Everyone tracks GCI. But if you could only track one leading indicator, what would it be?
Mine is listing appointments set, and I'll tell you why.
By the time GCI drops, I'm of the mindset that the damage was already done months ago.
Appointments tell me what my business will look like 30 to 90 days from now. That's the number I watch when I want to know if I actually have a problem. Ideally, I want to identify this before it shows up in my income.
The funnel most agents never look at
Most agents know their closings. But they have no idea where business is being lost. A simple funnel looks like this.
If closings drop, you need to know exactly where the leak happened. Otherwise you're guessing.
How to diagnose where your business is leaking
| What you're seeing | What it actually means |
|---|---|
| Lots of leads, few conversations | Follow-up problem |
| Lots of conversations, few appointments | Scripting problem |
| Lots of appointments, few signed clients | Presentation problem |
| Lots of clients, few closings | Pipeline management problem |
The KPIs every listing agent should track
- New leads
- Contacts made
- Appointments set
- Listings signed
- Closings
- GCI
- Conversion rates between each stage
Other contenders I find that are worth tracking
- Contacts made
- Conversations had
- Listings signed
- Contracts written
- Lead-to-appointment conversion rate
The best of the best agents who know these numbers can pinpoint exactly where their business is leaking. The ones who don't are just hoping closings stay up for as long as possible, and we all know that's not the best mindset.
I put together a free KPI spreadsheet that tracks all of this in one place, leads, conversations, appointments, signed clients, closings, GCI, and the conversion rate between every stage.
No email required. Just download and use it.
What would you pick as your single most important leading indicator and why?
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