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My whole thought on closing ration and closing percentages, is as Bertolino said before, It allows you to work backward to figure out what you need to do to close X amount of business at any time.
One thing that has not been mentioned and possibly the most crucial of tracking closing percentages is, accountability.
If you have two producers or in a captive environment office representative, with all else being equal if one has a much higher closing ratio than the other it allows you to use it for various different things...training/coaching/accountability
if your buying leads 100 constantly for example...and producer one closes closer to 50% while producer two closes 10%
There would almost be no way to know otherwise unless you were tracking conversion ratio...of the 10% closed the producer may have fallen on a huge home with rental dwelling's for example.
In my experience as a captive agent, the more things you track (which I do a very poor job of) the more you know about every piece of your business/agency the better the agency usually is.
One thing that has not been mentioned and possibly the most crucial of tracking closing percentages is, accountability.
If you have two producers or in a captive environment office representative, with all else being equal if one has a much higher closing ratio than the other it allows you to use it for various different things...training/coaching/accountability
if your buying leads 100 constantly for example...and producer one closes closer to 50% while producer two closes 10%
There would almost be no way to know otherwise unless you were tracking conversion ratio...of the 10% closed the producer may have fallen on a huge home with rental dwelling's for example.
In my experience as a captive agent, the more things you track (which I do a very poor job of) the more you know about every piece of your business/agency the better the agency usually is.
