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Time To Cowboy Up

Education & Training with The Real Estate Masters Institute
Spring is here, any excuses found over the winter are no longer valid. It is time to Cowboy Up! Pull up the boots, strap on the spurs, get to riding. I'm not talking about a light little gallop, this is full on sprint time. If you have bought into the "winter time is slow time" then you may be paying for that for another 30-60 days while ramping things up. Take a look at your current market, what are your average Days On Market? What is your income goal? My recommendation is that you figure out your income goal and also how many listings you'd have to sell if you never came across another buyer. For example, if your income goal is $100,000 this year and your average commission is $5,000 per deal, you'd need to close at least 20 units. Then, figure out what your average days on market are and you will figure out your personal turnover ratio. This will let you know how many "Sellable" listings you need to carry at any given time. If it takes on average six months to sell your listings, you have a turnover ratio of 2. That means you need to carry 10 listings at all times if you expect to sell 20 listings this year. If you have any questions about figuring out your own listing goals, please contact me and we will explore your income goals and needs further.