I have kept a spreadsheet for every real estate transaction since I got into the business in 1996.

These last few years, I have tried to break-out from where each sale came from.  I have used categories such as: Past Client, Sphere of Influence, Ad Call, Sign Call, FSBO, etc.

A couple of years ago, I added a category; "Market recognition".. I would ask peole where they got my name or number and they have simply said, "I see you all over town, in ads, on signs, you're everywhere", so I couldn't pinpoint the real source.

the indirect, "campaign" marketing does pay off. You may not be able to monitor the results directly, but the repetition and consistency of self-promotion is certainly a viable factor in this business.

2007 was the first time I have seen substantial DIRECT results from the category; "Web lead".  My new web site began at the end of 2006 and has increased in results ever since.  I'm looking forward to the direct results I receive in 2008 from www.sellidaho.com!

There is no replacement for following up with your database and staying in contact with people who will send you referrals. 77% of my business in 2007 came as a direct result from my database in 3 different categories; "Past Client", "Sphere of Influence" (people I know) and "referrals" from both of those other categories.

They say knowledge is power and I believe tracking your business and knowing where your sales commissions originate is vital to staying in this business long term!

I would love to hear your thoughts...

Always looking our for your next move on Idaho Real Estate in the Boise real estate market,

Don Wixom RE/MAX Advantage Nampa, Idaho

www.sellidaho.com

sellidaho

Always looking out for your next move...(sm) on Idaho Real Estate,

Nampa Idaho Realtor, Don Wixom  RE/MAX Advantage  (208) 880-5039

sellidaho.com

 

 

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8 Comments on Tracking Your Business.. Thoughts?

JAN
01
2008
370,783 Points 18 Featured Posts Outside Blog Attended Rain Camp
Don, thats a great idea. I have not put mine down on paper but know the numbers have changed drastically in the past 3-4 years. I have gotten into the condo niche and have really noticed that condo buyers tend to stay less time as there lifestyles and families change. You should keep in touch with these clients as they tend to have the most referrals for you. I have had to change since the floods of Katrina and adapt to the changes.  
1:46pm • #1
882,832 Points 50 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp
I think it is hugely important to know as much as practical about where the business... and the profits come from.  The danger is getting so involved in tracking and crunching that one may lose focus of generating business. 
1:52pm • #2
569,544 Points 1 Featured Post Localism Sponsor Outside Blog
Don,   Excellent post on a very important issue.  I am getting better at managing my contacts.  Now I need to do a much better job following the source of income.   Hope your New Year is te best ever !
1:58pm • #3
339,755 Points 9 Featured Posts Called Shot Master

Eric:  That "itch cycle" is very important in our busines and probably much more obvious in the Condo Market. Keep up the good work!

Lane: Very true!  I've had agents that spend so much time "saddling up" that they never "ride". I do believe there must be some time set aside for monitoring your daily actions, changing them, adding to them & chipping away at what doesn't work.  thanks for the comments!

Don  www.sellidaho.com

 
2:01pm • #4
339,755 Points 9 Featured Posts Called Shot Master

Thanks Bill!  It's worth the time to lay it all out & know what works!  Happy 2008... Be blessed!

 

Don Wixom 

www.sellidaho.com

 
2:02pm • #5
1 Featured Post

Hi Don,

If you can afford it, marketing every which way you can does produce results. But, like most of us, you have limited dollars. I have worked with many clients who have put all their marketing dollars into their web presense and have seen fantastic results.

But, the key is to follow up -- somehow, some way. A lead gets cold very fast if you don't keep it warm.

 Happy Sailing in 2008 ... _/) Paul -- http://www.enewslettersolutions.com/
2:08pm • #6
1,329,327 Points 189 Featured Posts Outside Blog Attended Rain Camp Called Shot Master
Don, I love that you track business, and your numbers agree with most who I talk to - Sphere, Past Clients, and referrals. Very accurate on your part.
10:36pm • #7
JAN
07
2008
339,755 Points 9 Featured Posts Called Shot Master
Less than 9% of my business came from the internet last year.  I obviously anticipate that to grow substantially... However, it's my contacts, sphere of influence, past customers & clients that will feed me again... Nearly 80% of my business!
11:07pm • #8


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