There’s an incredible level of stress when total volume or average sale prices in your marketplace suddenly drop. In my Coaching Tip this week we’ll talk about growth drivers that affect your business, like average sale price, total number of transactions, your average fee, and how many annual leave days you take.
You might be surprised that annual leave is a growth driver because if you can take those days off and still write the same or more income, that indicates you’re more efficient in your office time, or you’ve scaled with a team that can list for you whilst you’re away.
You can grow regardless of market conditions if your marketplace is big enough for your aspirations. And markets are neither good nor bad, they’re just markets. You need to adapt and change with them quickly with a higher average sale price or a higher fee.
Think of your fee as simply the amount you charge for your services. Then you can adjust the fee according to the services you provide, and give your client a choice of level of service. Ultimately what the client will remember is the quality of service you provided and not the price point they paid for it.
The customer experience you provide is critical to your ability to get a better fee, but the customer has to see that experience first. We’re in the retail business that way because the customer’s first encounters with you at an open home or on the phone is their first experience of what it’s like to deal with you as an agent.
I want you to really consider that customer experience is one of your biggest growth drivers and you have to improve that experience in order to grow. Get this right and everything changes. Lead acquisition prices go down, you get better customers, and everyone will want to work with you.
I hope you’ve enjoyed today’s Coaching Tip, and I look forward to seeing you here again next week.