Real estate is all about conversations. You simply cannot sell real estate without making contact with a prospective home buyer or seller first. Today we’re going to cover the top numbers to track as a Real Estate Agent. Follow this simple formula to set your goals.
Before servicing and selling houses, we have to first find the business! That can be easily done by talking to enough people. It is just a simple math problem.
The top numbers to track as a real estate agent are all conversion ratios for important categories of your business. If you don’t know your numbers, below are some industry averages you can use for now. Then go start tracking the numbers and see where you need to improve.
Top numbers to track as a real estate agent
Set your Goals around these numbers every year
Dials made to Contacts Made 12% minimum (we find ours runs around 35-40%) Contacts made to Set Appointments 5% Set appointments to Held Appointments 70% Held appointments to Taken Clients 80% Taken Clients to Closed Transactions 80%
I realized a long time ago there’s some pretty simple math in there. It roughly works out that for every 2 appointments you set you will close one. You can improve these conversion rates but if you simply say I am going to double whatever my closed goal is, you’ll be on the right track!
Want to sell 20 homes? Set 40 qualified appointments
Want to sell 40 homes? Set 80 qualified appointments
I know what you’re thinking, but how?! Who do I call? Well that’s all part of the lead generation plan so that you have people to call, places to go to find people, etc. These numbers become the goals for the destination and the lead gen plan is the map to get there. We have a lot of episodes about lead generation – explore today!
Want to learn more about your numbers? The numbers are basically the blue print for the MREA Economic Model. Read more and set your goals for your future.
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