In order to setup everything an agent wants, the 1-3-5 format does the work. It provides a one page simple business plan layout that allows the realtor to focus on the key actions that would lead them to their desirable results. This format gives a formalized view and saves from producing tiresome drafts. This one-page format can be placed anywhere; on your computer desktop, office notice board, in meeting presentations etc.
The 1-3-5 Format
Determine Your 1 Big Annual Goal
Start your business plan by setting up one realistic measurable goal regarding annual real estate sales production. It helps in breaking down the goal into proportions of monthly or weekly targets. For example, setting a goal of closing 36 deals annually means he/she has to target closing at least 3 deals a month or 1 deal every 7-15 days.
The factors for measuring annual sales can be something like total sales volume, number of units/properties sold, gross commission income (GCI), or even net income.
Establish 3 Key Focus Areas to Reach the Main Goal
Setting focus steps before starting anything is always helpful. A real estate agent should therefore, be focused about few things throughout the year. List down the tasks that are usually running in the back of your mind, categorize them into final 3 Key Focus Areas.
Plan 5 Objectives for Each Key Focus Area
After categorizing your three focus areas, now it’s time to figure out 5 objectives for each key focus area respectively. However, while developing these objectives it should be made clear that each and every objective is correlated to that specific key focus area, can be realistically accomplished and would not be a burden over the to-do-list made previously.
Action plan Steps
Now it’s the time for some action plan with the assistance of your team! Break your objectives into small manageable actions and assign them to different team members. These actions can also act as your weekly team meeting agendas, where you can keep the track of your team and ensure that you are on your journey towards achievement of your goals.
