Key Performance Indicators (KPIs) provide an objective view of your business health. If you are not tracking these, you are running a hobby, not a business.
Essential KPIs include:
- Contacts per day: The number of real-time conversations regarding real estate.
- Set-to-Met ratio: The percentage of appointments that actually happen.
- Listing/Buyer agreement ratio: How many clients officially sign with you after a presentation.
- Cost per Lead (CPL): How much you spend on real estate marketing strategies to acquire a single lead.
- Lifetime Value of a Client (LTV): The total revenue generated from a single client through repeat business and referrals.