You don’t have to be a mathematician to be a great realtor.
But there are a few number-related things worth knowing if you want to rise to become one of the industry’s best agents. Its definitely a differentiator in the real estate industry to have insight and information that your competition does not. Its also a competitive advantage to understand the market better than your competition.
Over the years, the team and I have partnered with agents from all across Canada. We’ve worked with some of the best and we’ve learned from them too. We have noticed that the realtors who know their numbers (the facts and figures Im going to share with you today) are always the most impressive and leads are more likely to take notice.
Below are 11stats about your own productivity and the industry as a whole that every agent needs to know (and remember).
Your Own Personal Effectiveness
- List to sale ratio
- Average number of days your listings spend on the market
- Percentage of listings that actually sell
- All of the above for your competitors
- Number of homes that have sold in your market area during the last 12 months
- Number of listings that have come on the market in the last 12 months
- Number of houses in your market area
- Months of inventory that exist in your market today (i.e., if no other homes were ever listed in your market, how long it would take to sell out based on your current inventory)
- How much penetration the dominant player in your marketplace has
- Your year-over-year growth in sales
- Number of new construction, single-family and multi-family starts year to date
- Number of homes that have failed to sell so far this year
If any of these stats seem a bit daunting to identify, we promise that once you learn them, its not even as difficult as that grade 12 algebra exam. At Royal LePage Atlantic, we offer training and support for our agents on the regular basis to ensure they know how to monitor their own numbers as well as important numbers about their market and the real estate industry as a whole.
If you’re interested in learning more about Royal LePage Atlantic and how we work with some of the most successful agents in the region, please get in touch – Wwe’d love to chat.