The Bottom Line
Pros
- Comprehensive real estate specific office expense planning
- Budgets revenues by agent productivity & average transaction amounts
- Calculates recruiting expenses
- Prompts for amounts billed to agents versus company expenditures
Cons
- Though they can be added, more default marketing expense types would be nice.
Description
- Agent productivity modifiers - You can classify your agents by productivity, sides, volume, etc.
- Break out buyer and seller sides by agent - Project agent closings by transaction type.
- Agent-by-agent split % & sliding scale - Use set % or sliding scale commission calcs by agent.
- Office & Overhead expense categories - Plug in your overhead expenses & average by agent.
- Per transaction costs tracking - Assign static costs that are related to transactions.
- Recruiting budget tracking - Set up and track expenses to recruit new agents.
- Marketing expense budgeting - Track all phases of marketing expense, including agent portion.
Guide Review - The CreateAPlan® Brokerage Business Planning System
Or perhaps you've just gotten your real estate broker license and you're going over the many facets of the operation you're about to set up. This can be one of the most valuable exercises you do at the beginning of your business formation tasks list. Making decisions about facility, office operations and marketing expenses aren't easy when you haven't done it before. It's easy to forget expensive items. CreateAPlan will prompt you for those expense and revenue item inputs that are specific to the real estate brokerage business. If you start asking around, you might be surprised at how many of your competitors do not have budgets that include recruiting costs, or that base revenue projections on agent productivity models. You don't have to stress out over what you might miss or miscalculate, because you can adjust your numbers or goals throughout the year.
