What are your real estate agent goals for the next year, the next 5 years and beyond?
How do you actually achieve and even surpass your real estate goals?
What do the highly successful Realtors® and Brokers do?
They don't just plan and take action on their goals. There's so much more that comes into play.
Read on for the 8 power goals agents take to achieve real estate business success.
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Real Estate Agent Goals – 8 Power Goals For Success
1. DEFINE YOUR WHYS – What are your whys? Why do you want to achieve these goals. Write down your motives.
2. BE SPECIFIC – Be specific with the exact metrics (what you want to achieve) and the deadlines for them. Set realistic goals.
3. BE COMMITTED – Commit in writing to yourself and better yet to someone else your goals you plan to achieve.
4. TRACK LEAD AND LAG MEASURES – Track lead measures and lag measures daily or weekly. “While a lag measure tells you if you’ve achieved the goal, a lead measure tells you if you are likely to achieve the goal.” Franklin Covey Organization
5. TAKE DAILY ACTION – Take regular (if possible) daily action steps toward your real estate goals.
6. BE RESILIENT – Develop strong resilience to meet the challenges that arise. If you fall, get back up and keep going. Resilience is what helped this real estate mogul achieve her real estate brokerage dreams.
7. EVALUATE REGULARLY – Evaluate your lead behaviors and make sure your action steps directly impact you achieving your real estate goals.
8. HAVE ACCOUNTABILITY – Have some form of accountability. Create a system in which you're accountable to yourself or with someone else regarding achieving your goals.
Study On Goal Achievement Success
Tracking Your Real Estate Goals
When creating your real estate goals and creating your plan of execution keep the Acronym SMART Goal in mind. It's a helpful goal tool.
SMART in Smart Goals stands for specific, measurable, achievable, relevant and time-bound.
Use this outline and the SMART acronym when creating your real estate goals and writing your smart goal statement.
Every Real Estate Agent should track and measure the numbers and action steps taken to achieve their goals.
I've measured and kept regular track of my goals for 30+ years now.
Now I maintain a scorecard in google docs daily.
7 Real Estate Goals Examples
1. Increase Annual Commissions
ESTABLISH AN ANNUAL COMMISSION SALES GOAL – Setting an annual real estate sales goal is essential for any real estate agent or broker looking to grow their business and achieve success.
To set a practical and achievable sales goal, follow these steps:
1. ASSESS YOUR CURRENT SITUATION – Assess your current situation. Review your past performance, including the number of transactions you completed, total sales volume, average sale price, and commission income. This gives you a solid baseline to work from.
2. IDENTIFY YOUR STRENGTHS AND WEAKNESSES – Evaluate your skills and knowledge in real estate sales. This can include lead generation, negotiation, marketing, and client management. You can focus on developing those skills throughout the year by identifying areas for improvement.
3. DETERMINE YOUR ANNUAL INCOME TARGET – Decide how much money you want to make during the year. Be realistic but also ambitious in setting your income goal. When setting this target, consider your personal expenses, desired savings, and investments.
4. CALCULATE YOUR SALES VOLUME GOAL – To determine the total sales volume you need to achieve your income target, divide your annual income goal by your average commission rate. This will give you the total sales volume you need to reach your financial goal.
5. BREAK DOWN YOUR SALES VOLUME GOAL INTO TRANSACTIONS – Divide your total sales volume goal by your average sale price to determine the number of transactions you need to close in a year.
6. SET ACTIVITY-BASED GOALS – Identify the key activities that will help you reach your transaction goal, such as generating leads, conducting listing presentations, or attending networking events. Set specific, measurable goals for each activity and track your progress throughout the year.
7. CREATE A STRATEGIC PLAN – Develop a detailed plan outlining the steps and strategies you will use to achieve your sales goals. This should include marketing tactics, prospecting methods, and a schedule for regular follow-ups with potential clients.
8. MONITOR AND ADJUST – Regularly review your progress toward your annual goal and adjust your strategies as needed. Analyze your performance and identify any areas where you can improve or make changes to help you stay on track.
9. STAY ACCOUNTABLE – Share your goals with a mentor, coach, or colleague who can help you stay accountable and provide guidance throughout the year.
10. CELEBRATE YOUR ACHIEVEMENTS – Recognize and celebrate your progress and accomplishments along the way. This will help keep you motivated and focused on achieving your annual real estate sales goal.
2. Increase Monthly Listings
OBTAIN A CERTAIN NUMBER OF MONTHLY LISTINGS – To consistently secure a certain number of monthly listings, a real estate agent should develop a systematic approach to lead generation, prospecting, and relationship building.
Here are some strategies to help achieve this goal:
1. SET A MONTHLY TARGET – Break down your annual sales goal into specific monthly listing targets, making your goals more manageable.
2. DEVELOP A DIVERSE PROSPECTING STRATEGY – Combine different tactics like cold calling, direct mail, social media marketing, and online advertising to identify potential clients and motivated sellers consistently.
3. BUILD AND NURTURE RELATIONSHIPS – Cultivate your sphere of influence, attend networking events, and collaborate with other professionals to generate referrals and leads.
4. PROVIDE EXCEPTIONAL SERVICE AND A STRONG VALUE PROPOSITION – Offer outstanding service to your clients, develop a unique selling proposition, and leverage online platforms and social media to showcase your expertise.
5. TRACK, ANALYZE, AND FOLLOW UP – Monitor your prospecting efforts, use a CRM system to manage leads and clients, and establish a follow-up system to stay top-of-mind with potential clients.
3. Email A Monthly Newsletter
EMAIL A MONTHLY DIGITAL NEWSLETTER – Generate leads and WOW your clients and SOI with a custom digital real estate newsletter.
4. Obtain 5 Monthly Referrals
OBTAIN A CERTAIN NUMBER OF REFERRALS A MONTH – Establish a system in which you obtain regular referrals.
5. Fire Some Of Your Team
LET SOME OF YOUR TEAM GO – Maintaining a high-performing real estate team helps ensure your business's success. People remember not only you but how your team helped your clients. Your team includes your preferred title company, professional photographer, home inspector, preferred lender, and all others who are a part of your real estate business. This is another strategy to stay top of mind.
Sometimes, this means making tough decisions to let go of team members who are not meeting expectations or contributing positively to the team dynamics. This is an important strategy in staying top of mind and the agent they choose for future transactions and referrals.
• IMPROVES TEAM PERFORMANCE – Underperforming team members can hinder the overall productivity and efficiency of your team, making it challenging to reach your goals.
• PROTECTS TEAM MORALE – A team member with a negative attitude or poor work ethic can impact the morale of other team members, leading to decreased motivation and productivity. It can be cancer within your real estate organization.
• MAINTAINS A PROFESSIONAL REPUTATION – Your team's performance and professionalism directly influence your reputation in the real estate industry. Letting go of team members who don't meet your standards helps maintain your reputation for excellence.
• OPTIMIZES RESOURCES – Removing underperforming team members allows you to redirect resources and invest in the growth and development of your remaining team members.
6. Run Facebook Ads
RUN FACEBOOK ADS – Facebook real estate ads can be a great way to generate leads. Use your listings to generate real estate leads.
7. Post Daily On Social Media
POST ON SOCIAL MEDIA CONSISTENTLY – Social media provides real estate agents a powerful platform to showcase their listings, offer helpful home buying and selling information, engage with potential clients, and build their brand.
By leveraging visually appealing content and targeted advertising, agents can expand their reach, generate leads, and ultimately boost their sales. Use these 100 social media post ideas to help you.
How To Achieve Your Most Ambitious Goals
HOW TO ACHIEVE YOUR MOST AMBITIOUS GOALS – Bija Advisors' CEO, UCSB Lecturer, and Yarnbomber, Stephen Duneier, shares the fascinating science explaining why many of us struggle to achieve our New Year's resolutions and what it means for all the other goals, hopes, and dreams we have for ourselves.
He then explains how he's harnessed the power of cognitive science to break through barriers and consistently reach even more ambitious milestones year after year.
In this uplifting video, he presents inspiring examples and easy-to-follow steps to help you close the gap between your current situation and the life and business you want.
Read and Learn
Study and learn from other business people.
Get the “Real Estate Marketing Strategies: Ideas and PDF Guide” to help you achieve your real estate goals.
Find books and courses that will help you sharpen your saw and achieve your goals.
Check out this list of top real estate agent books.
Implement your goal achievement plan and stay consistent with these goal achievement tips.
Your future self will appreciate you for it!