The Real Estate template combines some of the key metrics real estate agents should focus on. These metrics are split across the Real Estate - Leads and Customer Metrics, Real Estate - Listings Metrics and Real Estate - Sales Metrics pages in Spotlight. To make the most of the Real Estate template, you will need to:
Most professional services metrics require financial and non-financial data. Therefore, you will need to collate and enter the following non-financial information (actuals and target) into Spotlight:
You can manually enter the data into the non-financial tab under Customise Data. Alternatively, enter the data into this Excel template and import it into Spotlight using the Excel import function on the Import tab.
Explanation: Shows the number of calls or contacts made compared to last year. Calls are an important part of bringing people into the sales pipeline.
Formula: Sales Leads
Report codes used: SAL.LEA
Explanation: This shows the total number of referrals per month.
Formula: Sales Referrals
Report codes used: SAL.REF
Explanation: The number of initial meetings with buyers and sellers compared to last year. Shows the number of new opportunities created.
Formula: Sales Enquiries
Report codes used: SAL.ENQ
Explanation: The percentage of new listings that came from opportunities compared to last year. This shows how effective agents are at converting opportunities into clients.
Formula: New Customers divided by Sales Enquiries
Report codes used: CUS.NEW, SAL.EQU
Explanation: Measures the satisfaction gained from customers based on their experience of your services and products provided.
Formula: Customer Satisfaction
Report codes used: OPR.CSR
Explanation: This shows the number of properties sold compared to last year. This helps track sale progress and growth.
Formula: Sales closed
Report codes used: SAL.CLO
Explanation: This shows the total number of properties listed. This indicates the condition of the market and the effectiveness of sales and marketing.
Formula: Sales - item
Report codes used: SAL.ITM
Explanation: This shows the number of new property listings compared to last year. This indicates whether there is a new supply to replenish inventory levels.
Formula: New customers
Report codes used: CUS.NEW
Explanation: This shows how many months of inventory is remaining. Too much inventory shows it's a buyers market whereas too little inventory indicates a seller's market.
Formula: Sales items dividend by sales closed
Report codes used: SAL.ITM / SAL.CLO
Explanation: This shows the average number of listings across all agents compared to last year. This indicates whether there is adequate inventory for agents and the potential for recruiting more agents.
Formula: Sales closed divided by Sales Items
Report codes used: SAL.ITE / STA.TOT
Explanation: Measures the rate at which properties were sold in comparison to total listings.
Formula: Sales closed divided by sales items
Report codes used: SAL.CLO / SAL.ITE
Explanation: Displays the average number of days properties remains in inventory from listing to closing. This indicates whether there is market demand for properties or if the demand is cooling off.
Formula: Sales time
Report codes used: SAL.TIM
Explanation: Displays the average number of times an agent showed properties to potential buyers before the properties were sold. This indicates how effective an agent is at qualifying buyers or showing properties. It can also reveal how effective pricing or marketing strategies are.
Formula: Sales visits divided by sales closed
Report codes used: SAL.VIS / SAL.CLO
Explanation: Shows the average percentage difference between the asking and selling price of properties. This can reveal if there is overpricing in the market or the inability of agents to sell at desired prices.
Formula: Sales transaction targets divided by sales transactions actuals
Report codes used: SAL.TRA
Explanation: Shows the average commission received from property sales compared to last year.
Formula: Trading revenue divided by sales closed
Report codes used: REV.TRA / SAL.CLO
Explanation: Shows the average commission percentage received from property sales compared to last year.
Formula: Trading revenue divided by Sales transactions
Report codes used: REV.TRA / SAL.TRA