This is THE LAST WORKSHEET for a while – I promise. Again, my goal is to make certain that you’re going into the real estate investment market with your eyes wide open. These worksheets should help you in dotting the I’s and crossing the T’s.
TO ACHIEVE MY LISTING INCOME:
- In my market area, the average listing commission is: (Get this figure from your broker) $_____________
- I must have the following number of listings sold per month: (#8 from yesterday’s worksheet divided by #1 above). _____________
- If only 80% of my listings sell, I have to obtain number of listings per month. (120% of #2) ______________
- It may take _______________ listing appointments to get a listing. Get this number from your broker/sales manager.
- So, I have to go on _______________ listing appointments to get my listings for the month. (#3 x #4)
- It may take _______________ contacts to get each listing appointment. Get this number from your brokers’ sales manager.
- So, I have to make _______________ contacts each month. (#5 x #6)
- I have to make _______________ contacts each week. (#7 ÷ by #4)
TO ACHIEVE MY SALES INCOME:
- In my market area, the average sales commission is $_______________ of dollars. Get this number from broker/local board.
- So, I have to make _______________ of sales each month to make my goal.
- It takes about _______________ property showings to a qualified buyer to make a sale. Get this number from your broker/sales manager.
- So, I must show _______________ properties each month.
- I have to show _______________ properties each week.
Now that you know what the numbers are, you must implement seller lead generation programs to accomplish your seller contact goals.
On the selling side, the most effective and least expensive method to obtain buyers is to have the listings previously mentioned. This method also provides necessary showing methods. Having signs up is the cheapest way to find buyers. It is also a great way to find opportunities to buy.
We’ll wrap up this investment series tomorrow so stay tuned!
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