If you’re using a real estate contact management software, you’re likely aware of the importance of using the software to generate key reports. These reports help you glean important insight into your business so you can make smarter business decisions moving forward.
You may be thinking, “Which reports are the most popular? Which ones should I make sure I view on a consistent basis to make certain that I’m fully understanding all aspects of my business and maximizing the effectiveness of my business-building efforts? In this blog post, we’ll explain.
3 High Value Reports in Your Real Estate Contact Management Software
1. Original Source of Contact Summary
This report will give you an overview of how people are hearing about you. You’ll understand where your clients, prospects, personal, and business-to-business contacts are coming from. This will help you to determine where you should be investing more and less money.
Perhaps you see that you’re getting a lot of real estate leads and clients from a particular magazine ad, or from cold calling, and very few from Trulia. You’ll then know to go ahead and adjust your budget for these various lead sources.
2. Referral History
Do you know the number of times each person in your real estate contact management software has referred your services? From this report, you can see your best referrers and if the people they referred turned into clients or not.
This information is important because you’ll immediately know your “VIP” clients and can make a plan to give these people special treatment moving forward so they’ll continue to think highly of you and refer you to others.
3. Transaction Summary
This report lets you see an overview of your transactions, including asking price, selling price, days on the market, percent of asking price each property sold for, your commission, and averages. Let’s face it; if you sell homes fast for a good percentage of the asking price (or more), then that’s good marketing data you need to know about and promote to leads.
It’s also good to know average percentage of asking price and average days on the market of your listings so you can see if you need to make changes to your listing strategy to improve these numbers.
Run a report in your real estate contact management software right now and start making smarter business decisions today!
Do you run any of the reports we’ve discussed? Please leave a comment below!