Your brokers and agents should be on top of their selling game if they want to be successful in the real estate industry. Whether they need to improve their cold calling, master property tours, or simply follow up with their clients better, you should be using these five ways to measure the effectiveness of your salesforce.
Doing so can help you determine better strategies for education and training, as well as where your strengths and weaknesses lie.
It’s easy to track how many calls your agents are making, but how effective are your agents at converting these prospects into new clients? It isn’t how many calls your agents are making, it’s how effective your agents are at turning these cold calls into meetings with potential clients.
A great way to measure your agents’ calls is to listen in on calls to see how your agents are approaching each prospect and place more value on the amount of appointments your agents are setting from these calls, rather than the amount of phone calls they are making.
Pay attention to how your agents structure their calls: are they leading with a value statement? Are they garnering interest by using a “what we find” or a “sharing” statement? Are they probing for pain or opportunity?
Meetings to Proposals
Are your agents preparing for their meetings enough to turn those meetings into listings or new clients? Measure how successful your agents are at selling by taking a closer look at what they discuss in each meeting with a potential client and what their plan of action is to take the meeting to the next level.
Have your agents work on outlines for their meetings with potential clients and discuss their thoughts and approaches to the meeting beforehand. This will keep your agents focused on tackling the meeting and coming out with a new client.
Proposals to Listings
The right proposal will produce an agreement for a listing. Clients want to know that your agents understand their wants and needs and care enough to develop a proposal plan that helps them reach their goal for the transaction.
Your agents can improve proposals by making a specific list of all client needs and ensuring that in their proposal they are explaining every aspect and why it is the best option for their client. This will result in the client feeling comfortable enough to advance the proposal into a listing.
Listings to Closings
Closing a deal requires a lot of communication with the client, marketing strategies and research. For your agents to be successful at turning a listing into a closing, they need to market the property, continue to monitor the market and speak with the client often.
Qualify your target prospects tightly. Use your marketing and sales resources in the appropriate manner – high value resources to high-value prospects, more leveraged approaches to broader audiences. Measure how effective your agents are at turning calls into deals and every step in between – this will determine how successful they will be in the real estate industry and how many clients they will have.
Choose and use a CRM that best suits your business. It’s important to track all agent activities – calls, meetings, proposals, listings, marketing activities and closings. That way you can forecast your firm’s business and have visibility into each stage of the sales process. With a marketing platform like ProspectNow, you can compress your sales cycle, have total visibility into your process, and be able to evaluate how successful your salesforce is.