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This is a critical first step in writing your business plan as it determines both opportunity and potential challenges to business success.
Visit Bold Leads While some elements of a real estate business plan differ, necessary elements include market analysis; executive summary; mission statement; marketing strategy; financial projections; and a strengths, weaknesses, opportunities, and threats (SWOT) analysis.
To help you get started on your business plan, we created a free downloadable real estate business plan template with examples to guide you through each step.
Here are the nine steps to writing a successful real estate business plan.
A market assessment summarizes the financial, cultural, and demographic factors that affect buying and selling real estate in a given area.
Establishing a market segmentation defines what type of buyer your real estate company will target as clients.
To create your marketing segmentation, consider opportunities afforded by focusing on residential and/or commercial properties, rentals and/or sale, and home types.
Choose these ZIP codes based on where you would like to live and where you would enjoy working.
They do not have to be contiguous or adjacent, but it’s recommended that you choose ZIP codes in one general area to ensure you have ample opportunity to grow your business.
A real estate business plan is a document that explains an agency’s origin, mission, and goals.
This plan offers a clear direction to partners and employees on how the company will become profitable.