Has the Broker of Record in your office established goals for the New Year? If so, have you responded by establishing your own personal goals for 2013? As realtors, we are all responsible for reaching the goals which have been established for our office but, to do so, we must set our own goals and take responsibility for meeting them.
Use a progressive method of goal setting
If you are affiliated with a real estate office where the Broker of Record establishes sales goals for each agent, it goes without saying – or should – that you are responsible for meeting your individual sales goals. It is hoped that your broker has set realistic goals for each agent and, in a well-managed office this will be the case. However, whatever your individual goals may be, another set of progressively structured goals should be used to help you meet the final goal your broker has set for you.
- Establish monthly goals for yourself which will bring you to the final goal your broker has established.
- Be realistic in the goals you set for yourself.
- Build your monthly sales goals gradually with your highest goals conforming to the selling season.
- Review your progress regularly and adjust your goals as needed.
A progressive method of goal setting is by far the most effective way to achieve your year-end goal as established by the broker who runs your office. In other words, if your year-end goal is X, then your monthly goals should be X ÷ 12, taking into account seasonal variations in the buying cycle. For example, January and February might be represented by this formula: (X ÷ 12) – 40%, and the months of June and July would reflect the opposite: (X ÷ 12) + 40%. In this way, the months when buyers are more inclined to purchase will make up for the slower months. Of course, there may be variations in your marketplace which would cause these numbers to vary, but the idea is clear.
As Broker of Record and Managing Partner of my own offices in Newmarket, Royal LePage York North Realty, it is my responsibility to ensure that my teams are productive and profitable. The Broker of Record for your office has a similar responsibility. He or she must review the production of every agent on the team of agents and find ways to ensure their productivity. To not do this would be to abdicate the responsibility they accepted when becoming the Broker of Record. Similarly, for you, as an individual agent or sales rep were you to fail to meet your sales goal for the year, you too would be failing to accept responsibility for your own performance.
Under those circumstances, there is not a real estate office in the world that could survive.
Here is to an ongoing and successful online relationship…
John Lusink, CCIM, Broker of Record & Managing Partner of Royal LePage York North Realty