Now obviously this doesn’t just take budget. It takes someone to hold that budget (and the people managing it) accountable.
But this is my starting point (I’m ready to write this cheque) for our 2024 team.
What are your thoughts? Am I crazy? Or Bang on?
FYI I used 5% and 10% conversion for database leads because those leads are not “web leads” (as in raw/new leads) they are leads that would be warmed back up by ISA and handed off directly to agent. So the assumption is a higher than 1-2% conversion.
I have some folks who want to get in on this with our money-back guarantee, so I figure I might as well vet this with our leaders.
Question 1: Yes, this is representative of a 5 person team (a leader and 4 team members) probably could have called that “member 1” etc would be less confusing.
CPL = Cost Per Lead.
Annual is how many leads per year from that source. (So if you have 50 leads per month that is 600 annually)
The attrition rate for team members! Great question! Would love feedback from our experienced team leaders.
For me in my sales orgs I plan a 2-1 hire vs plan. So you need to hire 10 people over the course of a period to keep 5. Anyone else want to chime in on this?
Goal for team members I’d say is 1 year ramp up, stay on the team 2 years (they are going to graduate out and want to eventually do their own thing). That is just my thought (so you get 3 years out of them, but one is ramp up, 1 is average is one is great production) so average = average production.
I’d be curious to know from Team Leaders what they do to create a culture of retention. I know in my market there are agents who love being on a team despite their long tenure in real estate. It seems as though there would be a lot of value of having team members stay as long as possible.
