As we approach the end of 2021, it’s important for real estate agents and brokers to start planning and strategizing for the new year ahead. Writing a solid and achievable business plan is crucial for ensuring that your goals are met, your real estate relationships flourish, and your business continues to grow year over year.
Here are a five tips for developing a strong business plan that will guide you and your team through 2022.
1. Develop a mission statement
Begin planning for the year ahead by brainstorming your team’s mission statement. Ask yourself and your team what you want to accomplish, what new milestones you want to achieve, and what kind of growth you want to see.
Your answers will allow you to identify your team’s collective vision for the year and home in on a mission statement that aligns with that vision.
2. Set goals
Setting micro and macro goals is an essential part of developing your business plan. Just like with your mission statement, think about what you want to achieve daily, weekly, monthly and quarterly.
Once you’ve identified the goals you’d like to accomplish throughout the year, shift your focus to the most important element of this exercise: identifying ways to bring those goals to fruition.
Do this by writing out in detail each step you’re going to take and whatever method you’re going to employ to make each goal a reality. This could be door-knocking to gain new business, selling a certain amount of homes a quarter or making 12 calls a day to potential clients.
Whatever your goals are, you must ensure that you’re zeroing in on an effective course of action that will take you straight to the finish line.
3. Dream big, but be realistic
It’s important to dream big, huge even, especially when building your business. Setting lofty short- and long-term goals will ultimately help inspire you and your hustle.
However, it’s also important to remain realistic and move at a pace that works for you. Your business will grow over time and evolve organically, so don’t set yourself up for failure by trying to outpace your competitors.
4. Hire a business coach
Many agents hire a business coach to help get themselves organized for the year ahead. This can be a great option if you need guidance on how to properly set goals and structure your business.
A coach can help you maintain focus, provide invaluable assistance and offer meaningful advice as you begin to plan for a new year. A coach can also help you take full advantage of networking and growth opportunities while strategizing the best ways to navigate any choppy waters those news opportunities might bring your way.
5. Make upgrades
Looking for new ways to improve and elevate your business is key, and the beginning of the new year is a great time to evaluate your services and identify opportunities to boost your offerings where possible.
This might look like upgrading to a more advanced CRM system or investing in enhanced social media monitoring tools. Trying out new, attention-grabbing techniques with listing videos is another option.
Keep your technology updated without lessening your customer service. Never forget that elevating the customer experience is always going to make you stand out, and technology should be used to enhance your presence, not replace it. Keeping this in mind will allow you to showcase even more value to existing clients and prospects in the new year.
When creating your 2022 business plan, considering your vision, goals and growth strategies is imperative. From developing an inspirational mission statement and writing tangible ways to reach your objectives, to hiring a business coach and upgrading your tech arsenal, the steps to having a productive and successful new year are in your reach, and 2022 is yours for the taking.
David Parnes is a director at The Agency in Los Angeles. Connect with him on Instagram. James Harris is a director at The Agency in Los Angeles. Connect with him on Instagram.
