Reed Properties

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Real Estate Broker Business Plan

Strategy and Implementation Summary

Reed Properties will focus on the first-time home buyers who live in the Richmond Metro area.

5.1 Competitive Edge

Reed Properties' competitive edge is Claudia who will be the most visible realtor to first-time home buyers in the Richmond Metro area. Claudia will have a weekly radio program and lecture weekly to the area's numerous neighborhood councils and civic groups. 

Most importantly, Claudia has contacts in the local civic groups that are driving the redevelopment of the Richmond Metro area.  Referrals from these contacts alone will create all the leads Claudia needs to succeed.

5.2 Marketing Strategy

Traditional marketing techniques will not work with the residents of the Richmond Metro area. Cultural and language barriers create suspicions of a home-buying process that is confusing and inaccessible. Building relationships with the community is a crucial first step in reducing anxiety in the home-buying process. Reed Properties will build relationships that will lead to referrals and business success.

5.3 Sales Forecast

The following table and chart give a run-down on forecasted sales. We expect sales to build between January-March with the most growth during the months of March through August. We expect sales to drop off from September till the end of the year.

Sales Forecast
Year 1 Year 2 Year 3
New homebuyers $83,000 $90,000 $100,000
Other homebuyers $0 $40,000 $60,000
Total Sales $83,000 $130,000 $160,000
Direct Cost of Sales Year 1 Year 2 Year 3
New homebuyers $4,150 $4,500 $5,000
Other homebuyers $0 $2,000 $3,000
Subtotal Direct Cost of Sales $4,150 $6,500 $8,000