I want to write a little today about how it's important to have your business under control. When your selling Real Estate, in order for it to make sense the business side of the industry needs to run like a well oiled machine. Profits/losses and balance sheet filled with the correct data is vital to any one business. A company needs to know what is coming in and what is going out. There is no room for missed managed numbers if one plans on staying in business, not to mention growing one's business. As a business owner, marketing is probably one of the most important aspects of a growing business. Marketing is not just advertising, which is a large part, but rather what is the company going to do three, six, nine, twelve months from today. This would be called forecasting. The numbers may not be exact, but they need to be close. This is how a business operates and lets the executives know where to add and subtract funds from parts of the business which work and which do not work.
The Real Estate side of the business is then fun once the business side is well managed. Both sides of the industry run separate but one cannot exist without the other. The Real Estate side needs to be successful in funding the business side. To many this may seem elementary, however I have gotten to know many Realtors/agents and they don't even have a business plan. They have little to no knowledge of profits coming in and expenses going out. There is little peace in their business and many times it shows. Grasping both aspects of the industry is important for success, because one will help the other. Real Estate will help with the profits, and the business technical side will supply the data to increase profits, client satisfaction and confidence.