A Few Things to Implement in Your Real Estate Marketing Plan

When making your real estate marketing plan there are certain things which probably won’t demand a lot of your time or attention, such as setting your goals for the future or determining your motivation for making it in this business. There is however a part of the real estate marketing plan with which everybody seems to struggle: marketing. Even though most agents are good at making sales pitches, they simply cannot find a way to make their voices heard in this sea of humans that is the internet (because that’s where most of the marketing happens nowadays). Here is a look at a few things you can do in order to expand your influence and get yourself noticed from the crowd.

Building a Good Relationship with your Buyers

To start things off, you will need to build up a relationship with your potential buyers. Selling real estate isn’t something which just happens overnight; it can sometimes be a very long process and you will end up talking a lot with your clients, meaning that they better take a liking to you or they many never consider hiring your services. How exactly do you get in good with them? Well, at this point you better put on your charmer mask and send them post cards, or perhaps even giving them a call, striking up a casual conversation during which you need to find a way to transition into what you have to offer them.

You could also send emails to your potential buyers, offering them bits of information and tips about what homeowners should be doing in today’s economy, or if you are really dedicated to your job, send them small gifts to show your appreciation.

The Great Benefits of Social Media

Another very popular way of getting yourself noticed in this day and age is to use social media, which is something that should already be in your marketing plan for real estate. If it’s not, then simply take a few minutes to consider this information: Facebook has almost one billion users, and 56% of them claim that they are much more likely to recommend and purchase some kind of brand themselves after becoming a fan of it.

To put it in other words, if you do things the right way you can actually spread the word about your brand and get people to lean towards it if they are ever caught in a dilemma, simply by creating a fan page on Facebook and getting people to “like” it. Also, on social media word travels faster than ever before. For example, when the Domodedovo Bomb blew up in the Russian airport, president Medvedev learned about the whole fiasco through Twitter. So, as you can see, social networks work faster than Russian intelligence services, which is a pretty good sign for real estate marketers who are looking to spread the word about their brand.

Using Real Estate Listings to Your Advantage

Another advertising tactic you should definitely consider including in order to make an effective marketing plan for profitable real estate is the use of online real estate listings. There are websites out there which you can find using your search engine of choice which allow you to post your own listings… free of charge. The best part is that these free websites, which include Trulia, Zillow and HotPads, are some of the most popular websites on the internet right now as thousands upon thousands of people go on them every day to check the house listings. All you need to do is simply make a list of these websites and head to each one of them and put your listings up there.

There is something special about these listings which will make your job infinitely easier: the people who contact you are only the ones who are actually interested what you have to offer. You see, these websites allow those who post the listings to provide very detailed descriptions of the real estate’s various characteristics, and what’s more, it allows the users to search real estate based on them. So, to word it differently, these people already know what you have to offer and so you really won’t need as much effort to convince them.

Naturally, there is much more than that to making a good real estate business plan, but rest assured that if you get the marketing part right there won’t be much stopping you from achieving the success you have been dreaming of all these years.

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A Great Real Estate Business Plan Requires Focus – Three Key Emphasis Points Make Plan Focus Real

Writing more than 100 business plans, delivering 1000s of investor presentations, preparing financial models in the dozens, and meeting thousands of investors during the last 15 years while raising 10s of millions of dollars for businesses ranging from real estate investments to China based technology firms develops the perspective needed to write a great business plan. There are three specific items that are the core items that must be answered in an investor presentation and consequently the business plan. When you set up your business plan, the total document should drill in on these three. They are:

What is the investor being asked to do and to invest?
What is the investor expecting to make?
How will the investor exit the investment with his capital and return?

Spending more time on these three can help define the key actions needed to deliver a great business plan.

What is the investor being asked to do and to invest? Investors want to know what their capital will be doing, how much they will contribute, and how they will be treated after this occurs. This question and the implications of the question require more than a simple answer. Also, if the answer is provide cash, the road to completing a successful capital raise is going to be much more difficult. I do agree that the investor should be told very clearly what the investment parameters are and that if at all possible requiring the investor to complete a very specific subscription agreement establishing the investor (hopefully) as accredited is an essential step. However, next the entrepreneur benefits from knowing who his investors are and their background. Require information from them to educate you about them. Quality investors will appreciate the interest. Perhaps just as important, by knowing about the investors, you are armed to make use of your investors experience and resources more effectively.

Next, part of telling the investor what they are to do is describing clearly how you will communicate with them. This interaction goes far to inspire or to undermine confidence depending on the quality of the answer and how well it serves investor concerns. The good news is that while business opportunities very greatly and investor focus can be quite different, investor concerns are generally focused on the risk they are assuming, the risk to their capital, and their return expectations. Not much else is of any great import. Next, in detail provide the organizational structure they are part of the and the terms and conditions defining your relationship. These items in combination describe the investment and the relationship your investor shares with you. And, as in the communication discussion, the key issue is satisfying investor concerns.

What will the investor make is more straight forward. This should be a clear discussion of return assumptions, time frames for those returns, and the risks effecting the global investment. Disclosure protects you and provides the investor a thorough understanding of the considerations that should frame their investment. Within the context of the real estate investment, this will focus on distribution of cash flow, tax benefits and considerations, and finally the disposition of proceeds from financing, a project sale, or a sale of interests to future investors.

Finally, the entrepreneur owes a clear discussion of the investment exit plan or plans, the time frames for the exit, and the risks to the exit. This area overlaps with the previous discussion and differs principally in that the exit plan discusses how a sale or a sale of interests will be set up and executed in the future.

With these items described, the remainder of the business plan items should be tied together thematically with these items. As an entrepreneur this will prove useful as you will more than likely identify changes to your plan during this process that will protect your goals as well as strengthen the investor’s interests. The main areas that are part of this discussion are accounting, customer service, marketing, and capital improvement plans. In short, you will deliver a more tightly focused and more operationally feasible business plan.

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14 Steps to Creating a Real Estate Business Plan You Can Use

This model of business planning and goal setting for Real Estate Professionals breaks the process down to five sections and fourteen steps.

SECTION A: The Big WHY

It is important to first look at who you really are and what your core values are. These things will drive you and carry thorough to your business.

Step 1 – What is your purpose?

Uncover your purpose, what provides the foundation of our values, vision and goals.

Step 2 – What are your values?

Know your core values which dictate what is important in both life and business: how business should be conducted, your view of humanity, and your role in society.

SECTION B: Vision – Goal Setting

This is where you take a hard look at where you are at and figure out where it is you are going in your business and in your life.

Step 3 – The Year in Review

Recognize what it is you have done this year, celebrate the accomplishments and also look at what may have stopped you short of reaching a goal.

Step 4 – Is your life in balance?

The Wheel of Life, sometimes called the Balance Wheel, will help you visualize your current situation, providing a snapshot of how you see your life today.

Step 5 – Business Review

Take a look at the results of the last 12 months. Did you reach your goals and achieve what you wanted?

Step 6 – Goal Setting

Don’t hold back, dream LARGE, think BIG, aim HIGH.

Step 7 – Production Goals

Work the numbers. Create specific number goals for the next one to five years.

SECTION C: Creating an Action Plan to Achieve Your Goals

All Real Estate Professionals know they need a Business Plan. By following these steps you will create a plan that will help you hit your business goals.

Step 8 – Define Your Niche and Value Proposition

Become a specialist and build perceived value. Know your true value and learn to articulate your value proposition to your clients.

Step 9 – Lead Generation/Marketing Plan

Recognize what specific changes to your current plans are necessary to make in order to reach your goals.

Step 10 – Define Your Team Organizational Structure

Understand the organizational structure of your team.

Step 11 – Development Plan

Capture all of those things you have wanted to research, create, do, perfect, delegate and implement in your business.

Step 12 – Budgeting

Review your expenses for the current year and include any new marketing and development changes.

Step 13 – Production Plan

Create and monitor goals on a monthly basis in order to hit your production goals for the upcoming year.

SECTION D: Achieving Your Goals: How do I get there from here?

By breaking your large goals into smaller steps you will always know what you need to do next in order to keep working toward hitting your business and personal goals.

Step 14 – Creating a Master Project List

Change your goals into “projects” to actively work on over the next twelve months, and from this create a “Master Project List.”

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How To Create A Winning Real Estate Business Plan

More and more people it seems have been getting into the market for real estate investing, but the most successful will be those who can create a winning business plan.

This type of business will serve a number of different purposes, and it is important for any would be real estate investor to understand just how important such a plan can be.

And use this plan in a manner to help your business.

Attracting Capital To Close The Deal

On the one hand, a well thought out, professional and strategy will help the real estate investor to attract the capital he or she needs to close those once in a lifetime deals.

The secret to success in the world of real estate is that so many of the transactions can be done using other people’s money, and that is where a strategic plan comes in. It will detail to all those would be investors and money lenders just how the business is destined to succeed.

Using Your Business Plan To Help Guide The Business As It Grows

In addition, a well written strategy can also serve as a blueprint and a guideline as the real estate business moves forward.

It can be quite difficult to get such a business off the ground, especially when a slowdown in the market makes the world of real estate a bit more challenging. Having a organized plan at hand will help to guide the business as it grows.

Getting Help From Qualified Professionals

Preparing a high quality plan is well within the means of most investors, but it is a good idea to ask for help from qualified professionals when preparing such an important document.

For instance, having an accountant or other tax professional take a look at the strategy can provide some much needed insights.

In addition, having it reviewed by a qualified real estate or business attorney can ensure that the document is legally sound and that it contains no errors or omissions.

After all, this real estate business plan will form the cornerstone of the new enterprise. It is important that it be a quality document.

If any bank or other lenders are going to take you seriously, your plan should be professionally done. It should include all of the elements that a business plan should have included in it.

After it is reviewed, then and only then should you submit it to a lender for their consideration in your future financial endeavors.

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How to Get Started in Real Estate Investing – Writing an Effective Real Estate Business Plan

An effective business plan, for most business, can help you think about the business and get to know it fully. It also helps you to strategically plan for the different aspects of the business. Such plans let the investor know what will be pursued as well as provide a clear road map for the management to follow.

Savvy investors always put together a business plan for each property investment. It is important therefore, that you take your time to plan each real estate investment you make.

In writing your plan, you have to identify the areas for improvement and the strategies for increasing the value of the property.

For first-time investors, it is important that you ask the following questions before writing your plan:

1 Why am I going into real estate business?
2 What challenges are involved in real estate? Can I handle them?

Taking time to answer the questions may prevent you from making costly mistakes which make this type of investment a disaster for many people.

Real estate investment comes with its own challenges and it is important that you know them and have a plan for resolving each of them. For most that are bringing in investors to look at your plan, the investors will want to see that you have experience in acquiring and managing real estate – strong enough to face the challenges involved. They want to know if you are emotionally and financially capable of handling tenants who do not pay and refuse to leave. They want to know if you are capable of handling the maintenance of the property and the contractors involved.

Strengths and competitive advantages are also points you should note though they are less important in real estate than in other businesses. You many want to talk to local brokers who know the market and can give sincere and honest advice.

What about insurance and tax reporting? You must be able to source for the right insurance coverage on your property. You must make sure all dues are paid in taxes and your accounts balanced. If you are not very good at this, you may consider getting if done through consulting.

Partnership is also an important issue in real estate investments. If you consider bringing in partners or investors, you have to look at securities law issues and investor communications. You must be ready to provide the reports and financials at intervals determined by the investors,or state laws. Most investors like to see quarterly financial reports.

Writing an effective real estate business plan, even when you know about the business, helps you to know it better. Put yourself in the investors’ shoes when writing your plan. Think about what they want to see and hear and address such.

Above all, writing an effective real estate plan requires getting all the available information you need in putting the business together.

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