real estate business plan

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Writing a Business Plan

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

Why Write a Business Plan?

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

Quick Takeaways

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

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

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

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.

Premier Agent Toolkit

How to create a real estate agent business plan.

In this article:

Why agents need a real estate business plan

How to write a real estate business plan, free real estate business plan template.

Every agent needs a plan to succeed. A real estate business plan keeps you accountable and on track. An optimal business plan for real estate agents includes firm goals, but it’s also fluid — you’ll want to update your real estate business plan as you grow and the market evolves.

A real estate business plan allows you to stay current with market trends and ahead of the competition. It also helps you track results over time, test lead generation strategies and develop new marketing approaches. Zillow’s Bret Calltharp, a former training leader for a large brokerage group, saw his agents’ business increase by an average of 27% when implementing a business plan for the first time.

Here’s what a good real estate agent business plan will show you:

• Where you are today
• Where you want to be
• How you’ll get there
• How to measure your performance
• When and where to make a course correction

The benefits are clear, and you’re convinced — but where do you start? Here are our recommended steps for creating a business plan for real estate agents:

Write an executive summary

Real estate business planning should always start with a summary of who you are, what services you offer, where you operate and who you serve.

Define your mission statement

Your mission statement is the foundation that supports your entire real estate business plan. It should clearly state your guiding principles and goals.

Create a team management summary

If you’re working with a team, include all members who contribute to your success and how they help. Create a table that shows their roles, responsibilities and time frames for specific tasks.

Know your target client

Determine who your target client is and figure out their story. The more personal you can get, the better you’ll serve your clients.

Who, specifically, is your target client? This could be a first-time home buyer, a home seller, a renter — or a more specific subset like retirees or investors.

What is your target client’s story? Ask your clients specific questions and create a strategy based on their answers. Where do they want to live? What is their annual household income? What do they want from their home?

Outline SMART business goals

Your goals should be specific, measurable, attainable, realistic and timely — in other words, SMART . Once your real estate business goals are SMART, break down each goal into objectives. These should be the specific tasks and activities required to accomplish the goal.

Map out your keys to success

Every real estate agent business plan template should include a table that lists the top three ways to achieve business success — and more importantly, the actions required to fulfill them.

Breakeven analysis

A critical part of real estate business planning is determining your breakeven point. What average commission rate do you need to achieve per unit to break even each month? How many homes must you sell at your average commission rate to break even by your target goal?

Understand your market

It’s crucial to stay on top of your target client’s market. A successful agent will know how the market has behaved in the past few years, as well as where it’s headed (and why).

Segment your market

Let’s look at a target client in a sample real estate business plan.

Suppose the target client is a first-time home buyer. How can we segment that market further to include even more detailed and relevant information? Here are two potential market segments for our first-time home buyer:

• First-time home buyers, single family
• First-time home buyers, multigenerational

Plan for market growth

Map out how much growth you anticipate in your market, and use it to forecast the number of potential clients over the next few years.

Track market trends in your real estate business plan with a table listing possible outcomes on the right and trends on the left.

Track market trends

What market trends do you foresee impacting your business and market segments? Here’s a real estate business plan sample that projects a possible outcome for a rise in multigenerational living:

Develop a SWOT analysis

Every business plan needs a SWOT analysis: strengths, weaknesses, opportunities and threats. Some sample real estate business plan SWOT questions include:

• What sets me apart from my competition?
• What skills need improving?
• Are there any opportunities I’m overlooking?

Recognize your competition

Who’s your primary competition in your target market, and what makes them your primary competition? How will you outperform them?

Create a marketing strategy

Every real estate business plan template needs a marketing strategy table. Highlight your resources and key features, like this sample:

List ways to generate leads

Always keep a list of effective methods to generate leads , and always update the list when new strategies come up. The lead generation list in your real estate development business plan is as simple as this:

Project yearly sales forecast

Use market growth, trends and other real estate marketing strategies to predict your annual sales for the next three years. Here’s an example table from our real estate business plan PDF:

Outline your personnel expenses

Knowing what you’ll spend in a year will help you determine your breakeven point and set reasonable expectations for growth. A simple expense table, like this one from our free real estate business plan, allows you to project your personnel expenses through the next three years:

Measure client experience

Keep track of all the services you offer — and measure how quickly you deliver them. This is crucial in any real estate business planning document, as it helps you build a strong client relationship and track the results over time. Here’s an example for measuring response time:

Use a client relationship management (CRM) tool

There are many CRM tools out there, so it’s easy to find one that fits your needs. Do you want to track analytics? Use it for email marketing? Keep track of property and listing details? Automate your marketing efforts?

As a Zillow Premier Agent , you can use a CRM to manage all your leads and connections, along with their progress through the real estate journey. You can prioritize leads who are actively looking, submitting offers and under contract. Jot down other tools you’re using, especially transaction management tools and their specific functions.

Calculate your business plan performance

The final step in your real estate business plan template is measuring the plan’s performance. Track performance-related questions and how you’ll measure them. Here’s a sample question and measurement example that many agents use for real estate business planning:

Our customizable template helps you create a real estate business plan that outlines what success looks like — for you and your clients — so you can have your best year yet. This sample real estate business plan gives clear examples and allows for complete customization to your personal goals and your real estate market. Jot down your real estate business goals, clarify the state of your finances, profile your target customers and track other data that’s vital to successful real estate business planning.

Best of all — you can get started today! Just download our free real estate business plan template and add your own goals, projections, expenses and data. Don’t forget to update it regularly to accurately track your progress, evolve with the market and stay current with your target client’s needs.

Related Resources

How to Create a Real Estate Marketing Plan

Learn how to write a real estate marketing plan with a free template, and meet your goals.

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Real estate listing flyers are an essential part of promoting your property listings. Here are 3 templates to streamline the process.

Real Estate Postcards (Free Templates)

Learn how to make real estate postcards, and use our real estate postcard templates to get the most return for your investment.

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The Step-by-Step Guide to Starting a Real Estate Business

Kate Evans is a content writer, real estate subject matter expert, and investor based in Charleston, South Carolina. Her career has taken her to Africa, Europe, and around the US, where she’s contributed to numerous print and online business and lifestyle publications. See full bio

• Know Your “Why”
• Make a Plan
• Create Your Brand
• Company Name
• Bonus Brand Building Tips
• Get the Right Tools
• Website Builder
• Marketing Tools
• Email + SMS
• Twitter, TikTok, + Pinterest
• Leave it to the Pros
• Generate Leads
• Cold Calling
• Buying Leads
• Lead Nurturing
• Remember Your “Why”

Many of us finish our real estate education, pass our exam, and think, “Well, now what?” Because, while we might know about homestead exemptions, the measurements of a government survey township, and how many square feet are in an acre, we don’t know how to start a real estate business.

The truth is, real estate agents are so much more than licensed professionals. We are business owners, responsible for all that goes into a successful business, from branding and marketing to sales and budgeting. We’re the CEO, COO, CFO, and CTO—oh, and we have to actually practice real estate. 

The good news is The Close has you covered. We’ve pulled together all of our tools, resources, worksheets, and templates you need to build your real estate business into a step-by-step guide—and you can start right now!

Know Your ‘Why’

Building a business takes tremendous energy and focus, which is why it’s important to first establish why you’re doing it. Maybe you love the thrill of the deal. Maybe you hope to help people and make their dreams come true. Maybe you want to develop your community. Your “why” needs to drive the large (and small) decisions of your business. 

This can be summed up in your mission, vision statements, and values. Before you can tackle the really exciting things, like your branding, first establish what you stand for. Our resource below will walk you through the process and give you helpful examples of each element.

• Goal: Know your “why”
• Task: Establish your mission, vision, and values
• Resource: Create an Inspiring Mission, Vision & Values Statement for Your Real Estate Business

You know what Yogi Berra said about planning: If you don’t know where you’re going, you’ll end up someplace else. Bottom line: Planning is crucial to building your business. 

Let’s start with a good old-fashioned business plan. It’s a classic because it works. We created our business plan template specifically for agents; it walks you through all of the decisions you’ll need to think through. Your business plan is your blueprint—it will help you reduce risk, identify threats and weaknesses early on, exploit opportunities, and fortify strengths. 

Our business plan leads you through these seven steps:

• Telling your story
• Targeting your specific real estate market
• Identifying your target client
• Conducting a SWOT analysis (don’t worry, it’s all in the template)
• Establishing your goals
• Creating a financial plan (remember what I said about budgeting?)
• Monitoring and evaluation

By the end, you’ll have a crucial founding document that will support and inspire you in the hard times and keep you on track in the rocking good times.

• Goal: Lay the foundation of your business
• Task: Create a business plan
• Resource: 7 Steps to Writing a Real Estate Business Plan (+ Worksheet)

If your business plan is already in place and you’re looking for ways to scale, here are some ideas to differentiate yourself in a crowded market. Carve out a specialty for your business with one from our list of 6 red-hot real estate niches .

You don’t have to take our word for it—Steve Forbes puts it clear as day: “Your brand is the single most important investment you can make in your business.” But it’s way more than just a logo. There are many different components to your brand, and we can help you with each step.  

Start with our business launch kit, which is essentially a collegiate-level crash course in branding and marketing.

If you already have a pretty good foundation for your brand and want a tune-up, check out Real Estate Branding: How to Build Your Brand (+ Case Studies) . Here you’ll go through some thought and strategy exercises to put your branding through its paces and compare it to some successful case studies.

• Goal: Create your brand
• Task: Take The Close’s crash course in branding
• Resource: The Business Launch Kit

What are you going to call yourself? What is going to make you stand out in a crowded market and speak to your value proposition? If you already know because you’ve been tossing it around in your head for months or years, excellent! Skip this step . 

If you’re not sure where to start (or worried you didn’t get it quite right yet), we’re here to help. Our Creative Real Estate Company Names article includes a free name generator. Click on over and take it for a spin.

• Goal: Establish a name for your real estate company
• Task: Brainstorm, then narrow down and test out your options
• Resource: Creative Real Estate Company Names (+ Name Generator)

Now that you have a name, it’s time to create some visuals to go with it. You need a logo that is bold and defines exactly who you are and what you’re all about. If you have the graphic design chops to design your own, go for it (VistaCreate and Canva can help)! If not, maybe leave it to the professionals. Check out Fiverr, where you can set your own budget (as low as $5) and hire a designer to create a custom logo for your business.

• Goal: Decide on a visual representation of your business
• Task: Create a logo (or have one whipped up for you by a professional)
• Resource: The Best & Worst Real Estate Logos (+ Pro Design Tips)

A strong slogan can convey a wealth of information in just a handful of words. Slogans can be pithy (Sell It Like Serhant), earnest (Our Passion Is People. What’s Yours?), or highly local (The Power of Deep Roots). But they must reinforce your value proposition. 

Creating a company slogan is not easy—some entire advertising careers are built on one five-word phrase. But we’re here to help with our own real estate company slogan generator. Go ahead and give it a try!

• Goal: Create a slogan for your company
• Resource: Best Real Estate Slogans & Taglines (+ Slogan Generator)

Now that you know your company name, slogan, and have a stunningly visual logo, let’s tell the world who you are. Bios are some of the hardest things to write, even for professional wordsmiths. But consider this as an opportunity to establish why someone should trust you and how your experience, professionalism, and local ties make you the best choice to help sell or buy a home. 

Don’t have the energy to write up your biography after all of this hard work? We’re going to do it for you. Try out our real estate bio generator !

• Goal: Help prospects get to know you before they meet you
• Task: Write your agent bio
• Resource: Write a Killer Real Estate Agent Bio With These Free Tools & Templates

Turn Your Brand Into a Business-generating Machine

Strong branding is all about attracting a customer base that shares your values. Here we will walk you through some of those commonly overlooked branding tools that can help you shine. You’ll need an excellent headshot, for example, and a business card, and social media templates. This article will guide you through some of the most important, but easy-to-check-off tasks in your branding efforts.

• Goal: Translate your brand into marketing materials
• Task: Create crucial secondary branding assets
• Resource: 7 Real Estate Marketing Materials That Will Help You Build a Better Personal Brand

We are fortunate to live in an age with such advanced technology. There are tools out there to help agents in every step of their business. Here at The Close, we review everything from lead generation companies to website builders. Here are some of our favorite providers for new agents in the categories crucial to starting any successful real estate business.

Pick a Solid CRM

A customer relationship management tool (CRM) gets more and more important the more successful you are. It helps you keep track of your contacts, prioritize communication, and strategize effective touchpoints. 

Our top pick for the past three years has been LionDesk. A lightweight, affordable, and easy-to-use CRM, it has everything you need to start organizing and automating your relationships. Even better, you can get set up with LionDesk starting at just $21 per month—less than half what most other CRM companies charge. Give it a test drive with their free 30-day trial. 

If LionDesk doesn’t seem like the right fit, check out our other top picks, or consider one of the excellent free CRMs in our guide. Just remember what they say: The best CRM is the one you’ll use.

• Goal: Organize your contacts and set up regular touchpoints
• Task: Select and get familiar with a CRM
• Resource: The Best Real Estate CRM for 2023 , + The Best Free Real Estate CRMs of 2023

Build a Gorgeous Website

You’re going to need a standout, optimized website to showcase your logo, headshot, slogan, and bio. There are endless possibilities, from building your own with Squarespace to getting a custom real estate-specific site from Placester to including a site within a lead generation machine like Sierra Interactive. 

For inspiration, take a look at our ranking of Real Trends Top 25 Real Estate Agent Websites , which also has advice and tools for creating your own. When you’re ready to start your own site, consult our list of our top website builders, with tips on how to decide which provider is best for you.

• Goal: Expand your web presence and give leads a place to land
• Task: Create your own website
• Resource: Best Real Estate Website Builders of 2023

Get the Word Out

Now it’s time to shout it from the rooftops! Tell everyone in your community that you have arrived and are ready to fulfill all of their real estate needs. Real estate marketing takes many forms and it can feel overwhelming when you’re just starting out. First things first: Take a look at our comprehensive list of marketing ideas and decide which ones are a good match for your business and farm area.

When you’re ready, move over to our article that shows you how to use our template to create an entire marketing plan that’s customized for your business.

• Goal: Market your real estate business
• Task: Create a custom marketing plan
• Resource: The Real Estate Marketing Plan Template for Long-term Growth

Use Marketing Tools to Make Life Easier

If you’re not exactly sure what you need, or if you know what you need but not sure who to work with, we’ve got it all figured out for you. We’ve put together our favorite marketing tools that will really elevate your efforts and make them more efficient. Check out this resource for reviews of tools for community engagement, graphic design, search engine optimization (SEO), email, SMS, video production, and even artificial intelligence (AI).

• Goal: Make your marketing efforts more effective and efficient
• Task: Evaluate which marketing tools you need
• Resource: Real Estate Marketing Tools Every Agent Needs (+ Reviews & Pricing)

Reach the Masses With Email & SMS

A good CRM ( see above ) will help you with your email and texting campaigns. Most already have a library of helpful templates that are appropriate for almost any situation. Announcing your new business? Send out an email introduction. Getting to know your neighbors? Invite them to an open house with a personalized text. Farming a specific area? Become the expert with professional newsletters that outline all of the goings-on.

• Goal: Utilize email and text to skyrocket your marketing
• Task: Incorporate email and SMS into your marketing strategy
• Resource: Easy & Actionable Real Estate Email Marketing Tips

We have plenty of expert tips and templates that will set you up for success:

• Proven Real Estate Newsletter Ideas (+ Tips, Templates & Tools)
• Real Estate Email Templates That Will Generate Business
• Best Real Estate Text Message Scripts for Agents 
• 6-Day New Lead Text Messaging Campaign + Agent Texting Scripts

Conquer Social Media

Social media is a cheap, easy way to market your business, if it’s done correctly. Our advice is to select two, at the most three, social media channels and focus on those.

• Goal: Take advantage of social media to broadcast your message
• Task: Select two or three social media channels and create a social media plan
• Resource: Real Estate Social Networks That Deliver Value for Agents (Ranked) + Social Media Marketing Techniques That Actually Generate Real Estate Leads

If Instagram is a good option for you, that’s great because we’ve got all the templates and tips you need!

• Start with our crash course for real estate agents . It includes templates you can use right out of the gate. 
• Need help understanding what makes for a good post? We’ve dissected it in our Best Real Estate Social Media Templates for Facebook & Instagram .
• Not always sure what to post? Read our Real Estate Instagram Posts That Attract Clients (with Canva Templates) .
• Want some inspiration? Click over to Must-follow Real Estate Instagram Accounts .

Real estate agents have had tremendous success with Facebook over the years. Here are some of our resources on how to make the most of it:

• Awesome Real Estate Facebook Cover Photo Examples to Inspire You (+ Templates)
• How to Set Up a Real Estate Agent Facebook Page to Get More Leads
• How to Create Real Estate Facebook Ads That Actually Generate Leads

Twitter, TikTok & Pinterest

Do Twitter, TikTok, or Pinterest fit your style, brand, and market better? Start here: 

• Funniest Tweets (+ Top Real Estate Twitter Accounts to Follow)
• Real Estate TikTok: 3 Top Agents on How to Get Millions of Likes (+ Leads)
• Powerful Pinterest Real Estate Marketing Ideas From the Pros

…Or Leave It to the Pros

While social media is an excellent marketing tool, it’s not for everyone. If you’re looking for a little help with your social media marketing, or just don’t have the time to invest in it, take a look at Coffee & Contracts. This is a real estate marketing platform just for agents, offering sleek and trendy templates that feature engaging copy.

Talk to five different top-producing agents and they’ll give you five different ways to generate leads they swear are the best. However, we find that the most effective strategies are a mix of different approaches based on your market, budget, resources, and even your personality. Start with Sean Moudry’s customizable template, which takes all of this into account to help you create the perfect lead generation plan for your business. Then check out our 12 tips for getting real estate clients in 2023.

• Goal: Create a strategy for business development and lead generation
• Task: Put together and execute your lead generation plan
• Resource: How to Create a Custom Real Estate Lead Generation Plan (+ Template) + How to Get Clients in Real Estate: Our 12 Best Tips for 2023

Here’s a look at three of the most common lead generation techniques in real estate:

It can be intimidating to pick up the phone and call a stranger. But with our cold calling scripts in hand, you’ll know exactly what you want to say and be ready for any objections they throw your way.

There are some pretty interesting lead generation companies out there, and we’ve done a deep dive review of just about all of them. Start with our guide to the top lead generation companies (plus some to avoid) . 

Then move on to take a look at our top-rated predictive and data analytics companies . They are using some incredibly sophisticated technology to help agents understand their markets and target the right potential clients.

Once you have the lead, then what? Take a look at our guide to lead nurturing and conversion , which will further convince you that a great CRM is crucial to long-term success. It includes tips and scripts to help you make the most of your lead generation efforts. 

Remember Your ‘Why’

Running a real estate business takes patience, dedication, inspiration, and hard work. It can be a lot of fun, but there are definitely days that are long and hard. Most Realtors experience a period of frustration early in their careers. But The Close is here for you. We have exactly the type of strategic advice and fun content you need to get through the hard times. 

And if you feel completely overwhelmed, go back to your “why.” This should be exactly the reason you started your real estate business in the first place—and why you should keep on building.

• Goal: Remember why you started your business
• Task: Lean on The Close community for help, humor, and camaraderie
• Resource: Why So Many Real Estate Agents Fail After Just 2 Years (+ How Not To) + Real Estate Memes Realtors Can’t Stop Sharing

Bringing It All Together

Being a real estate agent is hard work, especially because it requires being good at so many different things. Starting a real estate business takes time and is easier with someone on your side. We’re here to support agents every step of the way. With our combined 40 years of experience, we can offer the advice, the tools, and the resources to get you to where you want to be. We can also give some helpful motivation and a just-for-agents meme or two—or 108 .

Do you have suggestions or advice for someone starting their real estate business? Lessons you learned along the way? Questions? Leave us a comment below.

Kate Evans is a content writer, real estate subject matter expert, and investor based in Charleston, South Carolina. Her career has taken her to Africa, Europe, and around the US, where she’s contributed to numerous print and online business and lifestyle publications.

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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. 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!

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How to Write a Real Estate Business Plan + Example Templates

Elon Glucklich

7 min. read

Updated August 1, 2024

Free Download:  Sample Real Estate Business Plan Template

Owning property – it’s one of the cornerstones of the global economy. And with real estate accounting for roughly $3.7 trillion worldwide, it’s no wonder so many people get into the real estate business.

But the real estate industry is constantly evolving, with new technologies and market trends shaping the way people buy, sell and manage properties. Whether you’re looking to start a home buying and selling business, a commercial real estate investment firm, a property management company or real estate investment trust, you need a well-thought-out business plan that not only outlines the steps to create a comprehensive and effective business structure, but also accounts for real estate’s unique challenges and opportunities.

A real estate business plan shares many similarities with a standard business plan. Here on Bplans, we’ve got a great guide already on how to write a traditional business plan .

In this article, we’ll outline the key points to consider when creating a comprehensive and effective business plan for your real estate business. You can also download our free real estate business plan template .

• Understand licensing requirements

Your business plan will certainly include a company description – this is where you’ll outline your business, including its legal structure, management team and more.

What’s your area of expertise?

Go into detail describing the area or areas of the real estate market you plan to operate in: residential sales, commercial leasing, property management, or more niche markets like luxury real estate or vacation rentals. Your business may want to mix two or more of these segments.

Once you’ve identified your niche, you’ll need to obtain any necessary licenses and permits. This process can be time-consuming and complex, so it’s best to research the requirements ahead of time and create a plan to ensure you’re compliant with all regulations. License and permit requirements vary by state and locality, so be sure to check with your local government to ensure you have all the necessary paperwork filed.

• Get a good team

Depending on the market segment or segments you’re targeting for your real estate business, you’ll need to identify the team members that will help you get your business off the ground.

Brokers, contractors, legal and financial advice

If your plan calls for purchasing properties, you’ll need a team of real estate agents or brokers. Document how they will help you find and acquire real estate, as well as how they can assist with marketing and selling properties once they’re in your portfolio.

You will also want to document how contractors and inspectors will help you assess the condition of properties you are considering purchasing, and provide estimates for repairs or renovations. 

Real estate markets are rife with legal hurdles, so you will want an experienced real estate attorney to help you navigate these issues. Document how you will be able to draft contracts and review lease agreements, and the guidance you will receive on zoning laws and regulations

Finally, an accountant can help you manage your finances, including bookkeeping, taxes, and financial planning. They can also advise you on the best business structure for your company.

• Plan for visibility in a crowded space

With so much competition, it’s essential to develop and document a strategic marketing plan for promoting your real estate services.

Your marketing plan should detail the channels and tactics you’ll deploy to reach your target audience and convert them into clients. Identify the most effective marketing channels to reach your target audience, such as social media, email marketing, search engine optimization (SEO), and content marketing.

Embrace online lead generation

These days, a vast majority of prospective buyers start their search online when looking for properties. So you’ll want to detail how you will optimize your web presence. You can also outline a content marketing plan that will position your company as an expert in the areas your target markets are interested in. These could include topical blog posts, articles, social media posts, videos and other content types to engage potential clients and showcase your expertise. All of these will make it easier for clients to find you.

Document your entire sales process

Of course, there will be plenty of in-person work to do, too.

With long sales lead times, you will also want to describe your sales process and how you will meet sales targets. This should include prospecting methods, lead generation techniques, and follow-up strategies. Establish a client relationship management (CRM) system to manage leads, schedule client consultations, property showings, offer negotiations and contract signings so you can demonstrate that you will be able to manage and transactions effectively.

• Show how you will stay ahead of the market

Demonstrating in your business plan that you have conducted a thorough market analysis is crucial. To conduct an effective market analysis for your business plan, you should investigate the current state of the real estate market in your target area, including property prices, sales volumes and inventory levels. You will also want to examine the competitive landscape in your target area by analyzing other real estate businesses offering similar services.

Understand your customers’ needs

Next, determine the economic conditions and needs of the specific customer segments you want to serve, whether they’re first-time homebuyers, luxury property investors or commercial property renters. The more you understand how your target audience feels about the real estate market in your area, the better you will be able to tailor your services.

You will also need to show your knowledge of external factors like mortgage rates, and local, state and federal government regulations that may impact the real estate market. These factors all contribute to market volatility, so showing how you will manage market shifts and adjust your strategies will better position you to mitigate potential risks by identifying them in your business plan and documenting contingency plans.

• Create a financial plan to secure funds

It’s hard to operate a successful real estate business without access to capital. And you can’t expect to receive any – whether through a bank loan or investment – without a detailed analysis of your financial projections and funding requirements.

Think long-term

A 3-5 year financial forecast will demonstrate that you have a long-term vision for your business. Be sure to base your financials on market research and up-to-date industry data. You may also want to consider different scenarios, like best-case, worst-case and most likely outcomes to account for potential fluctuations in the market.

The forecasts should include: profit and loss statements, which illustrate your business’s revenue, expenses, and net profit or loss over a specific period; cash flow projections, which help you determine your business’s ability to generate positive cash flow; and balance sheets, which provide a snapshot of your business’s financial health, including its assets and liabilities.

Speak the language of investors

If you are writing your business requires specifically to secure outside funding, you should clearly specify the purpose and amount needed in this section. Describe how the funds will be used, whether for purchasing property, hiring staff or launching a marketing campaign. And detail the type of funding you are seeking, whether it’s a loan, equity investment or a combination. Include information on your desired terms, repayment schedule and any collateral you can provide.

Above all, be transparent about your funding needs and show potential investors or lenders how their investment will contribute to your business’s success and generate a return on investment.

• Real estate business plan templates and examples

Because of the intense competition, changing market conditions and startup funding needed, it’s important to write a comprehensive business plan if you’re considering starting a business in the real estate industry. Taking the time to plan out your business before getting started will minimize your risk and maximize your potential for financial success.

To help get you started, download our free home real estate business plan template . You can also download the business plan template in Word form and use it as a foundation for your own business plan.

In addition to these resources, you may want to brush up on how to write specific sections of a traditional business plan. If so, take a look at our step-by-step guide on how to write a business plan .

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Elon is a marketing specialist at Palo Alto Software, working with consultants, accountants, business instructors and others who use LivePlan at scale. He has a bachelor's degree in journalism and an MBA from the University of Oregon.

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

Published: February 21, 2024

Starting a real estate business isn’t for the faint of heart, but there’s hope for 2024. It’s expected that housing prices will soften in certain parts of the country , and despite what we’re hearing, experts are not predicting a housing market crash .

If the real estate world is calling you, don’t be put off. Here’s a down-to-earth look at how to start your own real estate business, plus advice for avoiding mistakes that hijack momentum as you grow.

In this article:

It’s Never Too Late to Start Your Business

How to start a real estate business, how to start in real estate, how to grow your real estate business, common professional pitfalls (and how to avoid them).

For many new real estate agents , real estate is their second, third, or even fourth career.

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

Free Real Estate Planning Template

Use this free template to plan the marketing, sales, and growth for your real estate business.

• Company Overview
• Territory Overview
• Market Penetration Strategy

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

1. Get a CRM.

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

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

Get HubSpot's Free CRM for Your Real Estate Business

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

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

2. Craft your ideal personal plan.

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

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

Consider the following questions:

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

Top tip for defining your personal plan: Think about the real why. Running a successful real estate business is more about the impact on our lives or our families' lives and less about earning cash. Get to the real motivator behind work.

3. Write a real estate business plan.

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

Start with these questions:

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

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

Top tip for writing your business plan: While creating that big-picture plan, make sure you also pay attention to the details. Writing your plan is an opportunity for you to explore ideas and see what’s feasible.

Featured Resource: Free Business Plan Template

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Create and customize your own business website with an easy drag-and-drop website builder.

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6. Prospect consistently.

The most consistent agent always wins, so choose your prospecting system and stick to it.

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

“We focused on the ‘mets’ in our database, and it was amazing the volume of transactions we started doing right out of the gate,” says co-founder Justin Seeby.

For example, he recounts, his team did $2 million worth of sales from one couple he hadn’t talked to in 13 years.

“I mailed them a postcard, because I was afraid to pick up the phone and call them. I didn’t know if they’d know who I was. When they got the postcard, they called me. They ended up spending $1.2 million on a new house and selling an $800,000 house,” Seeby said.

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

Top tip for prospecting: Don’t stop when you get busy.

7. Nurture leads.

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

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

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

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

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

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

8. Have good time management.

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

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

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

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

Top tip for introducing automation: Start with low-risk tasks that you don’t want to handle.

5. Run Facebook ads.

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

Featured Resource: Facebook Ads Checklist

Free Real Estate Marketing Kit

An information-filled guide and easy-to-edit templates to make you a real estate marketing master.

• A free guidebook.
• Social media image templates.
• Editorial calendar templates.

1. Losing momentum.

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

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

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

2. Making social media mistakes.

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

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

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

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

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

3. Trying to do it all alone.

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

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

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

4. Prioritizing paper.

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

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

5. Thinking short-term.

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

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

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

Get Ready to Put in the Work

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

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

Don't forget to share this post!

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• Sample Business Plans
• Real Estate & Rentals

Real Estate Business Plan

People would always need to find places. Be it for offices, homes, and whatnot.

Finding the ideal place irrespective of your needs and requirements is never a cakewalk, to begin with.

You can go through a number of real estates business plan templates before you write your plan.

Industry Overview

The market size, measured by revenue, of the Real Estate Sales and brokerage industry, is $156.2bn in 2021, and the industry is expected to increase by 0.4% in 2021.

Also, the market is changing at a rapid rate and the way people use spaces is changing at a rapid rate too.

Hence, to get on or stay on the higher end of the spectrum you’ll need to upskill and change the way you do business constantly.

But that is a fair trade for the amount of growth and profitability this industry has to offer.

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Things to Consider Before Writing a Real Estate Business Plan

Be specific.

The real estate industry is broad when it comes to work and what you can do. It can either be a source of primary or passive income. At the same time, you might be involved in the industry as an investor, agent, or builder. Decide what you want to do and plan on that basis.

Do your research

The trends of the real estate business change constantly, hence doing your research and updating it constantly is a crucial part of your profession.

As your knowledge and expertise is your greatest asset in this industry, keep expanding it to stay at the top of things.

Build a team of skilled professionals

Having a team you can build your real estate business with is essential.

Select a group of individuals with a diverse set of talents ranging from good communication skills to brilliant analytical skills. Given the dynamics of the real estate business, you never know what skills might come in handy in your business journey.

Be ready for change

As we have constantly discussed, real estate is a dynamic industry. Change is the only constant you’ll have in this business.

Thus, it is important for everything from your plan and way of doing business to be change-friendly.

Sources of Funding for a Real Estate Business

Gaining funds is one of the major reasons for writing a business plan. And here are a few good funding options for your real estate business:

A traditional loan is one of the most basic options for getting funded. You can opt for this if you have a good credit score.

Non-bank mortgage lending

This is a good option if you don’t want to go through a lot of paperwork.

The asset-based mortgage

For this, the lenders look at the rental value of your property and provide a loan on that basis. It is a good option if you don’t want or can’t get a loan based on your personal assets or income.

Above all, it is essential to plan your business to figure out your funding requirements and the right way to fulfill the same.

Write Your Business Plan

If you have enough connections, and the ability to find places for people that have attributes they want and need then a real estate business can be a profitable one for you.

A business plan helps you get funded, explain your ideas to the stakeholders of your business, and make better decisions.

Hence, planning is an important aspect of starting or growing your business.

It has been created using Upmetrics online business plan software that helps you create dynamic and customizable plans anywhere and at any time.

Our sample real estate business plan can help you with writing a well-rounded business plan for your business. It can act as a guide and prevent you from getting stuck in a certain section for too long.

Real Estate Business Plan Outline

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

• Market Opportunity
• Demand for Housing
• Financing & Investment Forecast
• Introducing Kegan
• Business Model
• Short Term Goals
• Long Term Strategies
• Keys to Success
• Contemporary Living for the 21″ Century
• The Complete Package
• Pricing Strategy
• Implementation Strategy – Action Plan
• Target Market Overview
• Housing Shortage Overview in Saudi Arabia
• Housing Shortage Overview in Riyadh
• Housing Prices
• Kegan Home Prices
• Market Positioning & Brand
• Marketing Strategies
• Sales Strategies
• Sales Process
• Competitive Landscape
• Competitive Advantages
• Rashid Bin Said
• Director of Construction
• Member name
• Chief Accountant
• Director of Marketing & Sales
• Other Staff
• Independent Directors
• Solid Balance Sheet
• Impressive Cashflow
• Financial Summary
• Financial Assumptions
• Income Statement (Five-Year Projections)
• Balance Sheet (Five-Year Projections)
• Cash Flow Statement (Five-Year Projection)

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

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

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

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

Download a sample real estate business plan

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

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

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Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Home > Business Plan Templates > 9-Step Real Estate Business Plan Template With Examples

9-Step Real Estate Business Plan Template With Examples

Apr 25, 2024 | Business Plan Templates

Our comprehensive Real Estate business plan template acts as an ideal guide to structuring your own detailed and efficient business plan. With its easy-to-follow sections, it requires you to think critically about all aspects of your real estate business, from the Executive Summary to Market Analysis and Financial Projections.

Each section of this template is designed to clearly present your business’s crucial elements to potential investors, lenders, and other interested parties and can be effortlessly tailored to suit your specific business characteristics.

By following these nine steps, you can create a solid business plan that will impress!

Table of Contents

1. Executive Summary

The executive summary is a concise introduction to your real estate business. It should provide an overview to investors and other readers. Although it’s the first section, you might find it helpful to complete it after all other sections have been detailed.

Introduction

Start by introducing your real estate business. What is its name? What exactly does your company do? Are you a residential, commercial, or investment property firm?

Example: XYZ Properties is a real estate company specialising in acquiring, refurbishing, and renting residential properties in Greater Dublin.

Business Overview

Give a high-level review of your real estate business. Explain your business’s core activities and the properties you deal with.

Example: Our primary business revolves around purchasing underperforming or outdated residential properties, revitalising them, and then marketing them for rent to young professionals and small families.

Mission and Vision Statement

Describe your real estate company’s mission statement and vision statement. This should define your business’s purpose, long-term goals, and strategies.

Example: Our full mission statement is to enhance the local residential market by transforming neglected homes into quality rental properties. Our vision is to contribute to community development and provide affordable, high-quality homes for the local populace.

Geographic Reach

Explain where your real estate business operates, your target areas, and your influence on the local real estate market in these regions.

Example: XYZ Properties currently focuses on the Greater Dublin area, specifically markets that show high rental demand yet lack updated, affordable housing options.

Service Type

Describe the type of property services you offer – buying, selling, renting, renovation, etc.

Example: We primarily purchase, renovate, and rent residential properties. We provide end-to-end property management services for our tenants.

Major Goals and Objectives

Outline your business’s short-term and long-term goals. These very smart goals should be SMART (Specific, Measurable, Achievable, Realistic, and Time-bound) goals.

Example: Our short-term goal is to acquire and refurbish five additional properties within the next fiscal year. In the long term, we aim to expand our operations to cover additional geographical areas within the next five years.

2. Business Description and Value Proposition

This section provides an in-depth understanding of your real estate business, including its structure, operating principles, and how it stands out from the competition.

Nature of the Business

Describe in detail the makeup of your successful real estate business and its key operations. From property sourcing to renovation, leasing, maintenance, and eventual sale, explain your real estate business’s overall process and stages.

Example: XYZ Properties is a full-service real estate investment and property management company. We identify undervalued properties, purchase and renovate them, find suitable tenants and manage the property to provide high-quality living while ensuring a steady return on the investments.

Customer Problems and Solutions

Identify the major challenges that your potential customers face and how your business solves those problems.

Example: Many younger professionals and families struggle to find well-maintained, affordable rental homes in good neighbourhoods. We bridge this gap by providing fully renovated, comfortable homes at a budget-friendly price in appealing locations.

Uniqueness and Competitive Edge

Describe what differentiates your real estate business from competitors. This could be your business model, unmatched customer service, proprietary technology, strategic partnerships, etc.

Example: XYZ Properties distinguishes itself by offering an entirely hassle-free rental experience. Our dedicated property management team handles any maintenance issues promptly, and our online portal lets tenants pay rent, submit service requests, and communicate with our team with just a few clicks.

3. Market Analysis

This part helps to understand the environment in which your real estate business operates. It includes an analysis of the overall industry, target market, and competition.

Industry Description and Outlook

Give an overview of the real estate industry in the area you serve. Discuss aspects like growth trends, factors affecting the industry, opportunities, and challenges.

Example: The Dublin residential rental market has grown steadily over the past few years, with a growing population and demand for quality housing. With limited new constructions and current housing stock ageing, property refurbishment presents a favourable opportunity.

Target Market Analysis

Define your next target client or market in terms of demographics, geographic location, socioeconomic status, etc., and explain why this segment is ideal for your business.

Example: Our primary target market is young professionals and small families from middle-income brackets looking for rental homes. This group values quality living spaces in convenient locations and is willing to pay a premium for renovated well-maintained homes.

Competitive Analysis

Identify your main competitors in your area. Analyse their strategies, strengths, and weaknesses. Show how you’ll position your business to stand out.

Example: While several property management firms and individual landlords operate in our region, their primary focus seems to be maintaining the status quo rather than upgrading properties to cater to tenants’ rising expectations. XYZ Properties stands out by focusing on delivering quality, updated accommodation that appeals to our target market.

4. Business Structure and Management

This section discusses the legal and organisational structure that your real estate business adheres to and presents information about the management team.

Legal Description and Ownership Structure

Provide the legal structure of your real estate business. Are you a sole proprietor, partnership, or corporation? Clarify this and explain why such a structure was chosen.

Example: XYZ Properties is a Private Limited Company (PLC). This structure allows us to operate as an independent legal entity, which attracts investors, limits personal liability, and enhances business credibility.

Management Team

Present details about your key management team members, roles, industry experience, and qualifications.

Example: Our management team includes a CEO with a background in property management, a CFO with extensive financing experience, and a Property Manager who brings years of maintenance expertise. Their collective knowledge provides a comprehensive skill set to manage all aspects of our real estate business effectively.

5. Marketing and Sales Strategy

This part of your business plan needs to articulate how the real estate business anticipates marketing efforts attracting its target market.

Marketing Plan

Describe your real estate marketing strategy. Are you going to use real estate listing websites, social media, local advertising, network events, or perhaps a combination of the above? Explain each channel and its importance.

Example: We use a mix of online and offline marketing strategies. Our properties are listed on major real estate websites, and we leverage social media to showcase our refurbished units. We also have property listings and actively network with local businesses and community events to promote our quality rental homes.

Sales Strategy

Explain your sales strategy. This would include how you negotiate contracts, pricing strategy, sales forecast, etc.

Example: Our sales strategy is to price our rental units competitively, offering top-of-the-market amenities to justify the pricing. We leverage property viewings to highlight the benefits of our homes, focusing on the quality of refurbishments, location, and our dedicated property management services.

Growth Strategy

Discuss any plans to expand your real estate business – for instance, moving to new locations, adding new property types, or scaling your business model.

Example: In the long term, we aim to expand our portfolio to include commercial property and possibly venture into real estate development. In the medium term, our growth strategy involves expanding to newer suburbs in the Dublin region.

6. Operations

This part outlines the operational aspects of your real estate business, including location, facilities, equipment, and technology needs.

Geographic Location

Provide details on where your own real estate agent or business is based and where it operates. Discuss why these locations have been chosen.

Example: XYZ Properties is headquartered in downtown Dublin and operates across the Greater Dublin area. This region has been strategically chosen for its high rental demand and robust transportation network.

Facilities and Equipment

If applicable, describe the facilities needed to support your business, including office space, renovation equipment, etc.

Example: Our business operates from a compact office in downtown Dublin, where our administrative functions originate. All property renovation is performed with high-quality equipment and materials to ensure the delivery of superior residential properties.

Technology Needs

Describe the technology your real estate business uses. This could include software for property management, digital marketing tools, and customer relationship management (CRM) software.

Example: XYZ Properties uses cutting-edge property management software that streamlines most functions, such as rent collection, tenant communication, and maintenance requests. We also employ digital marketing tools to promote our business and properties.

7. Implementation Strategy

In this section, outline how your real estate business plan will implement your business strategies and define milestones and timelines based on your objectives and goals.

Role and Responsibilities of Team Members

Detail the roles and responsibilities of each team member. This should relate to the operational strategies you outlined earlier.

Example: Our CEO oversees strategic decision-making and investment sourcing. Our CFO is responsible for financial management and budgeting. The Property Manager handles all operational aspects related to properties, from overseeing renovations to interacting with tenants and addressing their needs.

Milestones and Timelines

Outline your business plan into a series of measurable and achievable milestones. Provide a timeline for when each milestone will be achieved. This gives your team a roadmap to follow and helps investors understand your approach.

Example: The immediate milestone is acquiring and refurbishing three additional properties within six months. We aim to lease those properties within a subsequent three-month period. Our longer-term milestones are focused on portfolio expansion and diversification, measured by adding an average of six new properties per year for the next five years.

8. Financial Plan and Projections

This section outlines your financial goals, sources of revenue, and detailed financial projections.

Start-up/Financial Summary

Describe the financial overview of your company. If it’s an existing business, provide your actual financial data, including revenue, costs, a cash flow statement, etc. For start-ups, describe the initial capital involved and how expenses would be financed.

Example: XYZ Properties, being a well-established company, operates on its steady revenues generated through rentals. Our revenues cover property acquisition, renovation costs, and operating expenses. A reserve fund is maintained for unexpected contingencies.

Revenue and Pricing Model

Discuss your source of revenue and your pricing strategy. In real estate, this typically involves property rent or sale prices, management or service fees, etc.

Example: Our primary revenue stream is rental income derived from our properties. We set rent prices based on the quality of the property, location, and market conditions while ensuring a healthy return on our investments.

Forecasted Profit and Loss

Provide a profit and loss statement forecast. This should include your average sales price forecast, expected expenses, and profits for at least three years into the future.

Example: Based on our current property portfolio and expansion plans, we project an annual rental income growth of 7% for the next three years. After accounting for all operating expenses and necessary investments in new properties, we expect a net profit margin of about 15% consistently over this time frame.

Projected Cash Flow

Offer your cash flow projection. This shows that your business is solvent and can successfully pay its debts and operational expenses.

Example: Our cash flow projections display the influx of income from rentals and the outlay for property acquisitions, renovations, maintenance, and administrative costs. We foresee a consistent positive cash flow, keeping our business financially healthy.

Project Financial Assumptions

Detail any assumptions made while creating your financial outlook.

Example: Our projections presume a steady rental demand and property market stability. We’ve also assumed steady cost escalations of around 3% per annum for property upkeep and other variable expenses. Our major capital expenses are assumed to be funded through internal accruals and bank loans.

9. Appendices

This section should include any additional documents or support for your business plan.

Organisational Chart

Attach a chart showing your real estate business’s organisational structure. This will help investors understand the hierarchy and functions within your company.

Example: Our organisational chart clearly represents the hierarchical construction of XYZ Properties. It indicates the roles of the CEO, CFO, Property Manager, and support staff, providing our investors with a clear view of our company structure.

Resume of Key Team Members

Attach the resumes of your key team members to give investors a better understanding of their skills, experience, and how they contribute to the success of your business.

Example: Attached are the profiles of our CEO, who has over 15 years of real estate investment and management experience, and our CFO and Property Manager, who have combined experience of 20 years in their respective fields.

Detailed Budget

Include a detailed account of your budget, showing everything from initial investment to projected income versus expenses.

Example: Attached is a detailed budget document that outlines our projected revenues and expenses for the next fiscal year, including acquisition costs, renovation expenses, operational costs, and anticipated rental income.

Market Research

Provide some market research to validate your business assumptions.

Example: Enclosed is a recent real estate market report for the Greater Dublin area. It highlights key trends in the rental market. It demonstrates the significant demand for quality rental homes among the young professionals and family demographic.

Which Real Estate Business Is Most Profitable?

The profitability of a real estate business largely depends on factors such as location, market conditions, investment strategies, and operational proficiency. That being said, Real Estate Investment Trusts (REITs) are often highly profitable, primarily because they allow investors to buy shares in commercial real estate portfolios that generate income. Rental property businesses, especially in high-demand areas, can offer consistent cash flow as well.

Flipping properties – buying homes, renovating them, and quickly reselling them for a profit – can be lucrative, too. However, it involves higher risk and depends on market trends. Commercial real estate, dealing with properties like offices, retail space, or warehouses , often fetches substantial returns but requires significant capital.

Ultimately, the key lies in understanding the market, assessing risk effectively, and managing investments wisely to ensure profitability in any real estate business.

Get Started In Real Estate

Remember that a high-quality, well-researched real estate business plan could be instrumental in your real estate business’s success and growth. It will guide your decisions, attract investors, and help keep your real estate business on the right track towards achieving its goals.

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Building a Solid Foundation: How to Create a Real Estate Business Plan That Works

A killer real estate business plan isn't just about setting a goal to hit 1 million in sales next year. (It would be a lot easier if it were!) 

A truly great real estate business plan defines exactly what drives your business, where you're headed, and how you'll navigate the market's unpredictable currents. It should be a razor-sharp action plan to scale your real estate empire. 

So, how do you craft this master blueprint without getting bogged down in the details? 

If you’re ready to join the cast of Million Dollar Listings—or if you just want to grow your modest real estate business—we can help.   

We’re going to break down how to create an actionable real estate business plan in just six steps. Your future self, with a thriving real estate portfolio, will thank you. 

What Should a Real Estate Business Plan Include?

A real estate business plan is a comprehensive document designed to help you navigate the ups and downs of the real estate industry and plan for long-term growth. 

TL:DR: A great business plan serves as a complete roadmap to help you get from where you are now to where you want to be. 

So, what should your real estate business plan include? The best plans include these eight sections: 

• Executive Summary: A concise introduction to your real estate venture. Highlight your primary goals, the niche you're targeting, and your unique value proposition in the real estate market.
• Business Description: Discuss the scope of your real estate operations—whether you're focusing on residential sales, commercial properties, rentals, or a mix. Also, mention the regions or neighborhoods you're targeting.
• Market Analysis: Delve into housing trends, regional property demand, and average property values in your selected areas. Study growth patterns and forecast potential shifts in the market.
• Marketing and Sales Strategies: Explain how you'll attract listings and buyers. This might include leveraging MLS, hosting open houses, using digital marketing tactics, or networking at community events.
• Service Offerings: Detail the range of services you plan to offer. This could include buying/selling, property management, consultation, or even staging homes for sale.
• Organizational Structure and Management: As a solo realtor, this might be about your role and responsibilities. If you have or plan to have a team or build a brokerage, describe team member roles, responsibilities, and expertise.
• Financial Projections and Strategy: Outline anticipated earnings from property sales or rentals, operational expenses, and commissions. Factor in marketing costs, licensing fees, and other industry-specific expenses.
• Growth Plan: Since real estate is as much about scaling and expansion as it is about individual sales, describe how you plan to grow—by expanding into new areas and niches, or by adding more agents to your team.

Keep in mind—these sections are suggested, not required. If some of these sections don’t make sense for your business, feel free to drop them. Maybe you want to add something else? If you’re not sure where the heck to start—that’s where this list comes in handy. 

Why Do I Need a Real Estate Business Plan?

Honestly—you don’t have to have a business plan. If you’re feeling good about your business and happy with your growth, feel free to click away. But, if you’re not closing as many deals as you’d like or if you’re just not feeling great about your business’s direction, you might want to stick around. 

In addition to increasing your sales, an effective business plan can help you: 

• Gain a Competitive Advantage : The world is full of real estate professionals. To succeed in this industry, you need an edge. A real estate business plan gives you an advantage in the market because so few competitors will create one. You'll know the exact steps to take to grow your business. Case in point: a well-crafted business plan can boost your chances of success by 12 percent .
• Mitigate Risk: Every new business venture is a risky proposition. Back in 1994, nobody thought Jeff Bezos could sell books online. Now, Amazon is one of the biggest companies in the world, and Mr. Bezos has a cool net worth in the $150 billion range. While your real estate business plan might not help you hit the billion-dollar range, it will help you mitigate risk by helping you identify potential threats and weaknesses.  
• Gain a Deeper Understanding of Analytics: Drowning in data? A great business plan will outline your goals and campaigns, and help you track the metrics that really matter. You can look at your plan in a year and assess your progress toward your goals, and adjust your approach accordingly. This will help you eliminate poor tactics or destructive behaviors and double down on what works for your business.

A business real estate plan also gives you something to celebrate. When you hit the milestones in your plan, reward yourself with a fancy dinner or pop open a bottle of champagne. Treat yo’self. Then get back to selling! 

6 Steps to Create an Effective Real Estate Business Plan Fast 

Now you know what your real estate business plan should include and why they matter. Cool. Now it's time to actually create that killer plan that will help your business grow. Ready? Follow these step-by-step instructions to create a proven plan of action you can use to grow your business.

1. Start With Your Story

Who are you as a real estate professional? Are you a master of landing the right deal? Love helping families find their forever home? 

All good business plans start with a story that explains who the individual or company in question is, what they do, and the business goals they want to achieve.

To accomplish this, make sure your business plan includes:

• An executive summary: A sentence or two that summarizes what your business does.

Example: "I sell homes to middle-income buyers in the greater Denver area."

• Your mission statement: A few sentences that explain why you do what you do.

Example: "At Smith Real Estate Group, we strive to provide our clients with amazing experiences they'll remember for the rest of their lives. Buying a home is a monumental responsibility. Our goal is to make the process simple, fun, and stress-free for our clients so they're delighted with their purchases."

• Your vision for your business: A couple of sentences that illustrate what the world will look like once you've achieved your mission. 

Example: "Eventually, I want to be the most trusted name in Boise real estate, effectively serving a range of clients who come to me to get the highest possible price for their homes."

• The SMART goals you want to achieve: The individual objectives you'll work to accomplish, i.e., "Sell 15 homes next year," or "Make $150,000 annual salary." Remember, the best goals are SMART, which stands for specific, measurable, achievable, relevant, and time-bound. 

Example: "I'll start making $150k a year (or more) within 36 months. To accomplish this, I'll invest in new marketing techniques to promote my services so I can sell 15+ homes every year."

2. Research Your Target Market

Which area of the real estate market do you specialize in? Do you sell high end luxury condos? Help businesses find the right place to expand? Maybe you’re all about helping folks find tiny homes. 

To answer this question, I suggest a fair bit of research—especially if you're brand new and don't have an established client base. Look for sections of the market that are growing and ones that are slowing down.

It's important to look at data for the location you’re serving . Nation-wide trends are useful to a point. But you really need to know what's happening in your corner of the world.

Also, research your city's other agents, brokerages, etc., as you'll compete with them for potential clients. The more you know about them, the easier it will be to differentiate yourself and achieve your short and long-term goals in the real estate industry.

3. Identify Your Ideal Clientele

Now it's time to zero in on the specific people you sell to.

There are plenty of options. You could be a condo specialist and only engage new leads who want to buy condos in your area. Or focus on real estate listings for new home buyers. Or work in the top end of the market and help wealthy individuals settle into their second homes. You do you. 

The specific demographic you choose to serve should depend on the local market, your unique skill set, and your passions. Find a balance between these three things.

When you know your ideal clientele, take a moment to define buyer personas .

Not familiar with the term? Don’t worry—it's not as weird as it sounds. A buyer persona is a fictional person you invent to represent your real-world target market. Feel free to get weird with it—your persona could be Fred the Family Man, or Suzy the Soup Maker. Just be sure to include personal details, such as goals and pain points to make it useful. 

While it may seem silly, a buyer persona keeps you focused on your ideal clientele so you can ensure your marketing efforts always match the people who want to help. 

4. Perform a SWOT Analysis

A SWOT analysis helps you pinpoint your strengths and weaknesses and find the opportunities and threats in your chosen real estate market. Think of it like a battle plan to help you conquer your real estate market. Here's a quick example:

• Strengths: Maybe you have amazing people skills, so you host open houses for your clients on a regular basis. This helps you meet potential buyers and sell clients' homes. It also acts as a terrific lead generation strategy . Or, maybe you’re really, really good at staging older homes. 
• Weaknesses: Maybe you hate social media, so you never use platforms like Facebook and Instagram—even though other agents use them to close deals . This would be a weakness, but it doesn’t mean you need to change things. Instead, acknowledge it and adjust your strategy accordingly. 
• Opportunities: If most of the real estate professionals in your town focus on low- to mid-priced real estate listings, you could target the small collection of luxury buyers in the area.
• Threats: Are there a ton of other real estate agents in your area? Maybe a nationwide brokerage is opening a new office and threatening to take your knees out with a bat. (Who knew real estate could be so brutal!) The point is: being aware of threats helps you target your services effectively so you can become a real player in the game. 

5. Set a Clear Marketing Strategy

You might run the best real estate brokerage in the United States. But if nobody knows about your real estate team's supreme skill set, you’re not likely to make many sales. Which won’t be an issue if you’re running a mob front—but if you actually want to make a profit, marketing is crucial. 

Fortunately, you've defined your target market, ideal clientele, and personal strengths and weaknesses. So, building an effective marketing strategy should be easy. 

Think about your target audience: how can you reach these people? Social media is probably your best bet if you serve young, first-time homebuyers. If you serve an older, more affluent crowd, in-person meetups and cold-calling techniques might be a good option.

Consider your competitors, too. What channels do they use to connect with new leads? Use another approach to differentiate your services better.

Finally, take a hard look at your abilities. Just because a marketing plan works for one person or company doesn't mean it will work for yours. Since you're building your business, you need to assess your strengths and weaknesses. This will help you implement strategies that suit your skills and disposition.  

6. Make a Financial Plan

Yes, we gotta talk about money. Adding financial details to your real estate business plan gives you a strong starting point to drive growth. 

How much will you spend on licensing, lead generation, and a real estate CRM ? Remember to budget for everyday expenses while working, like gasoline for your car and meals while traveling. (Just no two martini lunches!) 

You should also include the amount of money you want to make after expenses and taxes and the number of deals you'll need to close to make the numbers work together.

Most people shy away from their finances. Don’t make this mistake. You need to know what your operating expenses are to know what your cash flow is. If you don't know that, you won't know if you're on track to reach your short-term or long-term goals.

One more thing: make sure your financial plan is realistic . Dreaming of million-dollar closings might feel nice, but those numbers won't help you. Do your research and input proper cost estimates. 

3 Tips to Create a Real Estate Business Plan That’s Actually Useful 

BOOM! Now, you know how to create a business plan for your real estate business. Go you. But to make sure your plan is top-notch, keep these three best practices in mind:

KISS: Keep it Super Simple

It’s easy to get lost in the weeds and wind up overwhelmed. Don't overcomplicate the process.

Your real estate business plan doesn't need to be professionally designed unless it’s being shared with business partners or investors. You can write it in Word on your laptop computer. Or scribble it on a napkin while you sip a cocktail at the bar. Whatever feels good to you. 

The most important thing is that you actually create a plan for your real estate business . The way it looks is less crucial. Don't get caught up in the details. 

Differentiate Yourself

What makes you special? No, not just in the “My mom says I'm special!” way. Like, what really makes you stand out from the other real estate agents and brokers in your local area?

Ask yourself questions like " What can I do better than everybody else?", “Why would clients want to work with me over another agent?” or "What am I willing to do that my competitors aren't?"

Did you come up with a few things? Good, now add them to your real estate business plan.

Being average is boring—so figure out where you stand out. Then, infuse it into every aspect of your business, from your website to how you engage with clients. That way, people know what sets you apart.

Revisit Your Plan Regularly

One more thing: your real estate business plan should be a living document. In other words, you should revisit it regularly to make sure it's actually benefiting your business.

Did you choose the right market? Are you serving the right clientele? Is your marketing plan actually working? Assess your business quarterly to see what's working and what isn't. Then use the takeaways to adjust your approach. That way, you can “always be closing” more deals. 

Pro tip: when starting out, use a business plan template . This gives you a starting point and makes it easy to edit your plans at any point. 

Level Up Your Real Estate Business 

If you want to build a successful real estate business, you need a plan. Luckily, you’ve already got one. 

Once you create your plan, you'll have a clear vision you can implement systematically to grow your business faster.  

Know what else will help you succeed in this industry? A solid CRM software with proven contact management, cold calling, email marketing, and sales reporting features.

Sound good? Give Close a try. We make it super easy to track leads, follow up with prospects, generate referrals, and turbocharge your real estate business.

Sign up for a free 14-day trial today to experience the power of Close!

START YOUR FREE 14-DAY TRIAL→

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BUSINESS STRATEGIES

How to create a real estate business plan

• Nirit Braun
• 12 min read

A real estate business plan is a strategic document that outlines the objectives, strategies and tactics a person or a team will employ when starting a business in the real estate industry. This comprehensive and clear plan not only defines the business' mission, vision and goals but also delineates the steps necessary to achieve them.

When starting a business, especially in a dynamic and competitive sector like real estate, a well-crafted business plan becomes an indispensable tool for success. Beyond helping business in their first steps to understanding how to start a service business , a business plan provides a structured framework that helps entrepreneurs make informed decisions, allocate resources effectively and stay focused on their objectives. By articulating the business' value proposition, rental business ideas , target market, competitive landscape and revenue streams, the plan offers a holistic understanding of the venture's potential and challenges.

Looking to kick off your real estate business? Create a business website today with Wix. These real estate agent websites can help you get started.

In this section, we'll break down the key components involved in crafting a successful real estate business plan in six steps.

Executive summary

Company and domain name

Market analysis and research

Operations plan

Marketing and advertising plan

Financial plan

01. Executive summary

An executive summary is a concise overview of your entire real estate business plan. It serves as a snapshot that captures the essence of your venture, highlighting its key components and objectives. A well-crafted executive summary should provide a clear understanding of your real estate business' purpose, market opportunity, strategies and potential for success. It's typically the first section of the business plan and should be written after the rest of the plan has been completed.

To write a clear executive summary for a real estate business, follow these steps:

Start with a brief introduction: Describe your business’ mission, vision and the services you intend to offer. Highlight what sets your business apart in the competitive real estate landscape.

Summarize the market demand: Explain what kind of opportunity you aim to address with this type of business . Mention key trends in the real estate industry that support the viability of your venture.

Identify your target audience: Whether it's first-time homebuyers, property investors or commercial clients, briefly describe their demographics and needs.

State the unique value you offer to clients: This could be exceptional customer service, a specialized focus or innovative technology solutions.

Outline your key real estate marketing strategies : Highlight how you plan to reach and engage your target market.

Provide a high-level overview of your projected financials: Include revenue projections, startup costs and funding requirements.

Introduce the key members of your team: Highlight how their skills contribute to the success of the real estate business.

Example of an executive summary for a real estate business: “ABC Realty is a dynamic real estate agency that specializes in helping first-time homebuyers navigate the complex property market. With a strong commitment to providing personalized guidance and support, we aim to simplify the buying process and empower our clients to make informed decisions. Our target market consists of young professionals and families looking for their dream homes in urban areas. Leveraging the latest technology and data analytics, we offer a seamless search experience that matches buyers with their ideal properties. Our marketing strategy involves a mix of social media engagement, local partnerships and educational workshops to establish our brand as a trusted resource in the real estate industry. Backed by a team of experienced agents and industry professionals, we are well-positioned to make homeownership dreams a reality while achieving sustainable growth and profitability. Our projected financials indicate a steady upward trajectory, with a goal of reaching profitability within the first two years.”

02. Company and domain name

Knowing how to name a business is crucial for a real estate venture and a key step before you register your business . It shapes your brand identity, influences client perceptions and establishes trust.

Additionally, selecting a suitable domain name for your real estate website is crucial for online visibility and accessibility. Your online presence should be in top form taking into account that 97% of homebuyers search for their homes online. Here's how to approach these decisions:

Company name

Should reflect your business' values and services

Keep it concise, memorable and easy to spell

Check for trademark conflicts to avoid legal issues

Consider using the free business name generator from Wix for inspiration

Be inspired by these real estate business name lists.

Domain name

Align it closely with your company name if possible

Choose a domain extension (.com, .net, .org) that's commonly recognized

Keep it short and free of complex words or hyphens

Ensure it's easy to pronounce and type

Learn more: How to make a website

03. Market analysis and research

Incorporating comprehensive market analysis and research into your business plan is essential for understanding the competitive landscape and formulating an effective business strategy. Conduct market research to identify trends, competitors and potential gaps in the market. Analyze your target audience's preferences, behaviors and pain points to tailor your services and marketing efforts accordingly.

Understanding the market dynamics allows you to position your real estate business strategically and offer unique value propositions that resonate with clients.

04. Operations plan

An operations plan outlines the logistical aspects of your real estate business, ensuring its smooth day-to-day functioning. This section should cover:

The physical location of your business office or headquarters

The size and layout of your office space

The equipment and technology required to run your real estate business

The roles, responsibilities and qualifications of your team members

05. Marketing and advertising plan

In the competitive real estate industry, a robust marketing and advertising plan is vital for attracting clients and establishing your brand presence. Your plan should encompass various marketing strategies , including:

Social media marketing, search engine optimization (SEO) and online advertising

Creating valuable content like blog posts, videos and guides

Establishing partnerships with local businesses and industry associations

Hosting events and workshops that educate clients about real estate trends

You’ll also need to develop a suite of brand assets to use in your marketing efforts, starting with a company logo and real estate slogan . You can use a free logo maker or real estate logo maker to get a professional design in minutes. Learn how to make a real estate logo that suits your brand.

06. Financial plan

The average cost to start a real estate brokerage can range from $10,000 to $200,000 , so odds are you will need to secure financing. The financial plan outlines your real estate business' financial projections, funding requirements and path to profitability. It should include all your startup costs including starting an LLC , licensing, office setup, marketing materials and technology needs.

Next, estimate income based on property sales, commissions and other revenue sources. Alongside this outline ongoing operational costs, such as rent, salaries, marketing and utilities. Then take the time to specify how your business will be funded initially, whether through personal savings, loans or investor contributions. Finally, predict when your real estate business is expected to reach profitability based on your revenue and expense projections. You can include within this the exact ways to make money as a real estate agent .

Real estate business plan examples

Here are two templates for hypothetical real estate businesses, each including the main parts discussed in our how-to steps.

Real estate business plan template 1: ABC Realty

ABC Realty is a forward-thinking real estate brokerage focused on serving residential clients in urban areas. With a mission to simplify the home buying process for first-time buyers, we aim to provide personalized guidance and a seamless search experience. Our market research indicates a rising demand for affordable housing solutions and our team's expertise positions us well to address this need. Leveraging digital platforms and local partnerships, we're dedicated to establishing a brand known for trust, transparency and professionalism. Our financial projections show steady growth, with profitability projected within 18 months.

Company name: UrbanNest Realty

Domain name: www.urbannestrealty.com

Market analysis: Our research reveals a growing trend of Millennials seeking starter homes in urban areas.

Competitive landscape: Competitor analysis highlights the need for tailored customer service and simplified processes. We will tap into this by offering comprehensive support and leveraging technology to streamline transactions.

Location: A prime urban location with easy accessibility.

Premises: A modern office space designed for client consultations and agent collaboration.

Equipment: State-of-the-art computers, customer relationship management (CRM) software and virtual tour technology.

Staffing: Agents, property management experts and administrative staff.

Digital marketing: Social media campaigns, targeted online ads and search engine optimization.

Content marketing: Regular blog posts on home-buying tips, neighborhood insights and market trends.

Networking: Partnerships with local lenders, moving companies and interior designers to provide added value.

Events and workshops: Monthly homebuyer seminars and virtual property tours.

Startup costs: $60,000 (licenses, office setup, marketing materials)

Revenue projections (first year): $300,000

Revenue projections (section year): $500,000

Expenses: Monthly rent, salaries, marketing expenses and administrative costs

Funding: Personal savings and a small business loan

Profitability timeline: Projected within 18 months

Real estate business plan template 2: Empire Investments

Empire Investments is a dynamic real estate investment firm specializing in commercial properties. With an aim to provide high-value investment opportunities, we focus on acquiring and enhancing properties with substantial growth potential. Our strategy involves leveraging market trends, identifying undervalued assets and optimizing their value through strategic renovations and management. Our team of seasoned professionals ensures a comprehensive approach to portfolio management, driving investor returns. Our financial outlook is promising, with steady revenue growth projected over the next five years.

Company name: Empire Investments

Domain name: www.empireinvestmentsre.com

Market analysis: Our research highlights an increasing demand for mixed-use properties in urban areas.

Competitive landscape: Competitor analysis reveals a gap in the market for value-add properties. We'll focus on acquiring underperforming assets with the potential for repositioning and strong cash flow.

Location: Central business district for easy access to commercial properties.

Premises: A professional office space for meetings and deal analysis.

Equipment: Advanced financial analysis tools and property management software.

Staffing: Investment analysts, property managers, legal experts and administrative support.

Networking: Building relationships with commercial brokers, property managers and industry experts.

Content marketing: Thought leadership articles, market reports and investment guides.

Webinars and seminars: Monthly webinars on commercial real estate investment strategies.

Direct marketing: Targeted outreach to potential investors based on investment preferences.

Startup costs: $150,000 (licenses, office setup, due diligence expenses)

Revenue projections (first year): $1,000,000

Revenue projections (second year): $2,000,000

Expenses: Office overhead, salaries, marketing campaigns and property management costs

Funding: Combination of private equity, investor capital and personal investments

Profitability timeline: Positive cash flow projected within the first year, substantial returns expected over five years

Top benefits of writing a real estate business plan

Starting a business in real estate requires careful planning and a well-structured business plan offers a multitude of benefits that contribute to the venture's success. A business plan helps you in the following ways:

Attracting investors and funding: A well-developed business plan serves as a persuasive tool to attract potential investors and secure funding. It outlines the business's unique value proposition, market opportunities and growth strategies. By clearly articulating the revenue model and projected financials, entrepreneurs demonstrate their preparedness and potential returns, increasing the likelihood of obtaining an investment and raising money for a business .

Resource assessment: Writing a business plan helps entrepreneurs understand the resources, supplies and staff required to launch and operate the real estate business. This comprehensive assessment ensures that nothing is overlooked, from property acquisition and renovation costs to marketing expenses and administrative needs. By listing these requirements, entrepreneurs can plan for adequate funding and efficient resource allocation.

Strategic direction: A business plan outlines the business's short-term and long-term goals, providing a strategic direction for the real estate business. Entrepreneurs can define their target market, geographic focus and property types, enabling them to make informed decisions aligned with their objectives. This clarity prevents aimless pursuits and helps maintain focus on strategies that align with the business' vision.

Risk mitigation: A well-structured business plan anticipates potential challenges and outlines strategies to mitigate risks. Entrepreneurs can identify industry-specific challenges, such as market fluctuations or regulatory hurdles and devise contingency plans. By acknowledging these risks upfront, entrepreneurs can proactively address them and adapt their strategies as needed.

Operational efficiency: The business plan details the organizational structure, roles and responsibilities required to run the real estate business smoothly. Defining these elements helps entrepreneurs allocate tasks effectively and ensure that the right people are in place to execute the business strategies. This clarity enhances operational efficiency and minimizes the potential for confusion or overlaps.

Measurable progress: A business plan sets clear milestones and metrics to measure the real estate business' progress. Entrepreneurs can track key performance indicators (KPIs) against the projected goals, enabling them to assess their success and identify areas for improvement.

Real estate business plan FAQ

What is a business plan in real estate.

A real estate business plan is a document that outlines your goals and strategies for starting or growing a real estate business. It should include a market analysis, a business model, an operational plan and a financial plan.

Which real estate business is most profitable?

Can you become a millionaire from owning real estate, is it a good idea to start a real estate business, how do i organize my real estate business, want to create another type of business plan.

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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.

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• Lead Generation

Creating a 2023 real estate business plan

• February 1, 2023 | 3 minutes

“No plan survives first contact with the enemy.”

The famous quote is beloved by business planning cynics. And it’s true – but it’s irrelevant. Consider, for example a football coach – is he to ignore strategy and just let the team make it up as they go along? Certainly, there’s an opposing team with its own strategy to deploy. But without planning, both sides are just running around aimlessly, just hoping the ball will land close by.  So, to toss in another quote, “plans are nothing; planning is everything.” 

Identify the enemies to your growth

As you head into 2023, what’s your ‘enemy’?  We would suggest that among the biggest enemies are uncertainty, global disruption, fiscal chaos, and natural disasters. A sound business plan recognizes elements like these – things we can’t influence – but focuses on what we can measure and achieve.

The Road map – get it before you need it

A Business Plan is a road map for your business. When you drive on a freeway, a map might seem superfluous. Now imagine it’s dark, and you take the wrong exit, finding yourself on a winding road with little lighting.  Now you need that road map, but it’s too late.  Similarly, a real estate agent may start the year off with a couple of closings and feel that 2023 is going to be a good year. No need to do the planning. Just ‘roll with it.’  Now let’s add to some of those ‘enemies’ identified above; a marketing campaign that failed to deliver; a series of natural occurrences that impact your market – forest fires, flooding, subsidence. Without planning – financial, business continuity, personnel – these ‘perfect storms’ could fatally impact your real estate business.

Similarly, when opportunities for growth arise, a good plan will allow you the flexibility to take advantage of them. A partnership with a real estate agent in an adjacent area or with a complementary skillset; a new subdivision that requires a new level of service; an exclusive property needing significant investment in video, online and face-to-face marketing.  With a business plan you’re in a stronger negotiating and development position.

If you can’t measure it….

Economist W. Edwards Deming (or was it guru Peter Drucker? Nobody’s sure) said, “If you can’t measure it, you can’t manage it.”  Nowhere is this more important than that in real estate business planning. A well-developed and realistic plan should form a strong foundation upon which to build a flexible, responsive, resilient and profitable business.  The goals and objectives you incorporate into the plan must be realistic, attainable, and measurable. If you’re on a team, they should additionally be communicable. 

These goals and objectives should touch every aspect of your business. For example:

• Listing appointments 
• Listings secured
• Average days-on-market
• New buyers contacted
• New buyer contracts
• Closings, both listing and buying
• Events attended/planned
• Additions to database
• Personal development, health, nutrition goals
• Gross and net income
• Anticipated expenses: office, marketing, recruitment

The Plan: Be honest

There are many templates for building out a plan: NAR has a checklist with the 7 components of a business, starting with a detailed, honest analysis of your business strengths, weaknesses, opportunities and threats, known as a SWOT analysis.  

The most important feature of the plan is that you are brutally honest with the inputs. If, for example, real estate is a part-time business for you, either by design or because your market is seasonal, recognize that this will affect all your metrics, top and bottom lines, and your expected outcomes.  If, alternatively, your market is growing rapidly and you will need additional help to manage it and maintain an expected level of service, recognize that and the associated costs involved in recruiting, training. and managing new people.

Typically a real estate business plan contains the following:

• Executive summary
• Description of your company – its history, location, key staff
• Expand on each, especially your strengths in your chosen market
• Headcount strategies (could be a combination of full time, part-time and consulting people)
• Goals and objectives outlined above
• Leverage growth tools we provide at Realtor.com
• Financing requirements to implement and execute these goals and plans.

Don’t Just File It

The creation of a real estate business plan for 2023 should require a deep examination of your current business and an honest assessment of the opportunities open to you this year. Don’t let this document go to waste: set aside an hour each week to review it quickly – make it a fixed agenda item during team meetings if you’re the team leader.  

The goals and objectives discussed earlier should be constantly reviewed and actual results compared to your plan.  A sound and achievable plan will be underpinned by business and marketing strategies – a good place to turbo-charge your lead generation is our Connections Plus solution.  Connections Plus helps you to successfully capture, communicate and connect  with potential clients, whether they are buying or selling.

You’re not alone, and the creation of the living document that is your 2023 business plan will give you guideposts and mile-markers to bring you successfully to your business destination.

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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.

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6 Steps to Creating a Real Estate Business Plan

Real estate is a dynamic and lucrative field that offers a wealth of opportunities for those who plan strategically. Whether you're a seasoned investor or just starting in the industry, having a well-structured real estate plan is essential for success. In this comprehensive guide, we will walk you through the steps of creating a robust real estate plan that will help you achieve your goals. From assessing your target market to crafting a detailed financial plan, we've got you covered.

1. Assess Your Target Market

Before diving headfirst into the world of real estate, it's crucial to assess your target market. Understanding your audience and their specific needs is fundamental to your success. Begin by researching the demographics of the area you plan to operate in. Consider factors such as age, income levels, and housing preferences. This information will help you tailor your real estate ventures to meet the demands of your target market.

Additionally, analyze the local real estate market trends. Are property prices rising or falling? Is there a demand for certain types of properties, like condos or single-family homes? By identifying these trends, you can make informed decisions about the types of properties to invest in and the optimal time to buy or sell.

2. Craft a Summary

A well-crafted summary is the foundation of any successful real estate plan. This summary should outline your overall goals and objectives. What do you hope to achieve in the real estate market? Are you looking to generate rental income, flip properties for profit, or build a diversified real estate portfolio?

Your summary should also touch on your values and principles as a real estate professional. For example, are you committed to ethical business practices, transparency, and exceptional customer service? Clearly defining your values will guide your decision-making throughout your real estate journey.

3. SWOT Analysis

Conducting a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis is a critical step in your real estate planning process. Identify your strengths and weaknesses as a real estate investor. This could include your knowledge of the local market, your financial resources, or your negotiation skills. Acknowledging your weaknesses allows you to work on improving them.

Next, assess the opportunities and threats in the real estate market. Opportunities could include emerging trends, under-served niches, or potential partnerships. Threats might involve economic downturns, market saturation, or regulatory changes. Being aware of these factors will help you adapt your plan as needed to mitigate risks and seize opportunities.

4. Determine Daily Operations

Real estate isn't just about buying and selling properties; it also involves daily operations and management. Define how you will manage your properties and interact with clients. Will you handle property management tasks yourself, or will you hire a property management company? How will you market your properties to attract buyers or tenants?

Consider creating a detailed workflow that outlines your daily, weekly, and monthly tasks. This will help you stay organized and ensure that you're consistently working towards your goals.

5. Create a Financial Plan

No real estate plan is complete without a comprehensive financial plan. Your financial plan should include a budget that outlines your income and expenses. Calculate your potential cash flow from rental properties, taking into account mortgage payments, property taxes, maintenance costs, and potential vacancies.

Additionally, plan for future investments and financing options. Will you rely on traditional mortgages, seek private financing, or explore partnerships with other investors? A well-thought-out financial plan will provide you with the clarity and confidence to make sound financial decisions in the real estate market.

6. Create a Marketing Plan

In the competitive world of real estate, a solid marketing plan is essential to stand out. Consider the marketing channels you will use to promote your properties. Will you leverage online platforms, such as real estate websites and social media, or opt for traditional methods like direct mail or local advertising?

Create a branding strategy that defines your unique selling proposition. What sets you apart from other real estate professionals in your area? Incorporate strategies for building a strong online presence, including a professional website, engaging content, and regular updates on property listings.

Creating a real estate plan is a fundamental step in achieving success in the real estate industry. By assessing your target market, crafting a comprehensive summary, conducting a SWOT analysis, determining daily operations, establishing a financial plan, and developing a robust marketing strategy, you'll be well-equipped to navigate the dynamic world of real estate.

Remember that your real estate plan is not set in stone; it should evolve as your goals and the market change. Regularly revisit and update your plan to stay aligned with your objectives and adapt to market conditions. With a well-executed real estate plan, you'll be on your way to building a prosperous and rewarding career in real estate.

10 Things Your Real Estate Business Plan Needs (FREE Template)

A real estate agent business plan is essential for success in today’s competitive market. It helps you set clear goals, define your vision, and outline the steps to achieve short-term and long-term objectives. As a real estate professional, having a well-crafted business plan can be the difference between being a top producer and struggling to make ends meet.

In your business plan, you’ll want to start by creating a vision statement that outlines the purpose of your real estate business and reflects your values. Setting firm goals will help you stay accountable and focused, allowing you to adapt to market changes or growth and remember that your business plan should be fluid and up-to-date to stay aligned with your ultimate objectives.

Your real estate agent business plan should be thorough, covering various aspects such as market analysis, organization structure, and marketing strategies. By having a comprehensive plan, you’ll be better equipped to navigate the challenges and seize the opportunities that come your way, ensuring your real estate business flourishes.

Understanding Your Target Market

Identifying your ideal client.

Understanding your target market is crucial to establish a successful real estate business plan. Begin by identifying your ideal client. Consider factors that may define your target clients, such as age, income level, family status, and property preferences. Reflect on your strengths as an agent and which clients you connect best with. This will help you focus your marketing efforts and create tailored strategies for your target audience.

Market Segmentation

Market segmentation divides your target market into smaller, more specific groups based on shared characteristics. In real estate, you can segment your market into categories such as:

• First-time homebuyers
• Empty nesters

By segmenting your market, you can tailor your services and communication strategies according to the unique needs of each group. This will lead to more effective marketing efforts and a better understanding of your potential clientele.

Analyzing Local Market Trends and Opportunities

Gather data on your local real estate market to identify trends and opportunities for your business. Analyze factors like:

• Market growth
• Market saturation
• Local property values
• Employment rates
• Infrastructure development
• Population demographics

By analyzing local market trends, you can identify areas with potential growth or areas that are becoming overly saturated. Use this information to adapt your services and expertise to market conditions, helping you stand out among competitors and position yourself as an expert in your niche.

Remember, a comprehensive understanding of your target market is essential for shaping your real estate agent business plan. By identifying your ideal clients, segmenting the market, and analyzing local market trends and opportunities, you’ll be better equipped to create tailored marketing strategies and make informed business decisions. This will ultimately contribute to the success and growth of your real estate business.

Lead Generation Strategies

Building an online presence.

To create a robust lead generation plan, build a strong online presence. A real estate agent must have a well-designed and user-friendly website to capture leads. Keep these factors in mind:

• Make sure your website reflects your branding and expertise
• Optimize your site for search engines to enhance its visibility in search results
• Include clear calls-to-action (CTAs), so potential clients can easily contact you
• Utilize high-quality images and videos to showcase properties
• Share helpful and informative content through a blog or resources section

You can also leverage social media channels to expand your reach and showcase your expertise in the industry. Focus on the platforms most relevant to your target audience and share valuable content related to real estate, local events, or home improvement tips.

Networking and Referrals

Building a strong professional network is essential for generating quality leads. Here are some strategies to boost your referral pipeline:

• Attend networking events, conferences, or workshops in your area. Engage with professionals in real estate or related industries
• Establish relationships with local businesses and community organizations
• Hold open houses or host educational seminars to engage potential clients in person
• Develop relationships with past clients and ensure you stay top of mind so they recommend you to their connections

Additionally, create a referral program that rewards clients and other referrers for sharing your services with their network. This will incentivize them to talk about you and help expand your reach.

Traditional Marketing Methods

Despite the increasing importance of digital marketing, traditional methods still have their place in generating leads for real estate agents:

• Send direct mail campaigns, like newsletters or postcards, to targeted neighborhoods, highlighting your strengths and successes
• Advertise in local print media, such as newspapers or specialized real estate publications
• List your services and properties in industry-specific directories, both online and offline
• Design and distribute eye-catching flyers, brochures, and business cards
• Participate in community events or sponsor local charities to enhance your company’s reputation and visibility

Make sure to keep track of the effectiveness of each lead generation method and evaluate their strengths and weaknesses. This will help refine and improve your overall marketing strategy and ensure you invest resources into the most productive channels.

Lead Conversion Techniques

Building rapport and trust.

To build rapport and trust, focus on the following:

• Be genuine and authentic with your prospects, showcasing your expertise and knowledge.
• Listen actively, taking the time to understand their concerns and needs.
• Display empathy towards their situation, offering tailored solutions for their specific problems.
• Stay engaged through the entire process, from the first interaction to closing.

Qualifying Leads

When it comes to qualifying leads:

• Ask open-ended questions to gauge their needs, timeline, and motivation for buying or selling
• Inquire about their financial situation and any potential barriers they may have
• Learn more about their preferred neighborhoods, housing type, and other preferences
• Prioritize leads based on their level of interest and readiness to move forward

Effective Communication and Follow-Up Strategies

For better communication and follow-up:

• Establish a consistent schedule for checking in on leads, such as every few days or weekly
• Personalize your communication, tailoring messages to each lead’s unique situation and preferences
• Practice active listening and respond thoughtfully to their questions or concerns
• Utilize several communication channels, including email, phone calls, text messages, and social media

Utilizing CRM Systems for Lead Management

Leveraging CRM systems can help you organize and optimize your lead management process:

• Track important lead information and interaction history in a centralized location
• Set reminders for follow-up tasks, appointments, or important milestones
• Analyze your leads’ behavior to understand their needs better and provide personalized service
• Create targeted marketing campaigns to engage your leads and nurture them toward conversion

By implementing these techniques and focusing on leads, marketing strategies, and communication, you’ll be well on your way to creating a thriving real estate agent business.

Closing Deals and Earning Commissions

Negotiation tactics.

When closing deals, it’s crucial to employ effective negotiation tactics to help both you and your client reach a favorable outcome. Some negotiation tactics include:

• Understanding the market: Know the local market trends and use this information when discussing price adjustments or concessions.
• Compromise: Find common ground and offer reasonable solutions to meet both parties’ needs.
• Leverage: Use your expertise in the real estate industry to highlight your client’s strengths and make convincing arguments.

Handling Objections and Overcoming Challenges

As a real estate agent, you’ll encounter objections and challenges in closing deals. To address them efficiently, consider the following points:

• Listen to the client’s concerns and empathize with their situation.
• Identify the objection: Determine the root cause of the objection and respond with a compelling solution.
• Maintain professionalism: Stay calm and composed, avoiding confrontational behavior.

Preparing and Presenting Offers

Presenting a well-prepared offer is vital to increasing the chances of closing a deal. Keep in mind:

• Research: Analyze comparable properties in the area to establish a competitive price for the offer.
• Documentation: Ensure that all necessary documents, such as pre-approval letters and proof of funds, are in order.
• Presentation: Employ clear and concise communication when presenting the offer, highlighting its benefits to the seller.

Managing the Transaction Process and Paperwork

Effectively managing the transaction process and paperwork helps keep the deal on track, which includes:

• Organization: Maintain an organized system for tracking important deadlines and required documents.
• Communication: Regularly update all parties involved in the transaction, ensuring they know the progress and address any concerns.
• Attention to detail: Ensure all forms, contracts, and other documents are accurate and complete.

By successfully closing deals, you’ll earn commissions based on your agreed split with your broker. For instance, if you close a deal worth $350,000 with a 6% commission rate, the gross commission income will be $21,000. If your commission split with your broker is 70/30, you’ll earn $14,700 while your broker receives $6,300. Utilizing the strategies discussed in this section will help you maximize your commission income and prove beneficial to your real estate business plan.

Client Retention and Building Repeat Business

Maintaining client relationships after closing.

Building lasting relationships with your clients is essential for repeat business and referrals. After closing a deal, continue to provide value by offering support with any post-closing issues, such as paperwork or maintenance concerns. Keep in touch with your clients and remember important milestones, such as anniversaries or birthdays. Show appreciation for their trust in you by sending thoughtful gifts or cards or simply checking in periodically.

Asking for Referrals and Testimonials

Word-of-mouth marketing is an incredibly powerful tool in the real estate industry. Encourage your satisfied clients to share their positive experiences with friends and family. To achieve this, be proactive in asking for testimonials and reviews, which you can later showcase on your website, social media, and other marketing materials. Here are some strategies to obtain them:

• Reach out via email or phone, and kindly request a testimonial or referral
• Provide a simple template to make it easy for clients to write a review
• Offer incentives, such as discounts on future services or gift cards, to show gratitude for their time and effort

Staying Top-of-Mind Through Regular Communication and Updates

Establish regular communication with your past clients to stay top-of-mind and generate repeat business. Keep them informed about the latest market trends, neighborhood developments, or listings that interest them. Here are some communication tactics you can employ:

• Send personalized monthly or quarterly e-newsletters
• Share relevant content, such as articles or videos, on your social media platforms
• Organize events, like client appreciation parties or educational seminars, to maintain connections and foster new ones

Maintaining client relationships, requesting referrals, and staying top-of-mind through regular updates will strengthen your real estate business with repeat clients and new prospects. Remember, satisfied customers are the key to long-term success in the real estate industry.

Measuring Success and Adjusting Your Strategies

Setting goals and key performance indicators (kpis).

To measure the success of your real estate agent business plan, start by setting SMART goals (Specific, Measurable, Achievable, Relevant, and Time-bound). These can serve as benchmarks for success and provide direction on areas to focus your efforts. Consider setting goals for various aspects of your business, such as sales volume, new client acquisition, and customer satisfaction.

In addition to your goals, establish key performance indicators (KPIs) to track your progress. KPIs are quantifiable metrics that help you evaluate the effectiveness of your strategies. Examples of KPIs for a real estate agent business plan include:

• Number of new leads generated per month
• The conversion rate of leads to clients
• Average days on market for properties
• Percentage of listings sold

Tracking and Analyzing Results

With your goals and KPIs established, continually collect and analyze data to track your progress. Regularly monitoring your results allows you to identify trends, spot potential problems, and evaluate the effectiveness of your marketing efforts. Some methods to track your data include:

• Using a CRM system to manage client relationships and interactions
• Employing analytics tools to evaluate the success of digital marketing campaigns
• Conducting a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) to identify areas where you excel or need improvement

Pay close attention to competitor performance and market trends to better understand how your strategies compare and identify any gaps you may need to address.

Adapting and Optimizing Your Strategies Based on Data

Once you’ve gathered and analyzed your data, use insights to adapt and optimize your strategies. Make data-driven decisions to improve your marketing efforts, streamline processes, and better allocate resources. Some steps you can take include:

• Adjusting your marketing budget and tactics based on your marketing ROI
• Revisiting your goals and KPIs to ensure they still align with your overall business objectives
• Fine-tuning your pricing strategies or the type of properties you focus on to meet market demand better

Maintaining a proactive approach to adjusting your strategies will keep your business plan agile and responsive to the changing real estate market. This will go a long way in helping you achieve the success you envision for your real estate agent business.

Time Management and Organization

Prioritizing tasks and setting a daily schedule.

In your real estate agent business plan, it’s crucial to have a time management and organization strategy. Start by prioritizing tasks that align with your [business goals]. Break down tasks into daily, weekly, and monthly goals. Then, create a daily schedule following the block scheduling method:

• List your key tasks for the day.
• Assign specific time blocks for each task.
• Stick to the schedule and avoid multitasking.

You’ll notice increased productivity and improved time management with this approach.

Using Productivity Tools and Apps

Take advantage of productivity tools and apps to help you stay organized and manage your time efficiently. Some popular tools for real estate agents include:

• Calendars: Apps like Google Calendar or Outlook can help schedule appointments and manage deadlines.
• Task Managers: Utilize tools like Trello, Asana, or Todoist to manage your projects and collaborate with your team.
• Time Tracking: Apps such as Toggl or Harvest provide insights into your work habits, helping you identify areas for improvement.

Remember to limit the number of tools you use to avoid digital clutter and duplicate information.

Delegating and Outsourcing Tasks When Necessary

As a real estate agent, delegating and outsourcing non-core tasks is essential to focus on your primary responsibilities. Here are some tasks you can consider delegating:

Identify areas where your expertise may not be as strong or where your time can be better spent, and consider outsourcing those tasks to professionals. This approach will help you manage your workload and improve the quality of your services.

Ongoing Education and Professional Development

Staying up-to-date with industry trends and changes.

To stay competitive in the real estate market, you must keep up with industry trends and changes. By monitoring resources like the National Association of Realtors (NAR), California Association of Realtors (CAR), and multiple listing services (MLS), you can stay informed about the latest developments in your field. Set aside time to read industry publications, attend webinars, listen to podcasts, and follow industry-leading professionals on social media.

Pursuing Relevant Certifications and Designations

Continuing education is crucial for staying current in the fast-paced real estate industry. Pursue relevant certifications and designations to add credibility and value to your practice. Organizations like NAR and CAR offer various designations demonstrating your expertise and commitment to professionalism to clients and colleagues.

Examples of real estate certifications and designations include:

• Accredited Buyer’s Representative (ABR)
• Certified Residential Specialist (CRS)
• Green Designation (Green)
• Seniors Real Estate Specialist (SRES)

To obtain these certifications, you must complete specific coursework, pass exams, and maintain membership in the relevant organizations.

Participating in Networking and Learning Events

Engaging in networking and learning events within the real estate community can help you build relationships, share ideas, and learn from the experiences of others. Attend conferences, workshops, and local meetups relevant to your niche, region, or areas of interest. Not only will this enhance your industry knowledge and skills, but it can also be an opportunity to form valuable connections that will benefit your business growth.

In summary, staying up-to-date with industry trends, pursuing certifications and designations, and participating in networking events can help you maintain and develop your skills as a real estate professional. Committing to continuous learning and professional development is essential to ensure your long-term success in the real estate business.

A well-structured business plan is essential for success as a new real estate agent. With a solid plan, you can set your goals, identify your target market, and analyze your competition. A comprehensive business plan lets you plan your marketing strategies, map your operating expenses, and create revenue projections.

To get started, consider using a business plan template tailored to real estate agents’ needs. This will give you a framework to follow as you develop your plan.

Developing a business plan is just the first step in the process. You need to take action and implement your strategies to realize your goals and achieve success. Revise your plan regularly, adapting and updating it as needed. This will ensure you stay on track with your goals and remain competitive in the ever-changing real estate market.

As a new real estate agent, taking bold steps toward your objectives may feel intimidating. However, trust your plan, apply your outlined strategies, and stay persistent. Your dedication will pay off in the long run.

Starting a career in real estate can be challenging, but you don’t have to face the journey alone. There are numerous resources and support networks available to help new real estate agents excel:

• Professional networks : Join local real estate associations and online forums to connect with experienced agents, ask questions, and expand your knowledge.
• Mentors : Seek accomplished real estate agents who can offer guidance, share valuable experiences, and provide personalized advice.
• Training and education : Keep your skills fresh by attending workshops, participating in webinars, and pursuing continuing education courses relevant to your field.

By leveraging these resources and committing to your business plan, you are setting yourself up for a successful career in real estate. Don’t forget to celebrate your achievements along the way and take pride in your progress. Now is the time to take action; you will surely achieve your goals with determination and hard work.

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10-step checklist for writing a 2023 real estate business plan

If you're a real estate agent planning on opening a real estate company, you need a business planning lesson. Every successful business operates off a template defining its operations and goals. Your real estate business plan is the founding document of your organization, and every new business owner must take the time to plan their venture.

If it's your first time writing a business plan, you probably have mixed feelings of excitement and frustration. It's a thrilling experience to bring all the elements of your new company into realization, but it's upsetting when you realize you don't know what you're doing.

Writing a business plan helps to show you the flaws in your business skillset. You might be a marketing genius, but you have no idea how to manage operations cash flow. Similarly, you could have excellent administration skills but know nothing about marketing.

Writing out your business plan shows you where you need assistance. You identify areas where you're weak and build a strong team around you to support the places you need help. In this post, we'll unpack a 10-step checklist for writing your first real estate business plan.

Step 1 – Define your real estate business

The first step in writing your real estate business plan is understanding your limitations and strengths as a real estate broker and a business owner. Do you know what you want to achieve with your business? Your real estate brokerage needs defined goals and targets to chase, or your organization has no purpose.

Every small business relies on a team. The team you select needs to complement your strengths and weaknesses. Use this stage of your plan to define the organizational roles of each team member. Identify their skillsets and what they bring to your company.

Real estate brokerages need to understand the type of business you want to run and the personality types of the agents you wish to attract to your company. As the firm's founding partner, you get to decide who you want to add to your team.

After identifying the team, and each member's roles, it's time to work on your mission statement and executive summary.

An executive summary defines the aspects of your business plan and what you want to achieve with your business outcomes. It also describes the culture of the firm and your values.

The mission statement clarifies the purpose of your business and what you're trying to achieve. It also mentions how you intend to get to those goals. We recommend writing out both your mission statement and executive summary and revisiting them after completing your business plan.

In the initial planning stage, wiring out your mission statement and executive summary helps you clear the cobwebs and focus on the task at hand. However, when revisiting your mission statement and executive summary at the end, you might find you left something out or want to make a change to clarify your business directives.

After you have an understanding of your business, it's time to work on your goals.

Establishing your business goals is the most crucial part of the planning process. Your real estate business plan needs clear and defined goals for growth, sales, finances, marketing, and every aspect of your business.

Each section, like finance, for example, drills down into sub-goals for each category. For instance, your financial goals should feature an overall sales target for the year. However, there should be sub-goals in each section for monthly sales targets, and you can break that down into a different sub-category with targets for individual agents.

The idea of goal setting is to set achievable business goals with measurable results. You'll have both short term and long-term goals attributed to each of your business functions. Here are some examples of measurable goals you can use in your planning process.

• How many transactions do you want your company to do each week, month, year?
• How many leads do you need to capture in a day, week, month, or year?
• How many new agents do you want to work on your team?
• What's your earnings goal for the year?
• What do you want to achieve with your brand?

All these questions are vital to setting targets for your business. Without goals, you're like a car rolling down the hill with no engine. You'll hurtle down the hill at first, but when you reach the bottom, and the momentum dies out, you have no engine to pull you along. It's the same with your business planning and goal setting. If you don't have goals, you have no targets, and you'll run out of enthusiasm in a few months when the momentum in your company starts to fade.

Step 2 – Identify your target market

The first stage of the planning process involves structuring your company and defining your business goals and purpose. The second step of building your real estate agent business plan consists of understanding your target market.

What market are you operating in with your business? Do you want to sell luxury homes? Or are you looking at specializing in selling single-family units or condos? Specialization is a popular strategy for real estate firms, giving you the chance to build a reputation in a specific market segment.

Take your time identifying your target market, and dig into the MLS listings to determine which areas offer you the best return. As a real estate agency, you'll have to specialize in a specific region and build your reputation in that area.

Look for the following metrics when examining potential markets.

• What is the average price of properties in the area?
• How many days do they stay on the market?
• What is the average listing commission?
• What is the average pricing trend for properties in a prospective market?
• How many new listings come up in your target market each week, month, or year?
• How does the data compare month-on-month and year-on-year?

Step 3 – Complete a competitive analysis

All business owners need to understand the competitive landscape. The real estate industry has thousands of operators, and there are probably dozens of firms in your local area. Understanding the performance and structure of your competitors allows you to uncover the most successful firms.

When you identify the leaders, you can model what they're doing right and bring it into your real estate business plan. Check out your competitor's websites and review their social media accounts to gain insight into their marketing strategy and operations.

Who are the realtors that have the most industry clout in your area? Who are the leading firms, and what makes them stand out? Ask yourself these questions and unpack the top real estate firms' characteristics and components in your local area.

Step 4 – What services are you offering?

Real estate is a massive industry, and there are dozens of sub-industries within the real estate market. You need to understand your business model, specializing in a specific segment of the market. For instance, do you want to sell single-family homes to first-time homebuyers? Are you looking at providing commercial leases? Maybe you want to build a rental portfolio?

Spreading yourself thin across too many markets results in a lack of focus and direction. Startups will do better if they identify a profitable market and specialize in servicing that specific niche. Identify the areas with the biggest opportunities, and set up your services to cater to those areas.

Step 5 – Identify customer personas

Without accurately defined customer personas, you diminish your marketing efforts and prospecting outcomes. Understanding your customer profile and persona in the real estate market is essential to formulating your marketing strategy.

Your customer persona needs to describe demographic elements like average age, income, occupation, and other defying criteria that help you nail down your ideal customer. If you're a brokerage or realtor offering multiple services like sales and rentals, make sure you identify customer personas in each category.

You can further drill-down on your personas by identifying demographics in clients that buy luxury homes, single-family units, apartments, and condos.

Understanding your client persona gives you a better direction for your marketing strategy. For example, if you specialize in selling apartments to young professionals under 30, you're going to need to advertise through social media. Mediums like outdoor and print bring you less ROI on your advertising dollars.

Step 6 – Complete a SWOT analysis

Completing a SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats) is an essential component of real estate business plan templates. In this analysis, you unpack everything you know about the strengths and weaknesses in yourself, your company structure, and your team.

Think of the SWOT analysis as a basic summary of everything you've done with your real estate business planning so far. Combine the know your learning during the exercise with what you know about your working habits and personality characteristics.

For instance, you might be a champ in closing deals, but your prospecting skills are weak. That's an example of identifying your limitations and performance parameters.

Maybe there is no real estate brokerage in your area that catering specifically to millennial first-time homebuyers? That's an example of a market opportunity your business can fill.

Perhaps your target market involves new construction, and industry news states that there's a big strike happening at the end of next month. That's an example of a threat facing your business. Revisit your SWOT analysis every quarter to see if you can identify any new developments to add to your business plan.

Step 7 – Build a marketing plan

Now we get into the serious stuff with the development of your marketing strategy. Marketing is the single-most-important function of your business. The purpose of marketing is to drive new real estate leads to your business, allowing you to convert them into customers.

Your marketing strategy needs to focus on the things you learned when completing your customer persona. Where are you going to get the best bang for your marketing buck? Real estate marketing is a competitive space, and you need to make every dollar in your budget count.

Your marketing plan needs to include your online and offline strategy development. Your online strategy is the most important, and you'll need to build a website to promote your company and your listings. Social media marketing, referrals, brand building, sales funnels, and lead generation are essential online marketing strategies you need to succeed in your business.

Today, all your customers are online, and you need to market where your audience is hanging out. Most of them are on social media. Therefore, you'll need a social media marketing expert on your team to develop and direct your social strategy across all platforms.

CRM (Customer Relationship Management) software is another critical component of your business that integrates with your company's function. The CRM helps you manage clients, your sales funnels, and your marketing efforts through one dedicated platform.

You'll need to hire a marketing team to help you develop and implement your marketing strategy and CRM. Experts create a dedicated online marketing plan that includes all team members.

Your marketing plan is the foundation of your business plan. Investors will want to know your strategy and the results you expect to implement in your target market.

Related: 20 easy real estate marketing ideas to grow your agency

Step 8 – Complete your financial plan

Your financial plan is crucial if you intend to seek investment for your company. Whether you're dealing with private angel investors or the bank, they want to see your financials and sales projections to complete due diligence on loans.

If they decide to loan your money, they need to know when they can expect you to return the money and the ROI you offer on the deal.

You'll need to include information like your commission pricing and average commissions, your sales forecasts for three years, and cash flow projections. When completing this section of your real estate business plan, you'll need to sit down with your accountant and get their advice on structuring your financials.

You'll need to account for your business expenses and the costs of setting up your company with a website, CRM, and digital marketing services. Remember to include memberships to marketing sites like Zillow Premier Agent and ProspectPLUS.

Your financial plan forms the backbone of your investor's interest in involvement with your real estate firm. The numbers need to make sense, so make sure you run them past your accountant.

Step 9 – Periodically revisit your real estate business plan

Your business plan is a living document, and it changes with your business. Having a rigid plan won't work. The reality is that nothing in business works out 100% the way we plan. You'll need to have a flexible document you can update as your business grows.

During the first year of your operations, we recommend revisiting your business plan every quarter. As the business matures, you can push this exercise back to once every six months or once a year.

Revisiting your business plan gives you a chance to follow up on your goals and targets, giving you ideas on where you need to improve. Real estate professionals understand the importance of remaining responsive to change in a dynamic business environment.

Periodically revisiting your business plan gives you a chance to reflect on your progress and plan the future with clarity and certainty.

Step 10 – Visit B12 for your digital business needs

Your real estate website forms the foundation of your marketing efforts. It acts as the touchstone for your company online, providing a virtual storefront to your prospective clients. Inefficient and ineffective website design can derail your business plans, costing your company vital leads during the startup phase, where you need to generate as much income as possible. For website design inspiration, check out the best real estate websites and this guide on how to design a website !

If you need help with your real estate business website, reach out to the professionals at B12.

B12 specializes in helping professional services companies create beautiful sites that enable them to operate effectively online. Built-in tools like SEO , email marketing, and online scheduling make it easier to reach your audience.

Plan with Professionals

As an individual starting out a new real estate business, you have many things to consider for your real estate business plan and might not have the time to create a website from scratch. Relying on the expertise of design professionals ensures you get a website that helps you achieve your business goals.

Sign up to see a free draft of your new real estate website or learn more about how B12 uses artificial intelligence and experts to help businesses like yours grow online.

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How to Start a Real Estate Business

Did you know that approximately 25.8% of the $123.8 trillion net worth in the United States is held in real estate?

That means learning how to start a real estate business is one of the most crucial skills for entrepreneurs. Fortunately, we’ve talked to a lot of people about real estate.

We’ve talked to real estate business owners who collectively have hundreds of millions in property value and make millions per year to find out how they approach the real estate industry.

In this blog, we’ll share information about the real estate industry and explain how to start a real estate business. We’ll also analyze case studies and answer frequently asked questions about real estate.

You can either read straight through or click on any of the links below to jump to that section:

Learn About the Real Estate Industry

Successful real estate business examples, real estate business faq.

Let’s start by discussing the real estate industry.

You should familiarize yourself with the real estate market before you decide to start a real estate business. The information in this section comes from our business ideas database . Let’s look at some of the things you’ll want to know before you enter the industry.

How much does it cost to start a real estate business?

Most real estate businesses cost between $6K and $55K to start. However, some of the more advanced setups like real estate investment trusts cost up to $5.5M in initial costs.

These figures don’t include the costs of becoming a real estate agent or broker. Licensing varies by state and often requires on-the-job experience before you can start your own company or handle real estate transactions.

How much do real estate businesses make?

The average revenue for a real estate business averages between $41K for a real estate photography business to as high as $94M for real estate investment trusts.

The most common type of real estate business is a real estate agency. Those average around $191K per year.

Is real estate profitable?

Most companies in the real estate industry have profit margins of 7.6% to 22.3%. Exact profits will vary based on your niche.

Many real estate agents are licensed but don’t buy or sell any houses during a year. This can be for any number of reasons. They may be licensed to save on transactions or maintain the licensure required for property management.

Plus, there are also business brokerages and commercial leasing agents.

Do I need to be a real estate agent to start a real estate business?

No, you don’t have to be a real estate agent to start a real estate business, but it’s helpful to be at least an agent and preferably a broker. With these qualifications, you will be able to handle more of the legal aspects yourself.

What are some real estate business ideas?

There are numerous real estate business ideas that you might pursue. Some of the most common business ideas include:

• Investing in real estate
• Real estate photography services
• Mortgage loans
• Title companies
• Real estate agencies
• Flipping houses
• Real estate investment firms
• Real estate wholesaling
• Real estate investment trusts (REITs)
• Property management companies
• Real estate software as a service
• Construction companies

You can learn more about these ideas in UpFlip Academy . Next, let’s look at some examples of successful real estate businesses.

The three entrepreneurs below had very different paths to building wealth through real estate. Check out their stories.

Aaron Amuchastegui

Aaron was building homes when the 2008 financial crisis hit and nobody was buying homes. That’s when he converted to buying foreclosures.

Since then, he’s bought more than 800 properties and created tools like Lead Propeller, Prophawk, and Roddy’s Foreclosure Listing. He also launched a masterclass about buying foreclosures. Aaron now earns more than $3.6 million annually.

Find out how this real estate business mogul runs his businesses:

Nicasa: Airbnb Property Management

Nicasa is a real estate business started by Sid Bahadur and Eva Xia. They run their Airbnb rental and property management company using strategies similar to hotels.

Their strategies have led to over $3 million in revenue while managing 22 properties. They share how they operate their successful real estate business in the video below:

Thach Real Estate Group: Real Estate Agents Becoming Investors

Thach Nguyen was a real estate agent when his mentor explained:

You can become rich as a real estate agent, but you have to buy real estate to become wealthy.

This insight helped him understand that just selling real estate isn’t enough. He started buying real estate and has now developed a portfolio of properties worth over $100M.

Find out how he approaches the real estate business:

As you can see, each of these real estate professionals took a different approach but still developed great wealth. You can become a real estate professional too.

Keep reading to find out everything you need to know to make a real estate business profitable.

Real estate professionals and people in other industries can make a great living with a real estate business. It helps to have a strategy before you start your real estate business. You’ll want to follow a process similar to the one below:

• Conduct market research.
• Create a business plan.
• Determine startup costs.
• Create a financial plan.
• Build your brand.
• Create a sales plan.
• Obtain your real estate license.
• Choose a business structure.
• Get an EIN.
• Build a website.
• Get business insurance.
• Start networking.
• Join national associations.
• Find clients and tenants.
• Keep growing your business.

Find out how each of these steps will help you find success in the real estate industry.

Step #1. Conduct Market Research

The real estate industry is a huge market. There are plenty of ways to make money when you start your own real estate business. Learn about the different niches to figure out what part of the real estate market you want to enter.

Then look at the requirements to start a real estate business and determine who the major competitors are. From there, analyze the growth outlook. These details will all help you create an effective real estate business plan.

Step #2. Create a Real Estate Business Plan

Creating a real estate business plan is an essential step. Thach explained a really easy way to do it.

Second, what is the average rent in your location?

When you divide the two, you know exactly how many pieces of real estate you need to make the monthly income you want.

Alternatively, you can read our blog about how to create a formal business plan .

Step #3. Determine Start-Up Costs

While most real estate business owners spend between $6K to $55K to get into real estate, your business model will impact the actual costs. Even if you just want to buy a single-family residence to start a real estate business, you’ll still incur at least these baseline costs:

• Forming a limited liability company: under $1K
• Real estate license: $400 to $2.5K depending on state requirements
• Website: $100 monthly
• Customer relationship management: $0 to $1K monthly
• Property management software: $0 to $1K monthly
• Down payment on property: $45.8K to $157.4K
• Furniture (optional): $2K to $20K

There are also ways to start a real estate business without money like rental arbitrage or wholesale home sales.

Step #4. Create a Financial Plan

You’ll want to create a financial plan to help you figure out how you’re going to reach your goals. This may be a bit challenging because real estate markets fluctuate dramatically even over short periods.

In this financial plan, you’ll need to start with some assumptions:

• Number of properties owned
• Interest rates
• Changes in the housing market for buying new properties

Next, you’ll want to calculate approximate monthly and annual earnings. Include all the costs associated with running the business each month.

Here are the costs allowed by the Internal Revenue Service for Schedule E rental properties:

• Advertising
• Auto and travel
• Cleaning and maintenance
• Commissions
• Legal and other professional fees
• Management fees
• Mortgage interest paid to banks, etc.
• Other interest
• Depreciation expense or depletion

They don’t include the actual principal payments on the mortgage, but they do view depreciation as a non-cash expense. You should anticipate at least the following:

• Mortgage and property taxes: Variable based on home price
• Private mortgage insurance: Up to 1.5% of the mortgage
• Maintenance: 1% to 2% of the property value per year
• Homeowners insurance: $2,285 per year ( average )

You may also need to budget for utilities and homeowners association fees depending on the exact arrangement of your business.

Pro Tip: It’s best to set aside emergency funds in case you need to pay for unexpected costs such as legal fees or extensive cleaning.

Once you know your expected real estate income and expenses, calculate how much profit you’ll have left each month as well as cumulative profit. Each time you reach enough profit to pay 20% as a down payment, you have enough money to pay for another property.

There are also financial tools that let you borrow against equity to speed up the process of developing wealth. However, these come with additional risk, so you should make sure you fully understand how each loan product works.

Step #5. Build Your Brand

There are two ways to go about building your brand in real estate: personal brands or corporate brands. Depending on the business and your goals, you may want to build one or even both brands.

Corporate Brands

This is the type of brand you’ll want to build if you’re a company like CBRE Group, Inc., which manages commercial real estate properties. The same applies to RE/MAX for residential real estate.

You’ll want to create content that helps people understand what you do. If you’re also building a personal brand, try to include the same person or people in each piece of content.

Personal Brands

Realtors and real estate agents commonly use personal branding to find clients. This involves using your name in marketing to help people remember you as an individual. The goal here is to create a positive reputation as a real estate agent or other professional.

You might want to develop a reputation for:

• Commercial real estate
• Residential real estate
• Custom homes

You might also want people to describe you as:

• Informative
• Resourceful

Promoting what you do and how you do it will help people recommend your real estate business to others who could benefit from your services and personal qualities.

Step #6. Create a Sales Plan

Depending on your real estate business, you will need different strategies to find:

• Real estate agents
• Property owners

Look at what the top companies do and what actions you can take to differentiate yourself from competitors.

Step #7. Obtain Your Real Estate License

As a business owner, you’ll benefit from becoming a licensed real estate professional. This will normally require pre-licensing education, taking an exam, and passing a background check.

Each state has its own requirements for licensure. Some allow you to immediately become your own real estate brokerage and do almost anything involving real estate. Others have separate requirements for real estate agents, brokerages, property managers, and business brokers.

Make sure to check your state’s requirements.

Step #8. Choose a Business Structure

Some of the most common business structures for your own real estate business include limited liability companies (LLCs), sole proprietorships, S corporations, and trusts.

The majority of these structures separate personal and business liability, but a sole proprietorship does not. It’s ill advised to run a real estate business without liability protection.

We suggest talking to an expert in real estate law to establish the best structure for your real estate business model.

Step #9. Get an EIN

An employer identification number (EIN) is issued by the IRS. You absolutely need to have an EIN if you’re going to hire employees.

Step #10. Build a Website

You’ll want a real estate website to market your services and properties. At a minimum, you should have separate pages for your company information, properties, contact details, and terms and conditions.

You’ll also need a disclosure about how you use cookies and your site map. Find out more about how to build a website .

Step #11. Get Business Insurance

Real estate companies need to have insurance to protect their properties against damage and liability. This ensures you’re protected in case potential clients, visitors, or employees get hurt on properties that you own or manage.

We suggest using Simply Business to quickly get quotes from multiple insurance companies.

Step #12. Start Networking

You’ll want a marketing strategy to help you get your brand out to potential clients. There are numerous ways to do this:

• Making a professional website
• Attending networking events
• Marketing your business on social media
• Joining business directories through groups like the National Association of REALTORS®

For in-person marketing, you’ll need materials such as business cards and pamphlets to help potential clients understand how you can help them with their real estate needs.

Step #13. Join National Associations

Joining associations of real estate agents, investors, property managers, and other real estate professionals is a good way to improve your real estate career. It will also ensure you’re keeping up with industry trends and building your web presence.

The Library of Congress has a great list of real estate associations , including:

• American Bankers Association
• American Institute of Architects
• American Real Estate Society
• American Seniors Housing Association 
• Building Owners and Managers Association

Most of these organizations charge membership fees to join. In return, they normally offer industry education, certifications, admission to industry events, and discounts on suppliers.

Step #14. Find Clients and Tenants

Every real estate business needs clients, tenants, or both. We’ve already discussed many of the ways to meet industry professionals, but finding tenants requires slightly different marketing strategies.

One of the simplest methods is to list the property on relevant marketplaces. Some popular markets and platforms include the following:

• Airbnb: This is currently the leading short-term rental platform.
• Vrbo: Vrbo is a main Airbnb competitor.
• Apartments.com: This site allows you to list apartments and home rentals.
• Facebook Marketplace: Whether you’re selling or leasing, Facebook can help you reach your local community.
• Zillow: You can list properties for rent or sale on this real estate business site.
• HotPads: Use this site if you have a unique house and lots of photos.
• Redfin: This website offers 3D tours, help from local agents, and premium placements.
• HomeFinder: This listing tool lets you upload photos, share listings to social media, and pay for priority sorting.
• RealtyTrac: This platform specializes in foreclosures and defaulted properties.
• Century21: Century21 is one of the top brokerages.
• Movoto: Movoto is another licensed real estate brokerage if you want to sell without a broker’s license.

As a property manager, you’ll need to follow all applicable real estate laws in your local real estate market. That means you’ll either need to work with a trustworthy real estate professional or become one yourself.

Becoming a professional makes it easier to create contracts like rental agreements, perform background checks, accept payments, and pay suppliers. Plus, you may have to make court filings for evictions or tenant disputes.

You’ll also need a customer relationship management system to manage your real estate properties and routine tenant requests.

Step #15. Keep Growing Your Business

Once your new real estate business starts bringing in a profit, you’ll eventually want to expand. This will mean different things for different types of real estate companies.

A real estate broker or a house flipper might want to make more real estate sales. Meanwhile, a real estate investor or Airbnb owner might want to acquire more properties and rent them out. If you’re a property management company, expanding could involve finding more real estate business owners who need your services.

Growth may be slow at first, but as your profitable business increases the amount of cash you have on hand, you’ll be able to buy more properties at a faster rate.

Want to know more about real estate services? Check out some of the questions below.

How do beginners start real estate businesses?

Beginners can buy shares of a real estate investment trust to start earning profits from the real estate industry. REITs expose you to the market with low risk.

As you build wealth, you might want to consider more direct ownership. This could include buying rental properties, flipping houses, or starting a property management business.

Is it hard to start a real estate business?

Starting a successful real estate business is easier than you might think, but you’ll still need to put in the work. A new real estate business may require education and a significant investment of both time and money.

The key is to create a comprehensive business plan, network with your target audience, and keep pushing forward. There’s a reason why real estate is one of the largest segments of wealth for many Americans.

How to start a real estate business with little money

There are three main ways to start making money in your local real estate market when you don’t have much money:

• Wholesale real estate: With wholesale real estate , you’re contacting properties that aren’t listed for sale and offering to find potential buyers for a fee.
• Real estate investment trusts: This involves investing in a business entity that already owns many properties. You earn a share of the profits on a monthly, quarterly, or annual basis.
• Rental arbitrage: In rental arbitrage, you rent a property and sublease it. Many online property listings specifically ban this practice. However, it is legal as long as you negotiate the right to do so.

How do you start making money in real estate?

There are so many ways to start making money by offering real estate services. You should consider the following factors:

• Personal involvement: Real estate brokers and property managers have the most active involvement. Meanwhile, REITs allow you to invest in other real estate businesses and collect profits.
• Interest in sales: Real estate agents and brokers are self-employed business owners who are legally allowed to sell real estate to their target markets.
• Construction knowledge: Many real estate businesses focus on buying homes, fixing them up, and selling them for a profit. Alternatively, you can rent out the property once it’s renovated.

As you can see, you’ll want to do market research to establish which business strategy fits best with your lifestyle and professional goals.

How to start a real estate business with no money

Setting up an LLC and obtaining a business license cost money, so you can’t legally start a real estate business with no money. However, you can start a rental business through home hacking (i.e., renting out rooms in your home), real estate wholesaling, or rental arbitrage.

You’ll be taking on significant personal risk if you run these businesses without an LLC and insurance, so be careful.

How to start a real estate business from home

Many people with a real estate broker’s license run their business from home. It’s a cost-effective way to start selling real estate. In addition, most or all real estate investors run their businesses from home.

As long as you don’t have lots of people coming to your house, you should be allowed to run your own business from home. Some of the main benefits between a home-based real estate business and other real estate brokerages are:

• Lower business costs
• Being able to claim part of your home expenses as business expenses

At the same time, you may want to rent a space in a coworking facility for client meetings or other professional activities.

Can you start your own real estate company?

Depending on what you’ll be doing in real estate, you may need to hire a licensed real estate agent or real estate broker to oversee transactions if you aren’t one yourself.

Many other types of real estate companies don’t require special licensing to perform the work.

We started by discussing the opportunities available in the real estate industry. Next, we established how three real estate business owners discovered their target markets and created their own successful real estate businesses.

From there, we explained how to start your own real estate business and answered frequently asked questions about the industry.

What kind of real estate business are you thinking about starting?

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Expert Guide to Salesforce Implementation in 2024

• Salesforce Services
• Salesforce Assessment
• Salesforce Implementation
• Salesforce Customization
• Migration to Salesforce
• System Integration
• Virtual Admin Package
• Fractional Team Package
• Salesforce Products
• Salesforce Sales Cloud
• Salesforce Service Cloud
• Salesforce Experience Cloud
• Pardot (MC Account Engagement)
• Residential Real Estate
• Commercial Real Estate
• Capital Markets
• Private Equity
• Venture Capital
• Legal Services
• AscendixRE CRM

Commercial Real Estate CRM on top of Salesforce

Ascendix Search

Advanced Search & Productivity App for Salesforce users

AscendixRE Land

CRM for Land Brokers

MarketSpace

Property Listings Portal and Secure Deal and Collaboration Rooms

How to Use AscendixRE Real Estate Stacking Plan Software

• CRM Best Practices

A stacking plan in real estate is a visual representation of the distribution of tenants across the floors of a commercial building. A real estate stacking plan displays the layout and occupancy status of a building, typically a multi-tenant office or residential high-rise.  It details the square footage occupied, lease expiration, the company’s name, occupancy/vacancy rate, and more.

Stacking plans simplify the selling and leasing of real estate spaces in commercial buildings. A building owner or broker can create it via software.

Stacking Plan Example (The screenshot of AscendixRE)

The solution used to generate real estate stacking plans might go as one of the features of modern commercial real estate CRMs.

In this post, we’ll demonstrate how AscendixRE CRM handles stacking plan generation and updates them automatically. The Demo is included! 

Need an Effective Tool to Streamline CRE Operations?

Boost your business with AscendixRE – an advanced CRM for commercial real estate brokers

Why Stacking Plan Software?

Real estate stacking plan software helps brokers automate stacking plans and better represent available space, track lease expirations and find new tenants. Moreover, with stacking plan software brokers can:

• Generate up-to-date real estate stacking plans at once
• Eliminate spreadsheets
• Better represent how much space is available
• Simplify lease expiration tracking
• Identify tenants that require attention
• Reduce costs on stacking plan creation
• Focus on closing deals

Staking plan software helps you reduce the time needed to create a stacking plan real estate and makes sure it will contain up-to-date data (if you entered it into the system) so you will always have an up-to-date visualization of leased and vacant space.

Also, it significantly speeds up the process of real estate stacking plan creation on request. E.g., in AscendixRE CRM, you just need to make sure the system contains additional information about leases and availabilities.

Once it is done, you’ll be able to see the correct Stacking Plan, Export it to Excel or PDF.

“ The stacking plan feature is extremely beneficial to brokers who want to see a visual representation of tenancy in office buildings. Early on in my tenure with Ascendix, I was asked by a client to produce a stacking plan of their building. I was able to produce this plan within 24 hours because of the simplicity with importing lease information into Ascendix.  My client was happy with the quick turnaround time and producing the stacking plan would have been a much more difficult task if I wasn’t using Ascendix. ”

Cory LaDuke, an Associate Real Estate Broker at Pyramid Brokerage Cushman & Wakefield

(Cory didn’t have lease information entered that’s why it took him some time to format and import it first. Again, if you track all leases in the CRM, the stacking plan real estate is available right away.)

Learn in greater detail a CRM story by Cory LaDuke and why brokers should stop using Excel

AscendixRE Stacking Plan Overview

A stacking plan within AscendixRE, the commercial real estate CRM, is a feature that is available for AscendixRE Enterprise users at no cost. Instead of having your data in multiple sources, AscendixRE lets you create a stacking plan for any commercial real estate property in the system.

The best part is that once set up, the system will update real estate stacking plans automatically when you or your team add new lease, availability, or edit records.

We recorded a detailed overview of the real estate stacking plan functionality and how it works. Keep reading if you prefer text. If you have any questions, please feel free to contact us. Also, we’ll be happy to offer you a free trial so you can test it on your own!

Reduce manual work and focus on meaningful activities

AscendixRE is a simple yet powerful CRM that helps CRE brokers increase their efficiency. Get a demo.

Stacking Plan: Excel vs AscendixRE

Excel is a typical go-to solution used by CRE agents to keep track of the existing leases and the deal details. It is often utilized for data organization, financial analysis, and reporting, enabling agents to manage property portfolios, analyze market trends, and create insightful reports.

However, specialized software solutions (like AscendixRE) can optimize real estate stacking plans management and many other CRE operations without manually creating separate spreadsheets for each client or building.

AscendixRE offers tailored features like property management, deal tracking, client relationship management (CRM), and marketing automation, providing the possibility to effectively create stacking plans, visualize properties, manage spaces, streamline workflows, and drive successful deals.

Stacking Plan: Excel and AscendixRE Comparison

You can create a Stacking Plan Real Estate for any Property in AscendixRE.

In the image below you can see a Stacking Plan of our demo Property Preston Park Financial Center within a specific timeframe (highlighted).

You can always change the date forward or back to see that the stacking plan would change depending on the tenants at that time and the vacancies/availabilities.

AscendixRE Stacking Plan Interface (Click to Enlarge)

How to Create a Stacking Plan

To create a Stacking Plan for a particular property, simply fill in the Floors Above GroundAverage Floor Size (SF)  fields under the Floors section of the Property.

Make sure to enter Floors number and an Average Floor Size to Create a Skeleton of a Stacking Plan

When the floor information is added, go to the Stacking Plan  tab. Here you’ll see a skeleton of the Stacking Plan.

Newly Created Stacking Plan

At this point, you’ll need to populate the stacking plan with Leases/Tenants in the building, Vacant spaces.

To create a new Lease, click the corresponding button in the menu, enter the Unit Name/Number, and link to the Property.

Make sure to fill in:

• Floor – start typing Floor and the number of the Floor, e.g., Floor 2 and you’ll see it in the list
• Tenant (not obligatory)
• Commencement Date
• Expiration Date
• Other essential information

Creating a new Lease in AscendixRE

Once you click Save, the Lease will be added to the Stacking Plan.

To add a new availability, click New Availability button right on the Stacking Plan or Click the plus sign on the needed floor.

Adding New Availability

You’ll need to fill in the  Unit Name/Numbervacant space to add Availability to the Stacking Plan. Also, we recommend you fill in the Available from date  if the availability will happen in the future.

By default, all available space is in yellow. Leases will be color-coded based on the lease expiration date.

You can find the legend below the stacking plan under the LDX title.

Besides this, you can Export your Stacking Plan to Excel or to PDF. Then you can send it to your prospective tenants or use it for analysis.

Stacking Plan in Excel

That is! In a few clicks, you could easily generate stacking plans for every property.

Combine it with advanced workflows, lease expiration dates notification, and the ability to create highly targeted lists to call or email in AscendixRE and you’ll appreciate the value of this CRM software.

Commercial Real Estate Stacking Plan Software FAQ

What is a stacking plan.

A real estate stacking plan is a scheme showing the breakdown of tenant occupancy within a multi-floor building, detailing space occupation and tenant data. Stacking plans facilitate lease management, allowing for a clear view of tenant mix, efficient space usage reviews, and strategies for upcoming lease expirations and renewals.

What is a stacking plan in real estate?

A stacking plan in real estate is a dynamic visualization tool displaying occupancy status and tenant details across a building’s floors. Crucial for real estate professionals, it enhances leasing strategies, space optimization, and decision-making, improving overall property management effectiveness.

What is the difference between a stack plan and a floor plan?

A stack plan and a floor plan in real estate are similar, but they serve different purposes. A floor plan is a detailed layout of a single floor in a building , showing the arrangement of rooms, walls, doors, windows, and other relevant details. It provides a visual representation of the spatial layout and dimensions of a single level. On the other hand, a stack plan illustrates the vertical arrangement of multiple floors within a building  and is typically used in apartment complexes or office buildings. It helps visualize the relationship between different floors or units, including their positioning, size, and allocation within the structure.

Chris is a Salesforce-certified administrator with 7+ years of experience in Salesforce consulting services, administration, app integration, organization of clients' trainings and data analytics and migration. She is also an author of multiple CRM guides and trainings for Salesforce admins and users. In Chris' former life, she lived in NYC, traveled the world, went skydiving, and swimming with sharks. She can now be found in a Texas suburb with 3 kids, escaping the heat at a nearby pool.

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Proposed ordinance would speed the way toward more affordable housing in detroit.

Nick Manes is a reporter covering residential real estate and local mortgage companies for Crain’s Detroit Business. He previously covered finance and tech startups. He joined Crain’s in 2020 after six years as a reporter at MiBiz.

The administration of Detroit Mayor Mike Duggan is further dangling carrots in its efforts to spur more affordable housing in the city.

Duggan on Tuesday unveiled a new proposal that aims to shorten and simplify the regulatory landscape for affordable housing developers while also expanding property tax abatements to developers who commit to 15 years of affordable housing, with more significant abatements for those with deeper affordability. 

The proposed ordinance — called the Fast Track PILOT — requires approval by City Council but already has the backing of four out of nine members. 

Duggan's administration, now in its third term, has in recent years pushed for greater amounts of affordable housing, generally defined as housing in which an occupant is not spending more than 30% of their overall income.

Earlier this year, Duggan announced that the city had surpassed $1 billion invested in such housing in the city, coming from a total of 71 developments consisting of 4,646 units. 

“We have built or preserved $1 billion in affordable housing units in the last 5 years, but the way our population is growing and rents are rising, we have to build another $1 billion to keep long-time Detroiters from (being) priced out of the city,” Duggan said in a Tuesday news release announcing the proposed ordinance.  "The Fast Track PILOT ordinance will allow us to do that.” 

The proposed ordinance in Detroit is based off of state laws that took effect last year which, in part, expanded the use of payments in lieu of taxes, or PILOT. 

The legislation allows 15-year tax breaks — with a possibility of a 15-year renewal — making it much easier for builders to get 30 years financing to build new housing. The laws also eliminate the requirements of multiple legal hurdles at the state and local levels. 

PILOTs have already been available in the city but in a limited manner. 

The goal of the plan, according to city officials, is to offer greater tax incentives for greater housing affordability. 

Under the proposed ordinance, developers of a one-bedroom apartment renting for $500-$900 per month for those earning 60% of the area median income — around $39,000 or less per year — would pay an estimated $100 per year as opposed to $600 under the original tax structure.

In another example, the Duggan administration says an owner committing to rent a one-bedroom unit at $900-$1,400 per month for those earning less than $52,000 per year would pay $300 per year compared to the original tax of $3,200 per year. 

Perhaps just as important as the tax incentives are the initiatives to speed up development. 

Numerous affordable housing developments in the city linger for months or years going through approvals before they can open and begin generating revenue for an owner. 

In short, supporters of the proposed ordinance say it would cut the number of steps to approval for affordable housing developments in Detroit and thus cut the time from 8-10 months to one-two months if developers agree upfront to 15 years of reduced rent for tenants.

“The need for affordable housing in our city is urgent and ongoing, so we must implement a lasting solution rather than depend on one-time or uncertain funds,” City Council member Fred Durhal said in the release. “Detroiters deserve real access to affordable housing, and I’m proud to sponsor the PILOT ordinance to help build more affordable homes efficiently.”

The ordinance also has the support of Council President Mary Sheffield, as well as members Mary Waters and Coleman Young. 

The draft ordinance will be introduced to City Council next Tuesday and Duggan hopes the PILOT plan will be approved by the end of the year so developers can begin applying in early 2025.

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The Truth Behind Trump Tower Moscow: How Trump Risked Everything For A (Relatively) Tiny Deal

This story appears in the June 30, 2019 issue of Forbes Magazine. Subscribe

I t’s getting late, and Felix Sater—a onetime Trump partner, two-time convicted felon and longtime government cooperator—sits in the back of a New York City restaurant, ready for a drink. “A very dirty martini, Russian vodka,” he tells the waiter. “A collusion martini.”

No one outside of the Trump Organization has more firsthand knowledge of Donald Trump's connections to Russia than Felix Sater. In 2006, he scouted a potential deal in Moscow with the president's children Don Jr. and Ivanka. In 2007, he stood alongside Trump at a launch party for a hotel Sater had helped get built, Trump SoHo, which marketed partially to Russian buyers. And during the 2016 presidential campaign, Sater helped plan a giant Trump tower in Moscow.

"Here's to fun times," he says, hoisting his martini glass in the air.

Fun times indeed. Special Counsel Robert Mueller's 448-page report highlights three separate proposals to develop a Trump property in Moscow around the time of the election. Yet key details have remained vague. Forbes got in touch with the people at the center of all three—and uncovered concrete answers to fundamental questions about Trump's plans in Russia.

Three years ago, Michael Cohen was working on a potential Trump tower in Moscow. Today he is in prison for crimes that include lying to Congress about the project.

Such as who was actually going to pay for the project. Trump, now more of a licensor than builder, certainly wasn't planning on putting in much of his own money. And according to Sater, who brokered the proposal that extended furthest into the campaign, nor was Trump's official partner, Andrey Rozov. Instead, Sater says, he was cooking up a plan to raise huge sums from additional investors, including two of Vladimir Putin's closest cronies, Boris and Arkady Rotenberg . "We would have gone to them and asked them for four or five hundred million dollars cash," Sater says.

Another big, previously unsettled question: How much money could Trump have made in all of this? Both Mueller and former Trump attorney Michael Cohen have suggested, vaguely, "hundreds of millions." After mining business agreements and surveying real estate experts in Moscow, however, Forbes believes that's almost impossible. It seems more likely that Trump would have walked away with roughly $35 million up front and $2.6 million or so in annual fees, if everything went according to plan. In the rosiest of scenarios, Sater says, Trump could have gotten about $50 million. A lot of money to most people but less than 2% of the president's net worth ( estimated at $3.1 billion ).

Taken together, these revelations paint a new picture of Trump's plans in Russia and the president's way of doing business. His deal came with far greater risk—and far less reward—than previously understood. In short, candidate Trump jeopardized his eventual presidency on a middling deal and one that would have had Vladimir Putin's fingerprints all over it.

P art of the reason the Trump Tower Moscow narrative confuses people: There were three different attempts to attach the president's name to a Russian property in recent years. The first one emanates from the infamous 2013 Miss Universe contest, where 86 women strutted through a Moscow concert hall. Donald Trump, the co-owner of the pageant, took home the money, collecting an estimated $3 million from the local hosts: billionaire real estate tycoon Aras Agalarov and his son Emin, a pop singer. "I had a great weekend with you and your family," Trump tweeted afterward, tagging the elder Agalarov. "You have done a FANTASTIC job. TRUMP TOWER-MOSCOW is next."

One month later, in December 2013, the Trump Organization signed an agreement to brand an Agalarov property in Moscow, according to the Mueller report. The plan eventually called for 800 apartments near the concert venue that hosted the Miss Universe event, with 3.5% of sales going to Trump. If the whole building sold out, Emin Agalarov estimates Trump would have come away with $17 million or so.

2013 Miss Universe Pageant. Miss Venezuela took home the crown, but Donald Trump took home the money, collecting an estimated $3 million for bringing the pageant to Russia

Trump's daughter Ivanka toured the site in February 2014. That same month, though, the geopolitical landscape was shifting. Crowds were in the streets of Kiev, protesting Ukraine's Russia-friendly president, Viktor Yanukovych. He ultimately fled Ukraine, reportedly with the help of Putin. Within weeks, Putin sent soldiers into Crimea, a Ukrainian region neighboring Russia, effectively taking over. The landgrab sparked outrage in the international community, and the United States retaliated with economic sanctions.

Those measures, combined with falling oil prices, crippled the Russian economy—including the Moscow real estate market. The average price of new apartments plummeted an estimated 30% in 2014. Condos were selling for less than the cost of construction. Even in the unlikely event that the Agalarovs managed to build something amid all the turmoil, Emin Agalarov tells Forbes that Trump's payout would have been cut in half. Communications between the Trumps and the Agalarovs began to fade in the fall of 2014, according to the Mueller report. Donald Trump Jr. later told the Senate Judiciary Committee the project died because of "deal fatigue." A more likely cause of death: U.S. sanctions.

Who's Who In Towergate

With donald trump on one end and vladimir putin on the other, the web of people involved in trump's plans for moscow included members of the first family, oligarchs and russian officials..

In November 2015, Donald Trump, by then a presidential candidate, sat down with former Fox News host Bill O'Reilly, who challenged him over his accommodating stance toward Russia. "[Putin] doesn't make deals," O'Reilly reasoned. "He just rolls soldiers in to cause destruction and shoots down airplanes."

"Well," Trump replied, "he does what he has to do."

Unbeknownst to the American public, the Trump Organization, which did not respond to requests for comment on this story, was secretly communicating about a second potential deal in Russia around the same time. In September 2015, nearly a year after the Agalarov partnership dropped off, and with Trump now leading the Republican primary race, his lawyer Michael Cohen traded messages with a man named Giorgi Rtskhiladze, according to the Mueller report. Cohen and Rtskhiladze had previously worked together on business in the former Soviet states of Georgia and Kazakhstan.

Rtskhiladze sent Cohen a draft of a letter ultimately intended for the mayor of Moscow, which pitched a Trump development as a symbol of strengthening ties between the United States and Russia, according to the Mueller report. "[The mayor] is aware of the potential project and will pledge his support," the note said, according to the report.

Today Rtskhiladze says he was just passing along the message on behalf of a longtime friend and that friend's acquaintance. He claims the letter never made it to the mayor. And he suggests he's not even sure if what he sent Cohen was accurate. "I don't know if it's true or not if [the] mayor's office was ever notified, okay."

That's how it goes in Russia, a place where trust is in short supply and outsiders can suddenly find themselves in unnerving situations. Rtskhiladze says he had previously warned Cohen of the risks: "You have to be careful who you get involved with."

C aution, however, is not the Trump way. Cohen dismissed the Rtskhiladze plan and chose to pursue a third proposal, brokered by a man with a checkered past: Sater. Moscow-born, Brooklyn-bred, Sater started a career on Wall Street, until a bar fight—he stabbed a man in the face with a margarita glass—led to 15 months in prison. Three years after his release, he pleaded guilty to racketeering in a mob-connected pump-and-dump stock scheme. He stayed out of prison this time by working with the feds, ultimately supplying information about the Mafia, North Korea, Russian cybercriminals, even Osama bin Laden. At Sater's sentencing, about a decade after he began cooperating with the government, FBI agent Leo Taddeo, one of Sater's handlers at the bureau, credited him with helping pave the way for law enforcement to "basically eliminate" the mob from Wall Street's penny stock business. Former FBI official Ray Kerr adds: "There was nothing he wouldn't do or wouldn't try."

At the same time that he was serving as a government cooperator, Sater reinvented himself as a real estate dealmaker. It was in that role that he ended up working with the Trump Organization, on projects in Arizona, Florida, New York and, ultimately, Russia. For the Moscow effort, Sater served as both broker and dealmaker. His friend Andrey Rozov, who did not respond to our request for comment, was officially the local developer in Russia, but Sater says he expected a cut for himself as well. Trump signed the letter of intent, dated October 28, 2015, the same day as the third Republican presidential debate.

Felix Sater (right) stands alongside Donald Trump and Tevfik Arif at the Trump Soho Launch Party on September 19, 2007 in New York.

The tower was meant to be the tallest building in Europe, featuring a few floors of prime shopping, a high-end hotel and new office space, topped with 250 luxury residences, homes for the Russian elite. According to the terms, Rozov was on the hook for construction while Trump would simply lend his name and help manage the place once it opened. In exchange, according to the Mueller report, the presidential contender would get a cut of condo sales, beginning with 5% of the first $100 million and gradually stepping down to 1% of everything over $1 billion. Sater says each unit would have been about 2,500 square feet, far larger than the typical luxury condo in Moscow. They were targeting a price of about $1,500 a square foot, about 30% above the average for luxury apartments in town. If all went well, Trump would have walked away with an estimated $34 million from condo sales and upfront fees. Big money, sure, but nothing life changing for a guy worth $3.1 billion.

To juice the numbers, Sater says, he wanted to give away a penthouse to Putin. On top of the terrible optics, this could have put the Trump Organization in danger of violating the Foreign Corrupt Practices Act, which bans American companies from bribing foreign officials. Sater says the plan was not meant to entice the Russian president. "You've got to have a billion dollars for [Putin] to take you seriously," he says. "It's good for Congressman [Nancy] Pelosi or [Adam] Schiff to say that, but in the real world, Vladimir Putin ain't getting bought with a penthouse." When contacted, a representative of Putin deflected questions, saying, "We believe that you should address to relevant authorities, not to the press office of the president of Russia."

To Trump small amounts of money matter—the tower agreement details the slices he could shave off every year, including hotel management fees (an estimated $1.3 million), office rents (est. $240,000), residential management fees (est. $225,000), spa operations (est. $75,000) and so on. Add everything up and Forbes figures Trump could have gotten an additional $2.6 million annually—math verified by Sater, who confirmed an Excel spreadsheet that details the projected payments line by line.

Count enough years and it's theoretically possible to get to any number: $13 million over 5 years, $67 million over 25, $94 million over 35. Regardless, even with the condo deals, it wasn't really close to the "hundreds of millions" Cohen and Mueller cited.

R obert Mueller did not find collusion to steal the 2016 election—but he did find evidence of collusion to try to make money. Sater and Cohen did the work on the ground, rubbing elbows with oligarchs and Russian-government entities.

In sworn testimony before Congress, Cohen left no doubt about who was ultimately in charge: "To be clear, Mr. Trump knew of and directed the Trump Moscow negotiations throughout the campaign and lied about it."

There was good reason to lie, given the cast of characters involved. On October 9, 2015, before Trump had even signed the letter of intent, Sater wrote that he was meeting with Andrey Molchanov , a former member of the Russian senate who controlled a plot of land that could work for the tower. Three days later, Sater claimed the chairman of VTB, a Kremlin-controlled bank on which the U.S. imposed sanctions, was "on board" with the project. A spokesperson for VTB said the bank never dealt with Sater or his affiliates in Russia. Ultimately, Sater secured an invitation to Russia from a different bank, days after it had also landed on the U.S. sanctions list.

“You've got to have a billion dollars for [Putin] to take you seriously. It's good for Congressman [Nancy] Pelosi or [Adam] Schiff to say that, but in the real world, Vladimir Putin ain't getting bought with a penthouse.” Felix Sater

Then there was Sater's plan to get billionaire brothers Arkady and Boris Rotenberg to invest hundreds of millions in the project. From a political standpoint, it would be hard to think of a more problematic pair to bring into a deal with a U.S. presidential candidate. Arkady Rotenberg has known Vladimir Putin since childhood, when they were judo partners. He and his brother are now among Russia's richest people, worth an estimated $3.7 billion combined, with interests in banking and construction. Arkady Rotenberg's companies got $7.4 billion in government contracts for the 2014 Olympic Games in Sochi, over $5 billion for the 2018 World Cup (which Russia hosted) and more to build a bridge connecting Russia and Crimea. In 2014, the U.S. Treasury Department sanctioned both brothers, identifying them as members of Putin's "inner circle." The Rotenbergs did not respond to our request for comment.

The same thing that made the Rotenbergs targets of the U.S. government—their ties to Putin—made them appealing to Sater. In his mind, if he could get Putin's associates to invest $400 million or $500 million, then the Russian president would surely greenlight the project—a key step in a country where the government calls the shots on major real estate developments. Trump would have theoretically had to sign off on bringing in the Rotenbergs or anyone else who wanted a piece of the action. "Everybody was going to make money on this," Sater says. "And at the end of the day, some schmuck from Vladivostok with a lot of money would have put up all the money."

It is not clear whether Trump knew about the plans to give Putin a penthouse or his cronies a chunk of the deal. Which is remarkable in itself. A presidential candidate delegated a radioactive deal, in a hostile foreign country, to a former convict (Sater) and a soon-to-be convict (Cohen).

Virtually every part of their plan involved Putin or someone close to him. The equity? Putin's boys. The debt? Kremlin-connected banks. The land? A Putin ally. The approvals? Government entities. The marketing? Putin himself. Look at Trump Moscow long enough and it gives the impression it was less of a deal between Trump and a random Russian and more of a deal between Trump and Putin.

I t also came with a lot of bluster. By December 2015, Trump's men still had not locked in a plot of land. Or financing. Or investors. And Cohen was waiting on an official invitation to Russia. "I will not let you f--- with my job and playing point person," Cohen texted Sater between Christmas and New Year's, according to correspondence first released by Buzzfeed and confirmed by Forbes . "I still have no numbers from anyone who is allegedly involved in this deal, other than the fact I will have whatever invite I need within 48 hours. Not you or anyone you know will embarrass me in front of Mr. T when he asks me what is happening."

Cohen told Sater he was done working with him, and the text stream devolved into something like a souring love affair. "Please don't do this, Michael," Sater wrote.

"We're done," Cohen responded. "Enough. I told you last week that you thinking you are running point in this is inaccurate. You are putting my job in jeopardy and making me look incompetent. I gave you two months and then best you send me is some bull---- f------ garbage invite by some no name clerk at a third-tier bank. So I am telling you enough as of right now. Enough! I will handle this myself."

Kiev Protests. Political turmoil in Ukraine led to a Russian takeover of Crimea, which in turn prompted U.S. sanctions against Putin’s regime. Those measures put a dent in Moscow’s real estate market—and Trump’s potential windfall.

Cohen, who did not respond to a request for comment on this article, reached out to the office of Putin's press secretary, Dmitry Peskov. On January 20, 2016, he heard back from Peskov's assistant. They talked for 20 minutes about a tower in Moscow, and Cohen came away impressed, according to the Mueller report. Cohen updated Trump, remarking that it would be nice if the Trump Organization had assistants who were as good as the Kremlin's, the report says.

Sater texted Cohen the next day. "Call me when you have a few minutes to chat," he wrote. "It's about Putin. They called today."

Money has a way of repairing relationships. Cohen and Sater eventually sketched out plans to travel to Russia. Cohen talked to Trump about it, and the candidate said he would be willing to go as well, so long as Cohen could "lock and load" on the deal, according to the Mueller report. Cohen settled on a rough timeline: "My trip before Cleveland," he texted Sater, referencing the Republican National Convention. "Trump once he becomes the nominee."

On May 5, 2016, Sater followed up with Cohen, offering promising news. "Peskov would like to invite you as his guest to the St. Petersburg Forum, which is Russia's Davos. It's June 16-19. He wants to meet there with you and possibly introduce you to either Putin or [Russian prime minister Dmitry] Medvedev."

But Sater was apparently bluffing. He now says he never actually had an invitation from Peskov, although he was confident he would meet some heavy hitters at the conference. When the Peskov invitation failed to materialize, Cohen called off the trip, according to the Mueller report, and checked in with Trump. But he did not tell the boss the deal was off, since there still seemed to be a chance it could come back to life in the closing months of the campaign. Or possibly afterward, when Trump would return to just being Donald Trump, private citizen.

What ultimately killed Trump Moscow was not all the bluster, nor the ties to Russian oligarchs, nor even the limited financial upside. When asked why the deal ended, in a sworn congressional hearing, Cohen pointed to one part of the plan that went awry: "He won the presidency."

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Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More

By James Mathew

More of this topic

UAE, Saudi corporates leverage AI-based HR tech for international expansion  

In the GCC – mainly in the UAE and Saudi Arabia – 6 out of 10 CHROs plan to invest significantly in HR tech in 2024, with 37% focusing on AI technologies to address talent shortages and skill development

Corporate majors and organisational biggies in the UAE and Saudi Arabia are roping in modern HR (Human Resources) platforms, besides investing heavily in AI—based HR tech as they grapple to put in place a future-ready, skill-based workforce for their ambitious regional and international expansion.

The surge in investments for HR tech is spurred by the need for identifying and cultivating the right mix of skills, with a focus on skill mapping and development to meet evolving demands becoming mission critical for companies’ expansion plans, industry experts and company insiders told Arabian Business.

In the GCC – mainly in the UAE and Saudi Arabia – 6 out of 10 CHROs (Chief Human Resources Officers) plan to invest significantly in HR tech in 2024, with 37 percent focusing on AI technologies to address talent shortages and skill development, they said.

Modern HR tech platforms help companies and organisations to convert vast amounts of employee data into actionable insights, improving hiring, talent development, and career progression strategies.

Revealed: 100 best places to work in the Middle East 2024

“Generative AI is set to become a force multiplier in HR over the next 2 to 3 years,” Mrigank Tripathi, President – Growth at PeopleStrong, a leading HR tech platform operating in GCC and India, told Arabian Business .

“Role of AI in HR will increasingly become highly important as meeting skill demands is critical in laying the foundation of a future-ready workforce, especially as organisations expand into new markets,” he said.

Tripathi said relying solely on external hiring is costly and risky, making internal skill development and capability-building essential for creating a robust talent pipeline.

Senior HR executives at some of the UAE-based companies confirmed their plans to make significant investments to improve their tech capabilities to meet specific talent hiring capabilities and employee re-skilling programmes.

Companies shunning traditional job-based approach for skill-based talent management

Industry experts said UAE and Saudi companies across several sectors are increasingly shifting from the traditional job-based mode to a skills-based approach in talent management to keep up with rapid growth and increasing skill demands.

Companies now conduct skill mapping exercises to evaluate existing capabilities and identify gaps.

Additionally, by forecasting future needs, they draw up blueprints to pinpoint skills that are critical but currently lacking.  

“We’re already seeing its [AI applications] impact in areas like recruitment, onboarding, exits, and even payroll,” Tripathi said.

“For example, an AI agent can manage recruitment from uploading job descriptions to screening thousands of CVs and shortlisting the top candidates, drastically increasing efficiency,” he said.

Corporate insiders said the strategy involves two key steps: first, understanding the current skill levels within the organisation, and second, developing and executing a plan to address skill gaps.

“This skills-based approach integrates recruitment, talent development, and retention, ensuring decisions are driven by skill growth,” said a senior HR executive at a Dubai-based tech startup, who wished not to be identified.

The executive said another major shift currently underway is in creating meaningful career journeys.

“Today’s employees seek more than just competitive pay; they want enriching, challenging experiences that lead to long-term engagement,” she said.

Tripathi said managing personalised talent programmes requires strong technological support.

He said PeopleStrong’s ‘TalentOS’, an AI-driven system built on a skill cloud, offers real-time skill insights and embeds skills across the employee lifecycle, enabling data-driven, strategic talent management decisions.

AI, automation help real-time, continuous employee performance feedback

Industry experts said meeting skill demands is emerging critical for several corporate biggies in the GCC region, especially in the UAE and Saudi Arabia, as they are currently gearing up for their next stage of growth – expanding into new markets.

They said making internal skill development and capability-building will be essential for creating a robust talent pipeline for companies in the region for pursuing their ambitious overseas expansion plans as relying solely on external hiring is costly and risky.

Improving manager and employee efficiency is another major challenge identified for successful implementation of international expansion plans.

Company insiders said going forward, the focus will be on real-time, continuous employee performance feedback.

“Leaders need real-time insights into goal progress. This is where modern HR tech platforms play a key role, as their performance dashboards provide real-time data from work-tech systems, enabling continuous tracking and adjustments,” a senior corporate executive said.

“As a result, HR and business leaders are increasingly looking for more effective ways to manage performance,” the executive said.

The PeopleStrong senior executive said as the UAE and Saudi Arabia have become two of the most vibrant job markets, especially post-pandemic, skill-building has of late emerged as a top priority for CHROs and business leaders.

“A unified, skills-based talent strategy relies heavily on technology to be effective,” he added.

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James Mathew, preferred to be addressed as James, assumes the role of India Correspondent at Arabian Business from New Delhi, bringing to the table a wealth of knowledge and expertise in economic, financial,... More by James Mathew

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Trump Rolls Out His New Cryptocurrency Business

In a livestream, Donald Trump formally introduced World Liberty Financial, a crypto venture led by two digital currency entrepreneurs with little experience running high-profile businesses.

By David Yaffe-Bellany Sharon LaFraniere and Matthew Goldstein

A day after an apparent assassination attempt against former President Donald J. Trump, he appeared on a livestream on Monday to champion his latest business venture: cryptocurrencies.

“Crypto is one of those things we have to do,” Mr. Trump said on X. “Whether we like it or not, I have to do it.”

Beside him were his collaborators, including a family friend; Mr. Trump’s two oldest sons, Donald Trump Jr. and Eric Trump; and two little-known crypto entrepreneurs with no experience running a high-profile business. Together, they were rolling out Mr. Trump’s crypto venture, World Liberty Financial, a project that has already raised concerns about the former president’s conflicts of interest and even alarmed some of his most vocal supporters in the industry.

Mr. Trump has promoted the venture since August, but its exact purpose remains unclear. No official launch date has been set. On the livestream, he did not address the project directly, leaving the details to the two entrepreneurs, Chase Herro and Zachary Folkman. Mr. Herro has described himself as “ the dirtbag of the internet ,” while Mr. Folkman used to teach classes on how to seduce women.

It’s highly unusual for a presidential candidate to embark on a new business just weeks before Election Day, and even rarer for one to aggressively promote a venture designed to benefit himself and his family. But throughout his political career, Mr. Trump has engaged in business dealings that ethics experts have flagged as problematic. He is the majority owner of Trump Media & Technology Group, the publicly traded parent company of his social media platform, Truth Social, which accounts for some $2 billion of his personal wealth.

Danielle Brian, executive director of the Project on Government Oversight, a nonpartisan watchdog group, said that if Mr. Trump was elected in November, his involvement in the crypto venture would create serious conflicts of interest. The Securities and Exchange Commission has cracked down on the industry, arguing that nearly all cryptocurrencies are unregistered securities and ought to be regulated like stocks traded on Wall Street.

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