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Next Year Is Here, Are You Ready For 2021?

Posted By Paul Xumsai on January 05, 2021 in Career

I’ve often said that to predict the future, you need to look at the past. In real estate, it’s much the same. Conducting an annual review is a great way of achieving success in the up and coming year.

Real estate is your business. And like every business or corporation, you need a plan. Look at all the elements of your past year and create a business plan for moving forward. 

To begin, let’s look at these three key areas:

SET YOUR GOALS 

You should always have a plan for your real estate business. How will you generate income? Who are your target customers? Where will they come from?

These are all good questions and ones that must be answered.

Work on setting realistic goals. But also challenge yourself to reach for the stars. Make sure your goals are measurable. Review your plan every month.

Sample goals: 

  • 5 listing appointments every month
  • 2 closings every month
  • $100,000 annual income

REVIEW YOUR BUSINESS PROCESS

What are you doing to achieve your goals? Do you thoroughly know the art of making sale? Now is the time to executive the plan. When at all possible, automate your marketing. If postcard marketing works for you, hire a marketing company to handle this task. Your time should be spent converting leads.

Review what works and eliminate what does not.

REVIEW YOUR FINANCES REGULARLY

Because of the global pandemic, many of us had to dig into our financial reserves to make ends meet and stay afloat. With the second wave emerging around the world, 2021 looks to be a time of uncertainty as well. For this reason, you should do a financial audit of last year’s spending to see what works for you. Where does your spending generate the most income? You should review your financials on a monthly basis and track your progress.

 

 

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