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The 1st Quarter of 2006 is gone. How did you do? If you don't know, here's what you need to do: today, either take the time to work on this or put a time on your calendar this week to take a look. When you created your business plan for 2006 (if you haven't done this yet-you should order my Awesome Year Plan), you created some strategies based partly on last year's results. Much has changed in many parts of the country since 2005. Re-strategizing regularly can get you to your goal.
Here are some suggestions to leverage your results in this area:
1. WHERE ARE YOU? In looking at your 1st Quarter figures, are you on target, behind or ahead? Is your average price per unit where you projected it to be? What do you have in the pipeline for next quarter?
2. WHAT'S WORKING? Where has each transaction come from this year? Are these results in line with your strategies or unexpected?
3. WHAT'S NOT WORKING? Did your plan and strategies project results from sources that have not come to fruition? Are you getting fewer responses to your advertising and/or marketing?
4. WHAT HAS CHANGED? Review the MLS stats for the 1st Quarter of the year. Compare to the 1st Quarter of 2005. What do these numbers tell you about who is buying and what is selling? In our Tucson market, inventory is up over 120% (3000 last year vs. 7300 this year) however the number of closed units has continued at near record levels. What is happening in these two areas in your market?
5. ARE YOUR STRATEGIES ALIGNED WITH THE CURRENT REALITY? Are there some new strategies you should implement? Perhaps, shifting the focus from listings to buyers? Or holding open houses once again? What changes in the market are an opportunity for your strengths?
6. REVIEW what is and isn't working with your marketing plan and budget. Determine if your marketing plan is still on target bringing you the prospects you need. It is a good idea to spend more where you are getting results and less (or none) where you are not getting results.
7. WHAT'S NEW? Is there new technology, systems or tools that will give you better results? A quarterly review of what the competition is doing is also useful. Only spend money here if it makes sense with marketplace changes and the strategies you see that are now the best ones.
I believe you should spend a half day each quarter asking yourself these questions and redefining your business. Otherwise, your plan is just a wish and you're leaving it to luck whether you can attain the goal you want. You have 75% of the year left to play your best Game! | 
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