(source: fotologic, some rights reserved)
When I began in the Real Estate business, some 30 months ago (ed: does that sound longer than two and a half years, or shorter ?), I wasn’t sure as to what I wanted to sell:
Follow my passion to help people build wealth, or help people buy and sell homes? Can I help a guy with leasing ? What about office space ? Maybe I should list a farm and a gravel pit . . . No, how about an apartment building!
When I’m unfocused, I tend to get poor results. My first year, I ran around dealing with a bunch of different types of real estate, acheiving not such great visible results – $5.6 million in expired listings in two distinct speciality areas (multi family residential, and agriculture& aggregate land), a few residential sales, and a lease.
When I committed to focusing on my passion – helping people build wealth – and just deal with investors acquiring and disposing of assets, I noticed a dramatic improvement in my results.
My second year, I increased my GCI by 700% – it wasn’t a huge dollar amount, but it was enough to live comfortably on – and made a name for myself in my niche.
In my third year of business, I’m becoming even more focused and my results have increased again. Continuing the journey to create my perfect real estate business, I’ve created a new vision board – with a twist.
This isn’t a vision board about the house we want, or the Range Rover I want, or a dream vacation. It’s a vision board for the transactions I’m going to represent clients in this year.
It looks a little something like this:
I am so grateful to help:
XYZ Holdings acquire a 200 unit residential apartment building
Mike sell his building on Kinzie Ave
Pearl Inc. develop a 40 unit building
132 Holdings acquire a class A retail mall
These aren’t transactions I’ve already done, they’re ones I will do this year. When I focus on the goal, I can figure out how to create that outcome.
When I look at this list every day – it’s on a white board perched above my computer monitor – it reminds me of what I need to be working on.
I start thinking – who do I know that has a 200 unit apartment building to sell ? Who do I know that might know someone who has one ? The visual display of the goal sets the mind in motion better than simply thinking ‘gee, I should sell someone a big building.’
We’ve all heard that when you put down your goals on paper you have a greater chance of doing what yuo need to do to achieve the result. I’ve certainly seen this be true in my experience.
I suggest this is true with specific transactions too. Start writing out what you want to do this year. Maybe it’s to help the Greenbrooks sell their Victorian mansion and move into a nice condo. Maybe you want your team to help a developer sell out his 200 unit condo development on the beach.
Set big goals. Write them down in way that makes you grateful for them. Look at them daily.
You’ll smile with what you can create.
Matthew Rathbun
May 26, 2008 at 8:57 am
Great reminder on being on target with our goals. I know that grasping the concept of writing and following goals was a pivotal point in my business.
Benjamin Bach
May 26, 2008 at 9:03 am
Thanks Matthew – what have you implemented re: writing and following goals ?
Eric- New Orleans Condos and Lofts
May 26, 2008 at 4:47 pm
I tended to fall in the condo niche and although the sales prices are lower they are fund to do. peole move in and out faster. Last I was able to do 60 transactions since I was in a niche.
Bill Lublin
May 26, 2008 at 6:22 pm
Benjamin;
I was never one for writing out goals (though I encourage our agents to do so). But I did have some clear goals when I was a young agent.
And having clear goals means knowing where you want to go. If you know where oyu want to go, I believe you’ll get there. 🙂
Jeremy Hart
May 26, 2008 at 9:20 pm
Nice job, Benjamin. Not unlike a lot of other people, I’m sure, I never took the time to really define what my goals were. My first year in business, I wrote them down … and I accomplished every one. I think seeing them in front of me every time I opened that Excel spreadsheet I had them saved in motivated me, and it became a challenge to see which ones I could check off the list.
Year two, same thing.
Years three through five, I got away from them a bit. But they’re going to be coming back.
Loved hearing what motivates you, and it in turn motivated me. Just another reason why I read blogs.
Thomas Johnson
May 27, 2008 at 7:32 pm
I am grateful for this little nugget. thanks, Benjamin!
ines
May 27, 2008 at 8:17 pm
Benjamin – since I’m visual, I used to write down and draw my goals – those things I would get when I got my business where I wanted it to be. Your method is so much better and much more precise. I’ve actually been doing it with my Luxury picks in my blog. I picture me selling those babies and know I’ll be there soon – the calls are coming in.
It’s all about focus.
Irina Netchaev
May 27, 2008 at 8:20 pm
Benjamin, I love vision boards and I truly believe that putting our goals as specifically as possible on the board with pictures will help achieve them. It brings our goals into focus. Great post!
Benjamin Bach
May 28, 2008 at 5:48 am
Eric – thats an impressive year! How have you carved out a position for yourself in the niche ?
Benjamin Bach
May 28, 2008 at 5:49 am
Bill, are you curious what could happen if you tried writing down your goals ?
Benjamin Bach
May 28, 2008 at 5:50 am
Jeremy, what are some of your goals for this year ? If you write them down, your own personal history has shown that you’ll accomplish them. That’s a powerful motivator!
Benjamin Bach
May 28, 2008 at 5:51 am
Thank you Thomas
Benjamin Bach
May 28, 2008 at 5:53 am
Ines, I love the luxury picks on your blog. Last time I visited my grandparents in Miama Beach (on the Intercoastal, near the big old navy outlet) I stumbled into a few open houses in the “several million $$” price range. WOW – Nice inventory.
Let me know the next time you have a waterfront open house – I’ll schedule some vacation time around it. Put a few addresses up on your grattitude vision board, and it’ll be all the sooner!
Benjamin Bach
May 28, 2008 at 5:54 am
Irina, have you started to put specific transaction or business goals on your vision board ? I’d love to hear how you’re implementing this idea.