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Five Tips To Increase Your Production in 2011

By
Real Estate Broker/Owner with Eddie Brown ~ FM Realty a Long & Foster Company/ Raleigh NC

  

One lesson I've learned in helping brokers and real estate professionals in my career as a coach and manager is this: To have a better future, you have to learn from the past.

In short, history is a marvelous teacher.  "Those who cannot remember the past are condemned to repeat it."

 

And today, those words ring with just as much resonance as they ever have. And those in real estate who heed those words are taking the steps toward a better future.

2011 is upon us…it is time to start your business planning now for a prosperous year.

Why? Because unless you have been living under a rock, you likely made some mistakes in the last few years that probably left a good chunk of money on the table - mistakes you'll clearly want to avoid next year.

Here are my top five tips to make 2011 a truly Happy New Year:

1. Know your accounting.  Do you know exactly how much money you netted this year (not grossed), if not take time now to discover the number Then look to trim those expenses to net even more money next year!

Calculate the average sales price of the homes you sold in 2010. Set a goal to increase it for 2011. This is one sure way to be able to work the same and make more income…if your market has shifted to lower prices then you have to shift with it…which means to make more income you will have to close more transactions..set your plan accordingly!

2. Know your sources of business. Carefully examine your Book of Business and know where each transaction in 2010 came from. Where was your prospecting dollars best spent…more importantly... discover where you may be throwing money away.

3. Refine and Focus on your daily activities. Practicing Poor time management can kill any real estate business. Spending a minimum of 60 minutes a day working ON your business, not IN your business, will reap huge rewards…(Working IN your business means your daily activities - helping buyers and sellers or looking over your active listings. Working ON your business means you're planning and giving attention to what makes your business work ... developing your marketing calendar, reviewing your profit and loss statements and examining the direction of your business).

4. Get Help. I thing I often see in real estate agents is a strong independent streak. There is nothing wrong with being independent, but in real estate you need accountability. Was there someone helping you reach your goals in 2010? Get a group of advisors who can help you plan for 2011 and who can hold you accountable for your goals.

5. Get Balanced. Do you have a healthy balance between work and your personal life? Some real estate professionals put work before family. The result: divorce, distractions, and distress. People claim they can leave their personal problems at home, but they can't. They end up thinking about them, and it affects their work. Create a schedule and stick to it—and most importantly—keep hours of operations. Always schedule time for your family, friends, and yourself…..

I hope these five tips will help you to have a Very Happy 2011…now is the time to start planning, next year is only 1704 hours away!

Eddie Brown ©2011

www.ICU-Coaching.com

 

Comments (7)

Melissa Juarez
Massachusetts Buyers Broker Agency, LLC - Quincy, MA

Thanks Eddie for the great post and tips on how to increase production. Have a great Fall.

Oct 21, 2010 01:22 AM
James Lowenstern
Castles Unlimited® - Newton, MA
Castles Unlimited. Newton MA Real Estate

great advice...I will pass it along for sure.

Oct 21, 2010 01:23 AM
Margo Currie
Exit 1 Stop Realty - Saint Augustine Beach, FL

Thank you, Eddie, for great tips. I especially like the last one... take time for your family, your friends, and yourself.

Oct 21, 2010 01:26 AM
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

History is a great teacher, have 3 decades to draw from but technology, that was not here years ago needs to be in the toolbox with the "R". Hanging from the utility belt of the real estate agent, broker, REALTOR to survive, prosper, knock down way way more market share then others in it think you deserve or wished you had.

Oct 21, 2010 01:28 AM
Adam R. Cohn
STANDARD MORTGAGE CO. - Delray Beach, FL
We actually get mortgages closed FAST!

thank you great tips, have a great day and wish you many closed deals.

 

adam

Oct 21, 2010 01:30 AM
Barbara Michaluk
Weichert Realtors | Phone Direct 240-506-2434 | 301-681-0550 office - Silver Spring, MD
Leisure World Specialist / Full Service REALTOR

Thanks for the 5 tips.  I'll spend more time focusing on what is important in my business and personal life.

Oct 21, 2010 01:36 AM
Lorraine Sayer
Monument, Black Forest, Falcon, Fountain homes - Colorado Springs, CO
Realtor ABR,CDPE,GRI - Colorado Springs,CO RE/MAX

Eddie thanks for the organized list of things to do for next year.  I agree that now is the time to analyze last year's data, make changes, add new ideas, but most important to have a plan. 

Oct 21, 2010 02:49 AM