measuring the health of your business
DESCRIPTION
Doug Driscoll, CEO of Starr Partners presented at The Business Of Real Estate held on 1-3 September 2014. #rebiz14TRANSCRIPT
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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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