Set Your Goals For Next Year

in Real Estate Training | 0 comments

Goal Setting for Real Estate Agents

I’m not going to comment a lot about this set of formulas for setting your real estate goals for the year.  This is meant as a simple exercise.  So fill in your numbers and let’s get started making next year your best year yet!

(A) Real Estate Goal Income $_______________ (Gross to You Before Taxes)

(B) Your Split with Your Broker _______%  

(C) Gross Closed Commissions (after franchise fee) $ __________________ (A/B)

(D) Franchise Fees (if any) ______% (if none, then write total from line C on line E)

(E) Gross Closed Commissions (before franchise fee) $__________________(C/D)  (THIS IS YOUR GOAL)

(F) Your Average Sales Price $________________ (not your market’s but YOURS based on past sales*)

(G) Your Average Commission Rate ________% (not your market’s but YOURS based on past sales*)

(H) Your Average Gross Commission $____________________ 

(I) Number of Transactions Goal ____________  (E/H)

(J) What percentage of the deals you write don’t go through each year? _________%

(K) Number of offers written/received goal ___________ (I/J)

(L) How many appointments do you need to go on to get one client?  __________

(M) Total Appointments Needed ____________ (K*L)

 


 

 

If You Call Past Clients and Friends/Acquaintances for Business

(N) Total Calls to Make _____________ (M*11)

(When you call people who know and trust you already, statistically you’ll get a lead on 1 out of every 11 calls.)

If You Do Warm Lead Generation (Open houses, FSBOs, Expireds, etc.)

(O) Total Calls to Make _____________ (M*25)

(When you call people who you already know are interested in real estate, statistically you’ll get a lead on 1 out of every 25 calls.)

If You Do Cold Lead Generation (Internet leads, cold calling, etc.)

(P) Total Calls to Make _____________ (M*100)

(When you cold-call, statistically you’ll get a lead on 1 out of every 100 calls.  And while, yes, internet leads are technically warm, they are so hard to convert, that they get a cold-call return rate.)

 


 

 

Calls Per Week

(Q) Number of Weeks You Work In A Year ___________

(R) Number of Calls/Contacts You Need To Make Per Week ____________  (N,O, or P/Q)

 

*If you are a brand new agent, then work from the statistics for the market for your first year.

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