Everyone says write down your goals.

Real Estate Agent with DeLex Realty

We have all heard it, write down your goals or they are just dreams. My question for many years was simply and then what? I wrote down goals all the time, posted them to walls, in my top desk drawer, on mirrors, said them like a yoga mantra only to not see them materialize, well, until I figured out you must build a road map to the goal. 

I use what I call a pyramid system. I start with my design at the top. What is my goal? When I first got into real estate, the goal was to make $5,000 per month. That is about what I needed to live fairly well. So that is what I teach my team, start with a dollar figure of what would make your life good. 

You place that number on top. The second row is a little larger as it represents the final work to make your goal. So in Real Estate in Arizona, $5,000 per month represents (1) average sale per month at 2% commission. So that is the final block of getting to the top of my pyramid, 1 transaction per month. Knowing that about 1 in 10 leads convert to sales, that is the next block. I know to reach my $5,000, I need to have 10 warm leads, to get 10 warm leans I know I will need to speak to approximately 100 prospects and to find 100 prospects I know that I will need to speak to about 5,000 cold calls which represents the bottom of my pyramid and the starting point to my goal. 

I now know that to reach my one sale per month, on average, I need 5,000 people per month to see my name and know I am in real estate, talk to 100 of those people, search for homes for 10 of those people and I will most likely close one. I also know, that if i continue on this path, the numbers of conversions will increase and contacts, prospects and leads will require less work but that is a story for another day. 

By having a simple road map to our goals, they become very simple to obtain and light the sometimes dark road to reaching them 

Posted by

James (Jim) Lord




Comments (14)

Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Jim- I used to do this with my staffing consultants. I would look at their numbers and that would give me an idea of how many calls, etc they needed to make to obtain their goal. 

Jul 09, 2020 05:17 PM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Good evening Jim,

It seems like when I write down my goals, they seem to be easier to complete. Thank you for sharing your blog and for the great advise.  

Best of luck to you and thank you again. 

Jul 09, 2020 09:58 PM
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

The method that works is the one that works for you and you'll work with consistently, great share today Jim!

Jul 10, 2020 04:56 AM
Kimo Jarrett
Cyber Properties - Huntington Beach, CA
Pro Lifestyle Solutions

Hopefully, there's a comprehensive business plan that precedes the income goal. 

Jul 11, 2020 02:21 PM
Anna Banana Kruchten Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ

Hi Jim hope you're staying cool this weeken. Just a tad hot here in PHX!!  Years ago I hung out with about 10 or so associate brokers.  Every December each one of us would decide the dollar amount of what we wanted to bring in the following year.  We'd then write out a check to ourself , put in a sealed envelope and one member would collect them  and hold on to them until the next December.  It didn't surprise me at all that most of us not only make our goal but exceeded it.  It works if we work!!

Jul 11, 2020 02:53 PM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Jul 11, 2020 06:51 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Knowing HOW to reach a goal is paramount to taking the right steps to get there. You've provided a way to figure that out.

Jul 12, 2020 05:30 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Jim Lord - that is absolutely correct.  If you don't write down the goals they are soon forgotten.

Jul 12, 2020 06:27 AM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Yes, I always think about taking a road trip in uncharted territory. How do you get there without a destination or a map? 

Jul 12, 2020 07:20 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Jim Lord,

I'm so glad that Kathy Streib featured your post in her "Ah-Ha" moments for the week! Great advice making your road map to figure out how to arrive at your desired destination!

Jul 12, 2020 10:38 AM
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Hi Jim Lord that makes perfect sense.... and I remember mentally doing the same system.... start with the end result that one wants to achieve.... what does it take to get there...

Jul 12, 2020 01:31 PM
Doug Dawes
Keller Williams Realty Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Hi Jim Lord your post makes much sense. The road to the goal must be defined and refined during the process of achievement

Jul 13, 2020 11:56 AM
John Juarez
The Medford Real Estate Team - Fremont, CA

Your goal structure is simple, straight forward and easy to understand...and measure against you monthly accomplishments.

Goals must be measurable.

Jul 13, 2020 05:33 PM
Jan Green - Scottsdale, AZ
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

That sounds like a good system!  Focusing on how to get to the main goal :)

Jul 14, 2020 08:31 AM