- Nail down your personal and business expenses.This is a business. Successful businesses do budgets and know their expenses, as well as projected revenues.
- Get a realistic plan of your income expectations.Using a funnel approach, you can estimate income out the bottom of the funnel from the type and number of expected prospects falling into the top of the funnel.
- Develop a marketing budget with data from previous step.Once you have an idea of the results from each type of marketing, you can more intelligently allocate money to them.
- Fast track the building of your Sphere of Influence.The more people you have in your SOI, the more business and referrals you'll see.
- Choose your sponsoring broker carefully.Balance your needs for support with their ability to provide it and then look at the split.
- Kill these time-wasting habits!Don't let bad habits and procrastination keep you from the behaviors that you need to implement in following your plan.
- Get your contact/prospect/time management on a system NOW.With budget a concern for most new agents, using the MS Outlook you have on your computer can be the best beginning management system decision.
- Never deviate from your plan. If it's not working, though you're implementing properly, then change the plan and stick to the new one.
- Though personality is important, this is a business of numbers. Constantly build on the numbers of contacts and prospects and you'll build your business.
- Don't spend a lot of time looking for the "Magic Bullet." Though there are "million dollar agents", it's all about having a plan, following it and hard work.
- In most cases, your money is better spent in promoting yourself than in buying leads from some third party lead-seller.
- A strong work ethic
- A budget to hold for the first deals
- A computer and contact management system
- A vehicle suitable for the job
- A whole lot of friends and relatives won't hurt!
By James Kimmons (realestate.about.com)