![]() ![]() Who is your prospective client? What makes you different and what is your client looking for? When are they typically looking to buy or sell their property? How do they typically start their search or process of selling their home? Questions like these will help shape your detailed business description to answer questions that you might not think about at first. The description will highlight the opportunity and how you plan to make the most of it, while answering ‘who, what, when, where, how, and why’. This is the detailed business description of your plan, where you tell what inspired you to get involved in real estate. If you’ve ever seen the show, “Shark Tank,” you’d be familiar with how the business owner stands in front of the investors and shares their story about why they should invest in their product. Given 30 seconds, or the amount of time you were in an elevator with someone, how would you describe your ability to be profitable in real estate? Write a Detailed Business Description In many ways, consider this your elevator pitch. If there are any competitive assessments, those are also important to note here. It should identify who your potential clients are, the areas you plan to focus on, and any potential sales opportunities (for example, the average house in this area is $450k). The executive summary of a real estate business plan establishes your hopes and dreams, a broad overview of how you plan to accomplish them, and highlights from the research used to support your decisions. ![]()
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