Real Estate Teams can double your roster and closings
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.
What You Should Know about Recruiting Real Estate Teams
Here’s what our research discovered about recruiting teams:
1. Team Members Skills Should 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 listings; another person handles buyers; someone else handles new business developments; and another person handles administrative tasks, and so on.
2. Team Structure Should Reduce Stress
A team must have defined ways of handling clients and problems. Each person must know how to communicate with clients and with each other when problems exist, so to keep stressful situations to a minimum, as well as to eliminate conflict.
For example, if a client approaches another team member about doing a side deal, what should be done?
3. Team Sales Volume Should Keep Everyone Busy
A team should be generating enough leads for everyone. Having leads just for one superstar team member, will lead to frustration and resentment.
4. Expenses Should be Discussed
More expenses does not always lead to more income. Therefore, expense items should be planned. There should be very few, if any at all, surprise purchases. Also, set in advance the minimum amount that would require the team to discuss and approve purchases. For Example any item $500 or more should be discussed before the purchase is made.
5. Team Members Should have Different Strengths
Team members should not be exactly alike. I.E., members all like and dislike the same things. Each member should have some unique skills that will help the team progress. The team leader should understand the team’s strengths and weaknesses and look to add people who can add value to the team.
Well managed real estate teams…
can help real estate brokers provide additional services and support to their clients; as well as increase your brokerage sales and revenue.