Goal Overload? Try keeping it simple-especially if you are a new agent

By
Real Estate Broker/Owner with Benton, Linn and Douglas Counties Call Terri today!

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. :)

 

Terri

 

 

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Terri Woods

terriwoods@kw.com

831-531-8501

Connect with me on: Twitter  Facebook  LinkedIn  Google+

Keller Williams Realty Santa Cruz

BRE 01917591

 

 

 

 

 

 

 

 

Comments (10)

MichelleCherie Carr Crowe Just Call...408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

Then you need to know how many people you need to speak with, appts. to make and your own conversion rate to make that happen.

Jan 12, 2017 10:30 PM
Terri Woods

Hi Michelle -


Thanks for your comment. And absolutely! Having the specific knowledge of how many 'contacts' etc. is crucial to growing your business.  Congrats on your Top 1%.  How many people do you need to speak with to hit your goals?

Jan 14, 2017 08:41 PM
Hella Mitschke Rothwell
(831) 626-4000 - Honolulu, HI
Hawaii & California Real Estate Broker

I hear you and want to agree with you. However, I've found that most people strive for that goal but not beyond. So what if you don't achieve it?

Jan 13, 2017 12:37 AM
Terri Woods

Hi Hella -


How fun to sell Hawaii real estate. 


In regards to your question, I have found that if an agent does not hit their 'need' goal, then they do not have what it takes to hit their 'growth' goal. Real estate is not a career for everyone and that is fine. 


Me, personally... I always hit my 'need' goal because I had to. It was not an option.  And my lead generation (a.k.a. work) always led to future business. 


Goals are so important and I am not suggesting to not have goals. Just like The One Thing book...keeping the goal simple might help keep agents focused. Every agent is different, thus all the different ways to goal set.  


Thanks again for your comment.

Jan 14, 2017 08:50 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Terri, you are so right, every day we get numerous emails on trying to help us attain our goals and a great year, and some of us already know how!   Hope 2017 is a great year for you.

Jan 13, 2017 05:05 AM
Terri Woods

Hi Joan -


Thanks for your comment. WOW. 2 million AR points. You have lots of wisdom to share. Is there a formula or system you use to hit your goals?


Terri

Jan 14, 2017 08:52 PM
Bruce Kunz
C21 Solid Gold Realty, Brick, NJ, 732-920-2100 - Howell, NJ
REALTOR®, Brick & Howell NJ Homes for Sale

Thanks for sharing, Terri Woods. Keeping focus and decluttering the brain are both certainly helpful things toward both making your goals and being able to pay your bills!

Hope you have a great year!
Bruce. 

Jan 13, 2017 06:52 PM
Terri Woods

Hi Bruce -


Thanks for your comment. I really have to laugh at myself because I think simple brains need simple goals. However, I have found that new agents are overwhelmed with so much that if I just keep the goals simple, it is like a weight lifted. Of course, there are scripts to learn, and what to do during their lead generation time, and time blocking... right?


I love real estate!  Thanks again. Terri

Jan 14, 2017 08:54 PM
Kimo Jarrett
WikiWiki Realty - Huntington Beach, CA
Pro Lifestyle Solutions

That's the goal and your business plan should have the marketing plan to achieve your goal. Great post.

Jan 13, 2017 07:56 PM
Terri Woods

Hi Kimo -


Thanks for your comment. And yes, I agree!  Once we have our goal, we have to figure out a way to achieve it.


What does your business and marketing plan look like?  


Terri

Jan 14, 2017 08:59 PM
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Very simply and clearly stated how to work towards your goal.

Many do not set goals out of fear they will not reach them.

Remember we are the ones who set our goals, so they should be achievable if we do the work. Sometimes we do not fully reach the goal, but the goal should have been high enough that it has improved our business.

Thanks for sharing.

Jan 14, 2017 06:04 AM
Terri Woods

Hi John -


Thank you for the comment. You are so right on all accounts. Fear keeps us from truly growing. If we MUST earn the money, (a.k.a. Our Big Why), and we still don't hit our goal because we aren't doing the work, then real estate is not the career, in my opinion.


And yes, as entrepreneurs, we get to set our own goals. I think that is why I love real estate so much. I can make as much or as little as I need/want. It is up to me. 


Thanks again.


Terri

Jan 14, 2017 09:08 PM
Kim Johnson
Signature Realty Inc. - Coral Springs, FL
Selling South Florida

Good afternoon Terri!! I just saw your post via Twitter and it hit home BIG TIME! I'm going to be changing offices soon and starting training tomorrow. This post is exactly how I'm feeling today!!!! 

Jan 15, 2017 09:39 AM
Terri Woods
Benton, Linn and Douglas Counties - Days Creek, OR
Selling Homes and Land in Oregon

Hi Kim -

Congrats on your decision to change. And thanks for the comments. I with you the best for 2017. Why did you decide to change?

Terri

Jan 15, 2017 01:36 PM
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Very smart advice.  We are inundated with all of the sales tactics from marketing companies and new agents can get sucked into spending $.  I know I did!  Keeping things simple and relying on your own clients, leads and referrals helps to reduce marketing dollars.  Great post! 

Jan 21, 2017 08:35 AM
Terri Woods
Benton, Linn and Douglas Counties - Days Creek, OR
Selling Homes and Land in Oregon

Hi Jan -

Thanks for the comment. Gary Keller reported that the ROI on Online Advertising is -32% (2015 stats). Crazy on how much money was spent in this area. 

I hope the market is doing great in Scottsdale. Thanks again.

Jan 22, 2017 04:07 PM

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