As you reflect on the wins and losses of the past year, your thoughts are undoubtedly also turning to the coming year and what it holds. With some careful planning, you can set yourself up for success in 2022. Read on for tips on goal setting in the New Year.
General Goal Setting Strategies for Real Estate Agents
- Know your why – If you want to be successful, you have to start with inspiration, and that means knowing why you’re doing what you’re doing. Ask yourself questions like “Why am I in the business” and “Whom am I serving?” What are your highest priorities for your business this year? Knowing your why will answer that question and point you towards realistic, achievable goals.
- Make specific goals – A vague goal like improving your lead generation efforts will not likely lead to any success. Instead, decide specifically how you’re going to generate leads; for example, meeting with three people in your sphere of influence per week.
- Set measurable goals – You’ll know when you’ve reached your goal if you’ve made it measurable. Measurable goals are ones with a Key Performance Indicator (KPI) attached. Maybe your goal is to get more clients or more listings. Determine exactly how many more clients and listings you want to make your goal measurable.
- Make meaningful goals – This goes back to your why. What is the purpose behind your goal? Is it to buy a home or save money for your kids to go to college? Setting meaningful goals will ensure you remain enthusiastic about them throughout the year.
- Create buildable goals – No doubt you’re heard this advice before. Break larger goals down into smaller ones so you can build on your success. For example, what do you want to accomplish in the first month of the year? Then, what do you want to accomplish in six months? Short-term goals build up to long-term goals.
- Set a time limit on your goals – Setting a time limit on your goal will give you a sense of urgency and keep you on track to complete that goal.
- Make your goals absolute as opposed to relative – A relative goal may be something like “I want to be in the top 10% of agents by the end of 2022.” That goal is relative to other agents and their production. To make the goal absolute, calculate how much production you need to do. What is the volume of production of the top 10% and how do you get there? Based on the average sale price, conversion rate and weeks in the year, your absolute goal might be something like generating 25 new leads per week.
- Ensure accountability – The key to achieving any goal is accountability. Gather some colleagues and meet weekly to assess whether you each met your goals that week and to talk about what you’ll do differently the next week. Maybe even plan some rewards for yourself when you hit key milestones toward your goals throughout the year.
In summary, think of your goals as SMART goals: Specific, Measurable, Achievable, Relevant and Timely.
Do you have questions about goal setting for 2022? We’d love to help. Reach out to us at 571-234-5589 or email us at [email protected]. For videos on lead generation, Facebook tips, handy realtor tools and more, be sure to check out our YouTube channel.