The Novak Team: $120M a Year and Growing
August 10, 2022
Growing Teams, MarketingDownload pdf
Learn how one successful team in the northern Seattle, WA area is using the Sierra Interactive platform to help sell $120 million a year in real estate.
Video transcript below.
Introduction to the Novak Team
I am Mike Novak. I’m the team leader of the Novak Real Estate Team, part of REAL brokerage. My wife, Rachael, and I own and operate this team. There are five producing agents on our team and 11 support staff and partners. We sell about $120 million a year in real estate and help about 250 families each year make a move. We’re the number one team in Snohomish County, located just north of Seattle, and in 2020 and 2021 I was the number one ranked buyer agent in Snohomish County as well.
Tracking cost per close to determine profitability
We track all of our data very closely using SISU, and one of the benchmarks that I’ve looked at over a period of time has been our conversion rate on pay-per-click (PPC) traffic because that’s what we spend a lot of our money on–where we invest our dollars. We’ve converted 3.46% of our PPC leads into actual closings. The national average is less than 1 percent. Then you’ve got the hub, which is Sierra, where that lead is actually converted and managed.
I also track cost per closing because I care more about that than cost per lead. Our cost per closing is right around $1,200 using Driven Leads, Sierra and Hatch [Coaching]—all three together. And we have about a $750,000 average price point in our market, so you can do the math and see it’s a very profitable place to be.
“I challenge you to find any other platform on the market that can do everything Sierra Interactive can do in one place.”
Exploring alternative solutions
So, around four years ago, we actually tried to develop our own CRM. We kept Sierra active while we were doing this in case it didn’t work out, and over a span of 4-5 months and about $120,000 invested, we realized that we really couldn’t develop a CRM that was going to meet the needs that we had as well as Sierra could with their product development team, with their developers–just the vision for the product roadmap they had. It would have taken an army to match what they were already doing for us. I challenge you to find any other platform on the market that can do everything Sierra Interactive can do in one place.
I would highly recommend Sierra Interactive to single agents, to teams, to mega teams and all the way up to brokerages.
Sierra Interactive develops residential real estate software and services for agents, teams and brokers in the U.S. and Canada. Sierra’s proven lead generation and management solutions are trusted by top-performing teams and influential coaches in the real estate industry. Founded in 2007, Sierra is headquartered in Louisville, KY, but has a remote-first workforce across the U.S.