While it existed before the downturn in the real estate market, it has since become a new way to improve business for real estate agents and brokers.
That is, Real Estate Teams. Top successful real estate agents are forming teams to go after more listings, and to close more deals. Today, agents see teams as a collaboration to providing better services, which bring more referrals and more clients.
Top Brokers are having more recruiting efforts and discussions with real estate teams.
Our research shows that those Brokers who are successfully at recruiting teams, have benefited from the increased volume of listings and closings.
What You Should Know about Recruiting Teams
Here’s what our research discovered about recruiting teams:
1. Team Members Skills – Do not Overlap
A team should not have just one person who does all of the heavy lifting, and everyone else looks to serve that person. Instead, each person must have their own valuable contribution.
For example, one person may handle sales; another person handles rentals; someone else handles new developments; and another person handles administrative tasks, and so on.
2. Team Structure – Reduce Stress
A team must have defined ways of handling clients and problems. Each person must know how to communicate with clients and each other when problems exist; and thereby keeping stressful situations at a minimum.
For example, if a client approaches another team member about doing a side deal, what should be done.
3. Team Sales Volume – Double the Leads
A team should be generating enough leads for everyone. Having leads just for one superstar team member, will lead to frustration and resentment.
For example, doubling the number of leads ensures that everyone is busy.
Brokers are looking at the landscaping of today’s real estate market, where buyers and sellers do their own research online, then send emails at all hours of the day. In this market brokers are reviewing teams as a way to provide additional services.