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May '24 • Best Practices
Know your Numbers…
Work your way backwards from your income goal down to the number of hours you need to be dialing everyday.
  1. Income Goal: $100k
  2. Average commission per deal: (Average Market Sales price ✖️2.5%) $10,000 example commission per deal
  3. Number of closings needed: 10
  4. Number of listings needed: (Closings needed goal ➗ 70% List-to-close ratio) 14.29 Listings signed
  5. Number of listing appointments met: (Listings needed goal ➗ 50% Met-to-sign ratio) 28.58 Listings met
  6. Appointments set: (Listings met needed goal ➗ 50% set-to-met ratio) 57.15 Appointments set
  7. Leads needed: (Appointments set needed goal ➗ 20% Lead-to-appt ratio) 285.75 Leads generated
  8. Contacts needed: (Leads needed goal ➗ 10% Contact-to-lead ratio) 2,858 contacts
  9. Hours dialed needed: (Contacts goal ➗ 7 contacts-per-hour) 408.21 hrs needed
  10. Now take your hours on the phone needed and divide it by the number of days you’re going to work for the year and there you have it!
Disclaimer: These are general ratios but something to use as a benchmark. Every 30 and 90 days you should be measuring your actual ratios so that you can adjust all the numbers to match. This will also help you determine what areas you need to improve most. If you’re not signing 50% of your listing appointments taken, roleplay your presentation more. If you’re not getting appointments or leads for every 10% of the people you make contact with, work on your phone skills etc.
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Andrew Hamill
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Know your Numbers…
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