How to build your real estate team

How to build your real estate team

More and more Real Estate professionals are equipping their brand with a real estate team.  Recent studies have shown that this trend will continue to grow over the next few years, so don’t get caught unprepared!

Are you starting to have so many contacts that you can’t manage them effectively? Or are you going crazy because you find yourself filling numerous and different roles at the same time? While being a super busy real estate agent is certainly a good thing, if you start having management difficulties it could lead to disaster in a short amount of time.

Building a real estate team at your agency will bring you a whole series of advantages: not only will you be able to increase productivity by leveraging the strengths of the group members, but you can also quickly expand the knowledge base of each of these subjects. . Indeed, the sharing of time, space and experiences will ensure that there is a strong exchange of knowledge. So here are some useful tips on how to build a real estate team.

Before creating your real estate team

Before hiring those who will join your real estate team, you need to do a thorough analysis of what the purpose behind it all is. Do you want someone to share the workload that has become too heavy with? You need staff to take care of activities for which your license is not required, such as web marketing activities, social networks (are you interested in discovering the best real estate social media marketing strategies? Click here! ), Administrative activities or more? Do you want to offer a more complete and quality service to your customers? Do you simply want to increase your earnings?

None of these reasons is right or wrong, but simply, defining the purpose for which you are going to create your real estate team, will help you to include the right people within the group, in order to achieve the set goal. Once you have understood and defined your purpose, you can proceed with the search for personnel to be included in the agency.

Finding a collection of people who work for you might be easy, but finding the right members of your real estate team who have similar personalities to you and who share your goals may take longer than you think. For this reason, before hiring someone, you must also try to understand what their goals are: only those who are truly aligned with you from this point of view, will be able to replace you worthily in the event of your absence.

A further factor to take into consideration is linked to the personality of those who will become part of your team: it would be advisable that the group you are going to form is composed of subjects with complementary characteristics so that the strengths of some go to compensate for the weaknesses of others.

To understand if a particular person is suitable for your team, you can analyze a whole series of elements. Here are some ideas:

  • How much and what potential can it have?
  • How much time, energy and effort will it cost me to train this person and make them independent?
  • What benefits could it give me?
  • If this person were hired by a competitor of mine, could they pose a threat to me?

Who will be part of your real estate team?

Each person who joins the team must feel part of the group and above all must feel and make their own all the benefits deriving from teamwork. Only when the real estate team works synergistically, as if it were a single individual, can we truly create greater value for the customer.

In addition, be careful to clearly define, from the beginning, the roles that each member of your real estate team will fill. This can certainly make the difference between having a successful, cohesive and enduring group in which everyone contributes to the ultimate goal, and having a weak set of individuals where everyone thinks of themselves and their own. Personal goals.

Administrative assistant

If you think the workload has become too heavy, we recommend that you first hire an administrative assistant – someone who is highly motivated and organized to help you with your day-to-day administration tasks.

This will allow you to focus on your core activities, thus also increasing your earning potential. If you are unsure whether you can afford a full-time administrative assistant, you may want to hire a virtual assistant.

In any case, it would be advisable to acquire such an asset, if your workload is such that you can make an average of 25-35 sales per year, otherwise it is not really worth it.

Buyer specialist

The main reason why building a real estate team is essential is related to customer management. Real estate agents often come to a point where they can no longer manage all their contacts independently.

Do you feel concerned? Well, then it’s time to go looking for a buyer specialist, or property finder. It is a person with the responsibility of assisting numerous clients, helping them to find the home of their dreams. So this figure will definitely have to have good skills in building relationships, as well as good organizational skills.

Each buyer specialist should manage at least 30 contacts. Spend time training your agents so that they can offer adequate and valuable service to your customers.

Listing Specialist

You have now introduced a property finder to your real estate team, but you find yourself constantly having to go to your clients’ homes to make estimates and assessments in search of new property acquisitions.

The next step is to hire another specialist, who can typically manage 100-150 transactions and acquisitions: this is the listing specialist, or to put it mildly, the business finder. Usually, for this type of professional a basic salary is sufficient, plus a commission incentive in the event of the sale of acquired properties.

Once you have created the real estate team that suits your needs and akin to your personality, it is important to start delegating responsibilities. This could be quite difficult, a real challenge, especially for real estate agents who have always worked individually, but you will certainly see the benefits!

Delegating tasks to your new assistants will allow you to be able to dedicate yourself more to the activities in which you want to focus your efforts, such as taking care of new contacts, or converting the leads generated into real customers, thus addressing the indecision of customers in buying a house.

Be a good team leader

One of the main reasons why a real estate team fails is linked to the team leader’s ability to create the right work environment. Being a self-centred leader focused on your own personal success rather than developing an efficient real estate team could only lead to bad results.

Don’t forget that building a team means that the team leader becomes responsible for all group members.

True leadership is about delegating responsibility and decision-making power to the right people. A good leader is able to understand that everyone has strengths, and exploits them properly.

If you give the right value to the people around you, they will be more willing to dedicate their time to you and will focus more effectively on the final goal of the group. You must therefore seek to know and understand the people who are part of your real estate team to inspire them and to enhance their skills.

Conclusion

Here is our guideline for creating your real estate team! We know that creating a new work team in which to join could be a real challenge for you, but our advice is to get involved because you will certainly benefit from this new asset. The positive sides will also be in favor of your customers, as this process can only lead to an increase in their customer experience, which could (why not?) Lead to a consequent increase in turnover.