At iThink Property, we highly value the importance of setting weekly goals, meeting with your sales team, and sales tracking.
Our sales team gets together each Tuesday morning for an hour to talk about the week, set goals, and track our progress. We also use this time to talk strategy, KPI’s, marketing and to get advice from our colleagues.
We have set up a spreadsheet that helps us keep track of all of our listings week on week. Here is how we set it up:
- 1st column: The agent marketing the property.
- 2nd column: The property address.
- 3rd column: The current list price. This column is subject to change each week alongside price reductions.
- 4th column: Offers received throughout the campaign.
- 5th column: The alignment level. This is the most important column. It outlines the price we believe the property is worth and can be compared to the list price and offers. It will give you an idea of what kind of work you need to do in order to meet the buyers’ price perception.
- 6th column: The last column is the action required column. This is used as a space to keep any notes you need to action after the meeting.
This spreadsheet has helped our sales team stay on track this year and has also facilitated a great discussion around the type of properties listed, how they are received by the market, and how we sell them.
Some of the reasons we meet weekly are:
- Accountability – If you go into a meeting one week saying your property needs a reduction, it is then recorded in the “action required” column. This way when you come back the following week you can revisit it and tick it off. If you did not get the reduction, it then falls back on you.
- Tracking – It is also a great way for us to keep track of how many offers, the type of offers, and any other buyer feedback we have received throughout the campaign.
- Organisation – It helps keep us organised and on task. We also make sure our meetings are at the start of the week, so we can de-brief after the weekend and get ready for the rest of the week.
- To Seek Advice – Sometimes we may run into a situation that we haven’t handled before, however, another agent within our business may have. It is a great place to seek advice, gain more knowledge, and discuss our strengths and weaknesses.
In our weekly catch-up, we also revisit our KPI’s. The most common KPI’s that are great to adhere to when working as a real estate agent are:
– Setting a daily call goal
– Setting a weekly appraisal goal
– Setting weekly prospecting goals – letters/door knocking
– Setting a yearly listing goal
– Setting a yearly sale goal
Some of these KPI’s may not need to be addressed each and every week, however, it is important to check in with them each month to ensure you are on track to hitting your goals.
Alongside our weekly and monthly tracking, we also like to take part in quarterly professional and personal development days. These days serve as a great bonding exercise and they help give us a different perspective. During these sessions we address the following:
- Collection team goals: These goals are something that we can achieve as a team, such as: to gain a certain market share, to reach a certain GCI, or to sell a certain number of properties each month.
- Professional goals: These are goals that relate to our professional practice as an individual agent, such as: a certain number of sales, a certain number of listings, or a suburb market share
- Personal goals: These goals are those that relate to our personal life, this may be: to be more organised, to earn a certain amount of money, to reduce stress, etc.
Our training sessions are run by the amazing Ron Jelich and they have helped us shape the way we do business!
Ron is hosting an “Exploring Leadership During A Crisis” workshop on Thursday 24th September. If you would like to find out more information, visit our Facebook page.
Also, if you would like a bit more of a rundown on how we use our tracking spreadsheet, click here to watch our latest Think Tank Episode.