Here are some tips to finish 2021 strong while preparing for next year.
Hopefully, 2021 has been a fantastic year for you. Our market has been so good that you may even be having your best year on record. This is great news, but how do you close out the year just as strong as you started?
First, I would focus on gratitude. Reach out to everyone you helped throughout 2021 and thank them for the opportunity to work with them. It’s a simple way to reconnect, and when you express gratitude to someone, they often want to express gratitude back. In real estate, when people feel grateful for your service, it can translate into referrals.
No matter which market or area you specialize in, I would suggest looking for advantages. Inventory is super low in a lot of niches, so if that’s the case for yours, reach out to prospective sellers and let them know about the opportunity available to them. Stocks are high, cryptocurrency is high, and real estate is booming, so inform your clients and help them take advantage of our conditions.
Also, our tax laws may be changing in a way that could hurt investors. However, if they sell before the law changes, they can still take advantage of our lower taxes. If you have any investing clients, inform them about our 1031 exchange laws, and let them know they still have time before taxes go up.
Finally, you want to start planning for 2022. You have until around the end of November to close on a transaction for it to end in 2021. That means the business cycle for 2022 is right around the corner. I would set aside at least half a day, preferably a full day, to work on your vision for 2022. No matter what type of agent you are, I would keep the end goal in mind — how much do you want to work, and how much do you want to make? These are obviously related, but once you get your numbers, you can divide them by 12 and get your monthly goal. There are other factors to consider, such as seasonality and what worked for you in 2021, but this is a good place to start.
I would caution against completely revamping something. Instead, take a look at what was successful and focus on improving that. If you stop and take inventory at the end of every year and focus on incremental improvements, after five or 10 years, you’ll be amazed at how much your business has improved.
Hopefully, this gave you an idea of how to finish 2021 off strong. If you have any questions about today’s topic, please call or email me. I am always willing to help.