A real estate team isn’t always the right choice. Sometimes agents end up creating a money pit. In a recent Secrets of Top Selling Agents webinar, speaker Leigh Brown shared how to make sure your team is a success by understanding why you’re setting up a team, creating a solid foundation, and fostering a true team environment. Leigh Brown is broker/owner of Leigh Brown and Associates and recipient of a Lifetime Achievement and Hall of Fame and Circle of Legends from RE/MAX International. Find her tips below.
Why are you setting up a team?
You have excess opportunities – If you’re consistently too busy to respond to new leads or you don’t have time to give your clients the level of service you want, forming a team may be the right decision for you. Having a team can help you seize opportunities you’re currently missing out on and allow you to assist clients who need extra help.
You need better work/life balance – If you’re burned out and feel like you can’t handle it if the phone rings one more time, starting a team can help you restore balance.
Your strength lies in management – If you prefer managing, marketing, or lead generation to sales, a team can help you convert. Just remember to make sure your team members complement each others’ strengths and weaknesses.
Create a solid foundation.
Assistant – Before you start hiring agents to work leads, you need an assistant. Figure out how many hours you spend each week doing administrative work like paperwork, sending postcards, inputting new leads and listings, and placing signs. This will give you an idea of how many hours a week you should bring your assistant in for.
Referral Agent – A referral agent is great for new teams that aren’t ready to hire, train, and manage a buyer agent. Look for a like-minded agent with solid closing skills but who needs more leads. The key with a referral agent is to set expectations from the start. Know what you will pay them and have systems in place to track leads and closings.
Buyer Agent – Eventually most successful teams will need a buyer’s agent. Make sure to create a job description that sets clear expectations. Design the description to find someone who will balance your skills and personality.
Create a team environment.
Building a successful team isn’t something that can be checked off your list. It takes continuing effort to keep your team working. Hold team meetings, set goals, and do team evaluations and individual reviews for your team members. Having strong communication, specific goals, and growth opportunities for each member of your team will help make sure your team keeps working.
Find more tips about training team members, structuring payment schedules, reviewing your team, and team building in Leigh Brown’s recent interview on the Secrets of Top Selling Agents webinar program. Watch the webinar for free at SecretsofTopSellingAgents.com.