Why are you choosing not to know your numbers? We’re talking about the number of listings you need at all times to meet your monthly transaction goals, the number of sales you need to make your commission goals, etc.
There’s no mystery here: start with your required income and work your way backward based on the average sale price & commission payout. In ten minutes you can scribble it out on a napkin at the local diner, so why haven’t you done it yet?
The reason is accountability: most agents shun holding themselves accountable to meeting monthly sales goals, so they avoid setting the goals in the first place so they don’t have to deal the accountability. That means they fail to plan to meet those goals, which ensures that they continually fall short – until they eventually lose enough money they leave real estate entirely.
Get the picture? KNOW YOUR NUMBERS. As a real estate agent, you’re a business owner, and every business has to be accountable to covering its costs & producing profit. If you don’t know your numbers, you’re not only short-changing yourself, but hurting your family, colleagues, broker, and everyone else involved in any way with your business.
The market is changing, business will be harder to find, and the weaker agents will drop out of the market. It happened in 2007 and it’s happening again. There’s nothing to fear in a changing market, but it means you have to take your game up a level, and that begins with knowing your numbers and creating an action plan to meet them – or else you’ll be out of the market entirely.
In this video short, filmed on location at the 2019 Elite Success Summit in Hawaii, Tim & Julie Harris describe exactly WHY most agents shun knowing their numbers, and how it hurts them as a result. Don’t be that agent! KNOW YOUR NUMBERS.