The recent Superbowl was the perfect opportunity to introduce football into the discussion about business planning for your real estate business.
I love football and real estate. In the 1990s Bill Walsh, the San Francisco 49ers head coach, was the patriarch of the West Coast offence: they used the passing game to set up the running game, the opposite of conventional football strategy. Opposing players knew what to expect from the West Coast offence but it was difficult to defend. Why? It was fewer sets of plays run perfectly. The beauty and success of the offence was its simplicity.
Success is a relative term and in business planning, like football strategy, you design, implement and reap success by your own definition, whether it is volume sales, being a top producer, time with family or on the golf course, retirement at 60 or all of the above. Business planning is your tangible, hard copy, written strategy for personal and professional success. A business plan gives you consistency, ability to think critically, reference points to compare and focus. Most importantly it gives you more confidence to compete in a tough industry and an edge over your competition, particularly if your competitors don’t make a business plan.
Business planning has five primary components: purpose, recap of previous year’s metrics, goals and objectives, projections and tactics.
Can you answer this question from a potential client: Why should I list with you? It is the same as asking “Why are you a Realtor?” or even “Who are you?” It is challenging because the answer defines you. When you sit down and outline your purpose as part of your plan, then the answer becomes ingrained. Accountable, honest, good listener, thoughtful and strong communicator all form part of your purpose but you need to add elements such as closer, systems-driven, problem solver and experienced, for example. Real estate professionals incorporate these elements on a daily basis but they do not talk about them much, nor do they realize they form an integral part of a business plan.
We represent an industry that holds the transcendent qualities that define human beings: human interaction and relationships. Our purpose is to add value to our clients’ lives that is imparted through trust, leadership and reliability. When compiled reflectively and thoughtfully, your purpose is the basis for your success. When you are successful, the money follows. Simple.
Rob Grey was licensed in 1991, has completed the managing broker course, sits on the VIREB Professional Standards Committee and has operated a successful real estate team since 2002. Rob Grey, Personal Real Estate Corporation operates at Re/Max of Nanaimo in B.C.
