The Gateway to Success
GLOBAL REAL ESTATE ADVISOR BUSINESS PLAN
WelcomePlan (noun) / plæn / : a method for achieving an end.
What’s the plan? The act of “planning” is crucial for a successful, sustainable business. In our profession, the reality is that not enough of us take the time to set goals and identify the strategies and habits needed to achieve them. This exercise should be far more than merely establishing a target income goal and figuring out the listings and sales necessary to make it a reality. It should be holistic and reflective, taking into account your long-term well-being in the pursuit of a rewarding life.
At Pacific Sotheby’s International Realty, we want each and every one of you to realize your full potential for success. Above all, we want you to live the life you imagine for yourself and others. That’s only possible if first envisioned.
Our Global Real Estate Advisor Business Plan is designed to be a roadmap for where you want to go. Use it to focus exclusively on the year ahead or elect to dig deeper and invest the time and thought to understand what true success in life means to you.
We wish you the very best on your journey and are here to support you every step of the way.
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us can help you level up your business. Nothing compares.
Leveraging
Contents
BECOMING A VISIONARY
BUSINESS PLANNING
The Ninja Nine: Habits for Success 12
Current Business Analysis 13 Business Plan Worksheet 15 Marketing Plan 16 20-Point Business Plan 18
SUPPLEMENTALS
My Financial Vision 20 Business Expense Analysis 22 CEO Self-Check 24 Annual Communications Plan 28 NOTES 33 12-Week Year Planning 10
My Life List 6 Quality of Life 5 My Vision 7
Becoming a Visionary
Quality of Life
VISION ELEMENTS
SPIRITUAL
THE VISION ELEMENTS
YOUR
AREA. 5
RATE EACH OF
BELOW, AND THEN DESCRIBE
ASPIRATIONS FOR EACH
COMMUNITY/SERVICE
HOW YOU WANT TO BE
PHYSICAL/HEALTH BUSINESS/CAREER FINANCIAL
COMMUNITY/SERVICE PURPOSE SPIRITUAL FAMILY/ SPOUSE/ PARTNER PHYSICAL/ HEALTH BUSINESS/ CAREER FINANCIAL PERSONAL COMMUNITY/ SERVICE
FAMILY/SPOUSE/PARTNER PHYSICAL/HEALTH BUSINESS/CAREER FINANCIAL PERSONAL
RATING (1-10)
SPIRITUAL FAMILY/SPOUSE/PARTNER
PERSONAL
My Life List
REASONS FOR LIVING
FAMILY CAREER 1. 2. 3. 4. 5. 6. 7. 8. 9. 10.
1. 2. 3. 4. 5. 6. 7. 8. 9. 10.
RECREATION TO BE AND TO GIVE 1. 2. 3. 4. 5. 6. 7. 8. 9. 10.
1. 2. 3. 4. 5. 6. 7. 8. 9. 10.
DREAMS AND GOALS
1. 2. 3. 4. 5.
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My Vision
CREATE YOUR LONG-TERM ASPIRATIONAL VISION AND 36-MONTH VISION.
LONG-TERM ASPIRATIONAL VISION
What is your vision for the long term: 5, 10, 15 years into the future?
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36-MONTH VISION AGE: ___________
What is your vision? Three years from now, what do you want to create in your personal life and in your business?
• spouse, family, health, spiritual, social, financal, intellectual, emotional, lifestyle
• income, customer profile, marketing, value offer, staffing, strategic partnerships, time off
THREE WORDS THAT BEST DESCRIBE THE FUTURE YOU:
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Business Planning
12-Week Year Planning
COMPLETE THE PLANNING WORKSHEETS AND THEN DEVELOP YOUR 12-WEEK YEAR PLAN.
WHAT “MESSES” NEED CLEANING UP?
FINANCES: Accounting, Bookkeeping, etc.
ADMINISTRATIVE: Paper Stacks, Files, etc.
LEGAL: Contracts, Agreements, Risks, etc.
PHYSICAL ENVIRONMENT: Organization, Neatness, etc.
PERSONAL
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PERSONAL RELATIONSHIPS
KEY PERSONAL RELATIONSHIPS THAT YOU WANT TO IMPROVE OR IMPACT IN THE NEXT 12 WEEKS, NAME ACTIONS
PROFESSIONAL RELATIONSHIPS
KEY PROFESSIONAL RELATIONSHIPS THAT YOU WANT TO IMPROVE OR IMPACT IN THE NEXT 12 WEEKS, NAME ACTIONS
UNIQUE CAPABILITY
WHAT IS YOUR “STRENGTH OF STRENGTHS,” THE ONE THING YOU DO BEST?
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The Ninja Nine: Habits for Success
THE DAILY NINJA NINE HABITS FOR SUCCESS IN “GIVING,” NOT “SELLING,” THE BUSINESS
1. Write your daily gratitudes. Take some time each morning to write a list of the things you are grateful for today. Being in a space of gratitude creates great framework for the day.
2. Show up daily! Stop opening your email first. Resist the addiction. Instead, do one hour of productive work first. Work “on” your business in the morning. Work “in” your business in the afternoon.
3. Write two personal notes daily. People love receiving personal handwritten notes. Make it a daily practice. Write notes about anything – thank you notes, “just checking in” notes, birthday cards – anything goes!
4. Focus on your Hot List daily. Stay in touch with those folks who are about to buy or sell now or in the very near future. Think, “Who can I write a contract with this week?”
5. Focus on your Warm List daily. Make sure to stay in touch with the people who are interested in buying or selling but aren’t ready to pull the trigger just yet.
6. Focus on your customer service calls weekly. Transaction follow-ups are very important in getting referrals and repeat business.
7. Schedule two real estate reviews weekly. Schedule a time to sit down with two people in your sphere of influence to simply give them an update on the value of their home in today’s market.
8. Schedule 50 live contacts this week. Commit to two-way communication with real estate intenders or sphere of influence contacts.
9. Update your database and look for property matches weekly. Check the MLS, Coming Soon List, and Buyers Needs List frequently and make sure you are on top of new listings that match your clients’ needs.
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Current Business Analysis
Number of Active Listings
Listing Dollar Volume
Number of Pending Transactions
Transaction Dollar Volume
Number of Active/Pending Outgoing Referrals
LISTINGS
New Listings Secured
Dollar Volume
Average List Price Listings Sold Dollar Volume
Average Sales Price
Gross Commission Income (GCI)
Average Commission Rate Listings Expired/Cancelled Dollar Volume Listings Sold/Taken Ratio
BUYERS
Buyers Sold
Dollar Volume
Average Sales Price
Gross Commission Income (GCI)
Average Commission Rate
PAST 12 MONTHS NEXT 12 MONTHS
PAST 12 MONTHS
NEXT 12 MONTHS
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Current Business Analysis (cont.)
OUTGOING REFERRALS
Sent Closed Conversion Rate Gross Commission Income (GCI)
SUMMARY
Listings Sold GCI Buyers Sold GCI Referrals Closed GCI
Total Gross Commission Income Sales Associate Net Earnings
PAST 12 MONTHS NEXT 12 MONTHS
PAST 12 MONTHS NEXT 12 MONTHS
PAST
NEXT 12 MONTHS
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12 MONTHS Need: Want: Dream: CLIENTS SERVED SALES VOLUME
Need: Want: Dream: CLIENTS SERVED SALES VOLUME
Business Plan Worksheet
1) What is Your Financial Goal?
2) What is Your Average Sale Price?
x Average Commission Percentage (%)
Gross Commission
3) What is Your Commission Split?
Your Average Commission Per Closing
Closed Sales Needed to Meet Your Goal
Financial Goal
Your Average Commission Check
Closed Transactions Needed (Goal/Commission)
WHAT WILL IT TAKE TO REACH YOUR GOAL?
BUYER
SALES
4) What Percentage of your Transactions will be Buyer-Controlled Sales?
Number of Buyer Sales
Qualified Buyers Needed (2 = 1 transaction)
Prospects Needed (3 prospects = 1 buyer)
Contacts Needed (12 contacts = 1 prospect)
LISTINGS SOLD ACTIVITY
Listings Sold as a Percentage (%) of Closed Transactions
Number of Listings Sold
Percentage (%) of Listings That Will Sell
Total Number of Listings Needed
Number of Presentations Given (3 = 1 listing)
Prospects Needed (3 prospects = 1 presentation)
Contacts Needed (12 contacts = 1 prospect)
WHAT YOU NEED TO DO
TOTAL CONTACTS PER WEEK (at 50 weeks per year):
TOTAL CONTACTS PER DAY (at 5 days per week):
*Contacts are defined as face to face, a phone call or a response to your email/text.
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Marketing Plan
WHAT IS YOUR MOST IMPORTANT GOAL FOR THE YEAR?
Business Goal: Your Why:
WHAT IS YOUR BRAND?
Five words you want people to use to describe you:
Core values:
What is your value proposition/how are you different?
WHO ARE YOU TARGETING AND WHERE?
Buyers: Sellers: MARKETING REVIEW:
Marketing you have been using that is working well:
Ways to increase results from marketing that is working well:
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Marketing that you didn’t use but want to incorporate next year:
Marketing that you are undecided on:
GOALS AND ACTIVITIES
Specify your unique training needs in the next year:
Ideas to incorporate in the next year:
Things to improve in the next year:
CONTACT GOAL SETTING: WEEKLY MONTHLY YEARLY
Contacts added to my CRM
Contacts added to Email Marketing (ActivePipe)
STRATEGIC PLAN TO REACH GOALS: ACHIEVE BY:
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20-Point Business Plan
Mark the YES column when all of the segments in the question are applicable to your business.
WHAT IS YOUR MOST IMPORTANT GOAL FOR THE YEAR? YES
1. Do you have a written and clearly defined vision for your personal life and business?
2. Do you have defined goals and a written business plan that you visit at least once a quarter?
3. Do you have a target sphere that receives a minimum of a monthly mailing?
4. Do you have a target sphere or database that you contact regularly?
5. Do you have a database of customers/prospects that is updated weekly?
6. Do you have your contacts set up for Email Marketing (ActivePipe)?
7. Do you hold at least two open houses per month (depending on seasonality)?
8. Do you pursue expired listings in the primary market you serve?
9. Are you involved in any civic/charitable organizations where you give back and reach new clients?
10. Are all your online profiles complete with updated photos, information and customer testimonials?
11. Do you have a social media strategy with regular posts blending property, market, brand and personal content?
12. Are you generating at least one outbound referral per quarter and building relationships in the SIR network?
13. Do you have a follow-up contact plan for past customers (including annual real estate reviews) to stay top of mind and generate referrals?
14. Do you have a current listing consulatation and personalized marketing plan what may be delievered in person or electronically?
15. Are you using the pre-listing interview form and do you have a compelling pre-listing package (MSP) delivered to the prospect prior to the appointment?
16. Have you mastered Zoom or an alternative method of interacting with customers and prospects remotely?
17. Are you confident in your ability to address commission questions to ensure you’re earning what you’re worth?
18. Have you mastered your Ninja or alternative scripts for working with buyers and sellers?
19. Are you constantly tracking available inventory in your market and do you have all clients in your database set up on listing alerts?
20. Do you track your sources of business and amounts invested in lead generation?
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Supplementals
Decide what you want – not what you think you can have.
MINE TO KEEP (Deposit in my “Feel Good” Account)
CREATURE
Financial Goal Sheet
COMFORTS (Annual Living Expenses)
BUSINESS COSTS RECREATION PERSONAL GROWTH FAMILY GROWTH BUSINESS GROWTH DEBT REDUCTION RETIREMENT FUNDS INVESTMENTS TO GIVE TAXES SUBTOTAL RECEIVING GOAL $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 20
CREATURE COMFORTS (Large Purchases)
Net Worth Goal Worksheet
Current net worth: as of
WHAT I OWN (A)
Cash and savings
Automobiles (value)
Retirement plan Insurance (cash value) Home (value) Second home (value) Stock Stocks/mutual funds Properties (total value) Other investments
$ $ $ $ $ $ $ $ $ $ $ $
WHAT I OWE (B)
Current bills
(date)
Automobiles (loans)
Credit card balance Taxes owed Home (loan) Second home (loan) Line of credit Loans Property (loans) Other debts TOTAL
NET WORTH (A-B)
Current net worth: as of
WHAT I OWN (A)
Cash and savings
Automobiles (value)
Retirement plan
Insurance (cash value) Home (value)
Second home (value) Stock Stocks/mutual funds Properties (total value) Other investments
WHAT I OWE (B)
Current bills
Automobiles (loans)
Credit card balance Taxes owed Home (loan) Second home (loan) Line of credit
Loans Property (loans) Other debts
(date) 21
TOTAL $ $ $ $ $ $ $ $ $ $ $
TOTAL $ $ $ $ $ $ $ $ $ $ $
TOTAL $ $ $ $ $ $ $ $ $ $ $ $
NET WORTH (A-B)
EDUCATION
Expense Analysis
Payment Fuel Service Insurance Other
12 MONTHS NEXT 12 MONTHS Total Automobile Expenses MARKETING Photography/Videography Printing Print Advertising Digital Advertising/Social Media/Website Postage
12 MONTHS NEXT 12 MONTHS Signs Other Total Marketing Expenses
Business
AUTOMOBILE
PAST
PAST
SIR Global Networking Event Ninja Installation Other Conferences/Meetings Other
12 MONTHS NEXT 12 MONTHS Total Education Expenses 22
PAST
Business
OTHER
Expense Analysis (cont.)
Fees/Accounting/Legal Quarterly Dues Meals/Entertainment Office Supplies Telephone
MONTHS
MONTHS
Other Business Expenses
BUSINESS EXPENSES Professional
PAST 12
NEXT 12
Total
Automobile
Marketing Total Education Total Other Expenses
MONTHS
MONTHS
BUSINESS
Software Fees Membership Fees REALTOR® Association, Board, MLS Fees Sales Support (PA) Other Other Other 23
SUMMARY Total
Total
PAST 12
NEXT 12
TOTAL
EXPENSES
CEO Self-Check
As the CEO of your own real estate business, this is a 43-question quiz to help you identify your strengths as well as your opportunities. Be honest with yourself as this is intended to help you grow your business.
CHECK ONE BOX FOR EACH QUESTION. ADD UP YOUR
TOTALS AT THE END.
1. Are you giving your business the passion, commitment and high energy that you and your clients deserve?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
2. Are you investing in sending client appreciation gifts? (birthdays, anniversaries, major milestones, etc.)
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
3. Do you have written business and marketing plans for your business?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
4. Do you have at least a six-month marketing calendar with your plans for farming touch points?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
5. Are you willing to take overpriced listings just because you need the business?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
6. Are you communicating via handwritten letters with your past clients in your target database (list of relationships)?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
7. Are you maximizing the use of the company-provided monthly auto-send options through ActivePipe to reach everyone you know with an email address each month?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
8. Are you maximizing the use of the company-provided Market Reports (Luxury Outlook, Insider Intel, IN FOCUS and Lens on Luxury) to reach everyone you know with an email address each month?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
9. Have you reviewed your database of relationships within the past 30 days?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
10. Are you initiating real estate reviews for at least 10 people you know each month?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
11. Are you using the company-provided social media content from each Friday Haul to post to your Facebook, Instagram and LinkedIn accounts?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
12. Are you posting on your social media accounts at least three times per week to remain relevant and in your friends’ and clients’ news feeds?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
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13. Have you updated your professional headshot within the past two years?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
14. Are you taking advantage of Cloze, our company-recommended CRM (customer relationship manager), to manage your database of relationships?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
15. Do you have a system for proactively reaching out to all your active buyers and sellers on a weekly basis?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
16. Are you asking your existing clients if they know anyone looking to buy or sell within the next six months?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
17. Have you asked your existing clients if they would feel comfortable referring you to prospective clients?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
18. Do you have a regular system for asking your clients and friends for outgoing referrals?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
19. Have you placed an outgoing referral within the past 12 months?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
20. Do you meet with an accountability partner at least once per month to hold each other accountable to each other’s businesses?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
21. Do you attend company and county collabs for learning and networking?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
22. Are you spending time in the office each week to network and stay engaged in the business?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
23. Do you visit open houses & MLS tours at least 3 out of every 4 weeks for knowledge of current market inventory?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
24. Are you truly working at least 40 hours a week on your real estate business?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
25. Do you work with an accountant to maximize your financial picture in regard to your real estate business?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
26. Do you host a minimum of one client event each year to see your clients face to face, and to help them meet more people in the community?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
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27. Are you asking every one of your clients to write a review for you on Zillow that you can also use in our digital templates through DesignVault?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
28. Are you taking an appropriate amount of time to write compelling text to enter into PSIRGO and the MLS to sell your listings?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
29. Are you sharing monthly absorption reports with your clients for their competition in the marketplace?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
30. Do you lay your head down at night believing that you have done everything you can that day to support your clients?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
31. Do you send your listing clients weekly ListTrac reports so that they see what traffic their listing is getting online?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
32. Are you maximizing the use of the company-provided advertising options for each of your listings?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
33. Are you having monthly conversations with your clients about price adjustments to their listings?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
34. Are you familiar with the company-provided Design Vault templates and how they can save you time and make you more efficient with marketing your listing?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
35. Are you holding your photographers accountable for quality and detail when receiving photos from them?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
36. Have you created an updated tri-fold brochure that outlines your experience, the capabilities of our company and brand, as well as any client testimonials, to share with all prospective clients?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
37. Can you honestly say that your database is as robust as it could be?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
38. Do you make regular use of thank you notes to show your appreciation for referrals, as well as people who do good deeds for you?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
39. Do you always have at least five business cards on you at any given time?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
40. Do you take advantage of the weekly company-provided training classes that we offer? ▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
41. After each client presentation, do you ask yourself what you could have done better to challenge yourself next time?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
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42. Do you make your listing clients aware of the exclusive media partnerships and exposure offered through our company such as The Wall Street Journal, Juwai, Architectural Digest and more? Do they know all virtual tours on our website are translated into multiple languages, and that prices are converted into different currencies, etc.?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
43. Are you top of mind for your sphere of influence as the go-to person for all things residential real estate?
▢ YES ▢ NO ▢ AREA FOR IMPROVEMENT
WHAT DO I DO NOW?
TOTAL NUMBERS: _________ YES _________ NO _________ AREA FOR IMPROVEMENT
We win when you win! Wherever you answered NO or AREA FOR IMPROVEMENT, and would like to see those turned into a YES, please meet with your managing broker one on one. It would be our pleasure to help create a business plan for you! We want to make sure that we are your partner in maximizing your business through the incredible number of tools and resources that are provided to you by our brand and our company. This can be a great kick-start for those who feel ‘stuck’ and don’t quite know what to do with their business. Allow us to help provide you tangible action steps to increase your sales volume and your income.
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Annual Communications Plan
JANUARY
Effortless eMarketing Communication
Social Media Content (minimum two per week)
Print Marketing Campaign (cost) and/or Social Media Version
Market Reports (Luxury Outlook, Insider Intel, IN FOCUS and Lens on Luxury)
FEBRUARY
Effortless eMarketing Communication
Social Media Content (minimum two per week)
Print Marketing Campaign (cost) and/or Social Media Version
Market Reports (Luxury Outlook and Insider Intel)
MARCH
Effortless eMarketing Communication
Social Media Content (minimum two per week)
Print Marketing Campaign (cost) and/or Social Media Version
Market Reports (Luxury Outlook and Insider Intel)
APRIL
Effortless eMarketing Communication
Social Media Content (minimum two per week)
Print Marketing Campaign (cost) and/or Social Media Version
Market Reports (Luxury Outlook, Insider Intel, IN FOCUS and Lens on Luxury)
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Effortless
eMarketing Communication
Social Media Content (minimum two per week)
Print Marketing Campaign (cost) and/or Social Media Version
Market Reports (Luxury Outlook and Insider Intel)
JUNE
Effortless eMarketing Communication
Social Media Content (minimum two per week)
Print Marketing Campaign (cost) and/or Social Media Version
Market Reports (Luxury Outlook and Insider Intel)
JULY
Effortless eMarketing Communication
Social Media Content (minimum two per week)
Print Marketing Campaign (cost) and/or Social Media Version
Market Reports (Luxury Outlook, Insider Intel, IN FOCUS and Lens on Luxury)
AUGUST
Effortless eMarketing Communication
Social Media Content (minimum two per week)
Print Marketing Campaign (cost) and/or Social Media Version
Market Reports (Luxury Outlook and Insider Intel)
29 MAY
SEPTEMBER
Effortless eMarketing Communication
Social Media Content (minimum two per week)
Print Marketing Campaign (cost) and/or Social Media Version
Market Reports (Luxury Outlook and Insider Intel)
OCTOBER
Effortless eMarketing Communication
Social Media Content (minimum two per week)
Print Marketing Campaign (cost) and/or Social Media Version
Market Reports (Luxury Outlook, Insider Intel, IN FOCUS and Lens on Luxury)
NOVEMBER
Effortless eMarketing Communication
Social Media Content (minimum two per week)
Print Marketing Campaign (cost) and/or Social Media Version
Market Reports (Luxury Outlook and Insider Intel)
DECEMBER
Effortless eMarketing Communication
Social Media Content (minimum two per week)
Print Marketing Campaign (cost) and/or Social Media Version
Market Reports (Luxury Outlook and Insider Intel)
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Notes
Notes 32
Notes 33
Notes 34
35
Notes
Notes 36
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Sotheby’s International Realty Affiliates LLC. All Rights Reserved. Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Office Is Independently Owned And Operated.
