At the beginning of each year, real estate agents set new goals, and most put some solid work into achieving them — at least for a while.
But how many agents actually manage to accomplish their goals? Not many. Like any other resolution, by Valentine’s Day, many will abandon their efforts.
According to real estate coach Rod Khleif, the problem isn’t necessarily that agents lose motivation, though that does play a part. Khleif says that most agents simply aren’t setting goals the right way.
Read on for Khleif’s rundown on the right way to set strong goals. For additional advice on achieving them, examples of great real estate goals and more, listen to the complete podcast interview below.
1. Don’t set goals when you’re low-energy
You shouldn’t just start setting goals haphazardly. Believe it or not, setting goals while in the right state of mind has a major impact on your ability to accomplish them.
According to Khleif, it’s best to set goals while in a high-energy state, not late at night or after eating a huge meal. This ensures that your mind is sharp and that you’re able to really get excited about what you’re doing.
2. Start with finances
Once you’re in the right frame of mind for goal setting, start with financial goals. Think about how much cash flow you want per month and how many deals you’d like to close.
3. Put your goals on paper, even if you think they’re bad
Don’t overanalyze your ideas at this point, just get them down on paper. You can always return to them later to tweak as needed.
4. Don’t forget educational goals
Also, since the real estate industry is constantly evolving, it’s a good idea to set some education-focused goals as well, goals that will provide you with the skills needed to make more money.
These could be anything from learning new advertising strategies to mastering a new segment of the market.
5. Place realistic time limits on your goals
After you’ve put some goals down on paper, it’s time to really put some thought into them. One thing to think about carefully is how long it will take for you to accomplish these goals.
Here’s something to keep in mind: People tend to overestimate what they’re able to accomplish in one year. On the flip side, people also tend to underestimate how quickly they can actually accomplish their long-term goals.
So, when placing time limits on goals, really put some thought into what and how long it will take to achieve them. Ideally, you should have a healthy mix of both short- and long-term goals.
Doing so will help to ensure that you’re consistently making positive growth and that you always have something to work toward as a source of motivation.
6. Find your why
With your goals and their accompanying time limits written down, you might think that you’re done; you’re not.
The last vital step in the process is to identify why you must accomplish these goals. Really think about the motivation behind these goals, and write down a few sentences describing how achieving them will change your life for the better.
By doing this, you can always refer back to why you’re working to achieve these goals, which will help maintain your motivation and greatly increase your chances of consistently working toward making your dreams come true.
For more tips on setting and achieving your real estate goals, listen to Pat Hiban’s podcast interview with Rod Khleif.
Pat Hiban sold more than 7,000 homes over the course of his 25-year career in real estate. Now, he dedicates his time to helping others succeed as agents and investors. As host of the Real Estate Rockstars Podcast, Pat interviews real estate experts to explore what works in today’s markets. He also founded Rebus University, an online training platform for real estate agents and sales professionals.