Fundamentals in Real Estate Series Part 7 Sales Associate Personal Finances

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Mishandling of personal finances is a common cause of Sales Associate failure. These are people that were good at listing, selling, marketing, and technology, but were horrible at handling their personal finances. Oftentimes we hear Sales Associates say that they cannot budget their income and expenses because their income is variable. Actually it is the other way around – it is because their income is variable that they have an absolute need to budget their income and expenses.
So the first thing to do when it comes to personal finances is to develop a budget. The only people that can afford not to have a budget are the few people that are so strict with their own personal finances that they always come up spending less than they budgeted for. As mentioned, there are very few people that fall into this category. For the rest of us, budgeting is a mandatory activity.

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Fundamentals in Real Estate Series Part 7 Sales Associate Personal Finances

  1. 1. FUNDAMENTALS IN REAL ESTATE SERIES PART 7 SALES ASSOCIATE PERSONAL FINANCES Pranav Pandya Franchise Development Manager RE/MAX Mumbai Gujarat Maharashtra
  2. 2. RE/MAX Mumbai Gujarat Maharashtra Recap Part 1 - Getting Started Part 2 - Marketing Part 3 - Prospecting Part 4 - Working with Sellers Part 5 - Working with Buyers Part 6 – Generating Referrals
  3. 3. Today’s Agenda • Have a budget • Keep your business and personal finances separate • Manage your cash flow • Five finance secrets of successful RE/MAX agents • 7 Secrets to Winning Over More Buyers • 6 Best Practices for Online Leads
  4. 4. Have a Budget
  5. 5. RE/MAX Mumbai Gujarat Maharashtra Categories •Giving back to the community •Saving and investing •The RE/MAX fees •Business expenses •Personal expenses •Fun and luxury
  6. 6. Keep your business and personal finances separate
  7. 7. Manage your cash flow
  8. 8. 5 Finance Secrets of Successful RE/MAX Sales Associates
  9. 9. RE/MAX Mumbai Gujarat Maharashtra 1. Take charge of your finances. The easiest way to lose control of your business is to lose control of your money. 2. Don’t buy consumer items (cars, clothing, vacations, etc.) on credit. 3. Use credit cards only for convenience, not for carrying debt.
  10. 10. RE/MAX Mumbai Gujarat Maharashtra 4. Live within your means and don’t try to keep up with your co-workers, neighbors, and family members. 5. Invest in real estate. You can make money selling real estate, but you can get rich by buying real estate. Make the specialized knowledge that you have work for you hard
  11. 11. 7 SECRETS TO WINNING OVER MORE BUYERS
  12. 12. RE/MAX Mumbai Gujarat Maharashtra Don’t Be Slow to Respond
  13. 13. RE/MAX Mumbai Gujarat Maharashtra Be a Savvy Negotiator
  14. 14. RE/MAX Mumbai Gujarat Maharashtra Don’t Come Across as an Amateur
  15. 15. RE/MAX Mumbai Gujarat Maharashtra Have a Web Presence
  16. 16. RE/MAX Mumbai Gujarat Maharashtra Don’t Dodge a Question
  17. 17. RE/MAX Mumbai Gujarat Maharashtra Follow the 3 E’s •Educate •Empathize •Encourage
  18. 18. RE/MAX Mumbai Gujarat Maharashtra Don’t Pull a Houdini
  19. 19. 6 BEST PRACTICES FOR ONLINE LEADS
  20. 20. RE/MAX Mumbai Gujarat Maharashtra Respond in Kind
  21. 21. RE/MAX Mumbai Gujarat Maharashtra Don’t Call Them
  22. 22. RE/MAX Mumbai Gujarat Maharashtra Always Include Your E-mail Signature
  23. 23. RE/MAX Mumbai Gujarat Maharashtra There’s No Such Thing as Too Fast
  24. 24. RE/MAX Mumbai Gujarat Maharashtra Keep in Touch, Or Else
  25. 25. RE/MAX Mumbai Gujarat Maharashtra Treat Online Leads Like Human Beings
  26. 26. RE/MAX Mumbai Gujarat Maharashtra Thank You

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