Many people who open real estate agencies expect it to be easier than it eventually turns out to be. Many suffer from the Field of Dreams thinking, “If you build it, they will come”. That doesn’t happen very often.
It does not take long for agency owners to realise that Get Rich Quick is not a plan. Most times, business is a hard slog, which can be made harder by a lack of planning and a lack of training.
In almost three decades as a real estate agency profit consultant™, I have seen few agencies that have a business plan. While get rich quick is not a plan, neither is it smart to have no plan at all – at least if you want to become financially independent through your business!
If by now you have realised that get rich quick is not a plan, and if you do not have a business plan at all, may I ask, are you happy with the profits you make from your residential sales department?
Now, take out your own PERSONAL PRODUCTION. Are you still happy?
If you are not happy, this means that your sales department would not be profitable without your own personal production. While you are in this state, you do not have a business, you have a job – essentially, as a salesperson in your own company.
Consider doing something different. Formulate a business plan – take control of the direction of your business.
And if you need a hand with a good plan, please do contact me.