Center for REALTOR® Development 063: Real Estate Business Planning for 2022 with Brent Lancaster
Do you have a date on your calendar to start business planning for 2022? Agents with a plan are more likely to reach their financial goals than those who "wing it." However, there can be a lot of moving pieces involved before you can get a clear picture of what to focus on first. Our guest, Brent Lancaster, is not only knowledgeable in real estate, but he loves to educate agents on the business of real estate. This episode focuses on fun and practical ways to plan for your business in 2022 and highlights some of the important strategies to consider when balancing life and work.
[2:00] A little bit about Brent and his experience in real estate.
[4:50] Whenever you Google "business plan," the search results show something very complex and overwhelming.
[5:25] If you're a single agent and not part of a big team, Brent shares what you need to focus on first.
[13:00] If you want to be number one in your industry, there's going to be a cost. What are your priorities?
[18:50] Focusing on what you can control.
[19:35] What kind of data or information should an agent gather to fully flesh out their business plan?
[25:20] Marketing and money go together. Take an in-depth look at what you're spending on, and really assess if it's working or not.
[30:25] Brent shares ways to make a business planning session fun.
[35:40] If you have a team, ask them what their personal financial goals are. You have to find the motivation behind why your team does what they do.
[39:50] Whenever you hit a milestone, be sure to celebrate your wins with the team. These positive moments really drive up motivation, productivity, and morale!
[45:00] Brent shares why you should attend real estate conferences (and sales conferences) outside of your market.
[47:10] Monica shares some additional educational resources agents can leverage in their business.
[49:35] Monica has a new book out! Link in the show notes.
[51:15] How do you plan for both business and life?
[55:35] Brent's biggest tip? Stop telling your clients to call you "anytime"! You need some peace of mind.
Tweetables:
"When you're looking at planning in 2022, set aside some money. How much money do you want to spend on an annual basis on marketing? Put a number on it." — Brent
"When you find out what drives people, later down the road, it helps you as a team leader to refocus them; to help them remember what their goal was." — Brent
"I prefer work/life harmony. You have total permission to love what you do and to work hard at it." — Brent
Guest Links:
Additional Links:
Microcourses found at Learning.REALTOR
Onlinelearning.realtor for NAR Online Education
Training4RE.com — List of Classroom Courses from NAR and its affiliates
crd@nar.realtor
Host Information:
Monica Neubauer
Speaker/Podcaster/REALTOR®
Monica's book:
Monicaneubauer.com/books/straight-talk-for-real-estate-success/
Guest Bio:
Brent Lancaster combines his love of the business of real estate with his passion for education. As president/CEO of one of the nation's oldest real estate schools, BobBrooks.com, he offers a variety of solutions to the challenges agents face in today's real estate environment.
In 2003, Brent developed his first online course and has spent every year since continually searching for innovative ways to bring quality and consistency to every agent using multiple delivery formats. Today, he continues to teach classroom instruction but has also transformed the traditional brick-and-mortar classroom into a multimedia educational experience.
Brent is also the broker/owner of his own real estate firm, Brent Lancaster & Associates. He lives in Baton Rouge, Louisiana with his wife, Laura, his two children, Leyton and Nate, and Lilly the office dog.