How to do financial planning for a realtor
Making a financial plan for a realtor is essential to avoid indebtedness in the future. That’s because a realtor’s earnings vary greatly from month to month. They depend on the commission of each deal closed, whether it is lease or sale.
Therefore, financial planning for realtor is far from being nonsense. Knowing that the real estate sale process takes a long time in most cases, the professional can go a few months without seeing the color of the money. But the bills always arrive without delay, meaning you need to pay them so you don’t get into debt.
Speaking of debts, according to a survey by the Credit Protection Service (SPC Brasil) and the National Confederation of Shopkeepers (CNDL), almost 60 million Brazilians are negative. This represents almost 39.3% of the Brazilian population over 18 years of age.
In this sense, you can’t do without financial planning for a realtor, right? See how:
Make an expense sheet
Rent. Electricity bill. Netflix Subscription. Investment in real estate marketing. The first step in planning for a realtor is to write down all your expenses, including the smallest ones, like the coffee you have after a visit.
At the end of the month, you add up all these expenses to see what, more or less, is the amount of money you need to pay for everything. You can do this in a spreadsheet or resort to free spending apps. They facilitate your analysis and even generate reports on your financial situation.
set future goals
Once you’ve assessed your expenses, you need to see where you can mop them up. One way to do this easily is by setting goals ahead. So you make a commitment to yourself.
Here, it is important to separate your earnings into two and, of course, respect this division: 30% for professional expenses and 70% for personal expenses and reservations. With this separation, you stop spending on superfluous things and invest in what really makes a difference in your professional and personal life.
Prefer to buy in cash
Financial planning for a realtor should also include monthly spending containment. One way to do this is to buy in cash. So, your money doesn’t depreciate over time and you don’t have outstanding payments. Even because you don’t know how your financial situation will be in the coming months.
So, no splitting in 10 times, huh! Another good thing about paying up front is that you are more likely to get a discount.
Build a reserve for the future
Within realtor financial planning, you cannot take a short-sighted view. In other words, it’s critical that you think long term and think of all possible scenarios. This includes lean period and retirement.
So just because you sold two properties in one month and earned fat commissions is not going to waste your money. Quite the opposite. Try to invest the money that is left over in funds that earn above inflation so that your resources do not lose purchasing power over time. It is also interesting to invest in products that have liquidity, that is, that you can sell and make money quickly.
As for the professional financial reserve, try to invest in marketing tools and actions that bring a good return in the medium term.
Investing in software can help your business
When we talk about financial planning for a realtor, it doesn’t mean just cutting down on expenses. It also implies knowing how to invest part of your resources. By hiring the vile Imo platform, for example, you can boost the sales of your properties and, consequently, earn more money.
You might already know that a realtor who doesn’t have a real estate website has little chance of surviving in the market, since most real estate searches start on the internet. With vile Imo, you build your own website and even have a mobile version of it, which provides a good experience for users who access the internet from smartphones and tablets.
But not only that. To sell real estate, your ads need to be highly visible. Enter the social integration and portal integration tools of vile Imo. With them, you can advertise your properties on the main social networks and on the largest real estate portals in the country.
Automating tasks is synonymous with savings
In an attempt to optimize task time and streamline operating costs, you can turn to
ville Target, a marketing automation tool. Thus, you segment your contact base and schedule email marketing to your customers. All this in a very intuitive way.
Finally, although they are more expensive, it is worth investing in more modern equipment in your office as they save more energy. In other words, it is an investment that pays off in the medium and long term.
By boosting your sales and being more aware of your expenses, you are closer to achieving your financial independence.