Run Your Business from the Beach with This Scorecard

I know there's some of you who aren't running the Business Tracker for whatever reason, so I'm not going to judge it, but I've basically taken the team scorecard out of the business tracker and I'm going to upload it as a Google Sheet into the Drive. I'm going to take this and upload it into Google Sheets as a stand-alone document.

So there's nothing complicated here. I just set the dates so all you have to do is change this date and the rest of it is data entry. As you're entering one week and it's a new week, you want to copy the data over so you're not overriding it. That's the only big difference.

Quarterly TEAM Score Card

This is something you must do, no matter how big or small your team is. You've got to be able to manage your business through data. This is looking at buyer leads generated, appointments set, met, signed, written and closed on the buyer's side. On the seller's side, you've got appointments set, met, signed, written, and closed, and then anything you want to track up here and who's responsible for delivering that number. We toyed with new referrals to database, reviews obtained on Zillow, our compassion impact program, buyer closing surveys and seller closing surveys.

I don't care if you're a single producer or if you have a team of 15, 20 producing agents. You've got to have weekly targets for how many buyer appointments and listing appointments you're setting every week. We just worked these numbers backwards. These are actual conversion rates from set to met, met to signed, signed to written, and written to closed. The buyer's side and then assumptions on the listing side. Basically, our goal is to sell, on average, close to seven homes per week closed. So it's less in the leaner months, and more in the peak months. But if we're going to hit our 325 on each side, which is our goal, 650 transactions this year, that's the pace we need to produce at.

You can have whatever you need here, so if your goal is a hundred transactions, 50/50, you need to get to somewhere close to 20 buyer appointments set in a week and 10 listing appointments set in a week. We tend to meet with most of the listing appointments we set, and so from set to written, we're just over 50%. So 90 and 60 gets that, that's 54%, that's about where we are.

If you're using the business tracker, most of this stuff will auto-populate. This is for folks who aren't using the business tracker. This is going to be more manual, obviously, but all you're doing is going back in your calendar and saying, "Did I set the appointments? Did I meet anybody? Did I sign any loyalty agreements? Did I write any buyer contracts?" And you're just entering, "Yeah, I set three appointments, met with two of them. I only signed one. I wrote one buyer contract, and I sold one." Same thing on the listing side.

Then, when it comes time to shift this to next week when it's the 15th, you're putting 2/15 here, and you are now copying this data over one. Now you're putting in new. It's definitely a manual process, but it won't take you more than three minutes to update this on a weekly basis.

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You've got to run this scorecard no matter how big you are if you're not running the business tracker. I would recommend running the business tracker if you have a more sizable team. You've got to get that business tracker up and running. Sandy asks the question, "Do you recommend one for each buyer specialist rather than one altogether?" You could do that and then sum them all up, but that's going to be very - you might as well at that point be running the business tracker.

The business tracker has it set up where each agent has their own scorecard. All it does is change the agent name and it takes all the data you already put into it. So the business tracker is the way to go. I just want to make sure that everyone is still using a team scorecard.

The concept of a team scorecard is from the book Traction, and it doesn't really have much to do with the business tracker, except that it provides an automatic way to update it. They're just really important data points in your business that you could run your business from a beach somewhere if you had this scorecard on a weekly basis. You would know where if you had this scorecard n a weekly basis, you would know where your business is.