| | Year 1 | Year 2 | Difference | Percent Difference | | --- | --- | --- | --- | --- | | Total Volume | $208,362,228 | $506,950,156 | +$298,587,928 | 243% | | Total Units | 441 | 1183 | +742 | 268% | | | | | | | | Pro Volume | $29,997,898 | $388,934,841 | +$358,936,943 | 1,297% | | Rookie Volume | $146,873,530 | $118,015,315 | -$28,858,215 | 80% | | | | | | | | Total Rev Share Paid Out | - | $179,663 | | | | | | | | | | Rookies with 1+ File Funded | 54 | 63 | +9 | 117% | | Rookies with 3+ Files Funded | 20 | 56 | +36 | 280% | | Rookies with 10+ Files Funded | 9 | 18 | +9 | 200% | | | | | | | | Agent Count | 111 | 209 | +98 | 188% |
Note: BRX launched on August 1, 2021, and we track our results based on our launch date, not by calendar year.
Wow. What a crazy ride this past year has been! Our total volume was up by 243%, and funded files increased by 268%.
Even in this challenging market, we doubled the number of rookie agents who funded 10+ files. I think this is a testament to the type of agent we attract, and to our amazing underwriters and coaches.
The total rookie volume was down by about 20%, compared to our previous year. However, considering that the overall market was down by 30% to 40%, and that rookies generally do not have a database of clients, I am quite happy with that result.
I personally believe that rookies who enter this market and find a way to grind out success will be the future giants of our industry.
A tough market builds tough competitors.
I also did some analysis on the results of the rookie program since we launched it. We are currently doing a rebuild that I will share more about in a future blog post.
Total number of Rookies who have funded 1+ files – 117
Total number of Rookies who have funded 3+ files – 76
Total number of Rookies who have funded 10+ files – 27 (Grads)
Total number of files funded by Rookies and Grads – 1,007
The Pareto Principle states that 80% of results come from 20% of effort. This is also true of the Rookie Program. Of the 117 agents who have funded 1+ mortgages, 23% of them, or 27, to be exact, have funded 10+ mortgages.
Also, of the 1,007 mortgages funded by Rookies and Grads, 709 of them were funded by the 27 grads. Which is 70.4%.
It’s not 80/20, but it’s dang close.
After coaching for six years, I have come to realize that I can’t tell who will be in the top 20%. People will fool you.