What smart moves can you make in the real estate industry to ensure a successful 2016? What you do now will make all the difference in your results next year. Whether it is your first year or 15th, how can you ensure it is going to be a stellar one?
Upgrade Your Goals & Expectations
It’s rare that you’ll blaze past all of the goals you set for yourself in a year’s time. It happens, but achieving results is far more likely to happen if you plan for it, and raise your expectations. There is no reason to under-perform in 2016. Raise the bar, and go for it. Don’t let yourself be held back by your own limitations.
Professionals are differentiated from amateurs by the fact that they have great coaches and mentors. It’s a fact. If you want to achieve big things in real estate in 2016 and beyond, make this the year that you tap into the power of having a great real estate coach.
Invest in Better Real Estate Marketing
Success in any type of business or sales is reliant on a good marketing strategy. The veterans already have their marketing campaigns lined up at least through the first quarter of 2016, and have the rest of the year planned out. Create great templates and systems that can give you a head-start each year, streamline the roll out of campaigns, and reduce costs going forward every year.
Delegate 80% of Your To-Do List
You should be well aware of the 80/20 rule by now: it suggests that 80 percent of your income comes from just 20 percent of your activities. Why waste your time bogged down in the other 80 percent? Create a list of all your bottom 80 percent of tasks, hire some freelancers to handle them, and roll into 2016 with 80 percent of your time freed up to work on the things that matter.
Line Up Appointments
December is a fantastic time to snag great discounts on new real estate acquisitions. However, the veterans know that it can be an extra challenging time of year for locking down new deals and getting commitments. One of the best ways to use this time is to set up appointments for January. Line up appointments and stack your calendar for the first four weeks of the New Year. Book appointments with prospective partners, investors, financiers, buyers, and sellers.
The more you know, the more you can do. The more you understand the intricacies of the industry; the better the advantage you’ll have, the better the deals you can negotiate, the more accurate your plans will be, and the more net profit and deal volume you’ll realize. Commit to learning more about at least four new areas of the industry this year. That’s just one every three months. Learn about appraisals, mortgage financing, property management, contractor work, private lending, wholesaling, title insurance, and more.
Expand Your Business Arena
There are great rewards awaiting those who work hard in a specific niche in the real estate industry. However, if you want more business volume and better profit margins, it pays to have a broader funnel. This may simply mean expanding into more property types and price ranges.
Take a Time Out
It can be really tough for eager real estate investors, agents, and business owners to take a time out. Yet, it is absolutely essential, and the end of the year quiet period is the best time to do it. If you can’t turn off your brain and just relax, at least spend time thinking, honing your strategy, and planning. This will definitely compound your results for the next 12 months, and will have you charging back full of energy when the ball drops.
The extent of your results will likely come down to how many of the above items you take seriously, and tackle before we roll into the New Year.