Develop Your Vision, Strategy and Plan to Achieve a 7-Figure-Plus Income
If you have a team and aspire to build and develop your team model with income earnings of over seven figures, you will want to shift your mindset to one of “boiling the ocean.”
Do you think big enough? Do you know you are capable of achieving more? Do you have the right people (sales and support members) on your bus? Do you have the right systems in place that will give your team the structure and support to achieve the massive growth you are looking for? Are you equipped with a vision and a strategy with an action plan to execute on purpose?
I have coached thousands of agents over the years, and many of them have had goals to break seven figure earnings. This is an absolute wild and amazingly incredible goal, and it’s 100% achievable. And the fact is, anyone can make this a reality with the right vision, strategy and plan. It mostly comes down to proper development of your strategy and then fierce, unwavering execution.
There are proven strategies to help you define your vision, strategy and plan for achieving seven figure-plus income as you grow your team. But first you need to ask yourself: What type of team do you envision or want to grow? There are many ways to build your business as a team—a primary lead agent with a support team, a partner team, a rainmaker team or a mega team leader.
So first start with these five steps to help you on your way to amazing financial reward and the best life ever.
- Know your ‘why.’ There are many reasons that agents desire to achieve an income north of seven figures, and they are all different, ranging from personal satisfaction and the desire to achieve for achievement’s sake, to other financially driven reasons such as paying for college, paying off debt, paying for a new or second home, building wealth, and/or charitable causes. It’s vitally important to know your personal driver—your ‘why.’ When you identify this and know this, it will drive your passion to achieve the results you desire.
- Write a vision. Where do you see your real estate business one, three and five years from now? Start now to envision what type of business you want. Is this a pivotal moment where you have to decide how you want to run your business? A team, partnership or solo agent with support? All are okay. It’s totally your call—you get to decide. But you need to have a vision of how many listings and monthly sales you need to reach your income goals.
- Leverage your time and hire support. Whether you have an assistant already (or even two), or you haven’t hired anyone yet, you are only going to scale your business by leveraging your time. All administrative work must be delegated to a virtual or in-person assistant or business manager. Your focus should be on the highest dollar-producing activities that bring your more listings, sales or team members. You must off-load the administrative tasks and free up that time so you can either go on more appointments or you can use that time for more personal work/life balance.
- Increase your average sales price and units. You can strategically increase your average sales price by creating a plan and then executing it to achieve the results. What is your current average sales price now versus what the average sales price is in your market? Develop a plan to go after the higher valued neighborhoods and increase your average listings and sales, which will automatically increase your average income per sale. When you systematically and strategically implement a plan of action to drive your average sales price up, you will be increasing your income and giving yourself a raise.
- Evaluate the performance of your team. Are your team members converting the leads you provide them? Are they generating and contributing additional listings, sales and income to your team? Are they held accountable, and do they literally show up with passion and action? If not, you may need to reevaluate their role on your team. Set expectations with them to help them achieve their own personal goals and, in doing so, they will be contributing to your bottom line as a high-producing team member adding value.
There are many more strategies that need to be implemented to help you reach and break seven figures and will create the success you want and deserve. Get your mindset in the capacity to think bigger—envision the success of doing twice as many transactions and making the leap to seven figures-plus!
When you want to take your business to a dramatic increased level, hiring a real estate coach can be the single best decision you make. The return on investment of hiring a coach is that you will experience accelerated and immediate results. Your business will increase by several hundreds of thousands of dollars annually, resulting in increased market share and revenue for you. Taking the next step may seem daunting, and even impossible, but having a qualified real estate strategy coach assist you will save you time and money and get your there faster.
Schedule your 30-minute free strategy call here to find out how Sherri Johnson Coaching can change your life and grow your team.
To request Sherri’s FREE webinar recording on how to build a GoldMine PipelineTM of business for consistent, predictable monthly income, click here.
Sherri Johnson is CEO and founder of Sherri Johnson Coaching & Consulting. With 25 years of experience in real estate as an agent, broker and executive, Johnson now shares her proven methods through coaching, consulting and keynote speaking services nationwide. She is a national speaker for the Homes.com Secrets of Top Selling Agents tour and is the Official Real Estate Coach for McKissock Learning and Real Estate Express. Johnson has also been named an RISMedia Real Estate Newsmaker in 2020 and 2021 as an Influencer and Thought Leader. Schedule a free 30-minute coaching strategy session or visit www.sherrijohnson.com for more information.
