“Anything that is measured and watched improves,” says Bob Parsons, entrepreneur and founder of GoDaddy.com.
That’s why it’s so important to know your numbers. When you know the facts, you can invest your time and money in the most productive areas, and achieve maximum listings at minimum marketing costs. You’re real estate contact management software will be key to knowing your numbers.
Here’s an example of how this works:
Let’s say you diligently track the number of referrals you receive. You look at your numbers and realize that many of these are coming from the local Chamber of Commerce. So what do you do with this information? It’s obvious. Invest more time at that organization! You might even want to sponsor an event, or speak at a meeting.
What should you be tracking?
• Source of your real estate leads
• Number of leads vs. qualified leads
• Number of qualified real estate leads vs. presentations scheduled
• Number of presentations vs. new listings
• Percentage of listings vs. solds
• Average number of days a listing is on the market
• Selling price vs. asking price
Depending on your goals, there may be other things you’ll need to track. IXACT Contact’s real estate CRM includes pre-formatted Reports that provide much of this information at a click of the mouse. Lead source analysis, transaction reporting and much more.
Real estate sales professionals who don’t know their numbers are often easily fooled. For example, an agent might think he’s doing well because he has generated a lot of great leads. Yet, at the end of the month, he has very few listings to show for it. He’s not exactly sure why.
If, however, that agent kept track of his numbers, he would be able to clearly see the problem: a low presentation close rate. Then he would know exactly what he needs to do in order to quickly increase his listings and income – improve his presentation skills!
Don’t guess. Know your numbers. You’ll gain the in-depth understanding you need to spend your marketing time and dollars wisely.
If you don’t know or understand the key numbers that are impacting your business, you need to make a change. Start by signing up for a FREE 5 week trial of IXACT Contact now at www.ixactcontact.com!
Do you track your business metrics?
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