Real Estate Agents: Know Your Numbers

Real Estate Agents: Know Your Numbers

"If you can't measure it, you can't improve it."

This quote attributed to Peter Drucker is so true, especially for real estate agents. When you became an agent, you might have been told "you're now a business owner" without anyone really telling you what that means. As a new business owner myself, I'm still figuring this out (and I may always be!). But I have learned in short order that new business owners wear a lot of hats, some less exciting than others. Probably the least fun but most critical for most is that of Chief Financial Officer, or CFO.

"But Dan, I LOVE tracking my expenses, organizing my receipts, and paying my taxes!" I hear this exactly zero times every year.

For many of us, money isn't the only reason we've become our own boss, but we couldn't do what we do without it. Further, the more we know about how the money flows in and out of our business, the more effective we become at concentrating our efforts toward what works.

After all, how are we going to know what works? How are YOU tracking it?

Do you know if you should be spending more time knocking doors, planning events, working Zillow leads, or creating mailers? Even if you love your job, you probably want to get to a point where you're making more while working less. So why not do what's most effective and efficient? First, you gotta figure out what that is.

If you know much about me, you know I make lots of spreadsheets to solve problems (or at least to make solving them easier). So I made one to help with this problem. It's one of my simpler ones, but it should put you on the right track.

Here are a couple of screenshots; below them there's a link where you can make your own copy:

If you feel like this is something that could help you, feel free to download it here: link (click/tap).

And no, I don't want your money for this. If you want to support me, just keep coming back. I'm still getting started myself with my own business, so grow with me!

This blog is for educational and informational purposes only. It is not intended to provide specific tax, legal, or financial advice. While I am a licensed CPA, the content here should not be considered a substitute for personalized advice from a qualified professional who is familiar with your unique situation. Any examples or figures used are for illustration only and are not guarantees of future results. Always consult with your own CPA, attorney, or financial advisor before making major financial decisions.