Today, we discuss why becoming absolutely obsessed with your key pipeline number is so important to your sales success as a real estate agent.
Do you know your key pipeline number?
Better still, are you aware what it can do for your motivation to work harder?
Click to watch the video (or simply read the transcript below) to learn more.
Caroline Bolderston, real estate coach, here with a coaching on the go moment.
Why your listing pipeline number is important
I’ve just finished a coaching session with a new agent that I’m working with. And, part of what I do is look at the business plan – a very simple business plan. And it spits out the key pipeline numbers that my agents need to work towards.
How having a number helps
What I mean by that is, how many potential listings do you need to have in your pipeline over the next 90 day period?
When you’re clear on that number it’s astonishing how it will;
- motivate you
- keep you focused
- let you know when you’re on track, off track, and
- let you know when you need to dive deep and pick up the game
So, it’s important that you get the key number right.
Why become absolutely obsessed
Now, for this particular agent (today) his key pipeline number is 27.
So, from this moment on, I’m encouraging him to be absolutely obsessed with having 27 potential listings in his pipeline.
Because, if he’s running at 15 then I know his business is in trouble, in the next 90 days.
But, if he’s running at 20 then we know he’s just got to push a little bit harder to find the missing 7.
Frame your focus
So, this pipeline number approach is now giving him a beautiful framework to follow.
And, I would make a suggestion to you that, if you need to know your key pipeline number too.
What the pipeline number takes into account is how many potential clients are going to typically push beyond the timeframe they tell you (which usually is about 40 per cent) and then it also factors in your conversion rate of ‘present-to-list’ ratio.
So, have a play with the numbers, and get your key pipeline number (and it will vary).
I’ve got some real estate agents who’ve got 15 on their key pipeline, others at 35 or 40, and I know mine was 24.
Find out your number, use this number to really drive your business and you will be absolutely blown away by the difference it makes.
If you have a genuine desire to serve your clients, work hard and become the best you can be – contact me via the section below to discuss how coaching can work for you.