Missouri Association of REALTORS

1. Business Planning
2010 & Beyond!
Corky Hyatt, CRB, CRS, GRI & John Mayfield, ABR, CRB, ePro
Missouri Association of REALTORS®
© 2010, Corky Hyatt, CRB, CRS, GRI & John Mayfield, ABR, CRB, GRI. For use only by MAR GRI Participant REALTORS®

2. Meet Corky Hyatt
•Coach, Educator, & Instructor since
1988
•REALTOR since 1978 with more
than 75 sales a year before turning
her attention to full-time training
•Broker in both KS and MO
•CRB, CRS, and GRI designations
•REALTOR of the Year, 1990,
Johnson County Board of
REALTORS
•WCR Governor, 2002 & CRS State
Pres., 2004; KS CRS of Year, 2001
•Distinguished Service Award,
Kansas Association of REALTORS®,
2007
© 2010, Corky Hyatt, CRB, CRS, GRI & John Mayfield, ABR, CRB, GRI. For use only by MAR GRI Participant REALTORS®

3. Meet John Mayfield
•Received his real estate license at the age of 18
in 1978
•One of the first sales associates in his board of
REALTORS® to reach the Missouri Association
of REALTORS® Million Dollar Club…interest
rates were record highs and ASP $25,000.
•Practicing broker since 1981 and he owned
and operated three offices in Southeast
Missouri, and managed over 30 real estate
agents.
•ABR®, ABRM, GRI, CRB and e-PRO®
designations
•CRB Instructor and Senior GRI Instructor
•Published author & national speaker!

4. “It is
impossible to
predict the
future.
Being caught
off guard is
just foolish.
Why would
you fight the
future?
The future is
coming, no
matter what.”

5. • What are my
numbers?
• Units closed this year?
 Annual increase in the
past 3 years?
• Average Commission?
• My average listing
inventory
 Seller inventory
 Listings sold/year?
 Percentage of listings
taken/listings sold?
Where Am
I Now?
© 2010, Corky Hyatt, CRB, CRS, GRI & John Mayfield, ABR, CRB, GRI. For use only by MAR GRI Participant REALTORS®

6. Sources of Business?
• Whom do I prospect for seller listings, buyer
clients?
• How many contacts do I make a day?
• Am I still mailing instead of contacting? (thro
$ at the business?)
• How many property or buyer listings do I tak
each month?
• How many contacts (How many presentation
does it take to sign a seller or buyer listing
contract?
• What’s my GCI? What’s my annual expense %?
What’s my profit %?
© 2010, Corky Hyatt, CRB, CRS, GRI & John Mayfield, ABR, CRB, GRI. For use only by MAR GRI Participant REALTORS®

7. What’s My
Bottom Line?
• GCI? (Gross Commission Income)
• Expense % (gross profit before taxes)
• Profit? (gross profit before taxes)
• Am I pleased with my
numbers?
© 2010, Corky Hyatt, CRB, CRS, GRI & John Mayfield, ABR, CRB, GRI. For use only by MAR GRI Participant REALTORS®

8. Numbers eExercise
• Units not volume – duplicatable! (Sides=best)
• Low number of personal contacts with
– COI, PC’s (past customers), Raving Fans
• Number in your COI (too many or too few?)
– Ideal number=250 so that you can contact them 6X/year
(250X6=1500/50 weeks/5 days = 6/day!
• Few using business plan
• Virtually none using business budget!
– Thought question: How can we be in business without a
business budget?
• Email signatures: It’s feast or famine!
© 2010, Corky Hyatt, CRB, CRS, GRI & John Mayfield, ABR, CRB, GRI. For use only by MAR GRI Participant REALTORS®

9. S.
W.
O.
T.
• Strengths
• Weaknesses
• Opportunities
• Threats

10. My Strengths
What are my business advantages? What are my core competencies?
Where am I making the most money? What am I doing well?
My Weaknesses
What am I avoiding? Where do I lack resources? What am I doing poorly?
Where am I losing money? What needs improvement?
My Opportunities
Any beneficial trends? Niches that competitors are missing? New technologies? What
the new needs of customers and clients? What opportunities do I see that are not
described here? How am I using “social networking” to build my business? Ability to
communicate with all personality types?
Ability to work with all Generations?
Threats
Obstacles to overcome? Aggressive & successful competitors?
Negative economic conditions? New brokerage models and alternative pricing models?
Government regulation? Changing business climate? Vulnerabilities?
What threats do I see that are not mentioned here? Inability to work with other
personality styles? Inability to work with the other generations?
© 2010, Corky Hyatt, CRB, CRS, GRI & John Mayfield, ABR, CRB, GRI. For use only by MAR GRI Participant REALTORS®

11. SWOT… How will I …?
• Maximize my best “S” [strength] and “sell” it to
consumers?
• Overcome my greatest “W” [weakness] and what
specific action will I take NOW to overcome it?
• How will I take best advantage of my greatest “O”
[opportunity] in the next 90 days?
• How will I specifically deal with my greatest “T” [threat]
in 2008? How will I address each of the “outside”
threats/issues in my business planning?
© 2010, Corky Hyatt, CRB, CRS, GRI & John Mayfield, ABR, CRB, GRI. For use only by MAR GRI Participant REALTORS®

12. • Mission
• Vision
• Values & Beliefs
• Goals
• Strategies
• Action steps
• Evaluation
• Refinement &
Redirection
It’s Not Magic!
© 2010, Corky Hyatt, CRB, CRS, GRI & John Mayfield, ABR, CRB, GRI. For use only by MAR GRI Participant REALTORS®

13. Mission
Statement
Ralph Roberts
Mission:
•Customer Focus
•Personal Growth
•Leadership
•Team Concept
•Profitability

14. Mission Statement Ideas
• “To maintain the high standards exemplified in the NAR Code of Ethics”
• “To attain a high level of expertise in the most up-to-date information,
techniques, technology, and tools for marketing properties and for home-
finding services.”
• “To promote the availability and affordability of housing.”
• “To build personal financial independence, growth, and stability through
serving the wants and needs of motivated, qualified sellers and buyers.”
• “We will give the same level of care and attention in the sale or purchase of
your home that we would use in buying or selling our own home.”
• “Our goal is to make lifelong clients, not sales. We stake our reputation on
each and every transaction!”
• “We provide customer-centered service to exceed our clients’ real estate
expectations.”
© 2010, Corky Hyatt, CRB, CRS, GRI & John Mayfield, ABR, CRB, GRI. For use only by MAR GRI Participant REALTORS®

16. View from the Top?
Your “vision”
is a vivid,
5-sense
description of
your business
when you’ve
accomplished
your goals!
© 2010, Corky Hyatt, CRB, CRS, GRI & John Mayfield, ABR, CRB, GRI. For use only by MAR GRI Participant REALTORS®

17. Vision Examples!
• My past customers call me whenever they hear of someone wanting to
buy, sell, or trade real estate.
• My email contacts forward my emails to their centers of influence because
they find them so valuable.
• I use state-of-the-art technology, especially my computer systems.
• My past customers and center of influence use my web site to find
everything they need to know about real estate, housing, and related
fields.
• Agents copy my email stationery ideas and web site ideas because I’m
leading the field!
• My office functions beautifully, my workspace models organization and
systematization, and I can find information and documents quickly.
© 2010, Corky Hyatt, CRB, CRS, GRI & John Mayfield, ABR, CRB, GRI. For use only by MAR GRI Participant REALTORS®

18. More Vision Examples!
• My car, while fully outfitted for business, squeaks of
cleanliness, smells fresh, & provides a comfortable place to
work for me & to see properties for my clients.
• Prospects ringing my phones, happy voices, and appreciative
smiles surround me daily!
• My real estate “team” and I provide the best information,
service, and support available in my market area.
• My wardrobe and business equipment/accessories speak of
quality and success.
• I’m known for being an excellent listener and for focusing on
the needs and desires of my exclusive clients.
© 2010, Corky Hyatt, CRB, CRS, GRI & John Mayfield, ABR, CRB, GRI. For use only by MAR GRI Participant REALTORS®

19. Differentiation?
The opposite of
differentiation is to
blend in & “bland out!”

20. • Tom Peters, world-
renowned lecturer
& author, has a
seminar entitled
"Be Distinct
or
Be Extinct!”
TomPeters

21. Don’t Become Extinct!
© 2010, Corky Hyatt, CRB, CRS, GRI & John Mayfield, ABR, CRB, GRI. For use only by MAR GRI Participant REALTORS®

23. High D’s (Dominance)
Results, control oriented
Direct
Impatient, strong-willed
Quick
Takes Action
Hi I’s (Influence)
People-oriented
Optimistic
Recognition-seeking
Expressive & outgoing
Enthusiastic, energizing
Hi S’s (Steadiness)
Stable, predictable
Deliberate
Consistent
Good listener
Sympathetic
Hi C’s (Conscientious)
Analytical
Accurate and orderly
Deliberate
Correct & quality oriented
Systematic
Planners© 2010, Corky Hyatt, CRB, CRS, GRI & John Mayfield, ABR, CRB, GRI. For use only by MAR GRI Participant REALTORS®

24. Generation Impacts Attitudes Communicat’n
Style
Technology
Preferences
Silent
Generation
(1922-43)
Depression
WWII
Duty, Honor,
Hard Work,
Respect for
rules
Formal
communication
styles
Telephone; Some
use computers-
more comfortable
with written
letters
Baby
Boomers
(1943-60)
Era
of Safety,
Prosperity
Rebelled aga.
“hollow”
society
Personal
growth,
achievement,
political
correctness
Learned
computers
prefer
conversation,
esp. telephone
Gen X
(1960-80)
Social value
upheavals
Tough,
pragmatic,
individualistic
Adaptive,
balanced, comf.
with casual
communication
Emailers,
Net = source
of information
Gen Y
(1980-
2000)
Global
political
unrest; tech
since birth!
Grew up in
diverse &
multicultural
society; ‘02
Census = 37.6%
Tech since
birth! Family &
group centered;
Talk cell not in
person!
Cell Phone-
centric! Texting,
IM, cell
applications &
net thru cell

25. …when a client truly believes nobody else
can do the job the way you can do it, price
is no longer an issue!
© 2010, Corky Hyatt, CRB, CRS, GRI & John Mayfield, ABR, CRB, GRI. For use only by MAR GRI Participant REALTORS®

26. Questions - Structure & Organization!
In which legal identity do I choose to work?
Sole proprietor, partner, S or C Corp, or LLC?
Which “role” do I choose to play with prospects and
clients? Salesperson or consultant?
Which organizational structure do I choose for my
business? Agent alone, computerized; Clerical staff;
buyer agents; seller agents; CEO
In which areas of my business do I need additional
systems & check-listing?
What is my “exit strategy” &
what am I doing to put it in place today?
© 2010, Corky Hyatt, CRB, CRS, GRI & John Mayfield, ABR, CRB, GRI. For use only by MAR GRI Participant REALTORS®