The Metrics to Measure at the Quarter Time Break

This is edition 41 of The CRE Agents' Weekly, the most-read newsletter on LinkedIn for commercial real estate agents, brokers and leaders who want specific and tactical advice that will accelerate growth in their business and elevate their motivation.

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The Metrics to Measure at the Quarter Time Break

For many high performers in commercial real estate, setting goals at the start of the year and diligently pursuing them throughout the seasons, is par for the course.

As we make our way through 2024 and reach milestones like the quarter time break (yes, we are now officially one-quarter of the way through this year...hasn’t it flown!?!), it’s the perfect time to take stock on whether your actions reflect your goals and to see if you are on track to get there.

You may not be quite a quarter of the way there yet, but you may now that doesn’t mean you are off track to your annual goal.

Alternatively, if you’re way ahead of the plan, then it could be a good time to set yourself a stretch goal.

Whatever the case, now is also a good time to consider if you’ve been getting sidetracked by metrics and activities that, in the grand scheme of things, hold little to no significance.

Sometimes we set goals and then we get distracted (this can be a form of ‘shiny object syndrome’). Other times we forget why we are doing something in the first place. Let me give you an example.

You may have set the goal of sharing more content on platforms like LinkedIn for the purposes of nurturing your existing contacts and generating new leads.

This is a worthy goal; however, the allure of social media engagement is a modern-day drug for many.

It's easy to get caught up in chasing likes and comparing your posts with others; the red icon notifications do provide a little hit of dopamine, but they are typically not success indicators.

In and of themselves, they do not directly contribute to the bottom line.

So, if you’re sharing posts that are attracting a lot of attention, but not doing anything to support your business (or are even hurting it), then it could be time for a realignment.

A better measure of success for a commercial real estate agents or broker sharing content on social media is not in the number of views or likes you get; it is in tangible outcomes that help you achieve your goals.

True progress lies in focusing on the metrics that directly impact our ability to build a personal brand (becoming known, liked and trusted), serve our clients and grow our business.

Moving beyond social media, these metrics include things like the number of appraisals conducted, submissions made, new mandates secured, the value of deals closed, and the growth of our client base.

I am not saying, however, that we should just focus on the outcomes.

It's also important to recognise the value of relevant inputs, like time invested in generating leads, prospecting and (yes) creating content that you can share, which lays the groundwork for future success.

Reflecting on our actions and their alignment with our goals involves a review of what we should start doing, stop doing, do more of, and do less of to help us get the result we want.

It's about being SMART - setting goals that are Specific, Measurable, Ambitious, Relevant, and Time-bound, and having the flexibility to adjust these goals as we progress through the year.

And it also involves considering whether any new priorities, which will inevitably arise, are worthy of you diverting your attention – or if you should be diligently sticking to the plan.

Remaining committed to the goals we've set, while also ensuring they still align with where we want to go, is a good way to strike the right balance…and taking a moment to review these quarterly feels like a good rhythm. ??

You see, it’s the capacity to adapt, to embrace new challenges, while staying true to our core objectives, that sets the top performers apart and helps them achieve bigger results on a consistent basis.

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And finally…

Be an active listener.

Improve your communication skills by actively listening to what other people are saying.

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About the author

Darren Krakowiak is the Founder of?CRE Success?and the author of?The CRE Agents’ Weekly?on LinkedIn. He works with commercial real estate leaders to accelerate growth in their business. Darren is also the host of?Commercial Real Estate Leadership; you can follow?CRE Success on YouTube.