Update 6: Vegas

Today, Mr. Simms and I really focused on the gritty side of the business, which is essentially making sure that all of his clients feel like they are being tended to properly and that they are kept happy.  One of the annual things Mr. Simms does to make his clients feel like they are being well represented is by taking them all out to Las Vegas, for a few days of relaxation and fun.  Each July, he explained to me, he takes about 25 of his clients along with a significant other and pays for their hotels, meals, and any other outings they want to do.  He said that while it typically costs around $50,000 to fund the trip, it was something they would keep doing because it made his clients happy.  That really struck me as surprising, as $50,000 is no chump change.  I asked him why as there was seemingly no return on this investment (i.e. no new prospective clients coming out of this trip), but he explained that when his clients are happy they will refer other NFL players that they know, and they are much less likely to flee to a larger agency because of the “family feel” of Mr. Simms business.  The agent really has to invest a lot of time and money in tending to his clients, and I guess there is no such thing as a sunk cost.