Most agents focus on how many sales they’re making or how much commission they’re earning. But real success comes from measuring the activities that lead to those outcomes—like listings, presentations, and lead generation. That’s where the gold is.
Sports provide a great comparison. Soccer teams, for example, used to just look at wins, goals, and assists. Top teams now track everything from distance covered, sprints, and player heat maps to pass accuracy and biometric data. It’s no longer just about the scoreboard—it’s about the inputs that create the result.
Metrics That Matter
Real estate agents need to shift focus too. Here are the key metrics every agent should be tracking:
- Income goal
- Sales goal
- Listing-to-sale conversion
- Listings goal
- Listing presentation-to-listing conversion
- Listing presentations goal
- Leads goal
Income Goal
Start with the end in mind. How much do you want to earn this year before tax? Whether it’s $150,000 or $500,000, define it clearly.
Sales Goal
Once you know your income target, you can input the following into a spreadsheet:
- Average commission fee (ex GST)
- Average sale price
- GCI share
The spreadsheet will then calculate how many properties you need to sell to hit your target.
Listings Goal
Using industry benchmarks (like Macquarie’s 85% listing-to-sale ratio), you can determine how many listings you’ll need. You can adjust this to reflect your own performance.
Listing Presentations Goal
By applying a benchmark listing presentation-to-listing ratio of, say, 33%, you’ll see exactly how many listing appointments you need to book to secure enough listings.
Leads Goal
You can then calculate your lead goal. Input your lead conversion ratio, and this will tell you how many leads you need to achieve your listing presentation target.
Set a Personal Best Goal (and reward it)
I always recommend setting a Personal Best Goal for the year—a target that stretches you beyond your previous best. Then, create a reward with real emotional value.
Example Personal Best Reward:
“Take the family, in style, on an overseas holiday to cultivate lasting memories.”
When the going gets tough, that reward becomes your north star. And when you hit your target—action it. That memory becomes the fuel for next year’s success.
In Summary
- If you can’t measure it, you can’t achieve it.
- Start with your income goal (pre-tax).
- Create a spreadsheet that automatically calculates your sales, listing, presentation, and lead targets.
- Set a stretch Personal Best Goal—and reward yourself when you hit it.
