Value of a Business Plan

Posted by: Jessica Gopalakrishnan on March 7th, 2008

A few months ago, we featured Mike Beernink of Century 21 Findley in Georgia as the “Agent of the Month” in our Agent Success Newsletter.

A HomeGain AgentEvaluator™ Platinum Club Member, Mike spoke with me about his business techniques and the essential tools that help him achieve his goals.

According to Mike Beernink, success in real estate all starts with prospecting. Every year, Mike creates a strategic business plan, which always starts with prospecting objectives. “Prospecting is one of the most important things an agent does,” says Mike.

Having been in the real estate business for 8 years in the North Atlanta, GA area, servicing mostly sellers, Mike is had his best year yet in 2007, even in a down market. Mike had closed 36 sides by the end of August last year with his gross closed commission ahead of those in 2006.

Here’s how Mike creates his business plan:

  1. Determine how much money you want to make for the year.
  2. Then you calculate how many closings per year you’ll need in order to make that much money.
  3. Then determine how many contracts it will take to get that many closings.
  4. Then how many contacts you’ll need to find to get to those contracts.
  5. That configuration points to how much prospecting you’ll need to do.

He points out that developing your plan is as important as sticking to it. “Stick with your plan, no matter what. You will be successful if you are single-minded and determined.”

A teacher for 10 years, Mike is a firm believer in continuing education. “I’ve had a lot of training through real estate programs. I’m a Floyd Wickman Sweathog™ graduate. That’s where I learned that I cannot be afraid to pick up the phone to call anyone. Just as important as asking every client you have for a referral, you need to have the guts to pick up the phone and call prospects.”

Mike knows that in order to take business to another level, you need to have the right people behind you. “The most important person to my business success is my wife, Holly. Holly assists me by taking care of everything on the back end – like preparing me for listings and other paperwork, following up, running contracts from one place to another.”

What essential technology is Mike equipped with?

He uses Top Producer™ as his contact management system, a lap top, a cell phone, a blackberry, and AgentEvaluator to support his prospecting efforts.

“AgentEvaluator allows me to continue with prospecting while I’m out of the office.”

“Since prospecting is something you must do on a daily basis, and I need to be able to be caught up on leads that come in every day, AgentEvaluator helps me all of that.”

“Years ago I heard about AgentEvaluator from a colleague in my office. It’s definitely become an essential part of my business. I find it to a lot of fun, too!”
Mike responds to his AgentEvaluator leads individually.

“I find that I need to look at each person to determine what kind of personalization and proposal I need to send back to them. I try to establish three things with them in my initial response:

  1. That they have a need to sell their house
  2. That they understand what he is going to do for them
  3. That they need to price their home at a price where it’s going to sell.

Without establishing those things up front, it’s a waste of my time.”
In closing, Mike reiterated that it takes hard work, determination and great prospecting skills to be a successful REALTOR®.

“It’s important to put the right tools in place: your business plan, the right people behind you, and technology that makes your life easier.”

“Real estate is not for everyone. I honestly have great respect for anyone who works hard in this business.”

Mike Beernink
Century 21 Findley
www.mikebeernink.com
Life Member Million Dollar Club
HomeGain AgentEvaluator Platinum Club Member

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