Building a Bench

Nate Joens: [00:00:02] Welcome everybody on this fine and freezing Tuesday morning out of Fargo and great state of Iowa. I am Nate the CEO Structurely these fine gentlemen or with Hatch coaching we're about to start our what is this our fourth webinar. Fourth or fifth team 18 20 18 eighteen hundred webinar which is how to build a bench. Erik in Robby are gonna be leading this one giving us some insights into really frankly they lost two thirds of their sales team at Hatch Realty. Guys give us some background. Let's get this thing started.

Erik Hatch: [00:00:58] So people used to ask me how much do you bench. My answer would be most of the game. And so it's fun to talk about benching once again. And so here we find ourselves dive in and I'll give you a brief synopsis in twenty seventeen. At that point that was our highest year of production for our team. We we had thirty eight or thirty nine people we sold six hundred and fifty two homes in Fargo North Dakota which is a city of one hundred and twenty thousand. The counties we serve in total are about two hundred and fifty thousand but are our main metros one hundred and twenty thousand. And we did. So we had grown exponentially and our team members never left. The people that we started with five years ago and four years ago were basically still with us and our agents were like the top of the top producers are our average listing agent sells anywhere from what is it Robby 90 or 100 homes for a listing agent and a floor is about 75 80 ish up to 1 10.

Robby Trefethren: [00:02:01] So yeah average in 90 95.

Erik Hatch: [00:02:03] Yep. And then our buyer agents were averaging you know the floor was probably thirty five for our bottom producers and ninety five for our top producers we were averaging about 60 transactions on the buy side. Now right away if you're B.S. meter is like mind you say how in the world can each agent produce so high and it's it's the leverage that we give them we have we have shown partners we have ISAs we have great admin and so the agents and their actual tasks that what they have to do on a regular basis is maybe different than most people's. And we had a group of people that had never left our turnover that happen annually was only coming from us removing people from the business. Occasionally somebody would move to a different part of the country or what it would be or we would help them find their way out the door if they weren't the right fit. And so we had 90 percent plus retention year over year. Robby what am I missing here and kind of our background.

Robby Trefethren: [00:03:03] Yeah I think just to emphasize the point of a lot of people think 90 60 homes per person that seems like the essence of valid thought I want to re-emphasize the amount of leverage and specialization that we have built in.

Robby Trefethren: [00:03:18] When you say our team was thirty nine people at peak that includes you know we have three full time ISAs as well. So there's a lot of leverage to bring temps. There's a ton of love to bring to the table as a value proposition to our team frankly and to our clients right.

Erik Hatch: [00:03:39] And so obviously the topic of this of this webinar and for us to dive in is to really understand how did we lose everyone and how do we continue to sell more houses because I told you in 2017 we sold six hundred and fifty two homes in twenty eighteen we did six sixty four we sold twelve more houses while losing five of our eight buyer agents by losing two of our five