I’m often asked several questions from new agents or those looking to boost their business. Should I hire a coach? Should I create or join a small group in my office? What’s the value of these client events I hear about? Should I hire an assistant?
So, I went on a mission to quantify a better answer. We surveyed agents across multiple states and found some interesting data:
What’s the value of coaching?
Agents in a formal coaching program earned nearly 50% more than those not in a formal coaching program.
What’s the value of being in a small group?
This result was a shocker for me, as I would not have predicted that the value of being in a small group was nearly as powerful as the coaching experience. Agents in a small accountability group earned nearly 42% more than those not in a small group experience.
What’s the value of a personal assistant?
Agents who work with a personal assistant earned an average 92% more than those who do not.
What is the value of a written business and marketing plan?
Agents with a written plan earned an average 35% more than those who do not.
What’s the value of using a CRM?
Agents who did consistently use a CRM earned an average 44% more than those who did not.
What’s the value of using a follow-up?
Four extra follow-ups are worth, on average, $80K; try doing that at scale without a CRM. Self-reported, those who complete one follow up after a lead earn on average $49K, and self-reported, those who complete five follows ups earn $130K. The more you follow up, the more you earn. If you are not following up someone else is! Read that one a few times.
What’s the value of client events?
Agents who did three or more client events per year earned an average 46% more than those who did not.
At JPAR Real Estate, we have created whitepapers, step-by-step guides and video tutorials on business plans, team building guides, small groups, hiring your first assistant, transaction management and more. Reach out to us at www.jparready.com and we’d be happy to chat.
Mark Johnson is the chief executive officer of JPAR Real Estate, a rapidly growing full-service transaction-based real estate brokerage; the host of “Success Superstars,” a weekly show that highlights the blueprint of agent success; and the co-founder of CoRecruit. He has invested decades in understanding the inner workings of high-performing real estate companies, managers, teams and their leaders in major markets across the world.