If you are not recording your numbers each day/ week into the Performance Coaching website…

You are missing a great opportunity.

I added several new features this year to the tracking system that can really help you with your business planning efforts going forward.

You can now track your hours, productive and non-productive.

You can input each individual sale.

You can track your sources of business.

All of these numbers are then reflected in different reports on your individual webpage on the site.

For example YTD system wide based on the numbers reported….

The ratio of $ Productive Hours to Non $-Productive hours is 2 to 1.

A $ Productive Hour is defined as time spent in the following activities: Prospecting, Conversion, Showing, Presenting, Negotiating.

All other hours are defined as Non $ – Productive.

It is very important to know how you are spending your time.

The system also shows me…

Buyer Metrics

Average Conversion Time

102

Buyer Consults per Sale

1.40

Open Houses per Sale

2.38

Offers Written per Sale

2.24

Listing Metrics

Average Sales Price

$1,080,688

SP/OP

0.87

$ per Sq. Ft

$520

DOM

54

If you starting tracking your individual sales, you will then be able to see your individual stats.

The system also is tracking the sources of business.

YTD 2017

For Listings Sold:

32% – SOI/ Referral Sources

16% – Door Knocking

15% – Past Clients

less than 10% – Marketing (including traditional and online/ social media)

For Buyers:

33% – SOI/ Referral Sources

25% – Open Houses

21% – Past Clients

10% – Agent Referrals

KNOWLEDGE = POWER!!

The system will provide the same information for your business shortly if you input each sales into the Sales Activity Report.

So again, I strongly encourage you to complete the Performance Plan, Track your numbers on The Weekly Report, and input each sales into the Sales Activity Report.

Please let me know if you have any questions on the site.

NEXT…

I just went back and reviewed all the data for the past few years.

If you want to sell a home a week or 50+ for the year…

Here is what the formula looks like.

25 Contacts per day, 5 days per week, 200 days for the year.

1 Listing Appointment per week.

2 Listings Taken per month.

A Contact to Sale Ratio of 100.

In the book Grit by Angela Duckworth she outlines the following:

Talent X Effort = Skill

Skill X Effort = Achievement

All of you were born with a certain amount of talent. It is up to you to turn that talent into skill through study, practice and repetition. Your skill is reflected in your Contact to Sale Ratio. For top producers this number varies from approximately 25 to 125.

Effort is a function of how many contacts you make each day.

DO YOU HAVE A DAILY CONTACT GOAL AND ARE YOU HITTING IT!!

Again if you use all the functions on the Performance Coaching website you will see this information immediately when you log on.

Welcome, 

My Income Goal

$750,000

My Income YTD

$183,725

My Annual Contact Goal

6,250

My Contacts YTD

1,418

My Contact to Sale Ratio

473

My $ per Contact

$130

My $ per Hour

$0

My # of Prospecting Days YTD

49

The only thing this person isn’t tracking is her hours worked. Otherwise the site would automatically calculate her $ per hour.

I really want you to understand and know these numbers and how they relate to you.

Most agents don’t understand this formula.

And most agents don’t understand their numbers.

And most agents don’t run their business based on this concept.

In other words…

Most agents are doing it the hard way!!

What about you?

When you REALLY know your numbers you can prioritize your day in the most efficient manner possible.

You can plan…

You can schedule…

You can time block…

You can execute…

And give yourself the greatest ability to hit your goals.

When you don’t run your business by the numbers…

You are just CHASING and every day is going to run into the next and it is nothing more than one big cluster**** with no time off and a tremendous amount of unnecessary stress.

There is NO WAY you can have a big goal and hit the mark… without knowing and tracking your numbers. If you do… YOU ARE LUCKY and you will have a hard time duplicating the result and/ or growing your business!!

Review the formula for doing a Deal A Week.

Understand it and understand how it relates to you and your business.

If you don’t want to work 7 days a week or the next 10 to 20 years or more…

And be left with nothing when you stop selling…

It is time to treat your business like a business.

Relying on a great personality…

Working your ass off…

Spending everything you make…

THIS IS NOT THE GOAL!!

Let’s be very clear about that!!