free real estate agent business plan

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• Writing a Business Plan

Writing a business plan may seem a daunting task as there are so many moving parts and concepts to address. Take it one step at a time and be sure to schedule regular review (quarterly, semi-annually, or annually) of your plan to be sure you on are track to meet your goals.

Why Write a Business Plan?

Making a business plan creates the foundation for your business. It provides an easy-to-understand framework and allows you to navigate the unexpected.

Quick Takeaways

• A good business plan not only creates a road map for your business, but helps you work through your goals and get them on paper
• Business plans come in many formats and contain many sections, but even the most basic should include a mission and vision statement, marketing plans, and a proposed management structure
• Business plans can help you get investors and new business partners

Source: Write Your Business Plan: United States Small Business Association

Writing a business plan is imperative to getting your business of the ground. While every plan is different – and most likely depends on the type and size of your business – there are some basic elements you don’t want to ignore.

Latest on this topic

NAR Library & Archives has already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles ( E ) are available only to NAR members and require the member's nar.realtor login.

Defining Your Mis​sion & Vision

Writing a business plan begins by defining your business’s mission and vision statement. Though creating such a statement may seem like fluff, it is an important exercise. The mission and vision statement sets the foundation upon which to launch your business. It is difficult to move forward successfully without first defining your business and the ideals under which your business operates. A company description should be included as a part of the mission and vision statement. Some questions you should ask yourself include: 

• What type of real estate do you sell?
• Where is your business located?
• Who founded your business?
• What sets your business apart from your competitors?

What is a Vision Statement ( Business News Daily , Jan. 16, 2024)

How to Write a Mission Statement ( The Balance , Jan. 2, 2020)

How to Write a Mission Statement ( Janel M. Radtke , 1998)

Using a SWOT Analysis to Structure Your Business Plan

Once you’ve created a mission and vision statement, the next step is to develop a SWOT analysis. SWOT stands for “Strengths, Weaknesses, Opportunities, and Threats.” It is difficult to set goals for your business without first enumerating your business’s strengths and weaknesses, and the strengths and weaknesses of your competitors. Evaluate by using the following questions:

• Do you offer superior customer service as compared with your competitors?
• Do you specialize in a niche market? What experiences do you have that set you apart from your competitors?
• What are your competitors’ strengths?
• Where do you see the market already saturated, and where are there opportunities for expansion and growth?

Strength, Weakness, Opportunity, and Threat (SWOT) ( Investopedia , Oct. 30, 2023)

How to Conduct a SWOT Analysis for Your Small Business ( SCORE , Apr. 28, 2022)

SWOT Analysis Toolbox ( University of Washington )

Setting ​Business Goals

Next, translate your mission and vision into tangible goals. For instance, if your mission statement is to make every client feel like your most important client, think about the following:

• How specifically will you implement this?
• Do you want to grow your business?
• Is this growth measured by gross revenue, profit, personnel, or physical office space?
• How much growth do you aim for annually?
• What specific targets will you strive to hit annually in the next few years?

Setting Business Goals & Objectives: 4 Considerations ( Harvard Business School , Oct. 31, 2023)

What are Business Goals? Definition, How To Set Business Goals and Examples ( Indeed , Jul. 31, 2023)

Establishing a Format

Most businesses either follow a traditional business plan format or a lean startup plan.

Traditional Business Plan

A traditional business plan is detailed and comprehensive. Writing this business plan takes more time. A traditional business plan typically contains the following elements:

• Executive Summary
• Company description
• Market analysis
• Organization and management
• Service or product line
• Marketing and sales
• Funding request
• Financial projections

Lean Startup Plan

A lean startup plan requires high-level focus but is easier to write, with an emphasis on key elements. A lean startup plan typically contains the following elements:

• Key partnerships
• Key activities
• Key resources
• Value proposition
• Customer relationships
• Customer segments
• Cost structure
• Revenue stream

Creating a Marketing Plan

You may wish to create a marketing plan as either a section of your business plan or as an addendum. The Marketing Mix concerns product , price , place and promotion .

• What is your product?
• How does your price distinguish you from your competitors—is it industry average, upper quartile, or lower quartile?
• How does your pricing strategy benefit your clients?
• How and where will you promote your services?
• What types of promotions will you advertise?
• Will you ask clients for referrals or use coupons?
• Which channels will you use to place your marketing message?

Your Guide to Creating a Small Business Marketing Plan ( Business.com , Feb. 2, 2024)

10 Questions You Need to Answer to Create a Powerful Marketing Plan ( The Balance , Jan. 16, 2020)

Developing a Marketing Plan ( Federal Deposit Insurance Corporation )

Forming a Team

Ensuring the cooperation of all colleagues, supervisors, and supervisees involved in your plan is another important element to consider. Some questions to consider are:

• Is your business plan’s success contingent upon the cooperation of your colleagues?
• If so, what specifically do you need them to do?
• How will you evaluate their participation?
• Are they on-board with the role you have assigned them?
• How will you get “buy in” from these individuals?

How to Build a Real Estate Team + 7 Critical Mistakes to Avoid ( The Close , May 17, 2023)

Don’t Start a Real Estate Team Without Asking Yourself These 8 Questions ( Homelight , Jan. 21, 2020)

Implementing a Business Plan and Reviewing Regularly

Implementation and follow-up are frequently overlooked aspects to the business plan, yet vital to the success of the plan. Set dates (annually, semi-annually, quarterly, or monthly) to review your business plans goals. Consider the following while reviewing:

• Are you on track?
• Are the goals reasonable to achieve, impossible, or too easy?
• How do you measure success—is it by revenue, profit, or number of transactions?

And lastly, think about overall goals.

• How do you plan to implement your business plan’s goals?
• When will you review and refine your business plan goals?
• What process will you use to review your goals?
• What types of quantitative and qualitative data will you collect and use to measure your success?

These items are only a few sections of a business plan. Depending on your business, you may want to include additional sections in your plan such as a:

• Cover letter stating the reasoning behind developing a business plan
• Non-disclosure statement
• Table of contents

How To Write a Business Proposal Letter (With Examples) ( Indeed , Jul. 18, 2023)

How To Implement Your Business Plan Objectives ( The Balance , Aug. 19, 2022)

The Bottom Line

Creating a business plan may seem daunting, but by understanding your business and market fully, you can create a plan that generates success (however you choose to define it).

Real Estate Business Plans – Samples, Instructional Guides, and Templates

9 Steps to Writing a Real Estate Business Plan + Templates ( The Close , Apr. 3, 2024)

How to Write a Real Estate Business Plan (+Free Template) ( Fit Small Business , Jun. 30, 2023)

The Ultimate Guide to Creating a Real Estate Business Plan + Free Template ( Placester )

Write Your Business Plan ( U.S. Small Business Administration )

General Business Plans – Samples, Instructional Guides, and Templates

Business Plan Template for a Startup Business ( SCORE , Apr. 23, 2024)

Guide to Creating a Business Plan with Template (Business News Daily, Mar. 28, 2024)

Nine Lessons These Entrepreneurs Wish They Knew Before Writing Their First Business Plans ( Forbes , Jul. 25, 2021)

How to Write a Business Plan 101 ( Entrepreneur , Feb. 22, 2021)

Books, eBooks & Other Resources

Ebooks & other resources.

The following eBooks and digital audiobooks are available to NAR members:

The Straightforward Business Plan (eBook)

Business Plan Checklist (eBook)

The SWOT Analysis (eBook)

The Business Plan Workbook (eBook)

Start-Up! A Beginner's Guide to Planning a 21st Century Business (eBook)

Complete Book of Business Plans (eBook)

How to Write a Business Plan (eBook)

The Easy Step by Step Guide to Writing a Business Plan and Making it Work (eBook)

Business Planning: 25 Keys to a Sound Business Plan (Audiobook)

Your First Business Plan, 5 th Edition (eBook)

Anatomy of a Business Plan (eBook)

Writing a Business Plan and Making it Work (Audiobook)

The Social Network Business Plan (eBook)

Books, Videos, Research Reports & More

As a member benefit, the following resources and more are available for loan through the NAR Library. Items will be mailed directly to you or made available for pickup at the REALTOR® Building in Chicago.

Writing an Effective Business Plan (Deloitte and Touche, 1999) HD 1375 D37w

Have an idea for a real estate topic? Send us your suggestions .

The inclusion of links on this page does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked in this page complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.

Ultimate Guide: 11 Points to Writing a Real Estate Business Plan

Failing to plan is planning to fail. Your business plan is the GPS for success. Instead of wandering, push towards your goals and objectives with clear direction. Developing a real estate business plan is critical to forming a healthy and sustainable business. 

A real estate business plan is an important step for any real estate agent looking to build a successful career in the industry. While there is no one-size-fits-all approach, there are certain key elements that should be included in any plan. First and foremost, it is essential to set clear goals and objectives.

A study of 2,877 business owners found that companies are twice as likely to secure loans and funding if they have a business plan and 75% more likely to grow. Another study showed that 64% of companies who created a plan increased their businesses, compared to 43% of companies that hadn't yet finished a plan. 

Your own business plan is an essential tool for any business, small or large. Real estate agents use business plans to map their marketing strategies, target their advertising, and track their progress. A business plan helps agents set goals and stay on track throughout the year. It is also a valuable reference point when meeting with clients and potential investors. 

While there are many different ways to create a real estate business plan, certain elements should be included in every scenario. These elements include an overview of the business, the company's goals and objectives, a marketing strategy, and a financial analysis. By having these key components, companies can ensure that their real estate business plan is comprehensive and will help them achieve their desired results.

Harvard Business Review (HBR) stated that the chances of success rose by 12% for those that spent no longer than three months on their plan . With any longer proving futile. So, how do you write a business plan for your real estate business without getting bogged down in the details? In this post, we'll look at actionable steps agents and brokers can take to outline, execute and measure the performance of a business plan.

As a real estate agent, you know that the housing market can be unpredictable. You need to be prepared for the ups and downs of the market, and one way to do that is to have a business plan. Your business plan will help you set goals and track your progress. It will also force you to think about the costs of running your business and how you will generate leads. There are many online resources that can help you write a business plan, but the most important thing is to get started. By taking the time to write a plan, you will ensure that your business is ready for whatever the housing market throws your way.

What is a real estate business plan?

A business plan is a written document that captures the future of your business. It details what you plan and how you plan to do it.

Real estate business plans are essential for two reasons. First, they provide a road map for agents to follow as they work to build their businesses. Second, they force agents to think through all the crucial aspects of their business, such as their marketing efforts, target market, and financial goals. 

By taking the time to write a Real Estate Business Plan, agents can ensure that they are taking all the necessary steps to build a successful business.

A Real Estate Business Plan is an essential tool for any business, whether you are just starting or have been in business for years. There are many benefits to creating a Real Estate Business Plan, including: 

• Having a Real Estate Business Plan forces you to take a step back and assess your business as a whole. It allows you to see where your business stands, and identify any areas that need improvement.
• A Real Estate Business Plan provides a roadmap for your business. It can help you to set goals and track your progress over time.
• A Real Estate Business Plan can help secure your business funding. If you seek investment from Venture Capitalists or Banks, they will often require a copy of your business plan before considering your request.
• A Real Estate Business Plan can help you to attract and retain top talent. If you are looking to hire employees or contractors, having a well-crafted business plan can be a significant selling point.
• A Real Estate Business Plan can be a valuable tool for managing day-to-day operations. A clear and concise plan can help you better decide where to allocate resources and how to utilize your team's time and talents best.
• A Real Estate Business Plan can help you to measure and track your marketing efforts. By setting specific goals and objectives, you can more effectively gauge the success of your marketing campaigns and make necessary adjustments along the way.
• A Real Estate Business Plan can serve as a valuable sales tool. A professional business plan can give you a significant competitive advantage if you are looking to sell properties or convert leads into clients.
• A Real Estate Business Plan helps to keep you organized and on track. Trying to run a successful real estate business without a plan is like trying to drive from New York to Los Angeles without a map - chances are, you'll get lost along the way!

Having a Real Estate Business Plan gives you credibility in the eyes of others. If you are working with other professionals such as lenders, appraisers, or title companies, having a well-developed business plan shows that you are serious about your business and increases the likelihood that they will want to work with you in the future.

Last but not least, creating a Real Estate Business Plan is empowering! Taking the time to develop a comprehensive plan shows that you believe in yourself and your business and sets the foundation for long-term success.        

Precisely, it conveys your business goals, the strategies and tactics you'll use to achieve them, potential problems you may run into along the way and how to overcome them, roles and responsibilities, SWOT analysis, and measurement strategies.

What should a real estate business plan include?

Real estate business plans are different from traditional business plans. 

Real estate agents need to focus on their target market, their uniqueness, and how they will succeed against the competition. Real estate business plans should also include an analysis of the current market conditions and the potential for growth in the future. In addition, real estate agents should outline their marketing strategy and have a budget for advertising and promotions. By taking the time to create a comprehensive business plan, real estate agents can increase their chances of success in this competitive industry.

Real estate business plans vary in length and complexity, but all should include the following elements: 

• An overview of the real estate market 
• A description of the agent's target market 
• A marketing plan 
• A financial plan 
• A discussion of the agent's competitive advantages 

Real estate business plans provide a roadmap for agents to achieve their goals. They should include specific strategies for generating leads, marketing properties, and closing deals. The business plan should also outline the agent's budget and target income. Additionally, the real estate business plan should set forth a schedule for prospecting, listing appointments, and open houses. By following a real estate business plan, agents can increase their chances of success in real estate.

How do you assemble a real estate business plan?

A business plan is essential for any real estate business, whether you're just starting out or have been in the industry for years. It provides a roadmap for your business, laying out your goals and strategies for achieving them. But how do you go about assembling a business plan?

First, you'll need to identify your target market. Who are you trying to reach with your real estate business? Once you know your target market, you can start developing your marketing strategy. What methods will you use to get potential clients? How will you differentiate yourself from other real estate businesses in your area?

Next, you'll need to put together a financial plan. What are your revenue sources? How much money do you expect to bring in each month? What are your expenses? How much do you need to save for a rainy day? A clear financial picture will help you make sound decisions for your business.

Lastly, don't forget to include a personal development plan. What skills do you need to improve to succeed in the real estate business? What classes or training programs can you take to close more deals and earn more commissions? A well-rounded business plan will help ensure your real estate business is booming.

Writing a Real Estate Business Plan in 11 Easy Steps

1. write a detailed business description.

There's a story and context behind your business, and the business description is where that should shine. Write a brief overview of your Real Estate business. Include your business goals and how you plan on achieving them. Then create a description of your company, including its history, structure, and other relevant information.

The mission statement is part of the business description — which helps keep the rest on the track. Many mission statements follow a familiar format, like:

"To be the best, full-service Real Estate company in the Triangle and to enhance our quality of life through active community involvement.".

In a microstudy of 200 mission statements, it was found that mission statements most often talk about the company's dedication to customers (85%), shareholders (37%), employees (21%), and society (3%).

As well as a defined mission statement, make sure to include:

• When you were founded
• Where you are located
• Who the leaders are
• Special advantages/partnerships
• Market opportunities
• Legal structure

A very brief real estate business description example is:

"Norris & Company Real Estate is Vero Beach's premier upscale real estate firm. They specialize in luxury waterfront homes and condominiums, particularly in Vero Beach and Indian River County, FL."

2. Market Analysis

Research the Real Estate market in your area and identify any trends or opportunities. Include this information in your business plan.

Real estate agents must constantly be aware of the market conditions in their area to serve their clients best. Agents can provide expert guidance and advice by understanding the trends and opportunities.

When writing your Real Estate business plan, including a comprehensive analysis of the market conditions in your area. It will help you better understand your client's needs and identify potential opportunities.

Your market analysis should include:

• An overview of the Real Estate market in your area
• Identification of any trends or opportunities
• An explanation of how you will address these trends or options in your business plan

By including this information in your Real Estate business plan, you will be able to show potential clients that you are knowledgeable and prepared to help them navigate the Real Estate market.

3. Perform a SWOT Analysis

A SWOT analysis is a technique used to identify and define several key characteristics that will impact your business: Strengths, Weaknesses, Opportunities, and Threats.

Think of it this way:

Strengths and Weaknesses are internal. Threats and Opportunities are external.

An analysis can be as simple as making lists of items under each category.

For example, a strength could be a solid and experienced sales team, while a weakness might be that your business is expensive to run because you haven't nurtured supplier relations.

It could be as simple as filling four sheets of paper with descriptions of the strengths, weaknesses, opportunities, and threats — collaboratively or alone. To make the answers clearer and the exercise more manageable, you can use questions like:

• What do our competitors do better than us? Threat .
• What's our unique selling point? Strength .
• Why have customers churned in the past? Weakness .
• Which markets are underserved in your territory? Opportunities .

4. List Your #1 SMART Goal

It's great to be ambitious, but focusing on one goal makes it easier to stay motivated, track progress, and see the measurable effect of achieving it. Even better if that goal is a SMART Specific, Measurable, Attainable, Realistic, and Timed – goal.

Examples of SMART goals you might set for your growing real estate business are:

• Build a new real estate website in the next three months
• Hire and onboard three new SDRs in the next six months
• Increase monthly leads by 50% by next year
• Sell ten houses in the Dallas metro area in the next 30 days.

Pick one at a time and focus on it! Sticking to an achievable goal with a time limit makes it more likely to come to fruition. And, even just writing it down makes you 42% more likely to attain it.

5. Identify Your Market Niche

Before setting out your facts and figures, it's essential to spotlight your target market and how you'll serve this niche. It helps you decide what's realistic and feasible to achieve in your business plan.

Determining your market niche is a fancier way of saying: Who are your services best suited to? While honing in on a narrow target seems a little exclusionary, niche marketing can save you time, effort, and money on marketing.

One tool to help you define your market is a buyer persona. A persona is a fictional typification of your ideal customer, with information that enables you to steer your sales and marketing in the right direction.

It's essential to assess your niche and ensure it is consistent with the market in your area.

For example, if you've decided to focus on first-time buyers, do some research to look at relevant stats and figures:

• What percentage of sales in your market were to first-time buyers in the last 12–14 months?
• What was the average sales price to first-time buyers?

Also, assess how competitive this market is:

• Are you the only agent catering to the young first-timer?
• Are you competing with well-known heavy hitters?

A competitive SEO audit can be a helpful starting point in finding your competitors in the online space, where almost all leads will turn at some point in the buying process.

6. Implementation Plan

Before you can begin implementing your real estate business plan, you must clearly understand your goals and objectives. What are you trying to achieve with your business? Are you looking to buy and hold properties for long-term appreciation, or are you more interested in flipping houses for a quick profit? 

Once you have a good idea of your goals, you can start to put together a plan for how to achieve them. For example, if you're interested in buying and holding properties, you'll need to generate enough income from rentals to cover the mortgage and other expenses. If you're more interested in flipping properties, you'll need to find motivated sellers and then negotiate deals that provide you with a healthy profit margin. 

Regardless of your goals, careful planning is essential for success in the real estate business.

Breaking your goals into action steps makes them more tangible and ensures you're making strides to fulfill them. Here are some keys to converting your real estate business plan into actual business practices.

7. Monitoring & Evaluation

Successful real estate businesses have a plan to monitor and evaluate their progress. This plan includes setting clear goals, measuring progress against those goals, and making adjustments as needed. Without this proactive approach, it can be challenging to identify areas of improvement or stagnation. 

Additionally, a well-executed monitoring and evaluation plan can help to keep employees focused and on track. By regularly assessing performance and goal progress, businesses can ensure that they are making the most of their resources and achieving their desired results. Ultimately, a sound monitoring and evaluation plan are crucial for any real estate business that wants to stay ahead of the competition.

8. Risk Management

Real estate investing comes with a certain amount of risk. But with a well-thought-out risk management strategy, you can minimize the potential for loss and maximize your chances for success.

One of the most critical aspects of risk management is diversification. Investing in various property types in different markets spreads your risk and increases your chances of finding a profitable investment.

Another critical element of risk management has a solid business plan. Thoughtfully consider each step of the real estate investing process, from finding deals to financing them to managing the properties. Have a clear exit strategy for each investment to know when to sell or refinance. And always remember to stay within your comfort level; don't let greed or fear make decisions for you.

With careful planning and discipline, you can create a real estate investment portfolio that withstands market fluctuations and generates long-term wealth.

9. Financial Plan

Having a sound financial plan for your business is essential. To assist you, we've created spreadsheets you can use to estimate goals, income, and expenses. You will find specific instructions in the spreadsheets, but here are some guidelines for creating a financial plan:

To create your plan, determine what your expenses will be.

Here are three main areas your expenses may fall into:

• Licensing: These expenses will include training, state exam fees, etc.
• Personal: This can consist of your wardrobe, technology fees (like computer and phone), and car fees.
• Business: Business expenses include broker fees, website and MLS fees, marketing, advertising, etc.

Our template divides these expenses into the startup and yearly costs to help you discern which payments will recur and which are one-time-only. Here's an example of what your startup expenses might look like.

Yearly expenses might include recurring costs like office rent, electricity bills, and annual license fees.

Estimating income is the biggest concern for most new agents. To do this, you must decide how much money you need to make in your first year and how much you would like that figure to grow. You will also need to research some basic statistics for your market, like the average sale price for homes.

Use our business plan template to help calculate these numbers.

Transactions and Leads 

To meet your income goals and cover expenses, you'll need to conduct a certain number of transactions. And, to complete a certain number of transactions, you'll need to work a set number of leads. There's no need to work this figure out by hand. ‍

Our template will automatically calculate the number of transactions and leads you will probably need to meet your goals. Still, you will have to assess these figures to decide whether they are reasonable. For example, if you plan to work part-time as an agent in your first year but need to close 20 transactions to meet your goals, you are unlikely to have enough time.

10. Create a Personal Development Plan

A personal development plan is an essential tool for any real estate business. By taking the time to assess your strengths and weaknesses, set goals, and create a roadmap for success, you can ensure that your business is on track to reach its full potential. While it may seem daunting, creating a personal development plan is simple. 

Start by taking stock of your current situation. What are your strengths and weaknesses? What are your goals for the future? Once you clearly understand where you are starting, you can begin to map out a plan of action. Set realistic goals and create a timeline for achieving them. Put together a resources list and ensure you have everything you need to reach your goals. Finally, implement your plan and monitor your progress along the way.

Remember, your development plan should be flexible and adapt as your needs change over time. With some planning and effort, you can create a roadmap for success that will help you achieve your long-term goals in the real estate business.

11. Write an Executive Summary that Captures the Vision

Your executive summary is an anchor point you can use to understand the overall goals, cement the parameters of your target market, and make decisions aligned with your plan. It's also a way to get inspired by your original vision.

For real estate, it would include points on:

• Target neighborhoods and price ranges
• Target clients and a brief description of the persona
• Brief marketing plan overview
• Market threats and opportunities

Think of the executive summary as the section of your business plan you would explain to a friend a football game when asked how you plan to make money as an agent or broker in your local town/ city or state.

Note: due to the specific details in the executive summary, this part of the business is typically one of the last completed items.

Real Estate Business Plan Template

If you're considering starting a real estate business, you'll need to create a business plan template. Here's a basic template that you can use to get started. Remember that your business plan should be tailored to your specific business and industry.

• Executive Summary

The executive summary is a brief overview of your business plan. It should include your company's mission statement and an overview of your products or services, target market, and growth strategy.

• Company Description

This section will provide an overview of your company, including its history, structure, and team. Be sure to include information on your company culture and values.

• Mission statement

In this section, you will summarize the reason for being and the guiding principles of your organization. For example: "We are a nonprofit that provides free legal aid to those in need." You can also provide a brief overview of what we want them (the users) to come into contact with. 

Why should they care about our mission or message by telling them why it is vital to their lives now and later down the line?

• Company goals

This section will provide a high-level overview of your company's top business goals for its first years in operation.

• Market Analysis

In this section, you will need to analyze your target market thoroughly. It should include information on your customers, your competition, and the overall industry.

• Product or Service

In this section, you will need to describe your product or service. Be sure to include information on your pricing strategy and any unique features or benefits your product or service offers.

• Marketing and Sales Strategy

In this section, you will need to outline your marketing and sales strategy. It should include information on how you plan to generate leads and convert them into customers.

• Operational Plan

This section will need to provide an overview of your business operations. It should include your production process and distribution and fulfillment strategy.

This section will briefly describe what your company offers to customers.

• Target customer

To effectively reach the people we want as customers, you must provide a clear overview of who they are and how your product or service can benefit them. In this section, I'll go over some questions worth asking yourself when determining who your potential clients may be. 

• Best Practices

Write out your ideal practices for how you'll deal with qualified leads versus unqualified leads, how quickly you'll follow up with interested parties, your methods for helping a leader throughout the final steps of the sales process, and how you'll stay in touch with customers after papers have been signed.

• Financial Plan

In this section, you will need to provide detailed financial information for your business. It should include your income, balance, and cash flow statements. The following will include startup expenses, assets, liabilities, capital, break-even analysis, and loan repayment.

• Exit Strategy

This section will need to provide an overview of your exit strategy. It should include information on how you plan to sell or exit your business in the future.

Individual Agent Real Estate Business Plan

Real estate agents need a business plan like any other entrepreneur. A real estate business plan outlines your goals, strategies, and how you plan on achieving them. It is essential to have a business plan because it will help you stay focused and on track. Real estate is a competitive industry, so you need to be able to stand out from the rest.

A business plan will also be helpful if you ever need to seek funding for your business. Investors and lenders will want to see that you have a well-thought-out plan before they give you money. 

Creating a Real Estate Business Plan is essential if you want to build a successful career in real estate. With our easy-to-use template, you can get started today and be on your way to achieving your long-term goals.

There are many benefits to creating a Real Estate Business Plan, including:

• Clarifying your goals and strategies
• Mapping out a clear road map for your business
• Identifying potential obstacles and solutions
• Helping you stay organized and on track
• Increasing your chances of success

So, if you are considering starting a real estate business, sit down and write a business plan. It will be worth it in the long run!

Real Estate Team Business Plan

Before you start your real estate team, it's essential to have a business plan in place. It will help you define your goals, map your strategies, and track your progress over time. While there is no one-size-fits-all approach to creating a business plan, certain key elements should be included. Here are a few of the most important things to keep in mind:

• Your team's mission statement: What sets your team apart from the competition? Why do you exist?
• Your target market: Who are you trying to reach with your services? What needs do they have that you can address?
• Your marketing strategy: How will you get your target market and communicate the benefits of working with your team?
• Your financial goals: How much revenue do you hope to generate? What are your expenses? How will you fund your business?

By thoughtfully developing your real estate team business plan, you'll increase your chances of success in an increasingly competitive industry.

Real Estate Brokerage Business Plan

A real estate brokerage business plan is a document that outlines the goals, strategies, and financial projections of a real estate brokerage business . It should include an executive summary, market analysis, business model, operational plan, and financial plan. The executive summary should briefly describe the company, its target market, and its competitive advantages. The market analysis should assess the size and growth potential of the target market. 

The business model should describe how the real estate brokerage plans to generate revenue. The operational plan should outline the business's day-to-day operations, including staffing and marketing initiatives. Finally, the financial plan should provide detailed information on the anticipated costs and revenues of the company. A well-crafted real estate brokerage business plan can be valuable for attracting investors and achieving long-term success.

Remember that your business plan is a living document that should be updated as your company grows and evolves. Regularly reviewing and revising your business plan ensures that your real estate brokerage is always moving in the right direction.

Ready. Set. Plan

Whether you've got a ready-to-execute business plan or it's still being drafted, the most important thing is to start now — and fast.

At its core, a real estate business plan should outline the steps necessary to achieve specific goals, such as increasing sales or expanding into new markets. It should also identify potential obstacles preventing the business from achieving its objectives. By taking the time to create a comprehensive business plan, real estate businesses can increase their chances of weathering storms and coming out on top in the long run.

A business plan puts you on a clear track that makes your business 75% more likely to grow.

By following the above points, you'll be well on writing a comprehensive Real Estate Business Plan.

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• Sample Business Plans
• Real Estate & Rentals

Real Estate Business Plan

People would always need to find places. Be it for offices, homes, and whatnot.

Finding the ideal place irrespective of your needs and requirements is never a cakewalk, to begin with.

You can go through a number of real estates business plan templates before you write your plan.

Industry Overview

The market size, measured by revenue, of the Real Estate Sales and brokerage industry, is $156.2bn in 2021, and the industry is expected to increase by 0.4% in 2021.

Also, the market is changing at a rapid rate and the way people use spaces is changing at a rapid rate too.

Hence, to get on or stay on the higher end of the spectrum you’ll need to upskill and change the way you do business constantly.

But that is a fair trade for the amount of growth and profitability this industry has to offer.

Say goodbye to boring templates

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Plans starting from $7/month

Things to Consider Before Writing a Real Estate Business Plan

Be specific.

The real estate industry is broad when it comes to work and what you can do. It can either be a source of primary or passive income. At the same time, you might be involved in the industry as an investor, agent, or builder. Decide what you want to do and plan on that basis.

Do your research

The trends of the real estate business change constantly, hence doing your research and updating it constantly is a crucial part of your profession.

As your knowledge and expertise is your greatest asset in this industry, keep expanding it to stay at the top of things.

Build a team of skilled professionals

Having a team you can build your real estate business with is essential.

Select a group of individuals with a diverse set of talents ranging from good communication skills to brilliant analytical skills. Given the dynamics of the real estate business, you never know what skills might come in handy in your business journey.

Be ready for change

As we have constantly discussed, real estate is a dynamic industry. Change is the only constant you’ll have in this business.

Thus, it is important for everything from your plan and way of doing business to be change-friendly.

Sources of Funding for a Real Estate Business

Gaining funds is one of the major reasons for writing a business plan. And here are a few good funding options for your real estate business:

A traditional loan is one of the most basic options for getting funded. You can opt for this if you have a good credit score.

Non-bank mortgage lending

This is a good option if you don’t want to go through a lot of paperwork.

The asset-based mortgage

For this, the lenders look at the rental value of your property and provide a loan on that basis. It is a good option if you don’t want or can’t get a loan based on your personal assets or income.

Above all, it is essential to plan your business to figure out your funding requirements and the right way to fulfill the same.

Write Your Business Plan

If you have enough connections, and the ability to find places for people that have attributes they want and need then a real estate business can be a profitable one for you.

A business plan helps you get funded, explain your ideas to the stakeholders of your business, and make better decisions.

Hence, planning is an important aspect of starting or growing your business.

It has been created using Upmetrics online business plan software that helps you create dynamic and customizable plans anywhere and at any time.

Our sample real estate business plan can help you with writing a well-rounded business plan for your business. It can act as a guide and prevent you from getting stuck in a certain section for too long.

Real Estate Business Plan Outline

This is the standard real estate business plan outline which will cover all important sections that you should include in your business plan.

• Market Opportunity
• Demand for Housing
• Financing & Investment Forecast
• Introducing Kegan
• Business Model
• Short Term Goals
• Long Term Strategies
• Keys to Success
• Contemporary Living for the 21″ Century
• The Complete Package
• Pricing Strategy
• Implementation Strategy – Action Plan
• Target Market Overview
• Housing Shortage Overview in Saudi Arabia
• Housing Shortage Overview in Riyadh
• Housing Prices
• Kegan Home Prices
• Market Positioning & Brand
• Marketing Strategies
• Sales Strategies
• Sales Process
• Competitive Landscape
• Competitive Advantages
• Rashid Bin Said
• Director of Construction
• Member name
• Chief Accountant
• Director of Marketing & Sales
• Other Staff
• Independent Directors
• Solid Balance Sheet
• Impressive Cashflow
• Financial Summary
• Financial Assumptions
• Income Statement (Five-Year Projections)
• Balance Sheet (Five-Year Projections)
• Cash Flow Statement (Five-Year Projection)

After getting started with Upmetrics , you can copy this sample real estate business plan into your business plan and modify the required information and download your real estate business plan pdf or doc file.

It’s the fastest and easiest way to start writing your business plan.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

Download a sample real estate business plan

Need help writing your business plan from scratch? Here you go;  download our free real estate business plan pdf  to start.

It’s a modern business plan template specifically designed for your real estate business. Use the example business plan as a guide for writing your own.

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Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Real Estate Agent Business Plan Template

Written by Dave Lavinsky

Business Plan Outline

• Real Estate Agent Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan

Real Estate Agent Business Plan & Example

You’ve come to the right place to create your real estate agent business plan.

We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their real estate agencies.

Real Estate Business Plan Example

Below are links to each section of your real estate agent business plan template:

• Executive Summary – The Executive Summary is the most important part of your business plan. It is a brief overview of your real estate agency, its products and services, niche market opportunity, and competitive advantage.
• Company Overview – In the Company Overview, you will provide a detailed description of your real estate agency, its products and services, company structure, management team, and Founders.
• Industry Analysis – The Industry Analysis is a critical part of your real estate business plan. Here, you will provide an in-depth analysis of the industry in which your real estate agency operates. You will cover topics such as industry trends, major players in the industry, market size and growth, and profitability.
• Customer Analysis – In the Customer Analysis, you will identify your target market and provide insights into their needs and buying habits. You will also segment your target market and discuss your marketing strategy for reaching them.
• Competitive Analysis – In the Competitive Analysis, you will identify your competition and provide insights into their strengths and weaknesses. You will also discuss your competitive advantage and how you plan to stay ahead of the competition.
• Marketing Plan – In the Marketing Plan, you will discuss your marketing strategy and tactics. You will also provide a sales forecast and budget for your marketing activities.
• Operations Plan – In the Operations Plan, you will discuss your business’s day-to-day operations. You will also provide business milestones that you plan to achieve and a budget for your operational expenses.
• Management Team – In the Management Team section, you will provide an overview of your management team and their experience in the real estate industry.
• Financial Plan – In the Financial Plan, you will provide a three-year financial projection for your real estate agency. This will include your income statement, balance sheet, and cash flow statement.

Next Section: Executive Summary >

Real Estate Business Plan FAQs

What is a real estate business plan.

A real estate business plan is a plan to start and/or grow your real estate business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can  easily complete your real estate business plan using our Real Estate Business Plan Template here .

What Are the Main Types of Real Estate Businesses?

The most commonly known type of real estate business is residential real estate sales. This involves the sale and purchase of homes. The other type of real estate business is commercial real estate, where businesses focus on commercial properties.  Other types are real estate investors, lease companies and property management.

What Are the Main Sources of Revenues and Expenses for a Real Estate Business?

The main source of revenue for a real estate business are commissions earned from client real estate sales and rentals fees. Other revenue generated in this business are profit income, interest income and dividend income.

The key expenses for property management companies are salaries and wages, advertising, travel and supply costs for each transaction.

How Do You Get Funding for Your Real Estate Business Plan?

Real estate businesses are typically funded through small business loans, personal savings and credit card financing.

What are the Steps To Start a Real Estate Business?

Starting a real estate business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Real Estate Business Plan - The first step in starting a business is to create a detailed real estate business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your real estate business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your real estate business is in compliance with local laws.

3. Register Your Real Estate Business - Once you have chosen a legal structure, the next step is to register your real estate business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your real estate business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Real Estate Equipment & Supplies - In order to start your real estate business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your real estate business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful real estate business:

• How to Start a Real Estate Business

Where Can I Get a Real Estate Business Plan PDF?

You can download our free real estate business plan template PDF here . This is a sample real estate business plan template you can use in PDF format.

10 Things Your Real Estate Business Plan Needs (FREE Template)

A real estate agent business plan is essential for success in today’s competitive market. It helps you set clear goals, define your vision, and outline the steps to achieve short-term and long-term objectives. As a real estate professional, having a well-crafted business plan can be the difference between being a top producer and struggling to make ends meet.

In your business plan, you’ll want to start by creating a vision statement that outlines the purpose of your real estate business and reflects your values. Setting firm goals will help you stay accountable and focused, allowing you to adapt to market changes or growth and remember that your business plan should be fluid and up-to-date to stay aligned with your ultimate objectives.

Your real estate agent business plan should be thorough, covering various aspects such as market analysis, organization structure, and marketing strategies. By having a comprehensive plan, you’ll be better equipped to navigate the challenges and seize the opportunities that come your way, ensuring your real estate business flourishes.

Understanding Your Target Market

Identifying your ideal client.

Understanding your target market is crucial to establish a successful real estate business plan. Begin by identifying your ideal client. Consider factors that may define your target clients, such as age, income level, family status, and property preferences. Reflect on your strengths as an agent and which clients you connect best with. This will help you focus your marketing efforts and create tailored strategies for your target audience.

Market Segmentation

Market segmentation divides your target market into smaller, more specific groups based on shared characteristics. In real estate, you can segment your market into categories such as:

• First-time homebuyers
• Empty nesters

By segmenting your market, you can tailor your services and communication strategies according to the unique needs of each group. This will lead to more effective marketing efforts and a better understanding of your potential clientele.

Analyzing Local Market Trends and Opportunities

Gather data on your local real estate market to identify trends and opportunities for your business. Analyze factors like:

• Market growth
• Market saturation
• Local property values
• Employment rates
• Infrastructure development
• Population demographics

By analyzing local market trends, you can identify areas with potential growth or areas that are becoming overly saturated. Use this information to adapt your services and expertise to market conditions, helping you stand out among competitors and position yourself as an expert in your niche.

Remember, a comprehensive understanding of your target market is essential for shaping your real estate agent business plan. By identifying your ideal clients, segmenting the market, and analyzing local market trends and opportunities, you’ll be better equipped to create tailored marketing strategies and make informed business decisions. This will ultimately contribute to the success and growth of your real estate business.

Lead Generation Strategies

Building an online presence.

To create a robust lead generation plan, build a strong online presence. A real estate agent must have a well-designed and user-friendly website to capture leads. Keep these factors in mind:

• Make sure your website reflects your branding and expertise
• Optimize your site for search engines to enhance its visibility in search results
• Include clear calls-to-action (CTAs), so potential clients can easily contact you
• Utilize high-quality images and videos to showcase properties
• Share helpful and informative content through a blog or resources section

You can also leverage social media channels to expand your reach and showcase your expertise in the industry. Focus on the platforms most relevant to your target audience and share valuable content related to real estate, local events, or home improvement tips.

Networking and Referrals

Building a strong professional network is essential for generating quality leads. Here are some strategies to boost your referral pipeline:

• Attend networking events, conferences, or workshops in your area. Engage with professionals in real estate or related industries
• Establish relationships with local businesses and community organizations
• Hold open houses or host educational seminars to engage potential clients in person
• Develop relationships with past clients and ensure you stay top of mind so they recommend you to their connections

Additionally, create a referral program that rewards clients and other referrers for sharing your services with their network. This will incentivize them to talk about you and help expand your reach.

Traditional Marketing Methods

Despite the increasing importance of digital marketing, traditional methods still have their place in generating leads for real estate agents:

• Send direct mail campaigns, like newsletters or postcards, to targeted neighborhoods, highlighting your strengths and successes
• Advertise in local print media, such as newspapers or specialized real estate publications
• List your services and properties in industry-specific directories, both online and offline
• Design and distribute eye-catching flyers, brochures, and business cards
• Participate in community events or sponsor local charities to enhance your company’s reputation and visibility

Make sure to keep track of the effectiveness of each lead generation method and evaluate their strengths and weaknesses. This will help refine and improve your overall marketing strategy and ensure you invest resources into the most productive channels.

Lead Conversion Techniques

Building rapport and trust.

To build rapport and trust, focus on the following:

• Be genuine and authentic with your prospects, showcasing your expertise and knowledge.
• Listen actively, taking the time to understand their concerns and needs.
• Display empathy towards their situation, offering tailored solutions for their specific problems.
• Stay engaged through the entire process, from the first interaction to closing.

Qualifying Leads

When it comes to qualifying leads:

• Ask open-ended questions to gauge their needs, timeline, and motivation for buying or selling
• Inquire about their financial situation and any potential barriers they may have
• Learn more about their preferred neighborhoods, housing type, and other preferences
• Prioritize leads based on their level of interest and readiness to move forward

Effective Communication and Follow-Up Strategies

For better communication and follow-up:

• Establish a consistent schedule for checking in on leads, such as every few days or weekly
• Personalize your communication, tailoring messages to each lead’s unique situation and preferences
• Practice active listening and respond thoughtfully to their questions or concerns
• Utilize several communication channels, including email, phone calls, text messages, and social media

Utilizing CRM Systems for Lead Management

Leveraging CRM systems can help you organize and optimize your lead management process:

• Track important lead information and interaction history in a centralized location
• Set reminders for follow-up tasks, appointments, or important milestones
• Analyze your leads’ behavior to understand their needs better and provide personalized service
• Create targeted marketing campaigns to engage your leads and nurture them toward conversion

By implementing these techniques and focusing on leads, marketing strategies, and communication, you’ll be well on your way to creating a thriving real estate agent business.

Closing Deals and Earning Commissions

Negotiation tactics.

When closing deals, it’s crucial to employ effective negotiation tactics to help both you and your client reach a favorable outcome. Some negotiation tactics include:

• Understanding the market: Know the local market trends and use this information when discussing price adjustments or concessions.
• Compromise: Find common ground and offer reasonable solutions to meet both parties’ needs.
• Leverage: Use your expertise in the real estate industry to highlight your client’s strengths and make convincing arguments.

Handling Objections and Overcoming Challenges

As a real estate agent, you’ll encounter objections and challenges in closing deals. To address them efficiently, consider the following points:

• Listen to the client’s concerns and empathize with their situation.
• Identify the objection: Determine the root cause of the objection and respond with a compelling solution.
• Maintain professionalism: Stay calm and composed, avoiding confrontational behavior.

Preparing and Presenting Offers

Presenting a well-prepared offer is vital to increasing the chances of closing a deal. Keep in mind:

• Research: Analyze comparable properties in the area to establish a competitive price for the offer.
• Documentation: Ensure that all necessary documents, such as pre-approval letters and proof of funds, are in order.
• Presentation: Employ clear and concise communication when presenting the offer, highlighting its benefits to the seller.

Managing the Transaction Process and Paperwork

Effectively managing the transaction process and paperwork helps keep the deal on track, which includes:

• Organization: Maintain an organized system for tracking important deadlines and required documents.
• Communication: Regularly update all parties involved in the transaction, ensuring they know the progress and address any concerns.
• Attention to detail: Ensure all forms, contracts, and other documents are accurate and complete.

By successfully closing deals, you’ll earn commissions based on your agreed split with your broker. For instance, if you close a deal worth $350,000 with a 6% commission rate, the gross commission income will be $21,000. If your commission split with your broker is 70/30, you’ll earn $14,700 while your broker receives $6,300. Utilizing the strategies discussed in this section will help you maximize your commission income and prove beneficial to your real estate business plan.

Client Retention and Building Repeat Business

Maintaining client relationships after closing.

Building lasting relationships with your clients is essential for repeat business and referrals. After closing a deal, continue to provide value by offering support with any post-closing issues, such as paperwork or maintenance concerns. Keep in touch with your clients and remember important milestones, such as anniversaries or birthdays. Show appreciation for their trust in you by sending thoughtful gifts or cards or simply checking in periodically.

Asking for Referrals and Testimonials

Word-of-mouth marketing is an incredibly powerful tool in the real estate industry. Encourage your satisfied clients to share their positive experiences with friends and family. To achieve this, be proactive in asking for testimonials and reviews, which you can later showcase on your website, social media, and other marketing materials. Here are some strategies to obtain them:

• Reach out via email or phone, and kindly request a testimonial or referral
• Provide a simple template to make it easy for clients to write a review
• Offer incentives, such as discounts on future services or gift cards, to show gratitude for their time and effort

Staying Top-of-Mind Through Regular Communication and Updates

Establish regular communication with your past clients to stay top-of-mind and generate repeat business. Keep them informed about the latest market trends, neighborhood developments, or listings that interest them. Here are some communication tactics you can employ:

• Send personalized monthly or quarterly e-newsletters
• Share relevant content, such as articles or videos, on your social media platforms
• Organize events, like client appreciation parties or educational seminars, to maintain connections and foster new ones

Maintaining client relationships, requesting referrals, and staying top-of-mind through regular updates will strengthen your real estate business with repeat clients and new prospects. Remember, satisfied customers are the key to long-term success in the real estate industry.

Measuring Success and Adjusting Your Strategies

Setting goals and key performance indicators (kpis).

To measure the success of your real estate agent business plan, start by setting SMART goals (Specific, Measurable, Achievable, Relevant, and Time-bound). These can serve as benchmarks for success and provide direction on areas to focus your efforts. Consider setting goals for various aspects of your business, such as sales volume, new client acquisition, and customer satisfaction.

In addition to your goals, establish key performance indicators (KPIs) to track your progress. KPIs are quantifiable metrics that help you evaluate the effectiveness of your strategies. Examples of KPIs for a real estate agent business plan include:

• Number of new leads generated per month
• The conversion rate of leads to clients
• Average days on market for properties
• Percentage of listings sold

Tracking and Analyzing Results

With your goals and KPIs established, continually collect and analyze data to track your progress. Regularly monitoring your results allows you to identify trends, spot potential problems, and evaluate the effectiveness of your marketing efforts. Some methods to track your data include:

• Using a CRM system to manage client relationships and interactions
• Employing analytics tools to evaluate the success of digital marketing campaigns
• Conducting a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) to identify areas where you excel or need improvement

Pay close attention to competitor performance and market trends to better understand how your strategies compare and identify any gaps you may need to address.

Adapting and Optimizing Your Strategies Based on Data

Once you’ve gathered and analyzed your data, use insights to adapt and optimize your strategies. Make data-driven decisions to improve your marketing efforts, streamline processes, and better allocate resources. Some steps you can take include:

• Adjusting your marketing budget and tactics based on your marketing ROI
• Revisiting your goals and KPIs to ensure they still align with your overall business objectives
• Fine-tuning your pricing strategies or the type of properties you focus on to meet market demand better

Maintaining a proactive approach to adjusting your strategies will keep your business plan agile and responsive to the changing real estate market. This will go a long way in helping you achieve the success you envision for your real estate agent business.

Time Management and Organization

Prioritizing tasks and setting a daily schedule.

In your real estate agent business plan, it’s crucial to have a time management and organization strategy. Start by prioritizing tasks that align with your [business goals]. Break down tasks into daily, weekly, and monthly goals. Then, create a daily schedule following the block scheduling method:

• List your key tasks for the day.
• Assign specific time blocks for each task.
• Stick to the schedule and avoid multitasking.

You’ll notice increased productivity and improved time management with this approach.

Using Productivity Tools and Apps

Take advantage of productivity tools and apps to help you stay organized and manage your time efficiently. Some popular tools for real estate agents include:

• Calendars: Apps like Google Calendar or Outlook can help schedule appointments and manage deadlines.
• Task Managers: Utilize tools like Trello, Asana, or Todoist to manage your projects and collaborate with your team.
• Time Tracking: Apps such as Toggl or Harvest provide insights into your work habits, helping you identify areas for improvement.

Remember to limit the number of tools you use to avoid digital clutter and duplicate information.

Delegating and Outsourcing Tasks When Necessary

As a real estate agent, delegating and outsourcing non-core tasks is essential to focus on your primary responsibilities. Here are some tasks you can consider delegating:

Identify areas where your expertise may not be as strong or where your time can be better spent, and consider outsourcing those tasks to professionals. This approach will help you manage your workload and improve the quality of your services.

Ongoing Education and Professional Development

Staying up-to-date with industry trends and changes.

To stay competitive in the real estate market, you must keep up with industry trends and changes. By monitoring resources like the National Association of Realtors (NAR), California Association of Realtors (CAR), and multiple listing services (MLS), you can stay informed about the latest developments in your field. Set aside time to read industry publications, attend webinars, listen to podcasts, and follow industry-leading professionals on social media.

Pursuing Relevant Certifications and Designations

Continuing education is crucial for staying current in the fast-paced real estate industry. Pursue relevant certifications and designations to add credibility and value to your practice. Organizations like NAR and CAR offer various designations demonstrating your expertise and commitment to professionalism to clients and colleagues.

Examples of real estate certifications and designations include:

• Accredited Buyer’s Representative (ABR)
• Certified Residential Specialist (CRS)
• Green Designation (Green)
• Seniors Real Estate Specialist (SRES)

To obtain these certifications, you must complete specific coursework, pass exams, and maintain membership in the relevant organizations.

Participating in Networking and Learning Events

Engaging in networking and learning events within the real estate community can help you build relationships, share ideas, and learn from the experiences of others. Attend conferences, workshops, and local meetups relevant to your niche, region, or areas of interest. Not only will this enhance your industry knowledge and skills, but it can also be an opportunity to form valuable connections that will benefit your business growth.

In summary, staying up-to-date with industry trends, pursuing certifications and designations, and participating in networking events can help you maintain and develop your skills as a real estate professional. Committing to continuous learning and professional development is essential to ensure your long-term success in the real estate business.

A well-structured business plan is essential for success as a new real estate agent. With a solid plan, you can set your goals, identify your target market, and analyze your competition. A comprehensive business plan lets you plan your marketing strategies, map your operating expenses, and create revenue projections.

To get started, consider using a business plan template tailored to real estate agents’ needs. This will give you a framework to follow as you develop your plan.

Developing a business plan is just the first step in the process. You need to take action and implement your strategies to realize your goals and achieve success. Revise your plan regularly, adapting and updating it as needed. This will ensure you stay on track with your goals and remain competitive in the ever-changing real estate market.

As a new real estate agent, taking bold steps toward your objectives may feel intimidating. However, trust your plan, apply your outlined strategies, and stay persistent. Your dedication will pay off in the long run.

Starting a career in real estate can be challenging, but you don’t have to face the journey alone. There are numerous resources and support networks available to help new real estate agents excel:

• Professional networks : Join local real estate associations and online forums to connect with experienced agents, ask questions, and expand your knowledge.
• Mentors : Seek accomplished real estate agents who can offer guidance, share valuable experiences, and provide personalized advice.
• Training and education : Keep your skills fresh by attending workshops, participating in webinars, and pursuing continuing education courses relevant to your field.

By leveraging these resources and committing to your business plan, you are setting yourself up for a successful career in real estate. Don’t forget to celebrate your achievements along the way and take pride in your progress. Now is the time to take action; you will surely achieve your goals with determination and hard work.

Would You Like To Partner With Me?

I’ve helped hundreds of real estate agents, team leaders, & brokers all over the country increase their sales, online presence, and create scalable systems. I would love the opportunity to work with you. Together , we can make this year your best yet!

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Create a Real Estate Business Plan: Template, Tips & More

A real estate agent business plan is a document that outlines your comprehensive strategy to grow your real estate business. It outlines important milestones of your approach, identifying what your goals are and how you will achieve them.

Because of the nature of the real estate business, you can construct plans as a broker, agent, etc. There are several ways to focus your goals and tactics when you are writing a real estate business plan, and each specific role you have will change what you’re trying to achieve and how you will do it.

It’s fundamentally important to remember that in real estate, there are two things to keep on the top of your mind:

• You are your own boss and manage your own business.
• Being busy doesn’t always mean that you’re making money.

Combining these two important thoughts leads us to one conclusion — that having a written-out plan will help determine what you’re trying to accomplish and will help keep you committed to a specific plan of action. A business plan for real estate agents is sure to help you identify measurable goals while helping you stay on a predetermined route to reach your ambitions.

Additionally, a plan will identify prospective issues you expect to run into and how you plan to overcome them. The plan will assign roles and responsibilities, and allow you to measure your success as your business progresses.

It’s important to know that you’re not in this alone – we have an experienced team of coaches who can help you  create a real estate business plan that makes it simple and easy.

Why Create a Real Estate Business Plan?

Studies  have shown that creating a business plan for real estate can increase your chance of success by 12%. Additionally, it can raise your chances of success by 27% when you commit to writing a real estate business plan and combine it with other things like talking to prospective customers, making marketing materials, and getting yourself ready for business.

What’s more, you will be taken more seriously by potential business partners, brokers, and banks because you have dedicated time to sit down and devise a written plan that precisely outlines the actions you plan to take. This shows that you have placed significant personal investment in your business, and gives others peace of mind that they can join you in this venture.

A real estate business plan gives you a clear direction and an operational checklist for identifying your goals. Some questions it will answer are:

• Who is my prospective client?
• How much do I want to earn?
• What do my sales need to look like to reach my ideal take-home pay?
• How will I cover the expenses of my business?

A plan is not set in stone and allows for adjustments as situations arise – but should be thoroughly devised enough to help you overcome foreseeable challenges like identifying leads and finding funding money to get started.

How to Start

Executive summary.

The executive summary of a real estate business plan establishes your hopes and dreams, a broad overview of how you plan to accomplish them, and highlights from the research used to support your decisions.

It should identify who your potential clients are, the areas you plan to focus on, and any potential sales opportunities (for example, the average house in this area is $450k). If there are any competitive assessments, those are also important to note here.

In many ways, consider this your elevator pitch. Given 30 seconds, or the amount of time you were in an elevator with someone, how would you describe your ability to  be profitable in real estate ?

Write a Detailed Business Description

If you’ve ever seen the show, “Shark Tank,” you’d be familiar with how the business owner stands in front of the investors and shares their story about why they should invest in their product. This is the detailed business description of your plan, where you tell what inspired you to get involved in real estate.

The description will highlight the opportunity and how you plan to make the most of it, while answering ‘who, what, when, where, how, and why’. Who is your prospective client? What makes you different and what is your client looking for? When are they typically looking to buy or sell their property? How do they typically start their search or process of selling their home?  Questions like these  will help shape your detailed business description to answer questions that you might not think about at first.

Perform a SWOT Analysis

If you’re unfamiliar with the term “SWOT”, it stands for (S)trengths, (W)eaknesses, (O)pportunities, (T)hreats. When applying a SWOT analysis to writing a real estate business plan, the coined term helps you identify some of the core questions that arise when planning.

Strengths address what makes you different and a better choice than your competition. Will you be more knowledgeable? Have you lived in the area you’re targeting your whole life? Are you a well-known member of the area who already has created a personal brand that will go far in real estate?

Weaknesses address the exact opposite. What things are you lacking? What things do others do better? Naturally, if you’re breaking into real estate, one of the first things you’d note is experience. Having multiple weaknesses isn’t a  bad  thing. It means you’ve identified potential issues and how to overcome them. For example, a new agent with experienced coaches can quickly overcome the example weakness.

Creating a Strategic Real Estate Business Plan

Defining your marketing strategy.

As much as you would like to be the perfect fit for all clients, the reality is that you are going to have a specific type of client that’s going to work the best with you. Maybe it’s someone from a specific area of town, first-time homebuyers, those using specific types of financing options, or those in the Armed Forces.

Identifying your market niche isn’t going to limit you to a specific clientele, but it’s going to direct your marketing and branding so that you’re not throwing lots of things and hoping that something sticks. This means saving time and money by directing your marketing efforts to the most meaningful ways, giving you the biggest bang for your buck.

Understanding the marketing strategy aspect of your real estate business plan will help you know who your target is, what their defining characteristics are, what services they are seeking, and help you understand how to grow those specific relationships.

Understanding  how you will generate leads  is incredibly important in developing your plan. If you don’t have leads, you won’t have sales — which means you won’t make money. Because of the nature of the business, you’ll need to understand how prospective clients start the process (which is usually through looking at things online).

Creating a Financial Plan

An important aspect of writing your business plan will always include money. Here you will identify your expenses, income, and estimate your sales goals. It’s important to create realistic and well-thought-out measurements in this section, to understand how your plan will come together.

When looking at your expenses, consider all things that will change for you on a licensing, personal, and business level. Licensing may seem self-explanatory, but ongoing education, covering multiple states, and other things might pop up. Personal expenses are also easily overlooked — will you need to buy different clothes, will a new smartphone be important to your work, and will your cost of gas rise? Business expenses are things like your broker fees, advertising costs, and other things often charged directly from your office.

A true financial plan is not a rough collection of estimates or guesstimates. It’s a close look at the reality of the costs you will be facing when you choose to start on the endeavor, and a true understanding of what it will take to achieve your goals. One of the basic goals you will look at financially is the ability of real estate to keep you economically profitable in consideration of your time and resources.

Analyze Your Local Competition

In-depth research into your local competition will help you beyond your SWOT analysis. When you’re looking at other offices that might be competing with you, consider what sets you apart and makes you different. Also,  use this competitive insight to grow your brand  and sharpen the services that you offer to clients.

For example, if your focus is on first-time homebuyers, are there any competitors that also have this focus? What do they do that seems to work? What can you offer that they don’t? There are generally four areas that will set you apart in regards to your competition; the product (your brand and focus), the price (your commission and price you seek for your clients), the place (your ideal market you’ve chosen to focus on), and promotion (meaning the way you’ll choose to market to generate leads).

Understand Your Ideal Customer

Understanding your customer is critical in writing a real estate business plan. Without that important link, you won’t meet your goals, your marketing dollars will be wasted, and your time will be spent without result.

The important things to know about your customer are:

• How do you reach them? Will they respond better to emails, texts, or calls?
• What matters to your clients? Is it more space, interior luxury, or location?
• What brand does your client subscribe to? Will they value Walmart or Whole Foods more?
• What matters most to your prospective buyer? Is it space, price, or something else?
• What is your ideal demographic? This is age, sex, etc.

Having a firm grasp on these important things will help you develop your plan so that you can speak to what your market research is telling you. Perhaps your opportunity is in selling new homes in an up-and-coming area, or to military families who have been given new orders near a base. Referrals and leads will always attract outside of your ideal mindset, but this will help you focus your efforts.

Implementing Action Plans

An action plan is a carefully considered set of steps to take in  achieving a specific goal . For example, if your goal is to get ten new leads a month, an action plan will help you get there. An action plan establishes a clear goal and the different things that need to be done to reach your objective.

You might have different action plans for marketing, closing sales, ongoing education and personal development, social media goals, etc. All of these individual action plans will help carry your real estate business plan to fruition.

Evaluating and Revising Your Plan

Your business plan is sure to be a living document as time goes on. With a constantly evolving real estate market, it is critical to stay up to date with the latest news – not only for the industry, but also for the markets you specialize in. As you continue to meet and shake hands with individuals, new doors will open, offering you opportunities that you probably didn’t consider when you originally developed your plan.

For example, maybe you’ve met a developer who’s asked you to help list their properties. What you learn from your clients will be equally important to your plan – if things don’t matter, save time and resources by removing them. Additionally, if there are things missing (like virtual open houses, alternative social media focuses, etc), find a way to incorporate them into your plan.

There’s something to be said for pulling from the experience of others, and  having an experienced real estate coach look over and help develop your real estate business plan is a great way to jump past the typical pitfalls new agents face.  A new agent starting out , dreams of the financial freedom to spend more time with their family and friends. Skipping over the learning curve by having an experienced professional will only help you achieve your goals faster.

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Blog Business 5 Real Estate Business Plan Examples & How to Create One?

5 Real Estate Business Plan Examples & How to Create One?

Written by: Danesh Ramuthi Nov 28, 2023

Crafting a business plan is essential for any business and the real estate sector is no exception. In real estate, a comprehensive business plan serves as a roadmap, delineating a clear path towards business growth. 

It guides owners, agents and brokers through various critical aspects such as identifying target markets, devising effective marketing strategies, planning finances and managing client relationships.

For real estate businesses, a well-written plan is crucial in attracting potential investors, showcasing the company’s mission statement, business model and long-term income goals.

So, how can you write one?

Leveraging tools like Venngage Business Plan Make r with their Business Plan Templates to create your own real estate business plan can be transformative.

They offer a lot of real estate business plan examples and templates, streamlining the process of crafting a comprehensive plan.

Click to jump ahead: 

• 5 real estate business plan examples

How to write a real estate business plan?

• Wrapping Up

5 Real estate business plan examples

As I have said before, a well-crafted business plan is a key to success. Whether you’re a seasoned agent or just starting out, examples of effective real estate business plans can offer invaluable insights.

These examples showcase a range of strategies and approaches tailored to various aspects of the real estate market. They serve as guides to structuring a plan that addresses key components like market analysis, marketing strategies, financial planning and client management, ensuring a solid foundation for any real estate venture.

Real estate business plan example

There are various elements in a real estate business plan that must be integrated. Incorporating these elements into a real estate business plan ensures a comprehensive approach to launching and growing a successful real estate business. 

What are they?

• Executive summary: The executive summary is a concise overview of the real estate business plan. It highlights the mission statement, outlines the business goals and provides a snapshot of the overall strategy. 
• Company overview: An overview on the history and structure of the real estate business. It includes the company’s mission and vision statements, information about the founding team and the legal structure of the business. 
• Service: Here, the business plan details the specific services offered by the real estate agency. This could range from residential property sales and leasing to commercial real estate services. The section should clearly articulate how these services meet the needs of the target client and how they stand out from competitors.
• Strategies: A very crucial part of the plan outlines the strategies for achieving business goals. It covers marketing strategies to generate leads, pricing strategies for services, and tactics for effective client relationship management. Strategies for navigating market shifts, identifying key market trends and leveraging online resources for property listings and real estate listing presentations to help with lead generation are also included.
• Financial plan: The financial plan is a comprehensive section detailing the financial projections of the business. It includes income statements, cash flow statements, break-even analysis and financial goals. Besides, a financial plan section also outlines how resources will be allocated to different areas of the business and the approach to managing the financial aspects of the real estate market, such as average sales price and housing market trends.

Read Also: 7 Best Business Plan Software for 2023

Real estate investment business plan example

A real estate investment business plan is a comprehensive blueprint that outlines the goals and strategies of a real estate investment venture. It serves as a roadmap, ensuring that all facets of real estate investment are meticulously considered.

Creating a business plan for real estate investment is a critical step for any investor, regardless of their experience level Typically, these plans span one to five years, offering a detailed strategy for future company objectives and the steps required to achieve them.

Key components:

• Executive summary: Snapshot of the business, outlining its mission statement, target market, and core strategies. It should be compelling enough to attract potential investors and partners.
• Market analysis: A thorough analysis of the real estate market, including current trends, average sales prices and potential market shifts.
• Financial projections: Detailed financial plans, including income statements, cash flow analysis, and break-even analysis.
• Strategy & implementation: Outlines how the business plans to achieve its goals. This includes marketing efforts to generate leads, pricing strategies and client relationship management techniques.
• Legal structure & resource allocation: Details the legal structure of the business and how resources will be allocated across various operations, including property acquisitions, renovations and management.

Real estate agent business plan example

A real estate agent business plan is a strategic document that outlines the operations and goals of a real estate agent or agency. It is a crucial tool for communicating with potential lenders, partners or shareholders about the nature of the business and its potential for profitability.

A well-crafted real estate agent business plan will include

• Where you are today: A clear understanding of your current position in the market, including strengths, weaknesses and market standing.
• Where you aim to be: Sets specific, measurable goals for future growth, whether it’s expanding the client base, entering new markets or increasing sales.
• How can you get there: Outlines the strategies and action plans to achieve these goals, including marketing campaigns, client acquisition strategies and business development initiatives.
• Measuring your performance: Defines the key performance indicators (KPIs) and metrics to assess progress towards the set goals, such as sales figures, client satisfaction rates and market share.
• Course correction: Establishes a process for regular review and adjustment of the plan, ensuring flexibility to adapt to market changes, shifts in client needs and other external factors.

For real estate agents, a comprehensive business plan is not just a roadmap to success; it is a dynamic tool that keeps them accountable and adaptable to market changes.

Realtor business plan example

A realtor business plan is a comprehensive document that outlines the strategic direction and goals of a real estate business. It’s an essential tool for realtors looking to either launch or expand their business in the competitive real estate market. The plan typically includes details about the company’s mission, objectives, target market and strategies for achieving its goals.

Benefits of a realtor business plan and applications:

• For launching or expanding businesses: The plan helps real estate agents to structure their approach to entering new markets or growing in existing ones, providing a clear path to follow.
• Securing loans and investments: A well-drafted business plan is crucial for securing financing for real estate projects, such as purchasing new properties or renovating existing ones.
• Guideline for goal achievement: The plan serves as a guideline to stay on track with sales and profitability goals, allowing realtors to make informed decisions and adjust strategies as needed.
• Valuable for real estate investors: Investors can use the template to evaluate potential real estate businesses and properties for purchase, ensuring they align with their investment goals.
• Improving business performance: By filling out a realtor business plan template , realtors can gain insights into the strengths and weaknesses of their business, using this information to enhance profitability and operational efficiency.

A realtor business plan is more than just a document; it’s a roadmap for success in the real estate industry. 

Writing a real estate business plan is a comprehensive process that involves several key steps. Here’s a detailed guide to help you craft an effective business plan :

• Tell your story : Start with a self-evaluation. Define who you are as a real estate agent, why you are in this business and what you do. Develop your mission statement, vision statement and an executive summary​​.
• Analyze your target real estate market : Focus on local market trends rather than national or state-wide levels. Examine general trends, market opportunities, saturations, and local competition. This step requires thorough research into the real estate market you plan to operate in​​.
• Identify your target client : After understanding your market, identify the niche you aim to serve and the type of clients you want to target. Create a client persona that reflects their specific needs and concerns​​.
• Conduct a SWOT analysis : Analyze your business’s Strengths, Weaknesses, Opportunities and Threats. This should reflect a combination of personal attributes and external market conditions​​​​.
• Establish your SMART goals : Set specific, measurable, attainable, realistic and timely goals. These goals could be financial, expansion-related or based on other business metrics​​​​.
• Create your financial plan : Account for all operating expenses, including marketing and lead generation costs. Calculate the number of transactions needed to meet your financial goals. Remember to separate personal and business finances​​.
• Revisit your business plan to monitor & evaluate : Treat your business plan as a living document. Plan periodic reviews (quarterly, semi-annually or annually) to check if your strategies are advancing you toward your goals​​​​.
• Defining your mission & vision : Include a clear mission and vision statement. Describe your business type, location, founding principles and what sets you apart from competitors​​.
• Creating a marketing plan : Develop a marketing plan that addresses the product, price, place and promotion of your services. Determine your pricing strategy, promotional methods and marketing channels​​.
• Forming a team : Ensure the cooperation of colleagues, supervisors and supervisees involved in your plan. Clarify their roles and how their participation will be evaluated​​.

Related: 15+ Business Plan Examples to Win Your Next Round of Funding

Wrapping up

The journey to a successful real estate venture is intricately linked to the quality and depth of your business plan. From understanding the nuances of the real estate market to setting strategic goals, a well-crafted business plan acts as the backbone of any thriving real estate business. Whether you’re developing a general real estate business plan, focusing on investment, working as an agent, or operating as a realtor, each plan type serves its unique purpose and addresses specific aspects of the real estate world.

The examples and insights provided in this article serve as a guide to help you navigate the complexities of the real estate industry. Remember, a real estate business plan is not a static document but a dynamic blueprint that evolves with your business and the ever-changing market trends.

Crafting a strategic real estate business plan is a crucial step towards achieving your business goals. So, start shaping your vision today with Venngage.

Explore venngage business plan maker & our business plan templates and begin your journey to a successful real estate business now!

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Real Estate Business Plan

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DreamHome Realty

Value proposition.

DreamHome Realty is a full-service real estate agency that provides personalized and professional services to home buyers, sellers, and renters. Our experienced agents are dedicated to understanding the unique needs and goals of each client, guiding them through the entire process with exceptional customer service and support.

The Problem

The local real estate market is competitive, and many clients find it difficult to navigate the complexities of buying, selling, or renting a home. They are looking for an agency that offers personalized support, expert advice, and a deep understanding of the local market.

The Solution

DreamHome Realty addresses these challenges by connecting clients with knowledgeable agents who are committed to providing outstanding customer service and guiding them through each step of their real estate journey. Our agents stay up-to-date on market trends, use advanced marketing strategies, and leverage the latest technology to ensure the best results for our clients.

Target Market

DreamHome Realty’s primary market includes first-time homebuyers, families looking to upgrade or downsize, and individuals relocating to the area. The secondary market consists of property investors and clients seeking rental property management services.

Competitors & Differentiation

Current alternatives.

• Large national real estate franchises
• Local independent real estate agencies
• Online real estate platforms

DreamHome Realty sets itself apart with a client-focused approach, personalized service, and a strong commitment to the local community. Our agents are experienced, passionate about real estate, and dedicated to helping clients achieve their goals.

Funding Needs

DreamHome Realty requires $150,000 in initial funding to cover startup costs, including office space, marketing materials, website development, and operational expenses for the first year.

Sales Channels

• DreamHome Realty website
• Social media platforms
• Local advertising and sponsorships
• Networking events and open houses
• Referrals from satisfied clients

Marketing Activities

• Targeted online advertising
• Social media campaigns
• Local sponsorships and community events
• Networking with local businesses and organizations

Financial Projections

2023: $400,000

2024: $600,000

2025: $900,000

Expenses/Costs:

2023: $350,000

2024: $400,000

2025: $480,000

2023: $50,000

2024: $200,000

2025: $420,000

Secure initial funding – June 1, 2023

Establish office space and infrastructure – July 1, 2023

Hire and onboard real estate agents – August 1, 2023

Launch website and social media presence – September 1, 2023

Close first property transaction – October 31, 2023

Expand team and service offerings – January 1, 2025

Team and Key Roles

Founder & ceo.

Responsible for overall business operations, strategic growth, and maintaining relationships with clients and agents.

Real Estate Agents

Assist clients with buying, selling, and renting properties while providing exceptional customer service and market expertise.

Marketing Manager

Develops and executes marketing strategies to attract new clients and enhance brand visibility.

Administrative Support Staff

Assist with daily office tasks, client management, and agent support.

Partnerships & Resources

Local mortgage lenders.

Collaborate with mortgage lenders to assist clients with financing options and pre-approval processes.

Home Inspectors and Appraisers

Establish relationships with reputable professionals to provide accurate property assessments and inspections for our clients.

Title Companies and Real Estate Attorneys

Partner with legal and title professionals to ensure smooth and compliant transactions.

Local Businesses and Community Organizations

Network and collaborate with local businesses and community organizations to foster a strong local presence and create opportunities for cross-promotion and referrals.

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The 8 Steps in Creating a Real Estate Agent Business Plan + FREE Checklist

• 02 Sep 2020
• Real Estate Marketing ,  Real Estate Social Media

Whether you’re a freshly licensed real estate agent or a seasoned one, you’re an independent contractor who is responsible for overseeing and taking care of the inner workings of your business.  That’s why a real estate agent business plan is crucial if you want to organize and grow your real estate business.

What’s a real estate agent business plan exactly? Think of it as your roadmap to success. It includes your short-term (think 12 months) and long-term (more than 12 months) goals, your niche and what services you can offer within your niche, your target market/ideal client, all the finances, and your marketing plan.

Yes, it seems like a lot to think about. But don’t run away from this opportunistic job just yet — we’ve created an eight-step plan that will help you create your personal real estate agent business plan.

Step 1: Define Your “Why” for your Real Estate Agent Business Plan

Your “why”, or reason for creating this business and pursuing this career will be the foundation for how you run your business. Think of this as your mission and vision. Without this step, you risk losing a vision and purpose, which will in turn confuse and deter clients.

A couple of questions to think about are “why do you want to become successful with your business?” and “what problem do you solve for your clients?”

In times of stress, during interviews, when speaking in casual conversation, and establishing your brand, your “why” is what will keep you motivated to push forward and stand out from the crowd.

Step 2: Define Your Short-Term and Long-Term Real Estate Goals

Short-term is considered 12 months or shorter. Long-term is considered over 12 months. These will, of course, be revised with time. But creating these real estate goals and having them easily accessible will help you focus your efforts on the parts of your real estate business that need the most attention.

Important note: make sure that they’re specific, realistic, and achievable.

Some examples of short term real estate goals might be: create a real estate marketing calendar, create your personal branding, give out your business card to 10 people per day, schedule 10 showings per week, etc. 

Ideas for long term real estate goals may be: close 20 transactions per year, make the top 10% in your brokerage, build a team, increase your closings for the year by 20% year over year, etc. 

Step 3: Find Your Niche

Don’t all real estate agents just want to sell houses? Well, not exactly. If all real estate agents did the same thing, then there wouldn’t be such fierce competition, a large market, or even real estate Instagram influencers. For example, some real estate agents choose to focus on luxury condos, while others have honed in on being a waterfront property expert. What will be your real estate niche?

Here are some questions to think about when choosing your niche:

• What kind of demographic do you want to serve?
• What types of living spaces can you not get enough of?
• Are you a luxury real estate agent, or a more humble suburbs one?
• What kind of services do you offer that no one else does?
• Do you have extra certifications?

These questions will help you get the gears turning in your brain as you establish your unique brand.

Step 4: Market and Competition Research

It’s important to get an assessment of what you’re up against and which areas you want to serve.

First, do some market research to figure out what kind of clientele you are dealing with. Neighborhoods can range drastically in demographics and sales activity, so make sure you do some research to find which neighborhood around you fits with your interest and niche.

After you’ve established an area (or a few areas) you want to conduct your real estate business in, do some competition research on real estate agents in that area. Make a list of what you like about their business, what you don’t like, and how you can “corner” the market — in other words, how your business is different than theirs.  Look for opportunities to enter this market and compete with the other agents.  Analyze their transactions and marketing. Do they offer digital marketing, professional photography, staging services, years of experience, etc.  Focus on what your target demographic would expect in your chosen market, and if you can identify any opportunities to present them uniquely and standout!

Step 5: Develop Methods for Generating Real Estate Leads

So you have your mission in place, your goals, your niche, and you’ve researched and cornered your market. Now it’s time to focus on how you’re actually going to attract clients. This will vary and change as you grow your business, but starting out with the basics lays a good foundation.

Places where you can generate leads are social media, newsletter flows, word-of-mouth, in-person networking, creation of business material , landing pages, courses, hosting open houses for other agents, holding seminars,  free informational material, real estate websites with idx ,  etc.

You’ve identified how ways to generate real estate leads to sell houses, now it’s time for you to prove you can also sell your brand.

Step 6: Real Estate Branding and Marketing

After figuring out the methods in which you can generate real estate leads, now it’s time to come up with a real estate marketing and branding plan.

Branding is how you want your prospective clients to perceive your brand. Here are some questions to think about:

• What brand voice do you want to have?
• Which colors do you want associated with your brand?
• What are some of your brand fonts?
• What do you want clients to feel when they encounter your real estate brand?

Marketing is the strategy in which you will present your brand to the public, and how you will retain clients and audiences. It helps to have a real estate marketing schedule or real estate social media content calendar   laid out in order to do this to prevent overthinking and overworking yourself every single day.

Questions to get you thinking about your brand:

• Where are you going to promote your brand?
• How are you going to price your services?
• What kind of promotions will you have in place?
• What steps will you take to stay consistent in your real estate marketing efforts?

This step will require you to get a little more into the nitty-gritty of your brand. But don’t feel too pressured to make final decisions. While it’s important to be consistent, as you develop and grow, so will your brand, which means changes are usually inevitable.

Step 7: Budgeting

Especially as an independent contractor, keeping track of your finances and budgeting out your expenses is critical to understanding how to keep running your business. Categorize and keep record of dates so you know exactly where your money is going and where your money is coming from.

Some items to consider when developing your real estate agent business plan budget are: 

• What is my commission split?
• How much will I spend on marketing each listing? 
• What is the average sales price in my niche? 
• How many homes have I sold over the last 6 months?
• Do I need to hire a transaction coordinator?
• What are my car expenses?

Make sure to include expense reviews every month so you become familiar with your finance sheets.

This way, as you progress, you can become aware of how to be more efficient with your time and money.

Step 8: Have a Real Estate Agent Business Plan Checklist That Reminds You to Periodically Review Your Business Plan

Every part of your real estate agent business plan plays a key role in making your brand grow and thrive. But with everything that is going on and will be going on in your real estate business, it’s easy to neglect one aspect of the plan.

That’s why we recommend having a checklist to remind you to routinely check up on every aspect of your plan to make sure every cog in the wheel is attended to.

Check out the free Real Estate Agent Business Plan Checklist that we created so you don’t have to worry about this step! You can go ahead and get started on the first step of creating your real estate agent business plan.

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Every real estate practice needs a business plan . The plan defines your values and strengths, your business goals, and clarifies where you excel as an agent and what kind of practice you intend to operate both near-term and long-term. Your business plan creates a roadmap that also determines your marketing plan and budget , and its goals and intentions help you focus, define, and measure your marketing efficacy.

Best practices

Define your mission and vision. A vision statement is a broad view of how you want to leave an impact on customers and the greater community, whereas a mission statement is a clear, concise declaration about your business strategy. Ask yourself these questions:

• What are your values and promises to customers?
• Do you want to work with buyers or sellers? Or both?
• Do you want to define your practice by specializing in particular types of property inventory, such as luxury real estate, sustainable architecture, in-city properties, fixers, new construction developments or condos?

Set goals and objectives. What are your business goals, in quantified terms? What steps do you need to take to complete these goals? Your goals should be specific, measurable, attainable, realistic and timely —in other words, SMART . Once your business goals are SMART, break down each goal into objectives, which are the specific set of tasks and activities you need to do to accomplish the goal. Example goals:

• Rank in the top 10 of listing agents for buyers in Smithtown.
• Get reviews from 70 percent of my clients.
• Make five prospecting calls every day.

Complete a SWOT analysis. SWOT (Strengths, Weaknesses, Opportunities, Threats) is a strategic planning method that can help you understand the viability of your business goals. Completing a SWOT analysis against an objective (doubling listings, closing more transactions in a given time period) can help you understand if you’re positioned to succeed — or if you need to adjust your approach.

• Strengths : Do you have special skills, credentials, referrals, or connections to a particular population that, together, position you as a leader or obvious choice for target clients?
• Weaknesses : What do competitors do better? Do you need to gain new credentials or skills, communicate across new media, or hire an assistant to free up your schedule?
• Opportunities : Where’s the market headed, and how can you participate? What can you do today versus over time to take advantage of the environment?
• Threats : What could happen that is beyond your control, and how can you prepare? For example, local or national economic shocks like layoffs at a major employer, natural disasters, or challenges with shifting property inventory.

Create a targeted marketing plan. A good marketing plan can set you up for success, identifying the right tools and messages to effectively reach your audience, better service your clients and differentiate yourself from the competition. Who is your target customer and what is their real estate story? What is your plan to attract them and convert them to clients? How will you know how effective your marketing methods are or if you need to make a course correction? Key marketing plan components include:

• Ideal customer. Will you serve buyers, sellers, first-timer buyers, investors, clients looking to downsize?
• Differentiators and branding promise. What makes your work unique? If you had a tagline, what would it be?
• Product/service mix and pricing. What are your offerings and commission structure?
• Marketing materials. How will you communicate your services and at what frequency? Aside from business cards and a sign on your vehicle, will you blog daily, send direct mail quarterly, or host an annual party?
• Online marketing. How will you advertise and present yourself online?
• Lead generation, management, and conversion approach. How will you engage prospective clients who visit open houses, your website or online listings, or who connect with you in other ways? Will you use drip email to remain top of mind? Will you require web registration to view your online listings?
• Marketing budget. How much will you spend monthly and yearly? How will you track your expenses versus actual results?

Measure your business performance. A fundamental component of every real estate business plan and marketing budget is calculating the ROI (return on investment) of your marketing and advertising expenditures. ROI is the ratio of your profit to your costs. The more expensive your marketing efforts, the more income you need to generate to justify the expense — or the more time you’ll need to give to your marketing efforts to produce your desired effect.

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Real Estate Business Plan Template

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Updated March 11, 2022

A  real estate business plan  is a blueprint for the operations and objectives of a real estate agency. The plan can be used to inform prospective investors and business partners, as well as guide internal processes and day-to-day business conduct. The real estate industry is often highly competitive; therefore, firms can benefit from developing a well-researched plan that details market trends, business strategy, and financial projections, in addition to the basic elements of company information and management structure.

Real Estate Agent Business Plan Template

Written by Dave Lavinsky

Real Estate Agent Business Plan

Over the past 20+ years, we have helped over 10,000 entrepreneurs and business owners create business plans to start and grow their real estate agencies. On this page, we will first give you some relevant information with regard to the importance of real estate business planning. We will then go through a real estate agent business plan template step-by-step so you can create your plan today.

Download our Ultimate Real Estate Agent Business Plan Template here >

What is a Real Estate Agent Business Plan?

A business plan is a living document that provides a snapshot of your real estate agency as it stands today and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a Real Estate Agent69

A business plan can help you stay up-to-date on market trends, stay ahead of your competitors, and helps you set measurable goals But most importantly, it will force you to think through every step of starting and growing your real estate agency so that you can avoid potential roadblocks along the way. This also helps you monitor the effectiveness of the campaign over a given period.

If you’re looking to become a realtor or grow your existing real estate agency business you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your real estate agency in order to improve your chances of success. Update your business plan regularly as your agency grows and changes.

Sources of Funding for Real Estate Agencies

With regard to funding, the main sources of funding for a real estate business are personal savings, credit cards, and bank loans. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

Finish Your Business Plan Today!

How to write a business plan for a real estate agency.

Below is an example of a real estate plan template:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal is to quickly engage the reader. Explain to them the type of real estate agency you are operating and the status; for example, are you a startup, do you have a real estate agency that you would like to grow, or are you operating a chain of real estate agencies?

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the real estate agent industry. Discuss the type of real estate agency you are operating. Detail your direct competitors. Give an overview of your target market. Provide a snapshot of your marketing strategy. Identify the key members of your team. And offer an overview of your financial plan.  

Company Analysis

In your company analysis, you will detail the type of real estate agency you are operating.

For example, you might operate one of the following types:

• Residential Sales and Rentals : this type of real estate agent specializes in serving the private residential market.
• Commercial Sales and Rentals : this type of real estate agent specializes in commercial, industrial, medical, etc. properties

In addition to explaining the type of real estate agent you operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new contracts, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the real estate business.

While this may seem unnecessary, it serves multiple purposes.

First, researching the real estate industry educates you. It helps you understand the niche market or focus area in which you are operating.

Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards aerial videos of the listed property, it would be helpful to ensure your plan calls for a drone or drone operator.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section:

• How big is the real estate business (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• How much growth is expected for the industry over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your agency? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your realtor business plan must detail the prospective clients you serve and/or expect to serve.

The following are examples of customer segments: residential, office space, retail space, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of real estate agency you operate. Clearly, homeowners would want different services and would respond to different marketing promotions than manufacturers.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations, and income levels of the customers you seek to serve. Because most real estate agents primarily serve customers living in the same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other real estate agents.

Indirect competitors are other options customers have that aren’t direct competitors. This includes For-Sale-By-Owner and similar DIYers. You need to mention such competition to show you understand that not everyone who sells or purchases property uses the services of a realtor.

With regards to direct competition, you want to detail the other real estate agents with which you compete. Most likely, your direct competitors will be agents who cover the same target market.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses or analyze using a SWOT Analysis. Unless you once worked on other real estate teams, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of customers do they serve?
• What services do they offer?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regard to the last two questions, think about your answers from the customers’ perspective.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide superior services?
• Will you provide services that your competitors don’t offer?
• Will you make it easier or faster for customers to engage your services?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a real estate agency, your marketing plan should include the following:

In the product section, you should reiterate the type of real estate agency that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to listing properties, will you offer home staging on those property listings?

Document the prices you will offer and how they compare to your competitors. Essentially in the product and price subsections, you are presenting the services you offer and their prices.

Place refers to the location of your agency. Document your location and mention how the location will impact your success. For example, is your real estate agent located next to a heavily populated office building, gym, etc? Discuss how your location might provide a steady stream of prospective clients.

The final part is the promotions section. Here you will document how you will drive customers to your location(s). The following are some marketing efforts you might consider:

• Cold calling
• Direct mail and flyers
• Making your real estate agent’s storefront extra appealing to attract passing customers
• Social media marketing
• Advertising in local papers, magazines, and websites
• Reaching out to local bloggers and websites
• Local radio advertising
• Banner ads at local venues

Developing a marketing strategy and implementing it helps you identify and locate your current value proposition in the real estate market with specific time frames to execute. This strategy will be included in your business strategy and plan as well as establishing your overall objectives. It can also involve referral marketing strategies, retention strategies, and ways of gaining new clients.

Operations Plan

While the earlier sections of your realtor business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two key elements as follows.

Everyday short-term processes include all of the tasks involved in running your real estate agency such as prospecting for new customers, advertising listings, going on showings, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to sell your 100th house, or when you hope to reach $X in average sales price. It could also be when you expect to hire your Xth employee or launch a new location.

Management Team

To demonstrate your agency’s ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in the real estate business. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in real estate agencies and/or successfully running small businesses.

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your real estate agency, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a real estate agent:

• Location build-out including design fees, construction, etc.
• Cost of equipment like signs, software, etc.
• Cost of advertising materials and maintaining an adequate amount of office supplies
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your location lease.

Putting together a business plan for your real estate agency is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the real estate business, your local competition, and your potential clients. You will have developed a marketing strategy and will really understand what it takes to launch and grow a successful real estate agency.  

Real Estate Agent Business Plan Example PDF

Download our Real Estate Business Plan PDF here. This is a free used car dealership business plan example to help you get started on your own real estate plan.  

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12 proven real estate scripts that boost confidence & earn more business

These proven real estate scripts will help boost your confidence, find and convert more leads, and earn more business.

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As a broker and real estate coach, I’m always surprised when new agents tell me they don’t want to use real estate scripts. A script is just a predetermined question or response that helps guide a conversation closer to your desired outcome. Knowing what you’ll say in advance on a call, at an open house, or just chatting with your sphere makes you more confident — and confidence is the key that opens the door to opportunity in real estate.

Below, you’ll find proven real estate scripts for 12 common situations to help you earn more business in 2024.

1. Expired listing cold calling script

Cold calling expired listings is a proven (if sometimes terrifying) way to find new business. These sellers were on the market with another agent before and could not sell. Usually, they’re inundated with agents calling them for the first few days after their listing expires. This is why it’s important to acknowledge how they may be feeling — doing so will help set you apart from other agents giving them the hard sell.

Back in my own cold-calling days, I tried every expired listing script in the book. This simple real estate script generates the best results because it acknowledges the sellers’ feelings and piques their interest:

Hi. This is [name] with [brokerage]. I see your home just came off the market, and I’m sure you’re getting tons of calls from other agents, right? {wait for answer}

We have a completely different approach that includes [your value proposition]. {Example: We expertly stage our listings to make them the most gorgeous homes on the market and get our sellers even more money}.

Would you mind if I stopped by for a few minutes today or tomorrow to show you some examples?

Confidence booster: Go into these calls with the mindset that it’s a numbers game. Expect to be told “no” repeatedly, and know that if you keep at it, you will eventually get to a “yes!” This script is easier for more experienced agents with a track record of selling other expired listings, but don’t worry if you’re new. You could always partner up with a more experienced agent in your office and go on the appointment together.

2. FSBO cold calling script

For-sale-by-owners (FSBOs) are known for being mean and rude to agents, yet I’d encourage you to shift your mindset around FSBOs. They’re just people who think they’ll save money by not hiring an agent. They require a softer sell, education, empathy and nurturing. Lead with value!

One of my favorite seller clients was a FSBO who I became friends with. Once I explained how she would actually net more money working with me, she hired me — and not at a discounted rate, either! We successfully sold her house, and she was very happy with the results, even saying she was so glad she did not try to do it alone.

Here’s a non-threatening script to start building the relationship with a FSBO seller:

Hi. This is [name] with [brokerage]. I saw your listing posted on [website name] and wanted to ask how the activity has been. I sell a lot of properties in this area, so I’m always curious how the traffic is! Any offers yet? {wait for answer}

If yes: Great! Congrats! If you have any questions about the paperwork or need help during the contract to close period, please save my number and reach out. Always happy to help answer questions – I do this for a lot of for sale by owners!

If no: It’s definitely not easy to do, and it looks like you have a great property! Would you mind if I come over to take a look? It can be helpful to have a second set of eyes. I’ll also bring a list of safety tips for for sale by owner sellers. Would tomorrow or the next day be better for your schedule?

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3. Seller objection script: “The other agent said they can get us more money for our house”

This objection typically arises during the listing appointment in a competitive situation. Since so many agents are calling them, sellers are more likely to meet with multiple agents, so you’ll want to be prepared to handle this objection.

Seller: The other agent said they can get us more money for our house

Agent: I totally understand, and you and I have the same goal: to get you the most amount of money possible. Let’s look closely at all the comparables — similar homes that have sold, have accepted offers, and are actively on the market — those are our competition. Then we’ll decide together which list price makes the most sense to best position your home on the market. We want to attract the most qualified buyers and create a sense of urgency to encourage them to make strong offers quickly.

That said, no one can predict with absolute certainty or guarantee a specific sale price. Pricing a home is both an art and a science. We look at the data, come up with a game plan, and work hard to negotiate the best offer for our sellers.

4. Seller objection script: ”Will you reduce your commission?”

There are many ways to handle this, from plainly saying “no” and moving on in the conversation to going into defense mode and arguing for your fee. My personal favorite response to this question is to provide multiple packages that sellers can choose from, like a menu of services. This strategy puts the seller in control and clarifies exactly what you will and will not provide.

If you go with a tiered commission structure like I do, here’s what you can say to explain it:

One of the great things about working with me is I offer a flexible commission structure. Every seller and property is different and has different needs, so here are the various packages I offer and what’s included. Looking at the options, which one makes the most sense for you?

Confidence booster: No matter how you answer, emphasize that real estate commissions are always negotiable. Set your own rate and stick to it.

5. Buyer objection script: “We’re just going to work directly with the listing agent. We don’t need a buyer’s agent”

Time to get crystal clear on your value proposition for buyers if you’re not already! We’re going to be seeing more and more buyers saying this over the next year or so. Of course, there will always be buyers who truly do not see the value in agents and will never hire one, and that’s okay, too. Our job is to provide information about our services and value, ask if they want to work with us, and maintain the relationship no matter the response.

Most buyers, though, do not have a clear sense of everything we do for our buyers. That’s where this script comes in:

I hear you! Would you mind if I shared a few reasons why most buyers choose to hire their own agent? I’ll make it quick – I promise!

{wait for the ok to continue}

Finding the house isn’t the hard part. It’s everything that happens after you find the right house that can be tricky — getting your offer accepted, negotiating the inspection items, coordinating everyone involved in the deal, and making sure you’re protected throughout the entire process. That’s why having your own agent to fight for you and advise you is so important.

Working with a buyer’s agent could actually save you money in the long run, as well. Would you mind sitting down with me for 20 minutes and letting me show you how?

6. Door knocking around a just-sold listing

If you’re thinking about skipping this one, remember that you can door-knock around ANY just-sold listing. It doesn’t have to be yours! As long as you’re not pretending to be the listing agent, you have free reign to door-knock around anyone’s just-sold listing. If the listing agent is someone in your office, you may want to give them a heads-up as a courtesy, but it’s not required.

The strategy is simple: pick a listing that has just closed with multiple offers. If you can share exactly how many offers were received, this script will be even more powerful. Bring a printout of the MLS sheet, or even create a custom flyer! Then, go door-knock the houses around the listing and talk to the neighbors.

Here’s what you will want to say when they open the door:

If it’s your listing:

Hi. I’m [name] with [brokerage]. I just sold your neighbor’s house over on [street name]. I know neighbors are always curious about what the market is doing, so I wanted to let you know this one closed at [sale price], which was well above the list price of [list price]. We also had [number] of offers! So there are [number minus one] qualified buyers who want to buy in this neighborhood! Any chance you know if anyone else in the neighborhood is thinking of moving?

If it’s NOT your listing:

Hi! I’m [name] with [brokerage], and your neighbor’s house just sold over on [street name]. I know neighbors are always curious about what the market is doing, so I wanted to let you know this one closed at [sale price], which was well above the list price of [list price]. They also had [number] of offers! So there are [number minus one] qualified buyers who want to buy in this neighborhood! Any chance you know if anyone else in the neighborhood is thinking of moving?

Confidence booster: Most people will be friendly when you’re on their doorstep. Many won’t be home or will choose not to answer, but if you come prepared with a flyer to leave behind, it will still be a good use of your time. Just don’t put anything in the mailbox!

7. When a friend or family member hires another agent

We’ve all been there. You’re at the summer BBQ or pool party chatting with friends you haven’t seen in a while when someone mentions they just bought a new house. Great! Except they didn’t use you — gut punch. Immediately following their exciting announcement, there is a massive opportunity for you to demonstrate your professionalism. I see agents both succeed and fail at this.

Agents almost always fail when they become accusatory or defensive, even when they try to play it off as a joke: “Why didn’t you work with me?” Success comes from being gracious and humble and then asking for a referral.

That last part is key — most people will feel guilty about not working with you, which makes it one of the best times to ask for a referral. Here’s the script I use to ask for referrals in these situations:

Friend or family member: We just closed on a house around the corner and our agent said the market is picking up.

Agent: Oh my gosh, congratulations!! That’s so exciting!

{ask some questions about the house – Where did they buy? Did they buy a single family home or a condo? What’s their favorite thing about the house? Keep it positive and high-energy!}

I completely understand wanting to keep business and personal separate. No hard feelings at all! Could I ask a favor? Let me know if you hear about anyone else looking to buy or sell. I’d appreciate it so much – thank you!

Confidence booster: Remember: the relationship is far more valuable than the commission. People will likely expect you to get upset, so responding graciously and professionally will actually strengthen your relationship and hopefully lead to more referrals.

8. Asking your sphere for referrals

I know this is another one agents tend to avoid or feel icky about. This script is an easy, non-salesy way to train your existing network of friends, family, coworkers, and everyone in your sphere of influence to send you leads when they come across them. Your sphere will always be your best source of business if you teach them how to refer you AND keep in touch with them.

There are three key objectives in this script. Include all three for the best results:

• Ask for help. People love feeling helpful, and those who already know and like you will be eager to learn how they can help you. Starting with this first will hook them; they’ll be excited to learn how they can help you!
• Give them specific examples . Spell out a few specific life-change events where real estate might need to be bought or sold. The more specific, the better. Specific scenarios activate the brain more powerfully than simply asking, “Do you know anyone looking to buy or sell?”
• Include a direct ask . Here’s the most important part. Do not skip this part! It may feel a little uncomfortable initially, but asking directly if they will refer you achieves buy-in from whoever you’re talking to. They’ve agreed to refer you and will seek people to send you, consciously or sub-consciously.

Here’s a simple script that hits all three objectives:

Could I ask for your help with something? I’ve been working with a lot of [fill in the blank: first-time buyers, downsizers, investors] recently and am looking for more opportunities like that. Next time you hear about someone at work or in your neighborhood who’s going through a life change such as changing jobs, having a baby, or getting a divorce, could you let me know?

Confidence booster: I recommend having this conversation in person or over the phone when possible, but it will also work via text. This versatile script can be used in almost any conversation, especially if you’re already talking about real estate.

When talking with someone who’s also a business owner, start by asking them how you can help them grow their business. Then, they will ask you the same question at some point, and you can lead right into this script!

9. Finding buyer leads at open houses

Every agent has their own style when it comes to hosting open houses. Some are more relaxed; some are more aggressive. I always advise agents to do what works best for them! I’ve found that open house attendees are more responsive to a laid-back approach.

Buyers come into the house very guarded, waiting for a pushy agent to attack them. So, job #1 is allowing them to let their guard down. Then, you can try to have a pleasant conversation that might open the door to working together in the future.

Here are a few non-threatening questions to ask buyers at an open house to start the conversation on the right foot and determine which buyers may want to work with you in the future:

Do you have a buyer’s agent already?

If they have an agent: Great! Could I grab their contact info so I can follow up with them and not bother you?

Any feedback about the house that I can pass along to the sellers? Good or bad!

Be careful not to cross any ethical boundaries here. Asking for feedback about the property is fair game for all open house attendees, but I would reserve the next set of questions for buyers who don’t have an agent yet.

If they are unrepresented: Have you been looking for awhile or are you just starting your search?

What’s your ideal timeline for moving?

Which areas are you most interested in?

What’s your one absolute MUST have in your next home?

Why don’t I send you some similar properties that might be a better fit for you, if this house isn’t the one?

Confidence booster: With open house buyer leads, the magic is in the follow-up. An agent in my office followed up with an open house lead for two years, with no response, until they were finally ready to buy. That one buyer lead resulted in three transactions totaling over $1 million in volume! Don’t get discouraged, and be sure to implement a follow-up system to stay in touch.

10. Closing script for the listing agreement

I’ve had the most success with a direct yet soft close, with several trial closes (example: “if we decide to work together…” ) sprinkled throughout the appointment. At the end of the listing appointment, the seller either trusts you to get the job done, or they don’t. It’s as simple as that. The challenge is that most sellers won’t come out and say no directly. They’ll say something like they “need to think about it” or lean on any other objection as an excuse to avoid awkwardness or to simply end the meeting politely.

I tell you this to help take the pressure off. Your closing question won’t make or break anything in the appointment, but it is important to go in confidently with a strong closing script to seal the deal — assuming you did a great job proving you can sell their house in your listing presentation. Here’s my favorite simple yet direct script for closing sellers after your listing presentation:

Agent: It sounds like we’re on the same page about the pricing strategy and timeline. I think you’ve got a great property and we will work well together, don’t you think?

{if they agree}

Perfect! Then all we need to do is make it official. Which package would you like to go with?

{wait for answer}

Awesome! I’ll get the paperwork filled out and email it over to you later today, sound good?

If the seller doesn’t agree to your first question, you have a few options. Here are some of my favorites:

• No? Tell me more.
• Is your hesitation about the price, the marketing strategy, or your trust in me to get the job done?
• Is there anything we haven’t covered that you were hoping we would cover?

Confidence booster: Depending on what they say, you’ll be able to handle their objection appropriately and determine whether it’s a good mutual fit or not. I always advise my coaching clients to go into every appointment with the mentality of the “right fit.” Not every seller is the right fit for every agent, and that’s ok. Don’t force it! If it’s a match, great! Isolate the objection, handle it, then go back to the original script and close for the signatures.

11. Asking for a price reduction on stale listings

We don’t have many stale listings in the Boston area, but they happen occasionally, especially when the seller’s price is too high. Talking price can be tricky, as emotions are usually high, so it’s important not to let the sellers feel offended by suggesting a lower price. This is tough enough at the initial appointment. It’s another thing when we’re talking price reductions after being on the market for a few months!

We discussed this at length during our most recent Quiet Success Club mastermind call. I’ll share with you what I shared on that call: make the price all about the data and the market rather than your opinion. Root the pricing conversation in hard facts by showing sellers actual comps and including all the photos from the MLS so they can see the condition of other homes and see for themselves how their property compares to their competition.

I’d always recommend talking about pricing on the phone, as well. This isn’t the time for text or email, although you can follow up with an email afterward to keep a record of the conversation.

Thanks for taking the time to jump on the phone with me. We’ve been on the market now for [number of] days and had [number of] showings. No offers yet.

{provide any specific feedback from the showings and any updates on the market, such as new listings that have come on the market}

The market is telling us the asking price is a bit too high. In order to be in the best possible position on the market, I’d recommend we shift our pricing strategy and expose your property to a new set of buyers in a different price range. What do you think?

Confidence booster: Another piece of advice is to plant seeds for the pricing conversation at your initial listing appointment. Tell sellers there’s a chance the price may be too high, and if that’s the case, set the expectation that you’ll be recommending a price adjustment in a few weeks. Managing expectations at the beginning of your professional relationship makes this conversation much easier!

12. Taking a vacation!

Unpopular opinion: if you bring your laptop on vacation, it doesn’t count as a vacation. Enjoying truly unplugged time away from your business will make you a stronger agent, a better negotiator, and a more patient human. Good for you + good for your clients!

This real estate script can be used in your email auto-responder message, your outgoing voicemail message (yes, go ahead and change it. You can always change it back when you get home), and in the message you send to all your clients before you leave:

I’m heading to [destination]! I’m excited to rest and recharge so I can show up even better for my clients. I’ll be back in the office on [date] and I’ll respond to my messages then!

In the meantime, for any real estate emergencies, please contact my trusted colleague, [name], at [contact info]. They will be happy to assist

Real estate scripts: The full picture

Feel free to tweak these scripts to make them your own, but be sure to practice them! Practice in the car by yourself, with your peers in the office, or join my group — we do a monthly role-play session in addition to our mastermind, where we practice exactly what to say!

By practicing and role-playing real estate scripts, you’ll soon start to internalize them and use them more naturally. This will give you the confidence to conquer any real estate conversation and win more business!

About Ashley Harwood

Ashley Harwood began her real estate career in 2013 and built a six-figure business as a solo agent before launching Move Over Extroverts in 2018. She developed training materials, classes, and coaching programs for her fellow introverts. Beginning in 2020, Ashley served as Director of Agent Growth for three Keller Williams offices in the Boston metro area. She’s now the Lead Listing agent for the Fleet Homes team in Massachusetts and a regular contributor to Vetted by HousingWire. She created The Quiet Success curriculum and has taught thousands of real estate agents nationwide. She has also been a guest speaker at top industry events and has been named a leading real estate coach by prominent industry publications.

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How to Start a Real Estate Business: Your Path to Success

Step 1: Understanding the real estate industry

Step 2: types of real estate businesses, step 1: writing the executive summary, step 2: market research and analysis, step 1: choose the business’s structure, step 2: licensing, permits, and compliance, step 1: understanding real estate financing, step 2: managing cash flow and expenses, step 1: office location and essentials, step 2: technology and software needs, step 1: developing your brand identity, step 2: launching your online website, designing a marketing plan, effective online and offline marketing, essential sales techniques, managing customer relationships, professional networking strategies, generating referrals and repeat business, investment strategies for real estate prosperity, navigating the buy and hold approach.

Starting a real estate business can be a lucrative and fulfilling endeavor. This article provides a comprehensive guide on how to start a real estate business, covering essential steps from market research and business planning to licensing and marketing strategies. By understanding these key elements, you can navigate the complexities of the real estate industry and build a successful business.

How to start real estate for beginners?

Which real estate business is most profitable?

How profitable is the real estate business?

Is real estate a good business to get into?

Stage 1: Getting started in real estate

To embark on your real estate journey, you need to understand the industry and decide which type of real estate business suits you best. Each path has unique requirements and challenges.

The real estate industry is vast and includes various roles like agents, brokers, and property managers. Real estate agents are licensed professionals who help clients buy, sell, and rent properties. They work under real estate brokerages that provide the necessary administrative support and legal backing.

Key players in the industry are buyers, sellers, investors, and developers. Your role as a business owner will require staying informed about market trends, regulations, and economic factors that influence property values and demand.

Joining a reputable real estate company or brokerage can provide valuable training and resources. This is crucial, especially if you are new to the field.

There are several types of real estate businesses you can start.

• Residential real estate involves buying, selling, and renting homes. This is often where new agents begin their careers.
• Commercial real estate deals with properties like offices, retail spaces, and industrial buildings. This sector typically requires more experience and a stronger understanding of market dynamics.
• Property management involves managing rental properties for owners, which includes tasks like tenant screening, maintenance, and rent collection.

You might also consider real estate investment , where you buy properties to renovate and sell at a profit, or to hold and rent out.

Each type has its own set of challenges and rewards, so choose based on your skills, interests, and market opportunities.

Stage 2: Coming up with your business plan

Creating a strong real estate business plan is essential for your success. It involves defining your mission and values and conducting thorough market research to identify your target market and business strategy.

The executive summary is the opening of your business plan. It should provide a snapshot of your real estate business, including your mission, vision, and values. This section should be concise, highlighting the core elements of your business, such as its purpose and primary objectives.

Include information about your target market and the types of properties you specialize in. Mention any unique selling points that differentiate your business from competitors. The goal here is to give readers a clear understanding of your business’s identity and objectives.

Lastly, outline your business goals and any significant milestones you aim to achieve. This summary should be engaging and encourage further reading of your business plan.

Conducting thorough market research and analysis is crucial for understanding your local real estate market. Start by analyzing demographic data to identify your target market . Look at factors such as age, income levels, and population growth.

Examine the current market trends and demand for various property types. This will help you understand the needs and preferences of potential clients. Also, research your competitors to understand their strengths and weaknesses.

Use this information to create a market analysis section in your business plan. Highlight key findings, such as market size, growth potential, and any gaps that your business can fill. This analysis will guide your strategies and help you make informed decisions to stay competitive.

Stage 3: Making your business legal

Creating a solid legal foundation is crucial when starting a real estate business. This involves choosing the right business structure and ensuring all necessary licenses, permits, and compliances are in place.

The business structure you select will impact your taxes, liability, and how you run your business. Here are some common options:

• LLC (Limited Liability Company): Protects your personal assets from business liabilities and offers tax flexibility.
• Partnership: Involves two or more people running the business together. Profits and responsibilities are shared.
• Corporation: A more complex structure offering the highest level of personal liability protection but with double taxation risk.

Each structure has its pros and cons, so you must consider your business needs and consult with a legal expert to make the best choice.

Obtaining the right licenses and permits is essential in the real estate industry. Here are key steps:

• Get a real estate license : This is mandatory if you plan on selling or buying properties for clients.
• Obtain an Employer Identification Number (EIN) from the IRS for tax purposes.
• Apply for any local or state permits that may be required based on where you operate.
• Ensure compliance with zoning laws, building codes, and other regulations.

Staying compliant with all legal requirements helps you avoid fines, legal complications, and interruptions to your business operations.

Stage 4: Financing your real estate business

Starting a real estate business requires thorough planning, especially when it comes to securing financing and managing expenses. Getting the right funding is crucial for long-term success and profitability.

Understanding your financing options can make or break your venture. There are various methods available to secure funds for your business. You might use personal savings, obtain a bank loan, or attract investors.

• Personal savings are often the first step, providing a foundation without accruing debt.
• Bank loans can offer significant funds but require a solid credit score and detailed business plan.
• Investors can provide substantial capital but may require a share of the profits or decision-making power.

Consider consulting a financial advisor to determine which combination of these options suits your needs. Don’t forget to include start-up costs in your financial plan, like office space, marketing, and legal fees.

Managing cash flow and expenses is vital to keep your business on track. Cash flow refers to the money moving in and out of your business, while expenses are the costs needed to run it.

• Track all income and expenses: Use accounting software to stay organized.
• Create a budget: Allocate funds for each area of your business.
• Monitor cash flow regularly: Regularly review your financial statements to avoid cash shortages.
• Reduce unnecessary costs: Cut back on non-essential spending to increase profitability.

Ensuring you have more income than expenses is critical. Those early investments should soon translate into a steady stream of income, helping to maintain a profitable business model. By staying on top of your finances, you set the stage for sustainable growth and success.

Stage 5: Setting up your real estate office

Finding the perfect location and equipping your office with the right tools and technology will set the stage for your success. It’s important to focus on both the physical space and the software you will need to run your business efficiently.

Choosing the right location for your office is crucial. You want a place that is easily accessible to clients and ideally located in a busy or growing area. Look for an office space that offers enough room for meeting with clients and a comfortable working environment.

Key essentials include:

• Desks and chairs
• Computers and monitors
• A reliable internet connection
• Printing and scanning equipment
• Business cards and office stationery

Make sure your office layout promotes productivity with minimal distractions. A professional and welcoming environment can leave a lasting impression on clients.

To run your real estate business smoothly, you’ll need various types of technology and software. A Customer Relationship Management (CRM) system is vital for tracking leads and follow-ups. Accounting software like QuickBooks or FreshBooks helps you manage finances effectively.

Additionally, consider these tools:

• Professional email service
• Cloud storage solutions like Google Drive or Dropbox
• Real estate listing software
• Virtual tour software
• Website development tools

Investing in the right technology can simplify your operations, saving you time and money. Make sure your systems are secure to protect client data, and keep everything up-to-date to avoid technical issues.

Stage 6: Building your brand and online presence

Creating a strong real estate business brand and establishing an online presence are vital steps to your business’s success. This involves shaping your brand identity and launching a professional website to attract potential clients. For some real estate business website examples you can take a look at this list of real estate websites to spike your inspiration.

Your brand identity consists of elements like your logo , color scheme , and slogan . These elements should reflect your real estate company’s values and goals. Here are some things you need to take into consideration:

• Evaluate the competition. Look at successful agents and real estate companies in your area. Identify what sets them apart and find your unique selling points.
• Design a memorable logo. It can be simple but should convey trust and professionalism. Working with a professional designer can ensure high-quality results.
• Choose a consistent color scheme. Colors can evoke feelings and should match the branding message you want to communicate. For example, blue often symbolizes trust and reliability.
• Create a slogan that sums up what you offer. A good slogan is short, memorable, and clearly tells clients why they should choose you over competitors.
• Use social media to extend your brand. Platforms like Facebook , Instagram , and LinkedIn are great for showing your personality and engaging with potential clients.

Your real estate business’s website is a critical part of your online presence. It acts as a digital storefront where clients can find listings, contact you, and learn more about your services.

10Web can help you create your real estate business’s website quickly and easily by just answering a couple of questions. Follow these steps to generate a website using 10Web’s AI Website Builder:

After the website is generated, make sure that essential pages like Home , About Us , Listings , and Contact are added. Next, work on making each page informative and easy to navigate.

Use high-quality photos and descriptions for your listings. Potential clients are more likely to engage with visually appealing content.

Optimize your site for search engines to improve visibility. 10Web provides tools for SEO, ensuring that your website reaches a wider audience.

Link your social media accounts to your site. This allows visitors to follow your updates and engage with your content across different platforms.

Lastly, include testimonials and reviews to build credibility. Positive feedback can significantly increase your chances of attracting new clients.

Setting up your website with 10Web not only saves time but also ensures a professional, well-optimized site that supports your brand’s growth.

Stage 7: Crafting marketing strategies

Creating a marketing strategy for your real estate business involves understanding your target audience and leveraging both online and offline channels to generate leads and solidify your branding.

Starting with a solid marketing plan will guide your marketing efforts and help you reach your business goals. First, audit your past marketing strategies and results to see what worked and what didn’t.

Next, know your buyers. Conduct demographic and geographic analysis to define your ideal client’s age, income level, occupation, and lifestyle. This helps in tailoring your marketing messages.

Set clear objectives such as lead generation or brand awareness. Outline specific steps like optimizing your website for search engines, creating high-quality content, and using social media platforms effectively.

For online marketing, create and optimize your real estate website with essential features like property listings, customer testimonials, and a contact form. Utilize SEO to increase your website’s visibility on search engines. Social media platforms like Facebook, Instagram, and LinkedIn can be useful for engaging with potential clients.

Email and text marketing are also vital for staying in touch with your audience. Sending regular updates, newsletters, and promotional offers can keep your business top-of-mind for potential buyers.

Offline marketing still holds value. Traditional methods such as hosting open houses, participating in community events, and creating partnerships with local businesses can be effective. Use print materials like flyers, posters, and business cards to enhance your branding and reach a broader audience.

By combining these online and offline strategies, you can achieve a comprehensive approach to marketing your real estate business.

Stage 8: Sales and client relations

For a successful real estate business, effective sales techniques and strong customer relationships are key. This section details essential sales techniques and managing customer relationships.

Mastering sales techniques is essential for any realtor. Begin with understanding your market and clients’ needs. Stay informed about property trends and local market conditions.

• Highlight features : Showcase the best features of properties. Use descriptive language and visuals to capture clients’ interest.
• Build rapport: Establish trust with clients by listening to their preferences and addressing their concerns. A friendly approach can go a long way.
• Effective follow-ups : Always follow up with potential buyers. Use CRM tools to manage leads and schedule reminders.
• Negotiate wisely : Be prepared to negotiate. Understand your bottom line and be ready to make informed decisions.

Maintaining good relationships with customers is vital for repeat business.

• Use CRM tools : Implement CRM software to keep track of client interactions. This helps you stay organized and remember important details.
• Personalize communication : Send personalized messages and updates to clients. This shows you value their business.
• Respond promptly: Respond to inquiries quickly. Timely communication builds trust and shows professionalism.
• Solicit feedback: Ask clients for feedback after transactions. Use this information to improve your services.
• Stay connected: Even after a sale, keep in touch with clients. Regularly update them on market trends or potential opportunities.

By focusing on these strategies, you can enhance your sales skills and build lasting relationships with your clients.

Networking and building relationships

Networking and building relationships are crucial in starting a real estate business. These efforts help expand your influence and generate leads, ensuring long-term success.

• Attend industry events : Go to conferences, trade shows, and local real estate meetings. These gatherings are perfect for meeting other professionals. Always carry business cards and be ready to start conversations.
• Join local organizations : Become a member of the National Association of Realtors or local real estate investment groups. These organizations offer valuable resources, training, and networking opportunities.
• Host your own events : Organize networking lunches, workshops, or open houses. Inviting other professionals can help build relationships and establish your reputation in the community.
• Offer exceptional service : Always prioritize your clients’ needs and go the extra mile. Satisfied clients are more likely to refer you to others and work with you again in the future.
• Stay in touch : Send newsletters, holiday cards, or personalized emails to past clients. Keeping the connection strong increases the chances of repeat business.
• Ask for referrals : Don’t be shy about asking satisfied clients for referrals. Make it easy by providing referral cards or an email template they can use.
• Create a referral program : Offer incentives like discounts or gift cards to clients who refer new business to you. This encourages them to promote your services actively.
• Network with other professionals : Build partnerships with mortgage brokers, home inspectors, and other real estate agents. They can refer clients to you and vice versa, creating a steady stream of potential business.

By focusing on these networking strategies, you can build strong professional relationships that lead to referrals and repeat business.

Exploring real estate investment opportunities

Embarking on real estate investment offers various paths to wealth building. You can explore strategies like buying and holding properties for long-term gains.

When learning how to start a real estate business, one effective approach is to diversify your investment strategies. Here are a few methods to consider:

• Flipping houses : Purchase undervalued properties, renovate them, and sell for a profit.
• Rental properties : Invest in residential or commercial properties to earn consistent rental income.
• Real Estate Investment Trusts (REITs) : Buy shares in REITs to invest in real estate without owning physical properties.

These strategies help balance risk and reward, ensuring steady growth and income.

The buy and hold approach involves purchasing properties and keeping them over time. This strategy is popular among real estate investors for its potential to generate long-term wealth.

• Appreciation : Property values generally increase over time, providing potential capital gains.
• Rental Income : Earn steady income by renting out your properties.
• Tax Advantages : Enjoy various tax benefits, such as depreciation deductions.

To succeed, conduct thorough market research and manage your properties efficiently. This ensures you maximize both short-term rental income and long-term property appreciation.

Starting a real estate business requires careful planning, dedication, and strategic execution. By following the steps outlined in this guide, you can confidently embark on your journey toward success. Remember to continuously educate yourself, stay updated with market trends, and adapt to changes in the industry. With persistence and the right approach, your real estate business can thrive and prosper.

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Best Real Estate Accounting Software of 2024

Karrin Sehmbi is a lead content management specialist on the small-business team. She has more than a decade of editorial experience in the fields of educational publishing, content marketing and medical news. She has also held roles as a teacher and tutor. Karrin is based in the San Francisco Bay Area.

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Whether you’re a freelance real estate agent or you own a small real estate business, you’ll want accounting software with strong core accounting features, including double-entry accounting, income and expense tracking, and automated reconciliation of all your transactions. You’ll also want to choose software that includes tools to help you market your business and properties and manage communications with your clients. If those tools aren’t built in to the accounting software you select, then be sure the software integrates with third-party apps to help you meet those needs.

You’ll find both end-to-end real estate software solutions and accounting software with real estate-focused integrations in our list below.

Why trust NerdWallet

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95+ years of combined experience covering small business and personal finance.

75+ categories of best business software selections.

Objective and comprehensive business accounting software ratings rubric. ( Learn more about our star ratings .)

NerdWallet's small-business software content, including ratings, recommendations and reviews, is overseen by a team of writers and editors who specialize in business software, including payroll, accounting and payment processing. Their work has appeared in The Associated Press, The Washington Post, Nasdaq, Entrepreneur, ABC News, Yahoo Finance and other national and local media outlets. Each writer and editor follows NerdWallet's strict guidelines for editorial integrity to ensure accuracy and fairness in our coverage.

Real estate agents and brokerage firms have accounting software needs that differ from property managers and property management companies. If you manage properties, you may find a better fit for your business needs in the software solutions that make our list of the best property management software , including features for collecting rent and managing lease agreements.

Additional pricing tiers (per month): $20, $50, $70, $150, $275.  

$0 per month for the Free plan.

$20 per month for the Standard plan.

$50 per month for the Professional plan.

$70 per month for the Premium plan.

$150 per month for the Elite plan.

$275 per month for the Ultimate plan.

Less expensive than some competitors; free plan available for businesses with less than $50K in annual revenue.

Email support in free plan; phone and chat support in paid plans.

Rich feature set includes excellent invoicing, inventory management, workflow rules and a capable mobile app.

Add accounting widgets to your phone’s home screen; track time using your Apple Watch.

Fewer third-party integrations and reports than some competitors.

No plan includes more than 15 users (can add additional users for a fee).

While Zoho Books is limited in direct third-party software integrations, Zoho itself offers a full suite of business apps that integrate seamlessly with Zoho Books.

Zoho CRM: A full customer relationship management (CRM) platform to help you manage relationships and communications with your clients and glean helpful insights to build your client base.

Zoho People: HR software to manage a team of employees, including recruitment, onboarding and payroll .

Zoho Expense: A tool for detailed travel and expense tracking , reporting and management.

Zoho Sign: An app to help you manage the end-to-end process of securing digital signatures on important documents.

Why we picked it: Zoho Books takes our top spot for real estate accounting software for a number of reasons. First is that it offers a variety of reasonably priced monthly plan options ranging from a free option (designed for small businesses with less than $50,000 of annual revenue and requiring access for only one user) to an option suited for well-established businesses that require access for more than a dozen users. In this way, Zoho is a solution that can evolve with you from a solo real estate agent to a midsize brokerage firm.

Zoho’s core accounting software is packed with standard features such as automated transaction reconciliation (including bank feeds and the ability to set transaction categorization rules), invoicing and billing capabilities, a customizable chart of accounts and more. It also includes a wealth of reporting and tax features. Additionally, real estate agents will find Zoho Books’ document management and collaboration tools, including a customer portal available in all plan tiers, particularly useful.

Propertybase

Quote-based.

Designed specifically for real estate businesses.

Many useful software integrations.

Lack of pricing transparency.

Accounting functions are achieved through integration (limited to only one) rather than built in.

Property base offers a large library of software integrations.

QuickBooks Online: Seamless integration with your accounting software.

Zillow: An app to help market your listings.

DocuSign: Software to manage your paperwork.

Why we picked it: Propertybase is a complete software solution designed specifically for real estate businesses. Tools within the platform include those for CRM, marketing and sales. With Propertybase, you can build a website to showcase your brand, automate the marketing process to generate meaningful leads, manage client relationships and gather rich business insights.

The software handles all the unique needs of a real estate business apart from accounting. For that function, Propertybase has a direct integration with QuickBooks Online.

Additional pricing tiers (per month): $42, $78.  

$15 per month for the Early plan.

$42 per month for the Growing plan.

$78 per month for the Established plan.

Unlimited users in all pricing plans.

Integrates with more than 1,000 third-party apps.

Feature set includes an excellent mobile app and suite of reports, capable invoicing features, plus automated bill and receipt capture through Hubdoc.

Simple layout and easy to use.

No phone number for customer support listed.

Entry-level plan limits bills and invoices to five and 20 per month, respectively.

Xero’s app store contains hundreds of apps that integrate with the accounting software.

Loft47: An app designed for real estate agents and brokerage firms to track and manage commissions, escrow funds and more.

Landlord Studio: Property management and accounting software that includes income and expense reporting categories specific to the real estate industry.

Re-leased: Software to assist with financial management related to landlords and tenants.

Why we picked it: Xero includes several features built directly in to its accounting software that real estate businesses will find useful. The software’s contact management tool will enable you to keep detailed records of client communications and keep contact information at the ready. You and your team can also photograph and upload receipts for convenient expense tracking, organize and share documents, and track the financial health of your business. You can also do all of this and more from Xero’s highly rated mobile app.

Plus, Xero receives a full 5-star rating from NerdWallet. It stands out among competitors for its simplicity and ease of use. We typically recommend it as an excellent alternative to QuickBooks Online, as it carries nearly all the same features but at a more affordable price.

» MORE: Xero vs. QuickBooks Online

QuickBooks Online

Additional pricing tiers (per month): $60, $90, $200.  

$30 per month for the Simple Start plan.

$60 per month for the Essentials plan.

$90 per month for the Plus plan.

$200 per month for the Advanced plan.

» MORE: Explore all QuickBooks plans and pricing

Easy to share information with your accountant and to find QuickBooks experts and online resources if needed.

More than 750 app integrations, including live, in-house bookkeeping.

Robust feature set includes thorough record-keeping, comprehensive reporting, excellent invoicing and inventory management, plus a capable mobile app.

Daily phone support and 24/7 chat support in all plans.

Lacks industry-specific features.

Limited account users with each plan.

QuickBooks Online boasts an app library of more than 750 software integrations.

Stratafolio: App for recognizing lease and property management business insights and automating processes related to commercial real estate.

OwnerRez: A platform for managing vacation rental bookings and payments.

Why we picked it: QuickBooks Online is one of the best known and widest used accounting software products on the market. As such, it’s a smart choice for a brokerage firm looking for an out-of-the box accounting solution that any bookkeeper or accountant is sure to be well-versed in.

With four plan options, QuickBooks is an accounting software solution that can grow with your real estate business. Many of the product’s best and most useful features — such as advanced financial planning and tracking, comprehensive reporting and 24/7 support — are packaged in the Plus and Advanced plans, which come at a higher price point than many others on this list. This is why we believe QuickBooks Online is better suited for brokerage firms rather than solo agents.

Additional pricing tiers (per month): $33, $60, custom.  

$19 per month for the Lite plan.

$33 per month for the Plus plan.

$60 per month for the Premium plan.

Custom pricing for the Select plan.

Stay in touch with clients through the FreshBooks mobile app and get notified when invoices have been viewed or become overdue.

Intuitive, customizable invoicing capabilities compete with those of more robust accounting solutions.

Track time and add billable hours to invoices in all plans.

Weekday phone support in all plans.

Lacks features that quickly growing companies need, like audit trails for accountants to review.

Highest-tier Select plan only comes with two users (additional users add $11 per month) and lower-tier plans put limits on billable clients.

Least expensive plan lacks double-entry accounting reports, bank reconciliation and accountant access.

FreshBooks offers more than 100 direct software integrations, although it lacks apps directly related to real estate.

Gusto : A popular cloud-based payroll and HR management app.

Acuity Scheduling: A scheduling automation app to help you manage client bookings, reminders and cancellations.

Why we picked it: FreshBooks is NerdWallet’s pick for best overall freelance accounting software . It comes with all the standard accounting features you would need and expect, but its low-cost monthly plan options make it especially desirable for self-employed real estate agents (or even vacation rental hosts who wish to carefully track and report their rental income). Alongside its accounting features, FreshBooks includes tools for generating and customizing invoices, collecting online payments , tracking time and expenses, managing projects and generating reports.

Sage Intacct

Automation features streamline financial processes.

Customizable reports and dashboard enhance business insights.

Consolidates many functions, like billing, invoicing, cash flow management, payroll and HR, within a single product.

Quote-based pricing makes it difficult to compare with competitors.

Not suitable for small businesses that don’t plan to grow.

Like others on this list, Sage has a marketplace of apps that integrate with its software, though it lacks integrations specific to real estate.

Sage Intacct Payroll powered by ADP: Payroll software.

Why we picked it: For well-established real estate businesses looking to automate as much of the accounting process as possible, including accounts payable and accounts receivable , and engage with powerful reporting and insights software, Sage Intacct is a solid cloud accounting software solution. It’s designed for businesses of 20 to 500 employees, and you’ll find its quote-based pricing better suited to firms with large software budgets.

Methodology

NerdWallet independently reviews accounting software products before determining our top picks. We collect the data for our software ratings from products’ public-facing websites and from company representatives. Information is gathered on a regular basis and reviewed by our editorial team for consistency and accuracy.

NerdWallet’s accounting software ratings favor products that are easy to use, reasonably priced, have a robust feature set and can grow with your business. The best accounting software received top marks when evaluated across 10 categories and more than 30 subcategories. Learn more about how we rate small-business accounting software .

These ratings are meant to provide clarity in the decision-making process, but what’s best for your business will depend on its size, growth trajectory and which features you need most. We encourage you to research and compare multiple accounting software products before choosing one.

NerdWallet does not receive compensation for any reviews. Read our editorial guidelines .

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Stary Oskol is the Belgorod Region’s second city by population and today consists of two main parts: the historical centre on the hill and the new centre made up of blocks of housing estates (mikroraiony). It is named after the river on which it stands on; the word stary (old) was added to distinguish it from the new settlement of Novy Oskol (New Oskol). Just outside the city is an impressive cave-monastery complex.

Top recommendations in Stary Oskol

Kholkovsky Monastery

Travel outside the city to the nearby settlement of Kholki to visit the Kholkovsky Monastery - an impressive cave monastery.

Historical Centre

Walk around the historical part of the city, located where once a wooden fortress stood to protect Russia’s southern borders, and visit the museum here.

War Memorials

Have a look at all the war memorial in the city - in recognition of Stary Oskol’s status as a City of Military Glory.

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