New Agent Financial and Lead Generation Moves

Setting yourself up for success takes some consideration of your finances and your lead generation activities.

Create a Business Plan and a Budget

As a Realtor® you are a business owner as well. Because of this, you will need to come up with a business plan and a budget. Some questions to ask yourself you would:

• Do you place to work full-time or is this going to be a part-time job?

• What hours are you going to set aside for focused work?

• How many listings are you wanting to do?

• How are you going to focus your marketing?

It is important to have a plan to help you reach your goals

Track Your Income and Expenses

It’s important to make sure you know how much money is coming in each month compared to what you are spending. There are many different ways to track your expenses, including apps such as Mint or NerdWallet. It’s a good idea to track these for at least 5 to 6 months; as you get your business going that way you can begin to see how you're spending. Once you have done this for awhile, you can create and actual financial plan that you will use going forward.

In The Beginning Ask For Referrals

As you create a good working relationship with your clients, it is a good idea to reach out to them to see if they would be willing to refer you when any of their friends and family are looking for a Realtor®.

If you aren’t comfortable doing this in-person, feel free to compose a thoughtful email expressing your gratitude for their business and asking if there is anything additional that you can help with as they transition. At the end, you can add in a quick ending that you would love to connect with any friend and family member that is considering buying or selling their home.

Understand How Being Self-Employed as an Agent Means

It might be helpful to contact a tax or financial expert to get a better understanding of what you can potentially write off as a work expense. As an independent contractor, you have multiple opportunities to write items off as an expense. So keep track of what you pay for that is in connection with your business on a spreadsheet and keep your receipts. It is all a good idea to make sure you put money aside each month to pay your taxes at the end of the year.

Use Your Personal Sphere of Influence

Update your social media to let everyone know you have started your real estate business. You can create a business account for your real estate if you’d like, but it is important to post consistently for people to remember that you’re available if they need them. It is up to you to drive your business. Consider doing volunteer work around your community to make yourself seen and also post your pictures too.

These tips will help you create a sustainable business. It is important to make sure you understand your goals and how to get there.