Let’s set a realistic income goal and reverse-engineer your plan to hit it. Say your target is $45,000 in year 2. With an average commission of $3,000 per lease, you’ll need to close 15 leases this year.
Now let’s break it down:
- Close Rate: Newer agents typically close 1 lease for every 7 showings (≈14%).
- To get 15 deals, you’ll need 105 showings.
- But only 1% of your cold calls/canvasses convert into showings.
- So you’ll need to contact 10,500 prospects annually.
Sounds big? It’s totally doable:
- You’ve got 50 workweeks a year.
- That’s 210 cold calls per week (including sign calls + canvassing).
- Which breaks down to 40 calls per day.
- That effort will net you 2 showings/week, or 1 showing every 2.5 days.
Pair this formula with consistent qualifying, tracking, and follow-up, and you’ll not only hit your goal—you’ll outperform it. Rockstars know their numbers and work them like a pro.