Most REALTORS® set new goals every year, which I encourage. However many of them have a hard time not only sticking to them, but they fall short of achieving them by the end of the year. Whether they get off track, or don’t really get started, putting a plan together on how you are going to get there is very important. Here are some other things to consider when setting your yearly goals.
1. Have a very clear and definite “why“ for completing your goal.
Remember your “why” or PURPOSE is the reason that you are setting the goal in the first place. It’s your reward for actually completing the goal. It’s not the goal itself. Make sure that your goal is very compelling to you. This will ensure that you strive and work hard to achieve it. I have found from my own personal achievements that being very clear on the outcome is more important than the promise to you to do it. The outcome is what drives you to do the daily fundamentals to reach your goal.
Having goals without a reason to achieve them is unlikely to keep your motivation up. You may start drifting from your targets and slowly losing your focus. Having that reason ahead of you each day keeps you on track to make sure you reach that yearly goal.
Some examples that Real Estate Agents have had in the past are…
• A paid in advance family vacation.
• The purchase of an investment property.
• Paying off past debts.
• Spending more time with the family without sacrificing income or reducing your weekly hours while increasing sales.
• A new car, or boat or some other “thing”.
Any of the above are great choices that I have heard in the past. Perhaps you have a few good ones of your own. Some Real Estate Professionals may even choose two or three things they strive for each year. It’s all up to you. But remember that you need to stay focused to reach these goals. Make sure you have a strong payoff for reaching your goal.
2. What percentage increase in sales should I shoot for this year?
A 26% increase is a good number to aim for when setting your yearly goals. If you do the math you will find your business will actually double in 3 years using this number. So for example, if your last year resulted in $60,000 in gross sales and we multiply it by 26% for 3 years we get the following result.
$60000 x 1.26 =$75600
$75600 x 1.26 = $95256
$95256 x 1.26 = $120022
As you can see, after the third year your business has completely doubled.
3. Use a dream board
Having a dream board setup is another great way to keep your motivation high and keep your focus strong. A dream board is simply a collection of pictures of things you want in life and cut out of magazines and books and pinned to a board. It’s what you expect your life to look like in the near future. A picture of your dream home and car. Maybe playing golf multiple times a week. Maybe going on a cruise etc. The board is put up in plain sight in your workplace or when you start your day.
4. Revisit your goals and make adjustments.
I have been guilty of this in the past, making a goal and not checking up on my progress. Goals need to be revisited often to make adjustments to confirm you are still on track. After you have set your goals you need to set a plan on how to achieve them. Regularly checking in to make sure you are on track to attain your goals is important. Quarterly checkups on yearly goals should be a minimum. Monthly and even weekly are recommended.
5. Have a plan on how you are going to achieve what you want.
Create daily fundamentals that you follow and this will push you forward each day to fulfilling your goals. Do you think a major league baseball player just sets a goal at the beginning of the season and it just magically happens? No, they are practicing every single day, they practice the fundamentals.
They do exactly the same thing in practice that they do in the game but over and over again. Getting into a routine of daily fundamentals that will push your business forward each and every day will get you to your goals and beyond!
If you do well at open houses, then maybe look on how to improve what you are already doing. Perhaps design a strategy that gets more people to visit your open house. Or maybe take a course or learn some new scripts on how to improve your one on one techniques, that push the client towards an appointment in your office.
These 5 ideas can greatly improve your business and keep you on track. Just remember that if you can do something each day to move your business forward, you will have a much better year than last year.
Don’t forget, no one can do your pushups for you, so get busy and take action!
Please leave a comment below and good luck with all your goals this year!