Do You get an 'A' For Achievement? Rating Your 2009 Performance

Veterans and Newbies alike understand that the job of a Realtor is unlike almost any other.  Instead of a salary, most of us are 100% commission.  Our reviews come not from a manager, for the most part, but from the general public and our most recent clients.  Our deadlines are synonymous with our deliverables.  Our hours may be set, but they are set by us, within the confines of our own personal lives and commitments. If we have a manager, they serve more as a coach than a typical Corporate America manager.  Unlike many other types of independent contractors, it is the very rare Realtor who can find a single client to hire them on a virtually full time basis. We are constantly accountable to multiple 'bosses.'

We all know the benefits of this set-up (after all, we each chose the profession), but I think the idea of each of us personally conducting an annual performance review is something that could improve our industry and our own productivity and accomplishments.

Since I need to begin collecting my 2009 financials for tax purposes, it always makes sense to me to do this type of review of myself and my performance now, while the past year is still fresh and the new one is just beginning.

 I think it is an excellent idea to revisit the basics, those things that we spent a lot of time thinking about back when we first got in to the business of helping clients buy and sell homes. Since most of us won't be sitting down for an annual  performance review, it is up to us to determine if we are performing to our best ability, if we are hitting our performance goals, doing our best work and generally representing ourselves as examples to the community of what an excellent Realtor can, and should, be.

I have given a little thought to some of the ways that I am going to handle my own 'performance reivew' of 2009:

1. Look Back at my Closed Transactions (and  Not Closed Transactions):What were the things I did that resulted in some of my smoothest transactions? Can these processes be repeated to result in more successes? If something didn't close, is there something I could have done differently?
2. Review of my business plan for 2009: Did I meet my personal and professional goals? If not, why not?Was the plan realistic? How could it be improved/modified for 2010?
3. Review of my education plan: Am I on track with my Continuing Education? Are there certifications that I want to earn this year?
4. Reading of the Code of Ethics and Standards of Practice from the National Association of Realtors: It is important to have a good working understanding of this document. It is our guide to conducting ourselves professionally and ethically.
5. Review of my company procedure manual: Understanding what your company expects and providing it in a timely and effective manner is part of professional conduct. Am I doing this? How can I improve?
6. Review of State changes to the laws governing the sale of real estate, Realtors and licensing: We are obligated to follow the laws whether we know about them or not. I don't want to risk violating a new law just because I did not take the time to review the new legislation.
7. Financial review of my practice: Did I spend my money wisely? Which investments provided the best return? Do I need to adjust my marketing costs? Reduce my office expenses?
8. A review of my Marketing. What worked this year and what didn't? Can I improve those things that worked and make them better? Did I spend my marketing dollars wisely? Are there opportunities that I should budget for now that will help me be successful later in the year?
9. A procedural review.  Were there areas of my practice that could use improvement? Were there processes that I struggled with when things got busy? Can I improve the process to make it simpler, or is this a good place to invest in some additional help or a new tool?
10. Establish my personal and professional goals for 2010: Every year is a new opportunity to grow and improve.  I believe setting goals keeps me from becoming complacent and stagnant.

These 10 items are all critical, in my mind, to a successful 2010 in Real Estate.  If I take each of these individually tasks individually, at their completion, I will have all of the information that I need to update my Business Plan for 2010.

Once completed, my business plan will serve  as a map for the next year and I will be well on my way to a prosperous and successful 2010.