By Maddie Jostol
Here we are heading into spring when the market heats up again and the leads start flowing. We started the year strong, setting goals for ourselves – maybe you want to grow your business, organize your business finances, or find better work/life balance – whatever it is, we started the year off with high hopes. Life gets busy, though, and as the market ramps up, it’s easy to get caught in the weeds and lose sight of your overarching goals. How do you plan to hold yourself accountable throughout the year to ensure you reach those goals? Here are a few tips.
1. Make those goals SMART
First step is to review your goals. Revisit those goals you set at the beginning of the year and make sure they’re defined enough to follow through on. Make sure they’re SMART:
• Specific – Outline specifically what you’re hoping to accomplish.
• Measurable – Attach metrics to your goals. How will you know if the goal has been met?
• Achievable – Make sure the goal is realistic. Being ambitious is a good thing, that’s how we take our businesses to the next level. But make sure your goals are do-able.
• Relevant – How does the goal relate to the direction you want your life and your business to take?
• Time-bound – Set a deadline for the goal. When are you hoping to achieve this by?
2. Make a plan
Without a plan, the path to your goals is undefined, making it easy to get off track and lose sight of the finish line. Make sure you have a plan that gets you from point A to point B. Set a few milestones you hope to achieve along the way and outline a few things you know you have to do to get there. Having this plan mapped out (even if it’s high-level) will make your life much easier as you navigate toward those goals throughout the year.
For more, check out this article is the latest Mile 62 e-Magazine, built specifically for real estate agents!
By Maddie Jostol
2018 is your year to not only reach, but to exceed your business goals. If you either a) didn’t set goals for 2018, or b) have already lost track of them, making you think that maybe you didn’t go about goal-setting in the best way, then this guide is for you. Goal-setting gives you direction. It ensures all of the work you’re doing serves a purpose. There is no one thing that you are doing to make your business reach its goals. There is no silver bullet for real estate agents. In reality, it’s an accumulation of things, which is why having goals in place is so important. It means all of those little things can map to something bigger and add up to success.
Make that money.
At the end of the day, you’re working to make money. There is no one-size-fits-all formula for how much a real estate agent (or anyone, for that matter) should make. Think about how much you need to make in order for this year’s work to be worth it. What is your time worth? How much time and effort are you planning to give? What pieces of your life do you need to fund and how much will you need to make in order to do that?
Once you take those questions into consideration, begin to form your financial goal for the year. Next, calculate your GCI (Gross Commissionable Income) goal. This is important as it’s directly relatable to the day-to-day progress you’re making. Each time you complete a transaction, you can see exactly where you are on your path towards your annual goal. If you’re a Moxi Engage user, be sure to input your GCI goal in your Moxi account. This way, you can easily see your goal reflected on your Moxi dashboard, as well as the progress you’re making towards it.
It’s really important to make your goals realistic and achievable. Of course, we encourage you to stretch yourself and reach for the stars, but make sure your goals are within reach. The last thing you want is to get discouraged and leave your goals behind altogether.
We’re all too familiar with the new year’s resolutions that fizzle out after a month or two. We’re hitting that point in the year when the gym is quieting down drastically after being packed for the last few months. Why? Because without a plan, it’s inherently difficult to follow through on your goals.
When goal-setting, consider the steps you’ll need to take to reach said goals. Write them down – even if it’s a rough list. This will not only help you gauge whether or not the goals you’re setting are realistic, but it will give you direction and get you on the right track as you set out to reach those goals.
Get your ducks in a row.
When your business runs smoothly, you’re better prepared to reach your goals. Part of goal setting should be getting the right systems in place for you to surpass those goals. As an agent, you are running your own business, which means accounting and tax filing take up time you could be using to close more deals. As independent contractors, most agents struggle with proper accounting since keeping your business finances sorted is such a pain. When it comes time to file taxes, you’re left sifting through a box of crumpled receipts and losing out on deductions because you didn’t have time to record and categorize everything.
QuickBooks Self-Employed helps independent contractors keep track of their finances all year, saving time and stress. When it comes time to file taxes, all of your expenses are auto-categorized to match your Schedule C and the average user saves $4,340 on taxes. With a snapshot of your business income vs. expenses, available on your app in real time, you always have a view of how your business is performing to ensure your goals are on track. Get a reliable system in place now! We’re offering 50% off your first year – check it out here.
By Tiana Baur
The year is coming to an end and it’s time for a moment of reflection. How close are you to hitting your goal this year and where were you this time last year? Are you guilty of setting lame, mediocre goals? There is a right way and a wrong way to set your business goals. Matthew Ferrara, real estate mogul, keynote speaker, and consultant, has some serious tips for how to go about and set your business goals. These best practices for goal-setting will help get you to where you envision yourself and your business to be, because when you care, you succeed.
First, take time to clarify your goals.
Matthew says, “Don’t start with a dollar figure. But, instead ask yourself, ‘What is the reward for all of your hard work?’ Maybe there are personal goals like saving for your retirement or putting your kids through college. Maybe it’s a professional goal such as being the best in your market place. Whatever those goals are, and they might change over time, you need to sit down and clarify those goals.” Focus on rewards first.
Next: What will it take to reach that goal?
This is where your numbers start to come in. How much revenue do you need to generate? What about in units? How many sellers/buyers does that mean? What’s the price point? Once you’d figured these out, you can find the system that helps make them a reality. As Matthew says, “The right system will go to work for you.”
The right system will…
- Take a look at historical data
- Analyze your current pipeline of contacts and prospects
- Give you a current status
- Help you build out a plan for success
You can expect some of the plans for success to include how many people you need to add to your sphere or actions the system can take care of for you like automated emailing or creating marketing tools. “The best systems don’t just organize your information. They need to activate them and help you work through that information using a process that is aimed at your goals.
Bring focus: Accountability starts with you
You need to be able to see your goal every single day. You need to see how the actions you’re making are generating the results necessary to reach the goal. Also, the technology you use should show other steps needed in order to attain said goal if you aren’t doing enough as is. This kind of information helps you with: Budgeting and planning, managing expenses, highlighting gaps in your projections, comparing current performance to previous time periods, and focus on tasks and goals.
- Goals are critical.
- Focus on the rewards then determine revenue necessary. Then take a look at the work required to generate the revenue.
- Connect your goals to your systems. Make sure your plan is driven by the right data that guides you step by step to the goal.
- Always be measuring progress. Make sure your system helps you keep an eye on your own progress, not just daily tasks.
If you’d like, you can watch the entire video below on how to set your business goals for 2018:
For those Moxi Engage users reading this, you can now review your previous years’ goals in Moxi Engage and compare and contrast how things are going in your business. This enables you to better choose your goals for the future.
If it’s financial guidance you’re seeking, we have a recorded webinar for you to watch here.
So, what are you waiting for? Hit the ground running in 2018 with goals and grit beside you! Trust us, your future self will thank you for doing this.
Brokerage success is dependent on two groups of individuals: your managers and agents. What are you doing to help ensure their success and your brokerage?
If you struggle with this, you’re not alone. The key to brokerage success can be summarized in two words: employee engagement. No really. By providing managers and agents with an engagement plan that includes coaching, communication, and tools training, it will result in real results:
- Increase agent satisfaction and retention
- Stronger manager/agent relationship
- Faster learning of brokerage technology tools
- Higher profits
Measure brokerage success through employee engagement
For us, brokerage success is measured by this engagement. We recognize the challenges brokers face with providing technology for their agents. We see it across the many brokerages we talk with every day. Things like unopened emails or agents who don’t take training. Not to mention a wide spectrum of agents; everything from new agents to top producers, who all have their own habits and preferences. Add it all up and you can see why most technology in most brokerages has low adoption and use.
A brokerage success platform for everyone at your company
Moxi Works is an entire platform with many integrated tools and services. In order to maximize agent use across this platform, we have developed comprehensive methods for engaging all stakeholders including managers, agents, trainers and support staff. It’s a program we’ve developed to help our 50 brokerage clients achieve phenomenal adoption and use rates. Moxi Engage enjoys over 50% use and over 5.5 million sphere contacts. And Moxi Present has over 70% use.
We get these kinds of numbers by making sure everyone at a brokerage understands why they should use the tools, what the tools deliver and how to use them. We do this with materials that are easy to digest and deliver in offices. We rely far less on email and far more on video. We help new brokerages understand the process at the beginning, and we build smart project plans tailored to each brokerage.
Sounds good, right? How do you start the process? The good news for you is we’ve encapsulated our methods into an “Engagement Cookbook.” We use this at the start with new brokerages to implement the full process. It lays out our partnership, content, communication flow, timing, the early steps to take, and finishes with ongoing engagement. Feel free to use it at your brokerage.