How Do You Stack Up Against the Top Real Estate Agents?
About a month ago I did a 2 part post dissecting what the top real estate agents do to be named in the top 5% of all REALTORS.
Continuing in my series on the rich agent vs. the poor agent I have prepared a really good survey and set of statistics to enlighten you even more as to what exactly the top agents are doing to have achieved this level of success.
Many of my real estate coaching clients know "what" they want from their real estate business but most don't know the specifics of what they need to attain in order to reach those goals. The data in this post will be a great measuring post for you to determine what areas you need to work on to reach your own goals.
So if you are ready to stop living small and want to start gaining momentum in your business and personal life and experience the quantum leap the top 5% in this industry have experienced, then this bit of information should really shed some light on your journey to the top!
Key Results of What the Top Real Estate Agents Do
- Top producers are selling a minimum of 70 homes a year.
- They all have an average of 2.78 years in real estate coaching and are actively being coached.
- Surprisingly they have on average under 10 years experience in the real estate business.
- In 2013 the 70 sales accounted for $695,000 in Gross Commission Income.
- A large percentage of these agents live in areas that experience hard cold winter seasons. So that won't work for an excuse to not become a top producer.
- First half of 2014 they have sold 53 homes on average. For a total of $513,000 Gross Commission Income.
- On average spend 5.5 hours a week prospecting and about 28% of them spend 11 hours a week prospecting.
- All top producers spend a portion of 5 days a week in focused follow up lead conversion to appointment time.
- Top producers have on average at least 1,000 names in their database and 22% of them have more than 2,000 names.
- The top agents marketing frequency to their database is a monthly mailing, 25% bi weekly. An email monthly and a call or a text every quarter. Interesting enough 16% never called or texted their database.
- 43% of the top agents hold at least 5 or more open houses a month.
- 62% use the classic easel binder or folder listing presentation visually with their seller listing appointments.
- 81% of the top producers have and work consistently their geographic farm.
- They attend on average 6.3 listing appointments a month and 6.6 buyer appointments a month and 48% of them use a signed buyer agreement.
- The rich agent markets to their geographic farm by mail twice a month. They email their farm once a month. They target their farm with online Facebook ads and monthly or quarterly face to face door knock visits.
- Top producing agents spend on average $3,300 a month on the above lead generation, not including their internet marketing strategies.
- The rich agent receives 20 or more online leads a month. 31% spend less than $1,000 a month. 36% less than $2,000 a month. 8% less than $8,000 a month. 9% less than $10,000 a month on their internet lead generation strategies.
- Top producers are marketing online 86% of the time on Zillow, 53% of time on Facebook, 41% of time on Trulia, 35% of time on Realtor.com , 23% of time on Boomtown or Tigerleads.
- More than half of the top producers have outsourced or hired outside services to deal with their social media programs and posts.
- More than half of the top producing agents have more than 26 reviews of them and their service online, in multiple areas like Google, Yelp, Linkedin etc.
- All top producers are generating leads and marketing themselves consistently on Facebook, Youtube, Linkedin, Twitter and Google+.
- 100% of all top producers have more than one team member. 83 % have unlicensed assistants, 63% have buyer agents and 38% have marketing coordinators.
This is some incredibly good information to take and start using for your own business and see where all the opportunity is for you and your business.
Insanity is doing the same thing over and over and expecting different results. Choose to stop the insanity and take this blueprint of data and start to create your quantum leap in real estate!
If you missed them check out part #1 and #2 below...
Do More Of What The Top Real Estate Agents Do. Part 1
Do More Of What The Top Real Estate Agents Do. Part 2
Strength and courage!
Wade
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