Knowing your numbers is vital to measuring your success, but there is one key number you need to focus on to maintain consistency in sales and income. That number is different for each agent.
Depending on your level of business, you will want to focus on one of these:
• Open for inspections
• Appointments
• Listings
• Size of your database
Most agents need to set a number of open for inspections per week because that drives your lead generation cycle. The more openings you do, the more neighbours, potential sellers and potential market appraisals you meet, and therefore the more prospecting you can do each day.
If you are just starting out in your business you might want to set a goal for the number of appointments you make. It doesn’t matter how many hundreds of calls you make per week if those calls don’t result in face-to-face appointments. Appointments get you listing presentations, and some of those result in listings, so focus on booking those appointments.
You may be at a point in your business where you can focus more completely on the number of listings you need each month to be profitable. Your best goal may be to reach a key number of market appraisals.
The primary growth matrix for any real estate business is the size and quality of your database. A well maintained and categorized database helps you see the level of success you have reached. It also allows you to follow up on all your customers regularly. Working with people you know more than people you don’t generates referrals and keeps you relevant.
Determine the key number that best suits your needs, set that goal and work towards it. This will get you the results you need to be consistent.
As you progress in your business, make sure you look into our Josh Phegan Membership and training events.
I hope you’ve enjoyed today’s Coaching Tip, and I look forward to seeing you here again next week.
Hi Josh,
Thank you for your tips, for me as I’m new in the area of Epping my main focus has been prospecting door knocking letter box drops and allocating time for telemarketing. I have had moderate success in either getting called in for a Valuation thru my prospecting or telemarketing, my issue has been that most are just wanting a price update or a at least a few years from making any decision to sell, granted my bda is a few years old so i do understand. Any thoughts on what else i could do to target people who are ready to come on to the market place, i know that could be the million dollar question. I look forward to your reply.
Have a great day!
Thank you again,
Kind Regards,
George Stathopoulos
George, the key is to take the long term view. Where do your customers hang out before they need you? At opens and enquiring online, so go back to those in your business, even other agents in your office and get calling. Success comes from doing the work, day in day out.
JP