The Metrics that Matter Most to a Real Estate Brokerage
Being a real estate broker, you must find out some ways to check your success rate. You should know where you have been and where you are going. To track your success rate, there are several metrics that can be used. A use of metrics can help you to evaluate your business performance and show where you need to ameliorate to meet your business goals. Below are the measurement standards that you can use to know your success rate.
Invite young talents. The more agents a brokerage will have, the more chances you will have high revenue. The best strategy to recruit young talents is creating a positive environment. You should make your business valuable to real estate agents. Agents should be provided with some benefits that will enable them to provide you long term services. These benefits could be leads and marketing tips. You should also provide incentives. This will motivate agents to convert leads into sales.
Being a real estate brokerage, you will definitely like to retain excellent performers. However, retention is an onerous task because incentives and high pays can’t always force them to cling to your firm. Find out what they are looking for and provide them with that.
Social Media Metrics
The use of social media platforms is on the rise. Many online businesses are using social media platforms to reach out global audience and real estate business is no exception. Make most of your digital marketing efforts and then target a large number of clients. However, your all efforts are going down the drain if you’re not getting response on social media platforms. You can adjust your marketing strategies by keeping an eye on social media statistics.
These platforms can enable visitors to receive regular updates. If visitors like your posts, it will have a good impact on new visitors’ minds. A large number of likes on your posts will not make your page appealing but also influence a visitors’ mind. Apart from posts, you should also upload videos on social media platforms. Videos will tell you how many people have clicked to watch your video and also how long videos have been played. You can also eye on a number of posts that have been shared by visitors. These metrics will be helpful to increase the productivity of your business, undoubtedly.
Real Estate CRM
Invest in a real estate CRM. It will give you a better idea about your business growth. Real estate CRM will whittle down all your monthly expenditures pertaining to marketing campaigns. This is quick and easy to operate. You will stay organized with the help of real estate CRM. You can also manage your business from any part of the world. You can upload and consolidate your data. You can track important contact information. Responding at right time plays paramount role in the real estate industry. With the help of real estate CRM, you won’t miss a chance to communicate with your clients. You’ll get automated tasks and appointment reminders that will enable you never to miss a communication with your clients. You will also be able to manage marketing events. This will update your new buyers’ seminars. You can be in touch with them and provide good services. The more clients you have, the more chances you will have to take your business at a high stature.
Customer Satisfaction Metrics
This is an essential domain that you should track on if you seriously want to improve your success rate. If you get succeed in satisfying your clients, your business growth ladder will go up tremendously high. Your site should have an option of reviews so that clients can share their experience through a feedback. Reviews and referrals give you a complete idea about how your clients are happy from your services. In fact, referrals and reviews are two best metrics to evaluate customer satisfaction. If you have not been seeking referrals and reviews unless now, it’s fine, but now onwards you should start asking for referrals and reviews. You can also conduct a rating survey on your site. You can ask your clients to rate your services with a 1-5 scale. Every client will rate as they like your services. This will enable you to know how many clients have liked your services. If you find majority of clients liking your services, consider your position at a good rank.
Every marketing strategy will draw traffic to your website. Your website should be enough informative and engaging. Otherwise your leads won’t convert to sales. Check total number of visits and see the bounce rate. If your site has high bounce rate, clients are not getting what they’re looking for. Also keep an eye on most popular pages of your website. Use these measurement tools to improve your success rate.