Do you know what your lifetime value is as a real estate agent? Use this free spreadsheet to find out and get ready to have your best year yet!
It’s day 3 of our holiday Blog-athon!
And have we got a treat for you.
You can catch up on days 1 and 2 here:
Otherwise, let’s get into today’s post – which is all about getting you ready for 2017.
The best part?
All you need is this single spreadsheet.
Do you remember this post: 3x Your Business With This Single Spreadsheet?
If not, or if you need a refresher, that’s what we’re going to be covering today.
We talked all about replacing the word price with the word value.
And how striving to bring value to your audience everyday is what will actually increase your bottom line and help you maintain a successful business.
And what we’ve done is put together a spreadsheet that will help you determine your lifetime value.
Crazy, right?
Let’s check it out!
To get started, you’ll need the spreadsheet.
Download it below!
We’ve already calculated a few things for you, including –
Which all adds up to…
So all you have to do is enter:
Filling out this worksheet will also give you a great opportunity to reflect on the year you’ve had and further refine your goals and plans for the New Year.
After you’ve inserted these number, you can start figuring out the most effective ways of increasing your salary.
To up your commission checks, you need to start farming the areas that can make that happen. Commit to farming the areas that have an average commission check of $10,000 instead of $2-$3k.
Think about what that might look like for you.
Are there other neighborhoods for you to direct your attention towards?
Can you target a different demographic?
Is there a luxury team in your area that you can team up with to gain experience?
This is the perfect time to ask yourself these questions and come up with a plan of action.
This is also a good time to take a look back at your social media marketing efforts.
Did you run ads on Facebook or promote pins on Pinterest?
Take a look at who you targeted and how that audience responded.
How can you reframe those target demographics to make more of an impact next year?
Or, should you be marketing to a different audience entirely?
Another place to look is your referrals.
Contactually has continued to report that the #1 source of business for agents is referrals from past clients.
In the sample spreadsheet, you can see that the average is .25 referrals per client.
So that’s 1 referral for every 4 clients.
How do your current numbers compare?
Aim to get a referral every second client.
Better yet, set a goal to land a solid referral after every transaction.
Now, more than ever before, it’s easier to reach out to your satisfied clients and have them share their success story.
A problem many agents run into is that they put this off.
Maybe you want to let them get settled or wait until you have more time, but there’s no time like the present.
You’ve got to catch them in the moment.
Have them write it down, record a video or get an audio clip.
However you can best capture their joy and share it with your network.
Go above and beyond to create memorable experiences for them and this will drastically increase your salary and bottom line.
Lastly, you need to consider how you’re going to increase the number of homes per client.
Of course you can’t predict how many times people are going to move.
What you can do is target investors.
Create a section just for them on your website, or start running ads to them on Facebook.
Here are some notable takeaways from the National Association of Realtors‘ Profile of Home Buyers and Sellers that was published October 31st of this year.
Download the worksheet and fill it out before January 1st.
Let us know how it helped you prepare for 2017, and meet us back here tomorrow for day 4 of our 12 Days of Blogs Marathon!
Let’s boost your lead gen.