Do you want to know how to close 18 transactions and make $100,000 in 1 year working in the real estate industry?

Then check this out! I broke down all the numbers:

Here are the Key Performance Indicators also known as KPI’s

• 20 hours of prospecting per month which equals:
• 1 hour of prospecting each day Monday thru Friday from these categories:
• SOI
• Internet Leads
• Targeted Farm Prospecting
• Your GOAL is to have 200 conversations a month with prospects that may or may not be interested in real estate now or in the future.
• A conversation is considered back and forth communication with a definitive yes or no to move forward with your services.
• Keep in mind all conversations that lead to a “yes” will be either short term, mid-term or long-term nurtures added to your KV Core database.
• If your KV Core database has 300 nurtures that are being serviced properly that will lead to 1 additional closed transaction per month in the future which is not part of the KPI’s we are discussing here. This is an added bonus for your hard work.
• You can expect a 2% conversion rate on the 200 conversations per month that you have which will equal 4 appointments.
• A 2% conversion rate is industry standard and par with Resolution Realty’s agent production.
• Out of the 4 appointments that you set you can expect 50% to sign a listing agreement or a buyer’s broker agreement with you which equals 2 NEW clients.
• Your 2 new clients will go under contract but there is always 20% of your escrow pipeline that cancel.
• With 2 transactions in escrow and an industry standard 20% cancellation rate you can expect to average 1.5 closings per month out of 12-month period.

Here is how the math breaks down to earn $100,000

• 1.5 closed transactions per month is a total of 18 closings per year:
• The average home sale is $331,000 which equals a Gross Commission Income of $9,930.
• If you are on an 80/20 split for example, then the total Adjusted Commission Income will be $7,944.
• Your per closed transaction income is $7,944 which is multiplied by 18 will equal an annual income of $95,328.00+

So, there you have it! If you spend 20 hours a month prospecting, you will make 100K plus and your worth $400 per hour! Know how much your worth per hour and put it to work for yourself!