Aug 2nd, 2019
We have only 5 months left in 2019 and I have to ask; are you on track to hit your goals this year? If not, it is time to step it up and Dominate in Real Estate!
So the question is what are you going to do to hit your goals? You have to look at what didn't work the past 7 months and NOT change the goal, but change the strategy. So we do this in a couple of ways.
- Look at any deals that fell apart. What are those buyers doing today? Are they still going to buy? Are you in constant communication with them?
- Look at any listings that expired (and are not currently re-listed) or any that were withdrawn. Review the things that you can control (marketing and exposure) and come up with a better strategy to market the property. Meet with the sellers and get the house back on the market.
- Contact your database. You can do this over the next 7 - 15 days. Check in with your SOI and past clients. See if there is anything you can do for them. Remember to ask them "If you hear anyone talking about selling or buying, please give them my number and introduce us so that I can help them in the same high level I helped you".
- Door knock neighborhoods. Start with where you have listings.
- Have an event. It is not about the complexity of the event but the results. We talk about an event that provided us with a handful of prospective buyers and sellers that cost under $ 500!
If you goals is Gross Commission Income, Transaction Sides or Total Sales - take your goal for 2019 and divide it by 12 and then multiply it by 7 (yes we are done with 7 months already!). Now look at your actual numbers. We use the example of 24 closed transactions in this episode, which means we should have closed 14 transactions YTD. In my example, we only closed 10, which puts us at a deficit of 4. We added our deficit to the amount of transactions we need to close the remaining of the year (24 total transactions divided by 12 months and multiply by 5 and add in the deficit) and we have 14. We then subtract any transactions that we have in escrow that are past contingencies and we are confident are going to close, and that leaves us 12. We then divide that by 4 because we are working 30 - 45 days out and anything we put into escrow today won't close until September. In our example, we have to do 3 transactions per month to hit our goal of 24 for the year.
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