One aspect of business that often gets overlooked in the hustle and bustle of the holidays is finances. The end of the year traditionally marks the time we reflect on our accomplishments, tally the number of transactions and commissions from the year, and start setting goals for the new year. But when was the last time you did a deeper examination of your financial well-being?
Did you meet your revenue goals for the year? Have you earmarked enough funds for retirement, taxes and other financial obligations? Are you wanting to expand your team or outsource tasks in the near future? What about investments?
The reality is that success in real estate isn’t solely about property transactions; it’s also about financial literacy and consistent business planning. To truly thrive, it’s imperative to understand your finances, set concrete goals, plan for the future and regularly align your financial goals with your overarching business objectives. Here are some useful tools and resources that can help:
For comprehensive financial assessment and planning tools, explore NAR’s Center for REALTOR® Financial Wellness. This is a treasure trove of resources designed to help real estate professionals navigate the complexities of personal finance, savings, investments and retirement planning. Whether you’re a seasoned agent or just starting, the center offers valuable budgeting tools, retirement planning resources, insights into real estate investing strategies and a number of educational webinars. You’ll also be able to run different projections and practice financial planning decisions in a risk-free and secure way. This complimentary program is an exclusive benefit of your NAR membership. To get started, visit FinancialWellness.realtor.
To develop a new service niche and learn more about investing, register for CRD’s recently revamped Real Estate Investing course. If one of your business goals is to grow your bottom line by developing a new specialty or diversifying your revenue streams, consider CRD’s “Real Estate Investing: Build Wealth Representing Investors and Becoming One Yourself” course. In it, you will learn how to effectively serve investor clients and decide if real estate investing is something you want to pursue. Register online or search for a live classroom course.
Get strategies and insights into business planning through CRD’s on-demand microcourses and podcast. There are several microcourses that tackle topics related to business planning and investing. These 10-minute courses are perfectly designed to fit into your busy schedule, delivering practical knowledge and actionable tips. Additionally, each year, the Center for REALTOR® Development Podcast dedicates episodes specifically to business planning. Access past episodes and be sure to subscribe to get notified when new episodes come out.
By tapping into these resources and others, you’ll have the knowledge and tools needed to secure your financial future and set the stage for a prosperous year ahead.
For more information, visit https://crd.realtor/.