When asked “What business are you in?” every real estate agent should say “The Lead Generation Business”. Generating leads is the key to the agent’s Dollar Productive Activities – Listing; Selling and Negotiating. The best plan for goal setting is the end result – how much money do you want to earn or how many homes do you want to sell? Once you set your goal for Gross Commission Income, divide that number by your average commission in dollars; that will tell you how many closed transactions you need. Now, based on your conversion rates, you can determine how many listings and how many buyer contracts you need.
In addition to your goals for money and the listings you need to earn it, you also need to consider your systems, the tools you will use to facilitate your business and leverage, the people that will help you accomplish more than you can do on your own. And the only way to grow is to keep learning and stretching, which is why you need a goal for Personal Education.
Successful agents have this in common: they set goals in all of these categories and they know their numbers; they know where they are at in achieving their goals. Most successful agents have one more thing in common: they have a Coach. If you are unsure how to set and achieve your goals, working with a Coach is the best way to overcome that challenge. A Coach will not only help you set your goals; they will hold you accountable to the activities that will actually cause you to reach or exceed them.
Jeff Young, Coach at Corcoran Consulting and Coaching is an active real estate agent specializing in helping Sellers, Buyers and Real Estate Agents achieve their goals