Is your GPS Set for 2011?
Recently, I was in beautiful, historic South Carolina to do a three-day management symposium. Having gotten lost in the past more times than I’d like to admit, I ordered a GPS included in my rental car. But, being somewhat of a control freak, I don’t want to rely JUST on a GPS to tell me where to go. I want to know the why, and I want to know the general layout of the land.
How about you? Do you have your “business” GPS set for 2011? Do you know where you’re going? Or, are you relying on your company, some guru, the market, or just dumb luck to get you a great 2011? (that’s like relying on a GPS to be your brain….)
Here are three best tips to get that business GPS set so you have the kind of 2011 you want to have.
1. Decide on your Best Vehicles for YOU
Unfortunately, too many of us rely on someone else’s business plan. Then, when it doesn’t work, we don’t have the knowledge, the background, and the information to make adjustments. Same thing with the GPS. To get that GPS to work for you, you have to set your destination. Unfortunately, as I was traveling last week, I put my destination into the GPS—and the GPS didn’t recognize it! That meant I had to go back to the old brain and think things out. Knowing the why behind your choices is key to get on track and make adjustments as needed.
What are your best vehicles? So many agents are running toward short sales and foreclosures. Yet, a recent survey of California buyers showed that buyers didn’t think agents knew enough about those types of properties. Why? I think it was because agents try to chase someone else’s business plan. Instead, figure out
- what were your best sources of business in the past
- do you have enough of them to support your next year’s business
If not, you’ll have to work another source of business, too. One of the major mistakes agents make is to depend on a source of business that doesn’t have a large enough client base to sustain them. How many potential clients do you need to reach your goals? Find out.
2. Work those vehicles like you were going to become that next mega-agent
My husband just showed me a new GPS that has lots of bells and whistles, and is very reasonably priced. Have you noticed that products have to be getting better all the time, or they fall by the wayside? It’s the same with real estate agents. In truth, most of us give up way before we should. Statistics show that clients take 9-16 months now to make a ‘buying’ decision. Yet, 50% of agents are out of the business in their first year, and 75% are out by the end of two years. In other words, the majority of agents gave up prior to getting the pay-offs they worked for.
What does ‘work’ mean? That means you have to work this market—not the one from 2007! Lead generate 2 hours a day 5 days a week. It’s not a ‘mediocre agent succeeds’ kind of business anymore. The consumer is tired of it, managers should not tolerate it, and you deserve more than just surviving!
3. Build in goals and measurement tools—and use them
A GPS is no good if we don’t follow it! The same is true of your business plan. If you don’t build in measureable goals—along with ways to measure progress, that business plan is worse than useless.
For more information on business planning systems for agents and leadership, see www.carlacross.com.
Carla Cross, CRB, MA, is an international speaker, writer, and coach, specializing in real estate management. A National Realtor Educator of the Year, Carla was recently named one of the 50 most influential women in real estate. Join her newsletter community, and receive Carla’s new eBook, Getting to Yes: Ten Tools to Remove Barriers to a Decision. Click here. Contact Carla at 425-392-6914 or http://www.carlacross.com.
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