Analyze now and regularly to ensure success…

Analysis is a key to growth both personally and professionally. For our purposes, let’s just look at your business. In your business, analysis of your team, your systems, your presentations, your market, and your results are areas to focus on to move you towards success. Begin by asking yourself, how do I want the team to be better? When analyzing this, take into consideration, what is working well and what isn’t. How can “it” be improved? Is “it” worth improving? Should “it” be replaced? How will you implement your change? How quickly should you implement the changes and most importantly, why?

As we have discussed previously, for your team to perform optimally, everyone needs to be in the right position to be able to utilize their strengths as well as compliment each other’s weaknesses to have success for your team. Proper execution with everyone in the right position will smooth the pathway to your team’s achievement. Questions to consider here are who is handling what tasks. What are their responsibilities? What do they expect to do for the team? Why are they on the team? Are they committed? Ask these questions of every team member.

You must review, revise and update your systems and processes to keep your leads and referrals coming in to the office. These pieces of the puzzle also need to be analyzed to ensure your clients are communicated with on a consistent basis and that settlements are proceeding to closing smoothly and with no “surprises”. Think about what is in place now. Who is handling the details? Where are the glitches? What areas need to be improved or updated? Do you have the right technology in place? What is working for others? How can you change your process or system with little to no interruption?

You need to analyze your total performance in regards to your presentations. Are you prepared? How have you prepared? What more can you do to prepare? Are you professionally dressed? Are your materials appropriate and in the right order? Have you Googled your subject? Reviewed Linkedin, Facebook or any other social networking site to learn more about the people you are going to be meeting?

Preparation is the key to having a solid foundation for your presentation – don’t overlook this critical step. Conversely, do you review after the presentation and critique your performance? What questions did you ask? Were they asked in the right order? Did you “dig” deep enough to get the answers to your audience so they could make the decision to move forward? How was your delivery? Who spoke more? Who controlled the conversation? Did you get the results you were expecting?

In the process of giving your clients the right information about buying and selling houses today, you need to analyze the market as well. Based upon recent sales, where are prices headed? What are the average days on market in your neighborhood? What are current inventory levels? How many months supply of houses are available? What is the makeup of your typical buyer who is buying today? What are the driving forces that are controlling the market – foreclosures, short sales and relocations or are there more arms length transactions? Are the fundamentals of low unemployment rates, job growth, salaries, etc. in place to sustain your market? How are interest rates – historically? How are inventory levels? Are there purchasers out looking to buy? Your analysis of these areas show your clients your true professionalism – know your market!

Your results are also important to analyze. Are you achieving the results you are looking for in real estate? Where is your business coming from? What are your percentages? How many calls, notes and client visits does it take to obtain a referral? How many referrals become appointments? How many appointments become clients? How many clients become transactions? What advertising venues are reaping results? Are you converting sign calls? Are you tracking internet leads? What is your average list to net sales price ratio for buyers and sellers? What are your average days on market for sellers? It is extremely important for you to know your conversion rate. Another area to look at is your efforts and efficiency. Ask for feedback from peers, clients and other industry professionals and ask “how am I doing?” Analyze your results and success will follow. Utilization of the question –“how much for how many?” will serve you well in during this step.

Analysis, on a consistent, basis is critical to your success – start today and you will be on your way. Get it? Got it? Good!