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How to Evaluate Your Real Estate Business for Scaling and Growth Opportunities

Posted by Brian Lim

Jul 8, 2020 5:00:00 AM

Aren’t you tired of being too busy? You might be overextending yourself by working 12-hour days and performing every aspect of running a real estate business - while squeezing in time with family. It might feel like you’re drowning in work, barely keeping your head above water. Since you’re spreading yourself too thin, you might provide a poor experience for your clients, since you’re unable to give them the time and attention they deserve. Don’t they deserve the best?

Plus, businesses are reopening and yours might be experiencing a flood of buyers as if a dam burst. If your market hasn’t experienced an increase in sales, it will as consumers regain spending confidence. According to a HousingWire article, “U.S. Pending home sales surged a record 44% in May.” We should see similar increases as summer progresses, which means your flood of work is only to rise.

But hey, it’s better to drown in work than to have no work at all, right? True, but you can have a heavy workload without feeling like you’re drowning, and you don’t have to sacrifice your personal life or your family to succeed as a real estate professional. You can have it all, just work smarter.

If you’re drowning in work, can’t give your clients the attention they deserve, and can’t find free time for yourself or your family, that’s a good indicator it’s time to scale your real estate business. Why? By scaling your business, you can reassess your processes and create the infrastructure necessary to properly manage and facilitate its growth. If you scale successfully, you’ll increase your income, have more time for clients, family, or yourself, exert less energy on less important tasks, and ultimately increase your market share in your area.

In this article, I will share ways to evaluate your business, provide tools to help you forecast and project your real estate business’s growth, and offer tips for planning for the future:

  1. How to Forecast Your Real Estate Business’s Annual Sales Growth
  2. How to Forecast Your Real Estate Business's Expenses 
  3. How to Forecast Your Real Estate Business’s Profits
  4. Download the Sales Growth, Expenses and Profits Forecast Calculator to help you forecast sales growth and revenue over 5 years >>>
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Topics: Brokers

4 Tips to Improve your Time Management for Real Estate Agents

Posted by Nicole Finzi

Jul 7, 2020 8:58:00 AM

As a busy real estate agent, having good time management is necessary in order to be successful. While sticking to a routine is highly important, what is more important is being able to have a flexible schedule because as you know, anything can change at the drop of a hat.

Table of Contents

  1. Create daily to do lists
  2. Use a calendar
  3. Batching
  4. Time-blocking

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Topics: Practical Advice

Why Real Estate Agents Still Need a Facebook Business Page

Posted by Pacifico "PJ" Ortiz Luis

Jul 2, 2020 7:12:00 AM

Real estate is all about building personal connections, and those relationships you create today are the commissions you earn tomorrow. So then, why should you NOT use your personal Facebook profile for real estate?

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Topics: Social Media Marketing, Buyer & Seller Insights

The Top 5 Reasons Real Estate Agents Get Sued

Posted by Nicole Finzi

Jul 1, 2020 8:53:00 AM

As a real estate agent, making a mistake can lead to legal trouble if you aren’t careful. Being an agent requires you to keep track of sensitive client information and meet deadlines for those clients without letting anything slip through the cracks. Even the slightest mistake can cost you your career. While accidents are inevitable, it is important to know what real estate mistakes you should try to avoid.

Table of Contents:

  1. Failing to disclose a defect
  2. Misleading
  3. Breach of contract
  4. Bodily injury
  5. Selling in unfamiliar territory

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Topics: Practical Advice

5 Real Estate Marketing Metrics to Help You Grow Your Business

Posted by Irina Jordan

Jun 25, 2020 7:00:00 AM

Not all metrics are created equal. So, while online marketing continues to promote an ultra-competitive environment for real estate agents, it’s becoming increasingly important for you to gain every advantage possible from data-driven marketing metrics.

Many real estate marketing metrics are too narrowly focused and miss the big picture. I’ve put together five unique metrics that supplement for this lack of clarity and are designed specifically to help you grow your business.

Table of Contents:

  1. Effort by Lead Source
  2. Time Per Engagement Activity
  3. Average Time Spent to Gain a Face-to-Face Meeting
  4. Percent of ‘Active’ Database
  5. Days Since Last Touch
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Topics: Practical Advice, Building Your Brand

4th of July Real Estate Marketing Ideas for 2020

Posted by Pacifico "PJ" Ortiz Luis

Jun 23, 2020 7:00:00 AM

2020 is a wild year isn't it? Gone are the days when you can shake the hand of any potential prospects and high five them as a way to build rapport. Independence Day will be slightly different to, as cities will be trying to avoid large gatherings. For the year of 2020, here are some real estate marketing ideas you can benefit from:

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Topics: Buyer & Seller Insights

Connecting Online: Personalized Conversation + a Tech-Forward Approach

Posted by Brian Lim

Jun 16, 2020 6:17:04 AM

Check out the new article just published in RISMedia featuring our very own Jack Markham!

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Topics: Brokers

5 Ways to Improve Cold Calling Real Estate Prospects

Posted by Pacifico "PJ" Ortiz Luis

Jun 10, 2020 2:45:26 PM

With the economy slowly opening back up, many real estate agents can get back to work. Some may have used this as an opportunity to improve their online presence. Some may have used this to practice their cold calling skills. If you did not practice your phone skills, this article is for you.

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Topics: Buyer & Seller Insights

Is a Virtual Real Estate Assistant the Right Fit for Your Scaling Strategy?

Posted by Brian Lim

Jun 10, 2020 8:00:00 AM

Taking the leap from real estate agent to broker isn't easy. If it was, everyone would do it and succeed. Scaling a real estate business takes time, energy, and money: It'll take time to assess your business to find opportunities for growth, it takes energy to vet and hire staff, and it takes money to purchase new technologies to support your business's growth.

In this article, we'll discuss...

  1. Is the Timing Right To Hire A Virtual Assistant?
  2. The Pros and Cons of Hiring a Virtual Real Estate Assistant?
  3. How To Hire the Right Virtual Real Estate Assistant
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Topics: Brokers

5 Weaknesses That Make Real Estate Agents STRONG

Posted by Pacifico "PJ" Ortiz Luis

Jun 4, 2020 7:56:05 AM

Do you ever feel that the skills you might be lacking are also causing you to lose potential real estate business? Just remember, these characteristics are neither good nor bad. This means your perspective can help mold what kind of real estate agent you want to be.

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Topics: Buyer & Seller Insights

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