In order for you to succeed at finding and marketing great real estate deals, you have to be accountable for your efforts. Since you may not have a partner to keep you on track, we have designed a log to help you.
Make copies of this log and fill it out each week. Track your week-to-week business to see your strengths and weaknesses. If you see that you spoke to 75 homeowners, yet got zero deals, you know you need to work on your presentation. If you see you mailed 5,000 postcards, yet received zero response, don’t spend money on postcards.
It is imperative to your success that you know where your real estate deals come from, which marketing works best, how much you spend to get each lead, how much you spend to get each deal, and how many of your deals actually close.
If you see it is costing you $500 for one lead, change your marketing methods. This sheet will help you track and modify your efforts to meet your real estate goals:
What are your goals this week?
1. _____________________________________________________
2. _____________________________________________________
3. _____________________________________________________
How many distressed homeowners did you speak to this week?
________________________________________________________
How many deals did you put together?
________________________________________________________
List all marketing methods used and the quantity. How many calls were generated from each. (For example: 100 postcards mailed = 25 calls received; ran 3 ads = 15 calls received; put out 100 signs = received 50 calls).
1. _____________________________________________________
2. _____________________________________________________
3. _____________________________________________________
Which marketing methods generated the most potential deals?
1. _____________________________________________________
2. _____________________________________________________
3. _____________________________________________________
How many properties do you have on the market right now?
________________________________________________________
For how long?
________________________________________________________
How are you marketing them?
1. _____________________________________________________
2. _____________________________________________________
3. _____________________________________________________
Did you add any real estate to your portfolio?
________________________________________________________
How many?
________________________________________________________
What could you have done overall to get better results this week?
1. _____________________________________________________
2. _____________________________________________________
3. _____________________________________________________
How many wholesale deals this week?
________________________________________________________
How many wholesale deals fell apart?
________________________________________________________
________________________________________________________
What went wrong?
________________________________________________________
________________________________________________________
How many short sales this week?
________________________________________________________
How many short sales that fell apart?
________________________________________________________
________________________________________________________
What went wrong?
________________________________________________________
________________________________________________________
What seller objections were you not able to overcome?
________________________________________________________
________________________________________________________
________________________________________________________
What bank objections you were not able to overcome:
________________________________________________________
________________________________________________________
How many hours did you spend prospecting?
________________________________________________________
Do you honestly feel you treated this like a business?
________________________________________________________
What was the most important lesson you learned?
________________________________________________________
________________________________________________________
________________________________________________________
Did you achieve your goals for this week?
________________________________________________________
What are your goals for next week?
1. _____________________________________________________
2. _____________________________________________________
3. _____________________________________________________
What will you do to meet those goals?
1. _____________________________________________________
2. _____________________________________________________
3. _____________________________________________________