From Red to Black: A Profit Playbook

Good morning Real Estate Rockstar! Steve here, still buzzing from yesterday’s Super Bowl? Congratulations Eagles Fans!

Now that we’ve had our fill of football (and maybe a few too many chicken wings), it’s time to refocus on your business playbook.

This week, we’re tackling profit and loss (P&L) statements, exploring how virtual assistants can lighten your workload, and conquering procrastination once and for all. We’ll also keep The ONE Thing momentum rolling—because if you’re going to grow, you need a crystal-clear priority that fuels everything else.

Ready to turn that Monday motivation into a strong financial offense? Let’s huddle up and dive in!

— Steve

ACCOUNTANT ANGLE

Reading & Understanding P&L Statements

A profit and loss (P&L) statement is your financial scoreboard—it shows your total income minus expenses over a specific period, giving you a quick snapshot of whether you’re winning or losing.

Here’s how to use it effectively: first, compare periods (e.g., January vs. December) to see if you’re heading in the right direction.

Next, break down income sources to pinpoint your most profitable activities—are rental property referrals crushing it, or is that new buyer representation your cash cow?

Finally, look at major expense categories. If marketing or operational costs are high, ask yourself: Is it generating a solid return, or is it time to pivot?

A well-read P&L keeps you agile and helps you capitalize on golden opportunities—before your competition does.

BUSINESS BOOSTER

Leveraging Virtual Assistants

Imagine having a capable sidekick who can handle the grunt work while you focus on closing deals.

That’s what a virtual assistant (VA) brings to your real estate business. From updating your CRM with new leads to managing your social media posts, a VA frees up hours you’d otherwise spend glued to your laptop. Plus, it’s cost-effective—most VAs charge an hourly or project-based rate, so you’re not saddled with traditional employee overhead.

The key is to set clear expectations. Draft a list of tasks you’d happily pass off (like booking showings, data entry, or responding to routine emails). Then, establish check-ins to review progress and tackle questions.

By delegating these tasks, you can double down on the money-making activities that actually grow your business—and keep your sanity intact.

COACHES CORNER

Overcoming Procrastination

We’ve all been there—staring at a daunting to-do list, swiping through social media instead of making calls. Procrastination can cost you listings, clients, and precious time.

The good news? Small shifts can make a huge difference.

First, chunk down big tasks into bite-sized steps, so your brain sees them as manageable instead of monumental.

Second, set a timer for 15 minutes and promise yourself you’ll work steadily until it’s up. Often, once you get started, momentum keeps you going.

Third, reward yourself—maybe a quick coffee break or a walk around the block—after crossing off a task. Little incentives can work wonders.

If you make these small changes, you’ll spot fewer “I’ll do it tomorrow” moments and see more progress by day’s end.

BOOK OF THE MONTH

“The ONE Thing” by Gary Keller and Jay Papasan

Continuing our journey with The ONE Thing by Gary Keller and Jay Papasan, let’s talk about daily application.

Each morning, identify the single task that, if completed, makes everything else easier. If you’re a listing-focused agent, that might be contacting potential FSBOs. If you’re heavy into buyer representation, it could be reaching out to 10 new leads or nurturing existing ones.

The point is to silence the noise of lesser tasks and zero in on your top priority first.

Mornings are golden for knocking this out—clients haven’t bombarded you with calls yet, and you’re (hopefully) fresh from a good night’s sleep. Break it down into a micro-goal for each day, and watch how quickly you build the momentum that keeps your deals—and your motivation—flowing.

Go ahead and click the image to order the book from Amazon if you haven’t already.

NEWS YOU CAN USE

“Commissions rebound following post-settlement decline” — Real Estate News (Feb 5, 2025)

“90% of Markets Saw Home Price Gains in Fourth Quarter” — National Association of Realtors (Feb 6, 2025)

“Mortgage Rates Drop to 6.89% After Trump’s Quick Reversal on Major New Tariffs” — Realtor.com (Feb 6, 2025)

TO-DO LIST

Your Next Move — Turn Insights into Action

✅ Review Last Month’s P&L. Spot any income trends or expense red flags you need to address immediately.

✅ List Tasks to Delegate. Identify 3–5 non-negotiable tasks you’d pass on to a virtual assistant.

✅ Beat Procrastination. Chunk one big task into smaller steps and time-block it for 15 minutes.

✅ Apply The ONE Thing. Determine your #1 task every morning; tackle it before getting lost in emails.

✅ Stay Informed. Check out the articles above to stay current on commission trends, housing markets, and mortgage rates.