Time to Cowboy Up

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Education & Training with The Real Estate Masters Institute

Time to Cowboy Up
Submitted by Jeff Bonham on March 15th, 2010
It's time to Cowboy Up!

 Cowboy Up!

Spring was here and almost gone, any excuses found over the winter are no longer valid.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 still be paying for that 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.

Always Remember, There Are No Limits!
Jeff Bonham

www.theremi.com

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Rainmaker
1,938,475
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Barrel racing here I come. Better check that girth to make sure it's cinch tight enough. Some horses bloat with little experience rides when saddle goes on, and then exhale so it is loose, slides down under the horse with the rider hanging on for dear life. And they can then take over, race back to the barn dragging Jimmy with one stirrup or clean taking him off by going a hand gallop under a tree limp to wisk him off their back. Easy does it.

Jun 11, 2010 10:44 AM #1
Rainmaker
570,359
Mykel Martin
(909) 476-9600 ~ WeLoveSellingRealEstate.com - Rancho Cucamonga, CA
Realty Masters & Associates

Great post - great comparison! I never looked at my listings that way before. :-)

Jun 11, 2010 11:24 AM #2
Rainmaker
2,726,268
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Jeff, you are right, you need to have a business plan to succeed in real estate.

Jun 12, 2010 05:01 AM #3
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Rainer
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