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Managing Finances and Creating Profits in Real Estate
The key focus in real estate is on managing finances to create profits. To build a successful business in real estate, one must focus on four main levers: increasing per person production, growing the sales team, controlling company costs, and raising the average sales price. By allocating resources effectively, including expenses, commissions, marketing, and taxes, a real estate agent can achieve their financial goals and net profit targets. Utilizing tools like chat GPT can help in efficient financial planning and budgeting, allowing agents to streamline their processes and spend more time refining their financial strategies.