A look back at my 2011 Business Goals


It was just a year ago when I made a major change in my professional plans. I went from being a company owner/partner to a sales broker working for the very company I so proudly helped grow for the last eight years.  My focus became solely to facilitate real estate transactions.  As you may know, any type of change is a little scary. There is uncertainty, doubt and the fear of loss that always lingers in the back of one's mind.  On the flip side, there's an incredible motivation to succeed.

Over my many years of selling, what I have most certainly learned about goal setting is to never set a monetary goal.  When one does, they can lose focus of the
bigger picture which in sales is client satisfaction.  If done right, and to do it right the client must see from your actions that you are truly working in their best interest. 
Then and only then will one earn the customer's implicit trust that goes beyond the existing transaction and leads to the creation a lifeline of future business. 
 
My business goals for 2011 were broken down to into three target areas.  The first was targeting a number of properties to list for sale. The second, and the most important, was to sell 100% of these properties. The third was to maintain an average above 97% of the asking price for my sellers.

In the past, there were good years where I sold 100% of the properties I
had for sale and there were years I maintained the greater than 97% average, but never both in the same year. To do this, i
t was going to take a combination of confidence, creative marketing, pricing strategies, very good negotiating and a little help from an active market. Well, in 2011 I'm proud to say, I sold 100% of the properties I had for sale and was able to maintain an average of 97.9% of an asking price.  I didn't quite reach my unit goal, but all in all, I was very pleased that two of my three goals were reached.

Funny thing about my business, I can't reach my goals without first helping
others reach their goals - giving starts the receiving process. In order to help someone, I need to take a potential hurdle (selling one's property), and provide a service solution that is only end-result measured (selling their home).  Appreciate that sometimes selling property required thinking outside the box.  The best example of this was a property I had for sale in late spring.  It was location on a premium crescent with only four or five other homes that would come close to the value or size of this property.  The home was spacious with lots of the bells and whistles that buyers would appreciate in a home.  The property was listed for $659,900 in a neighbourhood where the top end was in the $450,000 price range.  The value for this size of home and lot location, however, justified the price in our opinion.

After about five weeks we received an offer for 95.5% of the list price with a closing in eight weeks.  Both the price and the closing date were not attractive to my seller since they bought a new home that would not be completed for a further ten weeks.  The offer was countered and the completion date was changed to the seller's preferred date.  After much discussion with the buyer’s realtor, a counter offer came back at 97% with the buyer's original closing date.  This was still not considered an attractive offer by my seller, but I did learn something about the buyer in the process. They wanted this house and they wanted it in the eight weeks or nothing.  With this key information, I was able to suggest a counter that was both attractive and possibly equally compromising to both parties.  My suggestion was to counter the price back to the buyer at the full asking price ($659,900) and give the buyer's their preferred closing date.  Also, I communicated with the buyer’s realtor that the sellers would accept the 97% offer, but only with the seller's closing date 18 weeks later.  Can you guess what happened?  We sold the property for 99.35% of the asking price.  Sure my client had to make two moves, but with an extra $20,000 in their pocket, it didn’t hurt too much. This example is one of the many creative success stories I had in 2011 and can now share with you and others. They weren’t all this creative, but they were all successful.

 
So what's in store for me in 2012?  I'm working on a new set of goals!  Two goals that will not change, however, is to sell 100% of what I put on the market and to maintain a great return for the people who employ me.

How about you? What are some of your goals in 2012?  If it involves real
estate, perhaps we can help each other?

Merry Christmas and Happy Holidays!
Peter

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Peter Sardelis

Peter Sardelis

Broker
CENTURY 21 Capital Realty Inc., Brokerage*
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