The One Metric That Rules the Real Estate Industry (Do You Know Yours?)
Hey guys, let’s talk about your power base and why it matters. Your power base number is a great way to measure the health of your database. In real estate, our databases generate the majority of our sales—this has been proven time and time again.
Let’s break it down with some math, because the path is in the math:
If you have a database of 200 people, how many transactions should that generate? The ratio is simple: 10 to 1. For every 10 people in your database, you should generate one sale. So, a 200-person database should produce about 20 transactions.
That’s a general guideline. Let’s make it personal. To find your power base number, take the number of transactions you’ve closed in the past 12 months and divide it by the total number of people in your database.
For example, if you have 200 people in your database but only closed 10 transactions, divide 200 by 10. That gives you 20, meaning for every 20 people, you’re averaging one closed...
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