It is the time of year when real estate professionals start setting their sights and goals for 2016. Planning for 2016 to be one of the most successful starts by creating a list of your most important goals for the year.
Goal Setting
One of the most important things you need to do to set goals that are pertinent to your life is ask yourself how you want to design your life. Start by writing down 10 things you want to accomplish this year. After you have all 10 written down, then next to each one write down 10 compelling benefits and 10 negative consequences that will drive you to reach each and every goal.
This type of exercise will help you find what really inspires you to do what you have to do to drum up business, reach out to clients and potential clients, and make the sale.
Some tips on creating your goals:
- Plan big: Don’t sell yourself short; give yourself some lofty goals to strive toward.
- Long term vision: Think ahead a few years; where do you want to be 2018, 2020, 2022?
- Progress checks: Check your progress every 6 months to a year to determine which goals you’ve accomplished, and how close you are to living your vision.
Trends for 2016 and Going Forward
When setting goals, you should make yourself aware of what is happening in the real estate market and what expert analysts predict to be serious hot spots for the New Year. Real estate professionals working in the Orlando luxury homes market, Oviedo real estate or most any other Florida area should make note of the following important trends expected to affect their area in 2016.
Commission Compression
A trend that is becoming more and more prevalent in the real estate industry is commissioned based on performance. So for real estate professionals who aren’t as skilled, they may find their commissions dwindling.
To try and keep your commissions from decreasing, it is important for you to articulate your value proposition to a seller when working in the Orlando luxury homes market or Oviedo real estate. You need to show them why your services are worth the commission. Be sure not to get yourself into a downward cycle asking for a smaller commission or you’ll not reach your potential earning power.
Influx of Realtors
Economists are predicting there will be a massive increase of individuals choosing to work in the real estate industry. Some place the number as high as a million more people in the next 4-5 years. This type of competition could overwhelm the industry and the livelihood of many realtors.
Real estate economists are encouraging those working in the real estate industry to secure their area, such as Orlando luxury homes market or Oviedo real estate. Make sure that potential clients in your preferred zip codes understand why you are not just a preferred real estate professional in the area, but the realtor of choice.
Real Estate Teams
The trend toward real estate teams is one that is expected to continue because they can out produce a single realtor easily.
Reports find that there are approximately 35,000 to 50,000 teams operating in North America. The most valuable ones offer a service center hub that assist with marketing, lead generation along with the sales team.
Entrepreneurial Realtors
Realtors are becoming more entrepreneurial in spirit. They are networking with local, appearing on local TV shows, writing columns and doing whatever they need to in order get their name and face in front of everyone. In your area, try to find a way to become the number one source on real estate matters.
