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Scenario 3. An agent calls you regarding a property you’ve listed, which currently has an accepted offer — with contingencies. The agent wants to know what the status is on offers and contingencies, and you curtly reply, “I’m not at liberty to discuss.”. Verdict: You’ve just committed an ethics code violation.
- Monthly Production
- Days on Market
- Sale Price vs. List Price
- Sales Volume
- Pending Commissions
Agent productivity is a vital metric to track. It’s the metric most directly related to your bottom line—company dollar. The number of closed transactions that each agent completes contributes to your total revenue. This is true whether your agents pay a flat fee to your real estate agency or whether they’re on traditional splits. Annual production...
The second metric to track closely is the time that agents’ official listings remain actively listed on the real estate market— referred to as days on market (DoM). Days on market is simply the number of days the property is listed for sale on the multiple listings service (MLS) before it’s under contract. Often, this can indicate an area of quick ...
Similar to days on market, the difference between the list price and the final purchase price (sale price) is another key metric to measure performance on a monthly basis. A price that needs to be lowered to get real estate sold doesn’t look good and often means that the property becomes stale. On the other hand, pricing a property too low means yo...
Sales volume is a prevalent metric of success—and one that’s often associated with ability. Real estate agents and brokerages alike use sales volume as a way to demonstrate their influence and performance. An agent’s sales volume is simply the total value of all closed transactions by sales price. As a number reported annually, this value is often ...
Of all the real estate agent performance metrics to track, pending commissions are one of the most important ones for any brokerage. Pending commissions will help you forecast future revenue and make decisions based on what’s in the pipeline. Calculating pending commissions is done differently based on the way in which your brokerage makes money. F...
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Nov 13, 2023 · A Realtor is a real estate agent who is a dues-paying member of the National Association of Realtors. NAR members are held to a high standard of professionalism and adhere to a strict code of ethics. Refinance. If a borrower takes out a new loan on the same property, it’s called a refinance.
Mar 19, 2024 · For decades, real estate commissions have been somewhat standardized, with most home sellers paying 5% to 6% commission to cover both the listing agent and the buyer’s agent. On Friday ...
- jack.flemming@latimes.com
- Staff Writer
Nov 27, 2017 · Inside Sales Agent Scripts for Real Estate - Use these ISA scripts & best practices for inside sales agents on real estate teams to nurture & convert leads
Apr 16, 2024 · The Oxford Dictionary defines contingency as “a future event or circumstance which is possible but cannot be predicted with certainty; A provision for an unforeseen event or circumstance; An incidental expense.” The contingency definition in a real estate contract is a condition that must be fulfilled for the transaction to move forward ...
4-Credit Hour Online course bundle. $60 for members of the Residential Real Estate Council (RRC) $75 for non-members. Annual Dues. None. For more information, visit the Residential Real Estate Council website. Find an Inside Sales Agent-certified REALTOR®. Advertisement. The Inside Sales Agent certification program teaches REALTORS® the art ...
