Your gross revenue (your GCI) is driven entirely by this chain reaction of productivity.
With a pipeline full of leads, your next focus is to turn them into appointments, then to convert those appointments into buyer/seller listings, and finally to successfully serve your clients and help them close a deal. And here is a truth that you must never lose sight of: You can never have enough good leads. “Leads are the fuel to your economic engine. For this reason, Gary Keller points to lead generation as the single, most important activity to succeeding in real estate. And without qualified leads, you will not get any appointments. Once you plug in your numbers, the Economic Model calculations make it very clear: without appointments, you will not make any money.
“Models represent a plan that was prepared in advance and, when properly systemized, should translate into a consistent set of actions you take every month, week, or day.”
Do the Activities – Focus on Appointments, Conversion Rates That way, you’ll know what areas of your business need to improve so you can achieve your goals.
If you are new to real estate and don’t have actual conversion rates yet, review the conversion rates on page 181.
This article is the first in our “Back to Business Basics” series – one that is aimed at helping you achieve greater success by using models outlined in Gary Keller’s The Millionaire Real Estate Agent.