provide better than others, your access to resources, and items that benefit your customers. Weaknesses are items that need improvement, lack of resources, or what your competition does better. These are items within your control to change because you can convert a weakness into a strength.

See the example below if “Agent X” was doing their SWOT analysis:

Opportunities & Threats

External factors drive opportunities and threats and are areas you can take advantage of to benefit your business. Examples of opportunities can be shifts in the current marketplace, emerging trends you can capitalize on, features that competitors lack, or even changes with your competitors. Threats, on the other hand, are anything that can negatively impact your business. You don’t have control over changing the opportunities or threats, but you can develop a practice to anticipate and protect your business against the threats.

The opportunities and threats for “Agent X” would be:

When you complete your SWOT analysis, use it as a guide when creating strategies to meet your business objectives. To gain the most benefit from creating a SWOT analysis, make sure you are being realistic about your business and evaluating it in its present state. You don’t want to be unrealistic by listing strengths or opportunities that don’t exist yet, and you want to allocate time and money to the most impactful solution to your business issues.

If “Agent X” completed the above SWOT analysis, a few strategies they could derive would be:

• Incentivize agents to keep them at the brokerage for longer
• Implement a technology-based key machine to reduce lost keys and keep the team accountable
• Find a competitive advantage against competing brokerages and use that in marketing messages

Zillow agent finder (Source: Zillow )

To help agents locate other brokerages operating in your preferred market, agents can use Zillow’s agent finder page as a research tool to see which agents or brokerages are operating in a specific area. You can find an agent by location, name, specialty, and language. Once you click on a Zillow profile , you can read their reviews, see their team members, contact and website information, and property listings. Take a deep dive into your competitor profiles and can use the information to implement strategies within your own business.

Visit Zillow

Read how our experts feel about this real estate lead generation company in our Zillow Premier Agent review .

3. Set Specific & Measurable Goals

You’re ready to set some business goals after clearly defining your mission statement and SWOT analysis. Goals can help set the tone to increase your performance and drive your business in the right direction. Your goals should have a definitive way to show progress, which can be a prime motivator to keep you on track to achieving them.

Each goal should follow a pattern to identify set criteria. This will ensure that your daily efforts are performed to meet business objectives within a set period. A way to do this is by using SMART goals:

Examples of SMART goals for agents or brokerages:

• Increase closed transactions by 20% to a total of 150 deals within the next year
• I will ask all closed clients for a referral and review within 30 days of closing the deal

Goals can be split into short-term and long-term goals. Short-term goal lengths vary between days and weeks but do not exceed six months. Short-term goals can also be worked on simultaneously with long-term goals. Long-term goals can take up to six months or more to complete and require careful planning and perseverance. A mix of short-term and long-term goals will help you maintain motivation.

All goals are equally important; however, success will stem from how you prioritize each one. Slowly add on additional goals as you have the capacity and feel comfortable with the current progress of your current set of goals. Without identifying your business goals, you’ll leave your results up to luck to attain your business objectives.

4. Plan Your Marketing Strategies & Tactics

Developing marketing strategies and tactics and implementing them help you identify and locate your current value proposition in the real estate industry, along with specific timelines for execution. In addition to determining your overall business objectives and goals, your marketing strategy and plan should include the following:

• Pinpoint general marketing goals
• Estimate projected marketing budget
• Know your geographic farm area data and identify your target niche audience
• Analyze market competition
• Identify your unique selling proposition
• Establish a timeline and set your plan in motion
• Track your progress and readjust as needed

While a marketing strategy identifies the overall marketing goals of your business, developing marketing tactics will help you achieve those individual goals. They can include referral business tactics, retention efforts, and ways to acquire new customers. For example, you can offer incentives to anyone who refers your business, or you can implement new email drip campaigns to help increase lead conversion rates.

These tactics should have set key performance indicators (KPIs) to help you evaluate your performance. For instance, a KPI you can set for your business could be that referral business should exceed 20% of your lead generation sources.

If you’re unsure how to put together your marketing plan, check out our article Real Estate Marketing Plan Template & Strategy Guide and download the free template to get started.

Postcard campaign example (Source: ProspectsPLUS! )

If direct mail is part of your promotion strategy, services like ProspectsPLUS! can help easily create and distribute mailers to a targeted area. It also has options for postcards , brochures, newsletters , flyers, and folders. You can also send mailers to prospective clients by geographic or demographic farm areas through its campaigns. Check out its templates and mailing options today.

Visit ProspectsPLUS!

Read how our experts feel about this real estate direct mail service in our ProspectsPLUS! review .

5. Create a Lead Generation & Nurturing Strategy

Having a successful lead generation strategy will help you maintain business growth. Lead generation can be performed organically and through paid advertisements to attract and convert prospective clients. In addition to generating leads, agents should have systems to manage, nurture, and re-engage with contacts to maximize opportunities.

Generating leads through a multipronged approach is the best way to maintain lead flow. Use organic strategies like hosting an open house, reaching out to your sphere of influence, and attending networking events. Employ paid generation strategies, such as purchasing leads from a lead generation company or setting up a website to funnel potential clients. Your marketing strategies will directly correlate with your lead generation strategies.

Every lead is an opportunity, even if they don’t immediately convert into a deal. Effectively nurturing leads can make sure no opportunity falls through the cracks. Agents can nurture leads by continuously engaging and developing relationships with prospective leads . It’s important to provide prospective clients with a constant flow of essential and relevant information, depending on where they are in the real estate buying or selling process.

Here are the top lead generation companies for real estate agents and brokers:

Engage more efficiently with buyer and seller leads using Market Leader’s new feature Network Boost. Network Boost has shown a 40% increase in agents successfully connecting with leads. Market Leader social media experts design highly targeted and optimized ads for your Instagram and Facebook. As visitors engage with your ads, they will be prompted to complete a form and funnel directly into your Market Leader client relationship manager (CRM). This will also trigger an automatic marketing campaign that nurtures your clients and lets you know they are ready to engage with you personally. Try Market Leader’s Network Boost today.

6. Calculate Your Income Goal

Your income goal is one of the most critical items to be included in your business plan. While this may be more difficult for new agents who are still learning the business, it’s still necessary to estimate the amount of money you will earn for the year. Work with an experienced agent or mentor to help you estimate your monetary goals. For professional agents, review your previous years to judge your income goals for the upcoming year.

To calculate your income goal and the amount of work you’ll need to complete to get to that goal, you’ll need to have some basic number estimates:

• Net income: The amount of money you will put in your pocket after commission splits with your real estate brokerage.
• Fee split with brokerage: This is the agreed-upon commission split you have with your brokerage for each completed transaction. For example, if you have a 70/30 split with your brokerage, you will collect 70% of the commission, and your brokerage will receive a 30% commission for each deal.
• Estimate of completed deals per year: You also want to estimate the number of deals you intend to complete yearly. Remember that some months will be busier than others, so make sure to account for holidays, weather, and your schedule.

Real Estate Yearly Goal Calculator

By figuring out these numbers, you can give yourself a realistic number for your income goal. Compute the gross income commission (GCI) or amount of money you must make before the commission splits and the average profit per deal and month you’ll need to reach your goal.

For a more detailed breakdown of your yearly goal, download and use our yearly goal calculator. Input your information into the highlighted yellow boxes, and the spreadsheet will automatically calculate the GCI, total deal count, and gross income you’ll have to earn each month to reach your goal. Adjust the average gross commission per deal and brokerage split as necessary.

FitSmallBusiness Year Goal Calculator

For additional information on real estate agent salaries, review our article Real Estate Agent Salary: How Much Do Real Estate Agents Make?

7. Set Times to Revisit Your Business Plan

Business plans are only effective if you use them. A business plan is a roadmap for your business, and you’ll need to revisit it often to ensure you’re staying on track. It should be a constant resource to guide you through meeting your goals and business objectives, but it’s not necessarily set in stone if you need to make any changes.

Agents should revisit their business plans monthly to measure progress and make any changes to stay the course. If you find that you’re missing the times set for your goals, then you should continue to revisit your business plan regularly. Changing the business plan itself should occur annually once you can have a complete picture of your yearly performance. Evaluating the business plan can help you discover new strategies and ensure you have the appropriate resources for the upcoming year.

Overall status of sales activities in the dashboard (Source: Pipedrive )

Sales software like Pipedrive can help you track your overall business performance when revisiting your business plan. It presents company sales data in easy-to-visualize dashboards that track your business performance and contains forecasting tools to project future revenue. It can maintain company and team goals with progress tracking to keep goals top of mind.

Visit Pipedrive

Read how our experts feel about this real estate customer relationship manager (CRM) system in our Pipedrive review .

Why Agents Need a Real Estate Business Plan

A real estate business plan keeps you up to date on market developments and one step ahead of your competitors. It also enables you to test lead-generating tactics and create new marketing campaigns while keeping track of results over time. A solid business plan for a real estate agent presents the following:

• Where you are at the moment
• Where you would like to be
• How you’re going to get there
• How to evaluate and measure your performance
• When and when to correct the course

Real Estate Business Plan Examples & Templates

Real estate agents and brokerages don’t have to build their business plans from scratch, as many resources provide different examples. Business plan templates can also have different objectives. Some are used to secure financing or help you focus on lead generation, while others are single-page plans meant to get you started.

Here are five real estate business plan examples you can use to create yours:

Lead Generation & Income Plan

Market Leader business plan example (Source: Market Leader )

This business plan is from Market Leader, a third-party lead generation platform. It specializes in lead generation, marketing, and converting leads into customers with an attractive IDX (Internet Data Exchange) website and robust automation tools. Agents can also participate in purchasing leads through their lead products to receive a guaranteed number of leads per month.

A Single-page Business Plan

Business plan for real estate (Source: PngFind )

Agents who are new to writing a business plan can start small. Business plans do not have to be multipage to be effective. This single-page business plan helps identify a single goal followed by three areas to focus on and five objectives for each focus area. As real estate agents begin to feel comfortable with goal setting and completion, they can continue to add to this single-page business plan with duplicate pages, identifying additional goals.

Business Plan for Real Estate Brokers

Real estate broker business plan (Source: AgentEDU )

This robust real estate broker business plan is designed to address organization and management goals. It contains pages identifying personnel information like title, job description, and salary. The business plan also encourages the broker to identify operational goals for future personnel changes. It’s best suited for a broker with a larger team to help drive operational change.

Business Plan With Detailed Financials

Example of real estate agent business plan template (Source: FinModelsLab )

This multipage business plan contains eye-catching graphics and detailed company financial information for real estate agents and brokers seeking funding from outside investors. One of the last sections of the business plan is a financial planning section geared toward showing how viable your business is through your provided income statements, cash flow, and balance sheet reports.

Real Estate Developers’ Business Plan

Realtor business plan template sample (Source: Upmetrics )

Upmetrics’ real estate business plan templates are easy to edit and share and contain professional cover pages to help agents convert their business ideas into actionable goals. The business plans from Upmetrics are geared toward agents looking to transition into real estate development. This plan includes vital sections important for a developer to analyze, such as building location, demand for housing, and pricing.

Real estate CRM (Source: Market Leader )

Market Leader’s business plan is centered around driving more business through lead generation. It helps agents understand their lead sources, average sales price, and how much commission was earned in a given year. It also allows agents to set income and transactional goals for the following year.

Visit Market Leader

Bottom Line

Whether you are a new real estate agent or looking to grow your brokerage, writing a real estate business plan template will help you define the steps needed to build a successful business . It serves as a guided roadmap to help you achieve your business goals, identify areas of improvement, and provide guidance in all aspects of your business, from marketing, operations, and finance to your products and services. Business plans can help determine if your business is viable and worth the financial investment.

Frequently Asked Questions (FAQs)

What is a real estate business plan.

A real estate business plan is a document that presents an outline of your organizational goals. A business plan lays out future company goals and structured procedures to achieve them. Business plans commonly contain plans for one to five years at a time, though they can differ from investor to investor.

A real estate business plan will put you in a position to succeed while also assisting you in avoiding potential pitfalls. It serves as a guide to follow when things go as expected and when they diverge from the initial plan of action. Also, a real estate business plan will ensure that investors know the steps they need to take to succeed.

How do I jump-start my real estate business?

It is important to note that starting a real estate business is not a simple task. Before launching a firm in any field, entrepreneurs should spend numerous hours researching and developing a solid business plan. As you start your real estate business, use the following tips as guidance:

• Think about your professional goals
• Conduct extensive research
• Organize your finances
• Create a business plan
• Establish an LLC
• Make a marketing plan
• Create a website
• Start campaigns
• Keep track of leads
• Develop a network of connections

How can I grow my real estate business?

You can use multiple strategies and ways to grow your real estate business. They include:

• Assess your current situation
• Invest in your professional growth
• Establish strategic alliances
• Take advantage of omnichannel marketing
• Start blogging
• Create consistent social media profiles and campaigns
• Improve your website
• Consider working with a marketing company
• Optimize your signs and direct mail

About the Author

Find Jealie On LinkedIn

Jealie Dacanay

Jealie is a highly creative individual who loves reading. She has always seen writing as an opportunity to apply her knowledge and express her ideas. Over the years and through her internship at a real estate developer in the Philippines, Camella, she developed and discovered essential skills for producing high-quality online content.

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Real Estate Agency Business Plan Sample

JUL.10, 2013

Every investor would want to succeed, and they might even be aware of how to do that, but being successful requires adherence to a thoughtful and deliberate process without room for guesswork or chance. All businesses need a business plan to succeed, and real estate is not an exception.

Why you need a Real Estate Business Plan

Getting into the real estate business can be daunting but also rewarding. Our startup real estate business plan is an excellent way to start you off in this business. A business plan is a document that fully analyze and describes a particular business with detailed and complete information about the short and long-term objectives of the firm. When you take a road trip to an area that you have never been before, you will not trust your guts by just heading to the direction of your destination, but you will most likely get a GPS, a smart phone or a roadmap.

This is because the road to your destination is unknown and unpredictable. The seemingly right track may lead to the wrong place and sometimes the wrong path may seem to point towards your goal. A roadmap will show you the pitfalls you want to avoid, unique things to see along the way, and the easiest route to take. The same principle applies to your journey into real estate investing. Therefore, carefully crafting your real estate company business plan will be an integral part of your journey.

We know that real estate business planning is vital to building a sustainable and healthy real estate business, measuring and defining your sales objectives, and expanding your business proactively and holistically. Our experts can help you create a robust real estate management business plan that will assist you with organizing and growing your company.

We understand that it is vital for real estate entrepreneurs’ to undertake their duties as a business so as to set and achieve their objectives. A real estate investment business plan will allow a real estate investor to identify targets, and also develop the necessary action plans towards attaining them. Our real estate investment company business plan will allow an investor to see the bigger picture, and focus on the business objectives more than on minor setbacks. Investing in real estate can be demanding and complicated, but a solid roadmap will keep an investor organized.

Starting a new career as a real estate agent is exciting, and you want to hit the ground running. Although your long term success depends on many things, a good new real estate agent business plan is critical. A real estate agent business plan written by our professionals will not only excite and give you enthusiasm as you meet your first client, but it will set you off armed with adequate knowledge and preparation to deal with what may come your way as you build your career.

Real estate business success should not be guesswork thinking. When you create a business plan as real estate agent, you will understand how to compete in your market and the issues that may affect your business growth. Our business plans for real estate agents provide precise measures for business growth and how to implement the measures.

Although real estate schools provide agents with the education needed to understand real estate law and contracts, they do not cover the aspects of running the business. Real estate agents are associated with brokerages but operate as self-employed salespeople. A business plan for real estate agents, who particularly work independently, will help them keep track of their growth while making the necessary adjustments to succeed.

Why Create a Business Plan for Real Estate Company?

Get help when you need it.

Investing in real estate is not easy and requires much expertise to run the business profitably. We know that learning the legal procedures necessary and understanding the business may be challenging to someone attempting to do things on their own. Successful real estate investors often attribute part of their success to others whether a consultant, mentor, a supportive friend, a lawyer, accountant, etc. Rather than struggle on your own, you can hire us to write you a commercial real estate business plan, and you will realize it worth to embrace other peoples’ expertise and the additional cost to get help when you need it.

Develop a Niche or Focus

We can help you develop your niche and gain a deeper understanding that is necessary to become successful. Concisely, developing a niche involve in-depth learning about a particular type of business in the real estate industry, whether it is real estate agency or wholesaling and become grounded in that area. Through experience over the years in writing real estate business plans we know that you better be an expert in one thing than to be a jack of all trades but a master of none. Once you learn a particular market, we can help you move to another area using a similarly comprehensive approach.

Understand the Risks Involved

While writing a plan for you, we include a real estate financial model that explains how your business will make money. We just don’t tell you how it will be easy for your real estate business to make money. As prudent partners, we advise you on the risks associated with the business not only regarding the legal consequences involved but also the real estate deals and help you structure your business to reduce/avoid the risks. The costs associated with a valuable partner can be negligible compared to the savings he can bring to your real estate business.

Upholding High Ethical Standards

Our promise is not only a professional business plan for real estate investors but also helping you comply with the prevailing standards of practice, policies, and code of ethics. Unless they belong to membership organizations, real estate investors are not bound by ethics in their practices so long as they operate within the law. However, real estate agents are bound by a specific State’s real estate commission rules and standards. A real savvy investor who wants to remain in the business for the long haul understands the value of conducting legitimate business and upholding high ethical standards. Reputation is vital in this business because you deal actively with people.

Why We Should Hire Us to Write a Business Plan for your Real Estate Company

• Our expert writers are the most qualified in the industry
• Our experience with business estate planning spans the following areas; commercial real estate development, real estate agency, residential real estate development, residential real estate investment, etc.
• We invest in research and planning to compile all the information in a meaningful way that is easy to understand
• We have served many customers who always come back to us for our services
• We deliver what we promise

Direct Benefits of a Real Estate Investing Business Plan

Preparing a plan will help you identify the specific resources and skills that you already have in hand and those which you must develop further for you to be successful in your real estate business.

A business plan is a comprehensive guide for achieving your business objectives. How much should be your marketing budget, the number of sales you need to break even, how much you expect to earn, etc. Our robust real estate development business plan will help you in answering these and more questions. In the process of your business growth, it will let you know your position concerning those goals.

Both the very act of helping you prepare the document and the end product – the business plan itself – will help you decide whether the venture is essentially sound or whether it will work. Real estate financial modeling that is included in our plans will gauge your expected income against the invested capital to give you an answer on whether the venture is profitable or not.

A business plan will not only help you think more deeply into your real estate investing business from varying angles, but it is also a great sales tool. We can assist you in writing your business plan for real estate development in a compelling style that will make banks, other lenders, and business associates feel the urge of working with you.

Download Real Estate Agency Business Plan Sample in pdf

OGS capital professional writers specialized also in themes such as business plan home inspection , RV park business plan template , shelter business plan , hotel business plans , flipping house plan of a business , real estate business plan , etc.

OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.

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Real Estate Business Plan Template

Real estate businesses come in a wide range of sizes and styles, from one person offices that handle a few homes in a handful of neighborhoods to enormous chains that cover both commercial and residential properties across the country. Many new real estate agents try to expand too much too soon, failing as the result of unsustainable growth. A written business plan will keep you on track and help you grow your real estate business in an organized way. In addition, if you plan to seek funding, investors and lenders will use your business plan to determine the level of risk.

Download our Real Estate Business Plan Template here >

What Is a Business Plan?

Your business plan provides a snapshot of your real estate company as it currently exists, and lays out a road map for the next three to five years. It highlights your business goals, identifies potential challenges, and describes your strategies for overcoming adversity and meeting your goals. It is a living document that should be frequently updated as your real estate business grows and evolves.

Below is our general template for real estate business plans. We also have templates for specific types of real estate businesses as follows:

• Property Management Business Plan Template
• Real Estate Agent Business Plan
• Real Estate Development Business Plan
• Real Estate Investment Business Plan
• Rental Properties Business Plan

Why You Need a Business Plan

If you’re looking to start a real estate business or grow your existing real estate business you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your real estate company in order to improve your chances of success. Your real estate business plan is a living document that should be updated annually as your company grows and changes.

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General Real Estate Business Plan Template

Your business plan should include 10 sections as follows:

Executive Summary

Although it serves as the introduction to your business plan, your executive summary should be written last. The first page helps financiers decide whether to read the full plan, so provide the most important information. Give a clear and concise description of your real estate company. Provide a summary of your market analysis that proves the need for another real estate business, and explain your company’s unique qualifications to meet that need.

Company Analysis

In your company analysis, you will detail the type of real estate business you are operating. For example, are you an existing real estate agent looking to launch your own company or are you an existing real estate brokerage looking to expand?

Describe the company’s founding, current stage of business, and legal structure. Highlight any past milestones, such as lining up key clients or hiring an agent with a proven track record. Elaborate on your unique qualifications, such as expertise in a currently underserved niche market and include a mission statement, if possible.

Industry Analysis

In your industry analysis, you need to provide an overview of the real estate market. The real estate industry is incredibly large and diverse, but your analysis should focus on your specific segment of the market. Do you specialize in multifamily residential buildings? Single family homes? Office buildings? Small commercial properties? Figure out where your real estate company fits in, and then research the current trends and market projections that affect your niche. Create a detailed strategy for overcoming any obstacles that you uncover.

The following questions should be answered in the industry analysis section of your real estate business plan:

• How big is the real estate market (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your real estate business. You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

Who will purchase your real estate? Are they first-time homebuyers? Upwardly mobile young professionals? Developers, speculators, or investors? What is important to them in a real estate agent? Do they require hand holding through the entire process, or are they savvy buyers that just want you to show them the properties that interest them? How do they decide on a particular property? Narrow down their demographics as closely as you can, and then figure out what their unique needs are and how you can fulfill them.

Competitive Analysis

Your direct competitors are those real estate companies that fulfill the same needs for the same target market as yours. Your indirect competitors are real estate businesses that target a different market, or other companies that fulfill a different need for your target market. Describe each of your direct competitors individually, and talk about the things that set your real estate company apart. Categorize your indirect competitors as a group and talk about them as a whole.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses in a SWOT analysis. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

Marketing Plan

A solid marketing plan is based on the four P’s: Product, Price, Promotion, and Place. Your marketing efforts should center around these four marketing strategies. The Product section describes the real estate you sell along with any other services you provide. Price will change according to the specifics of the property, but you can delineate your fees here. Promotion is your means of getting new business. Place is your physical office location, along with your web presence and the areas where you sell. Another category, Customer retention, refers to the ways you will build loyalty.

Employing a marketing strategy based on these four principles will allow you to generate leads for prospective clients.

Operations Plan

Your operations plan explains your methods for meeting the goals you set forth. Everyday short-term processes include all of the daily tasks involved in signing up clients, showing properties, and closing sales. Long-term processes are the ways you will meet your defined business goals, such as expanding into new markets or new types of properties.

Management Team

The management team section highlights the backgrounds of the key members of your team. Focus on those aspects that prove your team’s ability to build and run a successful company. A business mentor or advisor can help fill in any gaps, provided you can identify the specific ways that your advisor will influence your company’s growth.

Financial Plan

Investors and lenders heavily scrutinize the financial plan, but it is often the most challenging part of the business plan to write. Real estate is a fickle market, subject to changing whims and economic cycles. Yet the financial plan requires you to detail your specific business model and individual revenue streams by implementation timeline and relative importance, and disclose any sources of outside funding. You also need to summarize your past and future Income Statements, Cash Flow Statements, and Balance Sheets, based on key assumptions that must be both reasonable and verifiable based on an analysis of similar companies. You should also provide a solid exit strategy that shows your understanding of the market and your desire to capitalize on profitability.

Your full financial projections should be attached in the appendix along with any other documents that support your claims, such as letters from key partners.

Real Estate Business Plan Summary

Putting together a business plan for your real estate business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the real estate industry, your competition and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful real estate business.

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Real Estate Business Plan FAQs

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Growthink's Ultimate Real Estate Business Plan Template allows you to quickly and easily complete your Real Estate Business Plan.

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You can download our real estate business plan PDF template here . This is a business plan template you can use in PDF format.

This can be used for a commercial real estate business plan too.

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How to Plan, Start, & Grow a Real Estate Business: 27 Essential Tips

Published: January 10, 2023

Starting a real estate business isn’t for the faint of heart. What other industry requires you to cold call dozens of leads every day but only close five deals in your first year (if you're lucky)?

It’s a common adage that 3 out of 4 real estate agents fail within the first five years. But for those who have what it takes, starting your own real estate business can absolutely give you the seven-figure job of your dreams.

Here’s a down-to-earth look at how to start your own real estate business, plus advice for avoiding mistakes that hijack momentum as you grow.

Know Before You Go

For many new agents, real estate is their second, third, or even fourth career. You loved the idea of “being your own boss” while making more than you did at your last job, but freedom has a very different meaning for an employee versus a business owner.

The question is ... which are you?

The first thing you need to know about starting a real estate business is that, yes, this is a business. Whether you’re a solo agent or new to a team, if you have dreams of outperforming the average real estate agent salar y ($44,507 per year), you need to start thinking like a business owner — and that means planning.

How to Start a Real Estate Business

• Craft your ideal personal plan.
• Write a real estate business plan.
• Build a consistent marketing plan.
• Get a website.
• Prospect consistently.
• Nurture leads.
• Have good time management.

1. Get a CRM.

At the end of the day, a business is a system.

Barry Jenkins is the broker-owner of the #2 Better Homes and Gardens Real Estate Team in the United States. He’s also a guy who hates inefficiency. “I, to a fault, like to make things easy. The reason my business is so successful is that it was built on the core principle of leverage.”

In order to bring that principle to life, Barry uses his CRM as a true lead conversion machine . A CRM is a Customer Relationship Management system that helps you organize your contacts and come up with actionable insights. With it, you can walk leads through relevant nurture campaigns based on lead source or automate the entire transaction process.

This is incredibly useful in real estate because the home buying process is so long with many different steps, multiplied across many agents and even more leads and customers.

Using a CRM to achieve boss-level organization is how Barry and his team sold 240 homes in 2017. And it’s not all about the front end, either. Barry also uses his CRM to send automated onboarding drips to new team members and keep the business admin completely streamlined so that nothing important ever falls through the cracks.

2. Craft your ideal personal plan.

Before you set the right financial goals for your business, you need clear financial goals for your life.

Commissions are great but — let's face it — we all came into this business wanting something bigger and better than what we had. 

Whether that’s the 187-foot yacht of your dreams or the ability to leave the office at 2:00 PM so you can pick up your kids from school, take time to think through what your ideal life would look like.

Consider the following questions: 

• What time do you want to start work?
• What time do you want to finish?
• How do you want to feel each day?
• How much money do you want to make?

Want to retire at 65? Pay your kids’ college in full? Figure out how much you need to put aside every month in order to make that happen. 

It’s so much easier to keep picking up that phone when you know exactly where your profits and commissions are going.

3. Write a real estate business plan.

Now that you’ve put pen to paper to figure out exactly what your biggest, most anti-paycheck-to-paycheck life looks like, it’s time to talk business.

Start writing your real estate business plan, paying special attention to the things that set you apart from other businesses in your area. Give it some real thought. This is where your personal and business identities can really come together to make profit-driving magic.

Start with these questions:

• How does selling real estate make a meaningful difference for you, your prospects, and even the world?
• What are the values and principles that drive your real estate business?
• How are those different from the real estate business next door?
• What are the three to five things you are going to own completely in the business?
• Who will take care of the rest?

Even if you’re just looking to take administrative work off your plate by hiring your first virtual assistant, it's critical to create that big-picture vision to keep your team inspired and avoid repeating unproductive patterns.

Featured Resource: Free Business Plan Template

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4. Build a consistent marketing plan.

In the beginning, it was all about passing your licensing exam, selecting your best-fit brokerage, and building up your database without coming across as “ salesy ” to the friends and family in your sphere of influence (SOI).

However, kicking back and coasting as soon as the referrals start rolling in is one of the biggest mistakes growing agents make. Whether your dream is to become the next Facebook ads guru or a master of Zillow conversions, the only thing you really need to know about marketing is that it’s the one part of your business that never sleeps.

Let these questions guide your marketing plan: 

• What does your unique approach and personality bring to the table for your prospects?
• What can you offer that no one else can?
• What are the latest buying, selling, and pricing trends in your market?
• What are some creative ways to discuss these trends (including the numbers) with prospects?

First, nail down your unique value proposition. This will drive all your future marketing.

Featured Resource: Free Marketing Plan Template

5. Get a website.

97% of all buyers now use the internet as part of their home search.

This means that no matter how much local marketing you do, you need a web presence to attract and engage online leads. It may cost a little money upfront, but a solid, SEO-focused website is essential to success. 

Your site should allow you to integrate internet data exchange (IDX) listings and usher those leads right into your CRM.

Once you have this asset in place, you can start moving toward a consistent blogging and social media strategy to generate more leads.

6. Prospect consistently.

Shiny object syndrome is a big problem in real estate. But the most consistent agent always wins, so choose your prospecting system and stick to it.

In the early days, it’s never a bad idea to optimize your SOI. In fact, the Atlanta-based Graham Seeby Group transformed a list of just 279 contacts into $90 million in home sales in just four years by consistently marketing to their past clients and sphere.

Here’s how co-founder Justin Seeby tells it:

“We focused on the ‘mets’ in our database and it was amazing the volume of transactions we started doing right out of the gate! For example, we did $2 million worth of sales from one couple I hadn’t talked to in 13 years. I mailed them a postcard, because I was afraid to pick up the phone and call them. I didn’t know if they’d know who I was. When they got the postcard, they called me. They ended up spending $1.2 million on a new house and selling an $800,000 house.”

Justin’s prospecting strategy was based on a simple schedule of mailers, emails, and phone calls. A winning system doesn’t have to be complicated, but it absolutely must be consistent.

7. Nurture leads.

If a lead contacts you, they expect to hear from you.

Mike Pannell is a master lead generator and the leader behind Nu Home Source Realty . According to Mike, a follow-up system is crucial to long-term lead conversion. 

“I tell my agents that 70% of people are not going to buy for 180.5 days. If you’re waiting on those new leads to buy, you’re only going to close 3%,” he says. “That will make you enough money to survive, but your goal is six months and beyond. You’ve got to follow up to get to those; you’ve got to build that pipeline to get to those people.”

In addition to avid blogging and website optimization, Mike also checks up on the competition to see what's happening on the ground. 

“I sign up on a lot of different websites out there. I don’t give them a real name, but I give them a real phone number,” he says. “And I can tell you what, I don’t get a lot of calls."

Be the agent who’s always there, and you’ll automatically beat the herd.

8. Have good time management.

If you’re like most of us, a big part of the dream is to have more time and energy for the things that really light you up.

But most agents who set out to build a real estate business haven’t built that into the plan. They end up with a revolving door of team members and have to outwork the business problem du jour. But it doesn’t have to be that way.

For experts in automation, a motivating factor is saving time. By eliminating manual work through automation, you can free up time to focus on the activities that actually drive revenue. 

The ability to do marketing automation further underscores your need for a CRM, which ends up acting as the engine that supports your efforts. 

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How to Start in Real Estate

• Get a real estate license.
• Find a brokerage.
• Join the National Association of Realtors (NAR).
• Pay your dues.
• Find a mentor.
• Get crystal clear on who your ideal customer is.
• Build your personal brand.

Once you've created your personal vision, business plan, and unique value prop, it's time to get down to brass tacks.

How do you enter the real estate field and develop as a real estate professional? Here's what you’ll need to do.

1. Get a real estate license.

Obtaining a real estate license is an important first step in your real estate career. The timeline, qualifications, and costs of getting your real estate license are different from state to state, so consult your local real estate bureau to understand what’s required. 

Many states require pre-licensing and renewal courses as well. Once you have your license, however, you can legally sell, broker, or rent real estate in the state in which you’ve obtained your license. There’s one caveat here: Most states require you to work with a brokerage for the first two to three years as an agent. So let’s dive into what that means.

2. Find a brokerage.

A real estate brokerage is an agency where real estate agents work. You might choose to work for a national franchise like Keller Williams Realty or a local boutique brokerage in your area. There are also virtual brokerages popping up around the internet, so do a little digging and find out which option best aligns with your goals.

Consider company culture, commission structure, and possible mentorships when you’re selecting a brokerage. Choose where you’d feel you’d thrive, be fairly compensated, and be able to learn from skilled people.

3. Join the National Association of Realtors (NAR).

Want to call yourself a REALTOR®? Until you join the National Association of Realtors , you can’t. A NAR membership will also earn you access to the Multiple Listing Services (MLS) where you’ll be able to search through all of the listings in the network.

4. Pay your dues.

Don’t expect to get your license, join a brokerage, and start selling million-dollar homes. 

Digital marketing strategist Hillary Robert says , “New real estate agents need to know that building a business takes time, hard work, and effort. To build a sustainable career in real estate, they need to be willing to put in the elbow grease to build an audience and database of contacts. Then they need to learn how to work it, provide value, and be consistent.”

Prepare to roll up your sleeves, do the hard work networking and supporting more seasoned realtors for a few years, and don’t expect to be bringing in the big bucks right away.

5. Find a mentor.

Learn from those around you. Is there someone in your brokerage who specializes in for sale by owner (FSBOs) or has a knack for running Facebook ads? 

Schedule time to grab coffee with them once a month, see if you can shadow them for a day, or offer to help with a project they’re spearheading.

Spend time and build relationships with people who are good at the things you’d like to be good at. It will pay dividends in the years to come.

6. Get crystal clear on who your ideal customer is. 

Working with first-time home buyers is vastly different than working with retirees who are downsizing into an active adult community. Both of those groups are different from second-chance home buyers who are entering the market again after recovering from foreclosure. 

Not only does each of these subsets require different considerations and industry knowledge, but they’re also different audiences. This means they do not share the same needs, concerns, or goals. 

If you want to resonate with prospects, you must understand their pains, problems, desires, and triumphs. The first step toward doing that is to create a buyer persona . 

This exercise can lead to information and perspective that will inform your marketing efforts, your messaging, and even how you present your personal brand.

7. Build your personal brand.

One thing that seasoned real estate agents know to be true is that real estate is a lead-generation business. You should always be building your personal brand and expanding your network.

You can do this by building a personal real estate website outside of the one you have on your brokerage’s site. Create a social media presence for your professional brand. And host happy hours and networking events that will get your name out in the community. 

Read on for even more tips on building your personal brand and lead generation engine.

How to Grow Your Real Estate Business

• Leverage your sphere of influence.
• Start networking.
• Learn how to use sites such as Zillow to your advantage.
• Check the cost for Google Ads in your area.
• Run Facebook ads.
• Optimize your website for organic search.
• Start blogging.

1. Leverage your sphere of influence. 

When you’re just starting out, you won’t have much of a lead generation engine outside of your SOI, so make sure that your sphere knows that you’re in the industry if they need anything. 

Many real estate agents worry about being too pushy with family, friends, and acquaintances, but if you avoid spamming and only work your profession into conversations organically, you won’t have an issue. This is a big part of your life, and they should know about it.

2. Start networking.

Your sphere is as powerful as its size, and you don’t want to draw from the same well over and over again. One way to widen your SOI is by going to networking events and interacting with other business owners in the community. After all, they might also be potential home buyers. 

Just keep in mind the Law of Reciprocity, making sure to give in these situations just as much as you take. The more you interact and engage, the more your name will stick in their minds. You definitely want that in case they ever need you in the future.

3. Learn how to use sites such as Zillow to your advantage. 

Zillow and similar sites have more authority and larger audiences than you, so it only makes sense to use them as tools for growing your business. 

Many of these sites allow you to create an account, connect your listings, add contact information, and more. Should someone stumble on one of your listings or your profile, they’ll be able to connect with you.

4. Check the cost of Google Ads in your area. 

Because real estate is such a competitive industry, especially in metro areas, Google Ads may not be a cost-effective strategy. However, it doesn’t hurt to check the cost for Google Ads.

Remember people are taking to Google at the beginning of their home-buying journey. Google Ads is one of the quickest ways to drive traffic to your website, so if the cost per click isn’t too high for your target keywords, it is a viable option.

Featured Resource: PPC Planning Kit & Templates

5. Run Facebook ads.

Sixty-nine percent of adults in the U.S. use Facebook. Chances are that your audience is on this platform. By running location-based ads, you can increase your brand awareness in your area and get highly targeted views on your ads.

Featured Resource: Facebook Ads Checklist

6. Optimize your website for organic search.

Search engine optimization takes a while to work, especially in competitive industries, but if you’re going to have a website, it should be optimized for search. Make sure that each page has a purpose, is crawlable by Google, and contains keywords you’d like to be found for.

7. Start blogging. 

Since Google ranks pages, not websites, one way to get more search engine visibility is by blogging. Choose topics that your target audience wants to read, and be sure to also promote each post on social media.

Featured Resource: Blog Post Templates

Once you’ve leveraged business and marketing strategies to your advantage, you’ll begin to see the fruits of your efforts in the form of leads, sales, and revenue.

Common Professional Pitfalls (and How to Avoid Them

1. losing momentum..

You’ve put in the work. Early mornings and late nights following up on leads, arranging showings, and putting out purchase fires have yielded the desired result: consistent sales.

The problem? For many agents just starting their careers, it’s easy to get caught up in this initial rush of success and start relying on their laurels instead of pushing forward. While this may work for a few months or even a year, the loss of momentum can be devastating over time.

To keep sales flowing, it’s critical to keep your foot on the gas and keep looking for new leads.

2. Making social media mistakes.

Connecting with prospective clients means using social media. But the scale and scope of this platform mean that any faux pas — no matter how small — can negatively impact your reputation and your business.

To help reduce the risk of mistakes, follow these three rules.

First, be clear and concise. Don’t use 50 words when 10 will do. This limits the chance of a social media gaffe.

Next, only speak about what you know . This means that if you have a property that’s potentially coming up for sale, don’t post about it until you know for sure. This helps engender client trust and improves your reputation online.

Last but never least? Apologize if you get it wrong. Despite your best efforts, everyone eventually makes a mistake on social media. When it happens, don’t minimize it or pretend it never happened. Instead, own it, apologize, and move on.

3. Trying to do it all alone.

When you start your business, chances are you can handle the workload on your own. As you start to see success, however, you’ll want to scale — and this means bringing in help.

At first, this could be someone to help with sales and purchase documentation or to provide assistance finding and calling leads. Eventually, it may lead to hiring another real estate agent along with a larger complement of office staff.

The takeaway? As success scales, so does complexity: Get ahead of the challenges by bringing in help sooner rather than later.

4. Prioritizing paper.

Despite digital advancements, many real estate processes remain paper-based. But this doesn’t mean your business has to follow suit.

Here, robust CRM tools are a great way to ensure you’ve got access to the data you need, when you need it. While you’ll still have to handle paper reports, you can reduce the risk of lost or duplicate data by digitizing these documents and adding them to your database.

5. Thinking short-term.

Success in real estate means thinking about what comes next — the next client, the next sale, or the next purchase.

The problem? This can lead to short-term thinking that ignores what got you success in the first place: your clients.

As a result, it’s critical to forge a relationship with clients you’ve helped in the past. Not only does this increase the chances that they’ll come back to you if they choose to sell their current home or purchase a new one, but they may also refer you to their friends and family.

Let’s Get Real

Success in real estate is not simple — or easy. With the right approach to business planning, service marketing, and lead generation, however, it’s possible to build a real estate business that helps you achieve life goals and establish a firm financial future.

Best bet? Know why you’re getting into the industry, be prepared to put in the work, and learn from your mistakes.

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As a Realtor, Having a Basic Business Plan Helps Earn the Property Investor's Trust. If You're a Beginner Real Estate Business Owner, Download Our Free Real Estate Business Plan Templates on Template.net! They Have a Sample Executive Summary, Budget Plan, Marketing Analysis, and Property Info. They're Editable in MS Word.

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Need to come up with a plan to ensure that your real estate business keeps running? Then we have just what you need! Our professionally made Real Estate Business Plan Templates are guaranteed to help you cover what needs to be done to achieve your goals. They all come in standard formats, meaning that they are easy to edit for your own convenience. You won't have to worry about size either as they all come in either A4 or US. So take this opportunity and start downloading now or join our subscription plans to gain access to all of our high-quality templates today!

How to Create a Real Estate Business Plan?

What this simple plan does is act as a guide in helping any real estate business achieve whatever goals they have set for themselves. It covers all the basics such as marketing tactics to sales strategies. Also, know that this type of plan can cover all of a real estate business's activities all the way into the foreseeable future. So whether it's 12 months or even 5 years, it will serve as a detailed guide for everyone to follow. 

1. Know Your Target Market

What you should do is conduct a market assessment that summarizes the financial, cultural, and demographic factors that affect buying and selling real estate of the area wherein you want to do business. It is important that you look into things like the current and past property values, economic influences in the market, changing in house purchases within a span of time, and much more. Once that's done, you may then outline your customer's demographics. You should look into their age, income, marital status, education, and if they have children so that you'll have a good idea as to who you should be catering to.

2. Point Out Your Competition

You'll need to know who your likely competitors are so that you can develop strategic real estate plans around them. What you can do here is to list them down and then point out details such as who their target audience is, what properties they're focused on, the amount of experience they have, and any potential weaknesses they show which you can take advantage of. Make sure to describe all of the qualities, both good and bad, of your competition into your business plan.

3. Make the Executive Summary

Now that you have shown who your competition is and who your target audience is supposed to be, you may now start making your executive summary. This is where you show exactly what your business is all about that is going to help you promote your business faster through flyers and brochures . In three to five sentences, write out what your real estate business will specifically do, what services you will offer, your area of operation, and who you're going to cater your services to.

4. Define Your Mission and Vision Statement

Your mission statement builds on the executive summary by clearly explaining the purpose of your real estate business and what goals and action plan it aims to achieve. As for the vision statement, you simply want to describe what it is that you see for your construction real estate business in the foreseeable future. 

5. Do a SWOT Analysis

You must create a section that points out all of the internal and external factors which determine whether your real estate business can gain or lose sales. Consider what strengths, opportunities, weaknesses, and threats your company have and will encounter as you go along with the business plan.

6. Create the Management Structure and Outline Your Daily Operations

You'll need to show who your team is and the management organization flowchart that determines all of the areas of responsibility for each team member. After you've done that, you can outline your daily operations and determine who will oversee those operations. Make sure to provide a detailed description of each action that must be completed by each member.

7. Layout Your Financial and Marketing Plan

Start with your financial statement and plan. Layout all of your expenses via a spreadsheet. You should show your startup and ongoing cost amounts. Then you will need to determine what other brokerages pay to stay afloat. You should consider reaching out to brokers in your network who can provide you with the information. Also, remember that your expenses will change if you choose to hire more agents. Once that's done, point out whether your business will be funded by other businesses, through a broker or yourself, or if it'll be via a loan. Lastly, you will have to point out the marketing strategies that will get your target audience to do business with you. Provide descriptions of the methods that you'll be using and who will be responsible for making sure that they're properly conducted.

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The City of Moscow Engineering Division maintains a number of record maps in both digital and printed form. Some of these maps are provided for view on the web and others can be viewed or obtained at our new location at 504 S. Washington Street.

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In addition to record maps, the Engineering Division maintains an archive of public improvement plans and drawings dating back into the 1930's. Most of these files can be reproduced in-house for sale to the public. Hard copies of all drawings are available to the public.