Welcome to 2020! New Year, New Career? Laura Kelly Mance CRB, REALTOR® / President Long Realty 900 E River Rd Tucson, Arizona 85718 LMance@LongRealty.com For some of you, real estate is to be your new career and you’re in pre-licensing education. Others may be pursuing new designations or specializing within the field of real estate. Or maybe you’re like I was after a half dozen years in the business. I knew enough to know it wasn’t easy but it gave me the flexibility I needed to prioritize family and the possibilities were endless. That’s about when I said “new year, new career” and reinvented my real estate business. If that’s you, I’m talking to you now. Have you heard the expression “reverse engineering” when it comes to business planning? It’s when you establish a goal, determine where you are right now, and then make a plan to get from where you are to where you want to be. That sounds pretty esoteric so let me break it down. Let’s say your income goal is $70,000. And your current average sales price (ASP) is $250,000. If your commission split is 80/20 it will take you 12 transactions to hit that goal. Now, you look at your business during the past year and see how many transactions you had and where they came from. In this scenario we’ll say you had 7 closings, 4 came from your friends and relatives 2 from open houses and 1 was a floor call. You just have to find 5 more transactions to reach your income goal. If you had a few open houses a month last year, you might consider doubling them to double the results. If you only contacted your circle of influence a few times, add phone calls, housing reports, sports schedules or maybe newsletters to that and you’ll more than double the results. It shouldn’t be difficult to find 5 more units and reach your goal. This is also a good time to self-evaluate. What am I good at and where do I feel less prepared? Check the Frontrunner today for classes that will help you fine tune skills and be an even better REALTOR®. You might consider getting your ABR or perhaps the SRES. Maybe this is the year you go for your Associate Brokers license. Now that you’ve reverse engineered a business plan take another look and come up with a stretch goal. 3 more transactions will actually get you to $100,000. Imagine looking back this time next year knowing that you positively impacted the lives of at least 17 people and because you were a well prepared practitioner, every one of them will send you their referrals because you took such good care of them. So, whether this is a new year, new career or you’re simply bringing it up a notch, start now and plan for success. ♦ 13 © 2019 Hogan School of Real Estate Sept/Oct 2019
14 Publizr Home