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Based on the data provided, what was Palma's total workload ( in hours ) required to sell those homes? Sandy's Trap Real Estate specializes in
Based on the data provided, what was Palma's total workload in hours required to sell those homes?
Sandy's Trap Real Estate specializes in properties for sale around a new golf community development on the coast. Sandy's receives 1,200 leads each month from a golfing magazine ad that targets retirees. The leads are divided equally among the 6 realtors who then follow-up with a phone call to determine the potential clients interest and ability to purchase. After the phone call, qualified prospects are offered a free round of golf if they will attend a sales presentation. A percentage of the people who agree to the sales presentation then decide to take one or more tours of homes available for sale in the golf community. On average, clients who reach this stage of the purchase process take 3 tours. Sandy, the owner, had calcualted that the average time for a salesperson to call a warm lead was 23 minutes, the average sales presentation lasts 30 minutes, each tour normally takes 4 hours, and the closing (the actual purchase) averages 2 hours. Sandy had also collected the following data for a year's worth of for the company, and his leading salesperson, Palma: Finally, the average home price was $258,000 and the total commission rate was set at 6% of the sales price of the home which is split between the realtor and the company. Therefore, the salesperson receives 3% and Sandy receives 3% to cover overhead and expenses. Based on the data provided, what was Palmae total workload (in hours) required to sell those homes? CALCULATED VARIABLES: palmahome = 23 palmalead = 2,400
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