Here’s what you need to know about tracking your real estate numbers.
In today’s intense real estate market, agents are realizing the importance of focusing on the basics and sound fundamentals. As the market becomes more competitive, tracking and honing basic skills have proven to be essential for success.
During a recent analysis of our numbers, we discovered two notable trends. Despite a 33% increase in signed buyer and seller clients compared to the same period last year, our closed sales only showed a 22% increase. This discrepancy indicates a potential shortage of inventory and heightened competition in the market. Achieving the same level of success, or even surpassing it, requires more effort and strategic planning. Furthermore, our conversations with clients have increased by 5% compared to the previous year, prompting us to communicate with a greater number of people on a daily, weekly, and monthly basis. These findings underscore the importance of tracking numbers to gain valuable insights into our business.
By diligently tracking our metrics, we can gauge our performance and identify areas for improvement. For instance, considering New Hampshire’s 25% decrease in closed sales, our 22% increase is quite remarkable. Tracking allows us to recognize our achievements within the context of the prevailing circumstances. Without tracking, it would be difficult to ascertain our progress accurately. While our agents may feel tired and frustrated due to unsuccessful offers, tracking provides a clear perspective on our overall success. It enables us to stay motivated and make informed decisions to navigate through challenging times.
Over time, our tracking methods have evolved. We have experimented with various approaches, including texting, spreadsheets, and utilizing Customer Success Analytics (CSA) tools. Each method has its merits, and their effectiveness largely depends on individual preferences. There is no one-size-fits-all approach to tracking. The key is to choose a method that works best for you and your team.
If you’re interested in learning more about tracking or exploring our success strategies, we encourage you to book a strategy session with us. Just call or email us; we are always willing to help!