O'FALLON, IL -- (Marketwired) -- 11/03/15 -- Bob Corcoran, founder of Corcoran Consulting and Coaching, outlines "Developing Multiple Pillars of Business," which is one of the topics he will lead at the company's upcoming 2015 Leadership Summit in New Orleans, December 9-11.
Bob Corcoran is one of the industry's leading consultants and coaches whose clients include 71 of the Top 250 real estate professionals in the country, with a total of 94 awards, according to the Wall Street Journal (WSJ) and REAL Trends 2015 report based on Team Volume and Team Units.
Corcoran is a proponent of what he calls the "pillars of business" in real estate, meaning that agents need to have a minimum of three pillars in their business: traditional, short sale and REO.
Here are some ways to add some "legs" or "pillars" to diversify your business:
1. Real estate owned (REO) properties are still very much in play. Many agents who've ventured beyond traditional real estate and added REO or short sales to their toolbox have indeed dominated their markets.
2. Also, consider including property management and new construction. No doubt about it, property management can be (and often is) a cash cow for many agents (not to mention a steady flow of potential buyers at your fingertips!)
3. Think about getting your buyer's agent and green designations from National Association of Realtors (NAR). To find out more about the buyer's agent designation, go to http://www.realtor.org/edmatrix.nsf/0/97a6e68d6f01f7c886256e1900627199 and here is the green designation link on the NAR web site: http://greenresourcecouncil.org/earning-nars-green-designation/what-nars-green-designation.
4. Another market sure to grow even more is seniors so think about adding the Seniors Real Estate Specialist certification. Go here on the NAR web site to find out more: http://www.realtor.org/designations-and-certifications/sres
Now, Corcoran says take a deep and long look at your current business plan and determine how much business you can handle in each of the above pillars of your business. The items you need to review in each department are:
- Personnel required to handle the file from listing agreement to close
- Personnel required to do field services
- Reserves required to pay for utilities, preservation, relocation assistance and monthly services
"Every successful company is built on pillars of business. In real estate your company can and should have streams of revenue such as traditional sales, short sales, REO and property management. By developing all of your revenue streams, you will be able to thrive in any market. By implementing your revenue streams and building a strong organization by holding yourself and your team accountable to your pillars, you will be successful!" concludes Corcoran.
To find out more about the 2015 Leadership Summit in New Orleans from December 9-11, please go to https://www.corcorancoaching.com/event-calendars/events/events/view/88
About Corcoran Consulting & Coaching
Corcoran Consulting & Coaching is an international consulting and coaching company that specializes in performance coaching and the implementation of sound business systems into Real Estate Companies, Mortgage Companies and Small Businesses. Corcoran Consulting is headed by Bob Corcoran -- a nationally recognized leader, speaker, author, coach and consultant. To find out more about Corcoran Consulting & Coaching, call 1-800-957-8353 or visit us at www.CorcoranCoaching.com.
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