Real Estate

3 Steps For Reevaluating Your Real Estate Business Goals

Self-evaluation is always important. With limited hours in each day, real estate agents need to figure out how to maximize what they do best. Here are a few things to consider when updating your goals for the year.

As a real estate professional, setting goals for yourself is important for measuring and quantifying your success, and achieving those goals doesn’t happen overnight. It takes time, planning, learning and then putting those ideas into action.

Keep in mind the industry is always evolving, and real estate trends, laws and economic factors are always changing. It’s up to you to reevaluate and update your goals to meet your needs.

Once you’ve identified the goals you want to set for yourself, write them down. Studies show you are more likely to achieve your goals if you write them down. Writing down goals, posting them somewhere you can easily see them, and saying them out loud every day not only forces you to clearly identify what it is you want to accomplish, but it also keeps you motivated. 

1. Assess where you are

I suggest reevaluating your goals halfway through the year to assess where you are. Goals aren’t rules; they can always be changed. If it’s a number-based goal, ask yourself the following questions: 

  • Am I on track to hit my desired number of listings or closings for the year? 
  • Have I increased my referral database
  • Have my leads increased from my lead generation efforts? 

Just as important as evaluating those number-based goals? Assessing how you’re feeling mentally about your achievements. Ask yourself:

  • Am I excited and energetic about my work?
  • Am I feeling burned out? 
  • Do I need to ask for more help? 

2. Address burnout

Now, let’s talk about burnout. There’s always a risk of burnout with any job — and real estate is no exception. Especially after the year we just had, busy schedules coupled with COVID-19 restrictions made not only working but decompressing rather difficult.

When I feel myself or see a teammate experiencing burnout, I try to address it quickly. Being a real estate professional takes hard work. You have to be intentional with your time and have a passion for what you do. 

I’m a big believer in work-life integration, an approach that creates more synergies between all areas that define our life: work, home, family, community, and personal well-being and health.

This approach emphasizes weaving together different areas of your life rather than drawing firm boundaries between them. Some things that help with combating burnout and contribute to better work-life integration: 

  • Self-care: Take time away from professional and personal duties to do something for yourself.
  • Sharing household duties with partner/spouse: Lean on friends and family when needed to help manage logistics.
  • Time management: There are only 24 hours in a day — plan and schedule effectively and efficiently. This includes predictive time off. 
  • Set client boundaries: Real estate can be a 24/7 job if you let it. Set boundaries in the beginning of your client relationship, and respect each other’s time.

3. Goal-setting, round 2:

Sustainability is the name of the game. What can you do today, this week, this month, this quarter and the rest of the year that will help you achieve your goals?

Continuous reflection on the way we are working and what is working best will provide the most significant gains. Self-evaluation is always important.

If you feel like you’re falling behind, consider asking for help — whether it’s outsourcing your marketing to another team member or consultant, or having someone help make follow-up calls. With limited hours in each day, figure out how to maximize what you do best. From there, you can reset your goals and keep moving forward.

Amy Galvin is a managing partner with Luxury Living Chicago Realty in Chicago, Illinois. Connect with her on Instagram and LinkedIn

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