MN Realtor

Business Plan

Table of Contents	Executive Summary
Market Analysis
Marketing Plan
Competitive Analysis
Success Factors
Financial Highlights

Executive Summary

Business Overview

MN Realtor is a newly-licensed real estate agent in St Albans, Victoria. MNs focus of real estate will be centred around St Albans and its surrounding communities. Since obtaining her real estate license last year, Mai has been shadowing another local real estate agent for training purposes and to learn the proper procedures required to follow. Mai will open her own office space in St Albans to commence her real estate business.

Mai realizes the highly competitive nature of the real estate industry and is prepared to dedicate all her time, energy, and focus to make her business successful and eventually represent exclusively luxury properties and clients. Mais initial focus will be on first-home buyers and English second langue speaking buyers and sellers. Since she is also a Vietnamese speaking back ground. She has been through all the stress and worries when she bought her first home. She believes that MN Realtor can appeal to such clients far more than most of competitors.

Product Offering

The following are the services that MN Realtor will provide:

Buyers agent

Sellers agent

First home buyer

Luxury properties

New construction

Property management

Relocation

Rentals

Management Team

Mai will be the sole manager and operator of her business. Mai will be managing her office, network with clients and other industry professionals, and market herself exclusively. She will employ an office manager who will perform the daily administrative tasks that will be required. Also 4 agents who are English second langue speaking to help her achieving the goal.

Organisation Chart

Market Analysis

Industry Analysis

The local property market is considered to be affordable and offers good value for money. The area is popular with families and first time buyers, due to the variety of housing options available and the relatively low cost of living. The market is also growing in popularity with investors, due to the strong rental yield potential.

Customer Analysis

MN Realtor will target those residents residing within Brimbank to become her clients. Mais goal is to eventually represent luxury properties and wealthy clients exclusively, but she is aware that she will need to increase her realtor reputation first by increased experience in the field. For now, she will start small with first home buyers and low to middle income properties, sellers, and buyers.

Population
City of Brimbank - Total persons	2021	2016	Change
Population	Number	%	Greater Melbourne %	Number	%	Greater Melbourne %	2016 to 2021
Estimated Resident Population	196,631			204,190			-7,559
Enumerated Population	194,181			193,449			+732
Usual Resident Population	194,618			194,319			+299

Selected subpopulation categories
City of Brimbank - Total people (Usual residence)	2021	2016	Change
Population group	Number	%	Greater Melbourne %	Number	%	Greater Melbourne %	2016 to 2021
Males	97,491	50.1	49.2	97,239	50.0	49.0	+252
Females	97,124	49.9	50.8	97,079	50.0	51.0	+45
Aboriginal and Torres Strait Islander population	855	0.4	0.7	816	0.4	0.5	+39
Australian citizens	152,193	78.2	81.1	150,152	77.3	79.6	+2,041
Eligible voters (citizens aged 18+)	118,934	61.1	62.2	115,035	59.2	60.8	+3,899
Population over 15	160,871	82.7	81.9	158,458	81.5	81.7	+2,413
Employed Population	82,976	92.1	94.7	80,028	89.6	93.2	+2,948
Overseas visitors (enumerated)	378			1,566			-1,188

Dwellings
City of Brimbank - Households (Enumerated)	2021	2016	Change
Dwellings	Number	%	Greater Melbourne %	Number	%	Greater Melbourne %	2016 to 2021
Total dwellings	71,875	100.0	100.0	69,275	100.0	100.0	+2,600
Occupied private dwellings	67,522	93.9	90.2	64,847	93.6	90.7	+2,675
Population in non-private dwellings	2,035			1,945			+90
Average household size (persons per dwelling)	2.85		2.58	2.95		2.61	-0.11

Marketing Plan

Brand & Value Proposition

MN Realtor will offer the unique value proposition to its clientele:

As a native of Brimbank, she is extremely knowledgeable of the Brimbanks community and its real estate market.

Her analytical skill set allows Mai the ability to compile market data reports and comp set reports for her clients.

Mai has built an extensive network of clients, agents, title officers, appraisers, and mortgage loan officers.

Mai will hustle to get the job done and meet her clients satisfaction.

Promotions Strategy

The promotions strategy for MN Realtor is as follows:

Networking/Prospecting

MN Realtor will be attending all networking industry events and actively networking at non-industry events. She will also be a member of local professional associations where professionals in the real estate industry are a part of. She will be partnering with conveyance, mortgage loan offices to provide the clients as a One Stop Shop.

Print Advertising/Billboard

MN Realtor will invest in professionally designed print ads to display in programs or flyers at industry networking events. She will also invest in two billboards to display in highly trafficked areas of town and/or areas of new-home builds.

Website/SEO Marketing

MN Realtor will utilize the same advertising company that designed her print ads and billboards to also design her website. The website will be well organized, informative, and list all their services that Mai is able to provide. The advertising company will also manage MN Realtors website presence with SEO marketing tactics so that anytime someone types in the Google or Bing search engine Brimbank real estate agent, real estate agent near me, MN Realtor will be listed at the top of the search results.

Social Media

MN Realtor will utilize social media marketing to target those younger, tech savvy buyers and clients who receive most of their information via social media platforms. MN will purchase targeted ads on Facebook, Twitter, and Instagram to display her ads and services. Since a large portion of her clients will be first home buyers, that client profile tends to be younger and utilizes social media more than other demographics.

Pricing

The pricing of MN Realtor will be moderate and on par with competitors so clients feel they receive value when purchasing her services.

Competitive Analysis

MN Realtor will face competition from other real estate agencies in the same area

Barry Plant St Albans - has a dynamic team in Sales and Rentals. Whether you are buying, selling or renting a home, Barry Plant St Albans is at your service.

White Knight estate - Determined to do more for our clients, our company was founded to challenge tough market conditions and the industry stalwarts that dominate the local landscape. Wanting to do more for our clients, we challenge the status quo, delivering bespoke service and intelligent market insights to achieve remarkable outcomes.

YPA - Your Property Agent commenced real estate operations from a single office based in Melbournes west in 2007. It is now a well established franchise network servicing buyers and vendors Australia wide on all their property needs. YPA offices are independently owned and operated by Directors. Our team of Property Consultants receive regular training in current market trends and industry procedures with the clear intention of producing the best possible results from any given situation for our clients.

Success Factors

MN Realtor will be able to achieve success by offering the following competitive advantages:

Friendly and knowledgeable real estate professional with exceptional customer service skills and as a native resident of Brimbank, she is extremely knowledgeable of the local real estate market.

Mai has become adept at compiling market reports for her clients and local comp reports regarding a specific property.

Mai has an extensive network of clients, agents, conveyancers, appraisers, and mortgage loan brokers.

Her ability to hustle and work until the client is satisfied is unmatched in the real estate network.

Speaking different languages and a multi culture Company.

Financial Highlights

MN Realtor is seeking $80,000 in debt financing to launch her real estate business. The funding will be dedicated towards securing a small office space, purchasing office equipment, and funding the marketing company for advertising costs. The breakout of the funding is below:

Office Lease Up-front Cost: $20,000

Office equipment: $10,000

Advertising agency in charge of promotions: $10,000

Other costs: $30,000

Working capital: $10,000

Question:

Script a video of you delivering the Business Plan.