To Review or not to Review: That is the Question

To REVIEW, or not to REVIEW: that is the QUESTION

Can you believe the first half of 2011 is over? Have you asked yourself what happened and where did the time go? In talking with Real Estate Professionals these last few weeks the typical response I am getting is “WOW, school starts in a few weeks” to “OH MY, the holidays are right around the corner”.  Are you wondering where the time has gone? Are you curious or concerned what your business will look like over the next 6 months? If you answered “Yes” then I am recommending you take a quick break and review what you have done these last 6 months and make a plan to take control of the next 6 months. Here are my TOP 5 midyear business review strategies.CB Bain and CB Seal Biz Review

  1. Review the first 6 months. You should know your personal production in closed units, volume and income. Write these down and ask yourself “Am I behind”, “Am I ahead” or “Am I in a slump”.  Write down your pending sales and then do the math. How many closed units do you need between today and the end of the year to meet your goals?
  2. Review your inventory. List your current sellers, current list price and ranking based on their motivation and capacity and finally if any price reductions are needed. Are you working with motivated buyers? Categorize your buyers into 3 groups – 30, 60 and 90 days. If you have any buyers longer than that then time to find some new buyers to add to your inventory.
  3. Review your business generating activities. What have been your Top 3 sources of business this year (SOI, FSBOs, Open Houses, etc.)? What is the total number of people in your sphere of influence (including past clients, friends and relatives)? How many times did you contact your SOI this year specifically to ask for referrals?
  4. Review what have been your most successful business generating activities in the first half of the year. Make a plan to continue, increase or add those activities to your daily/weekly/monthly business plan.
  5. Review and write down your primary goals for the second half of 2011. Next, list the key activities you will need to do to achieve those goals and what steps you will need to take immediately. Finally, what skills do you need to improve on to achieve your goals?

By following and applying these 5 midyear business review strategies you will be laying a foundation for a busy and prosperous 3rd and 4th quarter of 2011.

 

 

6 Goal Setting and Business Generating tips for 2011

Reaching your Goals in 2011

Reaching Your GoalsThe first quarter of 2011 has officially passed and you are probably asking yourself where did the time go? The observation to make now is am I on track to achieve my goals or am I behind? If you are currently on track to meet your goals then congratulations on your success. If you are behind there is still time to regroup and charge forward.

Here are 6 goal setting and business generating suggestions to help you take charge of your business and move forward through 2011.

  1. Schedule – Do you have prospecting time scheduled? If you do not then time will pass you quickly and you have not had the chance to talk to new prospects. Schedule time first thing in the morning before you get distracted by the typical industry distractions.
  2. Goals – Set reachable goals. Number of appointments, calls or lunches
  3. Write your goals down – just the process of writing your goals down will subconsciously help you conduct business generating activities
  4. Tell someone about your goals – Once you announce your goals it is public knowledge and you may just have to do the necessary behaviors to achieve them
  5. Sphere of influence – Real Estate is a contact sport. When was the last time you had coffee or lunch with your most prized clients. Book 3 coffee or lunch appointments a week over the next 3 months and you will generate referrals
  6. Market Statistics – Do you know the Top 3? You should always know day’s one market, average sales price and absorption rate. Knowing your market statistics will quickly lend you credibility when asked “How is the market”?

6 Tips for reaching your goalsWhether you are on track to meet your goals or behind you will find that getting back to the basics of goal setting and the act of meeting with clients will help assure a successful 2011 and beyond. It may seem difficult to get the momentum started again but little to big successes will help you get back into the groove. As soon as you experience those little to big accomplishments don’t stop but keep pressing forward and 2011 will be your year of achievement.

 

Visit:  CBBain.com (Washington) or CB Seal.com (Oregon) to search for homes, find an office or to find a broker.

When it’s okay to say the A word!

When it’s Ok to say the A Word! That’s right…Accountability! Today’s Real Estate Professional needs an accountability partner more than ever before. There are fewer transactions, tougher transactions and wary consumers. Why not have a partner that will look out for your best interests.CB Seal Broker Partnership Personal business coaching is the key to an agents success in good times and bad. Weekly, Bi-Weekly and Monthly sessions will help the real estate professional stay on track. Here are 6 key reasons to engage a business coach.

1. They take a personal interest in your success You have heard it said many times that success breeds success. Your coach is only as successful as his customer.

2. Measurable Progress The best coaches will use some form of a tracking sheet or software program. This allows both you and the coach to track the number of contacts, appointments and contracts on a weekly, bi-weekly or monthly basis. This is very helpful to stay on task and not miss an opportunity to convert that new client to a sales contract.

3. Push the restart button Did your business stall out this year? Did you hit a slump? Working with a coach helps you stay on track and focus on the key business generating and sales activities that assures you success.

4. “If you fail to plan, plan to fail” We have all heard this one before, midyear business review and of course annual business planning sets the foundation from which to work on and strive for over the next year.

5. Outside looking in Sometimes we get caught up in the drama and stress of a transaction. It helps for your coach to be able to look over Brian Houston glassesevery aspect of your business and guide your energy in the right direction.

6. Subconscious Accountability If you know your coach is going to ask you how you are tracking on your goals and objective you are more likely to  achieve them knowing subconsciously that you have to report back to him on your performance status.

Brian Houston is the Principal Managing Broker for Coldwell Banker Seal Properties – Uptown Branch Portland, Oregon. Brian meets with his agents weekly, bi-weekly or monthly helping them to meet or exceed their business goals. These coaching sessions are free to his agents and are a valuable tool to the success of his office