Gauge your own market for success!  What is your potential for success as a Realtor this year?  What do you have to do to make it better?

1997 was the last year that our home sales matched a previous year. Our  Success ratio than was 7.25 Home sales per Top producing agent in ONE MONTH.

Back in 1997, we had appx 1000 homes sale in the month of May.   We also had 2,478 Realtors in our area.    If we follow the 90/10 rule.  We will take 247 agents are probably top producers.  Those top producers do 90% of the business which equals 1800 transactions.  (1000 homes = 2000 transactions buyer and seller sides)   Now, divide 1800 by 247 and you get 7.25.  This number shows you how much of the market is there for a piece of the pie!

In 2002, the success ratio was 5.35 homes per top producing agent.

Now, this is definitely a time to mark because we had a recession.  Times were tough.  If you were selling homes in this time frame you were doing awesome!  We had more than 1100 homes sell in a months timeframe but we had 4,115 Realtors.

TODAY, the success ratio is 2.4 homes per top producing agent.

In 2002 times were tough.....but now they are twice as hard as they were back in 2002.  We have appx 1,000 homes selling in a given month however, we have 7,871 Realtors.  Your odds of being a top producer or selling a lot of homes is extremely low.    Today you have 6,750 agents that are non top producing agents fighting over 200 transactions.  Your odds in selling a home if you are a non top producer is 1 in 33.

THE OPPORTUNITY:

Whenever a market becomes commoditized its the perfect time for an industry to rise and go from Good to Great.   An awesome book to read would be Good to Great by Jim Collins.   Now is the time to build a business smart.  Those who plow through these times and learn how to grow a business just like the businesses in Good to Great will become a dominant player in the market and will be in a prime position when the market grows to dominate.

What to do about it?

The numbers show...its 3 times as hard to sell a home as it was back in 2002.  So if in 2002 we were making 25 phone calls a day.  Today we need to hit 75 phone calls a day just to keep the same pace.  We need to track our phone calls, we need to work on improving our business on a daily business.  Only those who work on it daily will come out on top. 

What are you going to do?  What do your numbers look like for your area?