How you can stay focused on the metrics that matter most to your business.
It’s easy to get too focused on the wrong thing in real estate. I see a lot of new agents spend tons of time, effort, and money on lead generation, but they haven’t put nearly as much focus on converting those leads. What if you could get an appointment for every 50 people you talk to instead of every 100? What if you could get a listing for every five appointments instead of every 10? You can do this by focusing on the right areas of your business.
For example, one time, I was calling a list of expired listings and circle prospecting leads that I had been in contact with. I set 42 listing appointments over two and a half months. I was great at setting appointments but I had a hard time getting people to meet with me. That spurred me to make a massive effort to learn what I needed to so that I didn’t have to talk to as many people.
Many of you are spending lots of money to get new leads, but you might want to focus on tapping into your sphere, going through old leads, and maybe even rubbing shoulders with people at parties. Try to do something with what you have instead of spending money to get more and still have minimal results.
You can focus on the wrong thing when you don’t track stuff. If you want to pay for something that you won’t track, you shouldn’t be spending money on it in the first place. My team uses a simple tool called scorecards, which is part of the EOS, or entrepreneur operating system.
You don’t have to construct an insane spreadsheet when you want to track something. You can keep it simple like my team and I do. We look at the leading indicators, which can tell us how we’re doing with our plans. Recently, we discussed how we’re ahead of our goal for the dial-to-contact rate, but we’re struggling with getting to the actual appointments we need. That tells us where we need to focus our efforts.
You need to have some type of focus and tracking mechanism in place. Ask yourself what will drive you to the goal and how you can track it.
If you have any questions or want some of our free tools to help you do more with less, feel free to call or email me. I’d love to hear from you.