A Goal Setting Formula for New Real Estate Agents That Never Fails
Goal setting is a critical part of any new real estate agent’s strategy. Establishing what you want to achieve keeps you motivated and determined as you grow your business. Everyone hustles a little harder when you know what you’re working toward!
Figuring out how to achieve your business-driving goals takes some planning, but there are a few strategies out there to help.
S.M.A.R.T. goal setting is arguably the most effective formula, which is why it’s taught in the top real estate agent training programs for new agents.
In goal setting, SMART stands for specific, measurable, achievable, realistic and time-bound. By writing your goals with these themes in mind, you are more likely to achieve them! Here’s how it works.
Specific — Instead of writing a broad goal, the SMART formula requires you to drill it down. What does it really look like to “make more money”? Perhaps you’re trying to increase your income by 50%, or close one extra transaction each month. Getting specific helps you know exactly what you’re working toward.
Measurable — How will you know you achieved your goals if you can’t measure success? SMART goals can be measured and tracked. For example, if you’re trying to increase your annual income by 50%, you can measure your progress each month and adjust your tactics if you fall short.
Achievable — Ensure you have the skills and tools needed to achieve your goal. If you do not have the resources, consider what it might take to acquire them. As a new agent, you may opt into a real estate agent training program to gain the skills needed to increase income, improve customer experience and other major parts of the business.
Realistic — It’s important to manage expectations when goal setting. While it would be nice to rake in $1 million in your first year on the job, you may not have the foundation to do that just yet. SMART goals push realistic milestones that you can achieve so you don’t get discouraged!
Time-Bound — Some goals take longer to achieve than others. Consider the time frame you are giving yourself to achieve a certain goal, and make sure that’s doable. If it’s not enough time, you can feel disheartened and frustrated if you don’t reach the goal. SMART goals prevent this from happening!
New agents, you got this! S.M.A.R.T. goal setting is a strategy that requires some practice. Invest in real estate agent training that dives deep into goal setting — 100 Days to Greatness® is a real estate training program for new agents that will help you dive into all your goals in your first few months on the job. Take 100 Days to Greatness® online or with your brokerage today!