MREA Ch-7 ECONOMIC MODEL - By DNA Realty Think of your economic model as a Formula that describes the way your business works. It is your equation for Success. Essentially, the economic model describes the relationship between a series of activities in the specific outcomes they produce. Actually, you can work the formula in Reverse just as easily. If you start with an outcome it will dictate the specific actions you must take to produce it.Now, whether you realize it or not, you have an economic model. Every business does. Every real estate agent does. The issue is not about having an economic model, rather, the issue is whether you understand the one you have and whether we can get you the net income you want. What sound economic model should do three basic things for you: 1. show you where your money comes from (gross revenue) 2. show you where your money goes (expenses) 3. show you how much is Left FOR You (net income) This is basic economics and sounds very simple, but, in actuality most people follow very unsound economic model. 1. they're not sure where their money will come from 2. they're not sure which costs are critical and which ones are not 3. they can't be sure how much will be left at the end of the year So now your economic model has given you another gift. It has highlighted the key skills you must learn to be successful in real estate sales. The skills to convert leads to appointments in the skills to convert those appointments to listings. Make no mistake, mastering your presentations, Scripts, and dialogues is what will drive your conversion ratios. HOMES and TOWNS BY DNA Realty Group #BUY --- https://www.dna-realty.com/buy/ #SELL --- https://www.dna-realty.com/sell/ #dnarealtygroup #massachusetts #massachusettsrealestate #marealestate#nhrealestate #newhampshire#newhampshirerealestate #buy #sell#invest#home https://www.dna-realty.com/
