Mastermind Financial Planning & Smart Budgeting | Chicago Association of REALTORS®

Your business and personal budgets may be causing you extra stress right now. Here are some tips from our YPN Mastermind Series of how you can effectively tackle your budget problems and worries. 

Set your client’s expectations

Lenders are extremely backlogged during these shelter in place orders. The end result: deals are taking longer to close than they normally would. Rest assured, your business can still function now as it could before the shelter in place orders. It may just take extra precautions and research on your end to help everything run smoothly. That starts with setting realistic timelines and expectations with your clients.

Reduce spending & re-focus on target markets

If you’re strapped for funding right now, reducing your mailings is a good place to start saving money. You don’t need to cut off all your marketing and spending altogether, but take this opportunity to reevaluate your spending and create a lean budget.

Spend face(time) with your clients

Referrals go a long way in growing your business. People are feeling particularly isolated right now and are craving social engagement. A simple act of reaching out and being a neighbor to your clients can go a long way to helping your business thrive down the road. Try chatting with your clients over video chat, or surprise them with a small gift to let them know you’re thinking about them.

Think about your future pipeline

The best thing you can do today is plan ahead for tomorrow. Now is a good time to lay the groundwork to continue business as usual when our shelter in place orders are lifted.