Tracking Your Business.. Thoughts?

By
Real Estate Agent with RE/MAX Advantage Nampa, ID

I have kept a spreadsheet for every real estate transaction since I got into the business in 1996.

These last few years, I have tried to break-out from where each sale came from.  I have used categories such as: Past Client, Sphere of Influence, Ad Call, Sign Call, FSBO, etc.

A couple of years ago, I added a category; "Market recognition".. I would ask peole where they got my name or number and they have simply said, "I see you all over town, in ads, on signs, you're everywhere", so I couldn't pinpoint the real source.

the indirect, "campaign" marketing does pay off. You may not be able to monitor the results directly, but the repetition and consistency of self-promotion is certainly a viable factor in this business.

2007 was the first time I have seen substantial DIRECT results from the category; "Web lead".  My new web site began at the end of 2006 and has increased in results ever since.  I'm looking forward to the direct results I receive in 2008 from www.sellidaho.com!

There is no replacement for following up with your database and staying in contact with people who will send you referrals. 77% of my business in 2007 came as a direct result from my database in 3 different categories; "Past Client", "Sphere of Influence" (people I know) and "referrals" from both of those other categories.

They say knowledge is power and I believe tracking your business and knowing where your sales commissions originate is vital to staying in this business long term!

I would love to hear your thoughts...

Always looking our for your next move on Idaho Real Estate in the Boise real estate market,

Don Wixom RE/MAX Advantage Nampa, Idaho

www.sellidaho.com

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Rainmaker
399,213
Eric Bouler
Gardner Realtors, Licensed in La. - New Orleans, LA
Listening to your Needs
Don, thats a great idea. I have not put mine down on paper but know the numbers have changed drastically in the past 3-4 years. I have gotten into the condo niche and have really noticed that condo buyers tend to stay less time as there lifestyles and families change. You should keep in touch with these clients as they tend to have the most referrals for you. I have had to change since the floods of Katrina and adapt to the changes.  
Jan 01, 2008 01:46 PM #1
Ambassador
883,569
Lane Bailey
Century 21 Results Realty - Suwanee, GA
Realtor & Car Guy
I think it is hugely important to know as much as practical about where the business... and the profits come from.  The danger is getting so involved in tracking and crunching that one may lose focus of generating business. 
Jan 01, 2008 01:52 PM #2
Rainmaker
570,044
Bill Gillhespy
16 Sunview Blvd - Fort Myers Beach, FL
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos
Don,   Excellent post on a very important issue.  I am getting better at managing my contacts.  Now I need to do a much better job following the source of income.   Hope your New Year is te best ever !
Jan 01, 2008 01:58 PM #3
Rainmaker
342,003
Don Wixom
RE/MAX Advantage Nampa, ID - Nampa, ID
"Looking out for your next move..."tm

Eric:  That "itch cycle" is very important in our busines and probably much more obvious in the Condo Market. Keep up the good work!

Lane: Very true!  I've had agents that spend so much time "saddling up" that they never "ride". I do believe there must be some time set aside for monitoring your daily actions, changing them, adding to them & chipping away at what doesn't work.  thanks for the comments!

Don  www.sellidaho.com

 

Jan 01, 2008 02:01 PM #4
Rainmaker
342,003
Don Wixom
RE/MAX Advantage Nampa, ID - Nampa, ID
"Looking out for your next move..."tm

Thanks Bill!  It's worth the time to lay it all out & know what works!  Happy 2008... Be blessed!

 

Don Wixom 

www.sellidaho.com

 

Jan 01, 2008 02:02 PM #5
Rainer
65,951
Social Media, Email Marketing & Search Engine Optimization Specialist
PCS Online Solutions - Del Mar, CA

Hi Don,

If you can afford it, marketing every which way you can does produce results. But, like most of us, you have limited dollars. I have worked with many clients who have put all their marketing dollars into their web presense and have seen fantastic results.

But, the key is to follow up -- somehow, some way. A lead gets cold very fast if you don't keep it warm.

 Happy Sailing in 2008 ... _/) Paul -- http://www.enewslettersolutions.com/

Jan 01, 2008 02:08 PM #6
Ambassador
1,552,270
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth
Don, I love that you track business, and your numbers agree with most who I talk to - Sphere, Past Clients, and referrals. Very accurate on your part.
Jan 01, 2008 10:36 PM #7
Rainmaker
342,003
Don Wixom
RE/MAX Advantage Nampa, ID - Nampa, ID
"Looking out for your next move..."tm
Less than 9% of my business came from the internet last year.  I obviously anticipate that to grow substantially... However, it's my contacts, sphere of influence, past customers & clients that will feed me again... Nearly 80% of my business!
Jan 07, 2008 11:07 PM #8
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Rainmaker
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Don Wixom

"Looking out for your next move..."tm
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