Real Estate Sales Tracking Spreadsheet
Today, during my Monday Mastermind, I discussed a real estate sales tracking spreadsheet that I've used in my business since the beginning. This spreadsheet gives me insight into my business and motivates me to be continually improving.
If you don't have a sales tracker where you can pull gross commission by year, source, lender, agent (if you have a team), look no further!
But first, let me explain everything you'll find in this spreadsheet.
The backlog is where you input all the data from your transactions. If you haven't been tracking this and you've been an agent for many years, I would highly recommend you take the necessary steps to gather the information and input into this spreadsheet. There are not very many things that will provide a higher return on your time than gaining valuable insight into how your business has performed and being able to see at a glance where you are heading.
Regardless of whether you are a team leader, individual agent, or part of a team, you'll find this real estate sales tracking spreadsheet helpful. Be sure to input your name under the red cell on the right. Inputting your name in this cell will ensure that your transactions be classified as personal income, and any sales marked with a different name under the 'agent' column are categorized as team income.
"GCI" stands for gross commission income
"COGS" stands for the "cost of goods sold." COGS is the column where you manually input if there was any deduction to the commission. COGS could be a discount back to the client or a rebate to the team agent that worked the transaction.
There is a couple of example transactions in the spreadsheet.
When filling out the spreadsheet, you'll need to manually input data into the white cells. The spreadsheet calculates the light green cells for you.
Be sure if the 'Source' is a referral to add the referrer to the far right column.
GCI - YEAR
This tab will show you your gross commission income by year, quarter, and month. In addition to this, you can click on the table and select from multiple filters on the right, including type (buyer, seller, rental), agent (if you have various agents), and status (closed or pending).
GCI - SOURCE
This tab will show you your income by source. My source data continues to be an eye-opening statistic in my business. Regardless of the money and effort I spent on sources like social media and paid advertisements, I continue to earn over 80% of my business from sphere of influence and referrals. What is your top source?
VOLUME - LENDER
I created this tab so I can show my lender partner how much business I've helped them earn. It's helpful when you are looking to co-market with a lender and can show them your return on their investment.
I have this tab in there just to brain dump any goals that I want to set for the year. I try and do this before the year starts but find myself in this tab throughout the year, adjusting and adding new goals.
The P&L Planner shows me my previous year's profit and loss and allows me to set goals for the upcoming year. I take my last two years' numbers and input them into the Actual columns. I then project what I would like to do for each quarter of the upcoming year. These quarters roll up to the total for the entire year.
Be sure to add in your salary plus any additional salaries for your real estate business in row 7. Then be sure to add back the salary you pay yourself in row 27.
Adding back your salary and comparing your net income to gross income will help you determine what your profit margin is. For a single-agent real estate business, I think it's great to shoot for around an 80% profit margin. I've seen a team shoot for anywhere from 25% to 50% profit margin. Note that I wrote, "shoot for." Many teams fall short of that mark, however.
BUSINESS PLAN MONTHLY TRACKER
The business plan monthly tracker is your monthly scoreboard. It tracks how well you are doing for units, GCI, expenses, and profit. Be sure to input any numbers manually in white. Green gets calculated automatically. If you beat your projection, it stays green. If you don't meet your projection, the over/under cell turns red.
I've added a couple of examples in January and February. You can change these when you set your goals.
Regardless of whether you are making a lot or a little money from your real estate business, none of that matters if you can't save money for the future. Saving money for the future is especially important in real estate, where commission checks are not guaranteed, and the market typically cycles every few years.
Use this sheet by adding up your yearly expenses and setting goals for the year ahead. Be sure to continually come back and check this to make sure that you are in line with what you projected.
Everyone's savings number is going to be different, but I believe saving 10% of your net income is a good start. Eventually, you'll want to increase that number over time. As of the time of this writing, I'm aiming for my "Personal Family Budget" to be 50% of my Net Income. This goal leaves 50% to invest in savings.
PERSONAL NET WORTH
"Personal Net Worth" is your family's balance sheet. This balance sheet is where you list out EVERY major asset you own and estimate what its market value is today. As a rule of thumb, I only put in my cars, real estate, investment, checking, and savings accounts.
Also, you are going to list out any liabilities that you have. These liabilities include mortgage loans (both personal and investments), car loans, student loans, credit cards, etc.
Feel free to add rows to this tab as needed. When I pay a liability off or sell off an asset, I zero out the cell for the period I am working on and hide the row, so the table doesn't get too large. NEVER delete the row because it will affect previous period reporting. I update my net worth quarterly.
I also use this to set goals for what I plan to do to get my net worth up by a specific date in the future. This plan could include paying down debt or increasing assets.
Download Your Free Real Estate Sales Tracking Spreadsheet
Overall, I hope this real estate sales tracking spreadsheet is helpful for your business. I genuinely believe that if you have this level of clarity into your business and personal finances, you are bound to be a more effective and productive real estate agent.