5 Action Items for Your 2019 Business Plan

As real estate professionals, we often try to predict what will happen next. What are the threats to our business? Where will I drum up new leads? What do I need to do next?

With 2019 on our doorstep, I thought I’d share the crucial skills our seasoned instructors recommend you capitalize on, or at least bake into your 2019 business plan.

Incorporate Thoughtful Networking
“2019 promises to be a year full of potential, despite anecdotal feelings of a softening in some markets, especially for real estate professionals focusing on the luxury price point. With that said, perhaps the most critical skillset to focus on is thoughtful networking outside of traditional venues. Relationships with other providers of (luxury) goods and services, professionals who share a similar client base and other successful upper-tier agents can result in connections to buyers that wouldn’t happen by simply listing a property and creating effective marketing materials. Focusing on positive opportunities will make the difference between an average year and a great year.”
– Tami Simms, REALTOR®, CLHMS, Institute for Luxury Home Marketing Trainer

Cultivate Relationships
“Relations still—and always will—matter. One thing real estate professionals need to learn, especially those just starting out in their career, is something that will carry them into every listing, sale and property management agreement: Real estate is all about relationships. There are many ebbs and flows in the business, and always something new to learn. You can learn the laws, take the exams and figure out the technology, but without the capability of building a relationship, your survival in the business is dubious.”
– Jolita Brazzano, Broker/Owner, Real Estate Express Instructor

Improve Your Communications and Simplify Transactions
“Industry expertise and local market prowess will no longer be sufficient. Those attributes must now be coupled with faster-paced communication—think text message and video chat—and using tools to streamline transactions, just as consumers have experienced in other types of businesses and now expect from the real estate community.”
– John Walker, Broker/Owner, Superior School of Real Estate Instructor

Consider Competitive Commission Structures
“Sellers are driving the competition for the commissions they pay to sell their house. The seller only wants to pay for the services rendered, and only for the services they think are warranted and ‘needed’ in selling their house. Sellers also want to get away from a ‘fixed percentage’ for commissions. Learning how to navigate this structure, and how to better position the fees you charge, will provide valued transparency so your listings thrive.”
– Linda Leavitt, Broker, Real Estate Express Instructor

Strike Balance With Technology and Personal Interaction
“Remember that technology can’t make up for what our business is: a people and service business. No machine can replace you, as long as you provide excellent customer service and treat people as if you’re in it for the long haul. Do this and you’ll find success throughout your career.”
– Melanie McLane, REALTOR®, Real Estate Express Instructor

Tom Davidson is the general manager of Real Estate Express, a national leader in online learning for pre-licensing, continuing education and professional development. Davidson has nearly 15 years of experience in the real estate industry. From sales training and product development to growing the business, his multi-faceted background encompasses crucial functions to a successful career in the field. To learn more, visit RealEstateExpress.com.