Goal setting is essential if you want to be productive, efficient, and motivated. Unfortunately, many individuals who set goals don’t actually achieve them. Research from the University of Scranton found that more than 92% of individuals never achieve their New Year’s Resolution. If you want to be a part of the small percentage of individuals who actually achieve their goals in real estate, you need to learn how to properly set these goals and work to achieve them.
Defining Your Real Estate Goals
One of the first and most important steps in achieving your real estate goals is to determine what it is you want to accomplish. You need to set very detailed and clear goals. A few examples of specific goals include:
* Generating 20 leads
* Increasing revenue by $15,000
* Building social media following to 1,000 followers
You will notice that for every goal listed above, there is a definitive number you wish to reach. A few goals to avoid include:
* Build a social following online
* Close more sales
* Generate leads
These goals are not measurable and they don’t give you a specific measurement to gauge your success.
Determine the Purpose of the Goal
Why are you trying to accomplish a certain task? What is the purpose behind the goal? If you cannot answer this question, then you are less likely to put in the time and effort to achieve the goal. For example, if you want to increase your revenue by $15,000, maybe it is to pay an unexpected expense or to cover the costs of an upcoming vacation. Find your purpose and keep it in mind as you work toward your goal.
You can’t expect to increase your number of leads each month by hundreds of people. It likely won’t happen no matter how much work you put into the task. Ideally, you should start small and gradually work up. By setting realistic goals, it is also easier to stay motivated, particularly when obstacles come in the way.
Develop Specific Plans
Once you have determined what it is you are trying to achieve, you must figure out how you will get there. Developing your strategies should take time and effort. You need to evaluate how much time, effort, and money will be required to achieve the goal. You will also need to determine how quickly you wish to reach the goal.
Let’s look at a goal to generate 20 leads. What type of work is required to achieve this goal?
* Increase number of sales calls and appointments
* Improve social media channels
* Increase traffic to your website and blog
* Become active in the community through sponsorships, events, etc.
Once you have figured out the steps you will take to accomplish your goal, you can designate time each day to accomplish these goals. Set aside small chunks of time in the morning and in the afternoon to build your business.
Remember that your goals and plans will look different than another real estate agent. You must develop goals that you want to achieve and that you are passionate about. If not, you will not have the drive and the motivation to accomplish them — no matter how detailed your plans may be.