Real estate sales are a business. REALTORS®, like all business owners, must establish a clear vision and then plan the step-by-step method of how to achieve that vision. A vision is like a target. It’s where you want to be, what you want your business to look like when the business hits “full stride.” It might seem like a moving target at times, but flexibility is another key to success, so roll with the punches. Changes often turn out to be opportunities in disguise.
Without a vision, your business will flounder. If you have employees, they will lack adequate information that will keep them from doing the best job they can for you and your business.
Think of it this way: If you were asked to put together a 1,000-piece jigsaw puzzle, would you not want to look at the box cover with the picture of the completed puzzle before you begin? And would you then continue to look at the cover with the picture of the completed puzzle throughout the entire puzzle-building process? Imagine how difficult it would be to build the puzzle without knowing what it’s supposed to look like when it’s completed. Your future is no different. It is difficult to achieve a future of your own design if you don’t take the time to first create the vision. This concept is not lost on major corporations, which typically have a mission statement and a vision statement.
To establish a vision, imagine it is the day you retire from the real estate industry. If I was to hand you a pen and a blank piece of paper and ask you to write down all of your major accomplishments during your career, what would you like to be able to write on that piece of paper? These items can be termed key performance indicators (KPIs) for a successful real estate career, as measured by you.
• What you accomplished for and in your community
• What you accomplished for and with your family
• How much you put in your bank account and in your retirement plan
• What you accomplished for your association of REALTORS®, the offices you held and volunteer work you did
• How many listings you took and closed
• How many buyer-side transactions you closed
• How many generations of clients you successfully worked with
Likewise, you should have key performance indicators for a successful day’s work. Contact with people creates opportunity. Said another way, contacts create contracts.
• Number of engagements with current transaction customers
• In-person meetings
• Phone calls
• Number of engagements with past customers
• Number of engagements with prospects
• Number of engagements with human beings
With a vision, you can begin to create your business plan. Just make sure your plan centers around engagement.
To paraphrase Cheshire Cat: “If you don’t know where you are going, any road will take you there.”
Saul Klein is senior vice president for Point2.
For more information, visit www.point2.com.