Just finished listening to Brad Andersohn from Zillow.com speak to RainCamp on how to acheive your financial goals.
He started by dating himself explaining that the first time he heard the following, it was from Mike Ferry, Tom Ferry's father. "The National Association of Realtors reports on average it takes 35 contacts to get 1 appointment, and 4 appointments to close one sale," Brad followed that up by saying he felt that an extremely conservative estimate.
He then began to help us understand and apply that statistic by asking us to answer these 7 questions:
- What is the average sales price of the homes you are working with?
- What is your commission average?
- What s your broker/office split?
- How many days a week will you work?
- How many hours a day will you work?
- How many weeks do you need for vacation?
- How much do you need to earn to live?
He then shared this spreadsheet: http://agentassist.wordpress.com/sample/
You can take the answers to the questions above and plug them into his spreadsheet. It will give you some great breakdowns on the number of people you need to meet, set appointments with and ultimately close based on your goals.
It was really cool!
***Brad's point: "You have to be meeting people and making appointments everyday to meet your goals, if you do that regardless of the way you meet them, you will acheive what you have set out to."
Brad's guarantee - "If you honestly fill out his spreadsheet and follow the guidelines set out by it, and you don't meet your goals by the end of the year - we will fly out, pick you up, and take you to dinner anywhere you want to go."
Here is his AR blog - http://activerain.com/blogs/activebrad - His twitter handle is @BradAndersohn (Just in case you need to take him up on his guarantee!)
One other tidbit I thought was great - Brad on, "How to farm FSBO?"
- Stop your car in front of their house.
- Get out of your car.
- Go up to the door and knock! (They won't come out with a gun.)
- Tell them, you represent buyers and you think there home may be perfect for one of them, can you take a tour and see if it is right for one of your buyers!!!
- Be friendly, get their info.
My add on: Follow up regularly, not with sell, sell, sell - but in a friendly way that will you build a relationship. Using a relationship marketing and customer retention service that offers a great, non-evasive way to follow up with your potential customers can be key in getting and retaining relationships with potential and existing clients.