Oct 14, 2022
A clearly defined set of goals (and putting plans to paper) is the best way to ensure you accomplish what you want in both your personal and professional lives. In today’s episode of The Real Estate Sales Podcast, Jimmy walks through his goal-setting process to plan the actions and directions necessary to succeed.
Use SMART goals:
- Specific, Measurable, Achievable, Relevant, Time-bound
- Start from the amount of money you want to make, and divide your desired yearly income by a single average transaction income to get the average number of transitions you’ll need for the year.
- On average, it takes 50 real estate conversations to garner a transaction. Therefore, multiply the number of transactions by 50 to determine how many discussions you’ll need over the year to receive the desired income.
- Consistency is key. Just because you don’t have enough conversations one day doesn’t mean it should prevent you from making those conversations happen the rest of the week.
- Try to have more conversations at the beginning of each week to generate momentum.
- Plan to make more calls in the beginning - double the calls for the first few months to start strong and make it more likely to reach your goals
What are you going to do to generate these conversations?
- Overhear people in your community, whether at the church, grocery store, or coffee shop.
- More importantly, generate leads to generate conversations.
- Have seven different sources of leads, so you have multiple streams.
- Start with past clients - they already know, like, and trust you.
- Talk with your sphere of influence and use the existing relationship to quickly determine how you can be of service to them.
- Identify how you generated your past clients. Was it a purchased lead, or was it through open houses or other events? Whatever sources generate the most leads, increase your activity in those channels.
Budgeting:
- Investing is a systematic approach to garnering a routine return.
- Top agents understand how much they can expect their earnings to generate for their business. Understand your figures, and reinvest at least 10% of your generated income for marketing and other assets for your business.
- Invest in events and training. There are many benefits to being around other agents and thought leaders in the real estate industry.
- Find conversations that surround yourself with other top producer real estate agents. There are opportunities to both learn and network with other top agents.
- Mastermind groups and skill-related online courses geared toward powerful real estate tactics are potent tools that will give you the knowledge and information to be a better agent.
Do you have a video or content idea perfect for your business? Share it with Jimmy! Connect with Jimmy Burgess on LinkedIn and Facebook and his YouTube channel. If you like what you heard today, we’d love it if you’d share a rating or review and then subscribe to the podcast and tell others about it. You can find The Real Estate Sales Podcast on Apple Podcasts, Google Podcasts, Spotify, Audible, and our website, The Real Estate Sales Podcast.