by Terri Woods Realtor, Broker, Real Estate Mentor/Coach
Since December, my inbox has been overloaded with 'goal' emails from the best trainers, coaches, and motivational speakers on the planet. Great information! Free goal templates! On Demand webinars! Easy step formulas!
3 Steps to a Powerful 2017
6 Principles to Successful Real Estate Goal Setting
7 S.M.A.R.T. Goals for Real Estate Agents
Before I go any further, I want to state that I am a BIG fan of goals. I personally set goals each year. I have my list of things I intend to accomplish in 2017, along with steps and timelines to make things happen. I actually timeblock time to review goals each year.
So... with that disclaimer... I can tell you that before we had the Internet, before we had so much information on the brain and personalities, before we had stats on everything, before we had business plans... we had needs and wants.
When my car starting having car problems, I would look at a new car, find out how many homes I needed to sell, went out and sold that many homes and paid cash for the car. I knew that in order to pay my monthly food/utility/mortgage bills, I needed to sell X many houses. I would make sure I sold those many houses and I paid my bills. If I wanted to take a trip, I would figure the cost, go out and work hard until I made the money, and pay for the trip in cash. This was just common sense to me.
As any experienced agent will tell you, there is a residual effect from 'working' (yes, we call it Lead Generation now, but before that...it was just 'work'). When working for my 'needs,' I found my 'wants' were taken care of most of the time.
This is the point I am making. Sometimes, with so much knowledge, we make things more difficult. Sometimes, we just need a number...a target goal to focus on, so we know what we are aiming for.
For any new agent in the business, for the moment, I encourage you to keep your goal simple.
1. How much money do you need to make. Make sure you pad that amount for taxes, expenses, splits, etc. (Example: $100,000)
2. What is the average commission on an average house in your area? (Example: $300,000 Sales Price x 2.5% One side of the commission = $7500)
3. Do the math. (Example: 100000/7500 = 13.333)
The goal is 13.333 houses per year.
As an agent, you have 20 working days a month (because we all want lives outside of real estate, right?) @ 6 hours a day = 120 hours a month to find 1-2 ready...willing....and able Buyers or Sellers who WILL buy or sell in the next 30 days. AND anyone can do that if it is what they focus on.
This simple goal keeps the brain focused on what is most important. It clears the clutter from information overload.
Yes, there will be a time to do the budget planning, and growth for your business...however, until then...you might try and keep it simple. Just a thought.
Have a wonderful 2017!
P.S. I hope my math is right. :)
Keller Williams Realty Santa Cruz