Photo Credit: Gregory Szarkiewicz
It’s that most motivated time of year – early enough in January that New Year’s resolutions are still front of mind. And if you’ve made a resolution this year to finally buy or sell property, taking advantage of that motivated feeling to plan your approach can guarantee your success in making your goal a reality.
Goal accomplishment doesn’t just happen. The only way to set yourself firmly on the course for success is to identify exactly what it is that you want, and exactly how you are going to get it.
One excellent approach for goal achievement is the SMART system that is widely talked about in the realms of time management and productivity. SMART is an acronym for Specific, Measurable, Accountable, Realistic and Time-Oriented, and it gives you a map for goal-achieving success. Here’s how you can use it to achieve all your real estate goals this year.
- Be Specific
Write a clear statement about what you want to achieve. Do you want to buy your first house? Where? When? What is your budget? Looking to invest in a rental property? How much money to you want to earn from it? Do you want to attract tourists or tenants?
- Make Your Goals Measurable
Break your goal down into parts. Identify the first step you need to take, then the second step that builds on the first. How will you get to where you want to go?
- Hold Yourself Accountable
Think about how you will hold yourself to task to ensure you take the steps you identified for yourself. If you blow your budget one month, are you prepared to sacrifice something the following month to get back in line?
- Keep it Realistic
Your goals should be ambitious, but if they’re right out of your league, you’re only setting yourself up for failure. When you identified the steps required to meet your specific goal, were they all reasonable? Will your plan withstand fluctuations in the market or changes in interest rates?
- Be Time-Oriented
Your goals need a schedule. When will you accomplish the first step? When the second? Outline your timeline clearly and with a realistic understanding of how much time each step will take.
When you follow the SMART principle to achieve your goal, you set yourself for success by making your intention clear and outlining how you will get there. This could be your year for home ownership, increased income from real estate, or that dream waterfront home you always wanted! Write it down and make it happen.
Heleen Jacobsen
Broker of Record with InfoMarket Group GMAC Real Estate
www.infomarketgroup.com
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