A lot of agents get duped into busying themselves with administrative tasks so they feel like they are working. However, just because you’re running around your office doesn’t mean you’re productively building your business.
As Henry David Thoreau said, “It’s not enough to be busy, so are the ants. The question is, what are we busy about?
Use your time to generate new business and close more homes. How much income do you want to earn this year? Everything you do as a listing agent should reflect the goals you’ve set for your business. Tracking your numbers will give you insight to key performance indicators that align your actions with your goals. For instance, in order to sell enough homes to reach your income goal over the next twelve months, you need to work backwards to better understand what your daily prospecting effort needs to be. Using our funnel, these are the questions you need to consider for your business:
1. How many closed transactions do you need to reach your income goal? (income goal/average commission check)
2. How many listings will you need to take to reach your closing goal? (what percentage of your listings sell)
3. How many listing presentations do you need to go on to reach your listing goal? (what percentage of listing appointments convert to listing contracts?)
4. How many appointments do you need to set to hit your listing presentation goal? (what percentage of your listing appointments do you actually end up going on?)
5. How many contacts do you need to make to set an appointment? (what is your average contact number to listing appointments taken?)
6. How many leads do you need to work to hit your contact goal? (on average how many leads worked leads to a homeowner contact?)
Use Your Time To Generate New Business
Click on this infographic to get a visual of how top producing agents use their time. Every morning should be dedicated to the most important part of your business – prospecting (converting leads into listing appointments).
Based on your production goals, set weekly and daily goals for how many homeowners you need to connect with to set your desired number of listing appointments.
Prioritize your contact goals by spending however much time is necessary each morning to connect with a certain number of leads over the phone, or in person at their doorstep each day.
Do that and the rest of your day will be taken care of – follow ups, appointments, showings, etc. Investing time at the top of the funnel (converting leads to listing appointments) will allow you to fill the rest of your day with the activities that generate revenue.