I hope this new year gives you new hope and new goals to grow your real estate business! As realtors, it’s super important that we set goals. And not just any goals, but goals that are SMART.
SMART goals – Specific, Measurable, Attainable, Relevant, and Time-bound – will give us a framework that will grant us direction and help keep us motivated and productive throughout the year. SMART goals offer both long-term ambitions and short-term motivations.
1. SET SPECIFIC GOALS
Avoid setting vague and generic goals. Make sure that your goals are specific. Specific goals mean addressing the who, what, where, when, and how of what you want to do. Simply saying that you want to improve your business’ online presence or increase your sales isn’t enough. A specific goal is precise in saying when and how this goal is to be achieved.
Vague goal: I want to increase my online presence this year
Specific goal: I want to increase my Facebook and Instagram engagement by 10% through organic and targeted ads by December 1, 2021
2. SET MEASUREABLE GOALS
Measuring your goals is one of the keys to success. If you don’t set measurable goals, there will be no way for you to know if you’ve actually achieved your goal. For example, your goal is to increase your sales by a million dollars. Think about the average price of houses in your area. Start computing how many leads and how many closings you need to achieve this goal.
When you measure your goals, you are also assessing your performance and discovering your weaknesses. It will also help you track your progress throughout the year.
3. SET ATTAINABLE GOALS
While we can dream big and write down ambitious goals, we need to make sure that these goals are still realistic or attainable. Consider your resources when planning your goals. Are you working full-time or part-time? Are you a single-agent operation or do you have a team of people? How much can you spend on advertisements and marketing materials?
It’s important to set goals that would push you to work harder and better but make sure that they are still within reason given your resources and time.
4. SET RELEVANT GOALS
The objective of setting goals is for the growth of your business. Hence, you need to set goals that are relevant to your business. Make sure that you align your goals to your company’s goals. This will give you a bigger reason why you are doing what you’re doing.
Ensure that you have a clear purpose on why you want to achieve that goal. Through this, you will have enough motivation to work hard to reach that specific goal. Whenever you struggle or run into a hurdle while trying to reach that goal, go back to your purpose. It should be enough to keep you going.
5. SET GOALS THAT ARE TIME-BOUND
Make sure to set a time period and deadline for your goals. This will keep you on track. Also, setting a deadline for yourself will help you be determined to reach that goal as soon as possible. If you do not set a deadline, there is a tendency that you might be too relaxed and eventually lose the drive that you felt during the first time you thought about that goal.
Start writing down those goals today! This is a perfect exercise to start 2021 right. Set your intentions for the year and commit to them.