7 Key Steps to Review and Reassess Your 2023 Real Estate Business
Win the market with our Do It N.O.W. campaign. This turn-key, marketing campaign will help you find and secure listings for the changing 2024 real estate market. Avoid the chaos and serve the listing every time. Outperform the competition and build long-term business.
It’s essential for real estate agents and team leaders to periodically review and reassess their goals and performance. Follow these steps to evaluate your progress as you finish 2023 and gauge what you need for a strong 2024 and beyond.
1. Gather and Review Data and Metrics
First, gather all your relevant data and metrics from the past year. This includes your earlier business plan and goals, profit and loss statements, individual team members’ sales figures and any other key performance indicators (KPIs) specific to your business.
Plan a time where you can review these with your real estate coach or financial professional to assess how you did and identify areas to strengthen.
2. Reflect on Your Goals
Review the goals you set at the beginning of the year. Are they specific, measurable, achievable, relevant, and time-bound (SMART goals)? Were they big enough? Did they challenge you? Your real estate coach can help you assess this area and offer suggestions.
3. Create an Action Plan
After your analysis of your metrics, create an action plan with specific steps that will help you move forward toward your goals. Review your current team structure. Do you need an assistant or another agent to help you manage your leads? Perhaps the gap is in marketing. You may be wise to outsource this important element of your business if it’s not your strong suit. Remember, not everyone is great at everything. A wise businessperson knows when to hand a task off so that they can excel at their strengths.
4. Review Your Database
Have you been neglecting to keep your database up to date? This is a critical component of your business that lets you keep track of all your client interactions, including transactions and touches. If you are not using a customer relationship management system, this is a great time to invest in one. Seek out one that is easy to use and will allow you to see when and how to contact your most important clients and prospects.
5. Market Trends
In a market that is constantly shifting — and is still projected to do so in 2024 — it’s vital that you stay up to date on current trends. With clients themselves overwhelmed by media reports, it’s so important that you have access to trusted, up-to-date, reliable sources so that you can then provide valid data and insights to your clients.
6. Celebrate Your Achievements
Don’t forget to celebrate your achievements too! Even if you didn’t hit every milestone you wanted to, you still made it this far in an industry that has seen more than its share of ups and downs over the past few years. You’re still here and you’re taking strong, strategic steps to prepare for the future. And that is something to celebrate!
7. Sign Up Now for Support for the Future
The market in 2024 will still have challenges, but don’t worry — we’ve got you! The most important step you can take to set yourself up for success is not to go it alone. A seasoned real estate coach, who has been in the business for many years, through every type of market, is an asset that will help you through stormy seas. They will offer guidance, advice and keep you accountable. You will quickly find that their input will not only change your business, but also your life. You’ll say “no” to chaos and have an exciting and thriving business while earning an average of $460,000 a year. You’ll have quality time to spend with the people you love while doing the things you want to. Doesn’t that sound like a great goal for 2024? Sign up today for a free Business Consultation to learn more!
