How Much Money Are You Going To Make In 2008?

By
Real Estate Agent with International Properties and Investments LLC

What are your financial goals this new year? How much money are you going to make?goal setting in real estate

People who write down there goals will achieve them much more than those who don't. You must write them down with a pen or pencil in your hand not typing on a computer or on your palm pilot. There is some connection between the hand and the brain that makes your goal setting much more powerful.

Figure out how much money you want to make in 2008. I mean how much do you want to make in adjusted gross income, not how much total before your Broker gets their share.

Write it down. Write it in the present tense as if you already have achieved this goal.

"I am so happy and grateful now that I have earned $300,000 this year."

Now, how are you going to make this amount of money? Look at how much money you made last year and how many deals it took you to make that amount of money last year.

I find that it is easier to work with the same amount of units but to raise the amount that you are taking home out of those units.

Here are some examples of ways to raise your income but not raise the amount of work or money required.

  • Negotiate a higher percentage from your Broker or change companies to one that will give you a higher percentage but not require more outlay of expenses.
  • Increase the dollar amount of your listings. If you are listing 60 units a year in the $150,000 range just raise that to listing the same amount of units but doubling the value of those units to $300,000 per unit.
  • Stop spending money where it is being wasted like in Print Media and on more than 2 websites. Look through your expenses and see where you can curb some more spending. Every little bit will help to bring your bottom line up.

It is not about how many assistants you can hire or how many deals you can do; it is about how much of each deal do you keep? If you can raise that you will be making more money.

The other things you need to do in order to make more money in 2008 is to take time out for yourself. I like to say, work more on yourself than you do on your business. To help your bottom line, learn more and do more about bettering yourself by taking classes, reading books, meeting new people, expanding your horizons or hiring a coach or mentor.

What books are you planning on reading this new year?
What new people are you planning on meeting this new year?

In five years from now you will be same person you are today except for the books you read and the people you meet. You will also have the same income you have as those around you have. That is why they say to be successful hang out with successful people. It is contagious. Just as the opposite is.

I love the story about the crabs. If you put a bunch of crabs in a pail when one starts to climb out all the others pull him back down. Misery loves company and no one that is worse off than you wants you to climb out of the pot either so it is up to you to make the changes to attract different circumstances.

I have been coaching a couple of AR members who are having issues with their brokers who are keeping them down and not allowing them to spread their wings and fly. They need to change brokers! You need to be uplifted or else you will not make money and that is not good for the you or your broker.

So to all of us who are planning on increasing our bottom line and make more money in 2008 than we did in 2007; Here is a toast for you!

making money real estate

 

 

Contact Nestor and Katerina Gasset, CIPS, Realtors®, International Properties and Investments, Inc. Licensed Realtors® in Florida at 561-753-0135 to list your property for sale or to purchase a property in Wellington, Royal Palm Beach, Loxahatchee, Lake Worth, Hypoluxo Island, Lantana, West Palm Beach and the rest of Palm Beach County Florida. We are accepting referrals.

Copyright © 2007 By Katerina Gasset, All Rights Reserved. *How Much Money Are You Going To Make In 2008? * Contact Katerina Gasset for Customized Business and Personal Coaching.

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Ambassador
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International Properties and Investments LLC - Wellington, FL
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Joyce Mahaney Brewster

Joyce- I have a post coming up about some changes we can make for goals in this market. If you have not subscribed to my post, I invite you to do so, I have a whole bunch of coaching posts and I have about 6 new posts to write about goals just from reading the comments here on this post, so stay tuned! Your market is like ours, just not as bad! So we will have some creative ways to keep making money with what we have to work with! Katerina 

Dec 27, 2007 09:29 AM #45
Rainmaker
135,746
Scott Cowan
RE/MAX Four Seasons - Puyallup, WA

Katerina- It seems I always say great post =) Yet another "GREAT POST"

I am glad that I am back from vacation so that I can get back to work! I have my main goal written down and posted on my monitor so that I can see it when I am working on the computer. Later today I will be posting my goals in my car so that they are available to me when I am driving too.

Thanks for being such a valuable resource to all of us!

 

Best,

Scott 

Dec 27, 2007 12:51 PM #46
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Scott Cowan -Tacoma & Pierce County Area

Scott- Thank you so much for your wonderful words, they keep me enthused to keep on blogging! Katerina 

Dec 27, 2007 01:57 PM #47
Rainer
88,307
Carol Spengel
Prudential Rubloff - Wheaton, IL
Wheaton IL
Very inspirational post.  I have been reading You, Inc. The Art of Selling Yourself.  Planning and then follow thru are what it's all about.
Dec 27, 2007 02:52 PM #48
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Sherry Spengel | Wheaton IL | Prudential Spengel Realty

Sherry- I am glad you are reading books that help you grow and be all that you can be! Katerina 

Dec 27, 2007 03:10 PM #49
Rainmaker
635,972
Brian Block
RE/MAX Allegiance, Managing Broker/Branch Vice President - McLean, VA
Northern Virginia & D.C. Real Estate
Katerina, great advice.  My goal is that after writing down my annual $ goal, that I'll achieve it around 1/2 way or 3/4 way through the year and have to revise the goal upwards!  Have a great 2008.
Dec 28, 2007 06:06 AM #50
Rainmaker
451,197
Allison Stewart
St.Cloud Homes - Saint Cloud, FL
St. Cloud Fl Realtor, Osceola County Real Estate 407-616-9904
Well you know what they say.. If you plan to succeed you will. Failure is a result of lack of planning. Setting realistic goals is the key to achieving them.   Good luck and sell well.
Dec 28, 2007 06:31 AM #51
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Brian Block -- Northern Virginia & D.C. Real Estate

Brian- That is awesome, that makes you feel like a success and builds faith and confidence in reaching higher! Katerina 

Dec 28, 2007 08:01 AM #52
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Allison Stewart

Allison- Thanks for commenting. Love to have you here! Happy New Year! Katerina 

Dec 28, 2007 08:02 AM #53
Rainmaker
288,150
Vanessa Stalets
RE/MAX Elite - Brentwood, TN
REALTOR, Brentwood TN Homes, Real Estate
My Broker is a big Tony Robbins fan and aslo of The Secret. He did several seminars this year for all the brokers/affiliates. I have a "vision" board that has a bank statement that I whited out and wrote in what I wanted to see. My first year I won a sales award and di well according to industry standards. My second year I doubled my commission while selling a bit less in units but more in $$. My goal this year was to double last years and I did. My goal next year is 50% increase minimum. I love the presentense idea. See it, say it, it is already here!
Dec 28, 2007 08:59 AM #54
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Brentwood Real Estate- Vanessa Stalets

Vanessa! WOW! It does work! I am so happy that you posted your awesome success! YEAH!   Congrats! I am so happy you have a broker that knows how to help you achieve your goals! Katerina

Dec 28, 2007 09:53 AM #55
Rainmaker
499,271
Christine Bohn
RE/MAX Professionals - Gainesville, FL
Realtor, Gainesville FL

Katerina:  I have spent the day today posting expenses for Dec 07 in Quickbooks.  It's time to look at hard numbers for 2007.  My plan is to get my 2008 Goals on paper this weekend.  I have a "goal board" over my desk.  That too will get updated with my goals and business plans. 

Have a Great 2008!!  Positive Attitude with Positive Tools!

Dec 28, 2007 06:07 PM #56
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Christine Bohn, ABR, e-Pro, GRI~Gainesville, FL REALTOR~

Christine- Look at ways that you can curb those expenses in 2008; Nestor can not wait to get an electric car! I am glad you have it together with your goals and vision board! Awesome! Katerina 

Dec 28, 2007 06:26 PM #57
Rainmaker
158,177
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland
Thanks for the motivation post.  I need someone to push me to get my goals on paper.  It does help to vision in by reading them all of the time and completing things on your list.
Dec 28, 2007 06:38 PM #58
Rainmaker
865,282
Fred Carver-Top Realtor Victoria, BC
Re/Max Camosun Victoria BC Real Estate - Victoria, BC
Accredited Victoria BC Real Estate Consultant

Hi Katerina,

First...you post should be a feature port.

As usual I love your post, the timing is perfect.... well said. Writing as opposed to typing has a visual effect on us. All the trainers have us write done important points,so you remember the point.

Yes writing an action plan goes hand in hand in setting you income goals for the year, check out my short list of ideas to boast your real estate business FAST, hopefully some can benefit and help with getting going for the year. I send this every year to my list to Realtors I have in my address book.

Keep your great posts coming, you are an inspiration to us all.

HAVE AN AWESOME YEAR IN 2008!

Dec 28, 2007 06:55 PM #59
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Stella Barbour - Real Estate Agent - Serving Northern Virginia

Stella- OK here is your push! Put your goals on paper! You can do it! Thank you for reading my post! Katerina 

Dec 28, 2007 08:38 PM #60
Anonymous
Anonymous
Katerina-I've been MIA for the past couple of days and I'll tell you, it's great to be back.  It's great to see your perspective on this subject.  I have completed my business plan and you have given me some great ideas here to implement into the plan. Again thank you and Happy New Year my friend.
Dec 28, 2007 08:40 PM #61
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Fred Carver,Victoria BC Real Estate

Fred, Thanks! One of the people who read this post flagged it to be featured. But now I think it is too old to get featured. Usually not more than 24 to 48 hours old.

And you are having some fabulous response rates from the customized expired letter program we did for you! I an so excited about the calls you are getting as that is a high rate of return! I am sure you will just get this momentum going and it will become a very well set up system for you! Katerina 

Dec 28, 2007 08:41 PM #62
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Julie Neerings, GRI Utah Real Estate

Julie- do me a favor please, and email Candace and tell her I did a post on vision boards. I had her in mind when I wrote that post. Happy New Year To you too! And I look forward to your new life changes! Katerina 

Dec 28, 2007 08:43 PM #63
Anonymous
Anonymous
I sure will do that for you my friend. I know she has been a very busy gal with her new changes.  Talk to you soon and again, thank you for all that you do. 
Dec 29, 2007 12:52 AM #64
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