Use this Realtor goal setting system and format to help real estate agents plan out and set all of their business generation goals for the upcoming year in advance.
This Realtor goal setting worksheet will absolutely change the way you set goals for your real estate business. Today I’m going to talk about how to use this system and subscribers can download a free copy of our ICC Business Tracker.
VIDEO: The Realtor Goal Setting Worksheet
Realtor goal setting: what is a viral goal?
Viral goals permeate the entire organization. This is the only way to make an organizational goal actually matter to all of the people involved in the organization.
This works for solo agents all the way up to brokerage owners. This fits almost every business and industry out there.
Why most goals don’t work
The leader of any organization has big goals and ideas. “I want us to accomplish X,” or “I want us to go to Y,” or “I want us to become Z.”
“We’re going to increase sales from 20 million to 50 million.”
Most agents who work for a leader with this kind of goal feel overwhelmed from the get-go. “Oh, wow, that’s a big goal. That means a lot of work for me.”
That’s the first thing an agent will think. They’re not bought in. They realize that any type of increased goal means more work for them, and that’s a bad deal. It’s not a good goal for them because it means less time with their families, more stress, etc. That’s why most goals don’t work for leaders within an organization.
Agents and leaders are often not on the same page when it comes to Realtor goal setting. And for this reason, any big goals and ideas the leader has will not work.
This is why an organization’s goal must be viral. Everyone must be bought-in. It needs to matter to every single person involved in the organization.
How to create a viral goal with Realtor goal setting
A virus is usually not a positive thing. In fact, at the time of publication for one of my latest best-selling books, The High-Performing Real Estate Team, I was advised to not use the term “viral” because we were in the midst of the Covid-19 pandemic.
Viruses are usually harmful. But let’s look at the most positive attribute of a virus.
Viruses have an uncanny ability to spread, and spread quickly.
This is what you want your big goal to do throughout your organization. You want it to spread like a virus. This is what it means to have a viral goal.
As a leader, when a goal goes viral through your organization, you get buy-in from your agents. They “get it” and they feel like the goal is their personal goal, too.
As an agent, you feel like the organization wants what is best for you and that big organizational goal will get you there.
Understanding motivation when it comes to Realtor goal setting
It’s very important to understand what will motivate your people.
Real estate agents at an organization will make more money based on selling more because they are paid on commission. This makes Realtor goal setting easy in a sense, because as the organization grows, their paycheck should grow, too.
Even if you are a solo agent and you need to get your spouse bought-in on a goal for your business, you can convince them by helping them understand that the goal will help you achieve more income and, hopefully, a better work-life balance as well.
The more you sell and the more you grow, the more it benefits everyone in your brokerage, your team, and your vendors.
Getting everyone on board is key. And you can motivate your people by showing that by doing the difficult X, Y, and Z activities, they can expect to reap the benefits that will come from that organizational growth.
In order to get the benefits that will come with accomplishing the big goal, work must be done. Responsibilities may increase. Difficult tasks will need to be accomplished.
Opportunities come from growth
It’s very hard to carve out increased compensation without growth. But if you can grow, you can create more opportunities.
You must be clear about the different opportunities and possibilities in order to make a goal viral in your organization. Your people need to see and believe these opportunities and possibilities in order to be motivated.
Realtor goal setting: your viral goal must be SMART
A SMART goal is:
You can’t have a goal that is vague, like “improve company culture.” There is no real way to ensure that this goal is achieved, and you may feel this goal is accomplished while others may disagree.
Making your goal measurable will help ensure that it is specific. There is no metric for improving company culture. You need to pick a goal associated with a number. That will help you measure your success or failure. Example: Gross Commission Income (GCI), Net Profit, Units Closed, Market Share, Agent Count, etc.
Don’t be unrealistic. Can you really get there? If you choose a goal that is too lofty, you are setting yourself (and your people) up for disappointment and ultimately failure. A goal should be reasonable for you and the size of your organization. If the goal is too big, you will get way behind on reaching that goal quickly, which will make the goal meaningless, and instead of serving to motivate your people, it will become a source of discouragement.
If your goal is to grow a brokerage to 300 agents, that’s great, but if it’s a whole bunch of low producing agents who are part time, looking for $100 transaction fees and 100% splits, is that really relevant to your real goal, which is to have a profitable business? Make sure your viral goal is in alignment with your career goals and your life goals.
I like to see organizational goals be broken down one year at a time at the longest. If it’s a 5-year goal, chasing it for 5 years gets old. It’s nice to have some closure at the end of the year and reboot each January. That way you don’t get super behind and you have the gratification and motivation to push through each year with some sense of accomplishment.
ICC Business Tracker for easy & effective Realtor goal setting
This is an amazing tool that is going to help you create SMART goals. You can download it for free by subscribing to our blog today, below.
Anything shaded in blue is editable. If you fill in those cells, it will auto populate the remaining cells and make calculations for you.
The video that goes along with this blog will walk you through the ICC Business Tracker in greater detail. And, I’ll show you an example, so you can see how the numbers add up and how you can use those numbers to create a SMART, viral goal.
FREE DOWNLOAD: The ICC Business Tracker
This ICC system is next level, and within the video of this blog, I walked you through exactly how you can use it to create SMART and viral goals for your organization. Subscribe to our blog today for a free download of this incredibly useful asset!