By Rob Reuter, YPN Manager
It’s official: 2012 has kicked into full gear. If you haven’t already, now is the time to start your business planning. Elizabeth Mendenhall, 2012 chair of NAR’s Strategic Planning Committee, recently asked YPN members what kind of statistics they consider when forming their annual business plan. From my former selling days, I focused mainly on two statistics:
- Absorption Rate: Focus marketing in areas/neighborhoods/price ranges that have high turnover rates and low time on the market.
- Frequency of Income-Producing Activities: Where does my business come from and how much time/energy do I put in these areas?
Several other YPN members have great ideas as well:
Dollars/Hour Earned (Brian Copeland): How much are you earning per hour? Take your gross annual income and divide it by the number of hours you worked. Increasing this number means you are making more and working less!
Months Supply/Inventory (Nobu Hata): Communicating this information to the consumer effectively will help ensure more accurate pricing.
80/20 Rule (Tiffany Curry & Kate Koplinka): Are you part of the minority doing the majority of the business?
Market Share (Lena Williams): Increase the percentage of your market share if geographical farming is part of your plan.
Average Sales Price (Kenny Parcell): Continue reading »
By Jared James
Hi Ypn’ers! If you are like most people, you are planning to do one of two things for the New Year:
1.) Get motivated and try once again to set a new goal for the New Year, or…
2.) Don’t even attempt it because you have been there, done that, and are tired of setting goals every year only to disappoint yourself by not achieving them.
There are many things that I am not very good at. For example, I have good form but swim at the speed of a sloth in the water. I am also probably the most directionally dysfunctional person you will ever meet. Don’t challenge me on this. I have come to terms with this fact and I accept it. But one thing I have always been very good at is to understand WHY people do what they do, or don’t do what they do. In every circumstance there are specific reasons why we are successful or not, shy or outgoing, look up or look down, speak high or low and so on.
In an effort to not bore you with the psychology of it all, I will just say this: There are very specific reasons why you have or have not hit your goals in the past or why you will or will not going forward. I have the fortune of keynoting conventions for groups all over North America and recently I covered this very topic. If you want to figure out how to set your goals for 2012 and actually achieve them… then enjoy this short clip!
Jared James is the CEO and founder of Jared James Enterprises (JJE) and travels around North America speaking to and coaching REALTORS®. Connect with Jared at www.jaredjamestoday.com, on facebook.com/jaredjamestoday, or follow him on Twitter @jaredjamestoday.
By Brooke Wolford
This year was truly amazing for my fellow YPN’ers. I don’t think I have ever been so proud to be a part of YPN. The Young Professionals Network has grown so much and our presence has become very well known. Nobody can deny the fact that we are leaders in the real estate world.
I remember when I first got involved with YPN and having to explain to people what it was all about. Well, that’s no longer the case. Now anytime I mention YPN, I get this sort of celebrity-like feeling. People get excited about it. It’s inspiring what we have become.
We are actively involved in our industry. We’re rounding out the year with 227 YPN networks nationwide – that includes nearly 100 new groups formed in 2011. There are more YPN’ers involved in their local and national associations than ever. The leadership is amazing. We have this influence in the world and we are recognized for being able to share, mentor, and motivate people. We are the definition of what leaders should be.
I can honestly say that in 2012, we will be unstoppable. We have a lot of potential. Not to sound cliché but the sky is the limit. We are the elite. Congrats to all on another fantastic year! Cheers and let’s rock 2012!
Brooke Wolford is a real estate practitioner with Coldwell Banker Burnet in Woodbury, Minn. Follow her blog at adventuresinrookierealestate.com.
By Anand Patel
With 2011 coming to a close it seems everyone is talking, blogging, and tweeting about setting new goals for 2012.
Well, let’s not jump the gun! What about the goals you already set for yourself that you haven’t accomplished? Whatever you do, if they are worthy goals you truly wish to achieve, don’t abandon them just yet!
Before giving up and setting new goals, why not seriously look at what you have already set for yourself. Do you know what these goals of yours look like? I mean, deep down inside, can you visualize, feel, smell, and even taste these goals? If not, maybe your vision is getting bored, and it’s time to get your goals down on a VISION BOARD.
A vision board is just that — a board that helps you visualize your goals. I put my first vision board together this past August to help me really ingrain some of my short-term and long-term goals. If you’re a visual person like me, there is something very powerful and moving about having real pictures of what you hope to achieve laid out right in front of you to look at every day.
If this sounds like something you want to give a shot as we prepare for 2012, it’s very simple to get started:
- Get a poster board. I went to Staples and purchased a 20″ x 30″ sturdy board. Get whatever size you think will work best for you.
- Get away from any distractions. Find some quiet time, either late in the evening or early morning with a notepad and “brain dump” your current goals and all that you want to have, do, become over the next three, five, 10 or even 20 years. Think BIG and don’t hold yourself back. Don’t let your mind tell you that it’s too crazy if it’s something you REALLY want to achieve.
Here are some questions to ask yourself to help get the juices flowing:
- How much money do I want to make per year? $250,000? $800,000? $2 million? (Why Not! Think BIG!)
- What kind of clients do I want to work with? First-time home buyers? Investors? Retirees? Celebrities? Continue reading »