A real-estate funnel breaks into five profit drivers: leads, conversion rate, transaction value, client retention, and referrals. Small gains in each one compound into major revenue growth. The speaker walks through worksheets to model your current metrics and shows where to focus first.
You know, we talked about this in module 6 and I want to go through something I learned in Business Mastery 2 in Fiji with Tony Robbins. Five key profit drivers. But this is what matters in real estate and this is the shift that you'll need to make when you truly become owner or even just sort of quote unquote rainmaker of your business. You need to start to think about your business as a funnel. So lead to appointment to client taken to client, sold to referrals on both sides. You have access to this in your Dropbox. And I did not create this. So this is straight from, I believe It's Business Mastery 2. We went through an exercise and I gave you all the worksheets here rather than sort of recreate any of this and claim any of it as my own. But Tony forced us to look at our business as just having different stages. So this is sort of the funnel mentality that you need to start looking at your business. So it starts with leads. So you can either increase the amount of leads or the quality of leads. And some of these, you know, it's general business training, so it doesn't apply all to real estate. But increasing not only the number of leads, but the quality of your leads and then you have the effectiveness of your sales process is the second part of the funnel. So you can use automated, you know, send people to a website to further sort of cull down the quality or send them to online or automated phone or further, for the most part we sell our leads, we answer the phone or buy our leads. We're responding, either answering a yard sign call or we're calling them back. That goes through a four step process and there's just different conversions here, which you'll see in a second what they mean and you can actually go through this process. We did it for. He had us pick one sort of thing in our business and kind of work on that. And I think I used Internet leads at the time, my boomtown platform and I went through it. So increase your sales conversion. So get more clients in terms of the number of clients closed and referral rate. Increase your transaction value, get more money so you can charge more, you can charge transaction fees, those sorts of things and then ultimately add more value, give more and get more, receive more. So deliver raving fan impeccable service to your client and have systems to follow up for referrals and convert those referrals. And then there's not much we can do to increase the frequency of purchase in real estate, but client retention in terms of communicating and client appreciation parties ongoing and the different things that we do, the giveaways we do, the chocolate giveaway, the pie giveaway, those sorts of things. So then you have worksheets in terms of optimizing and you can kind of go through these I'm not going to go through but this, this has the current number of new leads for whatever you're evaluating. So you can evaluate like a buyer Internet lead gen platform per month, per week, per day and if you can increase these slightly so you can sort of project what your optimized target would be anyway. So not sure you can do a whole lot with this without me sort of going through it. And it would probably take a couple hours to explain this. But the whole point of this is like little conversion, little increases in effectiveness in multiple areas give you a profound result. So if you're able to increase the five areas 5% each, it's not just a 5% increase, it's think it's a 27% increase or 28% increase. So it's all about meaningful conversations and appointments. So.
