Are You Where You Thought You’d Be?

February 3, 2017

Business Building

How is your year going so far?

Are you were you thought you’d be with the number of closings or dollar volume in your real estate sales?

Did you start the year out with a business plan?

If yes, but you’re not where you thought you’d be, review your plan. Are you doing the strategies that were necessary to have a good year?

Is your income not keeping up with your expenses?

I read an article recently that talked about when agents earn more money, they often times end up with less of it in the end. It got me to thinking.

If you go from making $40,000 in a year to doubling it to $80,000 a year, that sounds great. But the problem is many people then trade in their Ford for a Lexus or sell their 3 bedroom home for a larger 4 bedroom home.

Unless you’re paying a large percentage in cash, you’re trading a little bit of debt for a larger amount of debt. In reality, you’re still in debt, but at a much higher level. You’re putting a financial ball and chain around your leg.

Your newfound increase in income is only giving you more stress and headaches to worry about and pay for.

Don’t let this happen to you!

Work towards becoming debt-free!

Forget about instant gratification!

Get out of your monthly debt first!

Learn to live below your means and pay more things off.

It can be nice to not have 1 or 2 monthly car payments.

Sock some money away for an emergency fund.

You have the power to decide how to spend every dollar you make. You don’t have to keep up with the Joneses.

Do you really want to be like everyone else? You’d be amazed at just how how fragile many families financial situations really are. Work towards building a solid foundation around you and your family.

You should also look at your business expenses. I’ve talked about this in the past. With the age of the Internet, digital photography, web sites, blogs, videos and audios, advertising mediums are going through a big change and expensive print advertising is one area you may be able to decrease your expenses in.

Now I’m not saying to stop all print advertising. You need to analyze what’s working in your market and determine what’s the best use of your marketing plan dollars.

Take a snapshot of your expenses so far this year and see if you can move your money from any ineffective areas of marketing to another area that will give you a better return on your investment.

Please don’t do wasteful, ineffective marketing just because your seller wants you to. Be strong enough in your presentation to show your sellers what it really takes to sell their home in this market.

By determining the most effective way to utilize your marketing dollars, you can actually increase your business by focusing on the marketing and advertising strategies that work in today’s marketplace.

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