What it takes to make your income goal

 

 

Below is the Goal Setting section from my training program, Quick Start to Earnings. 

Goal Setting for Success

Success comes by design, not accident.  Goal setting is the first step.  Once you set your financial goals, you can develop a plan of action.  The next step after you’ve learned basic goal setting and how it can help you is to begin to do full-fledged business planning.  We’ll talk about both.  

Step 1:  Set your Goals  

Income Goal A) ________
Average Sale Price B) ________
Average Office Commission Rate per Side (%) C) ________
Average Commission per Side (B x C D) ________
Associate's Commission Split (%) E) ________
Average Associate Commission per Side (D x E F) ________
Number of Closed Sides Needed (A divided by F) G) ________
Number Sides Under Contract Needed (G divided by 80%) H) ________

(reflects fallout ratio)
 

Step 2:  Calculate Prospects Needed per Week
Listing Sides Under Contract Needed (60% of H) I) ________
Listings That Must Be Taken (I divided by 70%) J) ________

(reflects listings that don't sell)
Listing Calls Needed K) ________
Number of Weeks Worked per Year L) ________
Listing Calls Needed per Week M) ________
Buyer Sides Under Contract Needed (40% of line H) N) ________
Buyers Needed (3 x N) O) ________
Number of Weeks Worked per Year P) ________
Buyers Needed per Week Q) ________

 

Sellers
Total Listing Calls Needed ________( From Line K)
Prospecting Source Annual # Presentations per Source Contacts to Produce a Presentation Annual Contacts Needed Weeks Worked Per Year Weekly Contacts Needed
Farming _________ x 200  = _____divided by

_____ =

  
FSBOs _________ x 10  = _____divided by _____ =  
Expired Listings _________ x 15  = _____divided by _____ =  
Past Clients _________ x 20  = _____divided by _____ =  
SOI _________ x 50  = _____divided by _____ =  
Internet Leads _________ x 10  = _____divided by _____ =  
Cold/Warm Calls _________ x 50  = _____divided by _____ =  
Other _________ x = _____divided by _____ =  

 

Buyers
Total Buyers Needed ________( From Line O)
Prospecting Source Annual # Presentations per Source Contacts to Produce a Presentation Annual Contacts Needed Weeks Worked Per Year Weekly Contacts Needed
Signs Calls _________ x 10  = _____divided by _____ =  
Ad Calls _________ x 10  = _____divided by _____ =  
Internet Leads _________ x 10  = _____divided by _____ =  
Open Houses _________ x 10 = _____divided by _____ =  
Past Clients _________ x 20  = _____divided by _____ =  
SOI _________ x 50  = _____divided by _____ =  
Farming _________ x 200  = _____divided by _____ =  
Warm/Cold Calls _________ x 100  = _____divided by _____ =  
Other _________ x   _____divided by _____ =  
NOTE: You can change any of the calculations to reflect your experience.
 

 

The author of this article is Linda Grissette.  Some of you may remember her as Linda Grayson.  Linda is a Broker-Associate with River City Real Estate.  She is also the company trainer.  Learn more about how River City Real Estate can help you make more money...even in today's market...browse through this site.

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