Year End Questions to Ask Yourself

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The year is coming to a close, which means its the perfect time now to take a look at your progress and use it to set goals to make next year even more profitable and enjoyable.

Many agents will be having conferences with their office managers soon to help them set goals, but very few office managers actually take the time to tell their agents what they need to consider and how looking back at last year can teach you things to do differently.

Here are some year end questions to ask yourself:

Where did my business come from? Write down a sheet of paper (or hopefully, if you’re organized, you already have a spreadsheet of this you can simply organize) all of your clients and where they came from. Do you see any trends of successful marketing? Does any type of marketing bring a particular buyer or type of client?

How did I spend my time? It’s easy to lose track of time as a real estate agent. Your time may be divided up into things such as prospecting, servicing clients, paperwork, learning, personal, sleep, eating, etc. etc.  Think about how you really spend a day and if there are ways to be more effective or if certain areas need more time than others.

What are my strengths? Looking at your strengths can help you think of creative ways to use them in other aspects. Making a list of your strengths is not only a confidence booster, but it also helps you focus on what you’re doing well and continue to repeat it.

What are my weaknesses? Weaknesses don’t always have to be negative, but they tend to be typically things you need to improve on. Are you not making enough phone calls? Wasting too much time? Brainstorm on ways you can turn your weaknesses into strengths.

What three things did I learn this year? Each year in the business will teach you something new, whether you’ve learned it the hard way from mistakes or picked it up in a book you read or class you attended. After you’ve determined what you learned, what are some things you would like to know more about? How would go about doing it? For example, if you wanted to learn more about foreclosures, you could pick up a book or talk with a foreclosure expert to learn everything you wanted to know.

What were my expenses? Being a real estate agent is a business, and since you’ll be filing your taxes in a couple of months anyways, its good to look at your expenses versus revenue just as any other business would. Think about everything from marketing materials to yearly board dues and fees to car insurance and gas. Are there any expenses you can cut out next year to make your business more profitable?

Did I Meet My Goals? If you met your goals for last year, that’s fantastic. But if you found yourself coming up short, then its time to examine how you can meet your goals for the upcoming year. Make sure you set realistic goals that you can achieve. Then start asking yourself what can be improved. Do you need better marketing ideas? More contacts? A Better online presence?

Asking yourself these questions will help you review your year without a huge headache – and help ensure that you’re on track for setting realistic goals for the new year. Have any other suggestions for looking at the year in review to learn about it? Share your thoughts in the comments below.