As we jump into 2022, we need to take a deep look into what worked and what didn’t in 2021. Every successful top-performing agent and team that Workman Success Systems coaches has two things in common: they track the critical elements of their business that generate results; and they review the data and make needed course corrections throughout the year. By tracking key numbers (listings closed, buyers closed, gross commission, gross sales volume, etc.), agents and team leaders can make informed decisions to increase profitability. Without acting based on your business numbers, you aren’t going to reach your business goals.
Tracking and measuring data can be intimidating, but doing so will help you outline what you need to do to reach your goals and become accountable for creating specific, measurable outcomes. When agents start tracking critical data, many have trouble switching from simply working business as it comes, to deploying organizational systems and tools with clear benchmarks for their business projection. But as our coaching clients know, the results are well worth these growing pains.
Our clients are also often concerned with converting leads more effectively to increase their GCI (Gross Commission Income). If your conversion rate is low, the WSS Lead Tracker provides a solution to organize and track leads so you can spot the gaps in your business. It isn’t just a place to put leads; it effectively reports where every lead comes from and what the revenue generated from each lead source could be. Remember, each lead source should deliver at least a 6X return on investment, so if you’re not getting that, putting effort into the lead tracker is a must.
Knowing your numbers is critically important. For example, if your lead conversion rate is low, how will you know which area of your business to improve if you don’t know where the majority of your leads come from? Do you need to grow your team or work your follow-up strategies more effectively? This information can all be easily tracked and managed in the WSS Lead Tracker.
Eliminate the guesswork and start focusing on hard data, key numbers and real results. Tracking is the first step in understanding what works and what doesn’t work in your business, allowing you to make informed decisions about where to make improvements. Your real estate business can be exactly what you want it to be if you track the right things.
For a copy of the WSS Lead Tracker that we use with our coaching clients, email email@example.com and start using it today.
Verl Workman is the founder and CEO of Workman Success Systems, a real estate consulting company that specializes in performance coaching and building highly effective teams. Contact firstname.lastname@example.org for more information and free downloadable resources.