creating a business plan for real estate agent

• REALTOR® Store
• Real Estate Topics Open submenu Your resource for all things Real Estate. Including Legal, Agent & Broker, and Property Rights Issues.
• Membership Open submenu Whether you’re a new agent or an experienced broker you have access to a wide array of resources designed to help you succeed in today's market.
• Research & Statistics Open submenu Including home buying and selling, commercial, international, NAR member information, and technology. Use the data to improve your business through knowledge of the latest trends and statistics.
• Advocacy Open submenu NAR is widely considered one of the most effective advocacy organizations in the country.
• Education Open submenu NAR and its affiliated Institutes, Societies, and Councils offer a wide selection of real estate training options.
• News & Events Open submenu Stay current on industry issues with daily news from NAR. Network with other professionals, attend a seminar, and keep up with industry trends through events hosted by NAR.
• About NAR Open submenu America's largest trade association, representing 1.5 million+ members, including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries.
• More Open submenu
• The Facts for REALTORS® Resources and updates on NAR’s settlement agreement related to broker commissions.
• Marketing Social Media Sales Tips & Techniques MLS & Online Listings View More
• Being a Real Estate Professional Starting Your Career Being a Broker Being an Agent View More
• Residential Real Estate Condominiums Smart Growth Vacation, Resort, & 2nd Homes FHA Programs View More Home Inspections
• Legal Arbitration & Dispute Resolution Fair Housing Copyright View More
• Commercial Real Estate Commercial research and other tools for practitioners to succeed in commercial real estate.
• Right Tools, Right Now
• All Membership Benefits
• NAR REALTOR Benefits® Bringing you savings and unique offers on products and services just for REALTORS®.
• Directories Complete listing of state and local associations, MLSs, members, and more.
• Dues Information & Payment
• Become a Member As a member, you are the voice for NAR – it is your association and it exists to help you succeed.
• Logos and Trademark Rules Only members of NAR can call themselves a REALTOR®. Learn how to properly use the logo and terms.
• Your Membership Account Review your membership preferences and Code of Ethics training status.
• Highlights & News Get the latest top line research, news, and popular reports.
• Housing Statistics National, regional, and metro-market level housing statistics where data is available.
• Research Reports Research on a wide range of topics of interest to real estate practitioners.
• Presentation Slides Access recent presentations from NAR economists and researchers.
• State & Metro Area Data Affordability, economic, and buyer & seller profile data for areas in which you live and work.
• Commercial Research Analysis of commercial market sectors and commercial-focused issues and trends.
• Statistical News Release Schedule
• Advocacy Issues & News
• Federal Advocacy From its building located steps away from the U.S. Capitol, NAR advocates for you.
• REALTORS® Political Action Committee (RPAC) Promoting the election of pro-REALTOR® candidates across the United States.
• State & Local Advocacy Resources to foster and harness the grassroots strength of the REALTOR® Party.
• REALTOR® Party A powerful alliance working to protect and promote homeownership and property investment.
• Get Involved Now more than ever, it is critical for REALTORS® across America to come together and speak with one voice.
• All Education & Professional Development
• All NAR & Affiliate Courses Continuing education and specialty knowledge can help boost your salary and client base.
• Code of Ethics Training Fulfill your COE training requirement with free courses for new and existing members.
• Continuing Education (CE) Meet the continuing education (CE) requirement in state(s) where you hold a license.
• Designations & Certifications Acknowledging experience and expertise in various real estate specialties, awarded by NAR and its affiliates.
• Library & Archives Offering research services and thousands of print and digital resources.
• Commitment to Excellence (C2EX) Empowers REALTORS® to evaluate, enhance and showcase their highest levels of professionalism.
• NAR Academy at Columbia College Academic opportunities for certificates, associates, bachelor’s, and master’s degrees.
• NAR Newsroom Official news releases from NAR.
• REALTOR® Magazine
• Blogs Commentary from NAR experts on technology, staging, placemaking, and real estate trends.
• Newsletters Stay informed on the most important real estate business news and business specialty updates.
• NAR NXT, The REALTOR® Experience
• REALTORS® Legislative Meetings
• AE Institute
• Leadership Week
• Mission, Vision, and Diversity & Inclusion
• Code of Ethics
• Leadership & Staff National, state & local leadership, staff directories, leadership opportunities, and more.
• Committee & Liaisons
• History Founded as the National Association of Real Estate Exchanges in 1908.
• Affiliated Organizations
• Strategic Plan NAR’s operating values, long-term goals, and DEI strategic plan.
• Governing Documents Code of Ethics, NAR's Constitution & Bylaws, and model bylaws for state & local associations.
• Awards & Grants Member recognition and special funding, including the REALTORS® Relief Foundation.
• NAR's Consumer Outreach
• Top Directories Find a Member Browse All Directories Find an Office Find an Association NAR Group and Team Directory Committees and Directors
• By Role Broker Association Executive New Member Student Appraiser State & Local Volunteer Leader
• By Specialty Commercial Global Senior Market Short Sales & Foreclosures Land Green
• Multimedia Infographics Videos Quizzes
• Video Series First-Time Buyer Level Up Window to the Law Next Up: Commercial New AE Webinar & Video Series
• Podcasts Drive With NAR Real Estate Today The Advocacy Scoop Center for REALTOR® Development
• Programs Fair Housing Safety Leading with Diversity Good Neighbor NAR HR Solutions

• The Facts for REALTORS® Resources and updates on NAR’s settlement agreement related to broker commissions. Close
• Social Media
• Sales Tips & Techniques
• MLS & Online Listings
• Starting Your Career
• Being a Broker
• Being an Agent
• Condominiums
• Smart Growth
• Vacation, Resort, & 2nd Homes
• FHA Programs
• Home Inspections
• Arbitration & Dispute Resolution
• Fair Housing
• Commercial Real Estate Commercial research and other tools for practitioners to succeed in commercial real estate. Close

• NAR REALTOR Benefits® Bringing you savings and unique offers on products and services just for REALTORS®. Close
• Directories Complete listing of state and local associations, MLSs, members, and more. Close
• Become a Member As a member, you are the voice for NAR – it is your association and it exists to help you succeed. Close
• Logos and Trademark Rules Only members of NAR can call themselves a REALTOR®. Learn how to properly use the logo and terms. Close
• Your Membership Account Review your membership preferences and Code of Ethics training status. Close

• Highlights & News Get the latest top line research, news, and popular reports. Close
• Housing Statistics National, regional, and metro-market level housing statistics where data is available. Close
• Research Reports Research on a wide range of topics of interest to real estate practitioners. Close
• Presentation Slides Access recent presentations from NAR economists and researchers. Close
• State & Metro Area Data Affordability, economic, and buyer & seller profile data for areas in which you live and work. Close
• Commercial Research Analysis of commercial market sectors and commercial-focused issues and trends. Close

• Federal Advocacy From its building located steps away from the U.S. Capitol, NAR advocates for you. Close
• REALTORS® Political Action Committee (RPAC) Promoting the election of pro-REALTOR® candidates across the United States. Close
• State & Local Advocacy Resources to foster and harness the grassroots strength of the REALTOR® Party. Close
• REALTOR® Party A powerful alliance working to protect and promote homeownership and property investment. Close
• Get Involved Now more than ever, it is critical for REALTORS® across America to come together and speak with one voice. Close

• All NAR & Affiliate Courses Continuing education and specialty knowledge can help boost your salary and client base. Close
• Code of Ethics Training Fulfill your COE training requirement with free courses for new and existing members. Close
• Continuing Education (CE) Meet the continuing education (CE) requirement in state(s) where you hold a license. Close
• Designations & Certifications Acknowledging experience and expertise in various real estate specialties, awarded by NAR and its affiliates. Close
• Library & Archives Offering research services and thousands of print and digital resources. Close
• Commitment to Excellence (C2EX) Empowers REALTORS® to evaluate, enhance and showcase their highest levels of professionalism. Close
• NAR Academy at Columbia College Academic opportunities for certificates, associates, bachelor’s, and master’s degrees. Close

• NAR Newsroom Official news releases from NAR. Close
• Blogs Commentary from NAR experts on technology, staging, placemaking, and real estate trends. Close
• Newsletters Stay informed on the most important real estate business news and business specialty updates. Close

• Leadership & Staff National, state & local leadership, staff directories, leadership opportunities, and more. Close
• History Founded as the National Association of Real Estate Exchanges in 1908. Close
• Strategic Plan NAR’s operating values, long-term goals, and DEI strategic plan. Close
• Governing Documents Code of Ethics, NAR's Constitution & Bylaws, and model bylaws for state & local associations. Close
• Awards & Grants Member recognition and special funding, including the REALTORS® Relief Foundation. Close

• Find a Member
• Browse All Directories
• Find an Office
• Find an Association
• NAR Group and Team Directory
• Committees and Directors
• Association Executive
• State & Local Volunteer Leader
• Senior Market
• Short Sales & Foreclosures
• Infographics
• First-Time Buyer
• Window to the Law
• Next Up: Commercial
• New AE Webinar & Video Series
• Drive With NAR
• Real Estate Today
• The Advocacy Scoop
• Center for REALTOR® Development
• Leading with Diversity
• Good Neighbor
• NAR HR Solutions

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.

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 , Jan. 16, 2024)

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

How to Write a Mission Statement pdf ( 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 , Oct. 30, 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?

Setting Business Goals & Objectives: 4 Considerations ( Harvard Business School , Oct. 31, 2023)

What are Business Goals? Definition, How To Set Business Goals and Examples ( Indeed , Jul. 31, 2023)

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 , Feb. 2, 2024)

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

Developing a Marketing Plan pdf ( 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 Build a Real Estate Team + 7 Critical Mistakes to Avoid ( The Close , May 17, 2023)

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 , Jul. 18, 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. 3, 2024)

How to Write a Real Estate Business Plan (+Free Template) ( Fit Small Business , Jun. 30, 2023)

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 , Apr. 23, 2024)

Guide to Creating a Business Plan with Template (Business News Daily, Mar. 28, 2024)

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:

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.

• Buyer Agent 101
• Listing Agent 101
• Getting Your License
• Open Houses
• Stats + Trends
• Realtor Safety
• Social Media
• Website Marketing
• Referral Marketing
• Property Marketing
• Branding + PR
• Marketing Companies
• Purchasing Leads
• Prospecting
• Paid Advertising
• Generate Listings
• Generate Buyer Leads
• Apps + Software
• Lead Gen Companies
• Website Builders
• Predictive Analytics
• Brokerage Tech
• Building a Brokerage
• Recruiting Agents
• Lead Generation
• Tech Reviews
• Write for Us

All products mentioned at The Close are in the best interest of real estate professionals. We are editorially independent and may earn commissions from partner links.

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

As a licensed real estate agent in Florida, Jodie built a successful real estate business by combining her real estate knowledge, copywriting, and digital marketing expertise. See full bio

• Do Agents Really Need a Business Plan?
• Write a Real Estate Business Plan in 7 Easy Steps
• Identify Who You Are as a Real Estate Agent
• Analyze Your Real Estate Market
• Identify Your Ideal Client
• Conduct a SWOT Analysis
• Establish Your SMART Goals
• Create Your Financial Plan
• Track Your Progress & Adjust as Needed
• Bringing It All Together

Are you ready to take your business to the next level? I’ve got just the thing to help you— a foolproof real estate business plan. But before you start thinking, “Ugh, not a boring business plan for real estate,” hear me out. I’ve got a template that’ll make the process a breeze. Plus, I’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.

Key Takeaways:

• A well-crafted business plan is your roadmap to success. It guides your decisions and keeps you focused on your goals.
• 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.
• Regularly track your progress, review your key performance indicators (KPIs), stay flexible, and seek accountability to ensure long-term success.
• 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.

Do Agents Really Need a Real Estate Business Plan?

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.

A well-crafted business plan helps you:

• Understand your current position in the market
• Set clear and achievable goals
• Create a roadmap for success
• Track your progress and performance
• Make informed decisions and adjustments

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’ll be well-positioned to succeed in your market and achieve your goals. Your future self will appreciate the effort you put in now.

Before we dive into this section, get our real estate business plan template ( click here to go back up to grab it ) and work through it as I explain each section. I’ll give you some direction on each element to help you craft your own business plan.

1. Identify Who You Are as a Real Estate Agent

Let’s start with your “why.” 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 mission, vision, and values will help you stay focused and motivated as you navigate your real estate career.

Mission: Your mission statement defines your purpose for choosing real estate. It clearly states what you’re trying to do, the problem you want to solve, and the difference you want to make.

Ex: Wanda Sellfast’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.

Vision: Your vision statement focuses on the ultimate outcome you want to achieve for your clients and community.

Ex: Wanda Sellfast’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.

Values: Your core values are the guiding principles that shape your behavior, decisions, and interactions with clients and colleagues.

Ex: Wanda Sellfast’s core values include:

• Integrity: Being honest, transparent, and ethical in all dealings.
• Dedication: Being devoted to clients’ success and going the extra mile.
• Community: Building strong, vibrant communities and giving back.

Clearly defining your mission, vision, and values lays the foundation for a strong and purposeful real estate business that will help you positively impact your clients’ lives and your community.

2. Analyze Your Real Estate Market

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.

To quickly become the local expert, choosing specific farm areas to focus on is crucial. Concentrate your marketing efforts and build your local knowledge in a handful of communities and neighborhoods.

Some places to do research include:

• Your local MLS: Check your hot sheet daily
• Zillow: Check out the Premier Agents who show up in your neighborhood
• Social media: Who is targeting their posts to your area?
• Direct mail: Check your mailbox for flyers and postcards
• Drive by: Drive through your farm areas to see who has signs in yards

Once you’ve identified your target areas, start conducting comparative market analyses (CMAs) to familiarize yourself with the properties and trends in those neighborhoods. That way, you’ll provide accurate insights to your clients and make informed decisions in your business.

Remember to research your competition. Understand what other agents working in the same area are doing, who they’re targeting, and identify any gaps in their services. This understanding will help you differentiate yourself from your competition and better serve your clients’ needs. In our real estate business planning template, I ask you to examine and record:

• Trends: Track key metrics, such as days on market and average sold prices, to stay informed about your specific market.
• Market opportunities: 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.
• Market saturation: Recognize areas where there may be an oversupply of certain property types or price points, allowing you to adjust your strategy accordingly.
• Local competition: Analyze your competitors’ strengths, weaknesses, and gaps in their services to identify opportunities for differentiation and possibilities to create a more meaningful impact.

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’ll be well-equipped to make informed decisions, provide valuable insights to your clients, and ultimately build a successful and thriving business.

3. Identify Your Ideal Client

When creating your real estate business plan, it’s crucial to identify your ideal client. You can’t be everything to everyone, no matter how much you think you should. And trust me, you certainly don’t want to work with every single person who needs real estate advice. By focusing on your ideal client, you’ll create a targeted marketing message that effectively attracts the right people to your business—those you want to work with. 

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:

• What age range do they fall into?
• What’s their family situation?
• What’s their income level and profession?
• What are their hobbies and interests?
• What motivates them to buy or sell a home?
• What are their biggest fears or concerns about the real estate process?

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 this ideal client worksheet , which guides you through the process of creating a detailed client avatar. This will ensure you don’t miss any important aspects of their profile, and you can refer back to it as you develop your marketing plan .

By incorporating your ideal client into your overall business plan, you’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.

4. Conduct a SWOT Analysis

If you want to crush it in this business, you’ve got to think like an entrepreneur. One of the best tools in your arsenal is a SWOT analysis. It sounds ominous, but don’t worry, it’s actually pretty simple. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. It’s all about taking a good, hard look at yourself and your business.

By conducting a SWOT analysis as part of your real estate business plan, you’ll have a clear picture of your current situation and your future goals. And don’t just do it once and forget about it—review and update it regularly to stay on top of your game.

5. Establish Your SMART Goals

If you want to make it big in real estate, setting goals is an absolute must . But not just any goals— I’m talking about SMART goals . SMART stands for Specific , Measurable , Achievable, Relevant , and Time-bound . It’s like a recipe for success, ensuring your goals are clear, realistic, and have a deadline.

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.

Example Smart Goal: Close 10 transactions in the next quarter.

Make sure to provide as many details as possible behind your goals. Don’t just say, “I want to sell more houses.” That’s too vague. In the example above, the goal is specific: “close 10 transactions.”

If you can’t measure your progress, how will you know if you’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. “Close 10 transactions” has a specific number, so you have a way to measure your progress.

I know you’ve got big dreams for your real estate business , but Rome wasn’t built in a day. Set goals that stretch you beyond your comfort zone but are still achievable. This way, you’ll gain confidence, build momentum, and push yourself to new heights. Closing 10 transactions in a quarter is a lofty goal, but it’s still achievable. Your goals should stretch you but still be within your reach.

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’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. 

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’t achieve the goal, you can evaluate where the shortfall was and reset for the next quarter.

“Setting goals is the first step in turning the invisible into the visible.”

Tony Robbins

Remember, just like your SWOT analysis, your goals aren’t set in stone. Review and adjust them regularly to stay on track and adapt to business and market changes.

6. Create Your Financial Plan

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’ve done, most of the heavy lifting is already done. Now, it’s just a matter of plugging in the numbers and ensuring everything adds up.

In this real estate business plan template section, you’ll want to account for all your operating expenses. That means everything from your marketing budget to your lead generation costs. Don’t forget about the little things (like printer ink, file folders, thank you cards, etc.)—they might seem small, but they can add up quickly. Some typical expenses to consider include:

• Marketing and advertising (business cards, website , social media ads )
• Lead generation ( online leads , referral fees, networking events )
• Office supplies and equipment (computer, printer, software subscriptions )
• Transportation (gas, car maintenance, parking)
• Professional development (training, courses, conferences )
• Dues and memberships (MLS fees, association dues)
• Insurance (errors and omissions, general liability)
• Taxes and licenses (business licenses, self-employment taxes)

Once you’ve figured out your expenses, it’s time to reverse-engineer the numbers and determine how many deals you need to close each month to cover your costs. If you’re just starting out and don’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.

Pro tip: 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’s way too easy to blow your budget without even realizing it.

If you’re evaluating your starting assets and realizing they don’t quite match your startup costs, don’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.

7. Track Your Progress & Adjust as Needed

You’ve worked hard and created a killer real estate business plan, and you’re ready to take on the world. But remember, your business plan isn’t a one-and-done deal. It’s a living, breathing document that needs to evolve as your business grows and changes. That’s why it’s so important to track your progress and make adjustments along the way. 

Here are a few key things to keep in mind:

• Set regular check-ins: Schedule dedicated time to review your progress and see how you’re doing against your goals, whether weekly, monthly, or quarterly.
• Keep an eye on your KPIs: 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.
• Celebrate your wins: When you hit a milestone or crush a goal, take a moment to celebrate. Acknowledging your successes will keep you motivated and energized.
• Don’t be afraid to pivot: If something isn’t working, change course. Your real estate business plan should be flexible enough to accommodate new opportunities and shifting market conditions.
• Stay accountable: Find an accountability partner, join a mastermind group, or work with a coach to help you stay on track and overcome obstacles.

“It’s the small wins on the long journey that we need in order to keep our confidence, joy, and motivation alive.”

Brendon Burchard

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’ll be well on your way to building the real estate business of your dreams.

How do I start a real estate business plan?

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’ve completed all the business plan elements, put them into action and watch your real estate business grow.

Is starting a real estate business profitable?

In the most simple terms, absolutely yes! Real estate can be an extremely profitable business if it’s run properly. But you need to have a roadmap to follow to keep track of your spending vs income. It’s easy to lose track of expenses and overextend yourself when you don’t have a set plan.

How do I jump-start my real estate business?

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.

How do I organize my real estate business?

Start by setting some SMART goals to give yourself a concrete idea of what you see as success. Then, make sure you’re using the right tools—customer 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’s much easier to keep everything organized if everything is in one place.

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—it’s worth it. Now, it’s time to do the work and make it happen. You’ve got this!

Have you created your real estate business plan? Did I miss any crucial steps? Let me know in the comments!

As a licensed real estate agent in Florida, Jodie built a successful real estate business by combining her real estate knowledge, copywriting, and digital marketing expertise.

51 Comments

Add comment cancel reply.

Your email address will not be published. Required fields are marked *

Related articles

The ce shop review: pricing, featured, pros & cons.

Check out our in-depth look at The CE Shop’s custom-built online platform, its costs, course offerings, pros and cons, and student experiences to see what The CE Shop is getting right—and wrong—to help you decide whether it’s the best real estate education provider for you.

Allied Real Estate Schools: Pricing, Features, Pros & Cons (2024)

As an aspiring real estate professional in California, you have tons of options to choose from for your prelicensing education. So does Allied Real Estate Schools' student experience live up to the hype?

The Complete Guide to 1031 Exchange Rules

It's crucial to understand 1031 exchange rules so you can better serve your real estate investor clients—so we've broken them down for you, in plain English.

Success! You've been subscribed.

Help us get to know you better.

We use essential cookies to make Venngage work. By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

Manage Cookies

Cookies and similar technologies collect certain information about how you’re using our website. Some of them are essential, and without them you wouldn’t be able to use Venngage. But others are optional, and you get to choose whether we use them or not.

Strictly Necessary Cookies

These cookies are always on, as they’re essential for making Venngage work, and making it safe. Without these cookies, services you’ve asked for can’t be provided.

Show cookie providers

• Google Login

Functionality Cookies

These cookies help us provide enhanced functionality and personalisation, and remember your settings. They may be set by us or by third party providers.

Performance Cookies

These cookies help us analyze how many people are using Venngage, where they come from and how they're using it. If you opt out of these cookies, we can’t get feedback to make Venngage better for you and all our users.

• Google Analytics

Targeting Cookies

These cookies are set by our advertising partners to track your activity and show you relevant Venngage ads on other sites as you browse the internet.

• Google Tag Manager
• Infographics
• Daily Infographics
• Popular Templates
• Accessibility
• Graphic Design
• Graphs and Charts
• Data Visualization
• Human Resources
• Beginner Guides

Blog Business 5 Real Estate Business Plan Examples & How to Create One?

5 Real Estate Business Plan Examples & How to Create One?

Written by: Danesh Ramuthi Nov 28, 2023

Crafting a business plan is essential for any business and the real estate sector is no exception. In real estate, a comprehensive business plan serves as a roadmap, delineating a clear path towards business growth. 

It guides owners, agents and brokers through various critical aspects such as identifying target markets, devising effective marketing strategies, planning finances and managing client relationships.

For real estate businesses, a well-written plan is crucial in attracting potential investors, showcasing the company’s mission statement, business model and long-term income goals.

So, how can you write one?

Leveraging tools like Venngage Business Plan Make r with their Business Plan Templates to create your own real estate business plan can be transformative.

They offer a lot of real estate business plan examples and templates, streamlining the process of crafting a comprehensive plan.

Click to jump ahead: 

• 5 real estate business plan examples

How to write a real estate business plan?

• Wrapping Up

5 Real estate business plan examples

As I have said before, a well-crafted business plan is a key to success. Whether you’re a seasoned agent or just starting out, examples of effective real estate business plans can offer invaluable insights. Along with a solid business plan, incorporating innovative real estate marketing ideas is crucial for standing out in this competitive market.

These examples showcase a range of strategies and approaches tailored to various aspects of the real estate market. They serve as guides to structuring a plan that addresses key components like market analysis, marketing strategies, financial planning and client management, ensuring a solid foundation for any real estate venture.

Real estate business plan example

There are various elements in a real estate business plan that must be integrated. Incorporating these elements into a real estate business plan ensures a comprehensive approach to launching and growing a successful real estate business. 

What are they?

• Executive summary: The executive summary is a concise overview of the real estate business plan. It highlights the mission statement, outlines the business goals and provides a snapshot of the overall strategy. 
• Company overview: An overview on the history and structure of the real estate business. It includes the company’s mission and vision statements, information about the founding team and the legal structure of the business. 
• Service: Here, the business plan details the specific services offered by the real estate agency. This could range from residential property sales and leasing to commercial real estate services. The section should clearly articulate how these services meet the needs of the target client and how they stand out from competitors.
• Strategies: A very crucial part of the plan outlines the strategies for achieving business goals. It covers marketing strategies to generate leads, pricing strategies for services, and tactics for effective client relationship management. Strategies for navigating market shifts, identifying key market trends and leveraging online resources for property listings and real estate listing presentations to help with lead generation are also included.
• Financial plan: The financial plan is a comprehensive section detailing the financial projections of the business. Exploring funding avenues is an essential aspect of building a robust business plan. For real estate professionals and investors, understanding different financing options, such as exploring SBA loan options , can be valuable. These loans provide substantial benefits like lower down payments and longer repayment terms which are crucial for scaling operations and securing resources needed for growth in the competitive real estate market. It includes income statements, cash flow statements , break-even analysis and financial goals. Besides, a financial plan section also outlines how resources will be allocated to different areas of the business and the approach to managing the financial aspects of the real estate market, such as average sales price and housing market trends.

Read Also: 7 Best Business Plan Software for 2023

Real estate investment business plan example

A real estate investment business plan is a comprehensive blueprint that outlines the goals and strategies of a real estate investment venture. It serves as a roadmap, ensuring that all facets of real estate investment are meticulously considered.

Creating a business plan for real estate investment is a critical step for any investor, regardless of their experience level Typically, these plans span one to five years, offering a detailed strategy for future company objectives and the steps required to achieve them.

Key components:

• Executive summary: Snapshot of the business, outlining its mission statement, target market, and core strategies. It should be compelling enough to attract potential investors and partners.
• Market analysis: A thorough analysis of the real estate market, including current trends, average sales prices and potential market shifts.
• Financial projections: Detailed financial plans, including income statements, cash flow analysis, and break-even analysis.
• Strategy & implementation: Outlines how the business plans to achieve its goals. This includes marketing efforts to generate leads, pricing strategies, client relationship management techniques, and the integration of effective real estate digital marketing agency initiatives.
• Legal structure & resource allocation: Details the legal structure of the business and how resources will be allocated across various operations, including property acquisitions, renovations and management.

Real estate agent business plan example

A real estate agent business plan is a strategic document that outlines the operations and goals of a real estate agent or agency. It is a crucial tool for communicating with potential lenders, partners or shareholders about the nature of the business and its potential for profitability.

A well-crafted real estate agent business plan will include

• Where you are today: A clear understanding of your current position in the market, including strengths, weaknesses and market standing.
• Where you aim to be: Sets specific, measurable goals for future growth, whether it’s expanding the client base, entering new markets or increasing sales.
• How can you get there: Outlines the strategies and action plans to achieve these goals, including marketing campaigns, client acquisition strategies and business development initiatives.
• Measuring your performance: Defines the key performance indicators (KPIs) and metrics to assess progress towards the set goals, such as sales figures, client satisfaction rates and market share.
• Course correction: Establishes a process for regular review and adjustment of the plan, ensuring flexibility to adapt to market changes, shifts in client needs and other external factors.

For real estate agents, a comprehensive business plan is not just a roadmap to success; it is a dynamic tool that keeps them accountable and adaptable to market changes.

Realtor business plan example

A realtor business plan is a comprehensive document that outlines the strategic direction and goals of a real estate business. It’s an essential tool for realtors looking to either launch or expand their business in the competitive real estate market. The plan typically includes details about the company’s mission, objectives, target market and strategies for achieving its goals.

Benefits of a realtor business plan and applications:

• For launching or expanding businesses: The plan helps real estate agents to structure their approach to entering new markets or growing in existing ones, providing a clear path to follow.
• Securing loans and investments: A well-drafted business plan is crucial for securing financing for real estate projects, such as purchasing new properties or renovating existing ones.
• Guideline for goal achievement: The plan serves as a guideline to stay on track with sales and profitability goals, allowing realtors to make informed decisions and adjust strategies as needed.
• Valuable for real estate investors: Investors can use the template to evaluate potential real estate businesses and properties for purchase, ensuring they align with their investment goals.
• Improving business performance: By filling out a realtor business plan template , realtors can gain insights into the strengths and weaknesses of their business, using this information to enhance profitability and operational efficiency.

A realtor business plan is more than just a document; it’s a roadmap for success in the real estate industry. 

Writing a real estate business plan is a comprehensive process that involves several key steps. Here’s a detailed guide to help you craft an effective business plan :

• Tell your story : Start with a self-evaluation. Define who you are as a real estate agent, why you are in this business and what you do. Develop your mission statement, vision statement and an executive summary​​.
• Analyze your target real estate market : Focus on local market trends rather than national or state-wide levels. Examine general trends, market opportunities, saturations, and local competition. This step requires thorough research into the real estate market you plan to operate in​​.
• Identify your target client : After understanding your market, identify the niche you aim to serve and the type of clients you want to target. Create a client persona that reflects their specific needs and concerns​​.
• Conduct a SWOT analysis : Analyze your business’s Strengths, Weaknesses, Opportunities and Threats. This should reflect a combination of personal attributes and external market conditions​​​​.
• Establish your SMART goals : Set specific, measurable, attainable, realistic and timely goals. These goals could be financial, expansion-related or based on other business metrics​​​​.
• Create your financial plan : Account for all operating expenses, including marketing and lead generation costs. Calculate the number of transactions needed to meet your financial goals. Remember to separate personal and business finances​​.
• Revisit your business plan to monitor & evaluate : Treat your business plan as a living document. Plan periodic reviews (quarterly, semi-annually or annually) to check if your strategies are advancing you toward your goals​​​​.
• Defining your mission & vision : Include a clear mission and vision statement. Describe your business type, location, founding principles and what sets you apart from competitors​​.
• Creating a marketing plan : Develop a marketing plan that addresses the product, price, place and promotion of your services. Determine your pricing strategy, promotional methods and marketing channels​​. If you’re unsure what marketing activities to choose, consider this guide on how to market yourself as a realtor .
• Forming a team : Ensure the cooperation of colleagues, supervisors and supervisees involved in your plan. Clarify their roles and how their participation will be evaluated​​.

Related: 15+ Business Plan Examples to Win Your Next Round of Funding

Wrapping up

The journey to a successful real estate venture is intricately linked to the quality and depth of your business plan. From understanding the nuances of the real estate market to setting strategic goals, a well-crafted business plan acts as the backbone of any thriving real estate business. Whether you’re developing a general real estate business plan, focusing on investment, working as an agent, or operating as a realtor, each plan type serves its unique purpose and addresses specific aspects of the real estate world.

The examples and insights provided in this article serve as a guide to help you navigate the complexities of the real estate industry. Remember, a real estate business plan is not a static document but a dynamic blueprint that evolves with your business and the ever-changing market trends.

Crafting a strategic real estate business plan is a crucial step towards achieving your business goals. So, start shaping your vision today with Venngage.

Explore venngage business plan maker & our business plan templates and begin your journey to a successful real estate business now!

Discover popular designs

Infographic maker

Brochure maker

White paper online

Newsletter creator

Flyer maker

Timeline maker

Letterhead maker

Mind map maker

Ebook maker

• Sample Business Plans
• Real Estate & Rentals

Real Estate Agent Business Plan

A real estate agent business is one of the best ways of getting paid for your expertise in the real estate industry.

If you have a thorough knowledge of the market, are a brilliant negotiator, and can think on your feet then being a real estate agent might be the right career for you.

Industry Overview

Research says the global real estate agent and brokerage market are expected to grow from $960.12 billion in 2020 to $1008.95 billion in 2021 at a compound annual growth rate (CAGR) of 5.1%. Also, the market is expected to reach $1351.1 billion in 2025 at a CAGR of 8%.

The above figure suggests It is a great market to be in, but you need a well-designed business plan to succeed as a real estate agent. A business plan can help you in having a clear strategy and also in keeping a track of your progress.

But what else can a business plan do for your brokerage firm, and how to write one? Read on to find out.

Say goodbye to boring templates

Build your business plan faster and easier with AI

Plans starting from $7/month

Things to Consider Before Writing a Real Estate Agent Business Plan

Find a way to get leads.

The majority of your leads, at least at the beginning of your career, would come from constant effort and a variety of sources. So before getting started you’ll have to figure out all the possible ways of generating leads.

Make a networking plan

Having a network comprising of your customers, businessmen, and even your competitors is necessary for a real estate agent. Because you never know where you’ll get your next big client.

Hence, figuring out a networking strategy is important.

Set up your website

Nowadays, a lot of people look for real estate services online. Hence, it makes it important for you to set up a website for your business.

Making a website also contributes to building your credibility and brand image. Hence, building an optimized and active website can do wonders for your business.

Be prepared for changes in the industry

The real estate agent is changing at a rapid pace. Everything from changes in the economy to people’s buying behavior, and income has a major impact on the real estate market. Hence, it is important for you to have a strategy to deal with such changes.

One of the simplest ways to do so is to have a dynamic and customizable real estate business plan. It helps you deal with changes in a smooth and effective way.

How a Business Plan Can Help You?

As a real estate agent, clear business goals and a constantly evolving way of doing business can be extremely profitable for your business. Apart from that, networking is a key aspect of a real estate agent’s business.

A professional business plan can help you manage all of the above efficiently without any hassles.

Having a plan makes managing your business easier and lets you focus on the more pressing concerns of a business.

Moreover, it gives you a competitive edge over those who jump right in, without any plan.

Real Estate Agent Business Plan Outline

This is the standard real estate agent business plan outline which will cover all important sections that you should include in your business plan.

• Products and Services
• Management Team
• Success Factors
• 3 Year profit forecast
• Startup cost
• Funding Required
• Our business offering is listed below:
• Industry Analysis
• Market Trends
• Target Market
• Sales Strategy
• Targeted Cold Calls
• Publications
• Pricing Strategy
• Management Summary
• Hiring Plan
• Important Assumptions
• Brake-even Analysis
• Profit Yearly
• Gross Margin Yearly
• Projected Cash Flow
• Projected Balance Sheet
• Business Ratios

How to Write a Real Estate Agent Business Plan?

A business plan should be clear-cut and ever-changing. It should have goals, but also be flexible at the same time.

Moreover, it should be customizable as per your target market and location. You can write such a plan in many ways.

Although there are several changing and fixed aspects of a real estate agent’s business plan, there are certain essential areas that should be included to write a good business plan.

They are as follows:

1. Executive Summary

The executive summary section sums up what your entire business idea stands for. It is a brief overview of all of your business’s functions, including finances, target audience, operations, marketing, sales, etc.

This section, if written properly, can help you get funded as it presents your idea to the investors in a precise way and helps you gain their confidence.

2. Company Summary

This section basically consists of all the information about your agency’s history, its current situation, the idea behind its existence, and also the finances and funding it requires for becoming profitable.

3. Products and Services

In this product and services section, you’ll define your niche. Having a niche in real estate helps you get a better knowledge of the market and better deals in return. It also helps you meet the right people and the right customers.

As a real estate agent, you can decide whether you’ll deal with office spaces, residential spaces, rentals or buying, selling, etc. Working with a specific set of customers most of the time helps you stay at the top of your game in the real estate market.

4. Market Analysis

A thorough and ongoing market analysis helps you know the market trends and your target audience better. It helps you stay updated with the demands of your customers and how you can fulfill them in the best way possible.

Not just that, it also helps you in knowing where you stand in the market when you need to change your business model with a changing market, and when you need to upskill to stay relevant as a real estate agent.

5. Strategy and implementation

After you are done analyzing the market, writing this section would be a cakewalk. As you are familiar with the market you can formulate the best strategy to thrive in it.

As a real estate agent, having a good advertising strategy, sales strategy, and essentially a good pricing strategy is of utmost importance.

6. Operations Plan

The operations plan section in your business plan includes the day-to-day functioning of your company, as well as your goals and strategies to achieve them.

It is an ever-changing section and has to be tweaked as per the demands of the industry. Breaking your goal down into smaller milestones in this section is an effective way of writing it.

7. Financial Plan

A financial plan decides whether your agency would succeed or not. It prevents you from having mismanaged finances, and a dearth of funds and also helps you in managing the cash inflow of your business.

Download a sample real estate agent business plan

Need help writing your business plan from scratch? Here you go; download our free real estate agent business plan pdf to start.

It’s a modern business plan template specifically designed for your real estate agent business. Use the example business plan as a guide for writing your own.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

Business Plan Summary

A business plan can not only help you with the management of your business but also work as a road map to success.

A real estate agency’s cash inflow is on the irregular side, but a business plan can help you thrive with that too. Having a plan gives you a clear idea of the functioning as well as the spending of your business.

After getting started with Upmetrics , you can copy this sample real estate agent business plan template into your business plan and modify the required information and download your real estate agent business plan pdf or doc file.

It’s the fastest and easiest way to start writing your business plan.

So, what are you waiting for? Start planning

Related Posts

Real Estate Business Plan

Real Estate Development Business Plan

What are the main purposes of a business plan

400+ Business Plan Examples

Best AI Powered Business Plan Generators

How to Choose Business Location

About the Author

Vinay Kevadiya

Vinay Kevadiya is the founder and CEO of Upmetrics, the #1 business planning software. His ultimate goal with Upmetrics is to revolutionize how entrepreneurs create, manage, and execute their business plans. He enjoys sharing his insights on business planning and other relevant topics through his articles and blog posts. Read more

Turn your business idea into a solid business plan

Explore Plan Builder

Plan your business in the shortest time possible

No Risk – Cancel at Any Time – 15 Day Money Back Guarantee

Create a great Business Plan with great price.

• 400+ Business plan templates & examples
• AI Assistance & step by step guidance
• 4.8 Star rating on Trustpilot

Streamline your business planning process with Upmetrics .

Blog Real Estate Best Practices 12 Easy Steps to Creating a Perfect Real Estate Business Plan (2024 Updated!)

12 Easy Steps to Creating a Perfect Real Estate Business Plan (2024 Updated!)

To be truly successful in the world of business, you must create a solid business plan. This is the case no matter what industry you are in, and that includes real estate.

The business plan you work out must be unique. There is no cookie cutter approach. You must keep your brand image and goals in mind when creating the plan that’s perfect for you.

However, there are a few steps you can take to ensure your plan is well executed. This article will review those steps to ensure you plan is as successful as possible.

Why Create a Real Estate Business Plan?

A real estate business plan offers several benefits including the following:

• It shows you where your business is at and outlines areas where you can make improvements.
• It allows you to set goals and track progress.
• It can be used to help secure funding. Most potential investors will want to see a copy of your business plan before moving forward.
• It can be a selling point for attracting top talent.
• It provides an outline that will help you manage day to day tasks in an organized fashion.
• It can help you track your marketing efforts.
• It can help you attract clients.
• It will keep you more organized in reaching your long-term goals.

12 Steps to Create The Best Real Estate Business Plan

1. determine your business model.

There are a few ways to go when embarking on your real estate journey. You may decide you want to start or join a real estate team. Or you may decide you want to start or join a brokerage. You’ll want to decide if you need a sole proprietorship or an LLC is in your best interest. You may establish a plan early on in your career, or you may decide to change directions and create a new plan in the middle of your career.

While these are all very different paths to take, there are common elements that will need to be focused on in the plan creation process. They will be outlined in the following sections.

2. Identify Who You Are

Determining your brand identity will help you create marketing materials that reflect your image. Are you a friendly ‘people person’? Or is your main goal finding clients the best investment for their money?

Your strategies will change slightly depending on your business model. If you own or work in a team setting , you must define the role of each team member and their part in helping you reach your goals.

If you own a brokerage, your real estate business plan will help you determine what type of agents you want working for you. If you work on your own , it will all come down to your unique vision.

When putting it down on paper, your identity will consist of:

• Your Mission Statement: Your reason for being in real estate
• Your Executive Summary: One or two sentences that summarize what you do

3. Analyze Your Target Real Estate Market

Once you determine who you are as an agent, you will have a better idea of who you are marketing to. You may be targeting business owners, investors, families, luxury clients and so on. It’s also likely you will be working within a specific area.

After identifying your target audience, you need to figure out how your target market is doing. What are home prices like? How is inventory looking? Is it a buyer’s or seller’s market? And what are future predictions?

You will be able to glean this information by looking carefully at the MLS and staying on top of trends. Online and offline real estate resources will also provide some insight.

In general, you will want to stay on top of:

• General Trends including how long homes are staying on the market on average, commission rates, sale prices, etc.
• Market Opportunities based on supply and demand
• Market Saturations based on inventory and agent services

4. Analyze Your Competition

We all know the saying, ‘keep your friends close and your enemies closer’. Stay on top of what other agents are doing by subscribing to their newsletters and following their social media pages. While you won’t want to copy their strategies outright, they may just inspire you to create a marketing plan that gives you a competitive edge.

You should also look out for underserved niches and competitive saturation.

When it comes to underserved niches, there may be plenty of agents in your area specializing in family residential properties. But how many are serving the commercial sector? Or the luxury sector?

If the city sections in your area are blowing up, consider looking into properties in a nearby suburb to avoid competitive saturation.

5. Decide What Services You Will Provide

Most real estate agents provide the expected services such as conducting open houses, finding homes for buyers, determining pricing, negotiations, and keeping transactions organized in general.

But you can offer additional services that set your business apart. For example, you may provide:

• Staging: Staging involves setting up the home, so it looks more aesthetically appealing. Once upon a time, staging was offered as an addition service. But today, many agents are rolling it into their agent fees. The agent may stage the home themselves, or they may bring in a specialized team for staging.
• Professional Virtual Tours: Today, virtual real estate tours are the way to go. They allow clients to get the experience of being in the home without having to leave their home. If you are not offering this service, it’s time to get onboard.
• Neighborhood Analysis: Most agents provide clients with an overview of what a neighborhood has to offer. But if you want to go that extra mile, you can provide an in-depth report that includes crime rate, types of properties, demographics, and more.
• Relevant Discounts: Agents can offer clients relevant discounts in terms of handyman services, inspections, appraisals and more.

6. Carve Out a Niche

It’s important to carve out a niche in terms of what type of property you want to sell and who your target audience is. But you can get even more ‘niche-y’ by specializing in certain types of properties such as condos and townhouses, catering to first time buyers and so on.

It may seem like carving out a niche is limiting, but it will make people come to you first when they require expertise in your field. When choosing a niche, base it on what you are most skilled at and where you see an opportunity to grow professionally.

7. Create a Marketing Plan

The first step of your marketing plan will involve identifying your target audience and determining the best way to reach them. For example, if you are focused on first time buyers, you will be targeting a millennial crowd. In addition to emphasizing money saving goals, you may also want to advertise yourself as an agent that is environmentally friendly and gives back.

A luxury crowd may have similar concerns, but their main interests will be in finding high end properties that offer the utmost in amenities.

You must also consider the best way to reach your target audience. What social media platforms are they likely to be on? Do you think they will respond well to cold calls , door knockings , and mailings? Or is it best to keep things digital?

You must also consider race, color, origin, sexual orientations, and disabilities. Create marketing materials that are appealing and will not discriminate in any way.

8. Conduct a SWOT Analysis

SWOT stands for Strengths, Weaknesses, Opportunities, and Threats.

In terms of strengths and weaknesses, you must consider what you are best at and what could use improving. For example, you may find that you have superior digital skills but that you’re not so great with cold calling. If this is the case, you should focus on digital and avoid cold calls.

However, you may also consider improving weak spots. For example, if it was the other way around and digital was a weakness, you should consider building up your digital skills. This will give you a competitive advantage in today’s world of real estate.

It’s also important to be aware of opportunities and know when to pounce. This will help a lot with lead generation. For example, FSBO, near pre-foreclosure, and divorces are all ideal situations for an agent to come knocking. You may also think of opportunities in terms of underserved areas and niches in your community.

Threats can come in the form of competition and/or changes in the market. There is usually no way to keep these threats from happening, but you can take steps to be prepared when they occur. This will ensure you are in the best shape possible for taking them on and minimizing potential damage.

9. Focus on Your Specific Goals

• Making a certain amount of money in a given time
• Completing a certain number of transactions in a given time
• Attaining a certain number of new clients in a given time
• Reducing lead time
• Growing your company by hiring new agents and employees or opening new locations
• Determining a better work/life balance

When you set up your goals, it’s important to make them measurable and attainable. If your goals aren’t attainable, you will end up wasting time working towards goals you will never reach. You will also become frustrated by your lack of progress.

Measuring goals can be challenging. In today’s digital world, reports and analysis are provided so you can determine your ROI and figure out what’s working and what isn’t. If you are outside of the digital realm, it may be more difficult to measure your progress, but you should have some idea of how well you are doing.

10. Keep Track of Your Finances

No matter how passionate you are about your business, it won’t be a success unless you are making money. You must keep track of how much you are spending and how much you are earning. Your net profits should always be positive.

For best results, implement an online system like QuickBooks. Online bookkeeping systems will provide reports so you can see where most of your money is being spent and your main sources of income. This will help you determine what’s bringing in the most ROI, what’s generating income, and what’s not.

You may also consider hiring an accountant and/or a financial consult. Your financial team will ensure you are making smart moves at tax time and when investing in tools, software, and other business ventures.

11. Review Your Success Ratios

Your success will also be contingent on customer satisfaction. Are your customers pleased with your services? Are they referring friends and family?

If your success ratios are looking good but your finances aren’t matching up, you may be overspending on certain aspects of your business. Look at your records to see where the bulk of your money is going. Cut back if necessary.

12. Revisit Your Real Estate Business Plan Regularly

Your business plan is not set in stone. It’s a good idea to check it on a regular basis so you can revise it in accordance with your current needs. You may also want to create a new business plan if you decide to change up your business model.

A real estate business plan is a valuable tool for agents. It will keep you on course in attaining your goals. This template will help you devise a plan that is best suited to your professional needs. We wish you the best of luck in moving your company forward.

You’re a successful real estate agent, but you’d like to step to the next level. To do that, you want to create a better business plan for next year. So, how do you start? By filling out that form your manager gave you, asking for your goals for next year? Or, maybe you’re attending those trainings where seminar gurus give you 30 things to do next year. That will put you in a quandary because you don’t know how to choose! Please don’t leap to either one. Before you commit, take a look back at your last year (In the strategic planning process, it’s called the ‘ business review’.) Using the same thought process successful businesses use to create effective business plans will give you clarity.

Time To Scope Your Business Plan: Small Adjustments Pay Big Dividends

You and your business are unique.

Don’t copy someone else’s plan or commit to pie in the sky numbers until you know your three business indicators here. Armed with that information, you can pick and choose your actions and goals wisely, because you know they will work for you.

Building Your Business Best: From working with agents in my business planning courses and systems, I’ve observed that many agents don’t build a business plan around their best source of business: ‘sold’ customers and clients. Marketing surveys show that it costs six to nine times as much to get a new customer as to keep an old one. So, if you spend more money on your best source, and less on your other sources, you’ll optimize your investment.

3. How ‘delighted’ are your clients? Most so-called ‘business plans’ in real estate merely are goal-setting grids. Focusing only on the end results suggests that the ends justify the means. However, the consumer sure doesn’t think so! These goal setting grids alone lead agents to miss the point of the decade: Top-flight customer service begets more business. That is, it’s not just what you do, but how you do it. What level of service are you providing? Is it just good enough to get through the transaction? Or, is it so great that your clients are thoroughly delighted ? (Delighted consumers refer business to you–less cost and more effort equals big pay-offs, right?)

Build Delight into your Business Plan

Don’t Worry About the Tactics

If you’ve been gathering those dozens of tactics seminar gurus have suggested you MUST do, your head is probably spinning. That’s not the way to go about creating an effective business plan. Instead, take time to use the strategic planning process, which includes your business review. Commit one hour out of your day now to assess the three areas here and plan adjustments. The bonus: With your answers, you can pick from that myriad of action plans you’ve gathered and choose the ones that support your major goals. Now you have the ‘why’ for your plan, and you’ll be inspired to create and implement your unique business plan.

About the Author

Chris Heller brings 27 years of experience in real estate. Chris serves on the Agent Advice Editorial Board and is the Chief Real Estate Officer at OJO Labs. Chris brings deep expertise having held influential industry positions including CEO of mellohome and former CEO of Keller Williams Realty International.

Last Updated: 12/29/2023

• Best Real Estate CRM's
• Real Estate License Reciprocity Rules
• How to Get Your Real Estate License
• Join eXp Realty
• What to Consider When Picking a Brokerage
• Best Real Estate Company to Work For
• North Carolina
• South Carolina

Leave a comment Cancel reply

Your email address will not be published. Required fields are marked *

• Get started

The Perfect Business Plan for Success in 2025

November 19, 2024

A well-crafted real estate business plan is essential for agents and brokers who want to set clear goals, stand out in a competitive market, and attract clients. Research shows that businesses with formal plans are as much as 30% more likely to achieve long-term success, and entrepreneurs with a business plan are 260% more likely to launch.

The key to making your business plan work is updating it every year. Looking ahead this year, technology, particularly artificial intelligence (AI ), is rapidly transforming the real estate industry, streamlining processes, enhancing customer experiences, and enabling data-driven decision-making. With these advancements reshaping the landscape, now is the perfect time to create or revisit your real estate business plan to ensure it leverages these innovations, stays competitive, and aligns with evolving market dynamics.

Find It Fast

Why you need a real estate business plan

As a strategic blueprint for any agent, team, or brokerage, a real estate business plan maps out key facets, critical milestones, company goals, and a business’s overall financial health. A plan needs a clear vision and roadmap for how the company will achieve its goals and grow within its specific market.

It is also essential for determining your identity in the luxury market and what you can offer clients. It helps you hone in on your ideal customer and allows you to assess the financial viability of your business easily. Think of your real estate business plan as a guide to your goals and a clear-cut strategy for how you can stand out from the competition, grow your business, and fulfill your overarching mission.

Additionally, for broker-owners, general business plans are pivotal in securing capital and compelling potential investors or partners. A great business plan can attract skilled employees and top-level talent , leading to further expansion and growth.

Your step-by-step guide to creating a real estate business plan

Each section below will guide you through the critical components of a strategic business plan, helping you stay on track, avoid common pitfalls, and adapt as your business evolves.

1. Executive summary: The foundation

The executive summary is the cornerstone of your real estate business plan. It should succinctly outline your business’s mission, services, and objectives. Although it appears first, write it last, so you can capture all key points accurately.

Key elements:

• Mission statement that defines your purpose
• Overview of services offered
• Brief snapshot of target market and financial goals
• Unique value proposition and brand identity

Examples of mission statements

• Compass : Our mission is to help everyone find their place in the world. Compass is building the first modern real estate platform, pairing the industry’s top talent with technology to make the search and sell experience intelligent and seamless.
• Sotheby’s Realty : Built on centuries of tradition and dedicated to innovation, the Sotheby’s International Realty brand artfully unites connoisseurs of life with their aspirations through a deeply connected global network of exceptional people.

Pro tip : Your executive summary should be the one part of your business plan you can recite from memory. There’s no fluff. Consider this your elevator pitch to sell your vision and convince others to join you on your mission.

2. Business description: Clarify your value and structure

Your business description outlines what makes your real estate business unique, detailing your structure, services, and market positioning.

• Legal structure (LLC, sole proprietorship, etc.)
• Deep dive into target market demographics and geography
• Summary of your unique selling proposition (USP)

Pro tip : Define a specific niche within the real estate market to differentiate yourself. Clarifying your unique value proposition will help target marketing efforts and attract your ideal clients.

Rewrite your brand strategy

Our free resources can help you define your personal brand, level up your marketing plan, and reach your target audience.

• Download your worksheet

3. Market analysis: Research and competitive insights

A strong market analysis demonstrates your understanding of the local real estate landscape, enabling you to identify growth opportunities and competitive advantages.

• Market trends and size
• Competitor insights
• SWOT analysis (see below)

Specific questions to research

• What is the size and stability of your local market?
• Is the market currently on an upward or downward trajectory?
• What are the current demographics of the market?
• What segment of the market do you want to target?
• Is there a demand for a particular type of housing?
• Are there more sellers than buyers, or vice versa?

SWOT analysis

Conduct a detailed SWOT analysis by identifying and evaluating your business’s strengths, weaknesses, opportunities, and threats. Begin by listing internal strengths — such as industry expertise, strong local market knowledge, or a robust referral network — and weaknesses, like a limited social media presence or a lack of certain property expertise.

Next, focus on external factors: Look for opportunities such as emerging neighborhoods, demographic shifts, or economic trends that could drive demand. Finally, identify threats like rising competition, fluctuating interest rates, or market volatility. This analysis provides agents and brokers with a clear picture of their position, helping them make strategic decisions to leverage strengths, improve weaknesses, seize opportunities, and mitigate potential threats.

Questions to ask in your SWOT analysis

• Is your brand recognizable?
• Do you have an active pipeline of new leads ?
• Do you lack consistent social media or online content?
• Is your brand relatively new or unrecognizable ?
• Which lead-generation opportunities are you missing out on?
• Is your website engagement lacking?

Opportunities

• Has your team just branched out to a new area of real estate?
• Is market demand growing in your area?
• Have you uncovered a new source of referrals?
• Are there any new teams in your niche that offer a USP similar to yours?
• Are mortgage rates rising enough to slow down demand?

4. Marketing strategy: Reaching and engaging clients

Your marketing strategy is a central part of your real estate business plan. It should detail how you plan to attract, engage, and retain clients through multiple channels, including digital marketing and client referrals.

• Branding and positioning strategy
• Online presence (website, social media, SEO)
• Content and email marketing plans
• Referral programs and networking events
• Budget for each marketing channel

Pro tip : Clearly define your target audience and tailor your messaging to their preferences. Use social media, email marketing, and strategic content to connect with clients and showcase your listings and expertise.

5. Financial projections: Outline your monetary roadmap

As a barometer of economic health, a financial framework is a crucial aspect of your real estate business plan. It gives you a better idea of the valuation of your business, acts as a guide for your budget, and helps you set more realistic financial goals.

• Profit and loss statement : Also called an income statement or pro forma, this shows a company’s profitability (or lack thereof) over a certain length of time.
• Cash flow statement : This provides an overview of your actual cash position, demonstrating where your money is originating and where it’s going.
• Balance sheet : A balance sheet shows where you stand regarding assets, liabilities, and equity at a specific point in time.
• Operating budget : An operating budget is a detailed view of your income and expenses, usually over 12 months.
• Break-even analysis : This outlines the minimum sales necessary to cover all costs, offering further insight into the profitability question.

Pro tip : Regularly review and adjust your financial projections to keep your business on track, using forecasts and analyses to guide decisions, manage expenses, and allocate funds effectively.

6. Operations plan: Streamline your daily activities

The operations section of your real estate business plan details your daily processes and systems, helping you maintain efficiency and consistency.

• Office location

Compliance protocols and client communication standards

Deciding on office space.

Deciding whether to lease office space or work remotely as a real estate agent or broker depends on your business model, goals, and personal preferences. Consider your client interaction needs — if you frequently meet with clients and want to provide a professional setting for discussions, a dedicated office can enhance credibility and create a controlled environment. However, if most of your client meetings occur at properties, coffee shops, or virtually, a home office or coworking space may suffice.

Your team structure also plays a role in the decision. Brokers managing a team may benefit from a physical office space to facilitate collaboration, training, and team building, while solo agents or small teams relying on digital tools like Zoom or Slack may find remote work more practical.

Finally, cost is a significant factor. Leasing or purchasing office space comes with expenses like rent, utilities, and maintenance, making it best suited for agents with a stable income or specific needs for a physical location. Remote work, on the other hand, can help reduce overhead costs, allowing you to allocate resources elsewhere in your business.

You must ensure that all your operations align with legal and regulatory requirements, protecting your business from fines, lawsuits, and damage to your reputation. These requirements include adhering to fair housing laws, properly managing client funds, and maintaining accurate transaction records.

Clear client communication standards are equally critical, as they foster trust and professionalism while ensuring a consistent experience for every client. Establishing guidelines for response times, the tone of communication, and sensitive information helps agents provide reliable service, minimize misunderstandings, and uphold the brokerage’s reputation.

Cutting-edge technology and AI

It’s crucial to regularly analyze and assess your use of technology. The emergence of cutting-edge tech, particularly AI, has the potential to completely transform how you manage listings , nurture leads , and interact with clients.

It may be tempting to hold off on implementing AI in your business until the technology is well established, but this could allow early adopters to make exponential leaps ahead of your business. Because the benefits of integrating AI will compound over time, those who resist taking advantage of the technology will struggle to catch up. Now is the time to explore innovative tools that can streamline your operations, improve decision-making, and elevate the client experience, ensuring that your business remains agile and ahead of the curve .

Pro tip : Real estate agents can use technology tools like CRM systems, automated email campaigns, and AI-powered chatbots to streamline repetitive tasks , such as lead follow-up and client communication. By automating these processes, agents save valuable time, allowing them to focus on building relationships and closing deals, ultimately increasing productivity and enhancing client satisfaction .

AI Lead Nurture

Luxury Presence’s artificial intelligence tool replies to inbound messages quickly and automatically, increasing lead reply rates to over 50%.

7. Team building and growth: Planning for expansion

As your business grows, building a team or expanding your current one may become essential if you want to increase your transaction volume while maintaining high service standards. A clear structure for team growth helps you prepare to scale smoothly.

• Organizational structure and key roles
• Defined responsibilities and hiring criteria
• Training and development strategies
• Long-term growth objectives

Steps to scale

Real estate professionals can effectively analyze their budget to plan for expansion by carefully evaluating their current financial position and forecasting future needs.

• Start by reviewing income streams, such as commission revenue, referral fees, and ancillary services, to identify consistent cash flow patterns.
• Next, assess existing expenses, including office space, marketing, technology, salaries, and transaction-related costs, to pinpoint areas for optimization or reallocation.
• It’s also essential to calculate the potential costs of expansion, such as hiring new agents, increasing marketing efforts, upgrading technology, or securing additional office space.
• Consider potential ROI by projecting how these investments could lead to increased leads, transactions, or client retention.
• Regularly monitoring key financial metrics, such as profit margins and operating costs, can help you make informed, data-driven decisions and ensure that expansion aligns with your long-term business goals.

Pro tip : Even if you’re a solo agent, plan ahead for growth. Define roles that might be needed in the future, and develop a strategy for hiring and onboarding. Clear role definitions will help ensure your team members align with your business vision and maintain high service quality.

8. Goals and milestones: Defining your path to success

Setting clear goals and milestones gives your business a sense of direction, helping you stay motivated and track progress. Goals should be achievable yet ambitious, pushing your business forward while remaining realistic.

Defining key performance indicators (KPIs) in your real estate business plan provides a tangible way to measure success and make data-driven decisions. Tracking performance helps you understand what’s working and where there’s room for improvement.

Pro tip : Regularly monitor these metrics to gauge the effectiveness of your marketing and operations. If you find certain strategies are performing exceptionally well, consider allocating more resources to those areas for higher returns.

Perfect your budget

Curious about your return on investment when it comes to advertising? Our ROI calculator makes it easy to predict and optimize your campaign performance.

• Get started now
• Short-term goals (3-6 months) for immediate focus
• Medium-term goals (1-2 years) for steady progress
• Long-term goals (3-5 years) for overall vision
• Key milestones to assess progress

Implementing the SMART method

Real estate agents should use the SMART checklist to ensure all of their goals are specific, measurable, achievable, relevant, and time-bound. For example, instead of a vague goal like “increase sales,” an agent could set a SMART goal such as “close five additional transactions per month within the next six months by expanding social media outreach.”

This approach ensures each goal is clearly defined (with the specificity of a monthly cadence), includes a quantifiable target (measurable in that they’re targeting five additional transactions), is within reach (achievable given the plan to increase social media inputs), aligns with broader business objectives (relevant to expanding one’s presence in the real estate market), and has a set deadline (time-bound to occur within the next six months).

Pro tip : Regularly review and adjust your goals based on key milestones and performance data. Schedule quarterly check-ins to assess your progress on short-term goals and make necessary adjustments, such as refining your strategies or setting new milestones. This routine review process keeps your goals aligned with market changes, client needs, and personal growth, ensuring your business continues moving forward effectively.

Common mistakes to avoid

When creating your real estate business plan, be mindful of common pitfalls that can hinder your success.

• Waiting for perfection : Don’t hold off on executing your business plan until it’s “perfect.” Start with a strong draft and refine it as your business grows and market insights evolve.
• Neglecting feedback : Having an outside perspective is valuable. Ask colleagues, mentors, or industry professionals to review your plan for any overlooked details or inconsistencies.
• Underutilizing the plan : Use your business plan as a guide for making strategic decisions, not just a document you set aside once the busy season starts. Regularly review it to stay aligned with your vision and goals.
• Failing to revisit : Periodically updating your business plan is essential to adapt to market changes, new business opportunities, and evolving client expectations. Update your plan every time there is a significant change to your business, making sure to address it at least once each year.

Luxury Presence is your ideal partner in building your real estate business

Crafting a strategic real estate business plan is a powerful start, but having the right tools and guidance can elevate your business to the next level. Luxury Presence provides a suite of digital tools designed specifically for real estate professionals, from beautifully designed websites and SEO services to targeted marketing strategies that help you reach your ideal audience.

Our team of experts is here to support every step of your journey , ensuring you have the resources and insights needed to stand out in a competitive market. Contact Luxury Presence to learn how our solutions can help you implement your real estate business plan effectively, build your brand, and drive growth.

Schedule a call today

Share article

Related posts

November 15, 2024

The Future of Real Estate Branding: Expert Insights and Predictions for 2025

Just about every real estate professional will agree that 2024 will go down as one of the most tumultuous years in our industry. As …

• Agent Websites

November 14, 2024

Choosing the Best Real Estate Website Solution: Comparing Luxury Presence and AgentFire

A powerful website is crucial for standing out and winning clients in real estate. The provider you choose plays a pivotal role in shaping …

November 13, 2024

5 Strong Real Estate Brands and Why They Work

The best real estate brands are made up of more than just logos or catchy slogans. They’re all-encompassing identities that resonate with clients, communicate …

Get a $500 discount if you book a demo by Nov. 30

See why 13,000 clients — including Ryan Serhant, Josh Flagg, and Tracy Tutor — trust Luxury Presence. Book your demo before November 30 and get a $500 credit.

Book a Demo

Call us at (310) 955-1077

By providing Luxury Presence with your contact information, you acknowledge and agree to our Privacy Policy and consent to receiving marketing communications, including through automated calls, texts and emails.

Create a Real Estate Business Plan: Template, Tips & More

A real estate agent business plan is a document that outlines your comprehensive strategy to grow your real estate business. It outlines important milestones of your approach, identifying what your goals are and how you will achieve them.

Because of the nature of the real estate business, you can construct plans as a broker, agent, etc. There are several ways to focus your goals and tactics when you are writing a real estate business plan, and each specific role you have will change what you’re trying to achieve and how you will do it.

It’s fundamentally important to remember that in real estate, there are two things to keep on the top of your mind:

• You are your own boss and manage your own business.
• Being busy doesn’t always mean that you’re making money.

Combining these two important thoughts leads us to one conclusion — that having a written-out plan will help determine what you’re trying to accomplish and will help keep you committed to a specific plan of action. A business plan for real estate agents is sure to help you identify measurable goals while helping you stay on a predetermined route to reach your ambitions.

Additionally, a plan will identify prospective issues you expect to run into and how you plan to overcome them. The plan will assign roles and responsibilities, and allow you to measure your success as your business progresses.

It’s important to know that you’re not in this alone – we have an experienced team of coaches who can help you  create a real estate business plan that makes it simple and easy.

Why Create a Real Estate Business Plan?

Studies  have shown that creating a business plan for real estate can increase your chance of success by 12%. Additionally, it can raise your chances of success by 27% when you commit to writing a real estate business plan and combine it with other things like talking to prospective customers, making marketing materials, and getting yourself ready for business.

What’s more, you will be taken more seriously by potential business partners, brokers, and banks because you have dedicated time to sit down and devise a written plan that precisely outlines the actions you plan to take. This shows that you have placed significant personal investment in your business, and gives others peace of mind that they can join you in this venture.

A real estate business plan gives you a clear direction and an operational checklist for identifying your goals. Some questions it will answer are:

• Who is my prospective client?
• How much do I want to earn?
• What do my sales need to look like to reach my ideal take-home pay?
• How will I cover the expenses of my business?

A plan is not set in stone and allows for adjustments as situations arise – but should be thoroughly devised enough to help you overcome foreseeable challenges like identifying leads and finding funding money to get started.

How to Start

Executive summary.

The executive summary of a real estate business plan establishes your hopes and dreams, a broad overview of how you plan to accomplish them, and highlights from the research used to support your decisions.

It should identify who your potential clients are, the areas you plan to focus on, and any potential sales opportunities (for example, the average house in this area is $450k). If there are any competitive assessments, those are also important to note here.

In many ways, consider this your elevator pitch. Given 30 seconds, or the amount of time you were in an elevator with someone, how would you describe your ability to  be profitable in real estate ?

Write a Detailed Business Description

If you’ve ever seen the show, “Shark Tank,” you’d be familiar with how the business owner stands in front of the investors and shares their story about why they should invest in their product. This is the detailed business description of your plan, where you tell what inspired you to get involved in real estate.

The description will highlight the opportunity and how you plan to make the most of it, while answering ‘who, what, when, where, how, and why’. Who is your prospective client? What makes you different and what is your client looking for? When are they typically looking to buy or sell their property? How do they typically start their search or process of selling their home?  Questions like these  will help shape your detailed business description to answer questions that you might not think about at first.

Perform a SWOT Analysis

If you’re unfamiliar with the term “SWOT”, it stands for (S)trengths, (W)eaknesses, (O)pportunities, (T)hreats. When applying a SWOT analysis to writing a real estate business plan, the coined term helps you identify some of the core questions that arise when planning.

Strengths address what makes you different and a better choice than your competition. Will you be more knowledgeable? Have you lived in the area you’re targeting your whole life? Are you a well-known member of the area who already has created a personal brand that will go far in real estate?

Weaknesses address the exact opposite. What things are you lacking? What things do others do better? Naturally, if you’re breaking into real estate, one of the first things you’d note is experience. Having multiple weaknesses isn’t a  bad  thing. It means you’ve identified potential issues and how to overcome them. For example, a new agent with experienced coaches can quickly overcome the example weakness.

Creating a Strategic Real Estate Business Plan

Defining your marketing strategy.

As much as you would like to be the perfect fit for all clients, the reality is that you are going to have a specific type of client that’s going to work the best with you. Maybe it’s someone from a specific area of town, first-time homebuyers, those using specific types of financing options, or those in the Armed Forces.

Identifying your market niche isn’t going to limit you to a specific clientele, but it’s going to direct your marketing and branding so that you’re not throwing lots of things and hoping that something sticks. This means saving time and money by directing your marketing efforts to the most meaningful ways, giving you the biggest bang for your buck.

Understanding the marketing strategy aspect of your real estate business plan will help you know who your target is, what their defining characteristics are, what services they are seeking, and help you understand how to grow those specific relationships.

Understanding  how you will generate leads  is incredibly important in developing your plan. If you don’t have leads, you won’t have sales — which means you won’t make money. Because of the nature of the business, you’ll need to understand how prospective clients start the process (which is usually through looking at things online).

Creating a Financial Plan

An important aspect of writing your business plan will always include money. Here you will identify your expenses, income, and estimate your sales goals. It’s important to create realistic and well-thought-out measurements in this section, to understand how your plan will come together.

When looking at your expenses, consider all things that will change for you on a licensing, personal, and business level. Licensing may seem self-explanatory, but ongoing education, covering multiple states, and other things might pop up. Personal expenses are also easily overlooked — will you need to buy different clothes, will a new smartphone be important to your work, and will your cost of gas rise? Business expenses are things like your broker fees, advertising costs, and other things often charged directly from your office.

A true financial plan is not a rough collection of estimates or guesstimates. It’s a close look at the reality of the costs you will be facing when you choose to start on the endeavor, and a true understanding of what it will take to achieve your goals. One of the basic goals you will look at financially is the ability of real estate to keep you economically profitable in consideration of your time and resources.

Analyze Your Local Competition

In-depth research into your local competition will help you beyond your SWOT analysis. When you’re looking at other offices that might be competing with you, consider what sets you apart and makes you different. Also,  use this competitive insight to grow your brand  and sharpen the services that you offer to clients.

For example, if your focus is on first-time homebuyers, are there any competitors that also have this focus? What do they do that seems to work? What can you offer that they don’t? There are generally four areas that will set you apart in regards to your competition; the product (your brand and focus), the price (your commission and price you seek for your clients), the place (your ideal market you’ve chosen to focus on), and promotion (meaning the way you’ll choose to market to generate leads).

Understand Your Ideal Customer

Understanding your customer is critical in writing a real estate business plan. Without that important link, you won’t meet your goals, your marketing dollars will be wasted, and your time will be spent without result.

The important things to know about your customer are:

• How do you reach them? Will they respond better to emails, texts, or calls?
• What matters to your clients? Is it more space, interior luxury, or location?
• What brand does your client subscribe to? Will they value Walmart or Whole Foods more?
• What matters most to your prospective buyer? Is it space, price, or something else?
• What is your ideal demographic? This is age, sex, etc.

Having a firm grasp on these important things will help you develop your plan so that you can speak to what your market research is telling you. Perhaps your opportunity is in selling new homes in an up-and-coming area, or to military families who have been given new orders near a base. Referrals and leads will always attract outside of your ideal mindset, but this will help you focus your efforts.

Implementing Action Plans

An action plan is a carefully considered set of steps to take in  achieving a specific goal . For example, if your goal is to get ten new leads a month, an action plan will help you get there. An action plan establishes a clear goal and the different things that need to be done to reach your objective.

You might have different action plans for marketing, closing sales, ongoing education and personal development, social media goals, etc. All of these individual action plans will help carry your real estate business plan to fruition.

Evaluating and Revising Your Plan

Your business plan is sure to be a living document as time goes on. With a constantly evolving real estate market, it is critical to stay up to date with the latest news – not only for the industry, but also for the markets you specialize in. As you continue to meet and shake hands with individuals, new doors will open, offering you opportunities that you probably didn’t consider when you originally developed your plan.

For example, maybe you’ve met a developer who’s asked you to help list their properties. What you learn from your clients will be equally important to your plan – if things don’t matter, save time and resources by removing them. Additionally, if there are things missing (like virtual open houses, alternative social media focuses, etc), find a way to incorporate them into your plan.

There’s something to be said for pulling from the experience of others, and  having an experienced real estate coach look over and help develop your real estate business plan is a great way to jump past the typical pitfalls new agents face.  A new agent starting out , dreams of the financial freedom to spend more time with their family and friends. Skipping over the learning curve by having an experienced professional will only help you achieve your goals faster.

"> "> Book a product demo

I am an Agent

We're a Team

I am a Broker

Start your free Placester trial

Marketing Academy

Ultimate Guide: 11 Points to Writing a Real Estate Business Plan

29 min read

Failing to plan is planning to fail. Your business plan is the GPS for success. Instead of wandering, push towards your goals and objectives with clear direction. Developing a real estate business plan is critical to forming a healthy and sustainable business. 

A real estate business plan is an important step for any real estate agent looking to build a successful career in the industry. While there is no one-size-fits-all approach, there are certain key elements that should be included in any plan. First and foremost, it is essential to set clear goals and objectives.

A study of 2,877 business owners found that companies are twice as likely to secure loans and funding if they have a business plan and 75% more likely to grow. Another study showed that 64% of companies who created a plan increased their businesses, compared to 43% of companies that hadn’t yet finished a plan. 

Your own business plan is an essential tool for any business, small or large. Real estate agents use business plans to map their marketing strategies, target their advertising, and track their progress. A business plan helps agents set goals and stay on track throughout the year. It is also a valuable reference point when meeting with clients and potential investors. 

While there are many different ways to create a real estate business plan, certain elements should be included in every scenario. These elements include an overview of the business, the company’s goals and objectives, a marketing strategy, and a financial analysis. By having these key components, companies can ensure that their real estate business plan is comprehensive and will help them achieve their desired results.

Harvard Business Review (HBR) stated that the chances of success rose by 12% for those that spent no longer than three months on their plan . With any longer proving futile. So, how do you write a business plan for your real estate business without getting bogged down in the details? In this post, we’ll look at actionable steps agents and brokers can take to outline, execute and measure the performance of a business plan.

As a real estate agent, you know that the housing market can be unpredictable. You need to be prepared for the ups and downs of the market, and one way to do that is to have a business plan. Your business plan will help you set goals and track your progress. It will also force you to think about the costs of running your business and how you will generate leads. There are many online resources that can help you write a business plan, but the most important thing is to get started. By taking the time to write a plan, you will ensure that your business is ready for whatever the housing market throws your way.

What is a real estate business plan?

A business plan is a written document that captures the future of your business. It details what you plan and how you plan to do it.

Real estate business plans are essential for two reasons. First, they provide a road map for agents to follow as they work to build their businesses. Second, they force agents to think through all the crucial aspects of their business, such as their marketing efforts, target market, and financial goals. 

By taking the time to write a Real Estate Business Plan, agents can ensure that they are taking all the necessary steps to build a successful business.

A Real Estate Business Plan is an essential tool for any business, whether you are just starting or have been in business for years. There are many benefits to creating a Real Estate Business Plan, including: 

• Having a Real Estate Business Plan forces you to take a step back and assess your business as a whole. It allows you to see where your business stands, and identify any areas that need improvement.
• A Real Estate Business Plan provides a roadmap for your business. It can help you to set goals and track your progress over time.
• A Real Estate Business Plan can help secure your business funding. If you seek investment from Venture Capitalists or Banks, they will often require a copy of your business plan before considering your request.
• A Real Estate Business Plan can help you to attract and retain top talent. If you are looking to hire employees or contractors, having a well-crafted business plan can be a significant selling point.
• A Real Estate Business Plan can be a valuable tool for managing day-to-day operations. A clear and concise plan can help you better decide where to allocate resources and how to utilize your team’s time and talents best.
• A Real Estate Business Plan can help you to measure and track your marketing efforts. By setting specific goals and objectives, you can more effectively gauge the success of your marketing campaigns and make necessary adjustments along the way.
• A Real Estate Business Plan can serve as a valuable sales tool. A professional business plan can give you a significant competitive advantage if you are looking to sell properties or convert leads into clients.
• A Real Estate Business Plan helps to keep you organized and on track. Trying to run a successful real estate business without a plan is like trying to drive from New York to Los Angeles without a map – chances are, you’ll get lost along the way!

Having a Real Estate Business Plan gives you credibility in the eyes of others. If you are working with other professionals such as lenders, appraisers, or title companies, having a well-developed business plan shows that you are serious about your business and increases the likelihood that they will want to work with you in the future.

Last but not least, creating a Real Estate Business Plan is empowering! Taking the time to develop a comprehensive plan shows that you believe in yourself and your business and sets the foundation for long-term success.        

Precisely, it conveys your business goals, the strategies and tactics you’ll use to achieve them, potential problems you may run into along the way and how to overcome them, roles and responsibilities, SWOT analysis, and measurement strategies.

What should a real estate business plan include?

Real estate business plans are different from traditional business plans. 

Real estate agents need to focus on their target market, their uniqueness, and how they will succeed against the competition. Real estate business plans should also include an analysis of the current market conditions and the potential for growth in the future. In addition, real estate agents should outline their marketing strategy and have a budget for advertising and promotions. By taking the time to create a comprehensive business plan, real estate agents can increase their chances of success in this competitive industry.

Real estate business plans vary in length and complexity, but all should include the following elements: 

• An overview of the real estate market 
• A description of the agent’s target market 
• A marketing plan 
• A financial plan 
• A discussion of the agent’s competitive advantages 

Real estate business plans provide a roadmap for agents to achieve their goals. They should include specific strategies for generating leads, marketing properties, and closing deals. The business plan should also outline the agent’s budget and target income. Additionally, the real estate business plan should set forth a schedule for prospecting, listing appointments, and open houses. By following a real estate business plan, agents can increase their chances of success in real estate.

How do you assemble a real estate business plan?

A business plan is essential for any real estate business, whether you’re just starting out or have been in the industry for years. It provides a roadmap for your business, laying out your goals and strategies for achieving them. But how do you go about assembling a business plan?

First, you’ll need to identify your target market. Who are you trying to reach with your real estate business? Once you know your target market, you can start developing your marketing strategy. What methods will you use to get potential clients? How will you differentiate yourself from other real estate businesses in your area?

Next, you’ll need to put together a financial plan. What are your revenue sources? How much money do you expect to bring in each month? What are your expenses? How much do you need to save for a rainy day? A clear financial picture will help you make sound decisions for your business.

Lastly, don’t forget to include a personal development plan. What skills do you need to improve to succeed in the real estate business? What classes or training programs can you take to close more deals and earn more commissions? A well-rounded business plan will help ensure your real estate business is booming.

Writing a Real Estate Business Plan in 11 Easy Steps

1. write a detailed business description.

There’s a story and context behind your business, and the business description is where that should shine. Write a brief overview of your Real Estate business. Include your business goals and how you plan on achieving them. Then create a description of your company, including its history, structure, and other relevant information.

The mission statement is part of the business description — which helps keep the rest on the track. Many mission statements follow a familiar format, like:

“To be the best, full-service Real Estate company in the Triangle and to enhance our quality of life through active community involvement.”.

In a microstudy of 200 mission statements, it was found that mission statements most often talk about the company’s dedication to customers (85%), shareholders (37%), employees (21%), and society (3%).

As well as a defined mission statement, make sure to include:

• When you were founded
• Where you are located
• Who the leaders are
• Special advantages/partnerships
• Market opportunities
• Legal structure

A very brief real estate business description example is:

“Norris & Company Real Estate is Vero Beach’s premier upscale real estate firm. They specialize in luxury waterfront homes and condominiums, particularly in Vero Beach and Indian River County, FL.”

2. Market Analysis

Research the Real Estate market in your area and identify any trends or opportunities. Include this information in your business plan.

Real estate agents must constantly be aware of the market conditions in their area to serve their clients best. Agents can provide expert guidance and advice by understanding the trends and opportunities.

When writing your Real Estate business plan, including a comprehensive analysis of the market conditions in your area. It will help you better understand your client’s needs and identify potential opportunities.

Your market analysis should include:

• An overview of the Real Estate market in your area
• Identification of any trends or opportunities
• An explanation of how you will address these trends or options in your business plan

By including this information in your Real Estate business plan, you will be able to show potential clients that you are knowledgeable and prepared to help them navigate the Real Estate market.

3. Perform a SWOT Analysis

A SWOT analysis is a technique used to identify and define several key characteristics that will impact your business: Strengths, Weaknesses, Opportunities, and Threats.

Think of it this way:

Strengths and Weaknesses are internal. Threats and Opportunities are external.

An analysis can be as simple as making lists of items under each category.

For example, a strength could be a solid and experienced sales team, while a weakness might be that your business is expensive to run because you haven’t nurtured supplier relations.

It could be as simple as filling four sheets of paper with descriptions of the strengths, weaknesses, opportunities, and threats — collaboratively or alone. To make the answers clearer and the exercise more manageable, you can use questions like:

• What do our competitors do better than us? Threat .
• What’s our unique selling point? Strength .
• Why have customers churned in the past? Weakness .
• Which markets are underserved in your territory? Opportunities .

4. List Your #1 SMART Goal

It’s great to be ambitious, but focusing on one goal makes it easier to stay motivated, track progress, and see the measurable effect of achieving it. Even better if that goal is a SMART Specific, Measurable, Attainable, Realistic, and Timed – goal.

Examples of SMART goals you might set for your growing real estate business are:

• Build a new real estate website in the next three months
• Hire and onboard three new SDRs in the next six months
• Increase monthly leads by 50% by next year
• Sell ten houses in the Dallas metro area in the next 30 days.

Pick one at a time and focus on it! Sticking to an achievable goal with a time limit makes it more likely to come to fruition. And, even just writing it down makes you 42% more likely to attain it.

5. Identify Your Market Niche

Before setting out your facts and figures, it’s essential to spotlight your target market and how you’ll serve this niche. It helps you decide what’s realistic and feasible to achieve in your business plan.

Determining your market niche is a fancier way of saying: Who are your services best suited to? While honing in on a narrow target seems a little exclusionary, niche marketing can save you time, effort, and money on marketing.

One tool to help you define your market is a buyer persona. A persona is a fictional typification of your ideal customer, with information that enables you to steer your sales and marketing in the right direction.

It’s essential to assess your niche and ensure it is consistent with the market in your area.

For example, if you’ve decided to focus on first-time buyers, do some research to look at relevant stats and figures:

• What percentage of sales in your market were to first-time buyers in the last 12–14 months?
• What was the average sales price to first-time buyers?

Also, assess how competitive this market is:

• Are you the only agent catering to the young first-timer?
• Are you competing with well-known heavy hitters?

A competitive SEO audit can be a helpful starting point in finding your competitors in the online space, where almost all leads will turn at some point in the buying process.

6. Implementation Plan

Before you can begin implementing your real estate business plan, you must clearly understand your goals and objectives. What are you trying to achieve with your business? Are you looking to buy and hold properties for long-term appreciation, or are you more interested in flipping houses for a quick profit? 

Once you have a good idea of your goals, you can start to put together a plan for how to achieve them. For example, if you’re interested in buying and holding properties, you’ll need to generate enough income from rentals to cover the mortgage and other expenses. If you’re more interested in flipping properties, you’ll need to find motivated sellers and then negotiate deals that provide you with a healthy profit margin. 

Regardless of your goals, careful planning is essential for success in the real estate business.

Breaking your goals into action steps makes them more tangible and ensures you’re making strides to fulfill them. Here are some keys to converting your real estate business plan into actual business practices.

7. Monitoring & Evaluation

Successful real estate businesses have a plan to monitor and evaluate their progress. This plan includes setting clear goals, measuring progress against those goals, and making adjustments as needed. Without this proactive approach, it can be challenging to identify areas of improvement or stagnation. 

Additionally, a well-executed monitoring and evaluation plan can help to keep employees focused and on track. By regularly assessing performance and goal progress, businesses can ensure that they are making the most of their resources and achieving their desired results. Ultimately, a sound monitoring and evaluation plan are crucial for any real estate business that wants to stay ahead of the competition.

8. Risk Management

Real estate investing comes with a certain amount of risk. But with a well-thought-out risk management strategy, you can minimize the potential for loss and maximize your chances for success.

One of the most critical aspects of risk management is diversification. Investing in various property types in different markets spreads your risk and increases your chances of finding a profitable investment.

Another critical element of risk management has a solid business plan. Thoughtfully consider each step of the real estate investing process, from finding deals to financing them to managing the properties. Have a clear exit strategy for each investment to know when to sell or refinance. And always remember to stay within your comfort level; don’t let greed or fear make decisions for you.

With careful planning and discipline, you can create a real estate investment portfolio that withstands market fluctuations and generates long-term wealth.

9. Financial Plan

Having a sound financial plan for your business is essential. To assist you, we’ve created spreadsheets you can use to estimate goals, income, and expenses. You will find specific instructions in the spreadsheets, but here are some guidelines for creating a financial plan:

To create your plan, determine what your expenses will be.

Here are three main areas your expenses may fall into:

• Licensing: These expenses will include training, state exam fees, etc.
• Personal: This can consist of your wardrobe, technology fees (like computer and phone), and car fees.
• Business: Business expenses include broker fees, website and MLS fees, marketing, advertising, etc.

Our template divides these expenses into the startup and yearly costs to help you discern which payments will recur and which are one-time-only. Here’s an example of what your startup expenses might look like.

Yearly expenses might include recurring costs like office rent, electricity bills, and annual license fees.

Estimating income is the biggest concern for most new agents. To do this, you must decide how much money you need to make in your first year and how much you would like that figure to grow. You will also need to research some basic statistics for your market, like the average sale price for homes.

Use our business plan template to help calculate these numbers.

Transactions and Leads 

To meet your income goals and cover expenses, you’ll need to conduct a certain number of transactions. And, to complete a certain number of transactions, you’ll need to work a set number of leads. There’s no need to work this figure out by hand. ‍

Our template will automatically calculate the number of transactions and leads you will probably need to meet your goals. Still, you will have to assess these figures to decide whether they are reasonable. For example, if you plan to work part-time as an agent in your first year but need to close 20 transactions to meet your goals, you are unlikely to have enough time.

10. Create a Personal Development Plan

A personal development plan is an essential tool for any real estate business. By taking the time to assess your strengths and weaknesses, set goals, and create a roadmap for success, you can ensure that your business is on track to reach its full potential. While it may seem daunting, creating a personal development plan is simple. 

Start by taking stock of your current situation. What are your strengths and weaknesses? What are your goals for the future? Once you clearly understand where you are starting, you can begin to map out a plan of action. Set realistic goals and create a timeline for achieving them. Put together a resources list and ensure you have everything you need to reach your goals. Finally, implement your plan and monitor your progress along the way.

Remember, your development plan should be flexible and adapt as your needs change over time. With some planning and effort, you can create a roadmap for success that will help you achieve your long-term goals in the real estate business.

11. Write an Executive Summary that Captures the Vision

Your executive summary is an anchor point you can use to understand the overall goals, cement the parameters of your target market, and make decisions aligned with your plan. It’s also a way to get inspired by your original vision.

For real estate, it would include points on:

• Target neighborhoods and price ranges
• Target clients and a brief description of the persona
• Brief marketing plan overview
• Market threats and opportunities

Think of the executive summary as the section of your business plan you would explain to a friend a football game when asked how you plan to make money as an agent or broker in your local town/ city or state.

Note: due to the specific details in the executive summary, this part of the business is typically one of the last completed items.

Real Estate Business Plan Template

If you’re considering starting a real estate business, you’ll need to create a business plan template. Here’s a basic template that you can use to get started. Remember that your business plan should be tailored to your specific business and industry.

• Executive Summary

The executive summary is a brief overview of your business plan. It should include your company’s mission statement and an overview of your products or services, target market, and growth strategy.

• Company Description

This section will provide an overview of your company, including its history, structure, and team. Be sure to include information on your company culture and values.

• Mission statement

In this section, you will summarize the reason for being and the guiding principles of your organization. For example: “We are a nonprofit that provides free legal aid to those in need.” You can also provide a brief overview of what we want them (the users) to come into contact with. 

Why should they care about our mission or message by telling them why it is vital to their lives now and later down the line?

• Company goals

This section will provide a high-level overview of your company’s top business goals for its first years in operation.

• Market Analysis

In this section, you will need to analyze your target market thoroughly. It should include information on your customers, your competition, and the overall industry.

• Product or Service

In this section, you will need to describe your product or service. Be sure to include information on your pricing strategy and any unique features or benefits your product or service offers.

• Marketing and Sales Strategy

In this section, you will need to outline your marketing and sales strategy. It should include information on how you plan to generate leads and convert them into customers.

• Operational Plan

This section will need to provide an overview of your business operations. It should include your production process and distribution and fulfillment strategy.

This section will briefly describe what your company offers to customers.

• Target customer

To effectively reach the people we want as customers, you must provide a clear overview of who they are and how your product or service can benefit them. In this section, I’ll go over some questions worth asking yourself when determining who your potential clients may be. 

• Best Practices

Write out your ideal practices for how you’ll deal with qualified leads versus unqualified leads, how quickly you’ll follow up with interested parties, your methods for helping a leader throughout the final steps of the sales process, and how you’ll stay in touch with customers after papers have been signed.

• Financial Plan

In this section, you will need to provide detailed financial information for your business. It should include your income, balance, and cash flow statements. The following will include startup expenses, assets, liabilities, capital, break-even analysis, and loan repayment.

• Exit Strategy

This section will need to provide an overview of your exit strategy. It should include information on how you plan to sell or exit your business in the future.

Individual Agent Real Estate Business Plan

Real estate agents need a business plan like any other entrepreneur. A real estate business plan outlines your goals, strategies, and how you plan on achieving them. It is essential to have a business plan because it will help you stay focused and on track. Real estate is a competitive industry, so you need to be able to stand out from the rest.

A business plan will also be helpful if you ever need to seek funding for your business. Investors and lenders will want to see that you have a well-thought-out plan before they give you money. 

Creating a Real Estate Business Plan is essential if you want to build a successful career in real estate. With our easy-to-use template, you can get started today and be on your way to achieving your long-term goals.

There are many benefits to creating a Real Estate Business Plan, including:

• Clarifying your goals and strategies
• Mapping out a clear road map for your business
• Identifying potential obstacles and solutions
• Helping you stay organized and on track
• Increasing your chances of success

So, if you are considering starting a real estate business, sit down and write a business plan. It will be worth it in the long run!

Real Estate Team Business Plan

Before you start your real estate team, it’s essential to have a business plan in place. It will help you define your goals, map your strategies, and track your progress over time. While there is no one-size-fits-all approach to creating a business plan, certain key elements should be included. Here are a few of the most important things to keep in mind:

• Your team’s mission statement: What sets your team apart from the competition? Why do you exist?
• Your target market: Who are you trying to reach with your services? What needs do they have that you can address?
• Your marketing strategy: How will you get your target market and communicate the benefits of working with your team?
• Your financial goals: How much revenue do you hope to generate? What are your expenses? How will you fund your business?

By thoughtfully developing your real estate team business plan, you’ll increase your chances of success in an increasingly competitive industry.

Real Estate Brokerage Business Plan

A real estate brokerage business plan is a document that outlines the goals, strategies, and financial projections of a real estate brokerage business . It should include an executive summary, market analysis, business model, operational plan, and financial plan. The executive summary should briefly describe the company, its target market, and its competitive advantages. The market analysis should assess the size and growth potential of the target market. 

The business model should describe how the real estate brokerage plans to generate revenue. The operational plan should outline the business’s day-to-day operations, including staffing and marketing initiatives. Finally, the financial plan should provide detailed information on the anticipated costs and revenues of the company. A well-crafted real estate brokerage business plan can be valuable for attracting investors and achieving long-term success.

Remember that your business plan is a living document that should be updated as your company grows and evolves. Regularly reviewing and revising your business plan ensures that your real estate brokerage is always moving in the right direction.

Ready. Set. Plan

Whether you’ve got a ready-to-execute business plan or it’s still being drafted, the most important thing is to start now — and fast.

At its core, a real estate business plan should outline the steps necessary to achieve specific goals, such as increasing sales or expanding into new markets. It should also identify potential obstacles preventing the business from achieving its objectives. By taking the time to create a comprehensive business plan, real estate businesses can increase their chances of weathering storms and coming out on top in the long run.

A business plan puts you on a clear track that makes your business 75% more likely to grow.

By following the above points, you’ll be well on writing a comprehensive Real Estate Business Plan.

<popup-trigger-campaign13><popup-trigger-campaign13>

Published on

( Last updated on

Take your real estate website to the next level with Placester!

Discover new opportunities and save thousands of dollars every year.

Call us at  800-728-8391  for more details or simply leave your phone number, and we’ll reach out to you!

Related posts

Tips on marketing your properties to millennial homebuyers

Maximizing Organic Traffic in 2024: A Guide to Organizing Your Blog Content.

Real estate photography glossary

Let us show you how this works..

No strings attached and no billing information required.