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July 24, 2014

Calculate ROIs to Nail Production Goals

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Calculate ROIs to Nail Production Goals

Real estate professionals looking to hit their production goals for the year need not only persistence and self-discipline but also a workable strategy to keep them on course.

This strategy should involve identifying their most profitable activities by determining the three lead generation activities that generated the greatest amount of revenue last year and the expenses associated with these activities. They should then calculate their net profit per dollar spent for each activity by dividing the total revenue by the total cost, which helps them compare which activities are most profitable so they can devote more time and money toward them.

Agents also should tackle their three highest-priority goals at the beginning of the day, as procrastinating increases the amount of energy and effort they will have to put toward these goals, and use emotional rewards to make achieving them easier.

Finally, they should determine the type of environment in which they perform best, whether boisterous or completely quiet, so they can minimize distractions and increase efficiency.

Source: "Hit Production Goals in 2014 by Ditching Least Profitable Activities," Inman News (01/20/14)

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