Setting Your Financial Real Estate Goals for 2010
Here's a tool I created back when I was in Title and Escrow. I've used this in the past to help Brokers and Agents with their financial goals. I called it Agent Assist because that's exactly what it was created for, to assist them in reaching their income goals. Based on just a few simple questions, the AA spreadsheet will calculate exactly how many homes you need to sell to reach your desired income goal in Real Estate.
By entering the average sales price of the homes in your area, your commission and broker split, the number of weeks you want to take for vacation, the number of days and hours you're willing to work, and lastly, your desired income goal, the program will automatically calculate how many contacts you'll need to make, how many appointments it will take, and precisely how many homes you'll need to close to reach your goal.
Check it out, I think you might like some of the features and tools that stemmed from the opinions and suggestions of other Brokers and REALTORS across the country. Below is what the "Goals Analysis" page looks like. It's real easy to use, I know it works, and it might be a tool you can use too.
In addition to the Goals Analysis page, there are some others tools I added for tracking sales, monitoring marketing budget, tracking expenses and taxes, created a contact to lead conversion table, inventory and pipeline chart, buyers costs, sellers costs, rent vs own, a mortgage calculator with amortization table, etc. Here's to you reaching your income goals in 2010 no matter what means or tools you need to use to do it! Cheers. :-)
BTW- This post was inspired by Broker Bryant and Carra Riley's recent "Goal" posts.
I forgot to mention, the example I used in this table sample was:
Of course making any adjustments to any of these figures above will give you a brand new set of numbers and results. The key I think is that the contacts, appointments, and closed sales needed to reach the goal is very realistic and achievable for this individual's scenario.
Brad
Agent Assist is a great tool and if used properly can chart exactly what numbers you need to hit. As with any tool, using it properly will get results!
Trying it and then hiding your head in the sand is not a good idea!
Ty
Thanks, Brad! This looks like a great tool -- I like anything automated! Have a Happy New Year!
Thank Ty - and you're right. Any tool left sitting in the box is not really a tool. It's "Hard" ware. :-)
Marcy - thanks, let me know what you think of it or if you need any help understanding how it all works.
Excel Master!
Interesting program, Brad....... I took a look at it on your post and I might just use it......
Thanks for the information, brother...... I am sure for $29.95 it does what you say it does.....
=-)
Thanks Ricky - it wasn't built in a day, that's for sure. <big sigh...>
Hi Alex - if it doesn't, there's a 100% money back guaranty. :-))
Brad, Thanks for another fun tool to use in establishing the goals for 2010. I'll put it to good use.
Hey Brad this is a fantastic goal outline. I will share the link in our next meeting at eXp.. well maybe sooner..
Katharine
This works well with any Financial personality. I want to play with it and see how well I would track. Thanks for sharing.
Brad, thanks for sharing this tool. I'm going to see how it works out for me.
Hey Brad, your tweet lead me to Carra's other blog, in which your program Agent Assist was mentioned. That led me here. Now it looks like I have to go back to your other blog to get the program. The price is definitely cheaper than the lowest priced cup of coffee at S***B****.
Brad - As always thanks for sharing. Our company has a very in depth program for accomplishing the same thing. While it works too, most of our agents find it too complicated. This should help those guys a lot. Thanks again.
Hey Brad thanks for the post and the heads up. Have a great new year and thank you for all that you have shared in 2009
Hi Brad, I'm not sure what I'm doing wrong, I clicked on the link for Agent Assist but it went to a wordpress blog...Is there a download or something somewhere? Maybe I need another cup of coffee...
Chanda panda
Nevermind, I found the link...Guess I just needed another sip of coffee, not a cup. :)
Chanda - I set up that Agent Assist blog a couple years ago so folks could read and understand how the program works. There is a download tab at the top of the page along with other information, demos, testimonials etc. There's even a tab which gives you a "Live" sample to play with and test it out. Call me if you have any problems, everything should be working on that site as far as I know. Thanks. :-)
Hi Brad: Was perusing some of your earlier blogs and ran across info on Agent Assist a couple of days ago. It's intriguing and I'm probably going to buy it. Please tell me though.....what sort of time commitment is required to get the benefits of this program. I'm so short on time these days...and better time management is one of my goals for 2010. Sell me!
Brad,
Thanks I needed this since I am getting ready to make a big move next year. I need the help and this keeps me from having to create my own Excel spreadsheet
Hi Kirsten - the time commitment is nearly 0 on the program, that's the beauty of it. In less than 2 minutes, you'll know exactly "how much time" you'll need to invest into your business to hit your Financial goals next year based on the time you have available to do it.
(I'll throw together a quick screenr video to give you a "real time" idea of how it works)
There are some tracking tools and cool formulas for some other stuff, but that requires minimal time because it's just simple data entry.
Let me know if you have any questions, there's a sample you can play with on the site if you like. :-)
Brad, Looks like a great tool. It reminds me a bit of my old gym workout sheet.lol
Steve
Brad, Looks like an interesting tool along the lines of Gary Keller's Millionaire Real Estate Agent book. I was just working on something I put together a bit more crudely on Excel for both executive home sales, leasing and property management. (Those last two seem to throw a wrench into most "systems" I have seen, but are a good component of my business.) It's interesting to track those for a year and then year over year to see how your business grows. Something to think about. I will take a look at the tool. All the best in 2010! Michelle
Michelle - maybe I should rename it to Agent AShift.
The two items you mention could easily be added to this program and tracked on an annual basis, year after year. I have already included a module that does this, it can be customized, and is exactly what you mention. Let me know what you think.
All the best to you in 2010 as well. :-))
thanks for the great info as always
Thanks for sharing - I am looking forward to using this! Happy New Year!
Brad, Ilove this tool. It beats a paper sheet or even an excel file. Thanks!
Thanks Brad - I'll check this out. Happy New Year!
I just put up a sample video that walks through the "financial goal setting" process. It's a couple minutes long but makes it much clearer how easy it really is to do this. The hardest part is sticking to your goals once you know what they are. Carra has just completed a great 4 part series that covers much more than just setting your business and financial goals, she shares some great information from all of her leading and training experience. Happy New Year, my goal now is just stay awake till midnight!! lol~ CHEERS ALL!~
Thank you it is always helpful to have the information needed to set the proper goals.
I like your goal sheet. Years ago when I used Pat Zaby's program called "PREP" I used to create goal worksheets that were similar not they didn't calculate vacation time. Your worksheet is part of a good business roadmap that will help agents plan.
Nice work!
Will check it out...
Happy new year
Great reminder for everyone. I always have my goals and affirmations in mind as I start each day.
Great reminder for everyone. I always have my goals and affirmations in mind as I start each day.
Brad - I haven't seen your program but assume that some of the programming (e.g. taxes, mortgages) is handled from an American perspective. If you are interested in offering a Canadianized version, let me know as I could help in that regard (via e-mail).
Marc - great idea. My plate is pretty full right now though. The tax and mortgage portions of the program are already completely customizable. You may want to check it out and then let me know if any modifications are actually even necessary. Thanks, and Happy New Year. :-)
Having come from multi-unit rental management, I was used to Performance forms and I created them for myself when I started my first property management firm....they work and should be utilized annually if not quarterly as a benchmark for our performance v expectations....great reminder!!
Thanks for the reminder. Happy New Year.
Uh wow, I just spent a bunch of time yesterday and the day before doing similar spreadsheets. Why did I not know about this before?
Also, what frustrates me about my business plan is that I do a significant number of referral and BPO business and I never see tracking for those types of sales/income. It is frustrating so I knocked off a bunch of business plans (from title marketing reps of course) to make my own spreadsheets.
Is there a way for me to put referrals and bpo tracking for projection & evaluation in Agent Assist?
Brad, like you said in the post if you don't use your tools it becomes hardware. Thanks for sharing tips on goal setting.
Thanks Brad. I love it. My manager is big on goal planning and teaches a class on it every year for all of our office agents. I forwarded your blog on to him too.
Renee - yes you can. You can modify and custom tailor Agent Assist to track BPO's and all your referral business from any source. If you want to see it, let me know and I'll show you how easy that works. My goal in doing this is really to help others achieve their goals. That is truly the greatest reward I have ever received from creating and sharing this program.
That's also why I love my job here at ActiveRain soooo much, I've never been able to help others as much as I can here. It's always been one of my life dreams and goals, to do something and make a difference. I never knew it could or would be so very rewarding.
I'm Here if you need me. :-))
Just purchased it and can't wait to check it out and put it to work for me! $30 is a small investment if it's going to help me stay on track and reach my goals this year!
Thanks Brad!
Great information. I wished I read it two weeks ago when I had to do my 2010 business plan. I turned it in to my manager on Dec 31, 2009 and will use this for my 2011 business plan. Thanks
Thanks for the tech tools - love it.
Thanks for the tech tools - love it.
Hi Joyce - this little program has been helping agents and brokers for years now. What I really like about this tool is that it works for any agent or broker, anywhere in the country, and in any market conditions.
Hope you're off to a great start of hitting your goals in 2011. Happy New Year!
Brad,
Thanks for the very informative and well organized article!
-John
You're welcome John. The nice thing about this type of financial and goal planning is that it works anytime, all year long and in any Real estate Market in any geographic area. Anyone can do this and I highly recommend that they should. :-)
I think setting your goals and not reviewing them on a regular basis is like fishing without bait on your hook. You might be doing something but it probably isn't going to work.
Larry - great to hear from you my friend, and I love your analogy... one of the best yet!
Thanks. :-)
they are so important and to have them written down and visualize is equally important. I believe you have to have a way to measure your progress.