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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Tags:
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Comments 64 New Comment

Ambassador
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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 

December 28, 2007 08:38 PM
Anonymous #61
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.
December 28, 2007 08:40 PM
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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 

December 28, 2007 08:41 PM
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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 

December 28, 2007 08:43 PM
Anonymous #64
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. 
December 29, 2007 12:52 AM
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