Does Your Business Have Bounce

Does Your Business Have Bounce

Pre-Session Goals & Career Objectives Evaluation

Describe your personal life ten years from now. (home, recreation)

______

Describe your professional life ten years from now. (community, education)

______

Describe what you want from your work in real estate. (accomplishments)

______

What is your personal life situation? (family, friends, home)

______

What are the cycles in your life?

MorningAfternoonEveningWinterSpringSummerFall

You will do your best work during those times when you feel your best and your mind is most alert.

______

What personal conditions affect your business? (Medical or physical limitations)

______

What are your five greatest strengths?

This is what you will become known for. You will find your joy and competency coming from your strengths.

1. ______

2. ______

3. ______

4. ______

5. ______

What are your five greatest weaknesses?

These are areas you might hire someone else to handle. For example, you are not good at designing flyers – find someone who is and pay them. Your time is too valuable to struggle to do something outside your expertise.

1. ______

2. ______

3. ______

4. ______

5. ______

What are your sources of business?

MailingsFace to FaceTelephoneReal Estate Signs

Flyers on SignsOpen HousesNewspaperBillboardReferrals

______

What economic factors are affecting your market?

______

What is the gross amount of income you have earned in the last 6 months? $______

What is the total number of hours spent obtaining business in the last 6 months?

Per day______

Per week______

Number of days off______(No phones or e-mail – real vacation!)

Total hours worked in 6 months______

Calculate what you are actually worth per hour by dividing the total income for that 6 month period by the total number of hours you worked.

Total Income $______divided by Total Hours Worked ____ = Earnings per hour $______

Write down what you would like to be earning per hour$______

What training will help you perform better?

______

What is your average personal percentage of the gross? ______

The amount your broker pays you out of the gross commission earned – i.e. 60%

What is your total gross income for the past 6 months?______

What is the total net income for the past 6 months?______

Gross commission X your personal percentage – i.e. 60%

What is your listing presentation to listing agreement ratio?______

Number of listing appointments divided by number of listings you write up

What percent of your business comes from Listings Sold?______

Number of listings written divided by the number of listings that actually sell.

What ratio of homes listed actually sell during the listing period?______

Your expiration ratio – if you write up 10 listings and sell 9, your ratio is 90%.

What is the average for days on the market for your listings?______

Measured from the property’s listing date to the date it actually goes under contract

What is the average listing price of properties you market?______

Add the listing price of all listings you have written divided by the number of listings

you have taken (i.e., $500,000 in total listing volume written divided by 5 listings

= $100,000 per listing average).

What is the average Listing Sold price of the properties you market?______

Add the listing sold price of all listings you have closed divided by the number of

listings you have closed (i.e., $500,000 in total listing volume closed divided by 5

listings closed = $100,000 per listing average).

What is the average list price vs. sales price ratio?______

Average listing price divided by average sales pricing of listings sold.

What is the average gross commission per Listing Sold?______

The total (gross) amount of commission you have collected on listings that have

closed divided by the total number of listings you have closed (i.e., $10,000 in gross

commissions divided by 5 listings = $2,000 per listing sold average).

What is the average net commission per Listing Sold?______

The total (gross) amount of commission you have collected on listings that have

closed divided by the total number of listings you have closed (i.e., $10,000 in gross

commissions divided by 5 listings = $2,000 per listing sold average) Multiply that

number by the agreed upon commission percentage (your commission split –

i.e. $2,000 X 60% = $1,200 per listing sold).

What percent of your business comes from sales?______

Add up your total listing volume plus your total sales contract volume. Divide that

number by the total sales contract volume closed (i.e.,$250,000 closed listing volume

+ $750,000 close sales volume divided by $500,000 closed sales volume = 75% of

your business comes from closed sales).

What is the ratio of buyers (once you meet them) who work with ______

you to those who actually buy from you?

Total number of buyers you work with divided by the total number of buyers who

close on a property with you in a set time frame.

What is the average sale price of properties you sell?______

Add the sold price of all buyer client properties you have closed divided by

the number of sold buyer properties you have closed (i.e., 500,000 in

total sales contract volume closed divided by 5 buyer properties closed

= $100,000 per buyer sold property average).

What is the average number of homes you show before a sale?______

The total number of properties you show divided by the total number of buyer

clients you close properties with (i.e., 100 properties shown divided by 10 clients

= 10 properties shown per closed client).

What is the average gross commission per sale?______

The total (gross) amount of commission you have collected on buyer properties

that have closed divided by the total number of buyers’ purchases you have

closed (i.e., $10,000 in gross commissions divided by 5 = $2,000 per sales

contract sold average).

What is the average net commission per sale?______

The total (gross) amount of commission you have collected on buyer properties

that have closed divided by the total number of buyer properties you have closed

(i.e. $10,000 in gross commissions divided by 5 buyer closed properties = 2,000

per buyer close properties sold average). Multiply that number by the agreed upon

commission percentage (your commission split – i.e. $2,000 X 60% = $1,200 per

listing sold).