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Why your Real Estate Coach needs to know your numbers

I bet you know as well as anybody that one of the best ways to improve your performance is to hire a coach.

A coach will lift you to the next level more quickly -- and will create more clarity along the way.

But not everyone is ready for a coach. In reality, they can only help you if you’ve done the prep work. You need to give them a place to start, or they won’t be effective and you’re just throwing away money.

On the first call with your coach, they’ll pepper you with questions. They’ll want to know everything about you -- your values, your overall goals, your results so far and more. This will help them gain insight into what is going well, and where their help is most effective.

A coach will be much more helpful if you’ve already done a large chunk of the work… and that includes tracking your performance indices and sharing them.

Why would you share your numbers with your coach?

Save time

Your real estate coach will need to get a quick overview of your business every time you speak to them. One-on-one time with your coach is limited, you so need make the most of every minute! If you send a report to your coach ahead of your session with them, they’ll be much better prepared.

Understand where you are now

The first step to improvement is to look at the current state of your business. Where are you rockin’ it? What areas need extra attention? What are you doing that leads to positive results? Are there things you’re doing that don’t actually move the needle?

Set targets to help you improve

Once your coach has established points of improvement, they’ll help you set business targets. But, they need an objective way to track progress. Otherwise they won’t know whether you’ve hit your targets or not. It’s also a good way for you to know whether or not your coach is helping you improve. Look at the data, it won’t lie!

Plan for the future

Next to day-to-day and week-to-week targets, your coach will help you set up a long term, strategic plan. In this plan, you’ll define where you want your business to be in 5 years. This includes what kind of monthly production you’ll be making, how much effort is required, where you plan to get most of your leads from, etc...

What kind of numbers should you share?

Here’s some of the metrics your coach might be interested in:

  • Your production over the last year

  • Average sales price over the last year

  • Units sold over the last year

  • Deals you have in your pipeline

  • Average commission

  • Profits per month

There’s much more you could look at, but if you have clear visibility on even a few of these, your coach will be in a much better position to help and guide you.

The trick is to keep monitoring your numbers every day and watch your performance metrics improve over time!

12.13.18 09:30 AM By Karla