How do you sell $70 Million in volume per MONTH and recruit 50 new agents a month? Eric Pearson joins us to share how he and his partners have grown Pearson Smith Realty by offering recruiting incentives and multiple packages to agents.
Lead generation is the hardest part for agents to learn. After mastering this, they can start working on giving a great experience and creating a referral database. -Eric Pearson
Provide multiple packages that blend leads, accountability, systems and tools to give your agents options for how they want to succeed in the business.
To ramp up your recruiting, offer a 5% recruiting incentive with no money up front to encourage agents to bring recruits to your office.
Eric offers 12 different packages to agents, allowing him options for just about any type of agent, which gives him the opportunity to bring in 50 new agents a month.
Resources & Links:
Expansion– Learn how you can partner with Elite Real Estate Systems – build your career, start your own satellite team and remove yourself from actively working with clients – all without leaving your current broker.
Team Building Workshop – Spend the day observing these systems in person, including board meetings, Monday Team Meeting, agent one-on-one meetings. Also includes hours of private consulting to create your own custom roadmap to build and exit your real estate team.
Tools & Services – See all the tools, professional services and companies Jeff uses and recommends to help build your real estate team.
Eric Pearson gave us a background of his career and told us about his company, and how they were able to achieve $70 million in volume per month. He attributes his success to watching podcasts and continuous learning. The system he has in place relies on online leads, referrals and a strong follow up process. Consistency, responsiveness and excellent scripts have served his team well.
With an incredible feat like 50 agents working in the brokerage, we asked Eric about his team’s recruiting methods and their incredible 99% staff retention rate. He believes the resources he offers, which include an admin team to help with everything needed from contract to close, is a huge draw. We went onto ask Eric why he chose to start his own brokerage and not become part of a franchise. His main aim was to develop a company culture and business model that would suit the needs of the type of agent he wanted to attract.
The brokerage provides value by teaching agents how to properly follow up on leads, which is a big struggle for most. Eric’s brokerage uses a Boomtown generation model based on a 21-day process with clear guidelines for when to call, text and email. Agents are brought into the company and led with strong knowledge geared towards 2 transactions per month. Leading with learning and knowledge means that agents use their mistakes to improve their service.
We went onto discuss:
- The point of diminishing returns for lead generation
- Tackling recycled leads
- Getting a 15% conversion rate by using two lead sources
To get the best out of your team, you have to lead with strong knowledge. To master recruitment and retention, a brokerage has to be able to provide value and attractive incentives. Online leads, referrals, scripting and follow-up are important and it gets even better when the team prioritizes consistency and responsiveness.
Eric is the President and Founder of Pearson Smith Realty. He was born in Ashburn, Virginia, and graduated from The University of Mary Washington in Fredericksburg, Virginia where he was the captain of the varsity Basketball team. Currently, he’s a member of the Loudoun County Special Olympics Council. Get in touch with Eric here firstname.lastname@example.org