In my seminars, I often ask mortgage sales professionals where their business comes from. I hear a lot of great answers. But the answer I fear hearing most is: "I really
don't know."

Think about all the things you do to generate business. That list might include sales visits, presentations, mailings, emails, lunches, gifts, sponsorship, advertising and more. If you hare not tracking your sources of business and sales results, how do you know what's working? More importantly, how do you know what's not working and where you are spinning your wheels and wasting your time?

There are a number of ways I have seen to track sales results. What works best? Whatever works for you. You can track your results with an Excel spreadsheet on your computer or on a paper towel; it really doesn't matter as long as you are tracking it some way. Pick a system and stick with it.

The simplest way to get started is with a 4-column form. In the first column includes your Sources of Business, such as Realtors, data base mailings, an ad you are running etc. Column two is for Leads or Referrals. Hear you note the number of leads or referrals you get each month from each source to see if the source is generating any activity. Column three is for Applications or Sales.

Leads and referrals are great, but if they don't' turn into real live applications or
sales, they really aren't working for you. You want to know how many leads are converting to loan applications or actual sales. Column four tracks your Closings from those leads and applications.

The last time I checked we're all still paid based upon the number of sales we close. So, this last column in your chart is the most important!

The next step is to calculate how many sales you closed from your referral sources last month? How many from your paid ads and mailers etc.? Is the $200 I spend every month on client database mailings paying me back with business? You will soon find out!

Best of all, this activity of tracking sources, leads, prospects and closings takes almost no time, but can prove to be an extremely valuable exercise. It will show you where to invest more time and energy and where to invest less. After all, your time is money right? Invest it where you can create the highest and best return.

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