To start commercial real estate brokerage off in 2014 you really do need to know your numbers. It doesn’t matter if you work on sales, leasing or property management; you simply have to know your numbers.
Some team leaders in real estate are now talking to members of their teams about results and projections for the upcoming year.
Questions like these are really important:
- How many deals have you done this year in sales and or leasing? Split those deals up into locations and property types so you know what you have achieved on a personal basis. Compare those numbers to your fellow agents and brokers.
- How many clients do you serve now and what fees have they generated for you?
- What levels of referral business have you achieved this year?
- How successful has your online marketing been this year?
- How many exclusive listings have you created and what was the conversion or success factor in closing a deal for each?
- What volume of marketing funds have you created this year for your listings?
- How many property managements have you brought into your agency?
- What’s the size of your database and how has it grown over the year?
- What has your market done in deals this year across the different locations, property types and brokerages?
- What’s your market share on the internet, and with signboards with active listings?
These facts will help you understand just what you must do in 2014 to lift your real estate performance in commissions and listings. The numbers are really important, as is your share of market activity.
Over the last few weeks I have been writing about the importance of 2014 for real estate agents and brokers. This last month of December is the planning month where it’s time to decide what needs to be done in the coming year. By the time January arrives every broker and agent should know how they are starting the year in marketing, prospecting, and client activities.
In December and January it pays to have a very big focus on all of these things:
- Bringing on new listings in all categories (Sales, Leasing, and Property Management)
- Connecting with all of your clients to see what they are thinking and doing in property this coming year
- Canvassing all the local businesses to see what they are planning to do with property or their tenancy in the coming year
- Preparing all of your properties that are on the market now for a refresh and new approach from 15th January in promotion
- Getting more vendor paid marketing funds for upcoming promotions
- Learn from your lost listings and presentations in 2013
Constant improvement is a good concept and target when it comes to real estate clients, listings, and commissions; the only issue here is that every broker and agent has to know where they are starting from and what possibilities the property type and location can give. From that point they can plan the required actions and marketing at a personal level.
Given all of these things, now is the time to take all of these important property indicators and targets and put them into your personal marketing plan for 2014. Start the year ‘running and driving’ your marketing and listing activities with real focus. Get out into your market before any of your competitors do. Have a plan to do so that really focuses your efforts as a Top Agent. You have 4 weeks to sort out your sales and marketing plan.