Darci and Terry discuss the critical need for real estate agents to have a comprehensive business plan, including projecting revenue, mapping out all expenses, and understanding the true profitability of their business. They emphasize that many agents lack this foundational planning, leading to poor financial management and lost opportunities.
Breakdown of Agent Commissions @ 11:42 Terry explains in detail how agent commissions are typically structured, with a significant portion going to the brokerage for fees and services. They highlight that agents need to fully understand these splits and deductions to accurately assess their net earnings and profitability.
Implementing Consistent Business Planning @ 32:26 Darci and Terry recommend that agents work with their brokerages to develop an annual business plan, and then review and update it regularly throughout the year. They suggest setting aside dedicated time to focus on this planning process, and making it a consistent, ongoing part of running the business.
Tracking Marketing Effectiveness @ 34:23 Darci shares examples of agents wasting money on ineffective marketing and lead generation tactics, without properly tracking the return on investment. They stress the importance of closely monitoring the performance of all marketing efforts and making data-driven decisions.
Recap and Next Steps @ 39:40 Darci and Terry wrap up the discussion by encouraging listeners to reach out to them for further support and guidance on improving their business planning and operations. They highlight the resources available through Agent Tech Mastery and invite listeners to connect with them.
Are you stuck and piecemealed your business together? Let's get you where you want to go. If you want our help to do that, book a call with Agent Tech Mastery at https://www.agenttechmastery.com/applypod it's absolutely free and possibly the best call you have ever had to change your business.
As always, I would love to hear your comments. Reach out after you watch/listen. PS. You can find us on any of your favorite podcast apps by searching for Agent Tech Mastery.
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