RISMedia's Real Estate Magazine

OCT 2018

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

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RISMedia's REAL ESTATE October 2018 105 Eric Pearson Founder & CEO Pearson Smith Realty Ashburn, Va. www.pearsonsmithrealty.com Region served: Northern Virginia and the area outside Washington, D.C. Years in real estate: Since 2011 Number of offices: 6 Number of agents: 877 I understand that you've crafted a solution that provides online leads for new agents with additional levels, so it won't be outgrown once they achieve success. How does this work? We have 13 pack - ages in total, the first of which is geared toward getting new agents up and running quickly. As part of this package, agents receive 30 online leads per month, all of which come from syndicated sites, portals such as realtor.com® and pay-per-click advertising through Facebook. Agents are also paired up with a broker and two managers for coaching/mentoring purposes. We pay for everything so that we're providing them with an all-inclusive package to help them ramp up their business. At the end of their first year, we sit down with each agent to deter - mine whether they're ready to move onto a different package. Agents can opt to choose another package when their own personal busi- ness is as strong as the business they're generating from the leads we're providing. Once agents have grown their business to the point at which they can go at it on their own, there are a variety of pack - ages that'll provide a better fit. How invested are you in providing company-paid leads? We're generat- ing close to 4,000 leads a month that go into this program, and realtor.com® accounts for 25 - 30 percent of those leads. I've been working with realtor.com® ever since I got started in 2011, and the quality of the leads we receive from them is higher than the leads generated from other sources. Realtor.com® is a big drive in terms of the lead program we've created and our ability to provide quality leads to our agents. What type of impact does your lead-program have when it comes to helping agents increase produc - tion? The only con to being in the real estate business is the time it takes to ramp up. While it typically takes the better part of six months to a year to truly get the ball rolling, the 13 packages I created hit on every category, whether you're a brand-new agent or a veteran with many years of experience. More often than not, agents get into real estate with a specific mindset and encounter frustration as they begin the tough task of generating leads. At Pearson Smith Realty, our goal is to solve this challenge and get agents talking to people, scripting and generating leads from day one. Are you tracking well on converting and closing? We're doing everything we can to make sure our agents stay consistent—while automating everything—and the results speak for themselves. In fact, we've had 50 - 60 agents who weren't doing a lot of business at their prior broker - age (or were brand-new), and after going through our program, they're now ranked among the top agents in the industry. How does this compete in the recruiting marketplace? We add anywhere from 25 - 50 agents a month, and while we don't do much outbound recruiting, when some - one calls in, I can show them five or six packages that are better and more comprehensive than what they're getting from their current brokerage. And while we're still new in a sense, we have the ability to change and move course if some- thing isn't working. We've been an agent-focused brokerage from day one—and we truly believe in the value the agent brings to the table. If we take care of the agent, they will take care of the client. As a business partner, how is realtor.com® performing in terms of driving value and profitability? I couldn't be happier with realtor.com®. As for those real estate professionals that don't believe in online leads, you're either not working them appro- priately, or you're not giving them enough time. Realtor.com® is extremely profitable for us. Not only do they provide quality leads, but they're also the only lead program that's guaranteed. While realtor.com® is our best lead source, in the end, it all comes down to the lead turn time. In working with realtor.com®, we're consistently getting agents hot leads, and they love and appre - ciate that. For more information, please visit hub.realtor.com/team. Attracting Good Agents and Keeping Them Focused, Driven and Productive by Paige Tepping

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