Real estate agents discover what your #1 key performance indicator should be. There is one performance indicator that is the most important number to focus on.
You are going to learn all about the most important key performance indicator to track in your real estate business.
After learning about this all important key performance indicator you should be focusing on, you are going to be extra prepared to measure your sucess.
This post is all about the #1 key performance indicator to track that every real estate owner should know about.
The #1 Key Performance Indicator for Real Estate Agents
Before you pick up the phone and make another call or go on another appointment, read this on Key Performance Indictors, KPI’s!
Back Story
Rick and Karey Kendrick here. We have learned this all important KPI from our coach, Todd Walters. Todd Walters is a Real Estate Coach and Mentor. Todd’s nickname is the Millionaire-Agent Maker and also the Co-Founder along with Craig Proctor of Your Home Sold Guaranteed Realty.
We have to say, our meeting Todd and Craig is one of the top three things in our lives.
Life is all about relationships! Our deal with the Craig Proctor system really started when we just decided to lean into the System all the way.
In other words, we committed and went all in.
We looked around the United States of America, really North America and Craig was really the only coach we found who was also the number one real estate agent FOR YEARS with RE/MAX.
We knew we wanted a business like that; a great real estate sales team business, selling hundreds of homes a year, with plenty of time off to pursue outside interests, even coach and train real estate agents on doing the same.
Enter, KPI’s (Key Performance Indicators)
So, Key Performance Indicators (KPI’s). What is that?
There are two kinds of indicators:
- Lagging indicators and
- Leading indicators.
Businesses use them for measurement. Okay. So Todd consistently gets asked this question a lot from his PLATINUM level coaching members members:
What’s the thing I should measure the most?
And his answer is always….. and you must take note of this; it is your APPOINTMENTS!!!
What’s the thing that gives your business the most significant impact? Is it leads? Is it closings?
For example, a closing is considered a lag indicators. On the other hand, pending sales are considered a leading indicator.
Appointments are lead indicators!
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So, for example, how many closings do you want to do?
Do you want to sell 500 homes? Do you want to sell 100 homes in a year? 300? 1,000?
Whatever the number is, it’s the measurement afterward. Does that make sense?
Remember, it’s in the past; the closing has happened already; that’s a lag indicator.
If you’re looking for something that will make your business’s biggest impact and run your business forwards and backward from this leading indicator, it’s appointments!
It’s THE getting of appointments.
So when working with agents who decide to go bigger, grow their business, sell more homes, and make more money without giving up their personal life to do it, we focus on one indicator, above all others! APPOINTMENTS!
Do you want to sell 100 homes over the next 12 months? Okay. Well, how many appointments need to be generated today to end up with 100 closings, 12 months from now?
These are the questions you need to be asking yourself, and that’s how you want to run your day, and that becomes what you time block around the most!
If you need to book three appointments a day based on conversion numbers throughout the rest of the pipeline, getting an appointment is not the same as going on the appointment.
For example, I booked an appointment today.
- What percentage of time do the appointments actually happen?
- When the appointments had happened, what percentage of time do I get a signed agreement?
- What percentage of time from the signed agreement turns into a pending sale?
There are percentages of measurement in all of those things; conversion rate.
You would agree; it’s almost impossible to get a signed agreement without an appointment. Right? How many appointments do you need to set on a day-to-day basis to achieve your goal, your ULTIMATE big goals, right? Then, you COMMIT to that number, and you do not let anything interfere with you getting it! Real estate agents are famous for failing at this!
They get appointments and then end up going on the appointments and then fail at generating NEW appointments! Agents get busy working with the customers.
Well, newsflash, if you’re a solo agent, right, you’re in; you’re COMMITTED to getting at least one new appointment a day in order to hit your goals. And then tomorrow, you’re out on the appointments, and you’re not getting new accounts, then you’re not going to hit your goal.
So you’re essentially out of business when you’re working with buyers and sellers; you’re in business when you’re consistently generating new appointments with prospects. So there you go. My encouragement is to build that into your business, this process, …on a daily basis, get APPOINTMENTS at all costs!! Let me repeat that:
On a daily basis, get APPOINTMENTS at all costs!!
Well, what does it take? You can generate leads, but then you can have people calling you through branded and database marketing that we talk about on the marketing clinics. You’ve got to follow up with the leads, or you got to have leads contacting YOU! Consistently generate appointments, and everything feeds into that and flows out of it! This is the #1 Key Performance Indicator Metric – GENERATING APPOINTMENTS – for building a Super Profitable Sales Team Business! Please…do not violate this!
Commit to the number of appointments you must get on a day-to-day basis and lock that into your schedule!!
We learned that from Craig Proctor 20 years ago, and it was a game-changer for us!
Having trouble getting qualified leads?
Having trouble making appointments?
Or, maybe you want help growing and expanding your team.
Check us out. Absolutely no obligations!
If you would like to DISCOVER more about Your Home Sold Guaranteed Realty, go to www.FloridaYHSGRFreedom.com and download an Agent Benefits Book!
Now, go and commit, make those appointments daily and Go Serve Big! When you put others first, you will never be second!
Go Serve Big!
Rick Kendrick
888-449-YHSG
email: Succes@FloridaYHSGR.com
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GO SERVE BIG! When you put others first, you will never be second!
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Phone: 888-449-YHSG | Email: Rick@RealtyYHSG.com