19: Understanding the Numbers in your Business Part 3 of 3 (Mid Yr Review)
AUDIO VERSION ONLY:
Part 3 of a 3 video training series where Chadi walks you through a very comprehensive and detailed mid year review to help you discover what is working and what is not working in your business so you can make whatever needed adjustments now to reach your goals for the rest of the year.
Today Chadi is going to focus on helping you understand the numbers in your Real Estate Business.
Numbers you should be tracking on a daily basis are as follows:
- Days Worked
- Hours Prospected
- Contacts Made
- Listing Appts Set
- Listing Appts Done
- Listings Taken
- Listings Sold
- Buyer Appts
- Buyer Sales
- Closed Transactions
- Earned Income
When you start to keep track of your numbers as mentioned above then your numbers can begin to speak back to you and tell you what parts of your real estate business are working and which parts need to be improved.
Ratios that you should be looking at carefully on a monthly and quarterly basis are as follows:
- Hours Prospected per day
- Contacts per day
- Contacts per hour
- Hours prospected to listing appt done
- Contacts made to listing appt done
- Hours prospected to listing taken
- Contacts made to listing taken
- Closing ration on listing appts
- Closing ration on buyer appts to buyer sales
- income generated per contact
- income generated per hour prospected
You will never run your business like a business until you really begin to keep track of your numbers.
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Episode Resources:
Register: Live Real Estate Sales Mastery Webinar
Finish 2014 Strong (Mid Yr Review Part 1 of 3)
Part 2 of 3 Finish 2014 Strong (Mid Yr Review)