{"id":432,"date":"2024-04-03T12:10:50","date_gmt":"2024-04-03T12:10:50","guid":{"rendered":"http:\/\/folster.me\/?p=432"},"modified":"2024-05-06T04:45:02","modified_gmt":"2024-05-06T04:45:02","slug":"7-steps-to-writing-a-real-estate-business-plan-template","status":"publish","type":"post","link":"http:\/\/folster.me\/index.php\/2024\/04\/03\/7-steps-to-writing-a-real-estate-business-plan-template\/","title":{"rendered":"7 Steps to Writing a Real Estate Business Plan (+ Template)"},"content":{"rendered":"<p>Are you ready to take your business to the next level? I&#8217;ve got just the thing to help you\u2014<em>a foolproof real estate business plan.<\/em> But before you start thinking, &#8220;Ugh, not a boring business plan for real estate,&#8221; hear me out. I&#8217;ve got a template that&#8217;ll make the process a breeze. Plus, I&#8217;ll walk you through seven easy steps to craft a plan to put you ahead of the game and have you achieve your wildest real estate dreams in no time. Your success story starts now.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" src=\"http:\/\/folster.me\/wp-content\/uploads\/2024\/04\/Screenshot-2024-04-04-at-10.37.18\u202fPM-e1712241572413.png\" alt=\"Screenshot of Real Estate Business Plan Template\" class=\"wp-image-91387\" width=\"797\" height=\"824\" \/><\/figure>\n<\/div>\n<p><a class=\"fit-popup-campaign-67550 button\" id=\"download\" href=\"#\" rel=\"noopener\" data-campaign=\"67550\">Grab My Real Estate Business Plan Template<\/a><\/p>\n<div class=\"wp-block-group text-box is-layout-constrained\">\n<div class=\"wp-block-group__inner-container\">\n<h3 class=\"wp-block-heading\" id=\"h-key-takeaways\"><strong>Key Takeaways:<\/strong><\/h3>\n<ul>\n<li>A well-crafted business plan is your roadmap to success. It guides your decisions and keeps you focused on your goals.<\/li>\n<li>Create a solid plan by defining your mission, vision, and values, analyzing your market and ideal client, conducting a SWOT analysis, setting SMART goals, and creating a financial plan.<\/li>\n<li>Regularly track your progress, review your key performance indicators (KPIs), stay flexible, and seek accountability to ensure long-term success.<\/li>\n<li>Remember, your Realtor business plan should evolve with your business. Embrace change and stay focused on your goals to make your real estate dreams a reality.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2 class=\"wp-block-heading\" id=\"Do-Agents-Really-Need-a-Business-Plan\">Do Agents Really Need a Real Estate Business Plan?<\/h2>\n<p>Absolutely. Your real estate agent business plan is your roadmap to success. Without it, you risk losing direction and focus in your real estate career.<\/p>\n<p>A well-crafted business plan helps you:<\/p>\n<ul>\n<li>Understand your current position in the market<\/li>\n<li>Set clear and achievable goals<\/li>\n<li>Create a roadmap for success<\/li>\n<li>Track your progress and performance<\/li>\n<li>Make informed decisions and adjustments<\/li>\n<\/ul>\n<p>Think of your real estate business planning as your GPS, guiding you from your current situation to your desired destination. It serves as your North Star, keeping you focused and on track, even in challenging times. Invest the time to create a solid business plan, and you&#8217;ll be well-positioned to succeed in your market and achieve your goals. Your future self will appreciate the effort you put in now.<\/p>\n<h2 class=\"wp-block-heading\" id=\"Easy-Steps\">Write a Real Estate Business Plan in 7 Easy Steps<\/h2>\n<p>Before we dive into this section, get our real estate business plan template (<a href=\"#download\">click here to go back up to grab it<\/a>) and work through it as I explain each section. I\u2019ll give you some direction on each element to help you craft your own business plan.<\/p>\n<h3 class=\"wp-block-heading\" id=\"Identify-Who-You-Are\">1. Identify Who You Are as a Real Estate Agent<\/h3>\n<p>Let&#8217;s start with your &#8220;why.&#8221; Understanding your purpose for choosing real estate is crucial because it is the foundation for your business plan and guides your decision-making process. Defining your <a href=\"https:\/\/theclose.com\/create-your-brokerage-mission\/\">mission, vision, and values<\/a> will help you stay focused and motivated as you navigate your real estate career.<\/p>\n<p><strong>Mission: <\/strong>Your mission statement defines your purpose for choosing real estate. It clearly states what you&#8217;re trying to do, the problem you want to solve, and the difference you want to make.<\/p>\n<p class=\"text-box\">Ex: <em>Wanda Sellfast&#8217;s mission is to empower first-time homebuyers in Sunnyvale, California, to achieve their dream of homeownership and build long-term wealth through real estate.<\/em><\/p>\n<p><strong>Vision:<\/strong> Your vision statement focuses on the ultimate outcome you want to achieve for your clients and community.<\/p>\n<p class=\"text-box\">Ex: <em>Wanda Sellfast&#8217;s vision is a Sunnyvale, where everyone has the opportunity to own a home and build a stable, secure future, creating a more inclusive and prosperous community for all.<\/em><\/p>\n<p><strong>Values:<\/strong> Your core values are the guiding principles that shape your behavior, decisions, and interactions with clients and colleagues.<\/p>\n<div class=\"wp-block-group text-box is-layout-constrained\">\n<div class=\"wp-block-group__inner-container\">\n<p>Ex: <em>Wanda Sellfast&#8217;s core values include:<\/em><\/p>\n<ul>\n<li><em>Integrity: Being honest, transparent, and ethical in all dealings.<\/em><\/li>\n<li><em>Dedication: Being devoted to clients&#8217; success and going the extra mile.<\/em><\/li>\n<li><em>Community: Building strong, vibrant communities and giving back.<\/em><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p>Clearly defining your mission, vision, and values lays the foundation for a <a href=\"https:\/\/theclose.com\/how-to-start-a-real-estate-business\/\">strong and purposeful real estate business<\/a> that will help you positively impact your clients&#8217; lives and your community.<\/p>\n<h3 class=\"wp-block-heading\" id=\"Analyze-Your-Real-Estate-Market\">2. Analyze Your Real Estate Market<\/h3>\n<p>As a real estate pro, you must deeply understand your local market. This knowledge includes knowing key metrics such as average days on market, average price points, common home styles and sizes, and demographic trends. When someone asks about the market, you should be able to confidently roll those numbers off your tongue without hesitation.<\/p>\n<p>To quickly become the local expert, choosing <a href=\"https:\/\/theclose.com\/real-estate-farming\/\">specific farm areas<\/a> to focus on is crucial. Concentrate your marketing efforts and build your local knowledge in a handful of communities and neighborhoods.<\/p>\n<p>Some places to do research include:<\/p>\n<ul>\n<li><strong>Your local MLS:<\/strong> Check your hot sheet daily<\/li>\n<li><strong>Zillow:<\/strong> Check out the Premier Agents who show up in your neighborhood<\/li>\n<li><strong>Social media:<\/strong> Who is targeting their posts to your area?<\/li>\n<li><strong>Direct mail:<\/strong> Check your mailbox for flyers and postcards<\/li>\n<li><strong>Drive by:<\/strong> Drive through your farm areas to see who has signs in yards<\/li>\n<\/ul>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" width=\"1200\" height=\"760\" src=\"http:\/\/folster.me\/wp-content\/uploads\/2024\/04\/Neighborhood-Expert-1200x760-1.png\" alt=\"Row of small houses in different colors.\" class=\"wp-image-91175\" \/><\/figure>\n<\/div>\n<p>Once you&#8217;ve identified your target areas, start conducting <a href=\"https:\/\/theclose.com\/how-to-do-a-comparative-market-analysis\/\">comparative market analyses (CMAs)<\/a> to familiarize yourself with the properties and trends in those neighborhoods. That way, you\u2019ll provide accurate insights to your clients and make informed decisions in your business.<\/p>\n<p>Remember to research your competition. Understand what other agents working in the same area are doing, who they&#8217;re targeting, and identify any gaps in their services. This understanding will help you differentiate yourself from your competition and better serve your clients&#8217; needs. In our real estate business planning template, I ask you to examine and record:<\/p>\n<ul>\n<li><strong>Trends:<\/strong> Track key metrics, such as days on market and average sold prices, to stay informed about your specific market.<\/li>\n<li><strong>Market opportunities:<\/strong> Identify situations where there are more buyers and sellers (or vice versa) in the marketplace so you can better advise your clients and find opportunities for them and your business.<\/li>\n<li><strong>Market saturation:<\/strong> Recognize areas where there may be an oversupply of certain property types or price points, allowing you to adjust your strategy accordingly.<\/li>\n<li><strong>Local competition:<\/strong> Analyze your competitors&#8217; strengths, weaknesses, and gaps in their services to identify opportunities for differentiation and possibilities to create a more meaningful impact.<\/li>\n<\/ul>\n<p>Remember, real estate is hyper-local. While national and state news can provide some context, your primary focus should be on specific needs and trends within your target areas and the clients you want to serve. By thoroughly analyzing your local real estate market, you&#8217;ll be well-equipped to make informed decisions, provide valuable insights to your clients, and ultimately build a successful and thriving business.<\/p>\n<h3 class=\"wp-block-heading\" id=\"Identify-Your-Ideal-Client\">3. Identify Your Ideal Client<\/h3>\n<p>When creating your real estate business plan, it&#8217;s crucial to identify your ideal client. You can&#8217;t be everything to everyone, no matter how much you think you should. And trust me, you certainly don\u2019t want to work with every single person who needs real estate advice. By focusing on your ideal client, you\u2019ll create a targeted marketing message that effectively attracts the right people to your business\u2014those you <em>want <\/em>to work with.&nbsp;<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" width=\"1200\" height=\"760\" src=\"http:\/\/folster.me\/wp-content\/uploads\/2024\/04\/Ideal-Client-1200x760-1.png\" alt=\"Two young women looking at a laptop together in a coffee shop.\" class=\"wp-image-91177\" \/><\/figure>\n<\/div>\n<p>Think of your target market as a broad group of people who might be interested in your services, while your ideal client is a specific person you are best suited to work with within that group. To create a detailed profile of your ideal client, ask yourself questions like:<\/p>\n<ul>\n<li>What age range do they fall into?<\/li>\n<li>What&#8217;s their family situation?<\/li>\n<li>What&#8217;s their income level and profession?<\/li>\n<li>What are their hobbies and interests?<\/li>\n<li>What motivates them to buy or sell a home?<\/li>\n<li>What are their biggest fears or concerns about the real estate process?<\/li>\n<\/ul>\n<p>Answering these questions will help you create a clear picture of your ideal client, making it easier to tailor your marketing messages and services to meet their needs. Consider using <a href=\"https:\/\/theclose.com\/wp-content\/uploads\/2022\/10\/Ideal-Client-Avatar-Worksheet.pdf\">this ideal client worksheet<\/a>, which guides you through the process of creating a detailed client avatar. This will ensure you don&#8217;t miss any important aspects of their profile, and you can refer back to it as you <a href=\"https:\/\/theclose.com\/real-estate-marketing-plan-template\/\">develop your marketing plan<\/a>.<\/p>\n<p>By incorporating your ideal client into your overall business plan, you&#8217;ll be better equipped to make informed decisions about your marketing efforts, service offerings, and growth strategies. This clarity will help you build stronger relationships with your clients, stand out from the competition, and ultimately achieve your real estate business goals.<\/p>\n<h3 class=\"wp-block-heading\" id=\"Conduct-a-SWOT-Analysis\">4. Conduct a SWOT Analysis<\/h3>\n<p>If you want to crush it in this business, you&#8217;ve got to think like an entrepreneur. One of the best tools in your arsenal is a SWOT analysis. It sounds ominous, but don&#8217;t worry, it&#8217;s actually pretty simple. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. It&#8217;s all about taking a good, hard look at yourself and your business.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" width=\"1024\" height=\"768\" src=\"http:\/\/folster.me\/wp-content\/uploads\/2024\/04\/Colorful-Modern-SWOT-Analysis-Graph-1.png\" alt=\"Infographic of a SWOT analysis with strengths, weaknesses, opportunities, and threats.\" class=\"wp-image-89284\" \/><\/figure>\n<\/div>\n<table id=\"tablepress-1630\" class=\"tablepress tablepress-id-1630\">\n<tbody class=\"row-hover\">\n<tr class=\"row-1 odd\">\n<td class=\"column-1\"><strong>Strengths<\/strong><\/td>\n<td class=\"column-2\"><strong>Opportunities<\/strong><\/td>\n<\/tr>\n<tr class=\"row-2 even\">\n<td class=\"column-1\">What do you slay at? Maybe you&#8217;re a master negotiator or have a knack for finding hidden gem properties. Whatever it is, own it and make it the backbone of your strategy.<\/td>\n<td class=\"column-2\">What&#8217;s happening in your market that you can use to your advantage? Is there an untapped niche or a new technology that could help you streamline your business? <\/td>\n<\/tr>\n<tr class=\"row-3 odd\">\n<td class=\"column-1\"><strong>Weaknesses<\/strong><\/td>\n<td class=\"column-2\"><strong>Threats<\/strong><\/td>\n<\/tr>\n<tr class=\"row-4 even\">\n<td class=\"column-1\">We all have weaknesses, so don&#8217;t be afraid to admit yours. You may not be the best at staying organized or struggle with marketing. The key is to be honest with yourself and either work on improving those areas or hire someone to help you.<\/td>\n<td class=\"column-2\">There&#8217;s competition out there, but don&#8217;t let that keep you up at night. Instead of obsessing over what other agents are doing, focus on your game plan and stick to it. Identifying threats means recognizing things outside your control that could hinder your success, like the slowing real estate market or limited inventory.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><!-- #tablepress-1630 from cache --><\/p>\n<p>By conducting a SWOT analysis as part of your real estate business plan, you&#8217;ll have a clear picture of your current situation and your future goals. And don&#8217;t just do it once and forget about it\u2014review and update it regularly to stay on top of your game.<\/p>\n<h3 class=\"wp-block-heading\" id=\"Establish-Your-SMART-Goals\">5. Establish Your SMART Goals<\/h3>\n<p>If you want to make it big in real estate, <a href=\"https:\/\/theclose.com\/real-estate-agent-goals\/\">setting goals is an absolute must<\/a>. But not just any goals\u2014<em>I&#8217;m talking about SMART goals<\/em>. SMART stands for <em>Specific<\/em>, <em>Measurable<\/em>, <em>Achievable, Relevant<\/em>, and <em>Time-bound<\/em>. It&#8217;s like a recipe for success, ensuring your goals are clear, realistic, and have a deadline.<\/p>\n<p>Your SMART goals are an integral part of your overall business plan for real estate. They should be stepping stones to help you achieve your long-term vision and mission. So, analyze your SWOT analysis, ideal client, and market, and craft goals that will help you dominate your niche.<\/p>\n<p class=\"has-text-align-center callout-box-shadowed\"><strong>Example Smart Goal:<\/strong> Close 10 transactions in the next quarter.<\/p>\n<h4 class=\"wp-block-heading\">Specific<\/h4>\n<p>Make sure to provide as many details as possible behind your goals. Don&#8217;t just say, &#8220;I want to sell more houses.&#8221; That\u2019s too vague. In the example above, the goal is specific: \u201cclose 10 transactions.\u201d<\/p>\n<h4 class=\"wp-block-heading\">Measure<\/h4>\n<p>If you can&#8217;t measure your progress, how will you know if you&#8217;re crushing it or falling behind? Ensure your goals have numbers attached to track your success or see where you need to focus more energy. \u201cClose 10 transactions\u201d has a specific number, so you have a way to measure your progress.<\/p>\n<h4 class=\"wp-block-heading\">Achievable<\/h4>\n<p>I know you&#8217;ve got <a href=\"https:\/\/theclose.com\/how-to-grow-a-real-estate-business\/\">big dreams for your real estate business<\/a>, but Rome wasn\u2019t built in a day. Set goals that stretch you beyond your comfort zone but are still achievable. This way, you&#8217;ll gain confidence, build momentum, and push yourself to new heights. Closing 10 transactions in a quarter is a lofty goal, but it&#8217;s still achievable. Your goals should stretch you but still be within your reach.<\/p>\n<h4 class=\"wp-block-heading\">Relevant<\/h4>\n<p>Relevant goals are the ones that actually move the needle for your business. Sure, becoming the next TikTok sensation might be a lot of fun, but unless TikTok generates most of your clients, it won&#8217;t help you close more deals. Your goals should be laser-focused on the activities and milestones that will help you grow your real estate career. In the example above, the goal is specifically related to real estate.&nbsp;<\/p>\n<h4 class=\"wp-block-heading\">Time-bound<\/h4>\n<p>Deadlines are your friend. Without a timeline, your goals are just wishes. Give yourself a precise end date and work backward to create a plan of action. In the example, the deadline for achieving the goal is the end of the current quarter. If you don\u2019t achieve the goal, you can evaluate where the shortfall was and reset for the next quarter.<\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n<div id=\"quote-block_d9121df7463668151767e05c627a6cd9\" class=\"quote quote-small px-0 m-0 quote\">\n<div class=\"freight\">\n<p>\u201cSetting goals is the first step in turning the invisible into the visible.\u201d<\/p>\n<\/p><\/div>\n<div class=\"d-flex align-items-center mb-32 roboto roboto-20\">\n<div class=\"rounded-circle overflow-hidden w-40 h-40 me-24 flex-shrink-0\"><img width=\"150\" height=\"150\" src=\"http:\/\/folster.me\/wp-content\/uploads\/2024\/04\/960x0-e1712054319278-150x150-1.webp\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Tony Robbins headshot\" loading=\"lazy\" \/><\/div>\n<p class=\"m-0 author-meta\">\n          Tony Robbins        <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n<p>Remember, just like your SWOT analysis, your goals aren&#8217;t set in stone. Review and adjust them regularly to stay on track and adapt to business and market changes.<\/p>\n<h3 class=\"wp-block-heading\" id=\"Create-Your-Financial-Plan\">6. Create Your Financial Plan<\/h3>\n<p>Financial planning might not be your idea of a good time, but this is where your real estate business plan really comes together. Thanks to all the research and strategizing you&#8217;ve done, most of the heavy lifting is already done. Now, it&#8217;s just a matter of plugging in the numbers and ensuring everything adds up.<\/p>\n<p>In this real estate business plan template section, you&#8217;ll want to account for all your operating expenses. That means everything from <a href=\"https:\/\/theclose.com\/real-estate-marketing-plan-template\/\">your marketing budget<\/a> to your lead generation costs. Don&#8217;t forget about the little things (like printer ink, file folders, thank you cards, etc.)\u2014they might seem small, but they can add up quickly. Some typical expenses to consider include:<\/p>\n<ul>\n<li><a href=\"https:\/\/theclose.com\/real-estate-marketing-plan-template\/\">Marketing and advertising<\/a> (business cards, <a href=\"https:\/\/theclose.com\/best-real-estate-website-builders\/\">website<\/a>, <a href=\"https:\/\/theclose.com\/real-estate-facebook-ads\/\">social media ads<\/a>)<\/li>\n<li>Lead generation (<a href=\"https:\/\/theclose.com\/buy-real-estate-leads\/\">online leads<\/a>, referral fees, <a href=\"https:\/\/theclose.com\/experiential-marketing-real-estate\/\">networking events<\/a>)<\/li>\n<li>Office supplies and equipment (computer, printer, <a href=\"https:\/\/theclose.com\/real-estate-software\/\">software subscriptions<\/a>)<\/li>\n<li>Transportation (gas, car maintenance, parking)<\/li>\n<li>Professional development (training, courses, <a href=\"https:\/\/theclose.com\/real-estate-conferences\/\">conferences<\/a>)<\/li>\n<li>Dues and memberships (MLS fees, association dues)<\/li>\n<li>Insurance (errors and omissions, general liability)<\/li>\n<li>Taxes and licenses (business licenses, self-employment taxes)<\/li>\n<\/ul>\n<p>Once you&#8217;ve figured out your expenses, it&#8217;s time to reverse-engineer the numbers and determine how many deals you need to close each month to cover your costs. If you&#8217;re just starting out and don&#8217;t have a track record to go off of, no worries! This planning period allows you to set a budget and create a roadmap for success.<\/p>\n<div class=\"tc-callout-box\">\n<div class=\"tc-callout-box-sidebar\"><span class=\"image\"><img src=\"https:\/\/theclose.com\/wp-content\/uploads\/2024\/02\/dyk.png\" \/><\/span>\n<\/div>\n<div class=\"tc-callout-box-inner\">\n<p><strong>Pro tip:<\/strong> Keep your personal and business finances separate. Never dip into your personal cash for business expenses. Not only will it make tax time a nightmare, but it&#8217;s way too easy to blow your budget without even realizing it.<\/p>\n<\/div>\n<\/div>\n<p>If you&#8217;re evaluating your starting assets and realizing they don&#8217;t quite match your startup costs, don&#8217;t panic. This new insight is just a sign that you must return to the drawing board and tweak your strategy until the numbers line up. It might take some trial and error, but getting your financial plan right from the start is worth it.<\/p>\n<h3 class=\"wp-block-heading\" id=\"Track-Your-Progress-and-Adjust-as-Needed\">7. Track Your Progress &amp; Adjust as Needed<\/h3>\n<p>You&#8217;ve worked hard and created a killer real estate business plan, and you&#8217;re ready to take on the world. But remember, your business plan isn&#8217;t a one-and-done deal. It&#8217;s a living, breathing document that needs to evolve as your business grows and changes. That&#8217;s why it&#8217;s so important to track your progress and make adjustments along the way.&nbsp;<\/p>\n<p>Here are a few key things to keep in mind:<\/p>\n<ul>\n<li><strong>Set regular check-ins:<\/strong> Schedule dedicated time to review your progress and see how you&#8217;re doing against your goals, whether weekly, monthly, or quarterly.<\/li>\n<li><strong>Keep an eye on your KPIs:<\/strong> Your key performance indicators (KPIs) are the metrics that matter most to your business. Things like lead generation, conversion rates, and average sales price can give you a clear picture of your performance.<\/li>\n<li><strong>Celebrate your wins:<\/strong> When you hit a milestone or crush a goal, take a moment to celebrate. Acknowledging your successes will keep you motivated and energized.<\/li>\n<li><strong>Don&#8217;t be afraid to pivot:<\/strong> If something isn&#8217;t working, change course. Your real estate business plan should be flexible enough to accommodate new opportunities and shifting market conditions.<\/li>\n<li><strong>Stay accountable:<\/strong> Find an accountability partner, join a mastermind group, or work with a coach to help you stay on track and overcome obstacles.<\/li>\n<\/ul>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n<div id=\"quote-block_1c1f10f4cde342261c562bf2ddfc7c13\" class=\"quote quote-small px-0 m-0 quote\">\n<div class=\"freight\">\n<p>\u201cIt\u2019s the small wins on the long journey that we need in order to keep our confidence, joy, and motivation alive.\u201d<\/p>\n<\/p><\/div>\n<div class=\"d-flex align-items-center mb-32 roboto roboto-20\">\n<div class=\"rounded-circle overflow-hidden w-40 h-40 me-24 flex-shrink-0\"><img width=\"150\" height=\"150\" src=\"http:\/\/folster.me\/wp-content\/uploads\/2024\/04\/Brendon-Burchard-150x150-1.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Brendon Burchard headshot\" loading=\"lazy\" \/><\/div>\n<p class=\"m-0 author-meta\">\n          Brendon Burchard        <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n<p>Remember, your real estate business plan is your roadmap to success. But even the best-laid plans need to be adjusted from time to time. By tracking your progress, staying flexible, and keeping your eye on the prize, you&#8217;ll be well on your way to building the real estate business of your dreams.<\/p>\n<h2 class=\"wp-block-heading\" id=\"FAQs\">FAQs<\/h2>\n<div class=\"d-flex justify-content-between align-items-center cursor-pointer pe-24 close-accordion-heading collapsed\">\n<h3 id=\"how-do-i-start-a-real-estate-business-plan\" class=\"my-40\">How do I start a real estate business plan?<br \/>\n\t\t\t\t<\/h3>\n<p><img alt=\"expand\/collapse\" class=\"ms-24 w-16 flex-shrink-0 rotate-180\" src=\"https:\/\/theclose.com\/wp-content\/themes\/theclose\/assets\/images\/icons\/chevron-down.svg\" \/><\/div>\n<div id=\"how-do-i-start-a-real-estate-business-plan-content\" class=\"close-accordion-content collapsed mb-40\">\n<p>Use this step-by-step guide and the downloadable real estate business plan template to map your business goals, finances, and mission. Identify your ideal client so you can target your marketing strategy. Once you\u2019ve completed all the business plan elements, put them into action and watch your real estate business grow.<\/p>\n<\/div>\n<hr class=\"my-0\" \/>\n<div class=\"d-flex justify-content-between align-items-center cursor-pointer pe-24 close-accordion-heading collapsed\">\n<h3 id=\"is-starting-a-real-estate-business-profitable\" class=\"my-40\">Is starting a real estate business profitable?<br \/>\n\t\t\t\t<\/h3>\n<p><img alt=\"expand\/collapse\" class=\"ms-24 w-16 flex-shrink-0 rotate-180\" src=\"https:\/\/theclose.com\/wp-content\/themes\/theclose\/assets\/images\/icons\/chevron-down.svg\" \/><\/div>\n<div id=\"is-starting-a-real-estate-business-profitable-content\" class=\"close-accordion-content collapsed mb-40\">\n<p>In the most simple terms, absolutely yes! Real estate can be an extremely profitable business if it\u2019s run properly. But you need to have a roadmap to follow to keep track of your spending vs income. It\u2019s easy to lose track of expenses and overextend yourself when you don\u2019t have a set plan.<\/p>\n<\/div>\n<hr class=\"my-0\" \/>\n<div class=\"d-flex justify-content-between align-items-center cursor-pointer pe-24 close-accordion-heading collapsed\">\n<h3 id=\"how-do-i-jump-start-my-real-estate-business\" class=\"my-40\">How do I jump-start my real estate business?<br \/>\n\t\t\t\t<\/h3>\n<p><img alt=\"expand\/collapse\" class=\"ms-24 w-16 flex-shrink-0 rotate-180\" src=\"https:\/\/theclose.com\/wp-content\/themes\/theclose\/assets\/images\/icons\/chevron-down.svg\" \/><\/div>\n<div id=\"how-do-i-jump-start-my-real-estate-business-content\" class=\"close-accordion-content collapsed mb-40\">\n<p>One of the easiest ways to jump-start any business is to set clear goals for yourself. Use this guide and the downloadable template to ensure you have clear, concise, trackable goals to keep you on track.<\/p>\n<\/div>\n<hr class=\"my-0\" \/>\n<div class=\"d-flex justify-content-between align-items-center cursor-pointer pe-24 close-accordion-heading collapsed\">\n<h3 id=\"how-do-i-organize-my-real-estate-business\" class=\"my-40\">How do I organize my real estate business?<br \/>\n\t\t\t\t<\/h3>\n<p><img alt=\"expand\/collapse\" class=\"ms-24 w-16 flex-shrink-0 rotate-180\" src=\"https:\/\/theclose.com\/wp-content\/themes\/theclose\/assets\/images\/icons\/chevron-down.svg\" \/><\/div>\n<div id=\"how-do-i-organize-my-real-estate-business-content\" class=\"close-accordion-content collapsed mb-40\">\n<p>Start by setting some SMART goals to give yourself a concrete idea of what you see as success. Then, make sure you\u2019re using the right tools\u2014customer relationship manager (CRM), website, digital document signing, digital forms, etc., and make sure you have them easily accessible. Try keeping most of your business running from inside your CRM. It\u2019s much easier to keep everything organized if everything is in one place.<\/p>\n<\/div>\n<hr class=\"my-0\" \/>\n<h2 class=\"wp-block-heading\" id=\"Bringing-It-All-Together\">Bringing It All Together<\/h2>\n<p>Now, you have a step-by-step guide to creating a real estate business plan that will take your career to the next level. Taking the extra time to map your path to success is an essential step in helping you achieve your goals. Spend the extra time\u2014it\u2019s worth it. Now, it&#8217;s time to do the work and make it happen. You&#8217;ve got this!<\/p>\n<p>Have you created your real estate business plan? Did I miss any crucial steps? Let me know in the comments!<\/p>\n<p>The post <a href=\"https:\/\/theclose.com\/real-estate-business-plan\/\">7 Steps to Writing a Real Estate Business Plan (+ Template)<\/a> appeared first on <a href=\"https:\/\/theclose.com\">The Close<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Are you ready to take your business to the next level? I&#8217;ve got just the thing to help you\u2014a foolproof real estate business plan. But before you start thinking, &#8220;Ugh, not a boring business plan for real estate,&#8221; hear me out. I&#8217;ve got a template that&#8217;ll make the process a breeze. Plus, I&#8217;ll walk you [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":434,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[13],"tags":[],"_links":{"self":[{"href":"http:\/\/folster.me\/index.php\/wp-json\/wp\/v2\/posts\/432"}],"collection":[{"href":"http:\/\/folster.me\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/folster.me\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/folster.me\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/folster.me\/index.php\/wp-json\/wp\/v2\/comments?post=432"}],"version-history":[{"count":2,"href":"http:\/\/folster.me\/index.php\/wp-json\/wp\/v2\/posts\/432\/revisions"}],"predecessor-version":[{"id":463,"href":"http:\/\/folster.me\/index.php\/wp-json\/wp\/v2\/posts\/432\/revisions\/463"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/folster.me\/index.php\/wp-json\/wp\/v2\/media\/434"}],"wp:attachment":[{"href":"http:\/\/folster.me\/index.php\/wp-json\/wp\/v2\/media?parent=432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/folster.me\/index.php\/wp-json\/wp\/v2\/categories?post=432"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/folster.me\/index.php\/wp-json\/wp\/v2\/tags?post=432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}