How a team can help you grow your real estate business — RISMedia
Teams have been the biggest economic opportunity to hit the real estate industry since the 1950s. They are now also the fastest growing segment of the real estate market. While it can be daunting knowing where to start, some companies offer training and coaching programs that offer proven techniques and support to help you achieve your team’s goals.
Three key things to consider when building a team
- Hire members with complementary skills. There are different models of teams, with varying sizes and structures. The large majority, 73% have two to five members, while only 4% have 21 or more members. The biggest is not always the best. What is much more important is that the members have complementary skills. You may want potential members to use assessment tools to assess their particular working, selling, and communication styles to see how they will fit into your team.
- Use technology to stay organized. An effective customer relationship management (CRM) system can increase your team’s productivity by helping them stay organized, manage contacts, and schedule tasks. Some CRMs also have a dashboard that assigns leads and tracks agent progress, as well as tracking goals.
- Training is important. Even if your agents have been with the business for a while, everyone still benefits from additional training and coaching. You want everyone on your team to be aligned with your company’s values and philosophy, while staying up-to-date on ever-changing market trends. This is where a proven and effective training system is essential.
The benefits of the right team
- Grow your business. One of the biggest issues facing real estate team leaders is recruitment and retention. Seek to hire members who are passionate about serving customers and not just for the money. You want your customers to be with you for the long haul, through good times and bad. Always instill in your team that only excellent customer service is acceptable. Happy and satisfied customers will use your services again and recommend you to their family and friends. It is therefore essential that each member of your team adheres to this philosophy.
- Manage your excess leads. The average team loses an incredible $100,000 in qualified leads due to a poor lead transfer system. As a team leader, it’s essential that your agents are skilled in handling your excess leads.
- Expand top and bottom. Of course, you want to increase your income and make sure your members get paid well too. But you also want to be recognized as a go-to expert and trusted professional in the real estate market. Look for opportunities to share your knowledge with your prospects, customers, and the community at large.
- Leverage your time and resources. With the right structure, support, and plan that includes short and long term goals, you won’t have to work 24/7. Time off is good for you, mentally and physically. Everyone needs to get away from their business from time to time so they can come back refreshed and invigorated.
Buffini & Company has been supporting clients for over 26 years, through real estate booms and downturns, like the Great Recession of 2008. They have the experience to help you navigate the changing real estate market. Why start from scratch when you can access a wealth of knowledge and experience from professional coaches. Visit buffiniandcompany.com/bc to talk to an expert about strategies that work.
For a team to operate successfully, they must subscribe to the same business values and approach as you. This is where a proven and effective training system is essential. When your team is trained in the same philosophy and techniques that have made you a top agent, you can be sure that all of your prospect transfers will be handled with the utmost care.