To help you determine your target audience and farm area, select the ZIP codes you would like to work in, and then research public record data on home value increases and decreases in this area, as well as the number of homes that have been taken off the market, and the number of homes that have been bought or sold.
Begin by choosing three to five ZIP codes on which you would like to focus.
Here are the nine steps to writing a successful real estate business plan.
A market assessment summarizes the financial, cultural, and demographic factors that affect buying and selling real estate in a given area.
Review area laws and regulations to see how these might affect your findings.
These are the market overview questions to consider for your real estate business plan: It’s also recommended that you complete a thorough comparative market analysis (CMA) to gather in-depth information about market trends.
Over the past five years, the condo market in New Orleans has increased steadily due to the number of retirees entering the area.
In southeast Louisiana, first-time homebuyers buying houses valued at less than 0,000 are decreasing.
Once you have collected the information above and completed a CMA, summarize your findings in three to five sentences.
Use the example below as a guide; it includes location, demographic, financial, and general market information.