Compass’s Jonathan Spears on the only two KPIs he tracks
On today’s RealTrending, we feature Jonathan Spears, founder of Spears Group with Compass in Destin, Florida. His team is ranked No. 16 medium-sized teams by sales volume on the RealTrends + Tom Ferry 2023 The Thousand.
Spears chose a career in real estate at age 18 and went into it with a specific business plan. Part of that plan continues today in how he tracks key performance indicators. Rather than make it difficult, he simplifies the process for his agents. “I would love to say that our system is complex and proprietary, but it’s not. I tell my team that there are only two KPIs to track in order to be successful and they’re both related to relationships,” he says.
Find out more about Spears’s business practices, what those two KPIs are, and how he is moving his business forward in today’s market.
Here is a small preview of today’s interview. The transcript below has been lightly edited for length and clarity:
Tracey Velt: So you track a lot of KPIs, key performance indicators. You also train on that. What are some of the metrics that you track? And how did you build the system to do it?
Jonathan Spears: I’d love to say that our system is super complex and proprietary, but I’m going to give you guys a little secret. It’s not. Relationships equal revenue, but every single aspect of your business goes back to that revenue generation. For our agents, how they build relationships and create revenue is by prioritizing and executing. And the only way that you can create those priorities and execute them is when you have a plan.
Don’t get caught up in perfecting priorities, because when you perfect priorities, you’re going to miss the success formula, which is just do it. If you go back to the inception of every great business, somebody there ‘just did it.’ They had a wild, crazy idea, and they acted on it. So with KPIs, I want people to just do two things. I need them to make calls, connect with people, and set appointments. I just need those two things. I’m not trying to overcomplicate it. I need agents to know that if they act on those two items, and that they’re consistent, they’re going see a lot of success.
The RealTrending podcast features the brightest minds in real estate. Every week, brokerage leaders, top agents, team leaders, and industry experts share their success secrets, trends, and lessons learned navigating this ever-changing industry. Hosted by Tracey Velt and produced by Elissa Branch.