In a recent episode we started a conversation about conversion. There are really 2 things that make or break your ability to convert prospects into clients/customers.
Scripts and Dialogues to guide them through the pipeline
Tracking your numbers to know where you need to improve your scripts and dialogues
In real estate there is a sales pipeline. If you track your numbers you will find your conversion rates or percentages to get you from lead to closing.
How many leads do you need to get...
To have X number of Appointments
To obtain X number of taken clients/custoemrs
To write X number of offers
To pend X number of contracts
To close X number of sales
For example if you set 2 appointments and take 1 client, your conversion from Set appointment to Taken Client is 50%.
Once you have a baseline you can use that to improve. Let's say the industry average of Set appointment to taken client is 75% and you have tracked yours for a few months and it's 50%, then you need to improve and practice your appointment scripts. If you know that industry average for lead contact to set appointment is 5% and yours is 2% then you probably need to practice scripts for calling leads. These numbers can be a valuable tool to improve your skills!
If you want to take a look at industry conversion rates or what we are seeing on our team, shoot us an email onseekingthebest@gmail.com
What part of the sales pipeline do you have the most challenge with conversion?
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