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Measuring The Health of Your Business

Date post: 24-Jun-2015
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Doug Driscoll, CEO of Starr Partners presented at The Business Of Real Estate held on 1-3 September 2014. #rebiz14
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Page 1: Measuring The Health of Your Business
Page 2: Measuring The Health of Your Business
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A  rising  (de  li,s  all  boats  

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1.  Do  you  have  a  clear  mission,  

vision  and  purpose?  

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2.  Do  you  benchmark  your  business  against  your  

compe((on?    

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Revenue  Performance  

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Market  Share  

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3.  Can  you  (and  your  staff)  

clearly  iden(fy  and  ar(culate  what  dis(nguishes  you  from  

your  compe((on?  

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4.  Do  you  know  why  customers  

choose  a  compe(tor’s  business  over  yours?  

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5.  Do  you  speak  regularly  with  clients  about  ways  to  refine  and  improve  your  service?    

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6.  Are  your  staff  accountable    for  their  performance?    

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KPIs  2014%Office%KPI's

Agent%1 Agent%2 Agent%3 Agent%4Office Av%mth Av%week Annual Annual Annual Annual

2014%Income%Target $2,131,941 $177,661.75 $40,998.87 $799,594 $373,238 $426,409 $532,700 $2,131,941AV0PRICE $389,000 No%of%exchanges 268.0 22.3 5.2 100.5 46.9 53.6 67.0 268.0AV0NET0FEE 2.0450% Mas% 648.0 54.0 12.5 243.0 113.4 129.6 162.0 648.0AV0FEE0$ $7,955 Listings 309.7 25.8 6.0 116.2 54.2 61.9 77.4 309.7MA:INST0CONV0RATE 47.8% Inspections 3291.0 274.3 63.3 1234.1 575.9 658.2 822.8 3291.0FALL0THROUGH0RATE 8.30% Offers 900.0 75.0 17.3 337.5 157.5 180.0 225.0 900.0INSPECTION0TO0SALE0RATIO 8.90% Gross%sales 292.0 24.3 5.6 109.5 51.1 58.4 73.0 292.0INSPECTION0TO0OFFER0RATIO 27.70% Fall%throughs 24.2 2.0 0.5 9.1 4.2 4.8 6.1 24.2LISTING0TO0EXCHANGE0RATIO 86.6% Net%sales 267.8 22.3 5.1 100.4 46.9 53.6 66.9 267.8

268.238304 38% 18% 20% 25% 100%38% 18% 20% 25% 100%

Office%target%profile Sales/Lstgs IncomeJanuary 8% 6%February 10% 8%March 9% 10%April 8% 9%May 8% 8%June 8% 8%July 8% 8%August 5% 8%September 10% 5%October 10% 10%November 10% 10%December 6% 10%TOTAL 100% 100%

Share0of0LstgsShare0of0Sales

KEY%DATATOTAL

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7.  Do  you  have  a  structured  professional  development  programme  in  place?    

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8.  Do  you  regularly  survey  your  team  members  and  associates  to  help  iden(fy  possible  areas  

for  improvement  in    your  business?  

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9.  Do  you  have  an  incen(ve    and  rewards  programme    (for  both  staff  and  clients)?  

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10.  Do  you  have  an  on-­‐going  strategic  approach  to  

marke(ng?  

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11.  Does  your  marke(ng  align  with  the  core  values  of    

your  business?    

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12.  Does  your  team  understand  your  posi(on  statements?    

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13.  Do  you  have  a  systema(c  way  of  measuring  the  response  to  

your  marke(ng?    

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14.  Do  you  know  your    cost  of  acquisi(on?  

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15.  Do  you  track  your    

digital  engagement?    

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1-­‐5  Cri(cal  Condi(on  

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5-­‐10  Visit  the  Business  Gym    

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10-­‐15  Figh(ng  Fit  

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