How To Measure A Real Estate Sales Team

It goes without saying that measuring the success of your sales team is essential. However, if you only use the actual sale as a measure for success, then you may be missing the mark entirely. The process which leads to a sale is important to assess as well. In order to be able to improve or even simply adjust sales strategies and in order to improve on weak points and highlight strong points.

Here are 5 ways to measure the success of your Sales team:

1. Assessing interactions. First of all, asses your sales team’s interactions, not only with each other but with the other members of your business’ teams. How well do they play with other so to say? This is important because you want to be sure that each member is a team player.“Encouraging your sales team to share their successes/strategy with their team members and have them answer questions regarding a recent win creates a high level of team spirit and healthy competition.” — Jason Shuttleworth, Woodland Group Ltd
   
2. Assessing Conversations. The key to any sale is the conversation, as in, how are the conversation each salesperson is having with your potential clients? These are things they can control. They can control the total time they spend serving clients (CONVERSATIONS). They can control the quality of the conversation (SERVICE)… Are they actively listening? Effectively communicating value propositions? Objective handling? Creating Outcome statements that are realistic? These are the questions you should be answering when assessing the conversations your sales team has with your customers.
   
3. . Assessing Goals and Outcomes. Setting short and long-term goals go way beyond declaring numbers and running with them. When you are setting your goals there should be a clear picture of why you are setting these goals, why you need to achieve them and what will happen when you do. Once you are able to clearly define what the goals are and why, you can then discuss strategies on how to achieve them. An incentive or compensation plan can also be added to the mix to add motivation to your sales team. Understanding your own business’ needs and objectives as well as the behaviors you want to encourage in your sales staff is the best way to lay the foundations for success.
    
4. Assessing Lagging Contributors Vs. Leading Contributors. Understanding the difference between your team’s results and how you got there is absolutely essential. You need to be able to look beyond your lagging contributors, meaning your number of sales and gross margins. Do not neglect to take a close look at leading indicators, meaning the actions that are made during the process. Look at the number of calls, meeting-to-opportunity, and conversions. All these things are key factors in the whole process.
    
5. Assessing Activities vs. Outcomes. When you set a goal, there needs to be a strict, processed outline to the process of reaching that goal. They should not be so rigid that there is absolutely no room for flexibility but they should be a standard. These are some guidelines you might be able to use:
   - Make X customer contacts per day, month, quarter
   -Build X dollars of sales pipeline
   -Cross-sell product X to customers already using product Y
   -Increase face to face customer visits by X% compared to the previous month/year

By recognizing that the measure of your sales team is not solely based on the sale, you bring value to your customer/client. Putting importance on the process, not just the results will encourage your team to get back to the heart of sales that goes beyond numbers, building relationships and providing solutions.

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