Fundamentals in Real Estate Series Part 7 Sales Associate Personal Finances
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FUNDAMENTALS IN REAL ESTATE SERIES PART 7 SALES ASSOCIATE PERSONAL FINANCES Pranav Pandya Franchise Development Manager RE/MAX Mumbai Gujarat Maharashtra
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Mishandling of personal finances is a common cause of Sales Associate failure. These are people that were good at listing, selling, marketing, and technology, but were horrible at handling their personal finances. Oftentimes we hear Sales Associates say that they cannot budget their income and expenses because their income is variable. Actually it is the other way around – it is because their income is variable that they have an absolute need to budget their income and expenses. So the first thing to do when it comes to personal finances is to develop a budget. The only people that can afford not to have a budget are the few people that are so strict with their own personal finances that they always come up spending less than they budgeted for. As mentioned, there are very few people that fall into this category. For the rest of us, budgeting is a mandatory activity.
Transcript of Fundamentals in Real Estate Series Part 7 Sales Associate Personal Finances
FUNDAMENTALS IN REAL ESTATE SERIES PART 7SALES ASSOCIATE PERSONAL FINANCES
Pranav PandyaFranchise Development ManagerRE/MAX Mumbai Gujarat Maharashtra
RE/MAX Mumbai Gujarat Maharashtra
Recap
Part 1 - Getting StartedPart 2 - MarketingPart 3 - ProspectingPart 4 - Working with SellersPart 5 - Working with BuyersPart 6 – Generating Referrals
Today’s Agenda
• Have a budget• Keep your business and personal finances separate• Manage your cash flow• Five finance secrets of successful RE/MAX
agents• 7 Secrets to Winning Over More Buyers• 6 Best Practices for Online Leads
Have a Budget
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RE/MAX Mumbai Gujarat Maharashtra
Categories •Giving back to the community
•Saving and investing
•The RE/MAX fees
•Business expenses
•Personal expenses
•Fun and luxury
Keep your business and personal finances separate
Manage your cash flow
5 Finance Secrets of Successful RE/MAX Sales Associates
RE/MAX Mumbai Gujarat Maharashtra
1. Take charge of your finances. The easiest way to lose control of your business is to lose control of your money.
2. Don’t buy consumer items (cars, clothing, vacations, etc.) on credit.
3. Use credit cards only for convenience,not for carrying debt.
RE/MAX Mumbai Gujarat Maharashtra
4. Live within your means and don’t try to keep up with your co-workers, neighbors, and family members.
5. Invest in real estate. You can make money selling real estate, but you can get rich by buying real estate. Make the specialized knowledge that you have work for you hard
7 SECRETS TO WINNING OVER MORE BUYERS
RE/MAX Mumbai Gujarat Maharashtra
Don’t Be Slow to Respond
RE/MAX Mumbai Gujarat Maharashtra
Be a Savvy Negotiator
RE/MAX Mumbai Gujarat Maharashtra
Don’t Come Across as an Amateur
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Have a Web Presence
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Don’t Dodge a Question
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Follow the 3 E’s
•Educate
•Empathize
•Encourage
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Don’t Pull a Houdini
6 BEST PRACTICES FOR ONLINE LEADS
RE/MAX Mumbai Gujarat Maharashtra
Respond in Kind
RE/MAX Mumbai Gujarat Maharashtra
Don’t Call Them
RE/MAX Mumbai Gujarat Maharashtra
Always Include Your E-mail Signature
RE/MAX Mumbai Gujarat Maharashtra
There’s No Such Thing as Too Fast
RE/MAX Mumbai Gujarat Maharashtra
Keep in Touch, Or Else
RE/MAX Mumbai Gujarat Maharashtra
Treat Online Leads Like Human Beings
RE/MAX Mumbai Gujarat Maharashtra
Thank You
