Recently, I read a piece in the Inman News talking about
our industry’s frequent overuse in our marketing of several worn out phrases
(and they weren’t talking about that old The Mamas & The Papas song!). For
example, they chided us for touting a house as “Priced to Sell” since that’s
really only telling something and the price alone should show us
the price is aggressive! Another phrase they noted was agents billing
themselves as a “Top Agent.” The writer said he wondered if there were any
“bottom” agents anymore. Again, that phrase is simply telling us
something instead of showing it! So, let’s get to work and see what we can
show!
With that in mind, now that most folks have exhausted their
store of fireworks, it’s time to recognize that we’ve already finished the
first half of our business year! The market has been pretty hot so far with a
shortage of listings and we even heard the term “seller’s market” tossed around
now and then. It’s great to get caught up in that transaction rush!
But the end of the second quarter is also a great time to make
sure we take a look at our stats to see how we’re doing compared with our
business plan, and to dig in and see what we can show our clients and
prospects!
It really pays to analyze the details of not only our sales
volume and commission dollars, including listings sold and buyers closed, but
to dig deeper into the numbers, including the percentage of your listings sold,
price reductions achieved, your average days on the market, averages ratio of
sale to list price, percent of listings won when competing, how your stats
compare versus the competition, and any patterns to be seen. Not to mention
tracking how many calls, coffees, and handwritten notes have you done so you
can optimize your referral business? Most importantly, what is your average
sale price and your average commission rate, and are they improving over
previous years?
Overall, where did you succeed, and where can you improve?
Digging deep and understanding where you’ve been so far this year—and why—is crucial to keeping you on your
plan so you can achieve your strongest year ever! Your coaches and management
team are here to help you through the process of mastering your stats,
congratulating you on your success, and aiding in planning any course
corrections.
David M. Hassler
VP,
Professional Development
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