Blog > 8 steps to creating a real estate business plan (+ free template)

8 steps to creating a real estate business plan (+ free template)

by Gina Baker

After teaching thousands of agents how to build a real estate business plan, I’ve seen one result consistently. The agents who put in the work and plan ahead are the ones who stay in business. Your notebook full of random thoughts jotted down isn’t going to cut it. You have to create a roadmap that reflects where you are now and where you want to go. A business plan provides an agent direction to make better decisions, use your time more intentionally and grow through purpose.

We’ll walk through each part of the real estate business planning process step by step, from defining your mission to setting financial goals and everything in between. To make it even easier, we’ve included a free downloadable real estate business plan template you can start using today. Let’s work together to build a plan of action that actually works.

Page one sample of the Vetted business plan template.

Download our business plan template

Why a real estate business plan is important

You wouldn’t build a house without a blueprint, so why run your business without one? A real estate business plan isn’t just something you create once and forget about. It’s a living document that helps you make smart decisions, stay focused on what matters and grow intentionally.

Without a plan, it’s easy to fall into a cycle of chasing whatever’s in front of you – including leads, listings, transactions – without ever stopping to ask whether it’s actually moving you closer to your goals. A good business plan will give you that clarity. It defines your “why,” outlines your ideal clients, sets measurable goals and helps you track your financial progress. And when the market shifts? Your plan helps you pivot without losing momentum.

The agents who consistently hit their goals aren’t just working harder, they’re working with intention. That’s how a well-drafted business plan delivers tangible results.

Step 1: Write your mission statement

Your mission statement is the foundation of your real estate business plan. It answers the tough questions: Why do you do this work? Who do you serve? What kind of experience do you want to deliver? It doesn’t have to be long or complicated, but it should feel true to who you are and help guide your future decisions.

A strong mission statement keeps you grounded when things get busy or uncertain. It should be a statement that will remind you what you’re building and why it matters. If you’re leading a team or brokerage, your mission statement also sets the tone for your culture and client experience for every agent.

Here are a few example real estate business mission statements:

“I help first-time buyers in Charlotte navigate the home buying process with confidence and clarity.”
“I serve growing families in Houston by helping them upsize into homes that match their lifestyle and future goals.”
“I help busy professionals in Denver invest in real estate without the guesswork.”

Take a few minutes to write yours. It should feel like something you’d say out loud, not filled with fluff, but show a clear understanding of who you are and what you’re about.

Pro TIp

If you get stuck, try filling in the blanks: “I help [type of client] in [location or niche] achieve [outcome] by providing [your unique value or service].”

Step 2: Identify your target market

If you’re trying to work with everyone, you’ll end up connecting with no one. I’ve seen it time and again – agents spinning their wheels because they haven’t gotten specific about who they actually want to work with. When you narrow your focus, everything else will fall into place. Your marketing will make more sense, your messaging will be clear, and the work you’re doing will feel a whole lot more rewarding.

Think about the type of people you want to work with and ask yourself:

Who have you helped in the past that made you think, “I wish every client were like this”?
What kind of properties do I know well?
Are there any specific neighborhoods or types of people that you connect with naturally?

Maybe it’s first-time homebuyers, retirees or busy professionals who just want someone to handle every aspect of the process. While you don’t have to turn people away, it’s important to know your ideal client so that you can attract more of the right ones. That’s how you’ll learn to grow with purpose.

Step 3: Conduct a SWOT analysis

The SWOT (strengths, weaknesses, opportunities, threats) analysis is where the real work begins. Before you dive into setting real estate business goals or marketing strategies, you have to take an honest look at where your business stands. Consider what’s working well, what’s not and where you have room to grow. So now’s the time to grab that notebook, or notes app, and start jotting things down. Don’t overthink it, just write down what comes to mind and answer the questions honestly.

Strengths Your strengths are the foundation of your business. These are the things that you are already doing well and where you want to double down.	Weaknesses Let’s be honest. Nobody loves talking about their weak spots, but ignoring them won’t help you grow. The goal here isn’t to beat yourself up; it’s just to get honest about what’s not clicking so you can start making changes.
What do I consistently do well? What do clients compliment me on? Where do most of my deals come from? What parts of my business feel the most natural to me?	What keeps slipping through the cracks, no matter how hard I try? What do I put off because I dread doing it? Where do I feel like I’m guessing instead of knowing? Do I have the right tools—or am I just piecing things together as I go?
Opportunities Opportunities are everywhere, you just have to be looking for them. These can span from trends in the market, new marketing channels or a different type of client base.	Threats Threats are those outside forces that could slow you down or pull focus if you’re not paying attention. You can’t control all of them, but being aware helps you plan around them.
Where could you grow if you gave it some attention? Is there a niche you’ve been curious to explore? Is there a new tool or platform you’ve been wanting to try? Are there any untapped neighborhoods you could farm?	What external factors could throw you off course? Has competition increased in my area? Have there been any dramatic shifts in market conditions? Am I relying too much on one lead source or marketing channel?

You’ll be surprised how much clarity you get once it’s on paper. Take what you’ve written and drop it right into the SWOT section of your business plan. These notes are the first step in turning your reflections into an actionable strategy.

Step 4: Set SMART goals

This is the part of where your real estate business plan starts taking shape. A goal like “sell more houses” or “make more money” might feel motivating in the moment, but it won’t help you stay focused or measure progress. That’s where SMART goals come in – goals you can actually track and accomplish. SMART stands for goals that are specific, measurable, achievable, relevant and time-bound.

When your goals check all those boxes, you’re way more likely to stay consistent and actually follow through. They also give you a way to track what’s working and adjust when something’s off.

Instead of creating generic goal statements, try the SMART method:

Specific: I want to close 24 transactions this year.

Measurable: That’s 2 per month at an average sales price of $450,000 and average commission rate of 2.5%.

Achievable: Based on last year’s numbers and market trends.

Relevant: I’m focused on buyers relocating to the area.

Time-bound: I’ll track progress monthly and adjust my marketing if I fall behind.

You don’t need dozens of goals. Start with one or two that truly matter to you, then build your strategy around hitting them. That’s how you turn vague goals into real, measurable success stories.

Step 5: Build your marketing plan

Your marketing plan is how you get in front of the right people at the right time. And no, it doesn’t have to mean being on every platform or spending a fortune on marketing ads. It’s about choosing a few methods that align with your strengths and your target market, then showing up consistently.

Start by asking yourself:

Where are my ideal clients spending their time?
What platforms or strategies have already worked for me?
Do I have the time and tools to show up there regularly?
Which marketing platforms will I enjoy working on every day?

If you’re great on camera, consider creating short Instagram reels or TikTok videos. If you’re more relationship-driven, it might be better to create a monthly newsletter or send out handwritten cards. Any marketing channel can work, but not all at once. Pick two or three channels you are good at using and then commit to and build a simple schedule around them.

Pro Tip

The best marketing plan is one you’ll actually stick to. Keep it realistic, track what’s working, and don’t be afraid to tweak as you go.

Step 6: Create a lead generation plan

Good marketing builds brand awareness, while lead generation brings in new business. They go hand in hand, but your lead generation plan is where your hard work starts turning into appointments, conversations and closings. The key is consistency and follow-up.

Start with the lead generation channels that are already working.

Where are most of your leads coming from right now?
Are you following up with them regularly or letting them fall through the cracks?
Do you have a system for tracking where leads are in the process that makes it easy to follow up?

As with marketing channels, you don’t need a ton of different lead sources. You just need a few you can manage well to maximize conversion. Maybe it’s open houses, working your sphere or paid leads, but whatever it is, map out how you’re going to stay in touch. The agents who convert the most leads don’t get the most leads, they’re the ones who actually follow up with the leads they have.

Market Leader dashboard on tablet and mobile devices. — Intuitive lead tracking dashboard (Source: Market Leader)

If you don’t already have a good CRM, you need to get one. I’ve seen too many agents lose deals simply because they couldn’t keep track of who to follow up with and when. Market Leader is a great option because it keeps all your leads, conversations and follow-up tasks in one place. You can see exactly where each contact is in the process and get reminders so no one slips through the cracks. It’s a whole lot easier to convert leads when you’re not trying to remember everything in your head.

Visit Market Leader

Step 7: Set your financial goals

Now, let’s talk numbers. This is where a lot of agents either get overwhelmed or decide to leave it out. Knowing your financial goals is what ties your entire business plan together. Most agents aren’t doing this just for fun. This is your career and that means knowing the number you need to hit to stay in business. Be honest about what that number is, but keep it realistic based on where you are right now and what stage of your career you’re in.

Start with your income goal for the year, then work backward:

How many closings will it take to hit that number?
What’s your average commission per transaction?
How much do you need to set aside for expenses, taxes and savings?

Be honest about what you’re spending and be sure to adjust for what you’re looking to spend in the future. Look at your monthly and yearly business expenses – your MLS fees, marketing, software, tools, continuing education – and factor that into your goal. You’re building a business, not just chasing checks. Treating your income like a business owner is how you stay profitable and build something sustainable.

Step 8: Evaluate and adjust your business plan

Your business plan isn’t meant to live in a drawer. It should evolve with you and your real estate business. Markets shift, goals change and sometimes what should work just doesn’t. That’s completely normal. What matters most is that you take time to check in on your progress, make adjustments and keep moving towards your goals.

Build in regular checkpoints, whether that’s monthly, quarterly or even just twice a year. Personally, I recommend a quarterly cadence where you look at what’s working and what’s falling flat.

Ask yourself:

Am I on track to hit my goals?
What’s driving results right now, and what’s not worth the energy?
Has anything changed in my market, personal life or focus that needs to be reflected in my plan?

You don’t have to scrap the whole thing every time something shifts. Sometimes it’s a small tweak that keeps you aligned. A flexible business plan is a sustainable one. That’s what keeps you in this business and growing for years to come.

Tips for writing a clear, concise real estate business plan

A good business plan doesn’t need to be 30 pages long and full of corporate jargon. It just needs to be clear, personal and something you’ll actually use and understand. It’s perfectly acceptable to keep it simple, especially if you’re a solo agent.

Here are a few tips to keep in mind:

Write it for you. This isn’t something you’re turning in or presenting to anyone. It’s your roadmap, so make it real, make it honest and write it the way you talk.
Stick to the essentials. Focus on the areas that move the needle, like mission, goals, marketing, lead generation and finances.
Keep it visible. Whether it’s a Google Doc or a printed page, keep your plan somewhere you’ll see it. The more you interact with it, the more useful it becomes.
Use a template if it helps. If structure isn’t one of your strengths, there’s no shame in starting with a template and customizing from there.

The goal isn’t to make this a perfect plan, it’s to bring clarity to your business and have a tangible goal to work towards. You want a real estate business plan that keeps you focused, helps you make better decisions and gives you something to check back in with as your business grows.

Real estate business plan: FAQs

How do I create a real estate business plan?

Start simple. Think about what you want your business to look like, who you want to work with and how you’re going to get there. From there, write out your mission, define your target market, set some clear goals and map out your approach to marketing, lead generation, and finances.

You don’t need a fancy format, just something that is real and usable. And if it helps, use a template to stay organized. As a matter of fact, we’ve got one for you in this guide (click here to go to the template).

How much money do you need to start a real estate business?

I’ll be honest, getting started in real estate isn’t cheap. You’ll need a few thousand dollars just to cover the basics, which include your license, brokerage joining fees, MLS access, board dues, some marketing and a few tools to help you stay organized if your brokerage doesn’t cover them for you.

If you’re jumping in full-time, you’ll want to consider how long it will take before you start making money. It might be a couple of months before you get that first closing check. I recommend having at least six months living expenses in savings before going all in. The main thing is to know your numbers before you get too far in so you’re not scrambling for cash later.

Can you make over $100,000 as an agent?

Yes, you can. Just don’t expect it to happen overnight. Being a real estate agent isn’t quite as easy as they make it look on television. The agents I know who make six figures year after year didn’t get there by luck. They’ve got a solid real estate business plan, they stay focused and they follow up like it’s their job – because it is – year after year. If you treat this like a real business, $100K is absolutely within reach.

The full picture: Real estate business plan

At the end of the day, your business plan isn’t about checking a box on a to-do list. It’s about giving yourself a clear, actionable strategy to build the career you actually want. It doesn’t have to be a formal document and it doesn’t need to impress anyone. It just needs to reflect who you are, your goals and strengths, your clients and the life you’re trying to build.

The agents who succeed long term don’t just wing it. They make time to check in with their goals, adjust when needed and stay honest about what’s working – and what’s not. If you’ve been putting this off, let this be your sign to start now. A simple plan is better than none at all. Once you put it on paper, you’ll be surprised how much clearer everything gets and how quickly you’ll start to see results.

Lauren Antoinette Petty

Agent | License ID: 800232

+1(210) 275-3666 | lauren@laurenapettyrealtor.com