The 7 Marketing KPIs You Must Track in Order to Scale Your Real Estate Business

You ever wonder why some real estate agents are able to scale their business and they seem like they have it all together. Chances are if they're truly scaling their business, they know their numbers. In today's video, I'm going to break down the seven KPIs, key performance indicators that you must track in your business. You just gotta do the work. When I talk about scaling your business, I'm talking about making an unreasonable amount of money in a very reasonable amount of time. I'm gonna reveal here in a second and I'm warning, this is like the warning lights. I'm gonna show you a spreadsheet. Most agents don't like spreadsheets, so do not click off this video. When I show you this spreadsheet, I'm gonna break down all of the key performance indicators. But I'm going to teach a whole lot of marketing lessons along the way. What works, what doesn't work, my philosophy on where to even spend time or money. Return on investment or return on time. Right. That's the only two ways that we can make money in real estate or in business in general. So I'm going to break it down for you here and I'm going to reveal the spreadsheet. Let's get the party started. So yes, there are more than seven here. So I apologize for quote unquote, you know, telling a white lie, but there are seven key categories that we're going to go over. And this is if you want to build a business that, that doesn't rely on cold calling, it doesn't rely on paid leads, and it certainly doesn't rely on the referral sources that are out there, the 30, 40 plus percent paid at closing that somehow agents are attracted to. Real quick, let me, let me just sort of stop the presses here and talk to the economic model that we're following. The reason why I don't love paid leads and the reason I don't love the referral sites, like you know, agent, there's like a hundred of them, like Homelight, Ideal Agent, and like all of them, right, is because they're out of economic model, you will not be able to scale your business. Like I said, make a lot of money. If you're paying out 30 to 40%, even buying a Zillow lead, they price them in a way where they're gonna, and you're not doing it at a closing type referral setup, they're still gonna price those leads in a way where it's roughly gonna equate to 30 to 35% or so because not every lead converts. If you're paying $150 per lead and it takes you 30 leads to get one closing there, there's your, you know, well, that'd be more than. That'd be about a third if you're earning a $15,000 commission check. So that's why we cannot play that game. And everything I'm going to go through now is going to put you in a position where you can scale your business through inbound organic leads. And you'll see inbound seller, inbound buyer, inbound referrals. You will get a copy of this scorecard. This is a weekly scorecard, and I'm going to show you how to set it up here real quick. If you click on the link in the description, you'll get a copy of it. All you need to do this is 13 weeks. 13 weeks equals a quarter. Let me lay this out for you, and this will be helpful. And like I said, it's not about the spreadsheet as much as it is my philosophy on where leads come from. So the first and most important, like if I were to sit you down and have a conversation with you about your business, I would be asking you these questions. In the last 90 days, how many inbound seller leads did you receive? How many inbound buyer leads did you receive? How many inbound referrals did you receive? Tell me about your database. How many nurtures did you add to your database in the last 90 days? How many contacts, people that know like and trust you, they actually know you are in your database? Tell me by lead source, how much GCI you have pended and closed by lead source. How about your digital presence, specifically social proof? How many reviews do you have on Google? How many reviews do you have on Zillow? How many reviews do you have on Facebook? And then I would ask you questions about your different sort of social platforms and maybe Instagram followers and website traffic and Facebook followers and friends and whatnot. So that's how I would audit your business. And this gives you the ability, once you go to the description below and download it, this gives you the ability to do that yourself. Right? You're not going to be able to make an unreasonable amount of money in a reasonable amount of time. That's my mission for you. You're not going to be able to do it unless you know your numbers and you know the levers to pull in your business. So the first thing we do, and if you ever want us to help you install the lead gen systems, the lead conversion Systems, all of our sales frameworks and even all of our client care systems just go to milliondollaragentmethod.com It's 13 weeks actually. Like this scorecard, we build it out for you and with you on your systems you own it forever and always in a 13 week implementation journey. So let's get after it here. So you are just changing this date here in cell C3. And then you probably want to give yourself some weekly targets for seller inbound leads. So let's say you want five seller inbound leads, you want 10 buyer inbound leads and you're looking to get one inbound referral per week. You want your database goal to hit 500 by the end of the quarter and then you want to have, by the end of the quarter you want to have this. These are in thousands by the way. So let's say for you, you want to hit 250,000 GCI. Let's say this is the fourth quarter and you want to get to 250 reviews, right? So you would set this up for the quarter. This is a one time setup. Now you're set up for the quarter and now you're just putting in the numbers. So that's how to use it. And you're just entering numbers in here, right as the weeks go. Okay, so let's pretend this is the first week. So seller inbound calls. If you're doing any marketing, you should have different numbers on different marketing pieces. We used Ringcentral to do that. Very cheap to acquire numbers. You can route, track, record and report on specific numbers. And you're just going to count those. If you're using your cell phone, you'll need some sort of system to keep track of that seller form fills. So on our website we would have a seller like want more information on a specific program and it was just a straight form fill on the same website. But now they have like AI driven chatbots. But we just had a little chat where they can put in their question and we would answer and we would generate a lead and then on the same website we would have seller home evaluation which was just like find out the value of your home. So you would, if you have any other ways that you generate inbound seller leads, you would put them on here and you would just total them up and you would have a goal weekly. You know these are inbound organic leads. The conversion rates are pretty high. So hopefully you have some of these and hopefully they're working. If they're not working then you have a different Problem. And we could definitely help with that. Same thing with buyer. So buyer inbound calls, yard sign calls. So this is from any marketing you're doing. These are from yard sign calls. Our yard marketing system generates three times what a normal yard sign generates. Because the way we set it up, open house leads, this is a phenomenal system. I wouldn't love doing open houses, but if you force me back into production, I would be doing open houses. And then same thing with the chat function, generating chat chat leads. So that's total inbound buyer leads. The third area is inbound referrals. So how many people reached out to you this week and sent you a referral? Or let me share this tab here. This is a site called referral rebs. So you should have a site called refer whatever. And you should be able to take information on a referral. This is refer hprea. I've exited this business. Referhprea.com so this is just a simple Google form. They still use this form. I actually sold it. Seven figure valuation. Pretty cool. So you could set up something like this. You want to make it really easy to do business with you. Right. So that's important. Right. I would ask you how many inbound seller leads, how many inbound buyer leads, how many inbound referrals. And then I would go to database and how many this past week? How many nurtures did you add to the database? You should have a number of contacts in your database, people that know like and trust you. I'm not talking cold leads. I'm talking if you ran into them in a supermarket, you would say, oh, hey, John, right? Yeah. It's nice seeing you again. How's the house going? I know it's been a while. Right. Well, hopefully you're keeping in touch with them and they know who you are. But you're adding nurtures to the database. These are new contacts or new leads from expireds or fizbos or whatever. And, and then your total number of contacts in your database. And if you have a team, we would track our teams sois well, we taught them how to build a database, so if they ever left the team, they would have a viable business. This next KPI here, we would just track the total GCI either pending or closed to this point in the year. So let's say this is fourth quarter and you've done, you know, 87. Well, that's. This was actually ours. It was, we were, we were trending over 3 million. So let's say online leads. You did a couple deals for 21,000 in GCI. Let's say you did three deals from open houses. You don't, I don't recommend mass media. We tried a little bit of it, but that was just the code for that. We do inbound leads from expired Fizbo. So we will do mailers and they will call us. I think we did like a 20x return on investment on those. Let's say you did five of those for 64,000. And let's say from your clients for life. That's your database touch system. If this number was 2257, 10% of your database with a proper touch system which we teach in our million dollar agent method, 13 weeks we build out your database touch system, your agent brand authority builder which is your online footprint and two other lead gen levers typically expires in fizbos inbound. So if you don't have those things set up in your business, definitely consider go to milliondollaragentmethod.com we'll set it up with you on your systems. You own it forever. So let's say you did eight deals from clients for life. You don't have a team, so that would be zero. We do not straight up cold calling, but we'll call around an open house or just listed, just sold and say hey, you know, doing an open house on Saturday, do you want to come pick your neighbor, stop by at 1pm or whatever. Let's say you did five deals from there, roughly. Let's you did one agent referral, right? Four grand. So it would be trending, you know, and you're just updating these numbers every week, if that makes sense. And this is what we do over here. These are just our lead source codes. We even have break these down like 101 is, is a certain lead. 201 is yard. We have three yard signs, right? And they all have different psychology built around them. One is 201, one is two or two. One is 203 open houses is 204 expireds and FSBOs. It could be, you know, expired inbound, FSBOS inbound or different types of campaigns or whatever. So you'll, you'll break these down. But that's a little advanced. You get the gist here. So then I would ask you the question, how many reviews do you have? What is it? What does social proof look like for you online? So I would ask you the question. When we started with this, it was like less than 50. It was like pretty haphazard, but 2546. So I would Ask you what is, what does yours look like? And then I'd go to Zillow and I'd see if you have a Zillow profile and you know, how many reviews on Zillow. I would go to your Facebook and see how many reviews you have there. So are you in the game when it comes to social proof? If you're not, then we've got to have a conversation about it. And if none of this stuff makes sense, we definitely have to have a conversation about it because this is what we do. This is our sweet spot. Last category here, you know, is a few metrics around your, your digital footprint. Instagram followers, website traffic, Facebook friends, potentially Facebook followers. Those sorts of things. Don't overcomplicate this. This is just to track the trends. There's not a whole lot of decisions to make with these numbers down here, if that makes sense. So hopefully this was helpful. Hopefully it wasn't overwhelming. The bottom line here is that I wanted to show you that in order to grow your business, you need to know your numbers or at least be working on those areas of your business from a marketing KPI perspective. Key performance indicators. You need to know that you're doing the right things. You're generating inbound seller leads every week, you're generating inbound buyer leads every week, you're generating inbound referrals. And you know where your business is coming from. You know that your database is growing because you're adding nurtures to the database and you're adding, you know, folks to the database each week, right? And then your digital, your social proof, you know that your Google reviews went up by what, by four reviews last week and you just hit 100 and the next target's 200. You know, all these things that I just went through, these are things you have to do if you want to make an unreasonable amount of money in a reasonable amount of time. And if you need help with this, just go to milliondollaragentmethod.com There is no hard close. There is no, you know, we're going to get people into this program that it's not a fit for. If this is a fit for you, if what we do is a fit for you, there's a seven minute video@milliondollaragentmethod.com. watch that video book in a strategy session and we'll dig into your business, where you are right now, where you want to be in the future and what is holding you back. Much love, much respect. We'll see you on the next video.