RISMedia's Real Estate Magazine

NOV 2014

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

Issue link: http://remag.rismedia.com/i/402040

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Page 28 of 142

24 November 2014 RISMedia's REAL ESTATE {Business Building} At those visits, your doctor evaluates your overall health by conducting a battery of tests on your blood counts and cholesterol level, evaluating your diet and weight, discussing what adjustments you made for certain conditions and, most importantly, de- veloping a plan of action to correct any new concerns. Unless you make that appointment and take the time to visit your doctor, you won't know what ails you. The same can be said of your business. Setting goals and creat- ing strategic plans doesn't happen without some introspection. A good place to start: Revisit the goals you set for 2014 to see if you ac- complished them this year. Did you close as many transactions as you wanted to? Are you on track to earn the gross income you wanted for the year? Have you generated the num- ber of new leads needed to keep a healthy inventory of listings? If you answered yes to these ques- tions, that makes it easier to plan for 2015. If you've fallen short of your production goals, take a long, hard look at what you might need to change. This is a crucial step; you don't want to spend time or money in areas that are not dollar-produc- tive and will keep you from moving forward. Whether it's fne-tuning your advertising, fnding administrative help so you can get more face-to- face time with clients, or increasing your listing price range, you should be able to pinpoint what's working— and what isn't—so you can adjust your approach accordingly. Figuring out what you need to change and making a plan on how to do better is a great frst step. Next, it helps to write out your goals for the year ahead. We all have different sys- tems for business planning, so pick one that works for you (even if it's daily sticky notes or auto-reminders in your calendar). Not everyone's goals are tied to in- come. Maybe you want to break into luxury sales so you can take fewer listings. Maybe you're thinking about earning an advanced degree. Or may- be you want to schedule more time with your family or get more involved in charity work. No matter what it is, take the time to write down your goals. Remember: People who write down their goals are more likely to achieve them. Think of it as a road map to your own success. One fantastic thing about work- ing in real estate is your freedom of choice. It's up to you to shape your future, and it all starts with a positive mindset. And keep in mind that no successful company—even a small business—reaches its potential without having a clearly defned plan to get there. So take a day or two to refect on what's next for your real estate business. Celebrate your triumphs, learn from your missteps and, above all, grow from them to have an even more fulflling year ahead. You owe it to yourself—and your clients. RE Margaret Kelly (CRB) is chief executive offcer of RE/MAX, LLC. For more information, visit www.remax.com. Want Your 2015 to Be a Success ? Start Making Your Goals Now by Margaret Kelly A s this year winds down, it's a great time to take a critical inventory of your business. I like to think of it as a checkup that's similar to an annual physical at the doctor's office.

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