Start Doing These 3 Things Now if You Want to Surpass Your 2023 Transaction Volume

As you enter a new chapter in the form of a new year, you may be viewing the upcoming 365 days with a refreshed outlook. And with a new year comes plenty of new goals. When you look back on how your business performed in 2023, what are your top takeaways? You're likely reviewing transaction volume, and starting to strategize key ways you can surpass that number — or even blow it out of the water.

But before you dive headfirst into trying to beat your previous year's transaction volume, you want to be strategic and get a plan in place.

Without having a clear plan to knock your transaction volume goals out of the park, it can be a little like navigating choppy waters without a map. Sure, you've done well before. But if you're aiming to surpass the transaction volume you hit in 2023, you need to start doing these three things now to make that happen.

1. Get Crystal Clear on Your Goals

First things first: you can't dive into a new year without a guide to ensuring it's a smashing success. So, set aside time to sit down and get as clear as possible on your goals. And not just your transaction goals, but all the goals that ladder up to a successful, closed transaction. This requires looking at every area of your real estate business, and then assigning goals to each of those categories accordingly.

To surpass your 2023 transaction volume, you can consider setting goals around the relevant parts of your business, like:

• Lead generation
• Marketing efforts, online and offline
• Sourcing and working referrals from past clients
• Your lead follow-up process, like scripts, tools, nurture flows, and more
• Optimizing tools or investing in software to streamline your business operations and free up time for transactions

2. Look at What Worked in 2023… then Repeat and Level it Up

As you set out to set your goals, you'll want to reflect on 2023. What went well? What could have been done better? What do you wish you could have tried out? Take your successes that led to the transaction volume you achieved in 2023 and look at how you can replicate them. Then, look closer: can you level up your efforts even more?

For example, let's say your transaction volume in 2023 was fueled by referrals. You had an unbeatable script and seamless process for your clients to refer their friends and family to you. You also had an impactful nurture campaign for past clients so you stayed top of mind. Maybe your goals are around ramping up your script, revamping your nurture content, and testing a new approach, like social media marketing or paid third-party leads, to supplement your transaction volume in 2024.

Aiming even a little bit higher than you did in 2023 can set you up for a stellar 2024.

3. Measure Your Performance Regularly

You're ready to embark on chasing these new goals to surpass your 2023 transaction volume. But before you hit the ground running, make sure you have a process in place to measure your performance, and to do so regularly and consistently. To achieve your transaction goals and blow 2023's transactions out of the water, you need to keep a close eye on how everything that leads to a transaction is performing.

Monitor your lead performance and lifecycle. Track what lead sources are the strongest for your business, and which fall short. Develop a process to track what your clients are saying that moved the needle to get them to close the deal. See where you can optimize business operations to make running your real estate business more efficient and effective.

Taking these steps and checking in with your performance on a regular cadence ensures you're tracking to your goals, and if you're falling a bit behind, it also gives you an opportunity to course-correct. You also shouldn't shy away from resetting your goals altogether.

What matters most is you're keeping a close eye on performance and ensuring you're on track, even if you need to shift your goalposts a little (or a lot).

Set Yourself Up for a Smashing Success of a Year

If you're eager to surpass the previous number of transactions you hit in 2023, leveraging the three steps above can help give you a boost. Taking time to reflect with intention, set refreshed goals, and make sure you're staying on track can make all the difference in 2024.

To view the original article, visit the Inside Real Estate blog.

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