The correct budget for each agent will vary often throughout the year and will ultimately depend on your market.
Ultimately, the right budget will hit what we like to call a sweet spot. This "sweet spot" will vary per agent and it means two things:
You are generating enough opportunities to always have enough leads to call every day during your allotted time for prospecting
You can handle the amount of leads you are generating and feel that nothing is slipping or being missed.
If you cannot agree with number one, then you are not spending enough money, with the exception of the first month of starting a lead generation program.
Keep in that when starting your program, the amount of dials you'll be able to make on a daily basis will start compounding gradually until you hit a point where you could not possibly dial every lead in your database within the day.
If you cannot agree with number two, then you might be spending too much money.
I like to reframe this as that you don't have enough agents or a Virtual Assistant.
How much should I spend?
We find most agents can get away with an amount ranging between $400 to $800 depending on their market as a starting budget. We recommend going beyond this as you start to realize your return-on-investment, as more opportunities will create a more profitable business, even if that means you're having some leads slip through the cracks.
When should I increase ad spend?
We only recommend you increase ad spend when you've validated that you are able to do the following:
Successfully book appointments with leads
Successfully meet appointment with these leads and establish the potential of doing business with them in the future.
As long as you're able to do these two things, then it will become a good idea to increase ad spend as you'll be confident in knowing that your increased investment will yield an increased return of appointments.
In terms of timing, we find most agents will do this in the first 2-4 weeks if they feel they don't have enough leads.