Your Business Plan for 2017
At this time every year, Real Estate Agents write, rewrite or rethink their business plan. Doing so can be frustrating for some, but it is probably worthwhile and necessary for most. All too often, the outcome looks something like this:
I want to make $125,000 in take-home this year, but I have business expenses of $25,000. So, in reality, I need to gross $150,000. My broker takes a 20% fee and my franchise takes 5% on each transaction, so my GCI needs to be $187,500. If my average sale price of homes is $400,000 and the average commission paid is 2.5%, then I need 19 sides, or 10 buyers and 9 sellers.
Your business plan may also include the number of calls you need to make, letters you need to write, blogs you need to post, open houses you need to attend, and so on. While this is all valuable information, it can lead to distraction and fruitless multitasking.
In his book, The ONE Thing: The Surprisingly Simple Truth Behind Extraordinary Results, Gary Keller provides some valuable insight into how you can break out of such unproductive patterns. He suggests that you ask yourself a simple question – “What’s the ONE thing I can do right now, such that by doing it, everything else will be easier or unnecessary?”
For example, the best way to get 19 sides might be to get more listings. When we maintain a listings network with other brokers, we get to meet neighbors, learn more about neighborhoods, and meet new buyers, among other things. So, setting time aside every day to focus solely on listings might be your “one thing.”
Maybe your goal is to be the expired listing expert in your office or your city. Ask yourself – “What’s the ONE thing I can do right now, such that by doing it, everything else will be easier or unnecessary?” – Is it calling expired listings first thing every morning? When you get to work in the morning, take some time to make the calls. Is it door knocking on expired listings? Set aside a block of time to hit the pavement.
There is an old Russian proverb that says, “If you chase two rabbits you will not catch either one.”
If your overall goal is to grow your business, or if you just need a better method for managing all of your buyers, listings, and documents, starting your 14-day free trial of ZipperAgent might be the “one thing” you can do to see extraordinary results in 2017. With rich functionality and an intuitive design, ZipperAgent contains all the Sales and Marketing tools brokers and agents need to stay organized and take advantage of every new opportunity. Go ahead and establish your goals and write up your business plan. Then, every morning when you get into work, ask yourself – “What’s the ONE thing I can do right now?”
Actionable ideas from this book
- Prioritize your to-do lists –To be more productive, accept the fact that not all of the tasks on your to-do list matter equally. Some will provide a greater proportion of your results than others. Prioritize the ones that are likely to contribute most to your success, and then work on the highest-priority tasks first.
- Ask yourself the focusing question at the start of every day –Asking yourself the focusing question – “What’s the ONE thing I can do right now, such that by doing it, everything else will be easier or unnecessary?” – On a regular basis will help to keep you focused on your goal, help you to prioritize your tasks, and simplify your life.
- Stop multitasking –You cannot focus effectively on two or more things at the same time. When we try to multi-task, what we are really doing is switching our focus rapidly between each task over time, which comes at a cost. Multitasking makes us more likely to make mistakes and work less efficiently. Decide what the most important thing in the moment is, and give it your undivided attention.