sample executive summary real estate business plan

Table 1—Wage Estimate Revisions From NPRM to Final Rule RIA

The scope of residential real estate transfers that would be affected by the rule is jointly defined by the (1) the nature of the property transferred, (2) the financed nature of the transfer, and (3) the legal organization of the party to whom the property is transferred. For purposes of identification, the defining attribute for the nature of the property is that it is principally designed, or intended to become, the residence of one to four families, including cooperatives and vacant or unimproved land. Additionally, the property must be located in the United States as defined in the BSA implementing regulations.

Reportable transfers exclude all those in which the transferees receive an extension of credit from a financial institution subject to AML/CFT program and SAR Reporting requirements that is secured by the residential real property being transferred. Reportable transfers also exclude transfers associated with an easement, death, divorce, or bankruptcy or that are otherwise supervised by a court in the United States, as well as certain no consideration transfers to trusts, certain transfers related to 1031 Exchanges, and any transfer for which there is no reporting person.

On the basis of available data, studies, and qualitative evidence, subject to certain qualifying caveats about limitations in data availability, and in the absence of large, unforeseeable shocks to the U.S. residential housing market, FinCEN's NPRM analysis estimated that the number of reportable transfers would be between approximately 800,000 and 850,000 annually. FinCEN received a number of comment letters suggesting that this estimate is too low. However, because most arguments of this nature were made on the basis of an understanding that the rule would include several kinds of transfers that have since been explicitly excepted in the final rule, FinCEN is not increasing its estimates.

FinCEN took certain potentially informative aspects of the current market for residential real property into consideration when forming its expectations about the anticipated economic impact of the rule. Among other things, FinCEN considered trends in the observable rate of turnover in the stock of existing homes. Additionally, FinCEN reviewed recent studies and data from the academic literature estimating housing supply elasticities on previously developed versus newly developed land.

FinCEN also considered recent survey results of the residential real estate holdings of high-net-worth individuals and the proportion of survey respondents who self-reported the intent to purchase additional residential real estate in the coming year. Further, FinCEN reviewed studies of trends in the financing and certain distributional characteristics of shared equity housing, which includes co-operatives that will be affected by the rule.

FinCEN assessed the role of various persons in the real estate settlement and closing process to determine a quantifiable estimate of each profession or industry's overall participation in that process. Accordingly, FinCEN conducted research based on publicly available sources to assess the general participation rate of the different types of reporting persons in the rule's reporting cascade. As part of its analysis, FinCEN noted a recent blog post citing data from the American Land Title Association (ALTA) that 80 percent of homeowners purchase title insurance when buying a home. [ 75 ]

To better understand the distribution of the other types of persons providing residential real property transfer services to the transfers that are affected by the rule, FinCEN utilized county deed database records to approximate a randomly selected and representative sample of residential real estate transfers across the United States. FinCEN made efforts to collect deed data that reflected a representative, nation-wide sample, both in terms of the number and geographic dispersion of deeds, but acknowledges selection was nevertheless constrained in part by the feasibility to search by deed type, among other factors. FinCEN invited public feedback on the extent to which the same analysis would yield substantively different results if performed over a larger sample (with either more geographic locations, more ( print page 70284) observations per location, or both), but did not receive any responsive data or the results of analysis based on such data.

The final analysis included 100 deeds, of which 97 involved at least one of the following potential reporting persons: (i) Title Abstract and Settlement Offices, (ii) Direct Title Insurance Carriers, or (iii) Offices of Lawyers. A candidate reporting person was deemed to be involved with the creation of the deed if either (i) a company or firm performing one of these functions was included on the deed or (ii) an individual performing or employed by a company or firm performing one of these functions was included on the deed. FinCEN assessed the distribution of alternative entities identified on the remaining deeds, categorizing by reporting person type. Based on this qualitative analysis, FinCEN tentatively anticipates that approximately three percent of reportable transfers might have a reporting person or reporting cascade that begins with someone other than a settlement agent, title insurer, or attorney.

Currently, law enforcement searches a variety of State and commercial databases (that may or may not include beneficial ownership information), individual county record offices, and/or use subpoena authority to trace the suspected use of criminal proceeds in the non-financed transfer of residential real estate. Even after a significant investment of resources, the identities of the beneficial owners may not be readily ascertainable. This fragmented and limited approach can slow down and decrease the overall efficacy of investigations into money laundering through real estate. This was one reason that FinCEN introduced the Residential Real Estate GTOs, which law enforcement has reported have significantly expanded their ability to investigate this money laundering typology. At the same time, the Residential Real Estate GTOs have certain restrictions that limited its usefulness nationwide. This rule builds on and is intended to replace the Residential Real Estate GTO framework and creates reporting and recordkeeping requirements for specific residential real estate transfers nationwide.

The final rule requires certain persons involved in real estate closings and settlements to submit reports and keep records on identified non-financed transfers of residential real property to specified legal entities and trusts on a nationwide basis. The rule does not require transfers to be reported if the transfer is financed, meaning that the transfer involves an extension of credit to all transferees that is secured by the transferred residential real property and is extended by a financial institution that has both an obligation to maintain an AML program and an obligation to report suspicious transactions under this chapter. It also does not require reporting of: (i) a grant, transfer, or revocation of an easement; (ii) a transfer resulting from the death of an owner of residential real property; (iii) a transfer incident to divorce or dissolution of a marriage or civil union; (iv) a transfer to a bankruptcy estate; (v) a transfer supervised by a court in the United States; (vi) a transfer for no consideration made by an individual, either alone or with the individual's spouse, to a trust of which that individual, that individual's spouse, or both of them, are the settlor(s) or grantor(s); (vii) a transfer to a qualified intermediary for purposes of a 1031 Exchange; or (viii) a transfer that does not involve a reporting person. A report would also not need to be filed if the transferee is an exempt legal entity or trust, which are generally highly-regulated.

The final rule requires a reporting person, as determined by either the reporting cascade or as pursuant to a designation agreement, to complete and electronically file a Real Estate Report. The reporting person may generally obtain, and reasonably rely upon, information needed to complete the Real Estate Report from any other person. This reasonable reliance standard is more limited for purposes of obtaining the transferee's beneficial ownership information. In those situations, the reasonable reliance standard applies only to information provided by the transferee or the transferee's representative and only if the person providing the information certifies the accuracy of the information in writing to the best of their knowledge. The reporting person must file the report by the final day of the following month after which a closing took place, or 30 days after the date of the closing, whichever is later.

The final rule requires the reporting person to report to FinCEN certain information about a reportable transfer of residential real property. This includes information on the reporting person, the transferee and its beneficial owners, the transferor, the property being transferred, and certain payment information. The collected information will be maintained by FinCEN in an existing database accessible to authorized users. Some commenters' remarks suggest that certain expectations of the rule's potential effects may flow from a misunderstanding about who may access Real Estate Report data once filed and how it may be used. FinCEN is therefore reiterating that both access and use of Real Estate Report data will be subject to the same restrictions as other BSA reports, including traditional SARs.

This section describes the main, quantifiable economic effects FinCEN anticipates the various affected parties identified above may experience. Because the primary expected value of the rule is in the extent to which it is able to address or ameliorate the economic problems discussed under the RIA's broad economic considerations, which (while substantial) is generally inestimable, no attempt is made to quantify the net benefit of the rule. Instead, the remainder of this section focuses primarily on the estimates of reasonably anticipated, calculable costs to affected parties. While FinCEN continues to principally anticipate aggregate cost estimates between approximately $267.3 million and $476.2 million in the first compliance year and current dollar value of the aggregate costs in subsequent years between approximately $245.0 million and $453.9 million annually, it has provided revised estimates throughout the remaining analysis, responsive to public comments, that reflect more conservative expectations about the cost of labor. Under these assumptions, the anticipated costs of the rule would be between approximately $428.4 and $690.4 million (midpoint $559.4 million) in the first compliance year and between approximately $401.2 and $663.2 million (midpoint $532.2 million) (current dollar value) in subsequent years. These quantified costs are a pro forma accounting cost estimate only and are not expected to represent either the full economic costs of the rule nor the net cost of the rule as measured against the components of expected benefits that may become quantifiable. As previously stated, the ability to successfully detect, prosecute, and deter crimes—or other illicit activities that rely on money laundering to be ( print page 70285) profitable—is not readily translatable to dollar figures. [ 76 ] However, it might be inferred that a tacit expectation underlying this rulemaking is that the rule will generate intangible benefits worth over $500 million per year. [ 77 ]

To estimate expected training costs, FinCEN adopted a parsimonious model similar, in certain respects, to the methodology used by FinCEN when publishing the RIA for the 2016 CDD Rule (CDD Rule RIA). Taking into consideration, however, that, unlike covered financial institutions under the CDD Rule, only one group of affected reporting persons has direct pre-existing experience with other FinCEN reporting and compliance requirements, the estimates of anticipated training time here are revised upward from the CDD Rule RIA to 75 minutes for initial training and 30 minutes for annual refresher training. FinCEN's method of estimation assumes that an employee who has received initial training once will then subsequently take the annual refresher training each following year. This assumption contemplates that more than half of the original training would not be firm-specific and remains useful to the employee regardless of whether they remain with their initial employer or change jobs within the same industry. As in the CDD Rule RIA high estimate model, FinCEN estimates that two-thirds of untrained employees receive the initial (lengthier) training each year. However, because the initial training is assumed to provide transferrable human capital in this setting, turnover is not relevant to the assignment to initial training in periods following Year 1. Thus, in the revised model, FinCEN calculated annual training costs as the combination of the expected costs of providing two-thirds of the previously untrained workforce per industry with initial (lengthier) training and all previously trained employees with the refresher (shorter) training. Time costs are proxied by an industry-specific fully loaded wage rate at the 90th percentile per industry.

To model industry-specific hiring inflows in periods following Year 1, FinCEN converted the Bureau of Labor Statistics (BLS) projected 10-year cumulative employment growth rates for 2022-2032 for the NAICS code mostly closely associated with a given industry available. Additionally, inflation data from the Federal Reserve Bank of St. Louis was utilized to estimate annual wage growth given the opportunity cost of training is assumed to be equivalent to the wage of employees. Utilizing these inputs, and summing costs across all industries expected to be affected, FinCEN estimates that the aggregate initial year training costs would be approximately $51.0 million dollars and the undiscounted aggregate training costs in each of the subsequent years would range between approximately $23.2 and $31.5 million.

FinCEN notes that fewer than five percent of unique comments received made specific reference to the training costs that the rule would necessitate and fewer still provided comments pertaining to the RIA estimates of training costs. While one commenter suggested that the uniformity of the rule would reduce the burden of preparing training materials relative to the current variety of Residential Real Estate GTO thresholds and applications, the majority of training cost-related comments simply noted that training costs would impose a burden and might separately lead to higher labor costs if new personnel require compensation for additional reporting compliance related subject-matter expertise. There were, however, some commenters who expressed a belief that the amount of time needed for—and frequency of—training needed to adequately prepare staff for compliance would be higher. While FinCEN is declining to responsively adjust its estimates of training-related time costs for reasons, among others, that are further discussed below, FinCEN is responsive to certain other commenters who expressed a perceived value to having a greater range of potential burden estimates to compare: had FinCEN adopted the suggested alternative training time costs, the aggregate annual training burden would have been either $81.5 million in year 1  [ 78 ] or $101.9 million  [ 79 ] in year 1, or between $63.5 and $130.8 million in a given year. [ 80 ]

In its NPRM analysis, FinCEN recognized that the rule would impose certain costs on businesses positioned to provide services to non-financed transfers of residential real property even in the absence of direct participation in a specific reportable transfer, including the costs of preparing informational material and training personnel about the proposed rule generally as well as certain firm-specific policies and procedures related to reporting, complying, and documenting compliance. Because this training burden was applied uniformly across all potentially affected occupational categories represented in the reporting cascade, which is already a conservative assumption given that some cascade tiers are, in practice, more likely to become the reporting person than others, FinCEN considered time burden ( print page 70286) values (75 minutes for initial, 30 minutes for refresher) that would average across the expected variation in training by occupational category a reasonable approach. Furthermore, these training costs, as estimated in the NPRM, pertain only to those contemplated activities identified (developing general understanding of the rule and firm-specific compliance policies and procedures) and were not intended to reflect additional reporting-technology and form-specific training costs. Costs of training that are specific to the Real Estate Report will be separately estimated as a function of the RIA in the NPRM for the Real Estate Report; therefore, it would not have been appropriate to have included those training costs in the current final rule estimates as that would result in accounting for the same expense twice.

The total costs associated with reporting a given reportable transfer will likely vary with the specific facts and circumstances of the transfer. For instance, the cost of the time needed to prepare and file a report could differ depending on which party in the cascade is the reporting person, because parties receive different compensating wages. The costs associated with the time to determine who is the reporting person will also vary by the number of potential parties who may assume the role and thus might be parties to a designation agreement. Additionally, the time required to prepare a report will likely vary with the complexity of the beneficial ownership of the transferee and, for example, the level of the transferee entity's preexisting familiarity with the concepts of beneficial ownership information as defined for FinCEN purposes.

FinCEN continues to estimate an average per-party cost to determine the reporting person of 30 (15) minutes for the party that assumes the role if a designation agreement is (not) required and 15 minutes each for all non-reporting parties (assuming each tier in the cascade corresponds to one reporting person). Therefore, the range of potential time costs associated with determining the reporting person is expected to be between 15 to 90 minutes. Recently, FinCEN received updated information from parties currently reporting under the Residential Real Estate GTOs indicating that the previously estimated time cost of 20 minutes for that reporting requirement was less than half the average time expended per report in practice. Based on this feedback, the filing time burden FinCEN anticipates for the rule accordingly incorporates a 45-minute estimate for the collection and reporting of the subset of Real Estate Report required information that is similar to information in reports filed under the Residential Real Estate GTOs, although FinCEN recognizes that certain transfers may require significantly more time. Mindful of these outliers, FinCEN estimates an average 2 hour per reportable transfer time cost to collect and review transferee and transfer-specific reportable information and related documents, and an average 30 minute additional time cost to reporting.

Based on the range of expected reportable transfers and the wages associated with different persons in the potential reporting cascade, FinCEN anticipates that the rule's reporting costs may be between approximately $174.6 million and $466.5 million.

In its original NPRM analysis, FinCEN stated an expectation that reporting persons would generally be able to rely on technology previously purchased and already deployed in the ordinary course of business (namely, computers and access to the internet) to comply with the proposed reporting requirements, and therefore no line item of incremental expected IT costs was ascribed to reporting. Certain commenters expressed that this expectation would be unrealistic because their current business practices rely on software for tracking and internal controls processes, for example, that would need to be updated in light of the rule's reporting requirements. However, FinCEN did not receive any comments that would enable it to quantify the expected burden associated with these software upgrades that commenters described. In the absence of readily generalizable cost estimates, it is therefore not feasible to update reporting costs responsively, though FinCEN acknowledges that, as a consequence, its aggregate burden estimates can, at best, function as a lower-bound expectation of the total costs of the rule.

FinCEN continues to expect that the rule would impose recordkeeping requirements on reporting persons as well as, in certain cases, members of a given reportable transfer's cascade that are not the reporting person. The primary variation in expected recordkeeping costs would flow from the conditions under which the reporting person has assumed their role. Additional variation in costs may result from differences in the dollar value assigned to the reporting person's time costs as a function of their primary occupation.

If the reporting person assumes that role as a function of their position in the reporting cascade, this would imply that no meaningfully distinct person involved in the transfer provided the preceding service(s). In this case, the reporting person's recordkeeping requirements would be limited to the retention of compliance documents ( i.e., a copy of the transferee's certification of beneficial ownership information) for a period of five years in a manner that preserves ready availability for inspection as authorized by law. Recordkeeping costs would therefore include those associated with creating and/or collecting the necessary documents, storing the records in an accessible format, and securely disposing of the records after the required retention period has elapsed. FinCEN anticipates that over the full recordkeeping lifecycle, each reportable ( print page 70287) transfer would, on average, require one hour of the reporting person's time, as well as a record processing and maintenance cost of ten cents. Because FinCEN expects that records will primarily be produced and recorded electronically and estimates its own processing and maintenance costs at ten cents per record, it has applied the same expected cost per reportable transfer to reporting persons. In aggregate, this would result in recordkeeping costs between approximately $63.6 million and $130.8 million associated with one year's reportable transfers.

If the reporting person has instead assumed that role as the result of a designation agreement, the rule would impose additional recordkeeping requirements on both the reporting person and at least one other member of the reporting cascade. This is because the existence of a designation agreement implies the existence of one or more distinct alternative parties to the reportable transfer that provided a preceding service or services as described in the cascade. While the final rule only stipulates that “all parties to a designation agreement” would also be anticipated to incur recordkeeping costs, FinCEN expects the minimum number of additional parties required to retain a readily accessible copy of the designation agreement for a five-year period would, in practice, depend on the number of alternative reporting parties servicing the transfer in a capacity that precedes the designated reporting person in the cascade, as it would otherwise be difficult to demonstrate the prerequisite sequence of conditions were met to establish the “but for” of the requirement. Conservatively assuming that each service in the cascade is provided by a separate party, this would impose an incremental recordkeeping cost on at least two parties per transfer and at most five. Because FinCEN estimates of reporting costs already assign the costs of preparing a designation agreement to the reporting person (when a transfer includes a designation agreement), the incremental recordkeeping costs it estimates here pertain solely to the electronic dissemination, signing, and storage of the agreement. This is assigned an average time cost of five minutes per signing party to read and sign the designation agreement, as well as a ten-cent record processing and maintenance cost per transfer. Thus, designation agreement-specific recordkeeping costs are expected to include a time cost of 10-50 minutes (assuming one party signing per tier of the cascade) and $0.20-$0.50 per reportable transfer that involves a designation. This corresponds to expected annual aggregate costs ranging from approximately $10.9 million to $36.1 million. FinCEN notes that it assumes that rational parties to a reportable transfer would not enter into a designation agreement if the expected cost of doing so, including compliance with the recordkeeping requirements, were not elsewhere compensated in the form of efficiency gains or other offsetting cost savings associated with other components of compliance with the rule, such as training or reporting costs. As such, the estimates provided here should only be taken to reflect a pro forma accounting cost.

Several commenters expressed concern that in addition to the technological costs associated with new or upgraded software, they would face certain non-monetary costs in the form of increased technology and cybersecurity related risk. Because FinCEN is not requiring reporting persons to retain copies of filed Real Estate Reports, it is not clear how the incremental data that would be retained ( i.e., a copy of the beneficial ownership information certification and, if one exists, a copy of the designation agreement) could be meaningfully distinguished from other records a reporting person might retain in connection with the same reportable transfer for purposes of estimating a standalone burden of increased risk.

To implement the rule, FinCEN expects to incur certain operating costs that would include approximately $8.5 million in the first year and approximately $7 million each year thereafter. These estimates include anticipated novel expenses related to technological implementation, [ 81 ] stakeholder outreach and informational support, compliance monitoring, and potential enforcement activities, as well as certain incremental increases to pre-existing administrative and logistical expenses.

While such operating costs are not typically considered part of the general economic cost of a rule, FinCEN acknowledges that this treatment implicitly assumes that resources commensurate with the novel operating costs exist. If this assumption does not hold, then operating costs associated with a rule may impose certain economic costs on the public in the form of opportunity costs from the agency's forgone alternative activities and those activities' attendant benefits. Putting that into the context of this rule, and benchmarking against FinCEN's actual appropriated budget for fiscal year 2023 ($190.2 million), [ 82 ] the corresponding opportunity cost would resemble forgoing approximately 4.5 percent of current activities annually.

In the NPRM, FinCEN analyzed the expected impact of three policy alternatives to the proposed rule and invited public comment regarding the ( print page 70288) viability and preferability of these alternatives.

First, instead of the designation option included in the proposed rule, FinCEN could have required the reporting person to be determined strictly by the reporting cascade, leaving it to the parties to a covered transfer to determine which service provider would meet the highest tier of the cascade and consequently be required to report without any option to select whichever party in the reporting cascade is best-positioned to file the report. FinCEN expects that rational parties would prefer to assign the reporting obligation to the party who can complete the report most cost-effectively. An alternative reporting structure that does not allow the parties to designate a reporting person responsible for the report would therefore be less cost-effective than the approach proposed in the NPRM, unless the reporting cascade would always assign the reporting requirement to the party with the lowest associated compliance costs. Because FinCEN expects that parties to the covered transfer may be better situated to determine which party can complete the required report in the most cost-effective manner, FinCEN declined to propose a standalone reporting cascade. FinCEN did not receive any comments indicating that it was mistaken in its assumptions, nor did it receive any comments indicating a preference for the designation option to be removed.

As a second alternative, FinCEN could have proposed to impose the full traditional SAR filing obligations and AML/CFT program requirements on the various real estate professionals included in the proposed reporting cascade instead of the narrower requirement that only one participant party would be required to file a Real Estate Report. While imposing full AML/CFT program requirements on all real estate professionals would have almost certainly served to mitigate the illicit finance risks in the residential real estate sector, FinCEN considered that the costs accompanying this alternative would be commensurately more significant and would likely disproportionately burden small businesses. Such weighting of costs towards smaller entities was expected to increase transaction costs associated with residential real property transfers both directly via program-related operational costs and indirectly via the potential anticompetitive effects of program costs and was therefore considered a less viable alternative than the streamlined reporting obligation proposed. FinCEN did not receive any comments indicating that it was mistaken in its expectations about the economic impact of this alternative or its lesser desirability.

Finally, as a third alternative, FinCEN could have required the reporting person to certify the transferee's beneficial ownership information instead of allowing them to rely upon the transferee entity or trust to certify to the reporting person that the beneficial ownership information they have provided is accurate to the best of their knowledge. FinCEN anticipated that this alternative would likely be accompanied by a number of increased costs, including a potential need for longer, more detailed compliance training; lengthier time necessary to collect and review documents supporting the reported transferee beneficial ownership information required; and increased recordkeeping costs. FinCEN also considered that there might also be costs associated with transfers that would not occur if, for example, a reporting person was unwilling or unable to certify the transferee's information. Furthermore, FinCEN was concerned about the potential anticompetitive effects that might arise if certain reporting persons are better positioned to absorb the risks associated with certifying transferee beneficial ownership information, as it was foreseeable that smaller businesses could be at a disadvantage. FinCEN did not receive any comments indicating that it was mistaken in its expectations about the economic impact of this alternative or comments from potentially affected transferees that they would prefer the reporting person to provide certification instead.

E.O. 12866 and its amendments direct agencies to assess the costs and benefits of available regulatory alternatives and, if regulation is necessary, to select regulatory approaches that maximize net benefits (including potential economic, environmental, and public health and safety effects; distributive impacts; and equity). [ 83 ] E.O. 13563 emphasizes the importance of quantifying both costs and benefits, reducing costs, harmonizing rules, and promoting flexibility. E.O. 13563 also recognizes that some benefits are difficult to quantify and provides that, where appropriate and permitted by law, agencies may consider and discuss qualitatively values that are difficult or impossible to quantify. [ 84 ]

Because annual residential real estate transaction volume can vary significantly from year to year and is sensitive to a host of macroeconomic factors (some of which cannot easily be modeled with reasonable accuracy), estimates that rely on average values of current data projected over extended periods of time into the future may be of limited informational value. Nevertheless, FinCEN has prepared certain annualized cost estimates as recommended in OMB circular A-4. [ 85 ] Using the midpoint of the estimated range of expected costs in year one of compliance  [ 86 ] and in subsequent years, [ 87 ] FinCEN estimates that the net present value of costs associated with a five-year time horizon is $2.21 billion ($2.46 billion) using a 7 precent (3 percent) discount rate, respectively. This equates to annualized costs of $538.4 million ($538.0 million) using the same discount rates.

This rule has been designated a “significant regulatory action;” accordingly, it has been reviewed by the Office of Management and Budget (OMB).

When an agency issues a rulemaking proposal, the RFA  [ 88 ] requires the agency either to provide an initial regulatory flexibility analysis (IRFA) with a proposed rule or to certify that the proposed rule would not have a significant economic impact on a substantial number of small entities. In its NPRM, FinCEN asserted that, although the rule might apply to a substantial number of small entities, [ 89 ] it ( print page 70289) was not expected to have a significant economic impact on a substantial number of them. [ 90 ] The preliminary basis for this expectation, at that stage, included FinCEN's attempts to minimize the burden on reporting persons by streamlining the reporting requirements and providing for an option to designate the reporting obligation. Accordingly, FinCEN certified that the proposed rule would not have a significant economic impact on a substantial number of small entities. [ 91 ]

Having considered the various possible outcomes for small entities under the reporting requirements at the proposal stage  [ 92 ] and having taken the public comments received in response to the NPRM into consideration, FinCEN continues to believe that the rule will not have a significant economic impact on a substantial number of small entities, [ 93 ] and therefore that certification remains appropriate and a Final Regulatory Flexibility Analysis (FRFA) is not required. Changes made from the NPRM to the final rule reinforce this conclusion. The final rule contains additional exceptions for low-risk transfers and otherwise clarifies the scope of transactions to which the rule will apply, and also adopts a reasonable reliance standard with respect to information provided to reporting persons. As a result, FinCEN expects that the final rule will result in a more narrowly scoped burden in general than the proposed rule that was certified at the NPRM stage. [ 94 ] FinCEN expects that small entities affected by the final rule would experience a proportionate share of this reduction in burden when compared to the proposed rule, resulting in a more limited burden for small entities under the final rule when compared to the proposed rule, noting again that the proposed rule was itself certified as not having a significant economic impact on a substantial number of small entities.

Nevertheless, while further steps to accommodate or discuss small entity concerns may not be a strict requirement, FinCEN is mindful of the small-business-oriented views and concerns voiced during the public comment period and has not precluded taking additional steps, as feasible, to facilitate implementation of the final rule in a manner that minimizes the perceived or realized competitive disadvantages a small business or other affected small entity may face. This includes, but may not be limited to, targeted outreach and production of training materials such as FAQs or a Small Entity Compliance Guide, in addition to the more broadly available support services as previously discussed in Section III.A and Section VI.A.iv.b.

Having considered the various possible outcomes for small entities under the reporting requirements at the proposal stage and having taken the public comments received in response to the NPRM into consideration for the final rule, FinCEN continues to certify that the rule will not have a significant economic impact on a substantial number of small entities.

Section 202 of the UMRA  [ 95 ] requires that an agency prepare a statement before promulgating a rule that may result in expenditure by state, local, and Tribal governments, or the private sector, in the aggregate, of $184 million or more in any one year. [ 96 ] Section 202 of the UMRA also requires an agency to identify and consider a reasonable number of regulatory alternatives before promulgating a rule. FinCEN believes that the preceding assessment of impact  [ 97 ] satisfies the UMRA's analytical requirements.

The new information collection requirements contained in this rule ( 31 CFR 1031.320 ) have been approved by OMB in accordance with the Paperwork Reduction Act of 1995 (PRA), 44 U.S.C. 3501 et seq., under control number 1506-0080. The PRA imposes certain requirements on Federal agencies in connection with their conducting or sponsoring any collection of information as defined by the PRA. Under the PRA, an agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a valid OMB control number. The rule includes three information collection requirements: Real Estate Reports, which will be submitted to FinCEN, and, depending on the circumstances of the transfer, a designation agreement and/or a certification form for beneficial ownership information, neither of which will be submitted to FinCEN but which must be retained for five years.

Reporting and Recordkeeping Requirements: The provisions in this rule pertaining to the collection of information can be found in paragraph (a) of 31 CFR 1031.320 . The information required to be reported by the rule will be used by the U.S. Government to monitor and investigate money laundering in the U.S. residential real estate sector. The information required to be maintained will be used by Federal agencies to verify compliance by reporting persons with the provisions of the rule. The collection of information is mandatory.

OMB Control Number: 1506-0080

Frequency: As required

Description of Affected Public: Residential Real Estate Settlement Agents, Title Insurance Carriers, Escrow Service Providers, Other Real Estate Professionals

Estimated Number of Responses: 850,000  [ 98 ]

Estimated Total Annual Reporting and Recordkeeping Burden: 4,604,167 burden hours  [ 99 ]

Estimated Total Annual Reporting and Recordkeeping Cost: $630,976,662.47  [ 100 ]

OMB's Office of Information and Regulatory Affairs has designated this rule as meeting the criteria under 5 U.S.C. 804(2) for purposes of Subtitle E of the Small Business Regulatory Enforcement and Fairness Act of 1996 (also known as the Congressional Review Act or CRA). [ 101 ] Under the CRA, such rules generally may take effect no earlier than 60 days after the rule is published in the Federal Register . [ 102 ]

• Administrative practice and procedure
• Authority delegations (Government agencies)
• Banks and banking
• Buildings and facilities
• Business and industry
• Condominiums
• Cooperatives
• Citizenship and naturalization
• Electronic filing
• Fair housing
• Federal home loan banks
• Federal savings associations
• Federal-States relations
• Foreign investments in US
• Foreign persons
• Foundations
• Holding companies
• Home improvement
• Indian—law
• Indians—tribal government
• Insurance companies
• Investment advisers
• Investment companies
• Investigations
• Legal services
• Law enforcement
• Low and moderate income housing
• Money laundering
• Mortgage insurances
• Real property acquisition
• Record retention
• Reporting and recordkeeping requirements
• Small businesses
• Trusts and trustees
• US territories

For the reasons set forth in the preamble, chapter X of title 31 of the Code of Federal Regulations is amended by adding part 1031 to read as follows:

Authority: 12 U.S.C. 1829b , 1951-1959 ; 31 U.S.C. 5311-5314 , 5316-5336 ; title III, sec. 314 Pub. L. 107-56 , 115 Stat. 307; sec. 701 Pub. L. 114-74 , 129 Stat. 599; sec. 6403, Pub. L. 116-283 , 134 Stat. 3388.

(a) General. A reportable transfer as defined in paragraph (b) of this section shall be reported to FinCEN by the reporting person identified in paragraph (c) of this section. The report shall include the information described in paragraphs (d) through (i) of this section. The reporting person may reasonably rely on information collected from others under the conditions described in paragraph (j). The report required by this section shall be filed in the form and manner, and at the time, specified in paragraph (k) of this section. Records shall be retained as specified in paragraph (l) of this section. Reports required under this section and any other information that would reveal that a reportable transfer has been reported are not confidential as specified in paragraph (m) of this section. Terms not defined in this section are defined in 31 CFR 1010.100 .

(b) Reportable transfer. (1) Except as set forth in paragraph (b)(2) of this section, a reportable transfer is a non-financed transfer to a transferee entity or transferee trust of an ownership interest in residential real property. For the purposes of this section, residential real property means:

(i) Real property located in the United States containing a structure designed principally for occupancy by one to four families;

(ii) Land located in the United States on which the transferee intends to build a structure designed principally for occupancy by one to four families;

(iii) A unit designed principally for occupancy by one to four families within a structure on land located in the United States; or

(iv) Shares in a cooperative housing corporation for which the underlying property is located in the United States.

(2) A reportable transfer does not include a:

(i) Grant, transfer, or revocation of an easement;

(ii) Transfer resulting from the death of an individual, whether pursuant to the terms of a decedent's will or the terms of a trust, the operation of law, or by contractual provision;

(iii) Transfer incident to divorce or dissolution of a marriage or civil union;

(iv) Transfer to a bankruptcy estate;

(v) Transfer supervised by a court in the United States;

(vi) Transfer for no consideration made by an individual, either alone or with the individual's spouse, to a trust of which that individual, that individual's spouse, or both of them, are the settlor(s) or grantor(s);

(vii) Transfer to a qualified intermediary for purposes of 26 CFR 1.1031(k)-1 ; or

(viii) Transfer for which there is no reporting person.

(c) Determination of reporting person. (1) Except as set forth in paragraphs (c)(2), (3) and (4) of this section, the reporting person for a reportable transfer is the person engaged within the United States as a business in the provision of real estate closing and settlement services that is:

(i) The person listed as the closing or settlement agent on the closing or settlement statement for the transfer;

(ii) If no person described in paragraph (c)(1)(i) of this section is involved in the transfer, then the person that prepares the closing or settlement statement for the transfer;

(iii) If no person described in paragraph (c)(1)(i) or (ii) of this section is involved in the transfer, then the person that files with the recordation office the deed or other instrument that transfers ownership of the residential real property;

(iv) If no person described in paragraphs (c)(1)(i) through (iii) of this section is involved in the transfer, then the person that underwrites an owner's title insurance policy for the transferee with respect to the transferred residential real property, such as a title insurance company;

(v) If no person described in paragraphs (c)(1)(i) through (iv) of this section is involved in the transfer, then the person that disburses in any form, including from an escrow account, trust account, or lawyers' trust account, the greatest amount of funds in connection with the residential real property transfer;

(vi) If no person described in paragraphs (c)(1)(i) through (v) of this section is involved in the transfer, then the person that provides an evaluation of the status of the title; or ( print page 70291)

(vii) If no person described in paragraphs (c)(1)(i) through (vi) of this section is involved in the transfer, then the person that prepares the deed or, if no deed is involved, any other legal instrument that transfers ownership of the residential real property, including, with respect to shares in a cooperative housing corporation, the person who prepares the stock certificate.

(2) Employees, agents, and partners. If an employee, agent, or partner acting within the scope of such individual's employment, agency, or partnership would be the reporting person as determined in paragraph (c)(1) of this section, then the individual's employer, principal, or partnership is deemed to be the reporting person.

(3) Financial institutions. A financial institution that has an obligation to maintain an anti-money laundering program under this chapter is not a reporting person for purposes of this section.

(4) Designation agreement. (i) The reporting person described in paragraph (c)(1) of this section may enter into an agreement with any other person described in paragraph (c)(1) of this section to designate such other person as the reporting person with respect to the reportable transfer. The person designated by such agreement shall be treated as the reporting person with respect to the transfer. If reporting persons decide to use designation agreements, a separate agreement is required for each reportable transfer.

(ii) A designation agreement shall be in writing, and shall include:

(A) The date of the agreement;

(B) The name and address of the transferor;

(C) The name and address of the transferee entity or transferee trust;

(D) Information described in in paragraph (g) identifying transferred residential real property;

(E) The name and address of the person designated through the agreement as the reporting person with respect to the transfer; and

(F) The name and address of all other parties to the agreement.

(d) Information concerning the reporting person. The reporting person shall report:

(1) The full legal name of the reporting person;

(2) The category of reporting person, as determined in paragraph (c) of this section; and

(3) The street address that is the reporting person's principal place of business in the United States.

(e) Information concerning the transferee —(1) Transferee entities. For each transferee entity involved in a reportable transfer, the reporting person shall report:

(i) The following information for the transferee entity:

(A) Full legal name;

(B) Trade name or “doing business as” name, if any;

(C) Complete current address consisting of:

( 1 ) The street address that is the transferee entity's principal place of business; and

( 2 ) If such principal place of business is not in the United States, the street address of the primary location in the United States where the transferee entity conducts business, if any; and

(D) Unique identifying number, if any, consisting of:

( 1 ) The Internal Revenue Service Taxpayer Identification Number (IRS TIN) of the transferee entity;

( 2 ) If the transferee entity has not been issued an IRS TIN, a tax identification number for the transferee entity that was issued by a foreign jurisdiction and the name of such jurisdiction; or

( 3 ) If the transferee entity has not been issued an IRS TIN or a foreign tax identification number, an entity registration number issued by a foreign jurisdiction and the name of such jurisdiction;

(ii) The following information for each beneficial owner of the transferee entity:

(B) Date of birth;

(C) Complete current residential street address;

(D) Citizenship; and

(E) Unique identifying number consisting of:

( 1 ) An IRS TIN; or

( 2 ) Where an IRS TIN has not been issued:

( i ) A tax identification number issued by a foreign jurisdiction and the name of such jurisdiction; or

( ii ) The unique identifying number and the issuing jurisdiction from a non-expired passport issued by a foreign government; and

(iii) The following information for each signing individual, if any:

(D) Unique identifying number consisting of:

( ii ) The unique identifying number and the issuing jurisdiction from a non-expired passport issued by a foreign government to the individual;

(E) Description of the capacity in which the individual is authorized to act as the signing individual; and

(F) If the signing individual is acting in that capacity as an employee, agent, or partner, the name of the individual's employer, principal, or partnership.

(2) Transferee trusts. For each transferee trust in a reportable transfer, the reporting person shall report:

(i) The following information for the transferee trust:

(A) Full legal name, such as the full title of the agreement establishing the transferee trust;

(B) Date the trust instrument was executed;

(C) Unique identifying number, if any, consisting of:

( 1 ) IRS TIN; or

( 2 ) Where an IRS TIN has not been issued, a tax identification number issued by a foreign jurisdiction and the name of such jurisdiction; and

(D) Whether the transferee trust is revocable;

(ii) The following information for each trustee that is a legal entity:

( 1 ) The street address that is the trustee's principal place of business; and

( 2 ) If such principal place of business is not in the United States, the street address of the primary location in the United States where the trustee conducts business, if any; and

( 1 ) The IRS TIN of the trustee;

( 2 ) In the case that a trustee has not been issued an IRS TIN, a tax identification number issued by a foreign jurisdiction and the name of such jurisdiction; or

( 3 ) In the case that a trustee has not been issued an IRS TIN or a foreign tax identification number, an entity registration number issued by a foreign jurisdiction and the name of such jurisdiction;

(E) For purposes of this section, an individual trustee of the transferee trust is considered to be a beneficial owner of the trust. As such, information on individual trustees must be reported in accordance with the requirements set forth in paragraph (e)(2)(iii) of this section;

(iii) The following information for each beneficial owner of the transferee trust:

(A) Full legal name; ( print page 70292)

(D) Citizenship;

(F) The category of beneficial owner, as determined in paragraph (j)(1)(ii) of this section; and

(iv) The following information for each signing individual, if any:

(f) Information concerning the transferor. For each transferor involved in a reportable transfer, the reporting person shall report:

(1) The following information for a transferor who is an individual:

(i) Full legal name;

(ii) Date of birth;

(iii) Complete current residential street address; and

(iv) Unique identifying number consisting of:

(A) An IRS TIN; or

(B) Where an IRS TIN has not been issued:

( 1 ) A tax identification number issued by a foreign jurisdiction and the name of such jurisdiction; or

( 2 ) The unique identifying number and the issuing jurisdiction from a non-expired passport issued by a foreign government to the individual;

(2) The following information for a transferor that is a legal entity:

(ii) Trade name or “doing business as” name, if any;

(iii) Complete current address consisting of:

(A) The street address that is the legal entity's principal place of business; and

(B) If the principal place of business is not in the United States, the street address of the primary location in the United States where the legal entity conducts business, if any; and

(iv) Unique identifying number, if any, consisting of:

(A) An IRS TIN;

(B) In the case that the legal entity has not been issued an IRS TIN, a tax identification number issued by a foreign jurisdiction and the name of such jurisdiction; or

(C) In the case that the legal entity has not been issued an IRS TIN or a foreign tax identification number, an entity registration number issued by a foreign jurisdiction and the name of such jurisdiction; and

(3) The following information for a transferor that is a trust:

(i) Full legal name, such as the full title of the agreement establishing the trust;

(ii) Date the trust instrument was executed;

(iii) Unique identifying number, if any, consisting of:

(A) IRS TIN; or

(B) Where an IRS TIN has not been issued, a tax identification number issued by a foreign jurisdiction and the name of such jurisdiction;

(iv) For each individual who is a trustee of the trust:

(B) Current residential street address; and

(C) Unique identifying number consisting of:

(v) For each legal entity that is a trustee of the trust:

( 1 ) The street address that is the legal entity's principal place of business; and

( 2 ) If the principal place of business is not in the United States, the street address of the primary location in the United States where the legal entity conducts business, if any; and

( 1 ) An IRS TIN;

( 2 ) In the case that the legal entity has not been issued an IRS TIN, a tax identification number issued by a foreign jurisdiction and the name of such jurisdiction; or

( 3 ) In the case that the legal entity has not been issued an IRS TIN or a foreign tax identification number, an entity registration number issued by a foreign jurisdiction and the name of such jurisdiction.

(g) Information concerning the residential real property. For each residential real property that is the subject of the reportable transfer, the reporting person shall report:

(1) The street address, if any;

(2) The legal description, such as the section, lot, and block; and

(3) The date of closing.

(h) Information concerning payments. (1) The reporting person shall report the following information concerning each payment, other than a payment disbursed from an escrow or trust account held by a transferee entity or transferee trust, that is made by or on behalf of the transferee entity or transferee trust regarding a reportable transfer:

(i) The amount of the payment;

(ii) The method by which the payment was made;

(iii) If the payment was paid from an account held at a financial institution, the name of the financial institution and the account number; and

(iv) The name of the payor on any wire, check, or other type of payment if the payor is not the transferee entity or transferee trust.

(2) The reporting person shall report the total consideration paid or to be paid by the transferee entity or transferee trust regarding the reportable transfer, as well as the total consideration paid by or to be paid by all transferees regarding the reportable transfer.

(i) Information concerning hard money, private, and other similar loans. The reporting person shall report whether the reportable transfer involved credit extended by a person that is not a financial institution with an obligation to maintain an anti-money laundering program and an obligation to report suspicious transactions under this chapter.

(j) Reasonable reliance —(1) General. Except as described in paragraph (j)(2) of this section, the reporting person may rely upon information provided by other persons, absent knowledge of facts that would reasonably call into question the ( print page 70293) reliability of the information provided to the reporting person.

(2) Certification when reporting beneficial ownership information. For purposes of reporting information described in paragraphs (e)(1)(ii) and (e)(2)(iii) of this section, the reporting person may rely upon information provided by the transferee or a person representing the transferee in the reportable transfer, absent knowledge of facts that would reasonably call into question the reliability of the information provided to the reporting person, if the person providing the information certifies the accuracy of the information in writing to the best of the person's knowledge.

(k) Filing procedures —(1) What to file. A reportable transfer shall be reported by completing a Real Estate Report.

(2) Where to file. The Real Estate Report shall be filed electronically with FinCEN, as indicated in the instructions to the report.

(3) When to file. A reporting person is required to file a Real Estate Report by the later of either:

(i) the final day of the month following the month in which the date of closing occurred; or

(ii) 30 calendar days after the date of closing.

(l) Retention of records. A reporting person shall maintain a copy of any certification described in paragraph (j)(2) of this section. In addition, all parties to a designation agreement described in paragraph (c)(4) of this section shall maintain a copy of such designation agreement.

(m) Exemptions —(1) Confidentiality. Reporting persons, and any director, officer, employee, or agent of such persons, and Federal, State, local, or Tribal government authorities, are exempt from the confidentiality provision in 31 U.S.C. 5318(g)(2) that prohibits the disclosure to any person involved in a suspicious transaction that the transaction has been reported or any information that otherwise would reveal that the transaction has been reported.

(2) Anti-money laundering program. A reporting person under this section is exempt from the requirement to establish an anti-money laundering program, in accordance with 31 CFR 1010.205(b)(1)(v) .

(n) Definitions. For purposes of this section, the following terms have the following meanings.

(1) Beneficial owner —(i) Beneficial owners of transferee entities. (A) The beneficial owners of a transferee entity are the individuals who would be the beneficial owners of the transferee entity on the date of closing if the transferee entity were a reporting company under 31 CFR 1010.380(d) on the date of closing.

(B) The beneficial owners of a transferee entity that is established as a non-profit corporation or similar entity, regardless of jurisdiction of formation, are limited to individuals who exercise substantial control over the entity, as defined in 31 CFR 1010.380(d)(1) on the date of closing.

(ii) Beneficial owners of transferee trusts. The beneficial owners of a transferee trust are the individuals who fall into one or more of the following categories on the date of closing:

(A) A trustee of the transferee trust.

(B) An individual other than a trustee with the authority to dispose of transferee trust assets.

(C) A beneficiary who is the sole permissible recipient of income and principal from the transferee trust or who has the right to demand a distribution of, or withdraw, substantially all of the assets from the transferee trust.

(D) A grantor or settlor who has the right to revoke the transferee trust or otherwise withdraw the assets of the transferee trust.

(E) A beneficial owner of any legal entity that holds at least one of the positions in the transferee trust described in paragraphs (n)(1)(ii)(A) through (D) of this section, except when the legal entity meets the criteria set forth in paragraphs (n)(10)(ii)(A) through (P) of this section. Beneficial ownership of any such legal entity is determined under 31 CFR 1010.380(d) , utilizing the criteria for beneficial owners of a reporting company.

(F) A beneficial owner of any trust that holds at least one of the positions in the transferee trust described in paragraphs (n)(1)(ii)(A) through (D) of this section, except when the trust meets the criteria set forth in paragraphs (n)(11)(ii)(A) through (D). Beneficial ownership of any such trust is determined under this paragraph (n)(1)(ii), utilizing the criteria for beneficial owners of a transferee trust.

(2) Closing or settlement agent. The term “closing or settlement agent” means any person, whether or not acting as an agent for a title agent or company, a licensed attorney, real estate broker, or real estate salesperson, who for another and with or without a commission, fee, or other valuable consideration and with or without the intention or expectation of receiving a commission, fee, or other valuable consideration, directly or indirectly, provides closing or settlement services incident to the transfer of residential real property.

(3) Closing or settlement statement. The term “closing or settlement statement” means the statement of receipts and disbursements prepared for the transferee for a transfer of residential real property.

(4) Date of closing. The term “date of closing” means the date on which the transferee entity or transferee trust receives an ownership interest in residential real property.

(5) Non-financed transfer. The term “non-financed transfer” means a transfer that does not involve an extension of credit to all transferees that is:

(i) Secured by the transferred residential real property; and

(ii) Extended by a financial institution that has both an obligation to maintain an anti-money laundering program and an obligation to report suspicious transactions under this chapter.

(6) Ownership interest. The term “ownership interest” means the rights held in residential real property that are demonstrated:

(i) Through a deed, for a reportable transfer described in paragraph (b)(1)(i), (ii), or (iii) of this section; or

(ii) Through stock, shares, membership, certificate, or other contractual agreement evidencing ownership, for a reportable transfer described in paragraph (b)(1)(iv) of this section.

(7) Recordation office. The term “recordation office” means any State, local, Territory and Insular Possession, or Tribal office for the recording of reportable transfers as a matter of public record.

(8) Signing individual. The term “signing individual” means each individual who signed documents on behalf of the transferee as part of the reportable transfer. However, it does not include any individual who signed documents as part of their employment with a financial institution that has both an obligation to maintain an anti-money laundering program and an obligation to report suspicious transactions under this chapter.

(9) Statutory trust. The term “statutory trust” means any trust created or authorized under the Uniform Statutory Trust Entity Act or as enacted by a State. For the purposes of this subpart, statutory trusts are transferee entities.

(10) Transferee entity. (i) Except as set forth in paragraph (n)(10)(ii) of this section, the term “transferee entity” means any person other than a transferee trust or an individual.

(ii) A transferee entity does not include:

(A) A securities reporting issuer defined in 31 CFR 1010.380(c)(2)(i) ; ( print page 70294)

(B) A governmental authority defined in 31 CFR 1010.380(c)(2)(ii) ;

(C) A bank defined in 31 CFR 1010.380(c)(2)(iii) ;

(D) A credit union defined in 31 CFR 1010.380(c)(2)(iv) ;

(E) A depository institution holding company defined in 31 CFR 1010.380(c)(2)(v) ;

(F) A money service business defined in 31 CFR 1010.380(c)(2)(vi) ;

(G) A broker or dealer in securities defined in 31 CFR 1010.380(c)(2)(vii) ;

(H) A securities exchange or clearing agency defined in 31 CFR 1010.380(c)(2)(viii) ;

(I) Any other Exchange Act registered entity defined in 31 CFR 1010.380(c)(2)(ix) ;

(J) An insurance company defined in 31 CFR 1010.380(c)(2)(xii) ;

(K) A State-licensed insurance producer defined in 31 CFR 1010.380(c)(2)(xiii) ;

(L) A Commodity Exchange Act registered entity defined in 31 CFR 1010.380(c)(2)(xiv) ;

(M) A public utility defined in 31 CFR 1010.380(c)(2)(xvi) ;

(N) A financial market utility defined in 31 CFR 1010.380(c)(2)(xvii) ;

(O) An investment company as defined in section 3(a) of the Investment Company Act of 1940 ( 15 U.S.C. 80a-3(a) ) that is registered with the Securities and Exchange Commission under section 8 of the Investment Company Act ( 15 U.S.C. 80a-8 ); and

(P) Any legal entity controlled or wholly owned, directly or indirectly, by an entity described in paragraphs (n)(10)(ii)(A) through (O) of this section.

(11) Transferee trust. (i) Except as set forth in paragraph (n)(11)(ii) of this section, the term “transferee trust” means any legal arrangement created when a person (generally known as a grantor or settlor) places assets under the control of a trustee for the benefit of one or more persons (each generally known as a beneficiary) or for a specified purpose, as well as any legal arrangement similar in structure or function to the above, whether formed under the laws of the United States or a foreign jurisdiction. A trust is deemed to be a transferee trust regardless of whether residential real property is titled in the name of the trust itself or in the name of the trustee in the trustee's capacity as the trustee of the trust.

(ii) A transferee trust does not include:

(A) A trust that is a securities reporting issuer defined in 31 CFR 1010.380(c)(2)(i) ;

(B) A trust in which the trustee is a securities reporting issuer defined in 31 CFR 1010.380(c)(2)(i) ;

(C) A statutory trust; or

(D) An entity wholly owned by a trust described in paragraphs (n)(11)(ii)(A) through (C) of this section.

Andrea M. Gacki,

Director, Financial Crimes Enforcement Network.

1.  Section 6101 of the AML Act, codified at 31 U.S.C. 5318(h) , amended the BSA's requirement that financial institutions implement AML programs to also combat terrorist financing. This rule refers to “AML/CFT program” in reference to the current obligation contained in the BSA.

2.   31 U.S.C. 5312(a)(2)(U) .

3.   See 31 U.S.C. 5311 . Section 6003(1) of the Anti-Money Laundering Act of 2020 defines the BSA as section 21 of the Federal Deposit Insurance Act ( 12 U.S.C. 1829b ), Chapter 2 of Title I of Public Law 91-508 ( 12 U.S.C. 1951 et seq. ), and 31 U.S.C. chapter 53 , subchapter II. AML Act, Public Law 116-283 , Division F, section 6003(1) (Jan. 1, 2021). Under this definition, the BSA is codified at 12 U.S.C. 1829b and 1951-1960 , and 31 U.S.C. 5311-5314 and 5316-5336 , including notes thereto. Its implementing regulations are found at 31 CFR Chapter X .

4.   31 U.S.C. 5311(1) .

5.  Treasury Order 180-01, Paragraph 3(a) (Jan. 14, 2020), available at https://home.treasury.gov/​about/​general-information/​orders-and-directives/​treasury-order-180-01 .

6.   31 U.S.C. 5318(h)(1)(A)-(D) .

7.   31 U.S.C. 5318(g) .

8.   31 U.S.C. 5312(a)(2)(U) .

9.   31 U.S.C. 5318(g)(1)(A) .

10.   31 U.S.C. 5318(g)(5)(B)(i)-(iii) .

11.   See AML Act, section 6202 ( codified at 31 U.S.C. 5318(g)(D)(i)(1) ). Section 6102(c) of the AML Act also amended 31 U.S.C. 5318(a)(2) to give the Secretary the authority to “require a class of domestic financial institutions or nonfinancial trades or businesses to maintain appropriate procedures, including the collection and reporting of certain information as the Secretary of the Treasury may prescribe by regulation, to . . . guard against money laundering, the financing of terrorism, or other forms of illicit finance.” FinCEN believes this authority also provides an additional basis for the reporting requirement adopted in this final rule.

12.  As the Financial Action Task Force (FATF) noted in July 2022, “[d]isparities with rules surrounding legal structures across countries means property can often be acquired abroad by shell companies or trusts based in secrecy jurisdictions, exacerbating the risk of money laundering.” International bodies, such as the FATF have found that “[s]uccessful AML/CFT supervision of the real estate sector must contend with the obfuscation of true ownership provided by legal entities or arrangements[.]” FATF, “Guidance for a Risk Based Approach: Real Estate Sector” (July 2022), p. 17, available at https://www.fatf-gafi.org/​content/​dam/​fatf-gafi/​guidance/​RBA-Real-Estate-Sector.pdf.coredownload.pdf ; see, e.g., U.S. v. Delgado, 653 F.3d 729 (8th Cir. 2011) (drug trafficking, money laundering); U.S. v. Fernandez, 559 F.3d 303 (5th Cir. 2009) (drug trafficking, money laundering); Complaint for Forfeiture, U.S. v. All the Lot or Parcel of Land Located at 19 Duck Pond Lane Southampton, New York 11968, Case No. 1:23-cv-01545 (S.D.N.Y. Feb. 24, 2023) (sanctions evasion); Indictment and Forfeiture, U.S. v. Maikel Jose Moreno Perez, Case No. 1:23-cr-20035-RNS (S.D. Fla. Jan. 26, 2023) (bribery, money laundering, conspiracy); Motion for Preliminary Order of Forfeiture and Preliminary Order of Forfeiture, U.S. v. Colon, Case No. 1:17-cr-47-SB (D. Del. Nov. 18, 2022) (drug trafficking, money laundering); U.S. v. Andrii Derkach, 1:2022-cr-00432 (E.D.N.Y. Sept. 26, 2022) (sanctions evasion, money laundering, bank fraud); Doc. No. 10 at p. 1, U.S. vs. Ralph Steinmann and Luis Fernando Vuiz, 1:2022-cr-20306 (S.D. Fla. July 12, 2022) (bribery, money laundering); U.S. v. Jimenez, Case No. 1:18-cr-00879, 2022 U.S. Dist. LEXIS 77685, 2022 WL 1261738 (S.D.N.Y. Apr. 28, 2022) (false claim fraud, wire fraud, money laundering, identity theft); Complaint for Forfeiture, U.S. v. Real Property Located in Potomac, Maryland, Commonly Known as 9908 Bentcross Drive, Potomac, MD 20854, 8:2020-cv-02071 (D. Md. July 15, 2020) (public corruption, money laundering); Final Order of Forfeiture, U.S. v. Raul Torres, Case No. 1:19-cr-390 (N.D. Ohio Mar. 30, 2020) (operating an animal fighting venture, operating an unlicensed money services business, money laundering); U.S. v. Bradley, Case No. 3:15-cr-00037-2, 2019 U.S. Dist. LEXIS 141157, 2019 WL 3934684 (M.D. Tenn. Aug. 20, 2019) (drug trafficking, money laundering); Indictment, U.S. v. Patrick Ifediba, et al., Case No. 2:18-cr-00103-RDP-JEO, Doc. 1 (N.D. Ala. Mar. 29, 2018) (health care fraud); Redacted Indictment, U.S. v. Paul Manafort, Case 1:18-cr-00083-TSE (E.D. Va. Feb. 26, 2018) (money laundering, acting as an unregistered foreign agent); U.S. v. Miller, 295 F. Supp. 3d 690 (E.D. Va. 2018) (wire fraud); U.S. v. Coffman, 859 F. Supp. 2d 871 (E.D. Ky. 2012) (mail, wire, and securities fraud); U.S. v. 10.10 Acres Located on Squires Rd., 386 F. Supp. 2d 613 (M.D.N.C. 2005) (drug trafficking); Atty. Griev. Comm'n of Md. v. Blair, 188 A.3d 1009 (Md. Ct. App. 2018) (money laundering drug trafficking proceeds); State v. Harris, 861 A.2d 165 (NJ Super. Ct. App. Div. 2004) (money laundering, theft); U.S. Department of Justice, Press Release, “Associate of Sanctioned Oligarch Indicted for Sanctions Evasion and Money Laundering: Fugitive Vladimir Vorontchenko Aided in Concealing Luxury Real Estate Owned by Viktor Vekselberg” (Feb. 7, 2023), available at https://www.justice.gov/​usao-sdny/​pr/​associate-sanctioned-oligarch-indicted-sanctions-evasion-and-money-laundering ; U.S. Department of Justice, Press Release, United States Reaches Settlement to Recover More Than $700 Million in Assets Allegedly Traceable to Corruption Involving Malaysian Sovereign Wealth Fund (Oct. 30, 2019), available at https://www.justice.gov/​opa/​pr/​united-states-reaches-settlement-recover-more-700-million-assets-allegedly-traceable ; U.S. Department of Justice, Press Release, “Acting Manhattan U.S. Attorney Announces $5.9 Million Settlement of Civil Money Laundering And Forfeiture Claims Against Real Estate Corporations Alleged to Have Laundered Proceeds of Russian Tax Fraud” (May 12, 2017), available at https://www.justice.gov/​usao-sdny/​pr/​acting-manhattan-us-attorney-announces-59-million-settlement-civil-money-laundering-and .

13.  As explained in the notice of proposed rulemaking (NPRM) issued on February 16, 2024, while other investigative methods and databases may be available to law enforcement seeking information concerning persons involved in non-financed transfers of residential real property, the information obtained through such investigative methods or the databases themselves are often incomplete, unreliable, and diffuse, resulting in misalignment between those methods or sources and the potential risks posed by the transfers. For example, the non-uniformity of the title transfer processes across states and the fact that the recording of title information is largely done at the local level complicates and hinders investigative efforts. To presently verify how many non-financed purchases of residential real property a known illicit actor has made, law enforcement may have to issue subpoenas and travel to multiple jurisdictions—assuming that they are known—to obtain the relevant information. Law enforcement is also likely to experience difficulty in finding beneficial ownership information for legal entities or trusts not registered in the United States which have engaged in non-financed transfers of residential real estate. Furthermore, existing commercial databases do not collect much of the information that is the focus of this rule, such as that involving funds transfers. In these respects, a search of Real Estate Reports would be a far more efficient and complete mechanism. See FinCEN, NPRM, “Anti-Money Laundering Regulations for Residential Real Estate Transfers,” 89 FR 12424 , 12430 (Feb. 16, 2024).

14.   See 31 U.S.C. 5326 ; 31 CFR 1010.370 ; Treasury Order 180-01 (Jan. 14, 2020), available at https://home.treasury.gov/​about/​general-information/​orders-and-directives/​treasury-order-180-01 . In general, a GTO is an order administered by FinCEN which, for a finite period of time, imposes additional recordkeeping or reporting requirements on domestic financial institutions or other businesses in a given geographic area, based on a finding that the additional requirements are necessary to carry out the purposes of, or to prevent evasion of, the BSA. The statutory maximum duration of a GTO is 180 days, though it may be renewed.

15.  Global Financial Integrity, “Acres of Money Laundering: Why U.S. Real Estate is a Kleptocrat's Dream” (Aug. 2021), p. 26, available at https://gfintegrity.org/​report/​acres-of-money-laundering-why-u-s-real-estate-is-a-kleptocrats-dream/​ . According to its website, Global Financial Integrity is “a Washington, DC-based think tank focused on illicit financial flows, corruption, illicit trade and money laundering.” See Global Financial Integrity, “About,” available at https://gfintegrity.org/​about/​ .

16.   See supra note 13.

17.   See FinCEN, Advance Notice of Proposed Rulemaking, “Anti-Money Laundering Regulations for Real Estate Transactions,” 86 FR 69589 (Dec. 8, 2021).

18.  Through the proposed reporting cascade hierarchy, a real estate professional would be a reporting person required to file a report and keep records for a given transfer if the person performs a function described in the cascade and no other person performs a function described higher in the cascade. For example, if no person is involved in the transfer as described in the first tier of potential reporting persons, the reporting obligation would fall to the person involved in the transfer as described in the second tier of potential reporting persons, if any, and so on. The reporting cascade includes only persons engaged as a business in the provision of real estate closing and settlement services within the United States.

19.   31 U.S.C. 5312(a)(2)(U) ; see FinCEN, NPRM, “Anti-Money Laundering Regulations for Residential Real Estate Transfers,” 89 FR 12424 , 12427 (Feb. 16, 2024).

20.   See 31 U.S.C. 5318(g) .

21.   See California Bankers Ass'n v. Shultz, 416 U.S. 21 (1974); U.S. v. Miller, 425 U.S. 435 (1976).

22.   15 U.S.C. 6802(e)(5) .

23.   See FinCEN NPRM, “Anti-Money Laundering Regulations for Residential Real Estate Transfers,” 89 FR 12424 , 12447-12448 (Feb. 16, 2024).

24.   See, e.g., In re Grand Jury Subpoenas, 906 F.2d 1485, 1488 (10th Cir. 1990) (collecting cases).

25.   See; U.S. v. Sindel, 53 F.3d 874, 876 (8th Cir. 1995); U.S. v. Blackman, 72 F.3d 1418, 1424-25 (9th Cir. 1995); U.S. v. Ritchie, 15 F.3d 592, 602 (6th Cir. 1994); U.S. v. Leventhal, 961 F.2d 936, 940 (11th Cir. 1992); U.S. v. Goldberger & Dubin, P.C., 935 F.2d 501, 505 (2d Cir. 1991); In re Grand Jury Subpoenas, 906 F.2d 1485, 1492 (10th Cir. 1990).

26.   31 CFR 1010.230(b)(2) .

27.  Discussed below in Section III.C.2.b.

28.   31 U.S.C. 5321 .

29.   31 U.S.C. 5322 .

30.   31 U.S.C. 5321 ; 31 CFR 1010.821 .

31.   See FinCEN, “Financial Crimes Enforcement Network (FinCEN) Statement on Enforcement of the Bank Secrecy Act” (Aug. 18, 2020), available at https://www.fincen.gov/​sites/​default/​files/​shared/​FinCENEnforcementStatement_​FINAL508.pdf .

32.  The BOI Reporting Rule implements the CTA's reporting provisions. In recognition of the fact that illicit actors frequently use corporate structures to obfuscate their identities and launder ill-gotten gains, the BOI Reporting Rule requires certain legal entities to file reports with FinCEN that identify their beneficial owners. See FinCEN, “Beneficial Ownership Information Reporting Requirements,” 87 FR 59498 (Sept. 30, 2022). Access by authorized recipients to beneficial ownership information collected under the CTA are governed by other FinCEN regulations. See FinCEN, “Beneficial Ownership Information Access and Safeguards,” 88 FR 88732 (Dec. 22, 2023).

33.   See FinCEN, NPRM, “Beneficial Ownership Information Reporting Requirements,” 86 FR 69920 (Dec. 8, 2021).

34.  The CTA is Title LXIV of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021, Public Law 116-283 (Jan. 1, 2021) (the NDAA). Division F of the NDAA is the Anti-Money Laundering Act of 2020, which includes the CTA. Section 6403 of the CTA, among other things, amends the Bank Secrecy Act (BSA) by adding a new section 5336, Beneficial Ownership Information Reporting Requirements, to subchapter II of chapter 53 of title 31, United States Code.

35.   See 31 CFR 1010.380(b)(1)(i) .

36.   31 CFR 1010.380(d)(3)(ii) .

37.  In a 1031 Exchange, real property held for productive use in a trade or business or held for investment is exchanged for other business or investment property that is the same type or kind; as a result, the person conducting the exchange is not required to realize taxable gain or loss as part of the exchange. To avoid the exchange being disqualified, a qualified intermediary may be used to ensure that the exchanger avoids taking premature control of the proceeds from the sale of the relinquished property or, in a reverse 1031 Exchange in which the replacement property is identified and purchased before the original property is relinquished, ownership of the replacement property.

38.  The current Residential Real Estate GTO threshold is $300,000 for all covered jurisdictions, except for in the City and County of Baltimore, where the threshold is $50,000.

39.   See 29 CFR 1.6045-4 (Information reporting on real estate transactions with dates of closing on or after January 1, 1991).

40.   See FinCEN, “Beneficial Ownership Information Access and Safeguards,” 88 FR 88732 (Dec. 22, 2023).

41.  FinCEN, “Notice of a New System of Records,” 88 FR 62889 (Sept. 13, 2023).

42.   U.S. v. Miller, 425 U.S. 435 (1976).

43.   E.O. 12866 , 58 FR 51735 (Oct. 4, 1993), section 3(f)(1); E.O. 14094 , 88 FR 21879 (Apr. 11, 2023), section 1(b).

44.   See Section VI.A.1.

45.  Broadly, the anticipated economic value of a rule can be measured by the extent to which it might reasonably be expected to resolve or mitigate the economic problems identified by such review.

46.   See Section VI.A.2.

47.   See Section VI.A.3.

48.   See Section VI.A.4.

49.   See Section VI.A.5.

50.   See FinCEN, NPRM, “Anti-Money Laundering Regulations for Residential Real Estate Transfers,” 89 FR 12424 (Feb. 16, 2024).

51.  Office of Management and Budget, Circular A-4 (Nov. 9, 2023), available at https://www.whitehouse.gov/​wp-content/​uploads/​2023/​11/​CircularA-4.pdf .

52.   See National Association of Realtors, “Anti-Money Laundering Voluntary Guidelines for Real Estate Professionals” (Feb. 16, 2021), p. 3, available at https://www.narfocus.com/​billdatabase/​clientfiles/​172/​4/​1695.pdf .

53.   See Section III.C.5.c.

54.  FinCEN, “Customer Due Diligence Requirements for Financial Institutions,” 81 FR 29398 (May 11, 2016).

55.  Reportable real estate for purposes of IRS Form 1099-S includes, for example, commercial and industrial buildings (without a residential component) and non-contingent interests in standing timber, which are not covered under the rule.

56.   See Matthew Collin, Florian Hollenbach, and David Szakonyi, “The impact of beneficial ownership transparency on illicit purchases of U.S. property,” Brookings Global Working Paper #170, (Mar. 2022), p. 14, available at https://www.brookings.edu/​wp-content/​uploads/​2022/​03/​Illicit-purchases-of-US-property.pdf .

57.  Zillow, Transaction and Assessment Database (ZTRAX), available at https://www.zillow.com/​research/​ztrax/​ .

58.   See Redfin, “Investors Bought 26% of the Country's Most Affordable Homes in the Fourth Quarter—the Highest Share on Record,” (Feb. 14, 2024), available at https://www.redfin.com/​news/​investor-home-purchases-q4-2023/​ .

59.   See Section III.C.2.e.

60.  FinCEN notes that while most trusts are not reporting companies under the BOI Reporting Rule, a reporting company would be required to report a beneficial owner that owned or controlled the reporting company through a trust.

61.  FinCEN notes that while the U.S. Census Bureau does produce annual statistics on the population of certain trusts (NAICS 525—Funds, Trusts, and Other Financial Vehicles), such trusts are unlikely to be affected by the rule and thus their population size is not informative for this analysis.

62.   See, e.g., Cristian Badrinza and Tarun Ramadorai, “Home away from home? Foreign demand and London House prices,” Journal of Financial Economics 130 (3) (2018), pp. 532-555, available at https://www.sciencedirect.com/​science/​article/​abs/​pii/​S0304405X18301867?​via%3Dihub ; see also Caitlan S. Gorback and Benjamin J. Keys, “Global Capital and Local Assets: House Prices, Quantities, and Elasticities,” Technical Report, National Bureau of Economic Research (2020), available at https://www.nber.org/​papers/​w27370 .

63.   See Matthew Collin, Florian Hollenbach, and David Szakonyi, “The impact of beneficial ownership transparency on illicit purchases of U.S. property,” Brookings Global Working Paper #170, (Mar. 2022), p. 14, available at https://www.brookings.edu/​wp-content/​uploads/​2022/​03/​Illicit-purchases-of-US-property.pdf .

64.   See U.S. Census Bureau, Rental Housing Finance Survey (2021), available at https://www.census.gov/​data-tools/​demo/​rhfs/​#/​?s_​year=​2018&​s_​type=​1&​s_​tableName=​TABLE2 .

65.   See U.S. Securities and Exchange Commission, “Officers, Directors, and 10% Shareholders,” available at https://www.sec.gov/​education/​smallbusiness/​goingpublic/​officersanddirectors .

66.   See, e.g., U.S. Securities and Exchange Commission, Instructions to Item 2.01 on Form 8-K; see also 17 CFR 210.3-14 .

67.   See supra Section III.C.3.a for a description of the reporting cascade; see also proposed 31 CFR 1031.320(c)(1) .

68.   See Nam D. Pham, “The Economic Contributions of the Land Title Industry to the U.S. Economy,” ndp Consulting (Nov. 2012), p. 6, available at https://papers.ssrn.com/​sol3/​papers.cfm?​abstract_​id=​2921931 . This study was included as an appendix to a 2012 American Land Title Association comment letter submitted to the Consumer Financial Protection Bureau (CFPB) on the Real Estate Settlement Procedures Act (RESPA).

69.  FinCEN notes that the capacity in which a reporting person facilitates a residential real property transfer may not always be in the capacity of their primary occupation. However, as analysis here relies on the U.S. Census Bureau's annual Statistics of U.S. Business Survey, which is organized by NAICS code, the following nominal primary occupations (NAICS codes) are used for grouping and counting purposes: Title Abstract and Settlement Offices (541191), Direct Title Insurance Carriers (524127), Other Activities Related to Real Estate (531390), Offices of Lawyers (541110), and Offices of Real Estate Agents and Brokers (531210). As noted in note 73, these NAICS codes are not the basis for hourly wage rate information used in this paragraph.

70.  The estimate of affected attorneys is calculated as ten percent of the total SUSB population of Offices of Lawyers. This estimate is based on the average from FinCEN analysis of U.S. legal bar association membership, performed primarily at the State level, identifying the proportion of (state) bar members that are members of the organization's (state's) real estate bar association. FinCEN considers this proxy more likely to overestimate than underestimate the number of potentially affected attorneys because, while not all members of a real estate bar association actively facilitate real estate transfers each year, it was considered less likely that an attorney would, in a given year, facilitate real estate transfers in a way that would make them a candidate reporting person for purposes of the proposed rule when such an attorney had not previously indicated an interest in real estate specific practice (by electing to join a real estate bar).

71.  NAICS Code 531210 (Offices of Real Estate Agents and Brokers).

72.  Fully loaded wages are scaled by a benefits factor. The ratio between benefits and wages for private industry workers is (hourly benefits (11.86))/(hourly wages (28.37)) = 0.42, as of December 2023. The benefit factor is 1 plus the benefit/wages ratio, or 1.42. See U.S. Bureau of Labor Statistics, “ Employer Costs for Employee Compensation Historical Listing,” available at https://www.bls.gov/​web/​ecec/​ececqrtn.pdf . The private industry workers series data for December 2023 is available at https://www.bls.gov/​web/​ecec/​ececqrtn.pdf .

73.  Because available wage estimates are not available for each SUSB category at the 6-digit NAICS level, FinCEN has estimated average wages over the collection of occupational subcategories likely to be affected for each corresponding category at the next most granular NAICS-level available.

74.  Wage estimates presented here, and used throughout the subsequent analysis, reflect two forms of updating from the NPRM: (1) wage data has been updated to reflect the BLS publication of the May 2023 National Occupational Employment and Wage Estimates in April 2024, (2) responsive to public comments that the previous wage estimates (based on national mean wages) might contribute to an underestimate of time cost burdens, FinCEN is electing to conservatively adopt 90th-percentile values of occupational wages in place of mean hourly wage.

75.   See American Land Title Association, Home Closing 101, “Why 20% of Homeowners May Not Sleep Tonight,” (June 3, 2020),available at https://www.homeclosing101.org/​why-20-percent-of-homeowners-may-not-sleep-tonight/​ .

76.   See FinCEN, NPRM, “Anti-Money Laundering Regulations for Residential Real Estate Transfers,” 89 FR 12424 , 12446-12447 (Feb. 16, 2024).

77.  Based on the observation that the midpoint values of first year ($559.4 million), subsequent year ($532.2 million), and the midpoint of the midpoint values between first and subsequent years ($545.8 million) are all approximately $500 million. See also infra Section VI.B for a discussion of annualized cost.

78.  Based on a comment that the initial training should be 120 minutes (2 hours).

79.  Based on a comment that the initial training should be double what FinCEN estimated (150 minutes, or 2.5 hours).

80.  Based on a comment that training would take 60 minutes (1 hour) per transfer, where FinCEN applies the lowest wage rate to the lower bound estimate of total annual reportable transfers to obtain the lower bound and applies the highest wage rate to the upper bound estimate of total annual reportable transfers to obtain the upper bound.

81.  Technological implementation for a new reporting form contemplates expenses related to development, operations, and maintenance of system infrastructure, including design, deployment, and support, such as a help desk. It includes an anticipated processing cost of $0.10 per submitted Real Estate Report.

82.  FinCEN, “Congressional Budget Justification and Annual Performance Plan and Report FY 2024” (2023), available at https://home.treasury.gov/​system/​files/​266/​15.-FinCEN-FY-2024-CJ.pdf .

83.   E.O. 14094 sets the threshold that triggers regulatory impact analytical requirements at $200 million in expected annual burden.

84.   E.O. 13563 , 76 FR 3821 (Jan. 21, 2011), § 1(c) (“Where appropriate and permitted by law, each agency may consider (and discuss qualitatively) values that are difficult or impossible to quantify, including equity . . . and distributive impacts.”)

85.   See Office of Management and Budget, “Circular A-4—Subject: Regulatory Analysis,” (Sept. 17, 2003), available at https://obamawhitehouse.archives.gov/​omb/​circulars_​a004_​a-4/​ .

86.  The midpoint value of estimated first year costs is $559.4 million; see supra note 76.

87.  The midpoint value of estimated subsequent year costs is $532.2 million; see supra note 76.

88.   5 U.S.C. 601 et seq.

89.   See FinCEN, NPRM, “Anti-Money Laundering Regulations for Residential Real Estate Transfers,” 89 FR 12424 , 12458 (Feb. 16, 2024) (finding that “an upper bound of potentially affected small entities includes approximately 160,800 firms (by the following primary business classifications: approximately 6,300 Title and Settlement Agents, 800 Direct Title Insurance Carriers, 18,000 persons performing Other Activities Related to Real Estate, 15,700 Offices of Lawyers, and 120,000 Offices of Real Estate Agents and Brokers),” though “the point estimates differ non-trivially by how `small' is operationally defined, and do not do so unidirectionally across methodologies and data sources”).

90.   Id. at 12452.

91.   See U.S. Small Business Administration, “How to Comply with the Regulatory Flexibility Act,” p.44, n.144 (Aug. 2017), available at https://advocacy.sba.gov/​wp-content/​uploads/​2019/​07/​How-to-Comply-with-the-RFA-WEB.pdf (stating that “The Office of Advocacy believes that, given the emphasis in the law on public notice, the certification should also appear in the final rule even though there may have already been a certification in the proposed rule. Doing so will help demonstrate the continued validity of the certification after receipt of public comments”).

92.  When certifying at the NPRM stage, FinCEN discussed the basis on which its expectations were formed by considering the spectrum of potential burdens and costs a small business might incur as a result of the rule. This included considering the outcomes on businesses that would either incur no change in burden, a partial increase in burden, or the full increase in burden contemplated by the rule. In this analysis, FinCEN estimated that the incremental burden of complying with the rule would equate to an approximately 0%, 0.2%, or 0.5% increase in the average annual payroll expense of one employee, respectively, and was therefore unlikely to be significant.

93.   See supra note 91.

94.  While FinCEN has raised its estimate of the maximum anticipated cost per transaction (from $363.17 to $628.39 for reporting persons and from an aggregate of $103.43 to $116.84 for the maximally inclusive number of non-reporting persons per transfer), the number of transactions to which the burden would apply (and could thereby become a transfer a small business would be required to report should it not enter into a designation agreement) is reduced.

95.   See 2 U.S.C. 1532(a) .

96.  The U.S. Bureau of Economic Analysis reported the annual value of the gross domestic product (GDP) deflator in 1995 (the year in which UMRA was enacted) as 66.939; and in 2023 as 123.273. See U.S. Bureau of Economic Analysis, “Table 1.1.9. Implicit Price Deflators for Gross Domestic Product” (accessed June 5, 2024). Thus, the inflation adjusted estimate for $100 million is 123.273 divided by 66.939 and then multiplied by 100, or $184.157 million.

97.   See generally Section VI.A.

98.  This estimate represents the upper bound estimate of reportable transfers per year as described in greater detail above in Section VI.A.2.

99.  This estimate includes the upper bound estimates of the time burden of compliance, as described in greater detail above, with the reporting and recordkeeping requirements. See Section VI.A.4.ii and Section VI.A.4.iii.

100.  This estimate includes the upper bound estimates of the wage and technology costs of compliance, as described in greater detail above, with the reporting and recordkeeping requirements. See Section VI.A.4.ii and Section VI.A.4.iii.

101.   5 U.S.C. 804(2) et seq.

102.   5 U.S.C. 801(a)(3) .

[ FR Doc. 2024-19198 Filed 8-28-24; 8:45 am]

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Top 10 Real Estate Executive Summary Templates with Samples and Examples

Ishan Basak

After a two-year slump in the real estate market brought on by a pandemic, the year 2022 gave some promise as most industries recovered from the Covid lows and experienced strong year-over-year growth. Industry experts predict that this growth trend will persist in the year 2023.

The real estate market has historically been impacted by issues including inflation, increased mortgage rates, and a shortage of available housing. It is, however, believed that the sector has greatly recovered, but with different trends.

Home buyers sought out larger, sustainable spaces with value-added services and facilities as a result of pandemic-induced trends like remote and hybrid working, thereby enhancing their and their investors’ well-being.

In such a scenario, if you wish to attract a buyer and investors to your property, presenting a clear and concise summary about the features and facilities makes sense. 

A real estate executive summary is a document that provides a brief overview of a specific real estate project or investment opportunity. It typically includes information on the property location, size, and type, as well as the project's financial projections and expected return on investment. The executive summary is often used to attract potential investors or lenders and to provide a high-level overview of the project's potential. It is a key document that is used to present the project to potential investors, lenders, and other stakeholders.

The goal is to persuade them to invest in the project, or to lend money to it, by highlighting the key benefits of the project, such as the potential for high returns on investment and the strategic location of the property.

Real Estate Executive Summary Templates

SlideTeam presets Top 10 Real Estate Executive Summary Templates for your next real estate business. Use these 100% editable, one-of-a-kind templates to impress potential clients and investors. 

(If you want to understand ‘Real Estate Investment Management’ better, go through its highly attractive yet informative templates in this guide .)

Let’s begin formulating your perfect real estate executive summary with SlideTeam’s best-in-class PPT Templates.

Template 1: Real Estate Startup One Page Executive Summary Template

There is plenty of room in this editable PowerPoint presentation to add the name and logo of your business. By using the images of your team members together with their names and roles, you can bring a personal touch to your presentation. Showcase how you plan to use or distribute the funds raised. Emphasize the arguments that will persuade your audience to choose you above the competition. This one-page business summary includes all of the information you need to deliver to your stakeholders. Download this unique template today!

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Template 2: Bi-Fold Real Estate Startup Executive Summary Document

Our Bi-fold Real Estate Startup Executive Summary Template is expertly crafted to give any subject a beautiful setting. This bi-fold document contains four slides that reflect what your business stands for. This A4 size layout, which has adjustable and adaptable design features, makes an excellent visual reporting and communication tool. This design is completely compatible with Google Slides and can be used to meet any commercial need. Get this now!

Template 3: Executive Summary Real Estate Industry PPT Template

By using this PPT Slide, you may increase audience engagement and knowledge holistically. You can deliver information in two stages using this template. Using this PPT design, you may also provide data on international real estate market analysis. This style is entirely changeable, so personalize it right away to satisfy the demands of your audience.

Template 4: Executive Summary Real Estate Industry PPT

To raise your presentation bar, we introduce the Commercial Real Estate Executive Summary Template. This template, which includes one stage, is a perfect choice for instructing and captivating your audience. Use this template to disperse information about the executive summary. To fully gain from it, seize it right away.

Template 5: Strategic Investment In Real Estate Executive Summary PPT

Introducing this set of PowerPoint slides with the title Strategic Investment In Real Estate Executive Summary. This slide covers the subjects of the real estate global market summary. You can download this PowerPoint presentation right away and alter it to your plan and content. Impress your audience by downloading this template now!

Template 6: Executive Summary Sales Real Estate Detailed Analysis PPT

This design, that lets you explain the information in a precise format, is a perfect choice for instructing and captivating your audience. Use this simple  template to disperse information about the executive summary in a foolproof manner. To fully gain from it, use it to its full potential. It provides ample space to spice it up with your compelling business ideas. The icons used here enhances its overall appearance.

Template 7: Executive Summary Commercial Real Estate Property Management PPT

To raise the bar of your presentations, introduce Executive Summary Commercial Real Estate Property Management Styles Maker. This design, which has two stages, is a perfect choice for informing and captivating your audience. Use this template to disperse information about the executive summary. To fully gain from it, seize it right away.

Template 8: Executive Summary Real Estate Management And Development PPT

With the help of this Executive Summary Real Estate Management And Development Portrait, elaborate on the subject. Utilize it as a conversation and navigational tool for the executive summary. You are allowed to modify this template as per your business needs. Download it right away.

Template 9: Executive Summary For Real Estate Property PPT

This presentation shows data on the financial ratios and acquisition cost of a real estate propert. Use this slide to present real estate property infographics and to go into more depth about the subject. Use it as a conversation tool and navigational aid for principal payment, cash on cash return, and financial ratios. Download it now to present your plan in well-organized manner.

Template 10:  Real Estate Construction Company Profile Executive Summary PPT

This slide presents the executive summary, which includes a description of the construction company, our services, statistical data, and accomplishments like the number of clients served, the number of projects completed annually, etc. Use the slides to provide facts and give a full overview of your services, your achievements, and your executive summary. Grab it now!

The Closing Link

An investment that really pays off is a real estate business concept. You will quickly become an expert if you use the top 10 templates listed above according to the needs of your company. You will gain an understanding of the real estate industry, your competitors, and your clients by using these templates. You can learn more about the processes required to start and expand your real estate business from these programs.

PS: If you are looking for a real estate development cover letter template, here’s a handy guide with amazing samples and examples.

What is an example of an executive summary?

Businesses frequently use the executive summary to obtain conventional finance from banks and other lenders. Effective executive summaries can persuade and rapidly explain the possible advantages of investment and aid in raising money.

The business plan's executive summary is a crucial and necessary component. It tries to grab the attention of the intended stakeholders by giving them a brief, succinct, and upbeat overview of the firm as well as a thoughtful insight into the essence of business. It should outline your company, the issue it addresses, its target audience, and key financial figures.

What are 6 things you should include in an executive summary?

• Give a high-level summary of the real estate sector.
• The title, address, and goals of your real estate business
• An overview of your real estate company, containing information about the management team, advisors, and history
• Describe the kind of real estate business you run. Give a brief description of your target market, and explain how your business is unique compared to others in the sector.
• Make a marketing plan that details the sales, partnering, and marketing tactics for your business.
• And describe your financial strategy in general.

What are the three most important things in real estate?

The three most crucial things in real estate, that contribute to decision-making are:

Property Location

The maxim "location, location, location" is still true and is still the most crucial element in real estate investing success. Residential property assessments heavily consider the status of the community, green space, scenic vistas, and proximity to amenities. When valuing commercial real estate, accessibility to markets, warehouses, transportation hubs, motorways, and tax-exempt regions is crucial.

Valuation of the Property

Real estate valuation is crucial for financing the purchase as well as listing price, investment research, insurance, and taxation—all of which rely on it.

Investment Purpose and Investment Horizon

Lack of clarity regarding aim may result in unanticipated outcomes, including financial distress—especially if the investment is mortgaged—given the low liquidity and high value of real estate.

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Blog Business 5 Real Estate Business Plan Examples & How to Create One?

5 Real Estate Business Plan Examples & How to Create One?

Written by: Danesh Ramuthi Nov 28, 2023

Crafting a business plan is essential for any business and the real estate sector is no exception. In real estate, a comprehensive business plan serves as a roadmap, delineating a clear path towards business growth. 

It guides owners, agents and brokers through various critical aspects such as identifying target markets, devising effective marketing strategies, planning finances and managing client relationships.

For real estate businesses, a well-written plan is crucial in attracting potential investors, showcasing the company’s mission statement, business model and long-term income goals.

So, how can you write one?

Leveraging tools like Venngage Business Plan Make r with their Business Plan Templates to create your own real estate business plan can be transformative.

They offer a lot of real estate business plan examples and templates, streamlining the process of crafting a comprehensive plan.

Click to jump ahead: 

• 5 real estate business plan examples

How to write a real estate business plan?

• Wrapping Up

5 Real estate business plan examples

As I have said before, a well-crafted business plan is a key to success. Whether you’re a seasoned agent or just starting out, examples of effective real estate business plans can offer invaluable insights. Along with a solid business plan, incorporating innovative real estate marketing ideas is crucial for standing out in this competitive market.

These examples showcase a range of strategies and approaches tailored to various aspects of the real estate market. They serve as guides to structuring a plan that addresses key components like market analysis, marketing strategies, financial planning and client management, ensuring a solid foundation for any real estate venture.

Real estate business plan example

There are various elements in a real estate business plan that must be integrated. Incorporating these elements into a real estate business plan ensures a comprehensive approach to launching and growing a successful real estate business. 

What are they?

• Executive summary: The executive summary is a concise overview of the real estate business plan. It highlights the mission statement, outlines the business goals and provides a snapshot of the overall strategy. 
• Company overview: An overview on the history and structure of the real estate business. It includes the company’s mission and vision statements, information about the founding team and the legal structure of the business. 
• Service: Here, the business plan details the specific services offered by the real estate agency. This could range from residential property sales and leasing to commercial real estate services. The section should clearly articulate how these services meet the needs of the target client and how they stand out from competitors.
• Strategies: A very crucial part of the plan outlines the strategies for achieving business goals. It covers marketing strategies to generate leads, pricing strategies for services, and tactics for effective client relationship management. Strategies for navigating market shifts, identifying key market trends and leveraging online resources for property listings and real estate listing presentations to help with lead generation are also included.
• Financial plan: The financial plan is a comprehensive section detailing the financial projections of the business. It includes income statements, cash flow statements , break-even analysis and financial goals. Besides, a financial plan section also outlines how resources will be allocated to different areas of the business and the approach to managing the financial aspects of the real estate market, such as average sales price and housing market trends.

Read Also: 7 Best Business Plan Software for 2023

Real estate investment business plan example

A real estate investment business plan is a comprehensive blueprint that outlines the goals and strategies of a real estate investment venture. It serves as a roadmap, ensuring that all facets of real estate investment are meticulously considered.

Creating a business plan for real estate investment is a critical step for any investor, regardless of their experience level Typically, these plans span one to five years, offering a detailed strategy for future company objectives and the steps required to achieve them.

Key components:

• Executive summary: Snapshot of the business, outlining its mission statement, target market, and core strategies. It should be compelling enough to attract potential investors and partners.
• Market analysis: A thorough analysis of the real estate market, including current trends, average sales prices and potential market shifts.
• Financial projections: Detailed financial plans, including income statements, cash flow analysis, and break-even analysis.
• Strategy & implementation: Outlines how the business plans to achieve its goals. This includes marketing efforts to generate leads, pricing strategies and client relationship management techniques.
• Legal structure & resource allocation: Details the legal structure of the business and how resources will be allocated across various operations, including property acquisitions, renovations and management.

Real estate agent business plan example

A real estate agent business plan is a strategic document that outlines the operations and goals of a real estate agent or agency. It is a crucial tool for communicating with potential lenders, partners or shareholders about the nature of the business and its potential for profitability.

A well-crafted real estate agent business plan will include

• Where you are today: A clear understanding of your current position in the market, including strengths, weaknesses and market standing.
• Where you aim to be: Sets specific, measurable goals for future growth, whether it’s expanding the client base, entering new markets or increasing sales.
• How can you get there: Outlines the strategies and action plans to achieve these goals, including marketing campaigns, client acquisition strategies and business development initiatives.
• Measuring your performance: Defines the key performance indicators (KPIs) and metrics to assess progress towards the set goals, such as sales figures, client satisfaction rates and market share.
• Course correction: Establishes a process for regular review and adjustment of the plan, ensuring flexibility to adapt to market changes, shifts in client needs and other external factors.

For real estate agents, a comprehensive business plan is not just a roadmap to success; it is a dynamic tool that keeps them accountable and adaptable to market changes.

Realtor business plan example

A realtor business plan is a comprehensive document that outlines the strategic direction and goals of a real estate business. It’s an essential tool for realtors looking to either launch or expand their business in the competitive real estate market. The plan typically includes details about the company’s mission, objectives, target market and strategies for achieving its goals.

Benefits of a realtor business plan and applications:

• For launching or expanding businesses: The plan helps real estate agents to structure their approach to entering new markets or growing in existing ones, providing a clear path to follow.
• Securing loans and investments: A well-drafted business plan is crucial for securing financing for real estate projects, such as purchasing new properties or renovating existing ones.
• Guideline for goal achievement: The plan serves as a guideline to stay on track with sales and profitability goals, allowing realtors to make informed decisions and adjust strategies as needed.
• Valuable for real estate investors: Investors can use the template to evaluate potential real estate businesses and properties for purchase, ensuring they align with their investment goals.
• Improving business performance: By filling out a realtor business plan template , realtors can gain insights into the strengths and weaknesses of their business, using this information to enhance profitability and operational efficiency.

A realtor business plan is more than just a document; it’s a roadmap for success in the real estate industry. 

Writing a real estate business plan is a comprehensive process that involves several key steps. Here’s a detailed guide to help you craft an effective business plan :

• Tell your story : Start with a self-evaluation. Define who you are as a real estate agent, why you are in this business and what you do. Develop your mission statement, vision statement and an executive summary​​.
• Analyze your target real estate market : Focus on local market trends rather than national or state-wide levels. Examine general trends, market opportunities, saturations, and local competition. This step requires thorough research into the real estate market you plan to operate in​​.
• Identify your target client : After understanding your market, identify the niche you aim to serve and the type of clients you want to target. Create a client persona that reflects their specific needs and concerns​​.
• Conduct a SWOT analysis : Analyze your business’s Strengths, Weaknesses, Opportunities and Threats. This should reflect a combination of personal attributes and external market conditions​​​​.
• Establish your SMART goals : Set specific, measurable, attainable, realistic and timely goals. These goals could be financial, expansion-related or based on other business metrics​​​​.
• Create your financial plan : Account for all operating expenses, including marketing and lead generation costs. Calculate the number of transactions needed to meet your financial goals. Remember to separate personal and business finances​​.
• Revisit your business plan to monitor & evaluate : Treat your business plan as a living document. Plan periodic reviews (quarterly, semi-annually or annually) to check if your strategies are advancing you toward your goals​​​​.
• Defining your mission & vision : Include a clear mission and vision statement. Describe your business type, location, founding principles and what sets you apart from competitors​​.
• Creating a marketing plan : Develop a marketing plan that addresses the product, price, place and promotion of your services. Determine your pricing strategy, promotional methods and marketing channels​​. If you’re unsure what marketing activities to choose, consider this guide on how to market yourself as a realtor .
• Forming a team : Ensure the cooperation of colleagues, supervisors and supervisees involved in your plan. Clarify their roles and how their participation will be evaluated​​.

Related: 15+ Business Plan Examples to Win Your Next Round of Funding

Wrapping up

The journey to a successful real estate venture is intricately linked to the quality and depth of your business plan. From understanding the nuances of the real estate market to setting strategic goals, a well-crafted business plan acts as the backbone of any thriving real estate business. Whether you’re developing a general real estate business plan, focusing on investment, working as an agent, or operating as a realtor, each plan type serves its unique purpose and addresses specific aspects of the real estate world.

The examples and insights provided in this article serve as a guide to help you navigate the complexities of the real estate industry. Remember, a real estate business plan is not a static document but a dynamic blueprint that evolves with your business and the ever-changing market trends.

Crafting a strategic real estate business plan is a crucial step towards achieving your business goals. So, start shaping your vision today with Venngage.

Explore venngage business plan maker & our business plan templates and begin your journey to a successful real estate business now!

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Real Estate Agency Business Plan Template & PDF Example

• August 26, 2024
• Business Plan

Creating a comprehensive business plan is crucial for launching and running a successful real estate agency. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your real estate agency’s identity, navigate the competitive market, and secure funding for growth.

This article not only breaks down the critical components of a real estate agency business plan, but also provides an example of a business plan to help you craft your own.

Whether you’re an experienced entrepreneur or new to the real estate industry, this guide, complete with a business plan example, lays the groundwork for turning your real estate agency concept into reality. Let’s dive in!

Our real estate agency business plan covers all essential aspects necessary for a comprehensive strategy. It details operations, marketing strategy , market environment, competitors, management team, and financial forecasts.

• Executive Summary : Provides an overview of the real estate agency’s business concept, market analysis , management, and financial strategy.
• Real Estate Brokerage Services & Fees: Describes the brokerage services including property sales and acquisitions, along with a fee structure.
• Property Management Services & Fees: Outlines property management services offered and their respective fees.
• Key Stats : Offers data on industry size , growth trends, and market positioning.
• Key Trends: Highlights significant trends impacting the industry, such as digital transformation and changing buyer preferences.
• Key Competitors: Analyzes primary competitors and differentiates the agency from these competitors.
• SWOT : Analyzes strengths, weaknesses, opportunities, and threats.
• Marketing Plan : Outlines tactics for attracting new clients and maintaining relationships.
• Timeline : Sets out key milestones from inception through the first year of operations.
• Management: Information on the management team and their roles within the agency.
• Financial Plan: Projects the agency’s financial performance over the next five years, detailing revenue, profits, and anticipated expenses.

Real Estate Agency Business Plan

Fully editable 30+ slides Powerpoint presentation business plan template.

Download an expert-built 30+ slides Powerpoint business plan template

Executive Summary

The Executive Summary introduces your real estate agency’s business plan, offering a concise overview of your agency and its services. This section outlines your market positioning, the variety of real estate services offered—including property sales, rentals, and property management—its location, size, and a description of day-to-day operations.

This section should also discuss how your real estate agency will integrate into the local market, including the number of direct competitors within the area, identifying who they are, along with your agency’s unique selling points that differentiate it from these competitors.

Additionally, you should include information about the management and co-founding team, detailing their roles and contributions to the agency’s success. Furthermore, a summary of your financial projections, including revenue and profits over the next five years, should be presented here to provide a clear picture of your agency’s financial plan.

Real Estate Agency Business Plan Executive Summary Example

Business Overview

In this section, introduce your real estate agency with essential details such as its name, location, and core services. Highlighting your agency’s  unique selling proposition  ( USP ) distinguishes it amidst a competitive landscape. Whether it’s a focus on personalized client experiences, specialized market segments, or innovative technology integration, your USP should shine through.

Example: For instance, “Prime Properties Realty,” headquartered in bustling downtown Manhattan, boasts a dedicated team of tenacious real estate professionals. Our agency specializes in comprehensive property management solutions and bespoke brokerage services, priding ourselves on a client-centric approach that blends cutting-edge technology with old-fashioned integrity.

Market Overview

This section delves into the broader real estate market, providing insights into its size, growth trends, and current dynamics. Utilize relevant data to underscore the potential of the market and articulate how your agency navigates within it. Discussing emerging trends and  competitive analysis  offers valuable context for your agency’s positioning and growth strategy.

Example: Consider Prime Properties Realty within the U.S. real estate market, valued at a staggering $243 billion in 2023. With a steady annual growth rate of 3.94%, the industry presents ample  opportunities  for strategic expansion. Trends such as the increasing demand for virtual tours and smart home solutions underscore the importance of technological innovation, while a competitive landscape comprising local agencies and national firms necessitates a differentiated approach.

Management Team

Highlighting the expertise and experience of your management team instills confidence in potential investors and partners. Showcase key qualifications and achievements, emphasizing how each member contributes to the agency’s success. Whether it’s decades of industry experience, specialized knowledge in niche markets, or a track record of driving growth, the management team serves as a cornerstone of credibility.

Example: At Prime Properties Realty, founders Emily Johnson and Michael Chen lead the charge with a combined 30 years of real estate expertise. Emily’s background in corporate strategy and  market analysis  complements Michael’s proficiency in negotiations and client relations, ensuring a dynamic leadership that drives innovation and excellence.

Financial Plan

Concluding the executive summary, provide a concise overview of your agency’s financial goals and projections. Outline revenue targets, profit margins, and key strategies for achieving sustainable growth. By articulating a clear financial trajectory, you demonstrate your agency’s viability and potential for long-term success.

Example: Prime Properties Realty aims to achieve $2.4 million in annual revenue with a solid 16% profit margin ( EBITDA ) by 2028. This ambitious yet attainable goal is supported by strategic investments in technology infrastructure, aggressive  marketing initiatives , and ongoing professional development for our team members. With a prudent financial strategy and a relentless pursuit of excellence, we are poised to emerge as a market leader in the dynamic real estate landscape.

For a Real Estate Agency, the Business Overview section can be concisely divided into 2 main slides:

Real Estate Brokerage Services & Fees

Briefly describe the agency’s professional and welcoming office environment and its conveniently located premises near major residential and commercial areas, which enhances accessibility and client traffic. Detail the range of real estate brokerage services including buying, selling, and leasing properties, and discuss the agency’s fee structure, which is typically based on a percentage of the property sale or lease price, reflecting the high quality of service and market alignment.

Property Management Services & Fees

Describe the comprehensive property management services offered that cover tenant screening, rent collection, maintenance, and financial reporting. The pricing for these services is usually based on a percentage of monthly rental income or a flat monthly fee, with potential additional charges for special services like emergency maintenance or tenant placement, ensuring landlords a hassle-free ownership experience.

Industry Size & Growth

In the Market Overview of your real estate agency business plan, start by examining the size of the real estate industry and its growth potential. This analysis is crucial for understanding the market’s scope and identifying expansion opportunities.

Key Market Trends

Proceed to discuss recent market trends , such as the increasing consumer interest in sustainable and eco-friendly properties, the growing demand for smart homes equipped with the latest technology, and the rising popularity of urban living spaces among millennials and young professionals. For example, highlight the demand for properties that cater to specific lifestyle needs, alongside the rising preference for locations with comprehensive amenities and green spaces.

Competitive Landscape

A  competitive analysis  is not just a tool for gauging the position of your real estate agency in the market and its key competitors; it’s also a fundamental component of your business plan.

This analysis helps in identifying your real estate agency’s unique selling points, essential for differentiating your business in a competitive market.

In addition, the competitive analysis is integral in laying a solid foundation for your business plan. By examining various operational aspects of your competitors, you gain valuable information that ensures your business plan is robust, informed, and tailored to succeed in the current market environment.

Identifying Your Competitors in the Real Estate Industry

The first step in conducting a competitive analysis for a real estate agency is identifying key competitors. These competitors may include other local real estate agencies, independent agents, and even online platforms that facilitate property transactions.

Utilize online tools such as real estate listing websites, social media platforms, and search engines to identify competitors operating in your  target market . Pay attention to their areas of specialization, market presence, and client demographics.

Real Estate Agency Competitors’ Strategies

Once competitors have been identified, delve into analyzing their strategies across various dimensions:

• Service Offerings:  Evaluate the range of services offered by competitors. Some agencies may specialize in residential properties, while others may focus on commercial real estate or niche markets like luxury properties or vacation rentals.
• Marketing Tactics:  Assess competitors’ marketing tactics and channels. Do they invest heavily in digital marketing, traditional advertising, or networking events? Analyze the effectiveness of their marketing efforts in reaching and engaging potential clients.
• Pricing Structure :  Compare the pricing structure of competing agencies. Consider factors such as commission rates, service fees, and any additional charges. Determine whether competitors position themselves as budget-friendly options or premium service providers.
• Technology Adoption:  Examine competitors’ use of technology in their operations. This includes the adoption of customer relationship management (CRM) software, virtual reality tours, and online property listings. Evaluate how technology integration enhances the customer experience and streamlines internal processes.
• Client Relationships: In vestigate how competitors nurture client relationships and provide value-added services. This may include personalized property recommendations, market insights, and assistance throughout the buying or selling process.

What’s Your Agency’s Value Proposition?

Armed with insights from the competitive analysis, it’s essential to define your real estate agency’s  unique value proposition . When crafting your agency’s value proposition, consider factors such as specialization, service differentiation, technology integration, and a client-centric approach.

Highlight any areas of specialization or expertise that set your agency apart from competitors. This could include expertise in a particular neighborhood, property type, or client demographic.

Identify ways to differentiate your agency based on the quality and range of services offered. Whether it’s providing personalized property tours, comprehensive  market analysis , or innovative  marketing strategies , emphasize how your agency goes above and beyond to meet client needs.

Showcase your agency’s commitment to leveraging technology to enhance the real estate experience. Whether it’s offering virtual property tours, implementing advanced analytics tools, or providing an intuitive online platform for property search, emphasize how technology drives efficiency and convenience for clients.

Emphasize your agency’s dedication to delivering exceptional customer service and building long-term relationships with clients. Highlight testimonials, case studies, and success stories to illustrate your agency’s track record of client satisfaction and success.

First, conduct a SWOT analysis for the real estate agency , highlighting Strengths (such as experienced realtors and a diverse property portfolio), Weaknesses (including high agent turnover or reliance on local market conditions), Opportunities (for example, the growing demand for rental properties or the potential for tapping into luxury real estate markets), and Threats (such as fluctuations in real estate prices or new housing regulations that may impact operations).

Marketing Plan

Next, develop a marketing strategy that outlines how to attract and retain clients through targeted advertising, promotional events like open houses, an engaging online presence, and community involvement. This strategy should also incorporate using social media platforms to showcase properties and share customer testimonials, enhancing the agency’s visibility and client engagement.

Marketing Channels

Utilize various channels to connect with potential clients and reinforce your brand.

Digital Marketing

• Website and SEO:  A well-optimized website serves as the centerpiece of your digital presence. Beyond listing properties, a website should offer valuable resources, agent profiles, blog content on  market trends , and FAQs to address client queries. Local Search Engine Optimization (SEO) techniques are crucial to ensure visibility in local property searches.
• Social Media:  Leveraging social media platforms is indispensable in today’s marketing landscape. LinkedIn is ideal for professional networking and B2B connections, while platforms like Instagram and Facebook offer opportunities for visual storytelling through property highlights, client testimonials, and engaging content. YouTube can be utilized for virtual property tours, educational videos, and neighborhood insights.
• Email Marketing:  Email marketing remains a powerful tool to nurture client relationships. Crafting targeted email campaigns that include property updates, market trends, success stories, and personalized messages enhances engagement and reinforces your agency’s expertise and credibility.

Local Advertising

• Networking Events:  Attend local real estate networking events, chamber of commerce meetings, and industry conferences to foster connections and generate leads.
• Local Sponsorship:  Support community events or charities to increase brand visibility. Consider sponsoring neighborhood newsletters or local podcasts.

Promotional Activities

Entice potential clients with appealing offers and incentives.

• Open House Events:  Hosting exclusive open houses is an effective way to showcase properties and create a welcoming environment for prospective buyers. Offering refreshments, interactive property tours, and informational sessions about the local area or housing market trends can elevate the open house experience. 
• Referral Programs:  Encouraging satisfied clients to refer others can be a powerful marketing tool. Implementing referral programs that reward clients with incentives, such as discounts on future transactions or gift vouchers, motivates them to advocate for your agency among their networks. Acknowledging and appreciating referrals strengthen the bond between your agency and existing clients while expanding your client base.

Sales Channels

Maximizing sales strategies and providing comprehensive services contribute significantly to successful transactions and satisfied clients.

Agent Upselling

• Additional Services:  Offer clients comprehensive services beyond property listings, such as staging advice, home valuation consultations, or connections to reliable contractors. This comprehensive approach not only assists clients through the transaction process but also establishes your agency as a trusted resource in real estate matters.
• Value-added Services:  Provide resources like relocation guides, mortgage assistance, or legal advisory services.

Online Sales and Booking

• Property Listing Platforms:  Ensuring an efficient online presence on real estate listing platforms is essential. Active and engaging listings with high-quality visuals, detailed descriptions, and accurate information attract potential buyers and sellers
• Online Transactions:  Streamlining the transaction process through secure online platforms for inquiries, appointments, and documentation fosters convenience and expediency, catering to the preferences of modern clients.

Client Relationship Management

• Follow-up Procedures:  Implement effective follow-up protocols after property viewings or transactions to maintain communication and address client queries.
• CRM Software : Utilize customer relationship management software to organize client information, track interactions, and personalize future engagements.

Strategy Timeline

Finally, create a detailed timeline that outlines critical milestones for the real estate agency’s launch, marketing initiatives, client acquisition, and expansion goals. This timeline should ensure that the business moves forward with clear direction and purpose, setting specific objectives for brand establishment, market penetration, and long-term growth.

The Management section focuses on the real estate agency’s management and their direct roles in daily operations and strategic direction. This part is crucial for understanding who is responsible for making key decisions and driving the real estate agency toward its financial and operational goals.

For your real estate agency business plan, list the core team members, their specific responsibilities, and how their expertise supports the business.

The Financial Plan section is a comprehensive analysis of your financial projections for revenue, expenses, and profitability. It lays out your real estate agency’s approach to securing funding, managing cash flow, and achieving breakeven.

This section typically includes detailed forecasts for the first 5 years of operation, highlighting expected revenue, operating costs and capital expenditures.

For your real estate agency business plan, provide a snapshot of your financial statement (profit and loss, balance sheet, cash flow statement), as well as your key assumptions (e.g. number of customers and prices, expenses, etc.).

Make sure to cover here _ Profit and Loss _ Cash Flow Statement _ Balance Sheet _ Use of Funds

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• Business Plan , Competitive Analysis

Privacy Overview

Premier Agent Toolkit

How to create a real estate agent business plan.

In this article:

Why agents need a real estate business plan

How to write a real estate business plan, free real estate business plan template.

Every agent needs a plan to succeed. A real estate business plan keeps you accountable and on track. An optimal business plan for real estate agents includes firm goals, but it’s also fluid — you’ll want to update your real estate business plan as you grow and the market evolves.

A real estate business plan allows you to stay current with market trends and ahead of the competition. It also helps you track results over time, test lead generation strategies and develop new marketing approaches. Zillow’s Bret Calltharp, a former training leader for a large brokerage group, saw his agents’ business increase by an average of 27% when implementing a business plan for the first time.

Here’s what a good real estate agent business plan will show you:

• Where you are today
• Where you want to be
• How you’ll get there
• How to measure your performance
• When and where to make a course correction

The benefits are clear, and you’re convinced — but where do you start? Here are our recommended steps for creating a business plan for real estate agents:

Write an executive summary

Real estate business planning should always start with a summary of who you are, what services you offer, where you operate and who you serve.

Define your mission statement

Your mission statement is the foundation that supports your entire real estate business plan. It should clearly state your guiding principles and goals.

Create a team management summary

If you’re working with a team, include all members who contribute to your success and how they help. Create a table that shows their roles, responsibilities and time frames for specific tasks.

Know your target client

Determine who your target client is and figure out their story. The more personal you can get, the better you’ll serve your clients.

Who, specifically, is your target client? This could be a first-time home buyer, a home seller, a renter — or a more specific subset like retirees or investors.

What is your target client’s story? Ask your clients specific questions and create a strategy based on their answers. Where do they want to live? What is their annual household income? What do they want from their home?

Outline SMART business goals

Your goals should be specific, measurable, attainable, realistic and timely — in other words, SMART . Once your real estate business goals are SMART, break down each goal into objectives. These should be the specific tasks and activities required to accomplish the goal.

Map out your keys to success

Every real estate agent business plan template should include a table that lists the top three ways to achieve business success — and more importantly, the actions required to fulfill them.

Breakeven analysis

A critical part of real estate business planning is determining your breakeven point. What average commission rate do you need to achieve per unit to break even each month? How many homes must you sell at your average commission rate to break even by your target goal?

Understand your market

It’s crucial to stay on top of your target client’s market. A successful agent will know how the market has behaved in the past few years, as well as where it’s headed (and why).

Segment your market

Let’s look at a target client in a sample real estate business plan.

Suppose the target client is a first-time home buyer. How can we segment that market further to include even more detailed and relevant information? Here are two potential market segments for our first-time home buyer:

• First-time home buyers, single family
• First-time home buyers, multigenerational

Plan for market growth

Map out how much growth you anticipate in your market, and use it to forecast the number of potential clients over the next few years.

Track market trends in your real estate business plan with a table listing possible outcomes on the right and trends on the left.

Track market trends

What market trends do you foresee impacting your business and market segments? Here’s a real estate business plan sample that projects a possible outcome for a rise in multigenerational living:

Develop a SWOT analysis

Every business plan needs a SWOT analysis: strengths, weaknesses, opportunities and threats. Some sample real estate business plan SWOT questions include:

• What sets me apart from my competition?
• What skills need improving?
• Are there any opportunities I’m overlooking?

Recognize your competition

Who’s your primary competition in your target market, and what makes them your primary competition? How will you outperform them?

Create a marketing strategy

Every real estate business plan template needs a marketing strategy table. Highlight your resources and key features, like this sample:

List ways to generate leads

Always keep a list of effective methods to generate leads , and always update the list when new strategies come up. The lead generation list in your real estate development business plan is as simple as this:

Project yearly sales forecast

Use market growth, trends and other real estate marketing strategies to predict your annual sales for the next three years. Here’s an example table from our real estate business plan PDF:

Outline your personnel expenses

Knowing what you’ll spend in a year will help you determine your breakeven point and set reasonable expectations for growth. A simple expense table, like this one from our free real estate business plan, allows you to project your personnel expenses through the next three years:

Measure client experience

Keep track of all the services you offer — and measure how quickly you deliver them. This is crucial in any real estate business planning document, as it helps you build a strong client relationship and track the results over time. Here’s an example for measuring response time:

Use a client relationship management (CRM) tool

There are many CRM tools out there, so it’s easy to find one that fits your needs. Do you want to track analytics? Use it for email marketing? Keep track of property and listing details? Automate your marketing efforts?

As a Zillow Premier Agent , you can use a CRM to manage all your leads and connections, along with their progress through the real estate journey. You can prioritize leads who are actively looking, submitting offers and under contract. Jot down other tools you’re using, especially transaction management tools and their specific functions.

Calculate your business plan performance

The final step in your real estate business plan template is measuring the plan’s performance. Track performance-related questions and how you’ll measure them. Here’s a sample question and measurement example that many agents use for real estate business planning:

Our customizable template helps you create a real estate business plan that outlines what success looks like — for you and your clients — so you can have your best year yet. This sample real estate business plan gives clear examples and allows for complete customization to your personal goals and your real estate market. Jot down your real estate business goals, clarify the state of your finances, profile your target customers and track other data that’s vital to successful real estate business planning.

Best of all — you can get started today! Just download our free real estate business plan template and add your own goals, projections, expenses and data. Don’t forget to update it regularly to accurately track your progress, evolve with the market and stay current with your target client’s needs.

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Real Estate Business Plan

People would always need to find places. Be it for offices, homes, and whatnot.

Finding the ideal place irrespective of your needs and requirements is never a cakewalk, to begin with.

You can go through a number of real estates business plan templates before you write your plan.

Industry Overview

The market size, measured by revenue, of the Real Estate Sales and brokerage industry, is $156.2bn in 2021, and the industry is expected to increase by 0.4% in 2021.

Also, the market is changing at a rapid rate and the way people use spaces is changing at a rapid rate too.

Hence, to get on or stay on the higher end of the spectrum you’ll need to upskill and change the way you do business constantly.

But that is a fair trade for the amount of growth and profitability this industry has to offer.

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Things to Consider Before Writing a Real Estate Business Plan

Be specific.

The real estate industry is broad when it comes to work and what you can do. It can either be a source of primary or passive income. At the same time, you might be involved in the industry as an investor, agent, or builder. Decide what you want to do and plan on that basis.

Do your research

The trends of the real estate business change constantly, hence doing your research and updating it constantly is a crucial part of your profession.

As your knowledge and expertise is your greatest asset in this industry, keep expanding it to stay at the top of things.

Build a team of skilled professionals

Having a team you can build your real estate business with is essential.

Select a group of individuals with a diverse set of talents ranging from good communication skills to brilliant analytical skills. Given the dynamics of the real estate business, you never know what skills might come in handy in your business journey.

Be ready for change

As we have constantly discussed, real estate is a dynamic industry. Change is the only constant you’ll have in this business.

Thus, it is important for everything from your plan and way of doing business to be change-friendly.

Sources of Funding for a Real Estate Business

Gaining funds is one of the major reasons for writing a business plan. And here are a few good funding options for your real estate business:

A traditional loan is one of the most basic options for getting funded. You can opt for this if you have a good credit score.

Non-bank mortgage lending

This is a good option if you don’t want to go through a lot of paperwork.

The asset-based mortgage

For this, the lenders look at the rental value of your property and provide a loan on that basis. It is a good option if you don’t want or can’t get a loan based on your personal assets or income.

Above all, it is essential to plan your business to figure out your funding requirements and the right way to fulfill the same.

Write Your Business Plan

If you have enough connections, and the ability to find places for people that have attributes they want and need then a real estate business can be a profitable one for you.

A business plan helps you get funded, explain your ideas to the stakeholders of your business, and make better decisions.

Hence, planning is an important aspect of starting or growing your business.

It has been created using Upmetrics online business plan software that helps you create dynamic and customizable plans anywhere and at any time.

Our sample real estate business plan can help you with writing a well-rounded business plan for your business. It can act as a guide and prevent you from getting stuck in a certain section for too long.

Real Estate Business Plan Outline

This is the standard real estate business plan outline which will cover all important sections that you should include in your business plan.

• Market Opportunity
• Demand for Housing
• Financing & Investment Forecast
• Introducing Kegan
• Business Model
• Short Term Goals
• Long Term Strategies
• Keys to Success
• Contemporary Living for the 21″ Century
• The Complete Package
• Pricing Strategy
• Implementation Strategy – Action Plan
• Target Market Overview
• Housing Shortage Overview in Saudi Arabia
• Housing Shortage Overview in Riyadh
• Housing Prices
• Kegan Home Prices
• Market Positioning & Brand
• Marketing Strategies
• Sales Strategies
• Sales Process
• Competitive Landscape
• Competitive Advantages
• Rashid Bin Said
• Director of Construction
• Member name
• Chief Accountant
• Director of Marketing & Sales
• Other Staff
• Independent Directors
• Solid Balance Sheet
• Impressive Cashflow
• Financial Summary
• Financial Assumptions
• Income Statement (Five-Year Projections)
• Balance Sheet (Five-Year Projections)
• Cash Flow Statement (Five-Year Projection)

After getting started with Upmetrics , you can copy this sample real estate business plan into your business plan and modify the required information and download your real estate business plan pdf or doc file.

It’s the fastest and easiest way to start writing your business plan.

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Fill-in-the-blanks and automatic financials make it easy.

Download a sample real estate business plan

Need help writing your business plan from scratch? Here you go;  download our free real estate business plan pdf  to start.

It’s a modern business plan template specifically designed for your real estate business. Use the example business plan as a guide for writing your own.

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Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Business Plan Executive Summary Example & Template

Updated: Jun 3, 2024, 1:03pm

Table of Contents

Components of an executive summary, how to write an executive summary, example of an executive summary, frequently asked questions.

A business plan is a document that you create that outlines your company’s objectives and how you plan to meet those objectives. Every business plan has key sections such as management and marketing. It should also have an executive summary, which is a synopsis of each of the plan sections in a one- to two-page overview. This guide will help you create an executive summary for your business plan that is comprehensive while being concise.

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The executive summary should mimic the sections found in the business plan . It is just a more concise way of stating what’s in the plan so that a reader can get a broad overview of what to expect.

State the company’s mission statement and provide a few sentences on what the company’s purpose is.

Company History and Management

This section describes the basics of where the company is located, how long it has been in operation, who is running it and what their level of experience is. Remember that this is a summary and that you’ll expand on management experience within the business plan itself. But the reader should know the basics of the company structure and who is running the company from this section.

Products or Services

This section tells the reader what the product or service of the company is. Every company does something. This is where you outline exactly what you do and how you solve a problem for the consumer.

This is an important section that summarizes how large the market is for the product or service. In the business plan, you’ll do a complete market analysis. Here, you will write the key takeaways that show that you have the potential to grow the business because there are consumers in the market for it.

Competitive Advantages

This is where you will summarize what makes you better than the competitors. Identify key strengths that will be reasons why consumers will choose you over another company.

Financial Projections

This is where you estimate the sales projections for the first years in business. At a minimum, you should have at least one year’s projections, but it may be better to have three to five years if you can project that far ahead.

Startup Financing Requirements

This states what it will cost to get the company launched and running. You may tackle this as a first-year requirement or if you have made further projections, look at two to three years of cost needs.

The executive summary is found at the start of the business plan, even though it is a summary of the plan. However, you should write the executive summary last. Writing the summary once you have done the work and written the business plan will be easier. After all, it is a summary of what is in the plan. Keep the executive summary limited to two pages so that it doesn’t take someone a long time to peruse what the summary says.

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It might be easier to write an executive summary if you know what to expect. Here is an example of an executive summary that you can use as a template.

Bottom Line

Writing an executive summary doesn’t need to be difficult if you’ve already done the work of writing the business plan itself. Take the elements from the plan and summarize each section. Point out key details that will make the reader want to learn more about the company and its financing needs.

How long is an executive summary?

An executive summary should be one to two pages and no more. This is just enough information to help the reader determine their overall interest in the company.

Does an executive summary have keywords?

The executive summary uses keywords to help sell the idea of the business. As such, there may be enumeration, causation and contrasting words.

How do I write a business plan?

If you have business partners, make sure to collaborate with them to ensure that the plan accurately reflects the goals of all parties involved. You can use our simple business plan template to get started.

What basic items should be included in a business plan?

When writing out a business plan, you want to make sure that you cover everything related to your concept for the business,  an analysis of the industry―including potential customers and an overview of the market for your goods or services―how you plan to execute your vision for the business, how you plan to grow the business if it becomes successful and all financial data around the business, including current cash on hand, potential investors and budget plans for the next few years.

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Kimberlee Leonard has 22 years of experience as a freelance writer. Her work has been featured on US News and World Report, Business.com and Fit Small Business. She brings practical experience as a business owner and insurance agent to her role as a small business writer.

Cassie is a deputy editor collaborating with teams around the world while living in the beautiful hills of Kentucky. Focusing on bringing growth to small businesses, she is passionate about economic development and has held positions on the boards of directors of two non-profit organizations seeking to revitalize her former railroad town. Prior to joining the team at Forbes Advisor, Cassie was a content operations manager and copywriting manager.

Real Estate Business Plan Template [Updated 2024]

Real Estate Business Plan & Example

If you want to start a real estate business or expand your existing real estate business, you need a business plan.

The following real estate business plan template and example give you the key elements to include in a winning real estate business plan or a real estate agent business plan. In addition, a business plan template for real estate businesses lays out your goals, challenges, and plans for meeting your goals.

You can download our Real Estate Business Plan Template (including a full, customizable financial model) to your computer here.

Real Estate Business Plan Example

Below are links to each of the key sections of a sample real estate business plan (if you’d like a real estate investment business plan template , go here.)

• Executive Summary – The executive summary is the first section of your real estate business plan and should give a brief overview of your business plan. It should include your company’s mission statement, a brief description of your products or services, your target market, and how you plan to succeed.
• Company Overview – The company overview section of your business plan should include a brief description of your company, your legal structure, your business model, your products or services, and your mission statement.
• Industry Analysis – The industry analysis section of your business plan should give a brief overview of the real estate industry, including statistics on the size of the industry, growth trends, and major players.
• Customer Analysis – The customer analysis section of your business plan should give a brief overview of your target market, including statistics on the size of the market, growth trends, and major segments.
• Competitive Analysis – The competitive analysis section of your business plan should give a brief overview of your competitors, including their products or services, their market share, and their marketing efforts.
• Marketing Plan – The marketing plan section of your business plan should give a brief overview of your marketing strategies to generate leads, including your property listings and services, your pricing strategy, your distribution channels, and your marketing budget.
• Operations Plan – The operations plan section of your business plan should give a brief overview of your agency’s day-to-day operations, including your office procedures, your on-site procedures, and your customer service procedures.
• Management Team – The management team section of your business plan should give a brief overview of your team, including their experience, their qualifications, and their roles in your agency.
• Financial Plan – The financial plan section of your business plan should give a brief overview of your financial projections, including your income statement, balance sheet, and cash flow statement.

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Real Estate Business Plan Outline

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Home > Business Plan Templates > 9-Step Real Estate Business Plan Template With Examples

9-Step Real Estate Business Plan Template With Examples

Apr 25, 2024 | Business Plan Templates

Our comprehensive Real Estate business plan template acts as an ideal guide to structuring your own detailed and efficient business plan. With its easy-to-follow sections, it requires you to think critically about all aspects of your real estate business, from the Executive Summary to Market Analysis and Financial Projections.

Each section of this template is designed to clearly present your business’s crucial elements to potential investors, lenders, and other interested parties and can be effortlessly tailored to suit your specific business characteristics.

By following these nine steps, you can create a solid business plan that will impress!

Table of Contents

1. Executive Summary

The executive summary is a concise introduction to your real estate business. It should provide an overview to investors and other readers. Although it’s the first section, you might find it helpful to complete it after all other sections have been detailed.

Introduction

Start by introducing your real estate business. What is its name? What exactly does your company do? Are you a residential, commercial, or investment property firm?

Example: XYZ Properties is a real estate company specialising in acquiring, refurbishing, and renting residential properties in Greater Dublin.

Business Overview

Give a high-level review of your real estate business. Explain your business’s core activities and the properties you deal with.

Example: Our primary business revolves around purchasing underperforming or outdated residential properties, revitalising them, and then marketing them for rent to young professionals and small families.

Mission and Vision Statement

Describe your real estate company’s mission statement and vision statement. This should define your business’s purpose, long-term goals, and strategies.

Example: Our full mission statement is to enhance the local residential market by transforming neglected homes into quality rental properties. Our vision is to contribute to community development and provide affordable, high-quality homes for the local populace.

Geographic Reach

Explain where your real estate business operates, your target areas, and your influence on the local real estate market in these regions.

Example: XYZ Properties currently focuses on the Greater Dublin area, specifically markets that show high rental demand yet lack updated, affordable housing options.

Service Type

Describe the type of property services you offer – buying, selling, renting, renovation, etc.

Example: We primarily purchase, renovate, and rent residential properties. We provide end-to-end property management services for our tenants.

Major Goals and Objectives

Outline your business’s short-term and long-term goals. These very smart goals should be SMART (Specific, Measurable, Achievable, Realistic, and Time-bound) goals.

Example: Our short-term goal is to acquire and refurbish five additional properties within the next fiscal year. In the long term, we aim to expand our operations to cover additional geographical areas within the next five years.

2. Business Description and Value Proposition

This section provides an in-depth understanding of your real estate business, including its structure, operating principles, and how it stands out from the competition.

Nature of the Business

Describe in detail the makeup of your successful real estate business and its key operations. From property sourcing to renovation, leasing, maintenance, and eventual sale, explain your real estate business’s overall process and stages.

Example: XYZ Properties is a full-service real estate investment and property management company. We identify undervalued properties, purchase and renovate them, find suitable tenants and manage the property to provide high-quality living while ensuring a steady return on the investments.

Customer Problems and Solutions

Identify the major challenges that your potential customers face and how your business solves those problems.

Example: Many younger professionals and families struggle to find well-maintained, affordable rental homes in good neighbourhoods. We bridge this gap by providing fully renovated, comfortable homes at a budget-friendly price in appealing locations.

Uniqueness and Competitive Edge

Describe what differentiates your real estate business from competitors. This could be your business model, unmatched customer service, proprietary technology, strategic partnerships, etc.

Example: XYZ Properties distinguishes itself by offering an entirely hassle-free rental experience. Our dedicated property management team handles any maintenance issues promptly, and our online portal lets tenants pay rent, submit service requests, and communicate with our team with just a few clicks.

3. Market Analysis

This part helps to understand the environment in which your real estate business operates. It includes an analysis of the overall industry, target market, and competition.

Industry Description and Outlook

Give an overview of the real estate industry in the area you serve. Discuss aspects like growth trends, factors affecting the industry, opportunities, and challenges.

Example: The Dublin residential rental market has grown steadily over the past few years, with a growing population and demand for quality housing. With limited new constructions and current housing stock ageing, property refurbishment presents a favourable opportunity.

Target Market Analysis

Define your next target client or market in terms of demographics, geographic location, socioeconomic status, etc., and explain why this segment is ideal for your business.

Example: Our primary target market is young professionals and small families from middle-income brackets looking for rental homes. This group values quality living spaces in convenient locations and is willing to pay a premium for renovated well-maintained homes.

Competitive Analysis

Identify your main competitors in your area. Analyse their strategies, strengths, and weaknesses. Show how you’ll position your business to stand out.

Example: While several property management firms and individual landlords operate in our region, their primary focus seems to be maintaining the status quo rather than upgrading properties to cater to tenants’ rising expectations. XYZ Properties stands out by focusing on delivering quality, updated accommodation that appeals to our target market.

4. Business Structure and Management

This section discusses the legal and organisational structure that your real estate business adheres to and presents information about the management team.

Legal Description and Ownership Structure

Provide the legal structure of your real estate business. Are you a sole proprietor, partnership, or corporation? Clarify this and explain why such a structure was chosen.

Example: XYZ Properties is a Private Limited Company (PLC). This structure allows us to operate as an independent legal entity, which attracts investors, limits personal liability, and enhances business credibility.

Management Team

Present details about your key management team members, roles, industry experience, and qualifications.

Example: Our management team includes a CEO with a background in property management, a CFO with extensive financing experience, and a Property Manager who brings years of maintenance expertise. Their collective knowledge provides a comprehensive skill set to manage all aspects of our real estate business effectively.

5. Marketing and Sales Strategy

This part of your business plan needs to articulate how the real estate business anticipates marketing efforts attracting its target market.

Marketing Plan

Describe your real estate marketing strategy. Are you going to use real estate listing websites, social media, local advertising, network events, or perhaps a combination of the above? Explain each channel and its importance.

Example: We use a mix of online and offline marketing strategies. Our properties are listed on major real estate websites, and we leverage social media to showcase our refurbished units. We also have property listings and actively network with local businesses and community events to promote our quality rental homes.

Sales Strategy

Explain your sales strategy. This would include how you negotiate contracts, pricing strategy, sales forecast, etc.

Example: Our sales strategy is to price our rental units competitively, offering top-of-the-market amenities to justify the pricing. We leverage property viewings to highlight the benefits of our homes, focusing on the quality of refurbishments, location, and our dedicated property management services.

Growth Strategy

Discuss any plans to expand your real estate business – for instance, moving to new locations, adding new property types, or scaling your business model.

Example: In the long term, we aim to expand our portfolio to include commercial property and possibly venture into real estate development. In the medium term, our growth strategy involves expanding to newer suburbs in the Dublin region.

6. Operations

This part outlines the operational aspects of your real estate business, including location, facilities, equipment, and technology needs.

Geographic Location

Provide details on where your own real estate agent or business is based and where it operates. Discuss why these locations have been chosen.

Example: XYZ Properties is headquartered in downtown Dublin and operates across the Greater Dublin area. This region has been strategically chosen for its high rental demand and robust transportation network.

Facilities and Equipment

If applicable, describe the facilities needed to support your business, including office space, renovation equipment, etc.

Example: Our business operates from a compact office in downtown Dublin, where our administrative functions originate. All property renovation is performed with high-quality equipment and materials to ensure the delivery of superior residential properties.

Technology Needs

Describe the technology your real estate business uses. This could include software for property management, digital marketing tools, and customer relationship management (CRM) software.

Example: XYZ Properties uses cutting-edge property management software that streamlines most functions, such as rent collection, tenant communication, and maintenance requests. We also employ digital marketing tools to promote our business and properties.

7. Implementation Strategy

In this section, outline how your real estate business plan will implement your business strategies and define milestones and timelines based on your objectives and goals.

Role and Responsibilities of Team Members

Detail the roles and responsibilities of each team member. This should relate to the operational strategies you outlined earlier.

Example: Our CEO oversees strategic decision-making and investment sourcing. Our CFO is responsible for financial management and budgeting. The Property Manager handles all operational aspects related to properties, from overseeing renovations to interacting with tenants and addressing their needs.

Milestones and Timelines

Outline your business plan into a series of measurable and achievable milestones. Provide a timeline for when each milestone will be achieved. This gives your team a roadmap to follow and helps investors understand your approach.

Example: The immediate milestone is acquiring and refurbishing three additional properties within six months. We aim to lease those properties within a subsequent three-month period. Our longer-term milestones are focused on portfolio expansion and diversification, measured by adding an average of six new properties per year for the next five years.

8. Financial Plan and Projections

This section outlines your financial goals, sources of revenue, and detailed financial projections.

Start-up/Financial Summary

Describe the financial overview of your company. If it’s an existing business, provide your actual financial data, including revenue, costs, a cash flow statement, etc. For start-ups, describe the initial capital involved and how expenses would be financed.

Example: XYZ Properties, being a well-established company, operates on its steady revenues generated through rentals. Our revenues cover property acquisition, renovation costs, and operating expenses. A reserve fund is maintained for unexpected contingencies.

Revenue and Pricing Model

Discuss your source of revenue and your pricing strategy. In real estate, this typically involves property rent or sale prices, management or service fees, etc.

Example: Our primary revenue stream is rental income derived from our properties. We set rent prices based on the quality of the property, location, and market conditions while ensuring a healthy return on our investments.

Forecasted Profit and Loss

Provide a profit and loss statement forecast. This should include your average sales price forecast, expected expenses, and profits for at least three years into the future.

Example: Based on our current property portfolio and expansion plans, we project an annual rental income growth of 7% for the next three years. After accounting for all operating expenses and necessary investments in new properties, we expect a net profit margin of about 15% consistently over this time frame.

Projected Cash Flow

Offer your cash flow projection. This shows that your business is solvent and can successfully pay its debts and operational expenses.

Example: Our cash flow projections display the influx of income from rentals and the outlay for property acquisitions, renovations, maintenance, and administrative costs. We foresee a consistent positive cash flow, keeping our business financially healthy.

Project Financial Assumptions

Detail any assumptions made while creating your financial outlook.

Example: Our projections presume a steady rental demand and property market stability. We’ve also assumed steady cost escalations of around 3% per annum for property upkeep and other variable expenses. Our major capital expenses are assumed to be funded through internal accruals and bank loans.

9. Appendices

This section should include any additional documents or support for your business plan.

Organisational Chart

Attach a chart showing your real estate business’s organisational structure. This will help investors understand the hierarchy and functions within your company.

Example: Our organisational chart clearly represents the hierarchical construction of XYZ Properties. It indicates the roles of the CEO, CFO, Property Manager, and support staff, providing our investors with a clear view of our company structure.

Resume of Key Team Members

Attach the resumes of your key team members to give investors a better understanding of their skills, experience, and how they contribute to the success of your business.

Example: Attached are the profiles of our CEO, who has over 15 years of real estate investment and management experience, and our CFO and Property Manager, who have combined experience of 20 years in their respective fields.

Detailed Budget

Include a detailed account of your budget, showing everything from initial investment to projected income versus expenses.

Example: Attached is a detailed budget document that outlines our projected revenues and expenses for the next fiscal year, including acquisition costs, renovation expenses, operational costs, and anticipated rental income.

Market Research

Provide some market research to validate your business assumptions.

Example: Enclosed is a recent real estate market report for the Greater Dublin area. It highlights key trends in the rental market. It demonstrates the significant demand for quality rental homes among the young professionals and family demographic.

Which Real Estate Business Is Most Profitable?

The profitability of a real estate business largely depends on factors such as location, market conditions, investment strategies, and operational proficiency. That being said, Real Estate Investment Trusts (REITs) are often highly profitable, primarily because they allow investors to buy shares in commercial real estate portfolios that generate income. Rental property businesses, especially in high-demand areas, can offer consistent cash flow as well.

Flipping properties – buying homes, renovating them, and quickly reselling them for a profit – can be lucrative, too. However, it involves higher risk and depends on market trends. Commercial real estate, dealing with properties like offices, retail space, or warehouses , often fetches substantial returns but requires significant capital.

Ultimately, the key lies in understanding the market, assessing risk effectively, and managing investments wisely to ensure profitability in any real estate business.

Get Started In Real Estate

Remember that a high-quality, well-researched real estate business plan could be instrumental in your real estate business’s success and growth. It will guide your decisions, attract investors, and help keep your real estate business on the right track towards achieving its goals.

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Elon Glucklich

8 min. read

Updated February 19, 2024

Download a free one-page real estate investment sample business plan

With the worst of recent inflation in the rear-view mirror and interest rates projected to start falling in 2024, real estate investors see signs of optimism. 

New apartment construction is rising sharply . These new properties coming onto the market and the prospect of lower borrowing costs point to plenty of long-term opportunities for investors.

However, investing in real estate requires a sharp eye for market trends, as well as significant upfront resources. Investors need to understand the different strategies for securing financing, and how to manage their properties to increase their value before reselling.

A business plan reduces your likelihood of making a bad investment, because it gets you in the habit of organizing your market research, and updating it as conditions evolve. The plan ultimately helps align your investment strategies with your opportunities.

| Looking for a fix and flip , home inspection , or other type of plan? Browse the Bplans library of sample real estate business plans |

• What should you include in a real estate investment business plan?

Here are the most common sections any real estate investor should consider including in their plan:

• Executive summary
• Company overview
• Investment strategy
• Market analysis
• SWOT analysis
• Financial plan and forecasts
• Exit strategy

The length and depth of your business plan will vary depending on your business. For instance, a real estate investment firm with a national portfolio of office and apartment buildings is bound to have a more complex set of financial projections and supporting documents than an investor with single-family houses in a few markets.

Here’s an example of a real estate investment business plan outline.

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• The 8 elements of an effective real estate investment business plan

1. Executive summary

Most business plans start with an executive summary outlining the business opportunity and the core strategies of your business. 

It’s the first section that most readers (including loan officers) will read. You’ll want to highlight any unique value or competitive edge you have, such as a track record of generating positive returns, or knowledge of a specific market. 

You should also give a high-level overview of your financial projections and anticipated returns, which you’ll go into greater detail on in the plan’s financial section. If you’re writing a business plan because you’re seeking bank financing or an investment, this is a good section to state your funding request and how you’ll use those funds.

2. Company overview 

The company overview describes your company’s operational and legal structure . 

List whether you have any partners, and detail your team’s experience, expertise, and roles within the company. Also, outline your portfolio, such as investing in residential properties, commercial buildings, or new development projects. 

3. Investment strategy

There are many ways to invest in real estate — buying homes to rent out, fixing and flipping houses, pooling your resources with partners into a real estate investment group, investing in real estate investment trusts, and more. Describe your strategy and why it will generate the highest returns.You should also describe your criteria for choosing properties to invest in, and whether your primary focus is to invest in a certain geographic region or a type of property, such as apartments or fixer-upper homes.

4. Market analysis

If you have any experience in investment real estate, you know how important market research is. Imagine paying $1 million for an apartment building and adding $100,000 on renovations, only to realize you can’t find tenants to pay the higher rents you want to charge.

That’s where a thorough market analysis comes in. It helps you understand the landscape you’re operating in. 

Use resources like the U.S. Census Bureau to research your target market’s age, income, and population trends. Look online for local data about real estate prices and how they’ve changed over time, or reach out to local realtors to get a feel for the market.

You should also try to determine how much investment activity is taking place in the market and who you’re competing with for opportunities. 

Many cities and larger towns with development departments make their building permit databases available online, since permits are typically public records. Reviewing permit records can show you how much development activity is already occurring where you plan to invest.

5. SWOT analysis

Because of the risks involved in real estate investment, a SWOT analysis can be a helpful exercise. It’s a strategic way of evaluating your company’s internal and external environment (think about your company’s financial health as an internal factor, and interest rates as an external factor).

The SWOT analysis gets you thinking about your company’s:

Strengths: What you do well , and what unique resources you have.

Weaknesses: What you need to improve on, what resources you lack, or what your competitors do better than you.

Opportunities: What are the current opportunities you want to take advantage of?

Threats: What factors could expose your company to risk, or what might competitors do to harm your position?

6. Financial plan and forecasts

Your financial plan should provide a detailed view of the expected financial performance of your real estate investments. Include income statements , cash flow forecasts , and balance sheets projecting the next 3-5 years. 

List the assumptions you used in your projections, such as rental income changes from rent increases or unrealized revenue due to certain amounts of vacant commercial space. 

You should also include a break-even analysis. This calculates when you expect a property’s operating income to exceed the debt taken to buy and maintain it.

7. Exit strategy

If you’re writing your business plan for investors, detailing your exit strategy will clarify their pathways for realizing their returns. It also trains you to think about the long-term timeline for your investments and how to maximize their value. 

Consider strategies that will help you maximize your profits, like refinancing your properties or looking into potential tax-deferral opportunities like a 1031 exchange.

8. Appendix

The appendix is an optional section at the end of your business plan. It’s where you include additional documents that support your business plan but don’t fit in the plan. This might include your detailed market research data, financial tables not covered in the main sections of the plan, legal documents, or permit records.

• Key considerations for writing a real estate investment business plan

To write a business plan that you can use as a guide for your decision making, consider places in the plan to emphasize these key points.

1. Develop a niche

If you’re a small investor or just starting, focus on carving out a specific niche for your investment strategy instead of trying to compete in multiple real estate segments. This could mean concentrating on a particular property type, such as multi-family homes, commercial real estate, or foreclosure properties, and diversifying your portfolio only after you’ve developed some traction. Or, you may decide to focus only on the segment you have the greatest advantage in.

2. Understand your risks

Real estate investment is inherently risky. 

Market dynamics, regulatory changes, and economic fluctuations can all impact the performance of your investments. 

As you compile research for your market analysis, dedicate time to conduct a detailed risk analysis to understand these factors and their potential impact on your investments. This includes assessing location-specific risks, economic cycles, and tenant or occupancy issues. 

Writing these out before they happen will help you think of strategies to mitigate these risks if they actually occur.

3. Network and develop market knowledge

Building a strong network with other real estate professionals, such as brokers and contractors, can provide valuable insights into the markets you hope to operate in. Document in your business plan how you will cultivate these relationships — you can include timelines for developing contacts in the milestones section of your plan.

Also, try to keep up to date on current events in the area, especially news about the regional economy. Look into the tax climate in the area, as well. All of this helps you build a deeper understanding of your market dynamics, and helps validate your investment strategy — or gives you reasons to reconsider.

4. Consider help with your financials

Even if you have the financial background to write financial forecasts, you may want to leave room in your budget for accounting support. 

If you’re starting or investing in an unfamiliar market, a CPA will help you navigate tricky tax issues that could throw off your projections. 

Include the expense of hiring an accountant in your plan if you decide to bring one on, and describe their role, whether it’s helping with budgeting, tax planning, or financial analysis.

• Download your free real estate investment one page sample business plan

Download your free real estate investment sample business plan right now, or explore the Bplans gallery of over 550 sample business plans if you want to see plans for other industries.

You can also see how other real estate businesses have written their plans by checking out our free library of real estate business plans .

There are many reasons why real estate investors should write a business plan . Not only does it demonstrate credibility to the banks or investors you want to fund your acquisitions — it also increases your chances for growth , and gives you a strategy to manage your finances for the long term.

Elon is a marketing specialist at Palo Alto Software, working with consultants, accountants, business instructors and others who use LivePlan at scale. He has a bachelor's degree in journalism and an MBA from the University of Oregon.

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BUSINESS STRATEGIES

How to create a real estate business plan

• Nirit Braun
• 10 min read

A real estate business plan is a strategic document that outlines the objectives, strategies and tactics a person or a team will employ when starting a business in the real estate industry. This comprehensive and clear plan not only defines the business' mission, vision and goals but also delineates the steps necessary to achieve them.

When starting a business, especially in a dynamic and competitive sector like real estate, a well-crafted business plan becomes an indispensable tool for success. Beyond helping business in their first steps to understanding how to start a service business , a business plan provides a structured framework that helps entrepreneurs make informed decisions, allocate resources effectively and stay focused on their objectives. By articulating the business' value proposition, rental business ideas , target market, competitive landscape and revenue streams, the plan offers a holistic understanding of the venture's potential and challenges.

Looking to kick off your real estate business? Create a business website today with Wix. These real estate agent websites can help you get started.

In this section, we'll break down the key components involved in crafting a successful real estate business plan in six steps.

Executive summary

Company and domain name

Market analysis and research

Operations plan

Marketing and advertising plan

Financial plan

01. Executive summary

An executive summary is a concise overview of your entire real estate business plan. It serves as a snapshot that captures the essence of your venture, highlighting its key components and objectives. A well-crafted executive summary should provide a clear understanding of your real estate business' purpose, market opportunity, strategies and potential for success. It's typically the first section of the business plan and should be written after the rest of the plan has been completed.

To write a clear executive summary for a real estate business, follow these steps:

Start with a brief introduction: Describe your business’ mission, vision and the services you intend to offer. Highlight what sets your business apart in the competitive real estate landscape.

Summarize the market demand: Explain what kind of opportunity you aim to address with this type of business . Mention key trends in the real estate industry that support the viability of your venture.

Identify your target audience: Whether it's first-time homebuyers, property investors or commercial clients, briefly describe their demographics and needs.

State the unique value you offer to clients: This could be exceptional customer service, a specialized focus or innovative technology solutions.

Outline your key real estate marketing strategies : Highlight how you plan to reach and engage your target market.

Provide a high-level overview of your projected financials: Include revenue projections, startup costs and funding requirements.

Introduce the key members of your team: Highlight how their skills contribute to the success of the real estate business.

Example of an executive summary for a real estate business: “ABC Realty is a dynamic real estate agency that specializes in helping first-time homebuyers navigate the complex property market. With a strong commitment to providing personalized guidance and support, we aim to simplify the buying process and empower our clients to make informed decisions. Our target market consists of young professionals and families looking for their dream homes in urban areas. Leveraging the latest technology and data analytics, we offer a seamless search experience that matches buyers with their ideal properties. Our marketing strategy involves a mix of social media engagement, local partnerships and educational workshops to establish our brand as a trusted resource in the real estate industry. Backed by a team of experienced agents and industry professionals, we are well-positioned to make homeownership dreams a reality while achieving sustainable growth and profitability. Our projected financials indicate a steady upward trajectory, with a goal of reaching profitability within the first two years.”

02. Company and domain name

Knowing how to name a business is crucial for a real estate venture and a key step before you register your business . It shapes your brand identity, influences client perceptions and establishes trust.

Additionally, selecting a suitable domain name for your real estate website is crucial for online visibility and accessibility. Your online presence should be in top form taking into account that 97% of homebuyers search for their homes online. Here's how to approach these decisions:

Company name

Should reflect your business' values and services

Keep it concise, memorable and easy to spell

Check for trademark conflicts to avoid legal issues

Consider using the free business name generator from Wix for inspiration

Be inspired by these real estate business name lists.

Domain name

Align it closely with your company name if possible

Choose a domain extension (.com, .net, .org) that's commonly recognized

Keep it short and free of complex words or hyphens

Ensure it's easy to pronounce and type

Learn more: How to make a website

03. Market analysis and research

Incorporating comprehensive market analysis and research into your business plan is essential for understanding the competitive landscape and formulating an effective business strategy. Conduct market research to identify trends, competitors and potential gaps in the market. Analyze your target audience's preferences, behaviors and pain points to tailor your services and marketing efforts accordingly.

Understanding the market dynamics allows you to position your real estate business strategically and offer unique value propositions that resonate with clients.

04. Operations plan

An operations plan outlines the logistical aspects of your real estate business, ensuring its smooth day-to-day functioning. This section should cover:

The physical location of your business office or headquarters

The size and layout of your office space

The equipment and technology required to run your real estate business

The roles, responsibilities and qualifications of your team members

05. Marketing and advertising plan

In the competitive real estate industry, a robust marketing and advertising plan is vital for attracting clients and establishing your brand presence. Your plan should encompass various marketing strategies , including:

Social media marketing, search engine optimization (SEO) and online advertising

Creating valuable content like blog posts, videos and guides

Establishing partnerships with local businesses and industry associations

Hosting events and workshops that educate clients about real estate trends

You’ll also need to develop a suite of brand assets to use in your marketing efforts, starting with a company logo and real estate slogan . You can use a free logo maker or real estate logo maker to get a professional design in minutes. Learn how to make a real estate logo that suits your brand.

06. Financial plan

The average cost to start a real estate brokerage can range from $10,000 to $200,000 , so odds are you will need to secure financing. The financial plan outlines your real estate business' financial projections, funding requirements and path to profitability. It should include all your startup costs including starting an LLC , licensing, office setup, marketing materials and technology needs.

Next, estimate income based on property sales, commissions and other revenue sources. Alongside this outline ongoing operational costs, such as rent, salaries, marketing and utilities. Then take the time to specify how your business will be funded initially, whether through personal savings, loans or investor contributions. Finally, predict when your real estate business is expected to reach profitability based on your revenue and expense projections. You can include within this the exact ways to make money as a real estate agent .

Real estate business plan examples

Here are two templates for hypothetical real estate businesses, each including the main parts discussed in our how-to steps.

Real estate business plan template 1: ABC Realty

ABC Realty is a forward-thinking real estate brokerage focused on serving residential clients in urban areas. With a mission to simplify the home buying process for first-time buyers, we aim to provide personalized guidance and a seamless search experience. Our market research indicates a rising demand for affordable housing solutions and our team's expertise positions us well to address this need. Leveraging digital platforms and local partnerships, we're dedicated to establishing a brand known for trust, transparency and professionalism. Our financial projections show steady growth, with profitability projected within 18 months.

Company name: UrbanNest Realty

Domain name: www.urbannestrealty.com

Market analysis: Our research reveals a growing trend of Millennials seeking starter homes in urban areas.

Competitive landscape: Competitor analysis highlights the need for tailored customer service and simplified processes. We will tap into this by offering comprehensive support and leveraging technology to streamline transactions.

Location: A prime urban location with easy accessibility.

Premises: A modern office space designed for client consultations and agent collaboration.

Equipment: State-of-the-art computers, customer relationship management (CRM) software and virtual tour technology.

Staffing: Agents, property management experts and administrative staff.

Digital marketing: Social media campaigns, targeted online ads and search engine optimization.

Content marketing: Regular blog posts on home-buying tips, neighborhood insights and market trends.

Networking: Partnerships with local lenders, moving companies and interior designers to provide added value.

Events and workshops: Monthly homebuyer seminars and virtual property tours.

Startup costs: $60,000 (licenses, office setup, marketing materials)

Revenue projections (first year): $300,000

Revenue projections (section year): $500,000

Expenses: Monthly rent, salaries, marketing expenses and administrative costs

Funding: Personal savings and a small business loan

Profitability timeline: Projected within 18 months

Real estate business plan template 2: Empire Investments

Empire Investments is a dynamic real estate investment firm specializing in commercial properties. With an aim to provide high-value investment opportunities, we focus on acquiring and enhancing properties with substantial growth potential. Our strategy involves leveraging market trends, identifying undervalued assets and optimizing their value through strategic renovations and management. Our team of seasoned professionals ensures a comprehensive approach to portfolio management, driving investor returns. Our financial outlook is promising, with steady revenue growth projected over the next five years.

Company name: Empire Investments

Domain name: www.empireinvestmentsre.com

Market analysis: Our research highlights an increasing demand for mixed-use properties in urban areas.

Competitive landscape: Competitor analysis reveals a gap in the market for value-add properties. We'll focus on acquiring underperforming assets with the potential for repositioning and strong cash flow.

Location: Central business district for easy access to commercial properties.

Premises: A professional office space for meetings and deal analysis.

Equipment: Advanced financial analysis tools and property management software.

Staffing: Investment analysts, property managers, legal experts and administrative support.

Networking: Building relationships with commercial brokers, property managers and industry experts.

Content marketing: Thought leadership articles, market reports and investment guides.

Webinars and seminars: Monthly webinars on commercial real estate investment strategies.

Direct marketing: Targeted outreach to potential investors based on investment preferences.

Startup costs: $150,000 (licenses, office setup, due diligence expenses)

Revenue projections (first year): $1,000,000

Revenue projections (second year): $2,000,000

Expenses: Office overhead, salaries, marketing campaigns and property management costs

Funding: Combination of private equity, investor capital and personal investments

Profitability timeline: Positive cash flow projected within the first year, substantial returns expected over five years

Top benefits of writing a real estate business plan

Starting a business in real estate requires careful planning and a well-structured business plan offers a multitude of benefits that contribute to the venture's success. A business plan helps you in the following ways:

Attracting investors and funding: A well-developed business plan serves as a persuasive tool to attract potential investors and secure funding. It outlines the business's unique value proposition, market opportunities and growth strategies. By clearly articulating the revenue model and projected financials, entrepreneurs demonstrate their preparedness and potential returns, increasing the likelihood of obtaining an investment and raising money for a business .

Resource assessment: Writing a business plan helps entrepreneurs understand the resources, supplies and staff required to launch and operate the real estate business. This comprehensive assessment ensures that nothing is overlooked, from property acquisition and renovation costs to marketing expenses and administrative needs. By listing these requirements, entrepreneurs can plan for adequate funding and efficient resource allocation.

Strategic direction: A business plan outlines the business's short-term and long-term goals, providing a strategic direction for the real estate business. Entrepreneurs can define their target market, geographic focus and property types, enabling them to make informed decisions aligned with their objectives. This clarity prevents aimless pursuits and helps maintain focus on strategies that align with the business' vision.

Risk mitigation: A well-structured business plan anticipates potential challenges and outlines strategies to mitigate risks. Entrepreneurs can identify industry-specific challenges, such as market fluctuations or regulatory hurdles and devise contingency plans. By acknowledging these risks upfront, entrepreneurs can proactively address them and adapt their strategies as needed.

Operational efficiency: The business plan details the organizational structure, roles and responsibilities required to run the real estate business smoothly. Defining these elements helps entrepreneurs allocate tasks effectively and ensure that the right people are in place to execute the business strategies. This clarity enhances operational efficiency and minimizes the potential for confusion or overlaps.

Measurable progress: A business plan sets clear milestones and metrics to measure the real estate business' progress. Entrepreneurs can track key performance indicators (KPIs) against the projected goals, enabling them to assess their success and identify areas for improvement.

Real estate business plan FAQ

What is a business plan in real estate.

A real estate business plan is a document that outlines your goals and strategies for starting or growing a real estate business. It should include a market analysis, a business model, an operational plan and a financial plan.

Which real estate business is most profitable?

Can you become a millionaire from owning real estate, is it a good idea to start a real estate business, how do i organize my real estate business, want to create another type of business plan.

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Ultimate Guide: 11 Points to Writing a Real Estate Business Plan

Failing to plan is planning to fail. Your business plan is the GPS for success. Instead of wandering, push towards your goals and objectives with clear direction. Developing a real estate business plan is critical to forming a healthy and sustainable business. 

A real estate business plan is an important step for any real estate agent looking to build a successful career in the industry. While there is no one-size-fits-all approach, there are certain key elements that should be included in any plan. First and foremost, it is essential to set clear goals and objectives.

A study of 2,877 business owners found that companies are twice as likely to secure loans and funding if they have a business plan and 75% more likely to grow. Another study showed that 64% of companies who created a plan increased their businesses, compared to 43% of companies that hadn't yet finished a plan. 

Your own business plan is an essential tool for any business, small or large. Real estate agents use business plans to map their marketing strategies, target their advertising, and track their progress. A business plan helps agents set goals and stay on track throughout the year. It is also a valuable reference point when meeting with clients and potential investors. 

While there are many different ways to create a real estate business plan, certain elements should be included in every scenario. These elements include an overview of the business, the company's goals and objectives, a marketing strategy, and a financial analysis. By having these key components, companies can ensure that their real estate business plan is comprehensive and will help them achieve their desired results.

Harvard Business Review (HBR) stated that the chances of success rose by 12% for those that spent no longer than three months on their plan . With any longer proving futile. So, how do you write a business plan for your real estate business without getting bogged down in the details? In this post, we'll look at actionable steps agents and brokers can take to outline, execute and measure the performance of a business plan.

As a real estate agent, you know that the housing market can be unpredictable. You need to be prepared for the ups and downs of the market, and one way to do that is to have a business plan. Your business plan will help you set goals and track your progress. It will also force you to think about the costs of running your business and how you will generate leads. There are many online resources that can help you write a business plan, but the most important thing is to get started. By taking the time to write a plan, you will ensure that your business is ready for whatever the housing market throws your way.

What is a real estate business plan?

A business plan is a written document that captures the future of your business. It details what you plan and how you plan to do it.

Real estate business plans are essential for two reasons. First, they provide a road map for agents to follow as they work to build their businesses. Second, they force agents to think through all the crucial aspects of their business, such as their marketing efforts, target market, and financial goals. 

By taking the time to write a Real Estate Business Plan, agents can ensure that they are taking all the necessary steps to build a successful business.

A Real Estate Business Plan is an essential tool for any business, whether you are just starting or have been in business for years. There are many benefits to creating a Real Estate Business Plan, including: 

• Having a Real Estate Business Plan forces you to take a step back and assess your business as a whole. It allows you to see where your business stands, and identify any areas that need improvement.
• A Real Estate Business Plan provides a roadmap for your business. It can help you to set goals and track your progress over time.
• A Real Estate Business Plan can help secure your business funding. If you seek investment from Venture Capitalists or Banks, they will often require a copy of your business plan before considering your request.
• A Real Estate Business Plan can help you to attract and retain top talent. If you are looking to hire employees or contractors, having a well-crafted business plan can be a significant selling point.
• A Real Estate Business Plan can be a valuable tool for managing day-to-day operations. A clear and concise plan can help you better decide where to allocate resources and how to utilize your team's time and talents best.
• A Real Estate Business Plan can help you to measure and track your marketing efforts. By setting specific goals and objectives, you can more effectively gauge the success of your marketing campaigns and make necessary adjustments along the way.
• A Real Estate Business Plan can serve as a valuable sales tool. A professional business plan can give you a significant competitive advantage if you are looking to sell properties or convert leads into clients.
• A Real Estate Business Plan helps to keep you organized and on track. Trying to run a successful real estate business without a plan is like trying to drive from New York to Los Angeles without a map - chances are, you'll get lost along the way!

Having a Real Estate Business Plan gives you credibility in the eyes of others. If you are working with other professionals such as lenders, appraisers, or title companies, having a well-developed business plan shows that you are serious about your business and increases the likelihood that they will want to work with you in the future.

Last but not least, creating a Real Estate Business Plan is empowering! Taking the time to develop a comprehensive plan shows that you believe in yourself and your business and sets the foundation for long-term success.        

Precisely, it conveys your business goals, the strategies and tactics you'll use to achieve them, potential problems you may run into along the way and how to overcome them, roles and responsibilities, SWOT analysis, and measurement strategies.

What should a real estate business plan include?

Real estate business plans are different from traditional business plans. 

Real estate agents need to focus on their target market, their uniqueness, and how they will succeed against the competition. Real estate business plans should also include an analysis of the current market conditions and the potential for growth in the future. In addition, real estate agents should outline their marketing strategy and have a budget for advertising and promotions. By taking the time to create a comprehensive business plan, real estate agents can increase their chances of success in this competitive industry.

Real estate business plans vary in length and complexity, but all should include the following elements: 

• An overview of the real estate market 
• A description of the agent's target market 
• A marketing plan 
• A financial plan 
• A discussion of the agent's competitive advantages 

Real estate business plans provide a roadmap for agents to achieve their goals. They should include specific strategies for generating leads, marketing properties, and closing deals. The business plan should also outline the agent's budget and target income. Additionally, the real estate business plan should set forth a schedule for prospecting, listing appointments, and open houses. By following a real estate business plan, agents can increase their chances of success in real estate.

How do you assemble a real estate business plan?

A business plan is essential for any real estate business, whether you're just starting out or have been in the industry for years. It provides a roadmap for your business, laying out your goals and strategies for achieving them. But how do you go about assembling a business plan?

First, you'll need to identify your target market. Who are you trying to reach with your real estate business? Once you know your target market, you can start developing your marketing strategy. What methods will you use to get potential clients? How will you differentiate yourself from other real estate businesses in your area?

Next, you'll need to put together a financial plan. What are your revenue sources? How much money do you expect to bring in each month? What are your expenses? How much do you need to save for a rainy day? A clear financial picture will help you make sound decisions for your business.

Lastly, don't forget to include a personal development plan. What skills do you need to improve to succeed in the real estate business? What classes or training programs can you take to close more deals and earn more commissions? A well-rounded business plan will help ensure your real estate business is booming.

Writing a Real Estate Business Plan in 11 Easy Steps

1. write a detailed business description.

There's a story and context behind your business, and the business description is where that should shine. Write a brief overview of your Real Estate business. Include your business goals and how you plan on achieving them. Then create a description of your company, including its history, structure, and other relevant information.

The mission statement is part of the business description — which helps keep the rest on the track. Many mission statements follow a familiar format, like:

"To be the best, full-service Real Estate company in the Triangle and to enhance our quality of life through active community involvement.".

In a microstudy of 200 mission statements, it was found that mission statements most often talk about the company's dedication to customers (85%), shareholders (37%), employees (21%), and society (3%).

As well as a defined mission statement, make sure to include:

• When you were founded
• Where you are located
• Who the leaders are
• Special advantages/partnerships
• Market opportunities
• Legal structure

A very brief real estate business description example is:

"Norris & Company Real Estate is Vero Beach's premier upscale real estate firm. They specialize in luxury waterfront homes and condominiums, particularly in Vero Beach and Indian River County, FL."

2. Market Analysis

Research the Real Estate market in your area and identify any trends or opportunities. Include this information in your business plan.

Real estate agents must constantly be aware of the market conditions in their area to serve their clients best. Agents can provide expert guidance and advice by understanding the trends and opportunities.

When writing your Real Estate business plan, including a comprehensive analysis of the market conditions in your area. It will help you better understand your client's needs and identify potential opportunities.

Your market analysis should include:

• An overview of the Real Estate market in your area
• Identification of any trends or opportunities
• An explanation of how you will address these trends or options in your business plan

By including this information in your Real Estate business plan, you will be able to show potential clients that you are knowledgeable and prepared to help them navigate the Real Estate market.

3. Perform a SWOT Analysis

A SWOT analysis is a technique used to identify and define several key characteristics that will impact your business: Strengths, Weaknesses, Opportunities, and Threats.

Think of it this way:

Strengths and Weaknesses are internal. Threats and Opportunities are external.

An analysis can be as simple as making lists of items under each category.

For example, a strength could be a solid and experienced sales team, while a weakness might be that your business is expensive to run because you haven't nurtured supplier relations.

It could be as simple as filling four sheets of paper with descriptions of the strengths, weaknesses, opportunities, and threats — collaboratively or alone. To make the answers clearer and the exercise more manageable, you can use questions like:

• What do our competitors do better than us? Threat .
• What's our unique selling point? Strength .
• Why have customers churned in the past? Weakness .
• Which markets are underserved in your territory? Opportunities .

4. List Your #1 SMART Goal

It's great to be ambitious, but focusing on one goal makes it easier to stay motivated, track progress, and see the measurable effect of achieving it. Even better if that goal is a SMART Specific, Measurable, Attainable, Realistic, and Timed – goal.

Examples of SMART goals you might set for your growing real estate business are:

• Build a new real estate website in the next three months
• Hire and onboard three new SDRs in the next six months
• Increase monthly leads by 50% by next year
• Sell ten houses in the Dallas metro area in the next 30 days.

Pick one at a time and focus on it! Sticking to an achievable goal with a time limit makes it more likely to come to fruition. And, even just writing it down makes you 42% more likely to attain it.

5. Identify Your Market Niche

Before setting out your facts and figures, it's essential to spotlight your target market and how you'll serve this niche. It helps you decide what's realistic and feasible to achieve in your business plan.

Determining your market niche is a fancier way of saying: Who are your services best suited to? While honing in on a narrow target seems a little exclusionary, niche marketing can save you time, effort, and money on marketing.

One tool to help you define your market is a buyer persona. A persona is a fictional typification of your ideal customer, with information that enables you to steer your sales and marketing in the right direction.

It's essential to assess your niche and ensure it is consistent with the market in your area.

For example, if you've decided to focus on first-time buyers, do some research to look at relevant stats and figures:

• What percentage of sales in your market were to first-time buyers in the last 12–14 months?
• What was the average sales price to first-time buyers?

Also, assess how competitive this market is:

• Are you the only agent catering to the young first-timer?
• Are you competing with well-known heavy hitters?

A competitive SEO audit can be a helpful starting point in finding your competitors in the online space, where almost all leads will turn at some point in the buying process.

6. Implementation Plan

Before you can begin implementing your real estate business plan, you must clearly understand your goals and objectives. What are you trying to achieve with your business? Are you looking to buy and hold properties for long-term appreciation, or are you more interested in flipping houses for a quick profit? 

Once you have a good idea of your goals, you can start to put together a plan for how to achieve them. For example, if you're interested in buying and holding properties, you'll need to generate enough income from rentals to cover the mortgage and other expenses. If you're more interested in flipping properties, you'll need to find motivated sellers and then negotiate deals that provide you with a healthy profit margin. 

Regardless of your goals, careful planning is essential for success in the real estate business.

Breaking your goals into action steps makes them more tangible and ensures you're making strides to fulfill them. Here are some keys to converting your real estate business plan into actual business practices.

7. Monitoring & Evaluation

Successful real estate businesses have a plan to monitor and evaluate their progress. This plan includes setting clear goals, measuring progress against those goals, and making adjustments as needed. Without this proactive approach, it can be challenging to identify areas of improvement or stagnation. 

Additionally, a well-executed monitoring and evaluation plan can help to keep employees focused and on track. By regularly assessing performance and goal progress, businesses can ensure that they are making the most of their resources and achieving their desired results. Ultimately, a sound monitoring and evaluation plan are crucial for any real estate business that wants to stay ahead of the competition.

8. Risk Management

Real estate investing comes with a certain amount of risk. But with a well-thought-out risk management strategy, you can minimize the potential for loss and maximize your chances for success.

One of the most critical aspects of risk management is diversification. Investing in various property types in different markets spreads your risk and increases your chances of finding a profitable investment.

Another critical element of risk management has a solid business plan. Thoughtfully consider each step of the real estate investing process, from finding deals to financing them to managing the properties. Have a clear exit strategy for each investment to know when to sell or refinance. And always remember to stay within your comfort level; don't let greed or fear make decisions for you.

With careful planning and discipline, you can create a real estate investment portfolio that withstands market fluctuations and generates long-term wealth.

9. Financial Plan

Having a sound financial plan for your business is essential. To assist you, we've created spreadsheets you can use to estimate goals, income, and expenses. You will find specific instructions in the spreadsheets, but here are some guidelines for creating a financial plan:

To create your plan, determine what your expenses will be.

Here are three main areas your expenses may fall into:

• Licensing: These expenses will include training, state exam fees, etc.
• Personal: This can consist of your wardrobe, technology fees (like computer and phone), and car fees.
• Business: Business expenses include broker fees, website and MLS fees, marketing, advertising, etc.

Our template divides these expenses into the startup and yearly costs to help you discern which payments will recur and which are one-time-only. Here's an example of what your startup expenses might look like.

Yearly expenses might include recurring costs like office rent, electricity bills, and annual license fees.

Estimating income is the biggest concern for most new agents. To do this, you must decide how much money you need to make in your first year and how much you would like that figure to grow. You will also need to research some basic statistics for your market, like the average sale price for homes.

Use our business plan template to help calculate these numbers.

Transactions and Leads 

To meet your income goals and cover expenses, you'll need to conduct a certain number of transactions. And, to complete a certain number of transactions, you'll need to work a set number of leads. There's no need to work this figure out by hand. ‍

Our template will automatically calculate the number of transactions and leads you will probably need to meet your goals. Still, you will have to assess these figures to decide whether they are reasonable. For example, if you plan to work part-time as an agent in your first year but need to close 20 transactions to meet your goals, you are unlikely to have enough time.

10. Create a Personal Development Plan

A personal development plan is an essential tool for any real estate business. By taking the time to assess your strengths and weaknesses, set goals, and create a roadmap for success, you can ensure that your business is on track to reach its full potential. While it may seem daunting, creating a personal development plan is simple. 

Start by taking stock of your current situation. What are your strengths and weaknesses? What are your goals for the future? Once you clearly understand where you are starting, you can begin to map out a plan of action. Set realistic goals and create a timeline for achieving them. Put together a resources list and ensure you have everything you need to reach your goals. Finally, implement your plan and monitor your progress along the way.

Remember, your development plan should be flexible and adapt as your needs change over time. With some planning and effort, you can create a roadmap for success that will help you achieve your long-term goals in the real estate business.

11. Write an Executive Summary that Captures the Vision

Your executive summary is an anchor point you can use to understand the overall goals, cement the parameters of your target market, and make decisions aligned with your plan. It's also a way to get inspired by your original vision.

For real estate, it would include points on:

• Target neighborhoods and price ranges
• Target clients and a brief description of the persona
• Brief marketing plan overview
• Market threats and opportunities

Think of the executive summary as the section of your business plan you would explain to a friend a football game when asked how you plan to make money as an agent or broker in your local town/ city or state.

Note: due to the specific details in the executive summary, this part of the business is typically one of the last completed items.

Real Estate Business Plan Template

If you're considering starting a real estate business, you'll need to create a business plan template. Here's a basic template that you can use to get started. Remember that your business plan should be tailored to your specific business and industry.

• Executive Summary

The executive summary is a brief overview of your business plan. It should include your company's mission statement and an overview of your products or services, target market, and growth strategy.

• Company Description

This section will provide an overview of your company, including its history, structure, and team. Be sure to include information on your company culture and values.

• Mission statement

In this section, you will summarize the reason for being and the guiding principles of your organization. For example: "We are a nonprofit that provides free legal aid to those in need." You can also provide a brief overview of what we want them (the users) to come into contact with. 

Why should they care about our mission or message by telling them why it is vital to their lives now and later down the line?

• Company goals

This section will provide a high-level overview of your company's top business goals for its first years in operation.

• Market Analysis

In this section, you will need to analyze your target market thoroughly. It should include information on your customers, your competition, and the overall industry.

• Product or Service

In this section, you will need to describe your product or service. Be sure to include information on your pricing strategy and any unique features or benefits your product or service offers.

• Marketing and Sales Strategy

In this section, you will need to outline your marketing and sales strategy. It should include information on how you plan to generate leads and convert them into customers.

• Operational Plan

This section will need to provide an overview of your business operations. It should include your production process and distribution and fulfillment strategy.

This section will briefly describe what your company offers to customers.

• Target customer

To effectively reach the people we want as customers, you must provide a clear overview of who they are and how your product or service can benefit them. In this section, I'll go over some questions worth asking yourself when determining who your potential clients may be. 

• Best Practices

Write out your ideal practices for how you'll deal with qualified leads versus unqualified leads, how quickly you'll follow up with interested parties, your methods for helping a leader throughout the final steps of the sales process, and how you'll stay in touch with customers after papers have been signed.

• Financial Plan

In this section, you will need to provide detailed financial information for your business. It should include your income, balance, and cash flow statements. The following will include startup expenses, assets, liabilities, capital, break-even analysis, and loan repayment.

• Exit Strategy

This section will need to provide an overview of your exit strategy. It should include information on how you plan to sell or exit your business in the future.

Individual Agent Real Estate Business Plan

Real estate agents need a business plan like any other entrepreneur. A real estate business plan outlines your goals, strategies, and how you plan on achieving them. It is essential to have a business plan because it will help you stay focused and on track. Real estate is a competitive industry, so you need to be able to stand out from the rest.

A business plan will also be helpful if you ever need to seek funding for your business. Investors and lenders will want to see that you have a well-thought-out plan before they give you money. 

Creating a Real Estate Business Plan is essential if you want to build a successful career in real estate. With our easy-to-use template, you can get started today and be on your way to achieving your long-term goals.

There are many benefits to creating a Real Estate Business Plan, including:

• Clarifying your goals and strategies
• Mapping out a clear road map for your business
• Identifying potential obstacles and solutions
• Helping you stay organized and on track
• Increasing your chances of success

So, if you are considering starting a real estate business, sit down and write a business plan. It will be worth it in the long run!

Real Estate Team Business Plan

Before you start your real estate team, it's essential to have a business plan in place. It will help you define your goals, map your strategies, and track your progress over time. While there is no one-size-fits-all approach to creating a business plan, certain key elements should be included. Here are a few of the most important things to keep in mind:

• Your team's mission statement: What sets your team apart from the competition? Why do you exist?
• Your target market: Who are you trying to reach with your services? What needs do they have that you can address?
• Your marketing strategy: How will you get your target market and communicate the benefits of working with your team?
• Your financial goals: How much revenue do you hope to generate? What are your expenses? How will you fund your business?

By thoughtfully developing your real estate team business plan, you'll increase your chances of success in an increasingly competitive industry.

Real Estate Brokerage Business Plan

A real estate brokerage business plan is a document that outlines the goals, strategies, and financial projections of a real estate brokerage business . It should include an executive summary, market analysis, business model, operational plan, and financial plan. The executive summary should briefly describe the company, its target market, and its competitive advantages. The market analysis should assess the size and growth potential of the target market. 

The business model should describe how the real estate brokerage plans to generate revenue. The operational plan should outline the business's day-to-day operations, including staffing and marketing initiatives. Finally, the financial plan should provide detailed information on the anticipated costs and revenues of the company. A well-crafted real estate brokerage business plan can be valuable for attracting investors and achieving long-term success.

Remember that your business plan is a living document that should be updated as your company grows and evolves. Regularly reviewing and revising your business plan ensures that your real estate brokerage is always moving in the right direction.

Ready. Set. Plan

Whether you've got a ready-to-execute business plan or it's still being drafted, the most important thing is to start now — and fast.

At its core, a real estate business plan should outline the steps necessary to achieve specific goals, such as increasing sales or expanding into new markets. It should also identify potential obstacles preventing the business from achieving its objectives. By taking the time to create a comprehensive business plan, real estate businesses can increase their chances of weathering storms and coming out on top in the long run.

A business plan puts you on a clear track that makes your business 75% more likely to grow.

By following the above points, you'll be well on writing a comprehensive Real Estate Business Plan.

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Real Estate Business Plan Template

Download our template and create a business plan for your real estate business!

Updated September 22, 2023 Written by Josh Sainsbury | Reviewed by Brooke Davis

A real estate business plan is as essential as a business plan for any new or existing business. This step-by-step guide will explain how to make a real estate business plan, provide a real estate business plan template for you to work with, and explain how and why each step is necessary for your business plan to be effective.

We also provide links to downloadable templates to help you create your real estate business plan and sample plans to show you the best ways to tailor your plan for any number of real estate business needs.

Whether you seek investors to grow your business or want to track your goals from year to year as your business develops, a carefully crafted plan will help you.

Why You Need a Business Plan for Your Real Estate Business

How to write a business plan for real estate, real estate business plan sample.

The real estate business plan fills several needs. It gives you an outline of your business goals and the direction you want your business to take. It keeps you in line with industry trends. It lets you monitor your annual performance and change your goals as the market changes.

An effective real estate business plan also acts as a financial summary of your business, showing how it stands about your competition and the industry. The business plan acts as a road map for you and a snapshot of your business for any investors or bankers who want to understand your business.

A real estate business plan will help you spot risks and weaknesses early in your business development and help you set realistic goals for your business.

These are known as SMART goals: Specific, Measurable, Achievable, Relevant, and Time-based goals.

Creating a business plan without goals is like starting a journey without a destination. Having a destination without a map means going down many blind alleys, taking unnecessary detours, and wasting time as you frequently need to return and start again.

Your business plan will help you avoid these pitfalls and adjust your course while you travel towards your final goal — a successful real estate business.

You must cover critical topics and include the correct information to ensure your business plan is as effective as possible. Follow our guide to writing a well-formed real estate business plan below.

1. Executive Summary

The executive summary contains an overall review of the rest of the business plan. It should include an outline of your history, your mission statement, and an overview of the rest of the report.

This section will include things like:

• Target clients with a fictional “ideal buyer” persona;
• Target neighborhoods, price ranges, and listings;
• Market overviews and potential threats and opportunities;
• A marketing plan outline.
• Your mission statement. This should include where and how your agency was founded, discuss the legal and financial structure, and stress your dedication to your customers and any special advantages you provide to your target clients.

2. Management Team

If you have a management team or a group that has contributed to the business’s success, summarize their names and contributions.

This section highlights everyone who has been involved in your business.

• Owners, founders, and original managers;
• New management, assigned duties and areas, and specific clients;
• Planned management expansion and anticipated managerial goals.
• Include all information about your managers, names, positions and duties, education and work history, past business successes, and other relevant details. Think of this section as your management team’s biography.

As the business expands, your management team section will be one section that needs constant improvement and updating.

3. Products and Services 

Your products and services should be phrased to make you unique in the industry and highlight how you stand out from your competitors. As a real estate business, what do you provide for your clients that others do not? How do your agents compare with your competition?

In real estate, your product is your listing and your brand. What is it that makes your company the one that your target buyer wants to use? In this section, you will highlight the following:

• Your niche market and how you acquire specific listings in your area;
• Your lead generation model and the way you obtain leads that differentiate you from your competitors;
• Your branding. A defining brand can be nebulous, and many firms resort to hiring a brand agent to help them customize and market their brand. You may be a family-friendly agent or specialize in the young professionals market. Determining how you present yourself is critical to your service profile.

4. Customers and Marketing

The customers and marketing section lets you identify your niche within the real estate business and how you intend to reach them.

You defined your ideal customer in your executive summary; now is where you expand on your perfect customer “persona.” A “persona” is the industry name for the imaginary person you sell to.

• Their demographics, age, gender, job, family preference, and income.
• Deal-breakers. What do they have to have in a home? What can they do without?
• Amenities, recreation, entertainment. Does your ideal buyer need dog parks nearby or bike paths? Do they want access to the water or the theater district?
• What type of neighborhood is your ideal buyer looking for? Do they need a school district or prefer to be far from children?

After establishing your ideal customer, you can select the viability of your marketing niche. For instance, is your buyer likely to be a first-time buyer? If so, what percentage of first-time sales were made in your chosen area in the last two years?

The more detailed you can make your Customers and Marketing section, the more you know how your business will likely thrive in your chosen area.

5. SWOT Analysis

Strengths, weaknesses, opportunities, and threats are necessary for every business analysis. In what areas are you and your business strongest, and where do you need improvement?

Investors appreciate a business owner who can accurately pinpoint their good and bad points and demonstrate how to improve.

This analysis should be fact-based, not opinion-based. You should be able to provide statistics and metrics for your and your competitors’ business research. Some things to consider are:

• In what areas of your business plan are you strongest? Are they similar or dissimilar to your nearest competitor’s strengths?
• In what areas are you weakest? Are you weak where your competitors are strongest?
• What opportunities can you exploit in the next six to 12 months? Are these opportunities unavailable to your competitors?
• What threats are you facing in the next year? How can you avoid these threats or turn them into advantages?

By analyzing your business objectively and reviewing all the facts and numbers, you can determine how you will be placed in the next year.

6. Financials 

The meat of your business plan is the financials. This includes your expenses, annual income forecast (sales, commissions, or other income), cash flow, and costs. As your business grows, your business plan will include previous years’ financials to track the growth.

Your financials should include, at a minimum:

• Expenses. These include operating expenses, whether you have a physical location or are still in the virtual stage of operations, licensing and permitting, fees and filing costs, and other operating expenses. If you have employees, it will also include payroll.
• The past income portion will track how much you have already made. You should be able to show how many leads you have generated, how many transactions you made, and your income from those efforts.
• Future income is how much you would like to make going forward. You can estimate how many leads are needed per transaction and how many transactions per sale from your past efforts.
• Goals. With this information, you should include your projections for the next year and five-year periods. Presumably, you wish to increase profit over the next five years. You can demonstrate how to achieve these goals using income tracking and market research.

7. Operations

Operations contain the moving parts of your financial projections. This section describes how you intend to reach your business goals in the upcoming year. This section might also include upcoming personnel changes, office expansions, etc.

Real Estate operations can include your projected hours of operation, your action plan for achieving your goals, and your marketing and advertising plan. Initially, this may be somewhat fluid if you do not plan to have set hours of operation or a brick-and-mortar office.

Later, as your business increases, this section will include business hours, open house times, etc.

8. Appendix

If your real estate business plan includes any ancillary documents, such as your Articles of Incorporation or a  Business Purchase Agreement , they would be included in the Appendix.

After your first real estate business plan, your previous years’ plans will go into the Appendix so they can be reviewed by potential investors or by your board. You can also include your quarterly statements and other financial documents.

Your Appendix is the section for any documents you want to have that are not essential for your readers’ overall understanding.

Now that you know what goes into your real estate business plan, all that is left for you to do is click on the business plan creation template and begin. Ensure you have all your documentation and research-ready in advance, and the template will provide you with cues as to what information needs to go into which spaces.

After filling in all the blanks, the template will generate a real estate business plan to your specifications.

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Real Estate Executive Summary Template

• Great for beginners
• Ready-to-use, fully customizable Doc
• Get started in seconds

When it comes to real estate investments, having a compelling executive summary is crucial for capturing the attention of potential investors and partners. That's where ClickUp's Real Estate Executive Summary Template comes in handy!

With ClickUp's template, real estate executives can:

• Present a comprehensive overview of their project, including key details like location, financial projections, and market analysis
• Streamline the decision-making process by providing all the necessary information in a concise and organized format
• Attract potential investors or partners by highlighting the investment objectives and showcasing the potential ROI

Whether you're looking to secure funding for a new development or expand your real estate portfolio, ClickUp's Real Estate Executive Summary Template has got you covered. Start impressing potential investors today!

Benefits of Real Estate Executive Summary Template

When it comes to real estate projects and investment opportunities, having a comprehensive executive summary is crucial. With ClickUp's Real Estate Executive Summary Template, you can:

• Present a clear and concise overview of your real estate project or investment opportunity
• Highlight key details such as location, financial projections, market analysis, and investment objectives
• Facilitate decision-making by providing all the necessary information in one place
• Attract potential investors or partners with a professional and well-organized executive summary

Main Elements of Real Estate Executive Summary Template

Create professional and comprehensive real estate executive summaries with ClickUp's Real Estate Executive Summary Template. This Doc template includes:

• Custom Statuses: Track the progress of your real estate projects with custom statuses such as In Progress, Completed, and Pending Approval.
• Custom Fields: Capture essential information about properties, including property type, location, size, and price, using custom fields. Easily update and visualize property data in the document.
• Different Views: Access the executive summary in different views to suit your needs. Use the Document Outline view for a structured overview, the Side-by-Side view for easy comparison, and the Full-Screen view for distraction-free editing.
• Collaboration Features: Collaborate with team members and stakeholders in real-time. Leave comments, make suggestions, and track changes to ensure everyone is on the same page.
• Integrations: Connect ClickUp with other real estate tools, such as CRM systems and property management software, to streamline your workflow and enhance productivity.

How to Use Executive Summary for Real Estate

If you're in the real estate industry and need to create an executive summary, follow these steps to effectively use the Real Estate Executive Summary Template in ClickUp:

1. Gather essential information

Before you start creating your executive summary, gather all the relevant information about the property or project. This includes details such as location, property type, size, amenities, financial projections, and any unique selling points. Having all the necessary information at hand will ensure that your executive summary is comprehensive and informative.

Use custom fields in ClickUp to organize and track all the essential details for your real estate project.

2. Provide an overview of the property

Begin your executive summary by providing a brief overview of the property or project. Highlight key features, such as its location, size, and any distinctive characteristics that make it stand out. This section should give the reader a clear understanding of what the property offers and its potential value.

Use a Doc in ClickUp to draft a compelling overview section that captures the essence of the property.

3. Include financial projections

One of the most critical aspects of a real estate executive summary is the financial projections. Present data such as estimated property value, rental income, anticipated expenses, and potential return on investment. Including these projections will help potential investors or stakeholders assess the financial viability of the project.

Utilize the Table view in ClickUp to create a financial table or spreadsheet that clearly presents your projections.

4. Highlight market analysis

To provide a comprehensive view of the property's potential, it's essential to include a market analysis section. This should include information about the local real estate market, current trends, demand and supply dynamics, and any competitive advantages the property may have. A well-researched market analysis will demonstrate your knowledge and expertise in the industry.

Use the Calendar view in ClickUp to schedule and track market research activities and deadlines for gathering relevant data.

By following these steps and using the Real Estate Executive Summary Template in ClickUp, you can create a professional and informative executive summary that effectively showcases the value and potential of your real estate project.

Get Started with ClickUp’s Real Estate Executive Summary Template

Real estate executives can use the Real Estate Executive Summary Template to create a comprehensive overview of a real estate project or investment opportunity, ensuring that all important details are included.

To get started:

Hit "Add Template" to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you'd like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create an impactful executive summary:

• Use the Financials View to outline the financial projections and investment returns for the project.
• The Market Analysis View will help you analyze the local market conditions, including demographics, competition, and trends.
• Utilize the Maps View to pinpoint the location of the property and provide a visual representation for potential investors.
• Use the Project Timeline View to outline the key milestones and timelines for the project.
• Organize tasks into different statuses, such as Researching, Drafting, Reviewing, and Finalizing, to keep track of progress.
• Update statuses as you progress through each stage to keep stakeholders informed of the project's development.
• Regularly review and analyze the executive summary to ensure it aligns with the investment objectives and effectively communicates the value proposition.

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How to Write a Solid Real Estate Business Plan in 2024

March 13, 2024

If you want to grow your real estate business , then you’ll need to get clear on where you want to go and how you can get there.

Research from the Harvard Business Review indicates that entrepreneurs who create formal business plans are 16% more likely to achieve viability than those who don’t. Further studies also demonstrate that business planning can accelerate a firm’s growth by 30% , and the time invested in writing a business plan can significantly enhance the likelihood of success .

In this article, we’ll guide you through the critical elements of a strong real estate business plan, helping you create a unique strategy aligned with your company goals.

Find It Fast

Why every agent and broker should have a real estate business plan

A real estate business plan acts as a strategic blueprint for an agent, team, or brokerage, mapping out key facets, critical milestones, company goals, and the business’s overall financial health. A plan needs a clear vision and roadmap for how the company will achieve its goals and grow within its specific market.

Additionally, general business plans are pivotal in securing capital and compelling potential investors or partners. A great business plan can attract skilled employees and top-level talent, leading to further expansion and growth.

For an agent or a broker, a real estate business plan is essential for determining your identity in the luxury market and what you can offer clients. It helps you hone in on your ideal customer and allows you to assess the financial viability of your business easily. 

Your real estate business plan is a guide to your goals and a clear-cut strategy for how you can stand out from the competition, grow your business, and fulfill your overarching mission.

Real estate business plans: the basics

When constructing your real estate business plan, it’s best to keep things simple, manageable, and achievable. Focus on where you are now, where you want to go, and how you can reasonably get there.

Here are six critical elements of a straightforward real estate business plan:

• Executive summary:  The executive summary serves as a brief overview of who you are, your purpose, and your goals.
• Overview and objectives:  The overview and objectives section can vary somewhat based on your individual needs, but they should include your mission statement, your history, and your objectives.
• Market opportunities and competitive analysis:  Your business plan should outline where market conditions are ideal for the rapid growth of a business and what your competition is already doing in that space.
• SWOT analysis:  SWOT stands for Strengths, Weaknesses, Opportunities, and Threats and is a useful analytical tool for determining your strategic position.
• Marketing plan:  The marketing plan identifies and details how you will reach and attract your target audience.
• Financial plan:  A financial plan is a fairly straightforward snapshot of the economic health of your business.

Most business plans adhere to a timeframe of three to five years, though some are as short as one year, others as long as seven. Although everything in this article provides recommendations for a three to five-year plan, it’s worth looking beyond five years for future growth opportunities.

Creating your own real estate business plan 

Now that you know the main sections of your real estate business plan, let’s dive into exactly what goes into each element. 

Executive summary

A good summary is typically one to two pages (although one is optimal) and should include the following:

• Description of services
• Summary of objectives
• Brief market and competition snapshot (you’ll dive deeper into this later in your business plan)
• Capital or partnership requirements, if applicable

Your executive summary is the one part of your business plan you can recite from memory. There’s no fluff. Consider this your elevator pitch to sell your vision and convince others to join you on your mission.

Overview and objectives

Mission statement.

Your mission statement is why you do what you do—the guiding principles for your business. 

For example, here are two excellent real estate company mission statements:

• Compass : Our mission is to help everyone find their place in the world. Compass is building the first modern real estate platform, pairing the industry’s top talent with technology to make the search and sell experience intelligent and seamless.
• Sotheby’s Realty : Built on centuries of tradition and dedicated to innovation, the Sotheby’s International Realty brand artfully unites connoisseurs of life with their aspirations through a deeply connected global network of exceptional people.

Your history is just that—when you started, location, leadership, milestones, and notable services or specializations.

Objectives are your primary goals. A common technique for establishing your goals is through the “SMART” method, ensuring your goals are Specific, Measurable, Achievable, Relevant, and Time-bound.

Objectives that might cover the course of a five-year plan include:

• Rebrand the company website in 30 days.
• Establish a social media presence in 90 days.
• Close five transactions per month in year one and double transaction volume by year three.
• Double the size of the firm by year five.

Ensure your goals are targeted and realistic within your set time frame. 

More likely than not, your business will have multiple objectives simultaneously. Group them based on category and designate a team member who will be responsible for managing achievements, setting milestones, and assessing progress.

Market opportunities and competitive analysis

Understanding your market and your competition involves taking stock of the landscape’s size, demographics, demands, and trends.

Market opportunities

When determining your market opportunities in your business plan, consider the following questions: 

• What is the size and stability of the market?
• Is the market currently on an upward or downward trajectory?
• What are the current demographics of the market?
• What segment of the market do I want to target? 
• Is there a demand for a particular type of housing? 
• Are there more sellers than buyers, or vice versa? 

Also, pinpoint specific market circumstances that could significantly impact your business, like interest rate trends or local economic development. Be sure to document these insights in your plan as well. 

Competitive analysis

In many business plans, competitive analysis is worthy of its own standalone section. Regardless of how you present it, devote some space to your competition and thoroughly research what they currently do in the real estate market.

Include both immediate and secondary competitors, and note if the market is primed for new competitors in the future. Also, identify the risks and opportunities when comparing your niche market and services versus others vying for similar business. 

Remember to ask yourself:

• What do I offer clients that the competition does not? 
• Can I stand out in this market and generate revenue?
• How can I advertise myself to showcase these differences?

SWOT analysis

Through its matrix-like formatting, you can use data-backed facts to analyze your team’s strengths, weaknesses, opportunities, and threats in a visual way. Here are some questions you can ask yourself for each section:

• Is your brand recognizable?
• Do you have an in-house expert for each specialization within residential or commercial real estate (or both)? 
• Do you have an active pipeline of new leads ? 
• What is your unique selling proposition (USP)?
• Do you lack consistent social media or online content? 
• Is your brand relatively new or unrecognizable ?
• Are you missing out on lead-generation opportunities?
• Is your website engagement lacking?

Opportunities

• Has your team just branched out to a new area of real estate? 
• Is market demand growing in your area? 
• Have you uncovered a new source of referrals ?
• Are there any new teams in your niche that offer a USP similar to yours?
• Are mortgage rates rising enough to slow down demand?

By uncovering factors in each grid of the SWOT analysis matrix, you can identify areas that need immediate attention or capitalize on specific strengths.

Marketing plan

Creating a marketing plan is an exercise in understanding your ideal client and then molding a campaign that ensures you can target those customers. Here are a few key points to outline in your marketing plan:

Demographics

• Consider your ideal client persona, including age, location, income, and profession.
• Consider what attracts this ideal client. What are they looking for in properties? What are they avoiding?
• What type of neighborhoods, amenities, or lifestyle are they seeking?

Marketing channels

• Which platforms are your ideal clients engaging with the most? Which ones do your competitors frequently utilize?

Along with these aspects, consider how to position yourself better than your competitors to attract this client. Think about the benefits you can offer and how you can showcase this with a smart real estate marketing campaign .

Financial plan

A financial framework is a crucial aspect of your real estate business plan since it provides insight into the economic health of your business. It gives you a better idea of the valuation of your business, acts as a guide for your budget, and helps you set more realistic financial goals.  

Here are the elements of a financial plan that should be included:

Profit and loss statement

• This is also called an income statement or pro forma. This shows a company’s profitability (or loss) over a certain length of time.

Cash flow statement

• This statement provides an overview of your actual cash position.

Balance sheet

• A balance sheet shows where you stand regarding assets, liabilities, and equity at a specific point in time.

Operating budget

• An operating budget is a detailed view of your income and expenses, usually over 12 months. 

Break-even analysis

• This outlines the revenues necessary to cover all costs and your business’s potential to be profitable. 

Depending on your real estate business position or if you’re an individual broker or agent, you can simplify this area with just an operating budget and break-even analysis.

4 common mistakes agents make when creating a real estate business plan

1. thinking the business plan needs to be perfect.

Your real estate business plan will not be built overnight. You can still run a successful company while your business plan is being created. Instead of waiting to make a “perfect” business plan, follow our step-by-step guide to get started. Then, you can modify as you learn more about your client, your competition, and the trends in the market. 

2. Not having someone else review your business plan

Like any other business document, having a second pair of eyes review your real estate business plan is always helpful for typos or mistakes and for any glaring questions or inconsistencies. Be open to feedback from people, both in the industry and outside it—if someone is confused by an aspect of your plan, chances are they won’t be the only one. 

3. Not using the business plan to gain more clients

While your plan is useful for an overview of your business and its goals, don’t forget to use it as a guiding tool. For example, once you make your marketing plan, you’ll have a stronger idea of your ideal customer. So, be sure to use that information to create more targeted outreach efforts. This includes:

• Adjusting your marketing and advertising budget
• Creating a more targeted marketing campaign, including website, social media, and email
• Determining how to nurture non-specific outreach efforts such as referrals , SEO , and open houses
• Developing a data analytic strategy—how will you measure your marketing success and make changes if necessary?

4. Not coming back to the business plan 

Your real estate business plan is not a one-and-done proposition or something to be written, tossed in a drawer, and forgotten. 

Make time to periodically reevaluate your progress and see where you stand in reaching your goals. Once every 90 days is a good rule of thumb, but review more or less frequently as you see fit. And if you start hitting those goals early, take the time to make new ones.

Lastly, don’t be afraid to pivot if something isn’t working. Goals can change, so return to your business plan and modify it as your company ebbs and flows. 

Luxury Presence: your real estate business plan partner

With beautifully crafted websites, SEO strategists, and top marketing expertise, Luxury Presence is here to help you define your business and grow in the real estate market. Contact our team of experts today to refine your online presence and stand out from the competition.

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Executive Summary Examples for Business Plans, Project Plans, and Research Projects

By Kate Eby | February 8, 2024

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Executive summaries allow decision-makers to quickly grasp the key points of important documents and make decisions. We’ve collected a variety of executive summary examples and templates that you can use as models for your executive summaries. 

Included in this article, you’ll find a  business plan executive summary example , a  project proposal executive summary example , a  research report executive summary example , and more. Plus, learn  how to fix common executive summary mistakes .

What Are the Main Components of an Executive Summary?

An  executive summary is a concise overview of a larger document, report, or proposal. It gives high-level executives or decision-makers a quick understanding of the main points of a longer document without requiring them to read the whole text.   

These are the components you might include in an executive summary:   

• Problem Statement: Clearly state the problem or challenge the company, product, or project addresses.
• Key Proposition: Outline the proposed solution or key value proposition.
• Market Analysis: Summarize findings about the market, customer needs, or competition.
• Key Features and Benefits: Highlight the main features or benefits of the proposed solution or strategy.
• Financial Summary: Provide a snapshot of financial aspects, such as cost, revenue projections, or return on investment (ROI).
• Next Steps: Briefly describe the next steps or strategy for implementation.

Simple Executive Summary Example

The following simple executive summary presents a concise statement of key findings and links them directly to a strategic recommendation. It provides a clear snapshot of the situation and the proposed action, which is essential for an executive summary.

Problem Statement

Many small businesses struggle with inefficient inventory management, leading to lost sales and increased operational costs.

Key Proposition

Our company proposes an AI-driven inventory management system that automates tracking and forecasting, tailored for small businesses.

Market Analysis

Research shows a 40 percent increase in demand for automated inventory solutions in the small business sector, with a significant gap in affordable, user-friendly options.

Key Features and Benefits

The system offers real-time inventory tracking, predictive restocking alerts, and an intuitive interface, reducing inventory errors by an estimated 50 percent.

Financial Summary

Our projected development cost is five hundred thousand dollars with a break-even point in 18 months. The expected ROI is 200 percent in three years, tapping into a market with a potential revenue of five million dollars annually.

Development will commence in Q1 2024, with a pilot launch in Q3. Full market release is scheduled for Q1 2025, followed by targeted marketing campaigns and customer feedback integration for further enhancements.

Executive Summary Template

Download a Blank Executive Summary Template for

Microsoft Word | Google Docs

Download an Example Executive Summary Template for

Available in blank and example versions, this executive summary template guides you in succinctly presenting key information about your business plan or project to stakeholders. Simply fill in each section with relevant details to create a concise overview that highlights problems, solutions, market potential, product features, financials, and next steps.

Business Plan Executive Summary Example

Review the following example for a business plan executive summary of an eco-friendly transportation company. This example provides a clear, brief overview that is essential when you want to engage stakeholders and set the stage for more detailed discussions.

In urban areas, the lack of convenient, eco-friendly transportation options leads to increased traffic congestion and pollution.

GreenGo Mobility Solutions proposes a network of e-bike sharing stations, offering an affordable, sustainable, and flexible transportation alternative.

There is a growing trend toward eco-friendly transport in cities, with a 60 percent increase in e-bike usage. Surveys show high interest among urban commuters for more accessible e-bike options.

Key Features and Benefits 

Our e-bikes are equipped with GPS tracking and easy-to-use interfaces. The bikes are designed for urban environments, offering a convenient and environmentally friendly commuting option.

The project requires an initial investment of two million dollars, with projected annual revenue of five million dollars by the third year. We anticipate a break-even point within two years, based on subscription and pay-per-use models.

Marketing Plan Executive Summary Example

In the following example, an executive summary outlines a marketing initiative within a company, detailing both the challenge and the strategic response. It provides a clear overview of the marketing plan’s objectives, actions, and expected outcomes.

We have seen a decline in new user adoption of our company's flagship software product over the past year.

Initiate a Revitalize and Engage campaign, focusing on updating the product’s user interface and enhancing customer engagement through social media and community building.

Competitor analysis and customer feedback indicate a need for more intuitive design and stronger community presence to attract and retain users.

The campaign will introduce a sleek, user-friendly interface and a robust online community platform, aiming to increase user engagement and satisfaction.

The campaign requires a budget of five hundred thousand dollars, with an expected increase in user adoption rates by 20 percent within the first year post-implementation.

Begin a UI redesign in Q2 2024, launch a social media engagement strategy in Q3, and roll out the updated product with community features in Q4.

Project Proposal Executive Summary Example

The example executive summary below demonstrates a well-structured project proposal that succinctly identifies a specific challenge and proposes an actionable solution. It provides a comprehensive snapshot of the project, including its rationale, expected benefits, financial implications, and implementation timeline.

Our current customer relationship management (CRM) system is outdated, leading to inefficiencies in sales tracking and client management.

We propose the development and implementation of a new, custom-built CRM system to streamline sales processes and enhance customer engagement.

Internal analysis indicates a 35 percent increase in process efficiency with a modern CRM system, while competitor benchmarking shows significant advantages in customer retention.

The new CRM will offer real-time sales tracking, automated client communication tools, and advanced analytics features, improving sales efficiency and customer satisfaction.

The estimated project cost is two million dollars, with a projected increase in sales efficiency by 50 percent and customer retention by 20 percent within two years.

Initiate the project in Q2 2024, with phase-wise implementation and employee training, aiming for full deployment by the end of Q4 2024.

Startup Executive Summary Example

Startups need to communicate their vision to potential investors and key stakeholders. In this example, an executive summary helps convey the startup’s vision with a concise summary of the business opportunity, unique selling proposition, market potential, and action plan.

There is a growing demand for sustainable and eco-friendly home cleaning products, but the market lacks options that are both effective and affordable.

EcoClean Innovations is a startup offering a line of environmentally friendly, biodegradable cleaning products made from natural ingredients, catering to eco-conscious consumers.

Market trends show a 50 percent increase in consumer preference for green homecare products, with a significant gap in cost-effective options.

Our products are non-toxic and competitively priced, and they have a minimal environmental footprint, addressing the need for effective and sustainable cleaning solutions.

We require an initial investment of one million dollars, projecting a 30 percent market penetration in the eco-friendly segment within the first two years.

Launch with an initial range of products by Q3 2024, followed by marketing campaigns targeting eco-conscious communities and online marketplaces.

Real Estate Development Executive Summary Example

In the following executive summary example for a construction project, the author outlines their vision for the Greenway Residential Complex. This summary captures the essence of the construction project proposal, presenting key information in a concise and structured format.

The growing urban population in Metro City has led to a shortage of affordable, eco-friendly housing options, resulting in increased living costs and environmental concerns. Key Proposition

Our project proposes the development of the Greenway Residential Complex, a sustainable and affordable housing solution. Utilizing innovative construction methods and eco-friendly materials, the complex aims to provide a balanced urban living experience that is both cost-effective and environmentally responsible.

Research indicates a high demand for eco-conscious housing in Metro City, with a market gap in affordable segments. Surveys show that young families and professionals are actively seeking sustainable living options that align with their environmental values and budget constraints.

• Sustainable design incorporating solar panels, rainwater harvesting, and green spaces
• Affordable pricing, targeting middle-income families and young professionals
• Proximity to public transportation and city centers, reducing commute times and the carbon footprint
• High-quality, energy-efficient building materials, ensuring lower utility costs and a smaller environmental impact
• Estimated project cost: Fifty million dollars
• Anticipated revenue from sales: Seventy million dollars, with a projected ROI of 40 percent over five years
• Funding secured from green building grants and private investors
• Finalize construction permits and approvals by Q2 2024.
• Begin construction in Q3 2024, with a projected completion date in Q4 2026.
• Launch a marketing campaign targeting eco-conscious families and professionals. Tip:  In this example, notice how helpful it is to use bullet points to convey certain information. Using bulleted lists is a great way to organize and present information in an executive summary.

Construction Project Executive Summary Example

Construction projects have many moving parts, which means executive summaries need to capture a lot of information in a small space. Consider a construction-specific executive summary template to ensure that stakeholders are keyed into the most vital project information.

Download a Blank Construction Project Executive Summary Template for

Microsoft Word |  Adobe PDF | Google Docs

Download an Example Construction Project Executive Summary Template for

Microsoft Word | Adobe PDF | Google Docs

This construction project executive summary template allows users to give a high-level overview of the key aspects of a project, such as status, risks, issues, and changes. Available in both blank and sample versions, this editable template condenses complex project information into an easily digestible format. To use it, simply fill in each section with relevant, concise information about the current state and progress of your construction project, ensuring it remains updated and reflective of any changes or developments.

Renewable Energy Initiative Executive Summary Example

A renewable energy initiative executive summary should highlight the project’s objectives, strategies, and potential impact, as well as its contribution to environmental sustainability. In the following example, the summary articulates the project’s vision and its alignment with global environmental goals.

The urgent need to address environmental challenges and the increasing global demand for energy underscore the importance of transitioning to renewable energy sources. The reliance on traditional fossil fuels is unsustainable and contributes significantly to climate change.

The SunWind Project is a pioneering initiative combining solar and wind power to create a robust and sustainable energy solution. This project aims to leverage the strengths of both solar and wind energy, ensuring a continuous and reliable power supply while significantly reducing carbon emissions.

The renewable energy sector is experiencing rapid growth, fueled by global environmental policies and a rising consumer preference for sustainable energy. This shift presents an opportunity for the SunWind Project.

The project is unique in its integration of solar panels and wind turbines, ensuring consistent energy production under varying weather conditions. This scalable approach is designed to adapt to increasing energy demands. By significantly reducing the carbon footprint, the project supports global environmental sustainability goals and has the potential to power thousands of homes and businesses.

The SunWind Project has an estimated cost of two hundred million dollars, with projected revenues from energy sales anticipated to be around three hundred million dollars over the next 10 years. This represents a potential ROI of 50 percent. The project is poised to benefit from green energy grants, government subsidies, and private investments.

Immediate steps include securing the necessary environmental permits and clearances. The construction phase, slated to begin in the second quarter of 2024, will focus on installing solar panels and wind turbines, with a goal to commence energy production by the end of 2025.

One-Paragraph Healthcare Executive Summary Example

An executive summary of a healthcare initiative needs to do the following: concisely identify a pressing healthcare issue, present a tailored solution with its benefits, summarize market needs and competition, and outline the financial viability and next steps. 

In the following example, notice how an executive summary can capture all key elements in a single paragraph:

The HealthFirst Community Wellness Initiative addresses the critical problem of rising chronic illness rates in urban areas, focusing on diabetes and heart disease. Our comprehensive solution involves launching community health centers that provide preventive care, lifestyle education, and regular health screenings, as well as cater to the specific needs of urban populations. Market analysis indicates a significant demand for accessible healthcare services in these areas, with a lack of preventive and educational resources being a key gap. The initiative’s main features include state-of-the-art diagnostic tools, personalized health plans, and collaboration with local fitness and nutrition experts, offering benefits such as improved community health outcomes and reduced healthcare costs. Financially, the project is expected to be sustainable, with a mix of funding from public health grants and private partnerships. We are projecting a positive ROI within three years due to reduced hospital admissions. The next steps involve securing funding, establishing partnerships with local health professionals and organizations, and launching a pilot center in the downtown district, with a plan to expand to five more urban areas within two years.

Nonprofit Executive Summary Example

An executive summary for a nonprofit organization should communicate the essence of a project or initiative to donors and volunteers. It should concisely outline the organization’s mission, goals, and key solutions while also detailing strategies, actions, and their impact.

  This  executive summary example from Doctors Without Borders emphasizes the inadequacy of current Universal Health Coverage (UHC) agendas in meeting the needs of vulnerable populations. It then proposes six key recommendations to address these shortcomings. 

This executive summary succinctly identifies the core issue — inequitable access to healthcare — and clearly outlines actionable recommendations. This document helps facilitate advocacy and policy change, which are central to this organization’s goals.

Research Report Executive Summary Example

An executive summary in a research report concisely presents the key findings, conclusions, and recommendations derived from a research project. It covers elements such as the project topic, background, research methods, and critical insights, tailored for quick understanding and decision-making.

In this real-world  exampl e from the ASPCA , the executive summary details a study showing that veterinary hospitals’ proactive discussions about pet health insurance positively impacted hospital revenue and increased patient visits. 

Notice how this summary concisely outlines the study’s purpose, methodology, and significant findings, providing a clear overview for readers. In addition, it highlights the study’s relevance and implications for veterinary practices, emphasizing the practical benefits of educating clients about pet health insurance.

Research Report Executive Summary Template

Download a Blank Research Report Executive Summary Template for

Microsoft Word |  Adobe PDF | Google Docs Download an Example Research Report Executive Summary Template for

To create your own research report executive summary, download this customizable template. Available in blank and example versions and three printable formats, this template serves as a structured guide to organize and present the key components of a research report. Simply fill in each section with specific details about your research, including the project topic, background information, methods used, conclusions, and recommendations.

Research Project Proposal Executive Summary Example

An executive summary for a research project focuses mainly on the research question, methods, and expected outcomes. These summaries often point out how important the research could be and what impact it might have on the field.  

Download a Blank Research Project Proposal Executive Summary Template for Microsoft Word | Google Docs  

Download an Example Research Project Proposal Executive Template for Microsoft Word | Google Docs

Teams can use this one-page executive summary — available in a blank or sample version — to concisely present the key elements of a research project to stakeholders, potential funders, or academic committees. By structuring the summary with specific sections such as background, objectives, and methodology, you can be sure that you’ve clearly and briefly outlined all critical aspects of your research.

Executive Summary Slide Example

Executive summaries are often documents that one distributes to executives, potential investors, and other stakeholders. However, slideshow presentations can facilitate a more interactive discussion. Plus, the inclusion of charts, graphs, and other images can better illustrate key points.  

Download an Example Single Slide Executive Summary Template for

PowerPoint | Google Slides

Download a Blank Single Slide Executive Summary Template for

This executive summary slide template is a versatile tool for succinctly conveying key project information in a single, visually engaging slide. You can enter your project information in the blank template or download the sample version for additional guidance. Input relevant details in each section, such as an overview of your project and next steps. The template allows users to insert their own text, graphics, and data. Copy your completed slide into a longer presentation, or use it on its own as a visual complement to any stakeholder presentation.

How to Improve Your Executive Summary

A poorly constructed executive summary can serve as an instructive example of what to avoid. Ineffective executive summaries might be too detailed or technical, lack focus on key points, or omit a clear call to action. 

Here are examples of the three most common mistakes found in executive summaries:

Includes Too Many Details or Technical Information

This example demonstrates one of the most common mistakes, which is including too much detail or overly technical language. It dives deeply into the specific technical specifications of the equipment and financial metrics, which might be overwhelming for readers. A more effective executive summary would focus on the broader objectives, expected impacts, and benefits of the project in a language that is accessible to a non-technical audience.

Lacks Focus on Key Points  

Sometimes, summaries fail to clearly highlight the most critical aspects of the project or proposal. This summary lacks focus concerning the key points of the Pathways to Knowledge project. A more effective summary would concisely state the project’s goal, significance, and anticipated outcomes.

Omits a Clear Call to Action or Conclusion  

Failing to include a clear conclusion or call to action is another common mistake. The summary should not only inform but also persuade and guide the reader toward the desired action or decision. This summary outlines the project’s goals and structure, but omits a clear call to action. The document doesn’t specify what is expected from the reader or potential stakeholders, such as support, partnership, funding, or involvement in the project.

Corrected Example

To create a more effective example, start by removing overly technical details. (Stakeholders don’t need to know the specific standards with which the training modules are aligned or which types of processors power your computers.) Next, take out unnecessary details that stray from the main point of the project. An executive summary is not the place to discuss the origins of the project idea or the elements your team has not yet decided on. Finally, always conclude your executive summary with a clear call to action.

The Pathways to Knowledge project is a pioneering educational initiative by a nonprofit organization, aimed at bridging the educational divide in underprivileged and remote communities. This project involves the deployment of Mobile Education Hubs: state-of-the-art, solar-powered mobile units that are equipped with educational resources, technology, and internet access. These hubs are designed to travel to various underserved areas, providing children and adults with access to quality educational materials, online learning platforms, and virtual tutoring. Each hub also hosts workshops and seminars led by educators and experts, covering a wide range of subjects from basic literacy and numeracy to vocational training and digital literacy. The initiative seeks to empower communities by enhancing educational opportunities, fostering a culture of lifelong learning, and equipping individuals with the skills necessary for the 21st-century job market. By focusing on accessibility and adaptability, the Pathways to Knowledge project aspires to create a ripple effect of educational advancement and social upliftment across diverse communities.

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• Writing a Business Plan

Writing a business plan may seem a daunting task as there are so many moving parts and concepts to address. Take it one step at a time and be sure to schedule regular review (quarterly, semi-annually, or annually) of your plan to be sure you on are track to meet your goals.

Why Write a Business Plan?

Making a business plan creates the foundation for your business. It provides an easy-to-understand framework and allows you to navigate the unexpected.

Quick Takeaways

• A good business plan not only creates a road map for your business, but helps you work through your goals and get them on paper
• Business plans come in many formats and contain many sections, but even the most basic should include a mission and vision statement, marketing plans, and a proposed management structure
• Business plans can help you get investors and new business partners

Source: Write Your Business Plan: United States Small Business Association

Writing a business plan is imperative to getting your business of the ground. While every plan is different – and most likely depends on the type and size of your business – there are some basic elements you don’t want to ignore.

Latest on this topic

NAR Library & Archives has already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles ( E ) are available only to NAR members and require the member's nar.realtor login.

Defining Your Mis​sion & Vision

Writing a business plan begins by defining your business’s mission and vision statement. Though creating such a statement may seem like fluff, it is an important exercise. The mission and vision statement sets the foundation upon which to launch your business. It is difficult to move forward successfully without first defining your business and the ideals under which your business operates. A company description should be included as a part of the mission and vision statement. Some questions you should ask yourself include: 

• What type of real estate do you sell?
• Where is your business located?
• Who founded your business?
• What sets your business apart from your competitors?

What is a Vision Statement ( Business News Daily , Jan. 16, 2024)

How to Write a Mission Statement ( The Balance , Jan. 2, 2020)

How to Write a Mission Statement ( Janel M. Radtke , 1998)

Using a SWOT Analysis to Structure Your Business Plan

Once you’ve created a mission and vision statement, the next step is to develop a SWOT analysis. SWOT stands for “Strengths, Weaknesses, Opportunities, and Threats.” It is difficult to set goals for your business without first enumerating your business’s strengths and weaknesses, and the strengths and weaknesses of your competitors. Evaluate by using the following questions:

• Do you offer superior customer service as compared with your competitors?
• Do you specialize in a niche market? What experiences do you have that set you apart from your competitors?
• What are your competitors’ strengths?
• Where do you see the market already saturated, and where are there opportunities for expansion and growth?

Strength, Weakness, Opportunity, and Threat (SWOT) ( Investopedia , Oct. 30, 2023)

How to Conduct a SWOT Analysis for Your Small Business ( SCORE , Apr. 28, 2022)

SWOT Analysis Toolbox ( University of Washington )

Setting ​Business Goals

Next, translate your mission and vision into tangible goals. For instance, if your mission statement is to make every client feel like your most important client, think about the following:

• How specifically will you implement this?
• Do you want to grow your business?
• Is this growth measured by gross revenue, profit, personnel, or physical office space?
• How much growth do you aim for annually?
• What specific targets will you strive to hit annually in the next few years?

Setting Business Goals & Objectives: 4 Considerations ( Harvard Business School , Oct. 31, 2023)

What are Business Goals? Definition, How To Set Business Goals and Examples ( Indeed , Jul. 31, 2023)

Establishing a Format

Most businesses either follow a traditional business plan format or a lean startup plan.

Traditional Business Plan

A traditional business plan is detailed and comprehensive. Writing this business plan takes more time. A traditional business plan typically contains the following elements:

• Executive Summary
• Company description
• Market analysis
• Organization and management
• Service or product line
• Marketing and sales
• Funding request
• Financial projections

Lean Startup Plan

A lean startup plan requires high-level focus but is easier to write, with an emphasis on key elements. A lean startup plan typically contains the following elements:

• Key partnerships
• Key activities
• Key resources
• Value proposition
• Customer relationships
• Customer segments
• Cost structure
• Revenue stream

Creating a Marketing Plan

You may wish to create a marketing plan as either a section of your business plan or as an addendum. The Marketing Mix concerns product , price , place and promotion .

• What is your product?
• How does your price distinguish you from your competitors—is it industry average, upper quartile, or lower quartile?
• How does your pricing strategy benefit your clients?
• How and where will you promote your services?
• What types of promotions will you advertise?
• Will you ask clients for referrals or use coupons?
• Which channels will you use to place your marketing message?

Your Guide to Creating a Small Business Marketing Plan ( Business.com , Feb. 2, 2024)

10 Questions You Need to Answer to Create a Powerful Marketing Plan ( The Balance , Jan. 16, 2020)

Developing a Marketing Plan ( Federal Deposit Insurance Corporation )

Forming a Team

Ensuring the cooperation of all colleagues, supervisors, and supervisees involved in your plan is another important element to consider. Some questions to consider are:

• Is your business plan’s success contingent upon the cooperation of your colleagues?
• If so, what specifically do you need them to do?
• How will you evaluate their participation?
• Are they on-board with the role you have assigned them?
• How will you get “buy in” from these individuals?

How to Build a Real Estate Team + 7 Critical Mistakes to Avoid ( The Close , May 17, 2023)

Don’t Start a Real Estate Team Without Asking Yourself These 8 Questions ( Homelight , Jan. 21, 2020)

Implementing a Business Plan and Reviewing Regularly

Implementation and follow-up are frequently overlooked aspects to the business plan, yet vital to the success of the plan. Set dates (annually, semi-annually, quarterly, or monthly) to review your business plans goals. Consider the following while reviewing:

• Are you on track?
• Are the goals reasonable to achieve, impossible, or too easy?
• How do you measure success—is it by revenue, profit, or number of transactions?

And lastly, think about overall goals.

• How do you plan to implement your business plan’s goals?
• When will you review and refine your business plan goals?
• What process will you use to review your goals?
• What types of quantitative and qualitative data will you collect and use to measure your success?

These items are only a few sections of a business plan. Depending on your business, you may want to include additional sections in your plan such as a:

• Cover letter stating the reasoning behind developing a business plan
• Non-disclosure statement
• Table of contents

How To Write a Business Proposal Letter (With Examples) ( Indeed , Jul. 18, 2023)

How To Implement Your Business Plan Objectives ( The Balance , Aug. 19, 2022)

The Bottom Line

Creating a business plan may seem daunting, but by understanding your business and market fully, you can create a plan that generates success (however you choose to define it).

Real Estate Business Plans – Samples, Instructional Guides, and Templates

9 Steps to Writing a Real Estate Business Plan + Templates ( The Close , Apr. 3, 2024)

How to Write a Real Estate Business Plan (+Free Template) ( Fit Small Business , Jun. 30, 2023)

The Ultimate Guide to Creating a Real Estate Business Plan + Free Template ( Placester )

Write Your Business Plan ( U.S. Small Business Administration )

General Business Plans – Samples, Instructional Guides, and Templates

Business Plan Template for a Startup Business ( SCORE , Apr. 23, 2024)

Guide to Creating a Business Plan with Template (Business News Daily, Mar. 28, 2024)

Nine Lessons These Entrepreneurs Wish They Knew Before Writing Their First Business Plans ( Forbes , Jul. 25, 2021)

How to Write a Business Plan 101 ( Entrepreneur , Feb. 22, 2021)

Books, eBooks & Other Resources

Ebooks & other resources.

The following eBooks and digital audiobooks are available to NAR members:

The Straightforward Business Plan (eBook)

Business Plan Checklist (eBook)

The SWOT Analysis (eBook)

The Business Plan Workbook (eBook)

Start-Up! A Beginner's Guide to Planning a 21st Century Business (eBook)

Complete Book of Business Plans (eBook)

How to Write a Business Plan (eBook)

The Easy Step by Step Guide to Writing a Business Plan and Making it Work (eBook)

Business Planning: 25 Keys to a Sound Business Plan (Audiobook)

Your First Business Plan, 5 th Edition (eBook)

Anatomy of a Business Plan (eBook)

Writing a Business Plan and Making it Work (Audiobook)

The Social Network Business Plan (eBook)

Books, Videos, Research Reports & More

As a member benefit, the following resources and more are available for loan through the NAR Library. Items will be mailed directly to you or made available for pickup at the REALTOR® Building in Chicago.

Writing an Effective Business Plan (Deloitte and Touche, 1999) HD 1375 D37w

Have an idea for a real estate topic? Send us your suggestions .

The inclusion of links on this page does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked in this page complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.

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• Republic of Adygea

Maikop is the capital of the small and pastoral Republic of Adygea which is entirely located within the Krasnodar Territory and therefore easy to visit from Krasnodar . It is a very pleasant city with an impressive central mosque. There are also some beautiful natural sites on the outskirts of the city.

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THE 15 BEST Things to Do in Maykop

Things to do in maykop.

• 5.0 of 5 bubbles
• 4.0 of 5 bubbles & up
• Good for a Rainy Day
• Good for Kids
• Good for Big Groups
• Adventurous
• Budget-friendly
• Hidden Gems
• Good for Couples
• Honeymoon spot
• Good for Adrenaline Seekers
• Things to do ranked using Tripadvisor data including reviews, ratings, number of page views, and user location.

1. Maykop Cathedral Mosque

2. State Museum of Oriental Art

3. Zolotaya Kladovaya Asi Yeutykh

4. Maykop Park

5. Adygea Republican Museum of Local Lore

6. Beer Factory

7. Monument to Saint Nicholas

8. Chamber Musical Theater

9. Memorial to the Soldiers of the 131st Maykop Separate Motorized Rifle Troop

10. Konopli Museum

11. Pushkin State Drama Theater

12. adygea art gallery, 13. observation deck.

14. Adygea Gory Udovolstviy

15. The Building of the Railway Station Maikop

16. Monument The Unity and Concord

17. Adygea Republican Sports and Health Complex

18. sculptural composition "shoe"..

19. Church of Saint George

20. Obelisk Forever With Russia

21. konopli museum.

22. Friendship Square

23. Holy Trinity Cathedral

24. Lenin Square

25. Ananas Entertainment Center

26. Surb Harutyun Church

27. Philharmonic Building

28. Monument to V. I. Lenin

29. Monument to A. S. Pushkin

30. Monument to M. S. Shovgenov

What travellers are saying.

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