Robert Nachman asked:


Crafting a business plan is one of the first steps that any smart entrepreneur takes when they first decide to go into business for themselves. While real estate agents fall into the entrepreneur category, there are many agents out there that don’t take the time to formulate a solid business plan. It is a time consuming process, and one that requires difficult decision making and goal setting. It can seem tedious to an agent who would rather be out in the field, generating leads.

In the real estate industry, changes occur all the time, with a bustling housing market one year and a slump the next. What is the point of having a business plan in such an unpredictable industry like real estate?

Planning is the key to any good business, and real estate is no exception. You need to figure out what you want to achieve and then formulate a plan to get there.

To start, experts recommend coming up with a wish list for your business. How much would you like to make over the next few years? Be realistic, yet optimistic. You don’t want to set your sights too high and feel like a failure, or set them too low and not realize your full potential.

Once you have your income goals and a timeline set, you need to decide which tasks you will undertake to achieve those goals. Where will you place your energies and resources? Generating internet leads, or meeting people locally? Figure out how many clients you will need to have during an average year to meet your meet your needs. Then you need to your calculate all of your fixed and variable expenses, which is hard for many agents to do. Be very specific, and budget carefully. Vaguely described expenses are almost always higher than anticipated. Once you have your expenses figured out, you may have to readjust your revenue goals appropriately.

It is also a good idea to do a market analysis, and to always be on top of developments in the industry. You need to consider the potential rising and falling of local markets so you have the ability to ride out a slow period.

Making a business plan is different from simply outlining your goals. While it is good to have an overview of what you want to accomplish with your real estate business, it is vital that you sit down and map out the details. These details are what make up the business plan. It is action oriented and offers specific measures that you need to take, and in what time frame in order to accomplish your goals. Plan now, and a bright real estate future will be yours.



Heather

Mike Colpitts asked:


Americans are split on whether they are satisfied with their real estate agents services, according to the latest survey conducted by Housing Predictor, which forecasts housing markets in all 50 U.S. states. The online survey indicates respondents are divided on the quality of their agents services.

Forty-seven percent of the respondents said they were satisfied with their last real estate agents services, while a nearly exact number of 46% said they were not satisfied with their agents. Some seven percent were unsure.

After a national real estate boom in many states, the survey indicates that real estate agents may have a long way to go to increase the public’s perception and enthusiasm of their industry. Previous studies have also shown that the public does not blame their real estate agents for paying too much for properties they have purchased in the last few years.

Housing Predictor regularly surveys visitors to the web site on a variety of issues related to the real estate industry, which is one of the largest driving forces of the national economy. Despite the slowdown in the housing market in many states, 18 states local markets are appreciating, including Texas and New Mexico, where foreclosures are just beginning to record higher numbers.

Forecasts for more than 250 local markets in all 50 states are provided on Housing Predictor, where you may also search real estate listings and foreclosures, which is becoming an increasingly active market for many home buyers and investors.

Housing Predictor has forecast that more than two million homes will be foreclosed through 2009 due to fall out from the sub-prime loan crisis as it spreads into the conventional mortgage markets. Foreclosures are at near record high levels in many areas, but are rare in the second home and vacation markets, where a large percentage of buyers pay cash for property.

Housing Predictor is a leading online resource for consumers, home owners, the real estate industry, mortgage and financial companies, which regularly consult the web site for its unbiased independent housing market forecasts.



Robert