A Year Too Fast
I know we all say this almost every year, but 2011 REALLY did go by fast. I am confident that I’m not the only one feeling this way, since so many people have been planning “planning on planning” for 2012 in the past several weeks.
The good news is that we’re all just a few months behind together and there is NOTHING preventing you from starting or reviewing your plan for 2012 right now.
Don’t Do The Same Blah-Blah
There is no shortage of business planning blog-posts and articles out there. Realtors seem to have a hard time creating a personal business plan, so I’m going to make it a bit easier for you. I know it’s important that we have a written business plan along with goals. I know that we need to be able to ensure that our marketing tools are all in order and that we have a vision for where we’re going, but as fluid as the Real Estate Industry is, doing an annual business plan is only partially effective. It’s a good guideline, but lets be honest… How many agents create a business plan and shelf it until it’s time to dust it off for the next year?
An annual business plan is antiquated within the first quarter of the year. Thinking that you can look at your previous year plan and just updating a few aspects of your plan is a mistake. Know what works and what doesn’t should be evaluated every 3-6 months.
Necessary Elements
You know how you work, better than anyone. But there are a few elements that you need to take into consideration and put pen to paper. Goals should be SMART:
S – Specific
M – Measurable
A – Attainable
R – Realistic
T – Timely
There are also a few important elements that need to be outlined for you. These don’t have to be extensive rhetoric, it simply needs to be a road map for you to navigate the upcoming year. Here are a few important elements:
- Vision
- Mission
- Staff Plans
- Financial Goals
- Basic Budget
- Education Goals
The above list is a pretty steadfast plan, but even then you’ll need to adjust it as needed. It’d be great if you needed to increase your support staff, huh!?!?
You can start by downloading the Coldwell Banker Personal Planning Worksheet.
A Few Fine-Tuning Tips
Aside from your necessary and routine annual planning, separate your marketing plan. Your marketing plan is far more fluid than many treat it, as is the budget.
For an example, if I’m spending $300 a month for a webpage and I’ve not received any valuable leads, than why pay for another six months? If you’re marketing efforts haven’t produced anything in a reasonable period of time, do two things:
Evaluate if YOU are doing everything to maximize the tool. This is the simplest concept, but seems to be the most difficult task to understake. Many times agents discount tools as being ineffective, but they don’t use all the aspects of that tool. Let’s say you’re using a webpage service. They will create the website, but often it’s up to you to ensure that there is updated and good content so that Google can find you. It’s work… There are few to no marketing tools that you can throw money at and it functions without you doing anything to maintain it. If those things existed, than everyone would be using them.
Ensure that the tool reflects you. As much as I think online marketing is essential to most marketing plans, it’s not for everyone. There are many successful Realtors out there that have a weak online marketing campaign, but still outproduce most people. These agents are doing well because of their social connections and working their sphere of influence. Take a look at your marketing plan and make sure that you are able to control the tools you’re using. Seeing a long abandoned blog out there reflects poorly on you. If you’re done blogging, than delete it… Likewise, if you’ve been doing newspaper ads for years because the “seller wants them”, then you’re probably found out that there is little return on investment for most of these ads. Find something flashy that will woo the Seller more than the print ads.
Have A Successful 2012!
Of course there is a lot more to annual planning than this post is intended to address, but I hope that this gave you some things to reevaluate. I think 2012 is going to be a great year and especially good for examining where we are and where we want to be!
Have a great year and remember this quote:
“I can’t change the direction of the wind, but I can adjust my sails to always reach my destination.” Jimmy Dean
About Matthew Rathbun
Matthew is the Vice President of Coldwell Banker Elite and is dedicated to Agent Development and Innovation. Matthew is a lover of God, Life and Mac , father of 3 great girls and husband to 1 awesome wife.
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