It’s common knowledge that the real estate industry keeps flourishing because living spaces for sale and rent never lack demand. This industry is also highly competitive, as many property agencies look to profit from the vibrant housing market.
As such, realtors have to stay on top of many things to stand out from their competitors and enjoy success. Goal setting is one area the best realtors prioritize to get ahead in the industry, ensuring that they have clearly defined targets to guide them. Below are some insights into how the top residential and commercial property agents set goals that are realistic and effective.
Make your goals buildable.
Many experienced realtors agree that it’s essential to set buildable goals to achieve long-term success. Buildable goals are small targets that accumulate into bigger goals, ensuring that you create a defined pathway to success. Therefore, attaining minor, short-term aims gradually shifts you closer to your bigger, long-term goals.
For example, suppose you’re a new realtor. In that case, you can set goals like establishing a website, getting on social media platforms, and creating marketing materials for your agency within one month of its establishment. You can then set out to identify a specific neighborhood for your geo-farming plans within six months and aim to complete at least twelve closings within a year. This way, you can achieve overall success in your real estate business within one year. Several esteemed real estate companies set buildable goals for long-term success. Renowned real estate companies such as Venterra Realty are good examples of such organizations.
Venterra Realty Management oversees numerous apartment communities and homes in eleven major US cities in the southern United States. Venterra properties house more than 35,000 residents and 11,000 pets. John Foresi, Andrew Stewart, and Greg Finch established the company in 2001 to offer industry-leading real estate management services. They specialize in identifying, developing, financing, acquiring, and managing multi-family apartment communities. A recently published PR Newswire article reported Venterra Realty is recognized as the top-ranked company on the 2021 Best Workplaces in Texas List put together by the Great Place to Work Institute.
The company credits its success to its award-winning company culture and its team’s commitment to improving residents’ lives by guaranteeing top-notch customer experiences, one of their four operating pillars besides innovation, employee experience, and operating excellence. What’s more, they use the latest technology in the property management industry in their duties, ensuring high-efficiency standards that benefit employees, residents, and investors.
Drill down to create specific goals.
Vague goals rarely inspire actual progress, so it’s essential to make your company’s goals as specific as possible. Particular objectives are clear on their targets, putting everything into perspective for both you and your team members. For example, wanting to improve your business this year is a noble but vague aim. Instead, you can opt for a more detailed breakdown of this objective, beginning with improving your business visibility through optimizing your website’s performance.
Specific goals like this make it easier to take action and measure outcomes since there are defined parameters for success. If your target is to improve your visibility and get more customers, you can rely on helpful software assistance. Leading brands such as Business Warrior will come in handy when seeking the best software to achieve this objective.
Business Warrior software assists small business owners with simplifying and prioritizing daily decisions to boost profitability. The software takes a holistic view of a business’ listings, online reputation, social media efforts, and website search to recommend necessary actions that improve visibility and drive new customers. As such, you can easily be discovered by clients and follow suggested advertising steps to acquire more patrons. You can also detect and address everyday issues before they affect your bottom line and prioritize daily activity to make the most of your time. The BusinessWarrior.com website’s blog also provides various insightful articles on marketing, start-ups, public relations, case studies, and business tools to modern-day professionals.
Ensure that all your targets are time-bound.
You can achieve realistic goals within a defined timeframe, so you should always set objectives with an exact idea of the deadlines for their accomplishment. Time-bound goals are necessary because they eliminate comfort and introduce some urgency into your overall plans. Having deadlines to meet also helps you stay on track to attain your goals. For example, you can set a time-bound goal of improving your sales techniques within three months and take practical classes to help you realize this target. Renowned sales tutorial websites are handy when seeking out essential information on selling homes.
Selling Power Inc. is a multi-channel media enterprise founded by Gerhard Gschwandtner. The company produces a resourceful magazine, that has been a leading digital periodical for sales professionals, since 1981. Their website contains various magazine issues to which you can subscribe for yearly access. Their website also has articles on various sales-themed topics, including sales coaching and training, talent, process and methodology, enablement, operation, prospecting and sales leads, selling skills, and sales technology. What’s more, the site provides helpful sales-related video content, resources, and access to virtual events and webinars.
Seek to establish measurable objectives.
You always need to assess progress on your defined targets, so it’s essential to set aims that you can measure. Measuring your goals makes it easier to manage them since you can track advancements and monitor what you need to do to obtain long-lasting success. As such, you need a system to measure the outcomes on goals like obtaining more clients or getting more listings. Thankfully, you can follow many OKR examples to set goals for various levels of your enterprise. You can then monitor key metrics on these goals to track your progress and ensure that all your teams are aligned towards achieving shared aims.
To conclude, goal setting is a crucial aspect of any company’s success in all types of industries, including real estate. The above-listed points are insights into how top realtors set effective and realistic goals that make them industry success stories.