GR 409 by the Missouri Association of REALTORS with author & instructor Corky Hyatt, CRB, CRS, GRI and John Mayfield, ABR, CRB, ePRO. How to Business Plan, Organize, Manage Time, Checklist, and Exit Strategize your business!

1. Business Planning2011 & Beyond! Corky Hyatt, CRB, CRS, GRI & John Mayfield, ABR, CRB, ePro Missouri Association of REALTORS®

2. May I introduce to you Dr. Fred Grosse! Have a “10” Today! Document your “Mooring Lines” Practice your “Morning Ritual!” Enjoy your “Rewards!”

3. Dr. Fred Grosse’s 6 Rules Recognize that life is primary; business funds life. Uncover your passions and give yourself permission to celebrate them. When working, only engage in top dollar-productive activities. Delegate effectively, so you can work less and earn more. Focus on what you can offer your clients, not what you can get from them. Remember to give back to the community you live in.

4. What is Your Biggest Challenge Right Now?

5. What Have You Tried?

7. #1 of Top 7 Rookie Mistakes No Business Plan By Terry Watson!

8. Terry Watson’s Top 7 Rookie Mistakes! No Business Plan! Not using resources available to you! Not maximizing your productivity! Not earning REALTOR® designations! Not purchasing equipment as a business entity! Not crafting your message to prospects’ concerns! No income buffer, passive income, or nest egg!

9. Poverty Mentality a way of thinking …perpetuates poverty … focus is on what one doesn’t have rather than what one does have. A common characteristic is making fear based decisions.

10. “Who Am I?” Audit

12. Listings sold/year?

18. S.W.O.T. Strengths Weaknesses Opportunities Threats

19. Opportunities! Weaknesses! Strengths! Threats!

21. Threatsor opportunities?

22. Threats or Opportunities?

25. Social and Outgoing

26. Stead and Dependable, or

27. Cautious & Perfectly Accurate?Michael Maher 7L

29. For theDominantperson, you will want to include executive summaries, bullet pointed key details, easy-to-find information that can be quickly reviewed; “executive” styling; bold. For the Social/Influencerperson include color, interactivity, people-oriented materials; stylishly presented; recognition. Color flyers, web sites with flair. For the Conscientiousperson include accurate details, full explanations; honest and straightforward; correct information; quality. Charts and graphs. For the Steadyperson include information focused on security, dependability; remember their natural fear of change.

31. Weaknesses?

34. It’s Not Magic! Mission Vision Values & Beliefs Goals Strategies Action steps Evaluation Refinement & Redirection

36. Personal Growth

37. Leadership

38. Team Concept

40. Strategies? “Strategic” planning requires that once your mission, vision, values, and goals have been defined, You take the next step, creating strategies to accomplish your goals!

41. In the rectangle, Write a 1-sentence description of one of your goals for the next year!

43. What’s My Deadline?

44. Productivity&EffectivenessPlanning!

46. Work “Billable” Hours Billable hours = hours that produce income! Prospecting, Presenting, Negotiating, Closing & Follow-thru!

47. Allan is from your neighborhood. Working with an agent who knows your community can be vital to the success of your transaction. After years of personal and business interaction in the area, Allan has gained an in-depth understanding of the many factors affecting real estate transactions in Philadelphia. Over 25 years of experience Experienced and skilled negotiator In-depth and active community member Top producer Detail oriented, trustworthy and committed to excellence Extensive marketing and advertising background Good rapport with lenders, appraisers and all other people involved with buying and selling real estate Comprehensive knowledge of neighborhood marketing conditions Totally committed to the luxury condo market Allan has a a positive attitude, is a good listener and will go the extra mile to make your transaction as smooth and efficient as possible. ALLAN DOMB REAL STATE Philadelphia, PA Since 1980, Allan Domb and his highly reputable real estate brokerage firm have been known throughout the United States as key contributors to Center City Philadelphia’s luxury condominium market. Today, Mr. Domb continues to control 75% of Center City luxury condominium sales in buildings such as Academy House, The Barclay, Center City One, The Dorchester, Hopkinson House, Independence Place, Pier 3, Pier 5, The Philadelphian, Society Hill Towers and Wanamaker House. Nationally, Mr. Domb has been ranked the top producing residential real estate broker for the greater part of the past twenty years. Alan Domb

48. Protect PRIME Time! Prime time = “belly to belly” buyers & sellers Prospecting, presenting, negotiating and closing plus following through! NO Administrative tasks during PRIME TIME!Administer in non-consumer hours (early or late)

49. Eliminate $ Wasters! Track “ROI” for all promotion expenses Plan expenses a year at a time Use a business budget Hold yourself accountable to the plan and the budget No more “just one commission” excuses! If you need help, establish a “Board of Directors” with people you respect!

50. Practice Positive “Dumping” Spam? (Panda, McAfee,Norton) Spy-ware? Use Message Rules in Outlook Express or Outlook Auto emails into folders or Delete them before you see them! Capture leads with message rule flyers to emails from REALTOR.com leads, your firm’s website leads, or your own web leads

51. Do it now! Do it now! Do it now! Do it now! Do it now! Do it now! Do it now! Do it now! Do It Now!

52. Cold Calling’s Dead!So What? You never did it anyway!

53. Build My Referral Business!

54. Do youtrulydesiremassive success?

55. Read, Study, Adopt 7L!

56. Make Your BusinessTechnology BasedNotPaper & Clutter Based!

57. Where’s Tech Going?

58. Corky Hyatt QR Code!

60. Ally or Foe?

61. Communicating in a World Full of Noise! “Game Changer!”

62. Benefits of Social Networking Easy to get started! Not a techie? You can still network! Immediate gratification! “One-Click” referral sending/receiving! Blogging, social networking can create credibility! Excellent access to Gen X and Gen Y Makes information readily available to consumers It’s FREE!

63. How can you use social networking to “incubate” internet consumers?

66. Who is “New” Consumer

67. Who is Internet Buyer Today? 84% of all buyers are internet consumers Expect “instant” response 56% expect a response within 30 minutes Typical response by real estate agents was 10 hours, 16 minutes Do a lot for themselves – researching 1st on their own

69. How May Hats Can You Wear? Listing Agent? Buyer’s Agent? Ad Man? Sales Mgr? CIO (Chief Info Officer)? Accountant? Webmaster? Staffing???

70. Assistance For “Me, Inc.” Live assistance Virtual assistance Choosing the best “Office Manager” Create the job description, i.e. which “checklists” will you delegate first, later? DISC (Assess the personalities first) We hire for personality and Fire for failure to perform!

71. Have You DevelopedYourExitStrategy?

72. Systems & Checklisting! For a sample you can use See Page 15… Sale to Closing Checklist

73. Legal Structure Sole proprietorship, partnership Corporation (S, C, or LLC) Budgeting Organizational structure Agent alone Add technology tools Clerical support Buyer and Seller agents CEO & into Exit Strategies Structural Decisions

74. Business Budgeting

77. Budgeting & Taxes

78. ChecklistofReal EstateBusinessTaxDeductionsfromwww.Inman.com

79. Set Deadlines! Write plan deadline: Budget deadline: Tech-equipment review deadline: COI clean-out deadline: Computer back-up deadline: Legal structure review deadline: Schedule a physical deadline: Schedule time off deadline: Insurance review deadline: Living Trust deadline:

80. Resources!Check out the Links! Build Your Brain Trust!

81. EFFECTIVENESS & EFFICIENTY CHECLIST: How to Shut Down My Time, Effort, & Money Leaks! CRS members comprise just 4 percent of all REALTORS®. CRS Designees earn an average of $155,876 annually — three times as much as the typical REALTOR® who sells residential real estate.