We’ve been looking at the performance of different levels of agents over the last year in respect to the number of sales. VOLUME.
As we looked deeper into the data, we found some really interesting insights.
Agents who traded more than 50 sales a year were more likely to go on to 60, 70, 80 and beyond.
The most obvious assumption, which is true, is that they focused on developing teams.
But as we looked further, we found that the majority of these high-volume agents were very geographically focused.
Conversely, agents who were below 50 for multiple years in succession struggled with their business, and a very large majority started to decline after a number of years.
Let’s look a little deeper. The agents who sell more than 50 properties a year continue to tell a consistent story in a tight geographic area.
Thanks to Allison Gough, a super agent at Ray White Townsville, for this wording, their messaging into the tight geography was consistent, highly relevant and told the story of what was occurring in and around their community.
Those who have worked with me for a long period know that I believe what great agents do is control the conversation of their vendors and their community when they are not in the room.
When your story or messaging is consistent and relevant, homeowners at night start to talk about ‘the listing that Billy Smith has in the street’.
Then, in two weeks’ time, they mention Billy again for a sale around the corner. This conversation only occurs when the information is relevant.
What this layering of information provides is familiarity when Billy or his team pick up the phone and talk to the potential homeowner.
Agents in tight geography, using relevancy as a key communication tool, create sales.
Let’s now look at agents with below 50 sales. We found their listings (as they chase opportunities) very sporadic around geography.
Therefore, they never became the dominant communicator of relevancy to their vendors and therefore never became part of the discussion in their homes or community.
They were constantly chasing deals or, as I put it, deeply spinning on the treadmill, constantly looking for any opportunity to make sales.
We also found that when they weren’t the dominant agent in a particular suburb they needed to rise to compromise their commission rates to often secure deals.
It is interesting to note that I believe that this constant grind started to weigh, and is one of the reasons we see decline across these agents who are non-geography focused and are below 50 sales a year.
Of course, there are exceptions to every rule, but a couple of questions in finishing, you should be asking yourself.
- Do I provide relevant communication to a community?
- Do I have a structure of laying and creating familiarity, and I am becoming part of the conversation of my homeowners.
- Am I chasing deals or creating deals?
Your story and your community story is up to you.
