Types of Businesses

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Types of Businesses by Mind Map: Types of Businesses

1. MREA

1.1. Lead with Listings

1.2. Major Goal

1.2.1. Manage Seller's Expectations

1.2.2. Regular Updates

1.2.2.1. Showings

1.2.2.2. Pricing Comments

1.2.2.3. Marketing

1.3. Major Expenses

1.3.1. Payroll

1.3.2. Marketing

1.3.2.1. Print and Online

1.4. Hiring

1.4.1. First Hire

1.4.1.1. Assistant

1.4.2. Follow-on

1.4.2.1. Buyer's Agent(s)

1.5. Financial Splits with Agents

1.5.1. 50 / 50

1.5.1.1. Use MREA as Supporting Information

1.5.2. $200,000 Average Price

2. Math

2.1. First 30 - 45 Days

2.1.1. 1 Lead / Day

2.1.1.1. Get them to 50 leads

2.1.2. 1 lead every other day

3. Internet

3.1. SEO

3.1.1. Hiring

3.1.1.1. First Hire

3.1.1.1.1. Content / SEO

3.1.1.2. Follow-on Hires

3.1.1.2.1. Buyer(s) Agents

3.1.1.2.2. Transaction Coordinator

3.1.1.2.3. Listing Specialist

3.1.1.2.4. Sales Manager

3.1.1.2.5. Additional Support as Needed

3.1.2. Generally Buyer Focused

3.1.3. Supplement with PPC

3.2. PPC / Third Party Lead Aggregator

3.2.1. Critical Factor

3.2.1.1. Hold Buyer's Agent(s) Accountable to Leads Generated

3.2.1.1.1. Make the difference between making money and losing money

3.2.1.1.2. Insist on a minimum of 5% Closing Rate

3.2.1.1.3. Have a follow-up system that you can monitor

3.2.1.1.4. Follow-up Workshops

3.2.1.2. Know your per lead generation cost

3.2.1.2.1. Generally should be under $20/lead

3.2.2. First Hire

3.2.2.1. Buyer's Agent(s)

3.2.3. Follow on Hires

3.2.3.1. Transaction Coordinator

3.2.3.1.1. Quasi Sales Manager

3.2.3.2. Buyer's Agent(s)

3.2.3.3. Listing Specialist

3.2.3.4. Sales Manager

3.2.3.5. Additional Support as needed

4. Investor Representation

4.1. Assumptions

5. Bank Representation

5.1. Assumptions

5.1.1. Heavy on Support

5.1.1.1. Assistants

5.2. First Hire

5.2.1. Licensed / Unlicensed Assistant

5.3. Critical Factor

5.3.1. Bank Communication

5.3.2. Metrics

5.3.2.1. Speed to Sale

6. Assumptions

6.1. Massive Lead Generation

6.2. Good Producer

6.3. Strong Personal Work Ethic

6.4. Solid Website with IDX and Backend

6.4.1. Real Geeks

6.5. Good Communication Infrastructure for Team

6.5.1. Voxer

6.5.2. Google Apps

6.5.3. IRL or Cloud-office

6.6. Accountability Infrastructure

6.6.1. Key to success

6.6.1.1. You need to be accountable to your team

6.6.1.2. Your team needs to be accountable to you

6.7. Have some sort of Lead Addendum