A few weeks ago, I asked you to participate in a nationwide survey conducted by JPAR of agent and manager behaviors.
For those of you who participated, thank you. Here is some of what we learned.
Most participants were experienced/high wage earners: 60% of those who responded had more than five years of experience and their average annual income was $129,000.
Biggest challenges:
For brokers/owners: Recruiting committed talent
For team leaders: Developing systems, process, and structure that drive a consistent experience
For agents: Executing consistently on prospecting, lead generation, and marketing
Top 7 agent income related behaviors:
1. Personal Assistant: 62% more annual income for those with an assistant vs. those without.
2. Database: 70% have/work a database consistently—they earned 60% more annual income.
3. Influence Marketing: 53% more annual income for those conducting monthly or quarterly customer events.
4. Consistent Follow-up: 37% more annual income for those with a system and process in place supporting five or more follow-up attempts with prospects.
5. Business/Marketing Plan: 27% more income for those with a specific marketing plan, 30% more income for those with a specific business plan, 42% more income for those with BOTH a marketing and business-specific plan.
6. Tracking/Measuring Daily Activities: 12% more income for those who track/measure daily activities. 82% of highest income earners reported tracking the lead measure of new appointments.
7. Lead Conversions: Most agents reported it takes about 25 conversations to get one sale.
There are two recruiting takeaways from this data:
a. Earning more. If your recruiting value proposition is focused on helping agents earn more, this is a blueprint of where you should be focused.
b. Recruiting more. The behaviors that cause agents to perform at a high level are very similar to the behaviors that make recruiters and hiring managers to perform at a high level.
Mirror what top preforming agents are doing in the recruiting arena.
