Real Estate Economic Model

WHO IS GOAL SETTING TODAY?

Agent*

First Last

Agent Email*

Market Center Number*

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Coach Email

YOUR INCOME GOAL

NET INCOME TARGET*

EXPENSES

Monthly Office Dues*

Annual MLS & Board Dues*

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Annual Office Dues Calculation

Marketing Budget (%)*

Percentage of GCI to contribute to marketing? MREA recommends 6-8 percent. This will go toward expenses for your listings and marketing your business. ENTER ONLY THE VALUE – DO NOT USE A ‘%’

Additional Operating Expenses*

Technologies, supplies, rent, phone, car, insurance, etc.

Are you enrolled in Central PC?*

Yes

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Central PC Dues*

Central PC clients pay $495 on their first 5 transactions

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HIDDEN: MARKETING BUDGET CALCULATION

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Marketing Budget Calculation

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HIDDEN: TOTAL OPERATING EXPENSES

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HIDDEN: Sub-GCI (Goal+Expenses)

Net Goal + Expenses

SPLIT & ROYALTY

Percent of commission divided between agent and brokerage per transaction, pre-cap. Plus 6% royalty to KRWI (capped at $3,000)

Cap Amount*

Agent Split %*

Percent agent keeps per transaction. ENTER ONLY THE VALUE – DO NOT USE A ‘%’

Broker Split %*

Percent company keeps per transaction. ENTER ONLY THE VALUE – DO NOT USE A ‘%’

KWRI Royalty %*

Capped at $3,000/year

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Never Cap Value

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Never Cap Royalty Fee

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Royalty Fee

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Broker Fee

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HIDDEN: TOTAL BROKER & ROYALTY

TAXES

Tax Rate Assumption (%)*

Assumed tax rate percent. Enter a value, not a percentage. ENTER ONLY THE VALUE – DO NOT USE A ‘%’

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Taxable Income

TOTAL OPERATING EXPENSES

TOTAL BROKER & ROYALTY

TOTAL TAXES

TOTAL GCI

HOW YOU WILL GET THERE

Average Sales Price in Your Market*

Your Fee for Service*

What percent do you charge for your services? ENTER ONLY THE VALUE – DO NOT USE A ‘%’

Sell Side*

Please enter a number from 0 to 100.

What percentage of your business is listings? ENTER ONLY THE VALUE – DO NOT USE A ‘%’

Buy Side*

Please enter a number from 0 to 100.

What percent of your business is buyers? ENTER ONLY THE VALUE – DO NOT USE A ‘%’

YOUR PERFORMANCE

Listing Appointment Conversion Rate (%)*

Please enter a number from 0 to 100.

What percentage of the listing appointments that you go on, sign a listing agreement? ENTER ONLY THE VALUE – DO NOT USE A ‘%’

Buyer Appointment Conversion Rate (%)*

Please enter a number from 0 to 100.

What percentage of the people you engage will sign a Buyer’s Representation Agreement? ENTER ONLY THE VALUE – DO NOT USE A ‘%’

Sold Conversion Rate (%)*

Please enter a number from 0 to 100.

Of the listing agreements that you get signed, what percentage of those close? ENTER ONLY THE VALUE – DO NOT USE A ‘%’

Buyer Conversion Rate (%)*

Please enter a number from 0 to 100.

Of the Buyer’s Representation Agreements that you get signed, how many of those lead to a closing? ENTER ONLY THE VALUE – DO NOT USE A ‘%’

HERE'S WHAT IT WILL TAKE

AVERAGE COMMISSION AMOUNT

TOTAL UNITS SOLD

TOTAL LISTINGS SOLD

TOTAL BUYER CLOSINGS

TOTAL LISTINGS NEEDED

TOTAL BUYER AGREEMENTS NEEDED

TOTAL SELLER APPOINTMENTS NEEDED

TOTAL BUYER APPOINTMENTS NEEDED

CREATE & WORK YOUR DATABASE

MET: What percentage of your business would you like to be based on referrals and people you meet face-to-face? Marketing efforts might include events, open houses, kid’s school, etc.

NOT-MET: What percentage of your business would you like to be based on new people. Marketing efforts might include geographic farming or internet leads. The goal is to move people from “not met” to “met” as soon as possible.

"Met" vs. "Not Met" Marketing Mix*

Where will you focus your marketing efforts? On people you know – or people you don’t know yet?

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Not Met Result

Required number of "mets"

This is the number of people you have met that you are actively marketing to in order to stay top-of-mind with them.

Required number of "not-mets"

This is the number of people you have not met in your database – to whom you have added to your 36-touch marketing campaign.