The reality of running a real estate business is seemingly in the moment. We deal with whatever comes our way and react to daily emergencies, which leaves so many of us emotionally and physically depleted.
Furthermore, the commission-based environment makes many real estate professionals fall into the trap of chasing the next transaction that will provide the desired monetary relief. This fosters a rather challenging environment. So, perhaps now is the perfect time to replace the idea of accomplishing more in less time with the concept of running an intentional business.
When you run your real estate business with intention, you introduce the possibility of breaking the cycle by finding ways to operate effectively while protecting your sanity and well-being. It also helps you gain clarity and an understanding of what truly makes a difference and moves the needle in your business.
Creating intention in all of your actions — which is especially important in the current environment — often starts with becoming more intentional with your strategies and resources.
Although a written plan or outline sets the stage for becoming more intentional, the reality is that there are various reasons why many agents avoid jotting down their plans. A few of the most common reasons for operating without a written a plan include: a fear of commitment, fear of failure, feeling restricted or simply not knowing how to do it.
Unfortunately, all of those reasons are counterproductive. They hold you back, making you feel increasingly overwhelmed by the pressures of the job. You end up running even faster in circles.
With only a month and a half left in 2020, now is the perfect time for developing and committing to a plan that clearly outlines quantifying goals, action items and strategies that support those goals.
If you are among the many real estate professionals who feel overwhelmed by that thought, consider starting small. What matters most is the decision you make to run your business by design versus chance, and putting your commitment to that in writing.
When you take the process step by step, you’ll find a new level of accountability and a sense of accomplishment that moves you in the desired direction. This progress will foster positive feelings, leading you to take more purposeful and directed action, which in turn gets you closer to achieving your set goals.
Business planning is a key component for setting the foundation for an intentional real estate business, the benefits of which are vast and span far beyond a monetary nature. In addition to tangible results — such as improved profitability — working by design allows you to laser-focus your time, resources and energy. This leads to more cost- and time-effective ways to run your business.
What’s more, spending more time working on your business instead of in your business will help you remain current, preserve mental energy and advance your professional growth.
To sum it up, becoming more intentional with your business — in regards to creating a robust strategy and effectively utilizing your resources — starts with developing concrete steps to follow. This means you have to gain clarity about your goals, the direction you want to take, your strengths and points of differentiation that position you uniquely to serve your clients.
Getting crystal-clear while taking inventory provides you with a foundation to develop a roadmap, which will direct your next steps and align them with your desired results. Make sure to track your progress, identify what works and what doesn’t, and adjust where needed.
Lastly, don’t forget to celebrate your accomplishments as small as they might be, because they are a reflection of forward movement — something that’s utterly important in a real estate environment and world that’s constantly changing.
Marion Weiler is a principal at Weiler International Business Coaching and Consulting in Windermere, Florida. Connect with her on LinkedIn or Facebook.
