Importance of a Pipeline
Want more real estate tips? Facebook files
Now that you have read ‘Find Your Unique Value Proposition to Dominate Your Real Estate Market’, your leads are rolling in. How many appointments do you need to create from those leads to reach your desired income?Plug in the figures to this chart and you will see the difference 0.5 appointments make a day (or 2.5 per week) to making 1 appointment per day (5 per week), as well as the difference that the average price point makes. Although this may not seem like ‘rocket science’ the numbers are eye-opening. You can change your conversion rates or commission rates (for example, if you are an individual Agent rather than a Buyer’s Agent or on a team) on the chart by amending the purple boxes - only. This is because formulas are in the other boxes. Once you change the figures, all the numbers will amend themselves. The appointments can come from you - the Agent, or from an ISA (Inside Sales Agent). On our team, all of our Agents go through an ‘earn while you learn’ program, and our ISA’s are named CONCIERGE.
These are based on our current conversion rates at the hub, on an average price point of $250,000, and as a Buyer’s Agent. All figures are AVERAGE, tracked for a long period of time across our 15-30 deals per month. Work from your own conversion numbers to establish your own figures. This is for illustrative purposes only.
If you make one appointment per day, for 5 days a week, your gross earnings will be $157,500.
If you halve that appointment amount, your earnings drop to $78,750. That is a drop of $78,750, halving your earnings.
If you make 0.25 appointments per day, or 1.25 appointments per week, your earnings drop to $39,375 - $118,125 less.
Even when times are great, and you have written four contracts, it’s important to keep stocking your pipeline. It takes 4.2 months to receive a check from that appointment.
It takes 66 days for an appointment that has converted to become a contract.
Raising your average price point has a dramatic effect on your income (no surprises here!) At a price point of $350,000, and making an appointment a day, your income scoots up to $220,500
Link to the calculator here - copy and make your ownhttps://docs.google.com/spreadsheet...
Agents: become part of the growing AllstarCertified referral network, and benefit from the playbooks for the programs, leads, referrals and weekly coaching on how to use the programs. Keep your own branding and all of your commission. Exclusive to one team per KW market center. Facebook message me for more info, or register your interest.