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What performance data do you trend for your business ... month to month? year to year? Do you track DOM for your own listings vs. MLS average for your area/price range? Do you calculate list price to sales price ratios for all your transactions? Do you publish this data?
For myself, I track every SMARTePLAN that goes onto the market ... by DOM vs. the MLS average.. and because my market niche sales price is so far above the average MLS sales price, I've also started tracking DOM against a comparable sales price area. For me, I use the YTD stats published for single family homes by our MLS. For six years in a row the average for homes with a SMARTePLAN has had less days on market than the MLS average.
I also track the percentage of homes with SMARTePLANS that sold at list price or above ... in 2009 it was only 5.3%, but as we all know, 2009 was an unusual year in many respects, and that will of course be reflected in the data, and having 5% of homes with a SMARTePLAN STILL sell at list price or above is not too shabby!
I'm always chomping numbers on my spreadsheets and graphing the data, --- and I wondered what else I could be doing?
If I was your vendor what would be a meaningful statistic or data trend you would want to see reported at the end of the year?
And, of course, I wondered what YOU track and trend over the long term. What data do you track that reflects your effectiveness for your clients? Have you started participating in the QSC program (Quality Service Certification) where each closed deal is rated by the sellers/buyers and then published? Do you publish EOY statistics on your website? What do you do?
What metric is important to you to help keep you going in the right direction?
Judith, The Floor Plan Lady
