Use this real estate team goal setting template for both leaders of real estate brokerages and teams to plan out the entire organization's goals for the upcoming year in advance.
This real estate team goal setting template will be HUGE for your team or brokerage. Be sure to make it all the way to the end of this blog, because we are giving you a free download of our famous 1-3-5 Business Plan for Broker Owners. You can use this sample as a great reference point as you create your own.
When we talk about a viral goal and how to make a viral goal spread to the team through real estate team goal setting, the intent is for the goal to permeate the entire team.
When choosing a goal, you want to choose a goal that will impact everyone. It’s important that you understand that compensation is a factor that will impact everybody. Money is a huge motivator.
VIDEO: Real Estate Team Goal Setting Template
Real estate team goal setting: money matters
Consider a few factors that create an opportunity for more money:
- Increased sales
- Increased agent count
- Increased market share
- Increased listings
- Increased GCI
Realize that for the non-agents at your team or brokerage, these things don’t necessarily mean more money. Your admin staff may feel left out because they aren’t compensated in the same way as a sales agent. They don’t get to enjoy the direct correlation between more work and more commission. So you need to explain it in a different way to them. “Once our team grows, I will be able to give you a raise,” etc.
There is a certain percentage of your expenses that should be allocated toward administrative staff. This holds true whether you are a broker owner, a team leader, or a solo agent. No matter what, you should have dedicated expenses set aside for administrative duties.
The bigger your brokerage or team, the larger the percentage of expenses that you should allocate toward your administrative work. In theory, the more you sell and the more you grow, the more money you will have to pay your administrative staff.
Other motivators to consider with real estate team goal setting
Money is a big motivator, so don’t overlook it. However, it’s not the only motivator. As you work on real estate team goal setting, it is important to consider how the goal of money can impact other motivators.
Another big motivator is life balance. As you grow and as your budget grows, you may be able to add new team members to help take some of the workload off your plate. This will buy you a better work/life balance. You can start to create more leadership opportunities, too. The more you grow, the more income you have, the more people you can hire (and lead).
Growth can mean:
The 1-3-5 Business Plan & real estate team goal setting
Make sure your viral goal permeates the team and touches each person, so everyone is bought-in to this growth goal. One highly effective way that you codify your goals is through the 1-3-5 Single Page Business Plan format.
Towards the end of the year, usually around Halloween or Thanksgiving, you should begin to meet and talk about your 1-3-5 Business Plan.
Let’s take a look at what a Broker Owner’s version of the 1-3-5 Business Plan might look like. (This is the same format that you’ll see with any of our 1-3-5 Single Page Business Plans.)
- 1 big goal at the top
- 3 key focus areas
- 5 objectives for each of the 3 key focus areas
1 big goal
We talked already about how to set this 1 big goal. It needs to be viral and it needs to be SMART (Specific, Measurable, Achievable, Relevant, and Time-Bound). In this example, we see that the 1 big goal is the total GCI.
3 key focus areas
These are the 3 things that will help you get to that 1 big goal. They need to be in direct alignment with the 1 big goal. Almost every brokerage and team should have “recruiting” and “retention” as two of their three key focus areas. The third key focus area is your wild card – you can go in a number of directions. Operating systems, team culture, career growth, expansion, etc.
The objectives that follow each key focus area need to be actionable items that are in direct alignment with the key focus area.
The example provided in this video is our FREE DOWNLOAD today. (Scroll down!)
Create a production-centric environment
Once you create your own 1-3-5 Business Plan as the broker owner or team leader of your organization, you can then help your agents to succeed by involving them in this plan. This is an integral part of real estate team goal setting.
The 1-3-5 format not only makes it simple for you to create, but it also helps it go viral at your brokerage or team.
You can see how it starts with the big goal at top before permeating down to all of the key focus areas and activities that are required. These various activities are usually performed by particular members of your organization.
Suddenly, you will see more buy-in because each person sees their part in reaching the 1 big goal at the top.
This is why creating a viral goal works.
Oftentimes, goal setting is hard, because it’s hard to get everyone at your organization on board with reaching that goal. Real estate team goal setting is hard! But, when you make your goal viral and connected to all of the activities that must be done to achieve that goal and assign those roles to your people, you will see the connection begin to form.
Suddenly, everyone will begin to care about reaching your 1 big organizational goal because they can see the impact they have, as well as the benefit they will receive once they do their part in reaching that goal.
FREE DOWNLOAD: 1-3-5 Business Plan for Broker Owners
Today’s subscribers will receive a free download of our sample 1-3-5 Business Plan for Broker Owners. Use it to help you as you work on real estate team goal setting for your team or brokerage.