In real estate, as in other lines of work, data and information is power. Here to discuss the irreplaceable utility of key performance indicators or KPIs, is Merrill Kaliser. Merrill uses KPIs across his multiple businesses and they make up the foundation of how he stays on top of his different ventures. He speaks to the most important indicators for the real estate business and how he and his team manage the data that comes in. Merrill brings attention to property and asset management statistics as well as information around leads and where they come from. If you cannot measure which avenue of your marketing is working, you will not know where to put more energy! Merrill has so much enthusiasm and insight to share, with the key takeaway being the immediacy of the collected information. He covers rent collection, vacation notice, and work order KPIs before drilling down on the idea of costs per lead converted. For all this in a punchy Friday episode, tune in!
Key Points From This Episode:
- The different avenues of Merrill's work and how he stays busy.
- Merrill's use of KPIs to manage his businesses and how excited he gets about measuring.
- The KPIs Merrill gives the most attention; property and asset management.
- Managing the KPI information and the tools Merrill is using to collect and store it.
- The often-overlooked KPI around leads and why Merrill attaches so much value to it.
- Why Merrill's asset management superpower lies in his team!
Tweetables:
“We use KPIs on every single business that generates revenue and or has expenses going out.” — @LonghornInvest [0:02:13]
“The first thing I do when I wake up every morning is I look in my inbox and I have about 17 different KPIs.” — @LonghornInvest [0:02:50]
Links Mentioned in Today’s Episode:
Passive Income through Multifamily Real Estate Group on Facebook
