December 15, 2008

It's Time for a Self-Assessment

As we wrap up 2008, it’s a good time to self-analyze your results over the past twelve months and see how you are running your business. The following self-assessment is part of my signature class - The Realtor's Toolbox - that I created in 2005 and have delivered to numerous audiences, including several Coldwell Banker International Business Conferences. The assessment and the class focus on "tools, tips and techniques to build your real estate business."

Read each statement below and give yourself a score between 1 and 10. A 10 means the statement applies to you 24 hours a day and 7 days a week. A 1 means the statement might as well be in another language. Grade yourself as honestly as you can. Only you can determine what areas you will need to improve to become a better Realtor.

1. I have specific written goals (both short term and long term) for the things I want to accomplish

2. I have a regularly scheduled time to prospect for new business

3. I know my personal statistics and have a system in place to track them
(e.g. avg. sales price, avg. days on market, source of business, etc.)

4. I have systems in place to track where my business comes from so I can evaluate the effectiveness of my marketing methods

5. I have established a marketing budget and stick to it

6. I have a personal website or blog promoting myself and my business (not counting your local company site)

7. I hold open houses (Give yourself a 10 if you hold an open house every week; a 1 if you don't hold open houses)

8. I increase my chances for success with my open houses by advertising on the web, preparing personalized information packets and following up with all visitors.

9. I feel I am an expert on my primary market (e.g. inventory available, market values, builders, schools, neighborhoods, etc.)

10. I have a mailing list or sphere of influence of at least 250 names

11. I feel confident with my current level of technology

12. I plan to take classes in 2009 to increase my understanding of technology

13. I currently use some form of technology for my data base management (Top Producer, Outlook, Palm Pilot, etc.)

14. Rate your level of knowledge with your area’s MLS system

15. I check my email a minimum of four times a day and feel comfortable returning email to clients and potential clients

16. Rate yourself on your negotiating skills – that includes your ability to get full-fee commissions and listings priced right from the beginning

17. I feel comfortable with my telephone techniques – both incoming and outgoing

18. When using the telephone, I know how to “close for the appointment”

19. I manage my time wisely and efficiently

20. I always prioritize my tasks so my time is spent focusing on the most profitable activities.

21. I always prepare a “to do list” for daily activities

22. I am on time for all appointments, meetings and events

23. I have a system(s) in place for follow up with clients, past clients and prospects

24. I do my best to take time for personal and family enjoyment

25. I look forward to my job on a daily basis and am excited about my potential to achieve my goals in 2009.

Once you've added up your score (max.possible is 250), begin to analyze where your strengths and weaknesses are. We'll cover where to go next in our next post.

Until then, keep building relationships, solving problems and having fun!