Question by lefemepetite: What is a successful closing ratio in real estate sales?
Granted success is a relative term and it depends on many factors such as your dedication, skills etc. What is considered a successful closing ratio in both residential and commercial real estate sales? And where does this rank a person for example a “super star” sales person or an average salesperson?
Thanks in advance for your help.
Answer by rkim777
I think that closing ratio is not very significant unless you are in a market where the properties are pretty much all the same price. A more relevant metric is how much money in sales you close. For example, would you rather close 50 sales for a total of $ 100,000 commission or would you rather close 1 sale for a total commission of $ 1 million? I think a better way to measure your level of success is to set a dollar goal and see by how much you meet or exceed this.
We have found that most closings fail from lack or inadequate financing. To help address this issue, we developed financing that needs only 1% down. For example, now a buyer only needs $ 50,000 to buy a $ 5 million property versus the $ 1 million or more that has typically been required by typical lenders. By needing a lot less down payment, closings will increase and bigger closings will occur, which all goes into your pocket. This is how we try to help others meet their revenue goals and “succeed”.
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