Of all the posts published throughout the year, today’s Thoughts on Leadership might be the most directly tied to how your next quarter (and next year) will play out in business. Saturday is October 1, which means we’re done with the third quarter and into the final 90 days of the year. Why is this so significant? Because for real estate, October 1 marks the start of the New Year–well, the Real Estate New Year. (Get out your sparkly hats and streamers–it’s time to celebrate 2023!)
In real estate, we operate on a 90-day cycle. All the prospecting, lead generation, planning and marketing we do now is going to pay off three months from now. It’s precisely why our new year doesn’t start when the clock strikes midnight and January 1 arrives. Our new year begins Saturday.
There’s something else to keep in mind as we ring in the Real Estate New Year: This is when your 2023 business planning must begin. (You can download the Business Planning Essentials here.)
Having a solid business plan will keep you from the dreaded Q1 slump. Each year, when Q4–and the holidays–roll around, with all their sugar cookie, holiday-party reverie, people tend to get off schedule. But if you skip ahead 90 days from the holiday-themed celebrations, you’ll get to Q1, which is exactly where most real estate agents see the lag from a slower holiday season.
During my 30+ years in real estate – as an agent, manager, and owner of a company–I’ve found there’s always a cash flow problem in the months of January and February. This applies to agents as much as it applies to brokerage owners.
A business plan allows you to plan for what’s ahead and avoid that problem. It ensures the busy holiday season won’t stop your momentum in 2023. At a minimum this weekend, schedule out every day for the remainder of the year, including every single day off, and every day you’ll work for the rest of 2022. And make sure on those days you work, you work. On your workdays, follow your schedule, do your prospecting, and complete every task that will drive business for you in the first quarter of 2023. As a challenge, after you’ve completed scheduling out the rest of 2022, post a picture of yourself filling out your schedule this weekend and tag me on Facebook or Instagram, so I know you’ve finished it. Hey, that’s a little accountability!
You should also complete your schedule for 2023. The first things to schedule are the most important business meetings you can’t miss. Knowing when these happen allows you to plan for your days off, so you’re not taking time off during those critical meetings. The next thing to do before you schedule anything else is to put in whatever gives you balance, like vacations and days off. This ensures you take the necessary time to recharge, and that you won’t schedule meetings on your days off. Once you’ve done all that, stick to your schedule! Never make a commitment with your time without checking your schedule first.
So, what’s the message? Consider this post your reminder to begin your business plan now, so you can start the Real Estate New Year planning for a 2023–and a future–that’s shiny and bright.
This article is adapted from Blefari’s weekly, company-wide “Thoughts on Leadership” column from HomeServices of America.