Your numbers are the measurement of your business success, or failure. In my Coaching Tip today I’ll be focusing on the numbers that are most important: listings, open for inspections and appointments. If you’re not hitting these, you’re not going anywhere.
All of your numbers matter, but your most crucial number is listings. If you don’t list enough properties you won’t make the sales you need to realize profits. Listing consistently means selling consistently, and that gives you a consistent income. But you need a target number in order to list and sell enough to meet your desired income goal.
To set your target for listings you first need to know how much income you want to generate this year. Divide that amount by your average fee and you will have the total number of listings you need. Now you can break that number down into listings per month and per week to reach your goal. But remember all your listings won’t sell, so add a buffer to make sure your sales meet your target.
Let’s say you need to sell four properties per week. You’ll need five listings every week to make at least 16 sales for the month. In order to stay consistent you must track your progress. You can’t ignore this and hope it will all even out over time, because it won’t. If you’re not listing and selling enough each week then you have to change something to improve your outcome. Tracking helps you do that.
The second most important number is your open for inspections as they’re a primary lead source for callbacks and database entries. Visitors at opens are all potential sellers and market appraisals, and many are past clients you need to keep in touch with. Put those people in your funnel and work with them.
Your third key number is how many appointments you’re booking. If your diary isn’t packed with appointments you’re losing momentum for listings and sales. Target for at least 3 appointments a day because getting in front of people, building relationships, anticipating clients’ needs and providing value drives everything you do in your business.
Doing the work that matters is defined through focusing on the numbers you must meet or exceed for listings, open for inspections and appointments. Tracking gives you the opportunity to turn things around right away. If you aren’t making your numbers then change the way you work until you see results.
I hope you’ve enjoyed today’s Coaching Tip, and I look forward to seeing you here again next week.