Learn and use these Realtor lead generation tracking fundamentals to learn why and how real estate agents should track their numbers for better results.
Realtor lead generation tracking is so important for agents focusing on their most important activities. And, that also applies to leaders in real estate.
Leaders are always complaining, “I just wish my agents would keep doing what they are supposed to be doing. If they just focused on getting new business all the time, they wouldn’t have these gaps in production, they wouldn’t worry about shifts in the market, and they would stop waiting on business to come to them.”
The same thing is true for real estate brokerage leaders and team leaders. You need to practice what you preach.
VIDEO: Realtor Lead Generation Tracking Fundamentals
There are always excuses; prevent them with Realtor lead generation tracking
Leaders often will sit and create a business plan and use the ICC Business Tracker to plan out production and conversion rates for their agents’ business, but they won’t do it for themselves.
There needs to be a focus on growth activities for leaders, too, not just agents.
We know that 33% of real estate agents won’t make it past their first year. And 87% won’t make it past 5 years. That is a high failure rate. So why wouldn’t you, as a leader, continuously be recruiting new agents to keep your organization growing despite the high turnover?
Agents make excuses for not doing their lead generation activities every day.
Leaders make similar excuses for not recruiting continuously, or engaging in retention activities for their team or brokerage.
The most common excuse is “I don’t have enough time.” Or, I hear from a lot of leaders that they aren’t trying to grow their team or brokerage because they want to “focus on the agents they have” or they don’t have a desire to become a larger team or brokerage.
Realtor lead generation tracking will help with this — for your agents and for yourself as a leader.
Get off the recruiting roller coaster with Realtor lead generation tracking
If you aren’t continuously recruiting and forming relationships with new agents to bring on to your team or brokerage, you will find that when you are hard pressed to recruit, it is intensely stressful. Suddenly, if you lose an agent or two, you are furiously trying to recruit. You are rushing things and you are not forming any meaningful relationships.
Just as agents ride a “real estate roller coaster” when they don’t consistently lead generate, leaders ride a “recruiting roller coaster” when they don’t consistently recruit.
Suddenly, leaders begin to hire out of a scarcity mindset instead of coming from a place of abundance.
You shouldn’t be waiting until you absolutely need more personnel. Ideally, recruiting should be more organic – if you are doing it consistently, it will feel more natural and less stressful.
Are you doing the daily activities you need to be doing as a leader? How can you know if you aren’t doing your own form of Realtor lead generation tracking? Your leads are your potential recruits.
With the Brokerage / Corporate Real Estate Coaching Program, ICC will help firms set up the most effective and efficient systems for recruiting, agent onboarding, commission & fee structures, agent engagement & retention systems, recruiting, administrative work-flows, transaction management, staff hiring, agent onboarding, productivity training & accountability, financials & budgeting, marketing and much more!
The Executive Team Real Estate Coaching Program is designed for a high functioning larger team. These team leaders will build their influence, structure their brokerage systems and growth, recruit, lead internal divisions to operate at a high level and leverage their time. Opportunities to add ancillary services to build wealth.
Practice what you preach: Realtor lead generation tracking for leaders
In a leadership role, you need to have empathy for your agents, who face the same struggles that you do with doing their growth activities. Just as your people need Realtor lead generation tracking, you must be doing your own form of tracking to keep yourself focused on growth.
Staying focused on growth can be hard. You understand that struggle because you have your own struggles with focusing on growth for yourself.
It is also hard to be self-aware. Leadership is so necessary, whether that be a team or brokerage leader, a mentor, or a coach. Accountability is essential and if you aren’t self aware, this is going to be a never ending cycle of struggle.
You have an opportunity as a leader to help your people and empathize with them … and then empower them to move forward.
You can have reasons or results, but you can’t have both at the same time, I assure you. It’s really important to focus your activities on growth and not waver from that focus. The most successful people in the world stay focused on growth and stay in an abundant mindset
So far, we have talked about several of our components of growth when it comes to a high-performing real estate organization:
- You need a viral goal will motivate you and your people to move forward
- Focus on the activities and Activity Based Indicators that move you toward your viral goal; do not focus solely on the results
- Create a level of public accountability (through a coach, mentor, accountability partner, leader) which then leads to personal responsibility
Now, how do we visualize all of this? On a dashboard. This is where all Realtor lead generation activities go.
Realtor lead generation tracking belongs on a dashboard
You must stay focused on key metrics at all times. These key metrics include your Realtor lead generation activities.
Much like the dashboard of your car, you want it to be clear and easy to read. You need it to display your vital numbers. And, you need to make sure it is clear of clutter so you can focus on what is most important for you to know as you drive.
A dashboard will hold you and your organization accountable for the Realtor lead generation activities that you know need to be done on a daily, weekly, and monthly basis.
What needs to be on your dashboard?
- ABIs – your Activity Based Indicators help you look out the front windshield of your business and decide where you are going. These ABIs are actionable, provide short-term motivation, and need to be tracked daily.
- This is where your growth activities go
- These are the most important items on your dashboard
- Contacts, recruiting appointments, training sessions, etc.
- RBIs – you Results Based Indicators help you look out the rear-view mirror of your business to see where you’ve been. These RBIs are not actionable, but provide long-term motivation, and need to be tracked on a monthly or quarterly basis.
- Total closed GCI, contracts written, listings taken, etc.
Dashboard rules for Realtor lead generation tracking
- Focus on your ABIs
Keep the dashboard simple
- You must be able to see if you are winning or losing at a glance
- Keep your goals SMART
- Especially the M and the T
- Measurable: break down goals and the actuals
- Time-bound: break down into weeks, months, quarters, and years
Increase retention with the Custom Training Suite
Recruiting is front and center for leaders
Recruiting is the highest-value activity in the real estate industry. It’s also the hardest activity.
There are a lot of leaders out there that are really good at taking listing appointments but they refuse to recruit – they don’t believe in it, they only do it when they absolutely need to, etc. Why? Because recruiting is a numbers game, and there is a lot of failure and rejection. It is time consuming and difficult.
That is why it is the highest-valued activity in real estate. Leaders who can recruit at a high level are the highest-paid people in the real estate industry. These are people who are able to attract agents to join their organization at a very high level. They are able to motivate agents to make big changes, and this is a huge skill.
You must do uncomfortable activities to get the result you want. This is true for most important things in life.
If you aren’t constantly recruiting, you aren’t doing your most productive growth activity. Your numbers will eventually dwindle and you will stunt your own growth, personally and as an organization.
The most successful organizations continue to recruit and stay in relationships with potential recruits.
Stay in relationship with talent so that they come to you when they are ready. This is key to successful recruiting.