I have spent the majority of my real estate career thinking about software and creative ways to resolve problems real estate agents experience on a daily basis. I’ve identified one of those real serious problems recently during one of my coaching sessions. I usually ask my real estate coaching clients a couple of questions during our 1 to 1 coaching sessions, which happen to take place weekly for some clients.
1. How many leads did you generate last week?
2. Where did the leads come from?
3. How much money are you likely to make from working with those leads?
And silence. Whenever I get to the 3rd question, the money question, many of the agents I coach get stumped. Why? Well, they are not thinking about the dollar and cents of the business daily & that’s the problem. On top of that, many real estate agents just aren’t tracking what I call critical sales metrics.
Every day, week, month, I look at my sales funnel. For me this started out on an excel spreadsheet where I would enter my clients name, type of client (B or S), potential sales price, potential commission percentage and potential closing date. My spreadsheet was programmed to calculate my gross commission income; my net commission income after the MLS fee, my franchise fee, split and even included a column for how much taxes I would have to put aside on each deal.
The spread sheet was useful, but not useful enough. Hence, my idea. I am working on a mobile real estate sales forecasting solution for RE agents like you and me who want to keep track of our critical sales metrics. Plus I am looking for partners who see the value in I see in a mobile solution like the one I am offering.
At the same time, if you have a project or idea you’d like us to support or promote for you, email me. I am game and open to suggestions. Do you want to see what my spreadsheet looks like? Email and I will send you screen shot. I can’t really publicize that information on here because it contains my clients real information.