What are the most critical numbers in your business? Once you understand them (and apply them successfully), you can find the business growth you want and deserve to see. Today on The Real Estate Sales Podcast, Jimmy shares his tips to know the numbers that will lead to real estate success.
1. Where is your business coming from?
- Evaluate where your business comes from. Identify which sources produce the most leads, and focus more of your effort on those methods.
- Make a list of every transaction, price, date closed, and source. Was it a referral, open house, direct mail, or something else? When you break it down, you’ll realize what methods are most effective for you.
- Many realtors come to realize they’re spending a disproportionate amount of time in activities that don’t foster successful results.
2. Know the numbers in your database.
- How many people are you communicating with regularly?
- How many people are homeowners or buyers receiving up-to-date information about the market?
- The typical homeowner (in the United States) stays in their home for roughly ten and a half years. That means approximately 10% of your database of homeowners are likely interested in selling their homes. So how are you adding value to those people?
3. How many conversations do you have each day?
- On average, every fifty real estate conversations generates one transaction.
- Knowing how many conversations you have each day gives you an idea of roughly how many transactions you’ll have throughout the year.
Once you understand the numbers behind your business, you’ll be able to use them to your advantage and move closer to your goals.
Do you have a video or content idea that is perfect for your business? Share it with Jimmy! Connect with Jimmy Burgess on LinkedIn and Facebook and his YouTube channel. If you like what you heard today, we’d love it if you’d share a rating or review and then subscribe to the podcast and tell others about it as well. You can find The Real Estate Sales Podcast on Apple Podcasts, Google Podcasts, Spotify, Audible, and our website, The Real Estate Sales Podcast.