Are you thinking big enough?
Congratulate yourself on making one of the most important decisions of your life. Whether you got licensed yesterday, last year, or last century, you were smart enough to invest in yourself and your future when you got into real estate! Why? Consider the following, and then we’ll encourage you to think bigger, upgrade your goals, and set them into motion with a PLAN.
Welcome back to America’s #1 Daily Podcast, featuring America’s #1 Real Estate Coaches and Top EXP Realty Sponsors in the World, Tim and Julie Harris. Ready to become an EXP Realty Agent and join Tim and Julie Harris? Visit: https://whylibertas.com/harris or text Tim directly at 512-758-0206
IMPORTANT: Join #1 Real Estate Coaches Tim and Julie Harris’s Premier Coaching now for FREE. Included is a DAILY Coaching Session with a HARRIS Certified Coach. Proven and tested lead generation, systems, and scripts designed for this market. Instant FREE Access Now: YES, Enroll Me NOW In Premier Coaching https://premiercoaching.com
Why is real estate your best decision ever?
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1. There’s no income cap. You are limited only by your skill set, which is infinitely upgradeable, inexpensive, and readily available through coaching.
2. Your skills are portable; you can get licensed virtually anywhere in the world and be up and running in less than 90 days.
3. You don’t have to buy your inventory.
4. Everyone needs a place to live.
5. Everyone, all the time is thinking about housing. Renting, buying, selling or investing.
In other words, you have no excuses. Are you thinking big enough?
Let’s get into some goal-setting on today’s podcast. Refer to our best-selling book, Harris Rules, and Premier Coaching to drill down on your specific goals. Your Real Estate Treasure Map also includes a more in-depth dive into goal setting, so don’t wait to get that!
A Goal is a Dream with an Action Plan.
Goals must be ‘SMART’: Specific, Measurable, Attainable, Realistic and Timely. We’ll take a look at some examples in a moment. First, write down the five areas of life to set and achieve goals:
Family, Financial, Physical, Mental/Spiritual, Educational.
Note: Don’t strive for perfect balance in the five areas. Naturally, you’ll have big goals in some areas, and micro goals in others. Your goals will be upgraded as you achieve them.
Let’s take a deep dive into the most obvious one for most people: FINANCIAL.
Most agents say: “I want to / need to save more money.”
As stated, this is simply a dream. To turn it into a goal, let’s apply the ‘SMART’ rules, so it can become a GOAL. Here are the questions to ask yourself (a great coach can help you with this!)
(We’ll ask the questions and then show you an example plan)
1. Be specific and measurable about your financial goal. How much money? Why that much? What’s that amount based on? A reserve fund of 6 months, or a downpayment for your next house?
2. Make your goal attainable. Is that amount possible? How many transactions would it take to get there, based on your average net commission? How does that compare to your averages currently?
3. Make your goal realistic. How realistic is your goal? Is it 2x what you know you can do, or 100x that goal? Should you make your goal more incremental so it’s more realistic?
4. Make your goal timely. By when will you accomplish your goal?
5. Formulate your plan. What has to happen for you to achieve the goal? What skills must you obtain or upgrade to be successful? If you’re not sure, it’s probably time to get some help through Premier Coaching.
6. Write down the plan. Share it with your coach.
7. Create a daily schedule that reflects your goals and the actions necessary to achieve them.
For example (after you’ve answered the above questions):
You started with a dream of saving more money. Now that it’s a goal, here’s what that looks like:
You will save $60,000 to a savings account by the end of the year. That’s 6 months of reserves, based on a monthly personal overhead of $10,000/month. You’ll achieve this by closing 6 additional transactions this year with an average of $10,000 net to you. That’s on top of the 12 deals you need to do to pay your overhead, so you’ll do 18 deals this year, 12 to pay your bills, and 6 more to finally have some reserves.
(Adjust accordingly!).
Now that your goal is Specific, Measurable, Attainable, Realistic, and Timely, you’ll need to figure out the PLAN to back it up.
That’s what we cover in Premier Coaching.
