One real estate coach has talked through some of the simplest mistakes real estate agents make when it comes to setting and reviewing their goals.
Fail to plan, plan to fail
For real estate business coach and consultant James Short, basic planning and goal orientation is a crucial — and often overlooked — part of a business.
“Without [plans], goals are not going to amount up into anything. You can set up as many goals as you want, but without any will to take action, goals are just wishful thinking,” he said.
Your core business goals should be central to the planning phase, he said. This might seem like obvious advice, but many agents running a business dedicate time and resources to low-value tasks, as opposed to processes and procedures which are conducive to big-picture goals.
“With careful planning, you will have a blueprint on how to go about the different challenges that you will face in trying to achieve those goals,” he said.
“The fact that you already have a goal and a plan to go with it means that you are already committed to achieving that goal.”
Checking in and reviewing
In the rush of running a business, prioritising the big picture over staff, administration and getting through the day is often overlooked.
Setting dedicated time for reviewing and recalibrating is an essential and, again, often overlooked part of an agent’s process.
“In order to move forward, you need to look back and examine what happened. What caused you to fail? What are those factors that led to that undesirable result? What do you need to avoid or adjust?” Mr Short said.
“Repeating and practising processes that produced small positive results will lead to bigger satisfying outcomes. Practice makes perfect.”
Keep your mind in check
Ego and confidence can take a hit when you fall behind on your goals, which can deter some from dealing with failure or falters.
“It’s just so easy to put things aside if they are not working. Re-examine your goals and plans and put extra effort to fix the issues that you encountered,” Mr Short said.
“This is your goal and you have to be accountable. Success does not come easy. Never set things aside or you could risk losing direction. Keep working on it. Sometimes, a tough challenge is only one step away from making that big breakthrough,” he said.
Celebrating wins, as an individual and with your team, is one way to stay motivated.
“When reviewing your goals, you would be able to see what milestones you have already accomplished. This might just be a small thing, but it can give you that much-needed boost in morale to keep you working and staying on the path,” Mr Short said.