A new year, a clean slate. Chances are you have some lofty real estate goals for the year ahead as you seize the opportunity to enjoy a little downtime over the Christmas break.
But how do you make goals a reality rather than an idle wish list?
Here are five ways to ensure you achieve your goals in 2023…
Work backwards
Real estate’s not rocket science. It’s a career where results can be reverse engineered.
Whether you’re aim is to improve on this year’s results or reach a certain milestone, reverse engineering
is all about having an end goal and then simplifying it back to a single KPI – appraisals per month.
So how does it work? Well, if you want to write $500,000 GCI, based on an average sales commission of
$15,000 per sale, you need to sell 33 properties.
To sell 33 properties, you might have to list 35 properties because sometimes life happens and sales fall
through.
To list a property, you might need to conduct five appraisals.
Therefore, in order to sell 33 properties per year, you need to conduct 175 appraisals, or about 15 each
month.
Now you know the number of appraisals you need to conduct, you can use the same reverse
engineering method to determine how many calls and contacts you need to make for the year, for
the month, for each week and every day.
Break it down
Once you know the number of appraisals you need to conduct each year and the contacts you need to
make to achieve that KPI, you can begin breaking down your daily and weekly activities.
You can then set specific times to make the number of phone calls required, market your services,
network, conduct appraisals and more.
Set times mean the task is non-negotiable. It also means you don’t have to think about what to do next.
Instead, your day and week is mapped out so you can focus on the core real estate activities that will
help you achieve your goal.
Measure to manage
While you might start the year with a set goal in mind, you will need to measure your progress regularly
so you can adapt and alter your activities when required.
For example, perhaps you might find it’s taking more than five appraisals to secure a listing. If that’s the
case, maybe you need to adapt by reworking your listing presentation.
Hold yourself accountable
There are lots of different ways to hold yourself accountable and different strategies work for different
people.
For some, an accountability buddy is ideal. For others, it’s a simple list of activities each and every day
that get ticked off.
For others still, accountability involves getting crystal clear on the reason you want real estate success. Is
it for the financial security of your family? For the lifestyle this career can offer? Or maybe it’s because
you’re proving a point to yourself.
Knowing the ‘why’ and keeping it front of mind helps you stay on track and committed to achieving your
goals.
It’s the thing that will help you pick up the phone when you don’t feel like it or network in your
community when socialising at the end of the day is the last thing you feel like doing.
Always be learning
While the process of real estate is simple, what worked for you a decade ago or even last year may no
longer reap the results that will get you where you want to go.
That’s why it’s important to ‘always be learning”.
When you continue to train, sharpen the saw, seek insight from others and embrace an education
mindset, you open yourself to new opportunities, new methods and strategies, many of which could
very well help you achieve your goals.
For all enquiries and more information on how the Agents’Agency can help you take your career to the next level, please visit agentsagency.com.au or email [email protected]
