It has been said, that what you “focus on”, expands. I challenge you to write down your Units/GCI goal for 2018 and carry it around with you everywhere (on your phone would be perfect). Choose to review your goals daily, weekly and monthly, and do not allow anything to take you off course.
Make 2018 your year of focus.
Focus on hitting your own goals so that you can get more freedom of time, money, relationships and purpose.
Your 6-Gauge dashboard for 2018:
1) Number of active leads in your “pipeline”.
In my experience, only 1 in 4 serious, motivated, and qualified leads complete a deal every month. People are away, working too hard, or dealing with health and family issues. As a result, only 1/4 of your clients will convert each month. So, if you want to do 3 deals a month, you will need 12 clients to focus on..as 3 buy, just replace with 3 more.
2) Number of Appointments weekly.
Once you have set the number of transactions you must do every month, just set your weekly (or monthly) appointment standard, and stick to it! No appointments, no leads, no contracts…
3) Your core Lead generation activity.
Pick one key area or “niche” and spend 80% of your lead generation time there..Successful agents receive 80% of their business from one core area of their business. Unsuccessful agents, switch lead generation activities after each seminar/webinar they attend (they squirrel!), and lose focus and motivation as soon as they don’t get the “quick-result”. Focus on the long money of real estate in 2018, not the short, despite what your immediate needs may be..
4) Your conversion rates matter.
The better your conversion rates, the fewer appointments that you need! If most of your business currently comes from your sphere of influence and referrals, you should be at a 80-905 conversion rate. If you do cold prospecting, it will be closer to 1-3%. A way to measure your current conversion rates is to simply look back at the number of transactions you did last year, vs. number of leads. If the market shifts in 2018, you will need to double or triple the number of leads you need, in order to close the same number of transactions.
5) The “do I do everything” gauge.
Many of you entered real estate as rugged-individualists, but to thrive in this business you need to spend 80% of your time in your strengths, and leverage your weaknesses. Generalist “I do everything” agents are going the way of the dodo bird. The public does not see the value in generalists. The world prefers when you stay in your unique strengths and abilities, and leverage your weakness to others. Successful business people/agents do one thing really well They also spend 80% of their workday focused on activities, they are excellent at doing.
6) My profit/loss statement.
Review it monthly, by simply subtracting your expenses from your revenue. Hold all of your expenses to account. Deduct 25% from every commission cheque and put it away for your taxes. …and finally, set up a separate bank account and credit card for your real estate business. It is a simple and easy way to track revenue and expenses…remember the C.R.A or I.R.S loves to audit realtors. Join me next week via zoom video live as we talk about the 6 gauges..
Glenn McQueenie is inviting you to a scheduled Zoom meeting.
Topic: The 6 gauges to watch in 2018Time: Jan 10, 2018 10:00 AM Eastern Time (US and Canada)
Join from PC, Mac, Linux, iOS or Android: https://zoom.us/j/5092685733
Or iPhone one-tap : US: +16699006833, ,5092685733 # or +16468769923, 5092685733#
Or Telephone: Dial(for higher quality, dial a number based on your current location): US: +1 669 900 6833 or +1 646 876 9923 Canada: +1 647 558 0588 Meeting ID: 509 268 5733 International numbers available: https://zoom.us/zoomconference?m=y65D-9m7pp09NRuxzRHec03Ja5cqdVFx
Here’s to an awesome and profitable 2018!