There are many financial aspects of a business on all sides of the deal, however, one thing we hear over and over again is that this topic is not taught enough. So, we’ve put together some sage advice from contributors to help guide you into areas that may be new, on the back burner, or long-forgotten.
New Agent Advice
9 Financial Tips for New (And Not New) Agents
Here are some financial tips and techniques that can help you earn more, save, and prepare for your eventual retirement.
The New Estate Agent’s Guide to Financial Planning: Year One
If you are a new agent, you need to keep an eye on the bottom line while actively promoting your business. Here’s advice from the experts to keep your budget on track and business thriving.
Plan: One-year marketing calendar for new agents
As a beginner with little experience, putting together a solid marketing plan can seem like an impossible task. Below is a monthly breakdown to help you with your first year in real estate.
5 smart entrepreneurial financial moves for new agents
Getting started in real estate presents its own unique challenges. By taking the time to think about your finances and lead generation activities, you will set yourself up for long-term success.
make the bank
Everything you need to know about how agents make money in 2022
Sales commissions are still the norm in real estate, but the industry is also in the midst of rapid development when it comes to paying agents.
Repeat customers on the lock! How this agent achieves a repeat customer rate of 99.7%
If you’re looking for consistent growth in your business, make sure you devote time and effort to people who already know you, love you, and trust you, says Jamie Burgess. These relationships are the seeds of future growth.
Your success hinges on these three numbers: Do you know them?
The numbers don’t lie. If you want to grow in real estate, you have to evaluate and focus on the right real estate. Here are some questions you can ask yourself to understand where your business is coming from and how to move it forward.
Get More Listings: 7 Steps to Finding, Analyzing and Controlling your Real Estate Farm
Want more listings next year? In this guide to building a geographic real estate farm for farm, Jimmy Burgess explains how to choose the right location, run the numbers, create a marketing budget, and plan to deliver this potential value from the start. Follow these basics, and you will dominate your farm.
Video will dominate online search: How to win over Google
In 2022, it is expected that 82 percent of online search will be video. You know you have to create more video content to reach those potential customers, but where do you start? Jimmy Burgess explains how to determine what content your future customers will love, create and publish videos that capture their attention for maximum exposure.
Want to earn more commission? How to increase the average home sale price
There are two ways to increase your income: sell more homes or increase the median sales price, says Jamie Burgess. Here’s his strategic approach to raising your averages.
budget
Don’t let inflation break your budget! Fix your spending now
Between inflation and fewer transactions expected this year, you may worry about your money. The good news is that as you start looking at your expenses, you’ll likely find that there are plenty of places where you can cut costs enough to offset some of the higher prices you’re seeing.
“Million Dollar List LA” Star on 5 Budget Expenses Immediately
As independent contractors, real estate agents must keep track of expenses. Here are some budget tips for beginners from stars James Harris and David Barnes on “The Million Dollar List in Los Angeles.”
14 useful tips for agents looking to save money on their business
From resisting the shiny stuff (so to speak) to taking advantage of local pools of trainees, here’s how industry experts say agents can save their pennies in cash in an ever-changing market.
Low Price: Boot Your Business With These 8 Simple Strategies
While sales aren’t expected to be minimized, it doesn’t hurt to reconfigure the budget to build a more robust nest egg that will help you expertly navigate whatever the market may throw your way. If you’re cutting back on, brand new, or need to prop up a little cash, here’s how to build a (nice) open house, host a client appreciation event, organize this list and more on a budget.
physical ability
5 Financial Podcasts You Might Have Missed
You may have heard of RamseyAnd Rich DadAnd Suzy But if you need to get into your financial education in 2020, here are five new and practical podcasts packed with current economic advice and packed with fresh perspectives that will open your mind and wallet to new possibilities.
7 steps to protect your business from stagnation
Whether you are a sole agent or an intermediary owner, your response to the COVID-19 shutdown right now will have repercussions for months and years to come. Here are seven things you need to do now to take charge of your finances and prepare for what’s ahead.
4 hidden expenses you should check today
As an agent, it is important to delve into your finances and consider every little thing you spend money on. This includes your single biggest expense – your broker split.
Dollars and Feeling: 3 Rules for Keeping Your Financial Health in Control
Welcome to our new frequent column on all things financing for agents and brokers. In this opening column, Warburg Realty broker Bill Kowalczuk talks about preparing yourself financially for a solid career.
10 apps to keep your money under control
Mobile apps can be game-changers, making your business finances streamlined, organized, and even a little fun. List of Millions of Dollars L.A. Superstars James Harris and David Barnes share their favorite apps for handling both personal and business finances.
12 Steps to Prosper During a Market Transformation
As the market changes, the question becomes: What are you going to do to ensure that your business continues to grow? Here, Jimmy Burgess will take you through his 12-step plan for success through market transformation.
financial planning
Is it crossed out? Find out which of these 14 expense agents can deduct at tax time
A quick reference guide to common real estate agent expenses to help you decide if they are tax deductible.
5 steps to tax planning for money-conscious real estate agents
If you’ve had a successful year in your real estate business, you need to make sure you have a financial plan ready. CFP Jordan Curnutt offers some key tax planning strategies to consider.
7 ways to succeed (not just survive) in a changing market
No matter what the market does, there are always agents with a growing business. Jimmy Burgess shares seven steps you can take in this changing market to ensure you thrive.
Mastering Your Money: 6 Steps to Sustainability
Money mastery is a set of skills that all business owners can, and must learn, to achieve long-term business success and longevity. According to CEO Chris Bollinger, this is the crux of creating a true legacy in real estate.
Is it crossed out? 14 Expense Agents Can – And Can’t – Deduct At Tax Time
A quick reference guide to common real estate agent expenses to help you decide if they are tax deductible.
investment
7 Unique Tax Calculations Every Real Estate Agent Should Consider
You have countless options to offer for your future financial success. Certified Financial Planner Jordan Cornut tells you how to maximize the potential of your investments.
Retirement plan agents ignore (and how brokers can help)
Because of their superior understanding and experience with market trends, real estate offers agents a retirement investment that allows them to leverage their own expertise, with minimal risk, says owner-broker Anthony Askewitz.
How to protect your investment portfolio from stagnation through rentals
Recessions can be nerve-wracking for real estate investors. But there are several factors that make rentals a smart investment in turbulent times.
How to sustain your real estate business into the future in 2022
The real estate market changes all the time, and you have to change with it. Michael Zaransky of MZ Capital Partners provides strategies to tackle tomorrow’s challenges head-on.
5 key tips for real estate investors from Inman Connect
From the steps to take to achieve success to how to face changes in the housing market, the speakers at Inman Connect shared their secrets.
You are an agent who wants to be an investor: 4 ways to get into the game
Some of the most successful agents practice what they promote by investing in real estate. Speakers Inman Connect Las Vegas shared four key tips on how to get started with dealerships.
Is this the? 4 factors to consider when buying an investment property
No two investment properties are the same. The history of repairs, market conditions, and the region’s long-term growth potential – as well as your own risk preferences – all determine whether a property is a good fit for your portfolio. Here’s what to consider.