The #1 Metric Every Real Estate Brokerage Should Track (But Most Don't)

You can measure yourself as a manager or owner with one KPI, which means key performance indicators.

It's your per-agent productivity. Your per-agent productivity measures everything you do. It measures your recruiting, your retention, your training, your coaching, your mentoring, your marketing, your staff support. Everything you're delivering to your agents shows up in the pudding.

The proof is in the pudding. It's how well your agents are performing.

So, a question: Write this down. You should know your per-agent productivity as we sit here. If you don't, guess, but you should know it, right?

So what is your productivity when you measure it by volume and units?

If you're going to go back over the course of the last, let's say, 12 months, and if you know it, great. If you don't, I would challenge you to go back to your office and figure it out, because the higher you can push agent productivity, the happier your agents will be because they're making more money.

But you know something else that happens? Something else happens, which is kind of interesting: intuitively, the market will recognize it as well.

Those agents are closing a ton of deals. I don't think we're closing that many deals. Even if they don't know it, they subconsciously know it. And it's an attractor. People become attracted to the companies that have higher per-agent productivity.

So you can look at your per-agent productivity really easily.

This is something you should measure. A good way to look at yourself as a manager.

So how do we push numbers up? The way we push these numbers up first is we have to set expectations. Agents won't hit numbers you don't expect them to hit.

You must set an expectation for your agents because if you don't, they'll sink to the level of mediocrity they think they can get away with.

That's just human nature. People will respond to leadership, but you have to lead.

So here's what we're going to do: Set expectations at a macro level and a micro level.

What does that mean?

At a macro level, I want you to think about this, and I want you to write this down in front of you. What would you like to see your agents doing on a monthly basis for new listings taken in your company, at your branch?

Your listings taken. Write the number down. How about new pending transactions? Write that number down. So would you like them to do 50, 40, 20, 100?

Now the question is, have you communicated that to them? By saying, "Here is our macro goal at this company" it can be reached. If you don't set that goal, it's never going to get hit.

And then break it down into a micro goal.

What's my micro goal? My micro goal is, I'm going to say, “if I have 100 agents at my office and I want these agents to do 100 listings and 100 sales a month, what does that mean on a micro level?”

That means each of these agents now has a micro goal of doing one listing, one sale a month, at a minimum. Some will do more. Some will do less. But I got to set it up, right? I got to say it.

And when I say it, those agents sitting in your office meeting who haven't closed a deal in six months are going to suddenly get a little pit in their stomach because you're putting it to a micro level and you're saying, "Hey, you need to start doing something.”

It's important for you to put that out there, and you're going to create excitement that agents can and will achieve their goals by providing them with an action plan and accountability.

Giving them accountability is really, really important.

So when we talk about all this, when we're thinking about it, how do we connect the dots between what we call participation and performance?

You guys have heard me talk about the two Ps before, but for those of you that haven't heard it, or you just need another little hit on it, when we are recruiting and we're talking to new agents, but also experienced agents, we always tell them, "Hey, when you join our company, we measure you by one or two things: Participation and Performance."

So participation means you're attending office meetings, you're going to training events, you're engaging with the tools, the training, the technology that we offer.

And then we also measure you by production. So if you're out there selling a lot of real estate, taking a lot of listings, if you miss a meeting, I'll get it. If you're not dialed into every single thing we offer, I'll get it because you're busy.

What I can't have you do is I can't have you not participating and not producing. That doesn't make any sense, because I know participation leads to performance. I know it leads to production.

So I got to have you doing one or the other. I'd like you to do both.

But the three Ts are what's going to be that participation part:

Training, tools, and technology.

Now I'm going to challenge all of you. And I want you to think: if we had the time, we would all do it together right now. But when you go back to your office, I'm going to challenge you to do this:

I want you to create a value map for your company.

This is a very powerful exercise for you to go through as a manager. But what is a value map for your company?

It means writing down on a piece of paper: training, tools, technology. And then underneath each of those, list out every single thing your company offers.

And you might offer some extra things at your company too.

The training portion is going to be unique to your office in many cases because you offer unique training in your company.

So create a value map of everything. Now, what if I took that value map and I fed it into Canva AI and I said, "Create a flyer based on this with a checklist next to it"?

Very quickly, it would push out a checklist. And what if I brought that checklist to my next office meeting and I said, "Guys, we're going to do a little fun exercise right now. I want you to just take a look at all the things that we offer at this company. And I want you to circle the things that you're not taking advantage of."

And then I want you to put on the other side of that, say to yourself, "If I took advantage of that, how many extra transactions could that maybe lead to over the next year?"

Again, this is going to go to every single agent, not just the top agents or middle agents or bottom agents, but everybody is getting it.

And now they're going to say, "Oh, I guess I'm the problem here. I'm the one not taking advantage of every single thing this company offers."

You're actually recruiting them in that meeting, by the way. But it's a really, really good exercise too.
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Why do Brokerage Owners, Office Leaders, Team Leaders, and Solo Agents choose Jim to be their coach?

+ 32 Years of Real Estate Sales, Management, and Coaching Experience
+ Top 1% REALTOR Himself (he has been in the trenches)
+ Opened his First Real Estate Company at 23
+ Grew his Real Estate Company to 17 Offices (largest in Oregon)
+ His Current Team Closed $1.4 Billion in Sales in One Year
+ He is a Current Real Trends Top 500 Broker

When you work with Jim there is no "team" of coaches - you are being trained by Jim and tapping his knowledge and experience.

When your office or team joins our brokerage coaching platform, every agent at your firm will tap into our training and coaching resources.

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