Why Real Estate Is an Algorithm (And How To “Hack It” to Reach Your Wildest Dreams)

I'm gonna give you some numbers that are just reality in our business that you should know. And these numbers are going to drive your success throughout your career — whether you like it or not.

Are you ready for these numbers? Here they are:

They may be slightly different for every person, but in general, across the country, here's what the numbers look like in our industry:

* For every 30 conversations you have, you'll average one closed transaction.

And I want you to remember this:

Almost every single transaction you will ever have in your career will be the result of a conversation you've had in the last two weeks. You want more closings? You're gonna have to have more conversations.

Here's another one:

* For every 10 sphere members you have in your database today, you should average one closing — assuming that you've made 20 to 50 contacts with them in the past year.

20 to 50 contacts will get you a 10 to 1 closing ratio on your current database. Your business will be a direct reflection of your database size.

If you have 100 people, expect about 10 closings. If you have no database, you can expect nothing.

And a lot of you are there, right?

If you wanna grow your business, you gotta grow your database.

Here's another one:

* For every 50 online leads you generate -- no matter how you generate them -- you're probably gonna average one closing out of those 50 leads.

It's an expensive business to be in the online lead generation business, it's not something I love. So I would look at other or avenues for success.

Here's another one:

* For every two listings appointments you go on, you'll average one listing.

Now, some people will do much better than that, but that's the average in the country.

* For every three buyer appointments you have, you'll average one closed transaction.

Some of you will do better than that, but that's the national average.

Here's another one:

* For every hundred pieces of mail you send, to any neighborhood, you'll generally average one lead.

So think about your business as being numbers driven — that this business is simply an algorithm. And you need to figure out your personal algorithm for what needs to happen in order to create your level of success.

You can take your number, your goal number of how much money you need to make or wanna make. And then just simply run the numbers backwards. And it'll tell you exactly what you need to do every single day, every single week, every single month. Until you know those numbers, you're gonna be unclear on how you can hit your targets.

Clarity is the absolute necessity for you to hit your goals. Get clarity and start working towards your numbers.

If you're serious about transforming your business and generating more high-quality leads, join The Path Performance Coaching Platform.

The Path is a mentorship and coaching program for agents and brokerages, which gives you an unfair advantage in your market.

Here's a sneak peak of what you get when you join The Path:

+ 19 Weeks of Daily On-Demand Coaching so you can find more high-quality leads more often and turn them into more listings
+ Hundreds of Downloads - System, Forms, Checklists, and scripts to make your job easier
+ Live Coaching - Multiple Times a Week
+ Goal Tracking and Activity Tracking
+ New Marketing Assets Delivered Weekly

And you get two weeks to try it out for free. Visit https://www.erealestatecoach2.com/Three%20Reasons to get started.