If you can not get the (times 10 number, your marketing is NOT working. If your marketing is working this is the formula to apply for monthly expectations.:
((((Market activity x 10)*.3).2) .1)
Market activity = style sales + price point SALES per month
$350,000 - 60
(91 * 10) 910 (level 2 interest) leads (Interactive results ONLY!)
910 * .3 = 273 sign ups (level 3 interest) Incredibly message/relationship dependent.
273 *.2 = Respondents (Hot)
54.6 *.1 - 5.4 clients (example)
Now, how many of the 5.4 closes depends on your client selection criteria.
If you are not combining price point and style in your promotions, modify the formula accordingly meaning leave out either the 60 or the 31 in the example above.
Go ahead and plug your numbers in. You will need to do some data mining but the numbers as they apply to you, ARE available. It is easiest to apply to your current listings.
Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
Just showed a 1.275 listing yesterday to a couple who reached out from the internet.
There are also a number of inquiries that go no further than a quick reply to an intitial email.
As an aside - the dual agency controversy always pops up online, but just to share what 1 buyer told me when I asked him why he was refusing the option to find a buyer's agent, and preferred working directly with me.....he said he already had gone that route, and HAD a buyer's agent. he didn't think they worked for him.....said he still had to find listings on his own online..................he believed the listing agent was more motivated to get the house sold....and it was easier to cut to the chase....those were HIS thoughts, not mine - just thought I'd share them.
So..............since an increasingly higher percentage of buyers begin their search for a home online - it seems natural that is becoming commonplace for those leads to increase.
How Many Good Location Location Locations do you have Listings in?
With Buyers + Sellers with us.... we like to stay 60/40 Buyer/Seller
Enjoy the Holidays!
On page 150 of Gary Keller's best selling 2003 book The Millionaire Real Estate Agent, the "Natural Balance of Seller and Buyer listings" graphic details 5 subsets of seller listings sold balanced by buyer "listings" sold.
The book was based on a survey of more than 10000 agents nationwide and here are the findings:
$40K GCI = 4 listings, 6 buyers
$80K GCI = 8 listings, 11 buyers
$150K GCI = 15 listings, 16 buyers
$250K GCI = 25 listings, 25 buyers
$750K GCI = 64 listings, 56 buyers
"The graphic illustrates that, as an agent's business grows, her percentage of listings grows as well...our interviews with the best agents in the business have led us to believe that a seller listing properly marketed will consistently yield one or more buyer sales..."
Keeping track of the constently changing trends of sellers and buyers is important. No amount of good marketing will produce great results if the product (property) is priced too high. Know your market, price it right and potential buyers will come and your leads will increase. Good luck to you!
This depends on a number of considerations including:
the marketing campaign
location of the home
visibility of the home
company listed with
and what one would consider as a lead.
An actual number would be pure guess work......