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NAR Power Broker Roundtable: Business Planning 2014 – Getting It Right

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Tracy Kasper: Yes, we plan to put a few more dollars into expanding our public profile next year. We want to be able to say “yes” to more local sponsorship. Like having well-trained agents, it’s a great way to connect with potential customers. We see it as another line item with potentially excellent ROI.

Jeff Barnett: If I’m hearing you right, it sounds as if you are all already deep into planning mode. Any other juicy little nuggets for those coming late to the party?

Greg Zadel: Again, putting your finger to the wind is important in business planning. Who will your customers be? For quite a while, construction in our area had pretty much ground to a halt. In today’s environment, we expect new construction sales to be a significant part of our business. We’ve been actively touring new construction projects in preparation for that.

Christine Dwiggins: We will take a hard look at revenue. As we tote up our volume for the current year, we will factor in how higher commissions would boost the bottom line – in much the same way that a service person ups his income by increasing the hourly rate. A half-percent increase per listing, for example, would make a substantial difference.

Tracy Kasper: And the time is right to ramp up your marketing if you’re going to capture new business. In our case, we will make a concerted effort to be conservatively proactive. And I try to remind myself that we don’t necessarily need to make major changes. Small changes to a lot of little areas can bump up the bottom line.

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