According to the company, the 25 agents who participated in the inaugural training course at the LJ Hooker Institute jointly generated over 20,000 prospecting activities and listed 130 properties in their first 12 weeks in the marketplace after completing the four-day program.
“This means that each agent listed two properties per month on average – double what a typical new agent with no training or accountability program typically achieves,” the company said.
The LJ Hooker Institute has graduated 200 new agents since March from the first stage of the “elite” training course.
“Most recruits can do very well when given the right tools, so we see no reason to limit our elite training course to a small group of, say, 25,” said Graeme Hyde, LJ Hooker's head of network sales.
“Starting a new class every single month takes a big investment from LJ Hooker. This course keeps agents intensely focused on getting better results for the first two years of their career. They are held accountable for progress every single week.”
According to LJ Hooker, which has added 500 new agents in the past year, the new graduates show a 400 per cent increase in the number of properties they have already listed, on average, compared to the typical agent who has not completed the course.
“Soon, we will launch a similar course for experienced agents who can also improve their income, no matter how successful they already are,” Mr Hyde continued.
"Typically, across the industry, about half of new agents drop out during their first 24 months in the business. We expect this course to cut the dropout rates and increase the number of agents who quickly become top performers.”
"LJ Hooker offers a career pathway of learning for our people. It starts with our new salesperson and property management induction programs and continues right through to a Masters Degree in Real Estate with our partner Bond University."
The company added that two graduates of the course benefitted so much that - after only five months in their new career - they already ranked among the top 15 per cent of agents by sales in the entire LJ Hooker network.