SMART Goals for Real Estate Brokerages | Dotloop

Are Your Real Estate Goals SMART?



June 14, 2018 | comments

Creating Specific, Measurable, Achievable, Relevant and Time Limited Goals for Your Brokerage

If you don’t have SMART business goals, it’s like throwing spaghetti against the wall to see what sticks. You could get lucky and something will stick, or you could get stuck in the never-ending cycle of tossing spaghetti and wondering why it’s not sticking.


What is a SMART Goal?

How does this affect your real estate business? First, let’s define what makes a business goal SMART.

Specific Measurable Achievable Relevant Time Limited



Are you setting a “defined” end-point or target? Closed units, volume, income? For example, one agent’s goal could be to close 50 deals at an average price of $400,000 with an average commission of 2.75% and receive $550,000 GCI by focusing on a relationship-based strategy.



Can your defined goal be measured with tangible results? Can you track the results? A few examples include the number of appointments completed, contracts signed, deals closed, commissions received and income sourced. Transaction management platforms, such as dotloop for teams, make it easy to track results by providing real-time visibility into your team’s productivity.



Is your defined goal achievable? You may be thinking, “Anything is possible. Think big and have stretch goals!” But, in this instance, “achievable” means ensuring the necessary time, money, resources and technology are readily available to you. Zipi, one of dotloop’s newest integration partners, offers a helpful tool for creating achievable goals by displaying powerful insights via interactive dashboards, business reports, commission profiles and financial forecasts.



Do your goals align with your business goals, or will they distract you and throw you off course? What works for one real estate team may not work for yours. If you don’t know anything about Facebook ads, for instance, don’t spend exorbitant amounts of money on them. Instead, hire an expert who understands the social advertising space.


Time Limited

  Your goal must be measurable over a period of time. Set a deadline; otherwise, it will be extremely difficult to reverse-engineer your SMART goal into specific, time-sensitive and measurable metrics. While you may set a goal to close 1 million transactions and make $1 billion, it’s not a SMART goal until you set time parameters. Will you set out to accomplish that goal in one year, five years, a lifetime? Deadlines help shape the activities and results required to achieve your goals.

Setting SMART goals allows you to better budget your time and money by tracking what’s working, what’s not and making any necessary adjustments along the way. To learn more about Zipi and other software integration partners, click here.