What does it take to sell one Ocean City luxury home?
Ryan Haley, broker and owner of Atlantic Shores Sotheby’s International Realty, discusses what you need to consider as you set yourself up for success as a real estate agent.
Not only do you need to sell a certain number of homes each year to reach your income goal. You need to break that down further and think, what is it going to take for you to sell one home?
There are several ways you can sell a home. You might have leads that come from the internet, or you might hold open houses. You might also have a great sphere of influence that just automatically sends you business.
But for most of us, one important thing we need to do is to do some prospecting every single day that we work. We need this to reach potential clients and have conversations with them to talk about real estate that will, in turn, become appointments.
The question is, do you make enough conversations every day to get the business you need?
How Many Conversations Do You Need to Close 1 Sale?
The average realtor needs to have 40 conversations that are business-related to achieve one appointment.
But then, how many appointments does it take to actually get a sale?
You have to figure out the averages yourself as it is important to track and measure everything that you do in your business as a realtor. You have to remember that this is your business and not your regular 9-to-5 job, so you have to take it seriously.
Ryan believes that at the shore, when we’re dealing with the second-home market and/or the primary market, it will probably take you about eight to 12 appointments to close one sale or to have somebody that wants to make an offer that turns into a contract.
So when thinking about how many transactions you are targeting to close this year, think about the number of conversations it takes. With this, you have to think about your daily routine, which should include a lot of time on the phone if you’re aiming to reach a higher number by the end of the year.
To recap, you need around 40 conversations to get one appointment, and then anywhere from eight to 12 appointments to close one transaction, depending on your skill level.
Also, find out how The Haley Group helps agents deal with two common challenges that they face.