Succeed in 2012 by Setting Realistic Expectations

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When entering the New Year, it’s common to set goals for yourself. In real estate, those goals are translated into more clients, more listings and, most importantly, more closings. Just remember to not go overboard.

Sometimes, I hear agents say that their goal is 50 or even 100 transactions. Even a team of agents would have trouble meeting these numbers, and I hear this from a single real estate agent. If that wasn’t bad enough, they only completed 10 transactions the prior year.

Setting lofty goals is a good practice, but it’s also important to set goals that can be reached. When your ambition is too high, it can begin to look daunting and unattainable, which could end up setting you back.

Here are some realistic goals that will help you get on the right track in 2012:

  • Work more hours: Is it a coincidence that the top agents are always the ones I see around the office? No. The more work that you put into this business; the more you’ll get out of it. Remember, home is a distraction. Get out of the house.
  • Gain new clients: A goal of gaining more clients isn’t as difficult as it seems. Whenever you’re out, strike up a conversation. Ask if they know anyone that is interested in real estate. Wear your nametag, and you’ll be surprised how many people just come up and start asking you questions. I always hosted open houses, and they’re still a good source of buyers.
  • Follow up with your sphere: Referrals are a big part of our industry. Gaining a referral from a past client, family member or friend is a slam dunk in this business, because you’ve already crossed the biggest hurdle – gaining their trust. Don’t let your sphere of influence forget that you’re in the business of real estate.
  • Get involved: Not only are the top agents always at the office, but they’re also involved in their local boards and other community organizations. Don’t just sit on the sidelines. Networking with fellow agents can net you more referrals.
  • Find a new niche: Whether it’s foreclosures, mountain homes, in-town properties or another specific field, it’s always a good idea to broaden your horizons. Take classes and speak with other agents that serve those clients. It might be easier than you think.

While real estate has definitely taken a turn for the better – sales are up and many agents had increased revenue – we aren’t out of the weeds yet. Don’t believe the hype. Temper your expectations and succeed in 2012.

What are some of your goals in 2012?

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7 Responses to “Succeed in 2012 by Setting Realistic Expectations”

  1. Arthur Harris Says:

    My goal for 2012 is a minimum of 12 transactions that is one transaction per month.

  2. Linda Mock Says:

    Great Article! Back to the Basic’s indeed are realist efforts needed for success in 2012. My plans begin with reading “Who Moved My Cheese” by Spencer Johnson which is a cute little story about change. Letting go of the old, and “what would you do if you were not afraid”. Sniff, Scurry, Hem or Haw? For those of you who have read this book. Attitude is everything, and “Activity breeds Activity”.

  3. Tom Beechler Says:

    Great direction!

    Get your goals set…then build a business plan around it. Beechler Realty Group starts this process in September of each year. By November 1st our plans are in place. They are then reviewed on a monthly basis. We find we are in a constant state of making minor adjustments as the year goes on, for our industry is far from being static. Keep your plans simple and follow Kevin’s advise…you’ll have a great 2012.

    As a point of reference! Our “Inner Sphere” is like gold to us. We touch those folks constantly. For the past eight years we have delivered a minimum of $500.0K in sales from this group annually. This past year we did over $1.6M in referral business from this group. And, we only have 93 contacts in our “Inner Sphere”. As Kevin say’s …these were a Slam Dunk…we did not have to prove ourselves.

  4. Latisha Says:

    Just what we need. Thanks.

  5. Loys White Says:

    Thanks, Kevin. It is good to hear that realism is the best way to stay grounded in this business. I am new to this industry; however not new to business. I do believe that finding a niche is the best way to keep revenue flow as well as reaching out consistently to your sphere of influence, because it is people that drive our individual success. I don’t have a problem putting in the hours, because I am full time; so even though I have some lofty goals set, I take advice from my 15 year old daughter who says shoot for the moon and if you don’t hit it at least you will go somewhere. Thanks for the insight and for checking in!!!

    Have a great new year!!

  6. John Baker Says:

    Good stuff Kevin. Goals are like a recipe in baking a cake. Follow the guidelines, break it down into actions and it will lead to the path for success. Like Ghandi said, “you only eat an elephant one bit at a time”. So determine where you need to start, accomplish that task and go on to the next task.

  7. John Baker Says:

    That would be one “bite” at a time….. Sort of like typing, one letter at a time!

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