Welcome to the end of 2017! Yes, that’s correct, the year is almost over. You listed and sold dozens of properties, facilitated countless showings for your buyers, and now with the holidays around the corner, you hopefully have a moment to reflect upon what you actually accomplished as a real estate agent this year.
Did you reach your goals this year? Do you have a plan in place to set goals for 2018?
Many of you may have begun working on and finalizing your next year business plans. Sometimes, it is stressful to embark upon that project, and you may not know where to start or how to make adjustments to what you already had in place. The first thing you have to do is take a deep breathe, and then place yourself in the right mindset and environment. Adhere to this principal, said by top Keynote Speaker and Author Erik Therwanger, “Don’t chase perfection, strive for progress.”
There is no right or wrong way to write a business plan. What is most important is that you keep your business moving forward and upward.
To keep things simple, try to focus on these three things:
- Budget: What is going in, and what is going out? Determine the “minimum” threshold you need to have a positive cash flow. Evaluate what you are currently spending money on and if it’s not getting you results, reconsider whether you need it, or reallocate those dollars to a new lead generation opportunity or tool.
- Tracking: Know your average sales price and how many closings you need to reach your income goal. Then, determine how many calls and appointments you need to get you there based on this past year. Do you know your listing presentation conversion rate? If you don’t, it’s time to start thinking about it!
- Time Blocking: Have you ever taken the time to write down what you are actually spending time on each day? How many of those tasks are income-producing activities? Now is a good time to establish a daily and weekly schedule, and don’t forget to allow some flextime for the unexpected.
As a real estate agent, marketing is always top of mind and is integrated into each of the three categories above. Online lead generation is a marketing tool that comes with actual tracking and analytics. However, it doesn’t always require a large investment. Facebook ads are one of the most cost effective and optimum ways to reach target audiences. You may also want to consider an offline marketing effort like geographic farming. Yes, I said it! It’s coming back and here at RE/MAX we want to get ahead of our competitors. Direct mail pieces stand out! I recommend you send out at least 3-4 this coming year.
Before the New Year approaches scrub your database! An organized database plays a critical part to helping you reach some of your goals because your database is your greatest asset. Implement a top CRM tool like Top Producer or Contactually as they integrate with FiveStreet. Plus, you’ll want to categorize and label your contacts so that you can be much more targeted with your messaging.
Remember, business planning does not have to be complicated or lengthy. Do what is best for you, and remember to think or ask about the products and tools available that’ll help you become more profitable. Make this downtime count and get on track for a super successful 2018! Thanks for all that you do and for helping leading the way in the real estate industry. Happy Holidays!
Learning and Development Specialist
RE/MAX INTEGRA, Midwest Region