Real Estate Business Goals for the New Year

Do you set the same business goals every year? If so, that's fine, but take a few minutes to think about what you actually want to accomplish this year and determine whether or not your business goals are supporting your overall plans. You should also make sure your personal and business goals are aligned so that you don't have to sacrifice one for the other.

Basic Goal Etiquette

A goal should be specific, measurable, attainable, and have a clear end date. For example, "Get more leads" isn't a good goal because it isn't specific enough and it doesn't include an end date. "Get 50% more leads year over year" is a good goal because it's specific, attainable, measurable, and has a clear end date.

Goal Examples

There are a lot of ways to express what you hope to accomplish through the goals you set. If you want to grow your business, your goal could be to win more leads, increase your lead conversion rate, or to find new ways to attract repeat business and referrals. You could also make your goals more about marketing, so you could look to gain more followers or engagement through specific social media channels. If you take this approach, be sure to set specific goals for each platform and determine when you'd like to accomplish them by.

Not everyone wants to grow their business. Perhaps you're already happy with your transaction volume. That doesn't mean you shouldn't still set goals and look for ways to improve your business. Goals to get more testimonials, provide more educational materials for buyers and sellers, and perform community service are a great way to spread the word about your business and get some positive recognition to build your reputation.

Balancing Personal and Professional Goals

Life is about more than business. Setting and achieving your personal goals is at least as important as achieving your business goals. Make sure that accomplishing one doesn't mean sacrificing the other. Look for ways to reach your business goals that allow you to maintain or grow the time you have to work on your personal goals. For example, instead of setting a goal to close more transactions, look for ways to obtain higher-value listings if they're available in your market. Or, if your market doesn't have a lot of room to work with higher value listings, look at other real estate related business opportunities to supplement your commissions, such as investing in rental properties.

Make a Plan

You can't achieve ambitious goals without a plan. Figure out the actual numbers it would take to accomplish your goal. How many listings, followers, or testimonials do you need to get each week to achieve your goal on schedule? When will you do the tasks it takes to push your goals forward? Set aside time each day or week to actively work towards accomplishing your goals.

Get Help

If you need help, find it. An office assistant can answer phone calls, order inspections, schedule property tours, put up listing signs, and manage your social media accounts for you. You can also consider hiring people to help free up time in your personal life, such as tutors to help you kids with their homework or a housekeeper or lawn maintenance team to maintain your house. If you need help achieving your goals this year, download Homes.com's free 2021 Business Planning and Social Media Checklists.

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