In commercial real estate brokerage it pays to set hard and challenging goals that you can strive towards over the weeks and months. Don’t let complacency set into your real estate business. Drive and action have to be the tools to use personally in building your real estate momentum. You can achieve some good goals and targets if you know the realities of the business and your location for what they are.
In setting these goals remember the differences between realism and impossibility. Don’t set goals and targets that are so ‘off the planet’ that you cannot ever reach them; don’t disappoint yourself with things that are impossible. Stretch your goals with listings and commissions but keep them realistic at all times. Position yourself into your goals and start taking action; refine your processes as you go so the results keep growing.
Set the Targets
Here are some valuable goals and targets to set and work towards:
- Reaching new people –Grow your database with new people. Reach into new segments of people that you have not connected with before.
- Meetings per day and per week – Our business is very much ‘face to face’ and trust is part of converting new business. You will have to create plenty of new meetings per week to convert clients and build trust.
- Presentations made for new listings – How many presentations did you have last week? How many did you convert? These numbers are really important.
- Shorter time on market – Be the agent that actually gets results with a shorter time on market. When you have a good listing, market it comprehensively.
- Inspections per listing – You will need plenty of inspections locally with all of your listings. Track those numbers so you know what’s happening with enquiry.
- Database growth – Build your client and prospect list through more cold calls and door knocking. Over time you will see your contact list grow. Keep up the momentum.
- Commissions per transaction – Focus on the larger transactions and listing the better properties. They will allow you to convert business faster and more comprehensively.
- Referrals collected – Always ask for referrals. They will be the easiest business you have ever done.
- Signboards on exclusive listings – It is important for your name to be on the best local properties. Exclusivity matters in how you do that.
- Marketing dollars converted with exclusive listings – Every good quality property that is exclusively listed will require marketing money. Lift your presentation processes and listing pitch to achieve that process.
All of these factors can be merged into some goal targets in commercial real estate brokerage. How are your goals now? Take steps to improve your personal skills so your goals and targets really get some traction.