We have all heard it from our Managers....and we all remind ourselves on occasion. "Track your stats!" We all know that having a business plan is an important part of a long successful career in real estate...or any business for that matter. And the only way to build a business plan it to have accurate and useful data and stats to help project business revenue and work that needs to be accomplished to realize that revenue.
We all would agree it is important to track listing appointments attended, listings, buyers worked with, listings closed, buyers closed, CGI, advertising budgets, etc. But I want to encourage everyone to not only track the "reactive" results stats that most of us look at, but also the "proactive" business task that generate those reactive stats. In other words, think of it this way..."track your activity, not just the results".
I learned several years ago that I can control the number of phone contacts (activity) I make each day, but I cannot control if I get an actual appointment (results) that day. So if I make 100 dials, get 30 actual conversations, and no appointments, that is still a successful day if my goal is to make 30 contacts per day. I do not worry about the fact that I did not get an appointment. Now if I had not made that conscientious decision to track the activity, not the results, my human nature would have been discouraged and I might say "ta heck with this stuff, it doesn't work!"
I would encourage everyone to start tracking a goal for daily prospecting activity. It is ok to have larger annual goals for production, but be sure to break it down to Daily Activity that you track. Don't worry so much about the daily or weekly outcomes (results) of the activity...just keep doing the activity and the results will follow on their own.
If you do not like the amount of activity you have to do, to get a certain number of results, then there are only 2 solutions....improve your skill-set to increase your "hit" ratios, or spend more time doing the activity, so you can get more results. Or, you can do a combination of both.
I hope I have imparted or reminded us all that this is a very simple business:
1) Prospect 2) Get appointments 3) Control the appointment 4) Present your listing materials 5) Price the home correctly 6) Handle objections 7) Service the listing to a sale.
We are all good at most of these...each with our own strengths and weaknesses. But think of these as links in a chain....we better be world class at all of them if we expect to last in this business.
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