Progress is measured by both "lead" indicators and "lag" indicators. Most agents only look at lag indicators (closed commissions), which is like looking in a rearview mirror.
To measure progress effectively:
- Track your activities daily. This includes calls made, conversations held, and appointments set.
- Monitor your conversion ratios. How many conversations does it take to get an appointment? How many appointments to get a listing?
- Evaluate your pipeline value. Calculate the potential commission of all active leads based on their likelihood of closing.
- Assess your profit margin. Gross Commission Income (GCI) is a vanity metric. Net profit is the only number that dictates business health.