How to Set S.M.A.R.T. Goals for 2021
Your 2021 real estate business plan isn’t complete until you’ve set out your S.M.A.R.T. goals! You’ve probably heard real estate coaches and trainers mention these in the business world, and there’s a good reason as to why — they get the job done!
Without specific business goals, you’re more likely to drift through your day-to-day activities without a purpose. You may still find some success, but you won’t quite know how or why you go there. When you set S.M.A.R.T. goals, you always know where you’re going and why.
S.M.A.R.T. goals are specific, measurable, achievable, realistic and time-bound. Goals set with this structure are more likely to be achieved, since you’ve applied some specific parameters to guide you. It’s one thing to say you’d like to make more money in 2021, but it’s another to outline just what needs to be done to get there (close one extra transaction per month, invest in training, etc.).
Take a deeper look at each component of the S.M.A.R.T. goal and how it contributes to your success.
Specific — Get specific with what you want to accomplish. Instead of saying you’d like to “make more money,” assign a value to it. For example, you may seek to double your income or aim to make a target amount of money.
Measurable — How will you know if you achieved your goal? Determine a way to measure your progress, whether it’s by tracking your income in your real estate CRM or writing down your accomplishments in a journal.
Achievable — How can you achieve your goal? Ensure that you have the necessary resources and skills to achieve it. It’s possible you may need to develop the skills needed — that’s fine too as long as you include that in your plan!
Realistic — Determine the purpose and benefit of achieving the goal. It would be rare for a new agent to make one million dollars in their first year, but if the goal was to make $100,000, that might be more attainable. Keep your goal realistic and connected to your own purpose.
Time-Bound — Give yourself a deadline! Plan to achieve the goal by a certain date and time. If you break your larger goal into smaller ones, set time frames appropriately (10-day goals, quarterly goals, etc.).
Achieving your goals is easier when you have a business system in place that holds you accountable. Buffini & Company One2One Coaching pairs agents with a real estate coach to help them set and reach their goals, while also tracking and celebrating their progress. Sign up for a free business consultation to learn how a Buffini & Company real estate coach can take your business to the next level in 2021.