You’re working your as fast as they come in. You and your team are processing seller inquiries and now you have listings from your leads. Listings develop into closings (hooray!) and they’re so quickly that you can barely keep track of them. How do you handle so many sales? Many real estate agents use spreadsheets such as Excel, Works, or GoogleDocs to track their closings, commissions, stats, and goals. Let’s look at some of the ways top producing agents use real estate sales tracking spreadsheets in their everyday business. Sales Metrics The best way to get a handle on your real estate business is to track everything in a worksheet. Below are some of the calculations you can set up in Google Docs or other formula-type software. • GCI (Gross Commission Income) • Net Income (based on GCI minus expenses) and the% of gross to net • Sales Volume – closed, pending, and cancelled • Commission Summary including sides sold and client origination • Brokerage splits per transaction The best way to determine where you should spend your marketing dollars is to analyze your closed transactions and figure out where most of your sales originated from. Were they from open houses, contacting FSBOs, or referrals from your sphere of influence? Only by knowing your numbers can you evaluate the success of your advertising and promotional programs. Bookkeeping Similar to sales metrics, it’s critical to track your income, expenses, and profitability. Compare that with your budgeted amounts for the year. Have you met your target goals? Bookkeeping is critical for tax filing purposes, and as such, it may be best to use a bookkeeping software such as QuickBooks. • Financial budget • Income & Expense tracking • Profit & Loss Statement • Income goals / met Market Stats As professionals, we know our local market statistics. We use these numbers when we meet with sellers and give listing presentations.
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March 2018
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