Sophie addresses whether training buyer agents creates future competitors. Her team generates 75% of its business internally and sets 80% of appointments through the team. High performers close 72 sides versus 44-45 for lower performers, and she argues culture and systems protect against real competition emerging.
Sophie, how can you tell if a buyer agent will not become your competitor once their clients and business reach a certain level? This is an awesome, awesome question because I think this is a common. And I think there was a Facebook thread on this. Let me make sure that's the. Yes, that's the question. All right, cool. So I know others have a similar or have input or experiences around this. Here's the thing. I know, I know that the general population, like 90, 97% of the general population just suck miserably at life and achievement and work and wanting anything. Okay? And this is going to sound harsh and I think a lot of that 90%, clearly not one anywhere near B school. Okay? So if you're willing to invest this kind of money in yourself and building this thing the right way. I'm not talking to you right now. So if you're on this phone, you're not one of these people. But real estate attracts the vast majority of people that are not achievers. So I have, I have examples and I don't do this very often, but, you know, there was someone on our team. Two people on our team. One guy, you know, thought he worked his butt off and he was a listing agent for us and he just didn't really. He didn't have the right personality. Fitting. He's my first hire, nice enough guy, but he sold 44, 45 homes for us. And it, it's a 90 to 100 plus position for us. He was with me for four years or three to four years somewhere in there. So he obviously filled a purpose at some point. My second hire in the listing side was tree and she was great. I mean, I thought she was truly my replacement. She did 72 sides. 72 sides for us in her second full year. She ended up having a health issue and we parted on good terms. She did 72 sides. When I looked up her production, she's been away from us right now for two years and she was, she hustled and she was aggressive. Like we started doing upfront fees and she would, she collected like 10, 14, 95 up front. She was, she would get 7%. I mean, she really went after it. She never missed a transaction fee, spoke directly right face to face with clients and just stood in it. She had 18 closings in the last 12 months. And I know that she pays for a platform. I think she has Commissions Inc. I know she employs a full time inside salesperson and her partner is her partner in the business. So she has two other people that are involved in that production and she has a platform and I know she spends money. So she's gone from selling 72 homes and she's an achiever. So that's the one thing I will say is that your competition, you don't have any competition. Like, you just don't have any competition. And you got like, hold, hold true to that. Because the nature of the business that we're building here in B school is such that a large majority of the business, a large majority of the business comes from your efforts. So we're at 75%. Like my top two agents are 81% team generated business. My other top producer, she's at 73. Chris is at 68. So we're at 75% overall is team generated business. So one out of every four deals is from my agent's effort versus my efforts. And then we have transaction coordination and the listing side. We prep for their appointments. We set. 80% of their appointments are set by us through our efforts. So we're building your marketing system around the fact that you're going to be generating the business. And 80% it went, it's been, it's been going down since we've been training our agents to reach out to their soi. Two years ago it was 85% of our business was team generated. Then it went to 80, and this is actually the first time I checked this year. Now it's 75, which is cool because we have agents that are loyal to our team. You're building a culture. You're building something that people are going to want to be a part of. I would just eliminate the thought that you even have competition or that you're in some way training them because they can't do what you're building out. Okay, so hopefully that was helpful. Sophie, just eradicate that thought right here.
