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Verl Workman – Tracking and Measuring Critical Data Is Key to Reaching Your Goals
Tracking and Measuring Critical Data Is Key to Reaching Your Goals
By Verl Workman
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As we jump into 2022, we need to take a deep look into what worked and what didn’t in 2021. Every successful topperforming 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 wssm@workmansuccess.com and start using it today. RE
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 wssm@ workmansuccess.com for more information and free downloadable resources.
7 Questions to Ask Yourself for a More Rewarding Real Estate Career
By the Experts at McKissock Learning
Everyone has the occasional bad day at work. But if your bad days are getting more frequent, ask yourself the following questions to figure out how you can make every day of your real estate career more enjoyable and rewarding:
No. 1: How flexible are your hours? Real estate agents consistently rank flexible hours as a reason they love their jobs. However, if your “flexible” hours mean you’re working nights and weekends, set some boundaries around your time so you can enjoy more family time or personal interests.
No. 2: Do you feel like you help people each day? Knowing you’re participating in the biggest financial decision your clients might ever make can be incredibly rewarding, but it can be easy to lose sight of this with the day-to-day hustle and bustle. Consider starting an “encouragement file” where you save positive feedback to review on the bad days. Schedule a coffee meetup with past clients to hear how much they love their home. It will remind you how valued—and valuable—you are.
No. 3: Are there more ways to share your talents? The skills you’ve developed as an agent can be put to work helping your community. Sit on the advisory board of your favorite charity, sharing your expertise on property acqui-
sitions and management. By serving others, you’ll grow more enthusiastic.
No. 4: Do you earn enough? The amount of money agents earn can have a significant impact on their feelings about their careers. If you don’t think you’re earning enough, some continuing education could help update you on emerging trends and best practices.
No. 5: Do you control your business? If your broker is exercising too much control without giving anything back, it might be time to reevaluate the brokerage relationship. Look for a brokerage that sets you up to achieve big goals and knows that putting you at the center of their business model is good for both of you.
No. 6: Are you managing your time? Poor time management could mean you’re working longer hours and getting less done. Explore strategies like time-blocking and take advantage of productivity apps to help you do more with your valuable time.
No. 7: Is there another niche where you’re better suited? Interests change over time, and the niche you started out in might not be the best fit now. Check out certifications and designations around your new niche and find a mentor who can help you create a roadmap for transitioning to your new market segment.
A dip in your enthusiasm doesn’t have to signal the end of your real estate career. It could be the beginning of a new, more rewarding one. RE
As part of the Colibri Real Estate family of premier education brands, McKissock Learning helps hundreds of thousands of real estate professionals each year achieve sustainable success throughout each stage of their career via continuing education and professional development courses.
