Reset Part Two

Tracking and measuring progress is important in business, and mid-year provides that halftime in the game for resetting for the second half. Last month, I addressed the importance of checking the alignment of your business, processes, and outcomes with your foundation. It is time to ensure that we are staying true to our mission, vision,
values, and beliefs and make adjustments where needed. Part Two focuses on your numbers and your activities.

1 GET THE NUMBERS. You will need to set aside some uninterrupted time to do this and to gather your year-to-date projections (January 1, 2023 to June 30, 2023) versus
your actuals and the gap (over/under) for the following:

closed units, closed volume, closed GCI, listings taken units, listings taken volume, pending units, pending volume, pending GCI

It is important to separate the units, volume, and GCI. You can control your units more than you can control your volume. Your activities influence your volume. Your activities drive your units. Volume is also an ego trap for agents. One big sale (or one small sale), an outlier, can distort the picture of what is really happening in your business. Commissions vary, and volume does not translate into the same income on each sale.
You can’t spend units or volume, so tracking your GCI at all times is important!

2 GET REAL WITH THE NUMBERS. Now that you have a picture of the current state of  your business, it is time for some questions

1. How far am I from where I need to be?
2. Do I need to revise my projections?
3. What is the impact of not meeting my projections?
4.Does my calendar reflect time on activities that
drive my income?

I purposefully use the word “projections” as opposed to “goals.” I am all for goals and set them for myself. However, I find that, too often, agents set goals that are more like dreams. Your calendar and scheduled activities (lead generation and lead follow-up) either reflect your goals or are simply wishful thinking, hoping — like deciding you want
to lose 25 pounds and then never exercising or changing your diet. Projections are what you can expect based on what you are doing.

3 MATCH MY CALENDAR TO THE NUMBERS. Now, with revised projections, determine what needs to be done to make the numbers fall into place. Then, schedule those activities on your calendar so they are consistent. Also, be aware of what must be done when people are available for face-to-face meetings or for phone conversations. For instance, notes and cards can be written at 7 a.m. or whenever. Determine your “prime time” for direct people contact and use it for that purpose.

4 GROWTH OPPORTUNITY AND IMPROVEMENT. Define activities that are the most effective. How could you do them better? (You would probably like doing them
more if you got better.) Who could you learn from or who could coach you? What could you do to be even more effective?

Define sources of business that you have neglected and get back at it. Focus on your three best sources of business. Are your lead-generation activities too passive? How can you engage more with people? How can you better position yourself as their real
estate expert and trusted advisor?

“The market is down” is not an excuse to not meet your projections. People are still buying and selling real estate. It is tough out there, and that is why buyers and sellers need you! The Game of 2023 is not over… Go and nail the second half!