*Goal Setting

One of KJF Partners’ Core Values is:

“We are driven by our personal commitment to create value for our investors, tenants, teammates and brokers.”

To serve our broker partners, we send occasional emails that focus on things that I have learned through my brokerage history or that I notice from my current role on the principal side of the business.

Brokerage is a very challenging business and quality goal setting can lead to effective habits and a successful career

Choose goals that lead to great habits:
As the new year begins, setting goals for 2021 and developing a plan to achieve those goals becomes a primary item on many of our agendas. Brokerage is a business frequently driven by monetary targets, and conversations with numerous brokers reveal many are setting primary goal(s) based solely on the money they’d like to earn in 2021. Brokerage has taught me that earnings during a calendar year may or may not be based on good habits but, good habits eventually lead to consistent earnings, and a great career.

I believe your goals should: 1) lead you to success, 2) be totally in your control to accomplish and 3) be reasonably achievable.

As we learned in 2020, Brokerage has many “landmines” that can kill deals even if the broker has done everything right. Deals dying are a part of the business, and can affect short term earnings greatly. For that reason, I believe its empowering to set your goals based on the habits that will lead you to achieving your monetary benchmarks. Set goals that you believe will lead you to the money you hope to earn. Those items may be ongoing calls, seller meetings, listing proposals presented. If you’re not clear on what those actions are, work with your mentor, other successful brokers or managers to develop a clear understanding of the relationship between specific actions, and your earnings targets. Break those actions down so they become your primary focus on a weekly basis and drive yourself to hit those goals with the knowledge that the habits you create will help ensure you will have a successful year and career.

An example and a question:
Joseph and Brad are both brokers that had hopes to reach a specific income level for the year. Joseph set only a monetary goal for the year and Brad set his goals based on achieving 4 target investor meetings per week or 200 Seller meetings during the year. Joseph chased every deal and every buyer and did close a deal in April and in September. The deals generated the income number he had hoped to hit for the year so Joseph took his foot off the gas and cruised through quarter 4 “feeling” fat and happy. Brad also hit his goal of 200 seller meetings. He generated lots of proposals, has full pipeline of salable listings, quite a few closings and enough deals in escrow to hit the income level he had hoped to hit. THE QUESTION: Who is better prepared to repeat his success and continue to grow in the following year and who do you most resemble?

Happy Hunting!

Joe

PS: If you have subjects that you’d like to see become future topics for This Principal’s Perspective, hit reply and let me know what your thoughts are.

Joe Faris
KJF Partners, Inc.
Cell Phone: 949-275-5038