Here’s how we track our top key performance indicators to reach our goals.
Today I’m recording part of this video at the Palm Springs airport because we’re about to surprise our team with a night in Las Vegas to train, team build, and celebrate reaching a goal we set over five years ago. Our goal was to hit $100 million in sales, and we reached it within the first six months of 2021. With that in mind, today I’m sharing the top key performance indicators that we track throughout the year to ensure that we’re hitting our goals by the end of the year.
If you’ve been in the real estate business for any amount of time, you’re keenly aware that for the majority of agents, business doesn’t just fall into our laps. We have to make opportunities to connect with potential clients, and when we do, we know it’s likely that clients aren’t making a purchase immediately. This year on average, our agents nurture clients for two to three months before they get a home in escrow. So for us, one of the biggest predictors of success is the number of face-to-face conversations we have with prospective clients.
Speaking with people face to face provides us the best opportunity to show our value, create connections, build trust, and influence them. If we can meet face to face and go through our buying or listing presentation, odds are that our agent will get a signed contract. So those meetings are our focus.
The metrics that lead to those conversations are the number of calls and contacts our agents make. We have a good understanding within our team of the percentages agents should be getting of calls to contacts, contacts to appointments, and appointments to contract. I know this sounds like minutia, but those ratios are the first steps to understanding what parts of our business we excel in, what we can improve upon, and provide a guide to help us be consistent in our daily approach and master our craft. They’re the baseline for where coaching starts with our agents, and they can easily track these and other key performance indicators through their personal dashboards.
If you have any questions or would like to know more about the services we provide to our agents, reach out via phone or email. We’d love to help you.