The real estate industry has undergone massive changes and disruptions in recent years, and we’re certainly going through our fair share given the fallout from the recent National Association of REALTORS® lawsuit verdict and surrounding settlements.
This got me thinking about how business planning may have to change as well, as the idea of planning a year in advance at a time when we have to be most agile and adaptable just doesn’t make sense. Besides, do you know when most agents look at the business plan they write up in December or January? The next December or January when they’re writing a new one because it seems like the “right thing to do.”
That’s why I want to talk about sprint goals.
Sprint goals involve breaking down your long-term objectives into shorter, manageable increments. That’s a game-changer, especially when we’re dealing with so much change. Instead of setting a yearly production target and sticking to it no matter what, consider quarterly or even monthly goals that allow for course correction and real-time adjustments. This works because for a lot of people, annual goals can feel too overwhelming, and even defeating.
Here are the highlights:
- Know your numbers
Know your numbers inside and out: how many people you call, number of appointments, number of leads, conversions, revenue, expenses and more. Sprint goals enable you to monitor your progress more frequently, so rather than waiting until the end of the year to assess your performance, you can make timely changes based on where you are in real-time. For example, if your production is off track this month, carve out time for more prospecting.
- Flexibility in planning
Market conditions, client preferences and tech advancements can shift rapidly, sometimes leaving your year-long plan obsolete early. Sprint goals allow you to stay nimble, so if you notice a particular marketing tactic isn’t working, a new opportunity arises or new real estate laws come into effect, you can pivot.
- Motivational charts: your guiding light
Create a visual representation of your goals and track your daily or weekly activities. This can include the number of client meetings, follow-up calls, networking events attended or any other relevant activities.
Here’s how to create an effective motivational chart:
Clearly define your sprint goals, both in terms of quantity (e.g., number of listings, sales, leads) and specific actions (e.g., prospecting calls, property viewings).
Break these goals down into daily or weekly activities.
Create a visually appealing chart/spreadsheet to track your progress.
Display your chart in a prominent place in your workspace.
While an overarching marketing and business plan for the year is valuable, it may not be doable right now. Better to be agile, connected to what needs to change and focused on the month-to-month rather than what target you’ll hit by the end of next year. RE
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