There are so many financial aspects of the business on all sides of the transaction, and yet one thing we hear over and over again, is that not enough is taught on the topic. So, we rounded up some sage advice from contributors to help guide you on the areas that might be new, put on the back burner or long forgotten.
New agent advice
Here are some financial tips and techniques that can help you earn more, save more and prepare for eventual retirement.
If you’re a brand new agent, you need to keep your eye on the bottom line while effectively promoting your business. Here’s advice from the experts to keep your budget on track and business booming.
As a newbie with little experience, whipping up a robust marketing plan can feel like an impossible task. Here is a month-by-month breakdown to get you through your first year in real estate.
Starting out in the real estate business presents its own unique challenges. By taking the time to consider your finances and lead generation activities, you’ll set yourself up for success in the long run.
Sales commissions are still the norm in real estate, but the industry is also in the midst of a rapid evolution when it comes to agent pay.
If you’re looking for consistent growth in your business, make sure you are devoting time and effort to the people who already know, like and trust you, says Jimmy Burgess. These relationships are the seeds for future growth.
Numbers don’t lie. If you want to grow in real estate, you have to evaluate and focus on the right ones. Here are a few questions you can ask yourself to understand where your business is coming from and how to push it forward.
Do you want more listings in the coming year? In this guide to building a geographical real estate farm, Jimmy Burgess breaks down how to choose the right location, run the numbers, create a marketing budget and plan to provide those prospects value from the get-go. Follow these fundamentals, and you’ll dominate your farm.
In 2022, it’s predicted that 82 percent of online search will be video. You know you should create more video content to reach those would-be clients, but where do you start? Jimmy Burgess breaks down how to identify content your future clients will love, create videos that will catch their attention and post them for maximum exposure.
There are two ways to increase your income: sell more homes or increase your average sales price, says Jimmy Burgess. Here’s his strategic approach to raising your averages.
Between inflation and fewer transactions anticipated this year, you may be getting concerned about your finances. The good news is that when you start looking at your expenses, you’ll probably find that there are plenty of places where you can cut enough costs to make up for some of the higher prices you’re seeing.
As independent contractors, real estate agents must keep on top of expenses. Here are some budget-savvy tips for newbies from Million Dollar Listing LA stars James Harris and David Parnes.
From resisting shiny objects (so to speak) to taking advantage of local intern pools, here’s how industry experts say agents can save their pennies in an ever-shifting market.
Although sales aren’t expected to bottom out, it doesn’t hurt to reconfigure the budget to build a more robust nest egg that’ll help you expertly navigate whatever the market may throw your way. If you’re trimming back, brand new, or need to shore up a little cash, here’s how to throw a (nice) open house, host a client appreciation event, stage that listing and more on a budget.
You may have listened to Ramsey, Rich Dad, and Suzie, but if you need to bring your financial education into the 2020s, here are five podcasts that are fresh, practical, packed with current economic advice and brimming with fresh perspectives that will open your mind and your wallet to new possibilities.
Whether you are a single agent or a broker-owner, your response to the COVID-19 shutdown right now will have ramifications for months and years to come. Here are seven things you need to do right now to take charge of your finances and prepare for what’s next.
As an agent, it’s critical that you take a deep dive into your finances and look at every little thing you’re spending money on. This includes your single biggest expense — your broker split.
Welcome to our new recurring column about all things finance for agents and brokers. In this inaugural column, Warburg Realty broker Bill Kowalczuk talks through setting yourself up financially for a strong career.
Mobile apps can be game-changers, making your business finances streamlined, organized and even a little fun. Millions Dollar Listing LA stars James Harris and David Parnes share their favorite apps for handling both your personal and business finances.
As the market shifts, the question becomes: What are you going to do to make sure your business will continue to grow? Here, Jimmy Burgess will take you through his 12-step plan for thriving through a market transition.
A quick reference guide for common real estate agent expenses to help you determine whether or not they are tax-deductible.
If you had a blockbuster year in your real estate business, you need to ensure that you have a financial plan in place. Certified Financial Planner Jordan Curnutt offers some key tax planning strategies to consider.
No matter what the market does, there are always agents who have growing businesses. Jimmy Burgess shares seven steps you can take in this shifting market to ensure that you thrive.
Money mastery is a skill set that all business owners can, and need to learn to achieve long-term business success and longevity. According to CEO Chris Pollinger, it’s at the heart of creating a true legacy in real estate.
You have myriad options to be saving for your future financial success. Certified Financial Planner Jordan Curnutt tells you how to maximize the potential of your investments.
Because of their superior understanding and experience with market trends, real estate offers agents a retirement investment that allows them to benefit from their own expertise, with minimal risk, says broker-owner Anthony Askowitz.
Recessions can be nerve-wracking for real estate investors. But several factors make rentals a smart investment in uncertain times.
The real estate market is changing all the time, and you have to change with it. MZ Capital Partners’ Michael Zaransky offers strategies for meeting the challenges of tomorrow head-on.
From the steps to take in order to find success to how to meet changes in the housing market, speakers at Inman Connect shared their secrets.
Some of the most successful agents practice what they preach by investing in real estate. Inman Connect Las Vegas speakers shared four key tips for how agents can get started.
No two investment properties are the same. The history of repairs, market conditions and the long-term growth potential of the area — as well as your own risk preferences — all factor into whether a property is the right fit for your portfolio. Here’s what to consider.