Not to worry--this is not another post on how you have to work harder to make your goals a reality or why you need to be pounding the pavement knocking on doors looking for real estate leads. Instead, the there are two simple secrets for achieving your goals that have nothing to do with working harder.
Secret #1. Only three percent of all Realtors do this
This tip is so simple, yet virtually no one does it. If your goal is to make a $100,000 this year, look at what your average commission per transaction is. (Take your income from the last 12 months and divide by the number of transactions you did.)
For example, if your average commission per transaction is $4,000 net to you, then you will need 25 closed transactions to hit your goals. That's one closed transaction every two weeks. This means that you must be working with some combination of six sellers and/or buyers every month to hit this goal, assuming you have a 33 percent conversion to close rate.
If you look at the top salespeople who are doing the bulk of the business in real estate, they all have written goals and business plans. If you don’t already have a written set of goals, take immediate steps to create a short list of the income you would like to earn, the number of transactions you will need to close to make that income, and the percentage that will result from listings vs. buyer sales. Also write down the goals you have for vacations, self-care, and spending time with loved ones.
The research from Harvard shows that it's the people who write down their goals and tell others about them who have stellar success.
Secret #2: Visualization
While having written goals is important, written words and numbers on a page are not motivating to your brain. An important key to being successful is identifying how you will use the money you make. For example, many salespeople have decided that they want a certain type of car. Their strategy is to go to the dealership, drive the car, and take their picture in back of the wheel. The next step is to post that picture where they see it constantly.
This strategy works for two important reasons. Visualization is one of the key ways our brains create what happens to us. Psychologists call this “self-fulfilling prophecy.” What we expect to happen actually does happen. If you see yourself driving the car (and remembering what it was like to actually drive it), then you will have anchored that experience in your brain. The part of your brain that recalls the experience has no awareness of whether you own the car or not. It simply recalls the feeling of being behind the wheel of that vehicle. These feelings are what motivate us to take the actions we need to take to achieve success.
The key is to visualize yourself achieving your goals. Spend five minutes a day doing this. In fact, I actually have my personal production goals for our company on a Post-It-Note on my monitor. I look at it every day and each month calculate where we are in terms of achieving those goals. I also have a goal of buying a new car before Thanksgiving and writing a check for it. The picture of the car is next to my computer.
If you're a bit dubious, why not try it? There's lots to gain and absolutely nothing to lose.
Posted by Bernice Ross, This week on RealEstateCoachRadio Carra Riley joins us for five great sessions based upon her book, "Cosmic Shift Happens," co-authored by Joeann Fossland. This is a great series packed with lots of wonderful tips to help your real estate business
These feelings are what motivate us to take the actions we need to take to achieve success..
Thanks for sharing..
Posted by: Edina Realty Short Sale Agents | July 05, 2011 at 03:31 AM