Are you a real estate agent or broker who has been thinking about building their own team? If so, this post is for you!
Today we are going to give some tips on how to build a real estate team from the ground up.
- How do I build my own team of agents and brokers?
- How can I find these people?
- What should they know before coming on board with me?
These are all questions that many agents have considered when they decide to start their very own real estate team.
– How to Build a Real Estate Team
How to Build a Real Estate Team By Answering These 12 Questions:
- Why Do Real Estate Agents Need to Start Real Estate Teams?
- What is a Team in Real Estate?
- Why Do You Want to Start a Real Estate Team?
- What is the Structure of Your Real Estate Team?
- How will Agents Benefit from Joining Your Real Estate Team?
- What is the Compensation Model for Your Real Estate Team?
- What Systems Do You Need For Your Real Estate Team?
- Who Should You Add to Your Real Estate Team?
- What are the Roles on Your Real Estate Team?
- How to Recruit Agents to Your Real Estate Team?
- How do You Lead a Real Estate Team?
- How to Scale Your Real Estate Team?
1) Why Do Real Estate Agents Need to Start Real Estate Teams?
The very first thing that I want to cover in this article is why it is so important for real estate agents and entrepreneurs to start real estate teams if they want to stay ahead of the curve. What does that mean? It means that starting a real estate team is the only way for real estate agents to go from being a solopreneur where they can only leverage their own time to create an income to being an entrepreneur where they can now leverage other people’s time and money to build a residual or passive income business.
Real estate agents work for income, not wealth. In a business where you trade your time to produce an income for you and your family, if you are not able or willing to work, then you have no income. Wealth is built in 4 ways, equity ownership, residual income, duplication, and having multiple streams of income. Building a team of agents where you can earn referral income from their production is the only way that a real estate agent can create the 4 wealth-building components, to leverage something other than their own time to create income.
Not only can building a real estate team or brokerage allow real estate agents to create more leverage in their businesses, but it can also help them guard against market corrections and expand their market share. How? By having a team of agents and brokers who are focused on different areas or markets, you as the business owner will have a better chance at not being hit as hard if one particular area of the country (or even the world) experiences a market correction.
This allows real estate entrepreneurs to create the lifestyle that they have always wanted. Most real estate agents broke into this extremely difficult and competitive business not because they wanted to work 50+ hours a week or close 100 deals every year, but because they wanted to increase their income, have more time freedom, and live a life with less stress.
Building your own real estate team can help real estate agents accomplish those goals so that they can finally realize the reason why they got into the industry in the first place, and that is to build a well-rounded harmonious lifestyle that they never need a vacation from.
2) What is a Team in Real Estate?
Before we dig into how to start, run, and scale your very team of real estate agents, I want to explain in detail what a team in real estate is and how real estate teams are defined. A team in real estate is a group of professionals who are working together to achieve common goals. This could include anything from selling more homes, making more money, or providing better service to their clients. Teams can be made up of agents, brokers, assistants, and support staff.
A team in real estate typically contains agents or brokers who are working together under the same brokerage. In order to successfully start a real estate team, first, you have to be sure that you are a brokerage with a structure that supports real estate teams. Usually, this means lower commission splits and access to resources for both yourself and your agents.
Remember, once you have started your team and are recruiting agents to your team, you are also recruiting them to your brokerage as well so it is extremely important for you to select a brokerage that you are confident in, not just for your own success, but also the success of your agents as well.
-provide team leaders and their agents with a lower commission split so both the team leader and the agents can keep more of their commissions after any additional splits.
-Provide team leaders and their agents with access to broker and admin support so agents can focus on closing deals and team leaders can focus on attracting more agents
-Give team leaders and their agents additional incentives to help team leaders retain agents and keep agents motivated and satisfied
-Access to lead generation tools, CRM systems, marketing centers, and training for both agent and team leader to assist both agents and team leaders in setting up intricate systems in their businesses.
-Provide team leaders with a variety of sustainable team structures and models so team leaders can encourage agents to grow in their careers while continuing to receive lucrative compensation from the production of their agents
To learn more about how you can set up your real estate team with these systems and more, click below!
3) Why Do You Want to Start a Real Estate Team?
Before you begin your journey in building your own real estate team, you first need to ask yourself why. What is your motivation for wanting to create a real estate team? Is it because you want more control over your business and the ability to work with like-minded individuals? Or are you looking for an opportunity to delegate tasks, so that you can focus on building new business relationships and growing your client base?
No matter what your reason may be, it’s important to have clarity around your motivations from the get-go. This will help keep you focused as you go through the process of assembling your team, and make it easier for potential members to understand where you’re coming from.
Now that we’ve covered why having a real estate team is important, let’s take a look at the steps you need to take in order to build one.
Define Your Team’s Purpose
Before you can start recruiting team members, you first need to define what your team will be responsible for. What are the specific goals and objectives that you want it to achieve? This could include things like growing market share, increasing profits or expanding into new territories.
Once you have a good understanding of your team’s purpose, put together a mission statement that outlines these goals and how the team plans on achieving them. Having this document in place will help keep everyone on track as they work towards common objectives.
4) What is the Structure of Your Real Estate Team?
Once you have defined your reason for starting a real estate team and defined your team’s purpose, it’s time to consider the structure of your team. How will you divide responsibilities? How many people do you want on your real estate team in total? Will everyone be an owner or a manager, or does someone need to report directly to one another
Decide How You Want Your Team Members Organized
There are a few different ways you can organize your team members, and the structure you choose will largely depend on the size of your business and how much work needs to be done.
It is important to consider your goals when you are deciding on the structure of your team. Do you want everyone to be working on the same tasks and have more freedom to run their own business, or do you want your agents specializing in different areas such as buyers’ agents and listing agents to work more closely with each other?
If your goal is to build a team large enough so that one day you can have the residual income to exit the business, you will want to start with a structure that allows everyone the opportunity to work on their own business with more freedom.
If your goal is more short-term, such as increasing market share or having enough agents sell listings so someone can take time off, you will likely have a different team structure in place where some of the members run their business with more freedom while others do not and takes on more delegation from other agents on the team.
5) How will Agents Benefit from Joining Your Real Estate Team?
After deciding on your real estate team’s structure, you now have to focus on how agents will benefit from joining your team and what is your team’s value proposition. What are the incentives you can offer them?
Some common benefits include:
– A commission split that is more favorable than what they would get working on a different team or at a different brokerage
– Training and support in order to help them grow their business on their own
– Access to leads and marketing resources that they would not have access to if they were working on their own or on a different team or brokerage
– The ability to work with likeminded individuals who share their values and goals
When putting together your recruiting pitch, make sure you highlight these benefits so potential members can see why it would be advantageous for them to join your team.
Deciding on your Team’s Benefits
When you are deciding on the value proposition for agents to join your team, keep in mind the structure and purpose of your team. How can you attract agents that are a good fit for your team?
If the goal of your real estate team is to build market share, then marketing resources and leads may be more important than training. If your team’s purpose includes growing individual incomes by providing them with better commission splits, consider what percentage split they will receive depending on how much work they do or whether their commissions are tied to other metrics such as transactions closed or units sold.
For team leaders who are looking to build a large enough business so that they can one day exit the business, the value they should provide their team should help their agents develop more skillsets so they can grow their own independent businesses as well as provide their agents with the opportunity to grow their current business such as giving them additional income opportunities, benefits such as equity positions in their company, or leadership opportunities.
Understanding Your Team Members’ Needs
It is also important that everyone understands the value proposition so no one feels like they were misled when joining the team. Communicate these benefits clearly at all stages in order to avoid unpleasant surprises down the road
Remember: each member has different needs and expectations and you can not help every single real estate agent in the world.
6) What is the Compensation Model for Your Real Estate Team?
Deciding the compensation structure for your real estate team is an extremely important step in building your real estate team because it not only decides how much your agents will be compensated, but it will also determine how you will be compensated as well.
When deciding how you and your agents will be compensated, consider the following:
– How much work does each agent do? If they are not doing much, it is probably best if their compensation reflects that.
– How much training or support will your agents need in order to grow their business?
– Will you provide them with enough resources so they can be self-sufficient and no longer require additional help from you as time goes on? Or would this require more involvement on your part down the road? How will that affect how your team members pay you back for what you have invested into them at first when building up their business before they started producing high returns for everyone involved?
– How long do agents typically stay within a company’s brokerage/team before because of burnout or frustration?
-How much training do you have to invest in them before they are able to start producing high returns for everyone involved? How long will it take until your agents become profitable so that the team can be sustainable once again, but this time with higher production levels from each member?
– How does each agent’s compensation contribute back to your team business as a whole, and what is their value within the business if they were removed or left? Are you compensating people who would not be valuable without your product/service based on their skillsets alone (i.e., good at selling real estate)? How big of an impact would removing someone make towards achieving profitability for all members down the road?
The Different Ways to Compensate Your Agents
There are many different and creative ways that real estate teams compensate their agents.
Split Teams
The most common way is taking an additional split from your real estate agent’s commissions either before or after they have split with the brokerage. This is called a split team. Usually, team leaders that provide their agents with leads and those that provide their agents with more hands-on support are best equipped to run a split team. When you are giving your agents more hands-on support and providing a piece of their business to them (i.e. giving them leads to work) then you have more justification for taking an additional percentage of their commission.
Hybrid Teams
Another way a split team can be run is when a team leader only takes an additional split from their agents’ closing if they provided the lead that led to that sale. This is a great way for team leaders to run a more sustainable team long-term because they are only receiving compensation from their agents if they provided them with adequate value, while also giving their agents the opportunity to become more independent within their business.
Starting a Brokerage
Now you might think that taking additional splits from your agents on top of the split they already pay to the brokerage may be a put-off for a lot of agents that repels top producing or more productive agents from joining your team. One way around that is by starting your own brokerage.
If you start your own brokerage, you now only have to take one split from any agents that join your company instead of taking an additional split from your agents in order for you to be compensated. But starting your own brokerage is a lot of work. You are not only taking on financial risks with the increased overhead of running an entire office, but you are also taking on more legal risks since you are now responsible and liable for your agents’ actions. Luckily, there is a way around this.
Referral Income Teams
The last and in my opinion, the best option, to run a real estate team is by partnering your business with a brokerage that already has a team-building option for its agents. Brokerages such as eXp Realty, EXIT, REAL, and Keller Williams all have team-building opportunities for their agents, where agents have the opportunity to build their own team without having to take any additional splits from their agents by simply attracting other real estate agents to their brokerage.
These team-building models pay team leaders a referral from the brokerage side of the commission split, where instead of taking additional splits from their agents, team leaders are paid on the production of their agents through the company. Instead of charging the agents on your team an additional 25-50% split on their commissions, the brokerage will pay you, the team leader, a percentage of the brokerage side of the agent’s commission split whenever an agent on your team closes a deal.
To learn more about the additional benefits of Referral Income Based team-building models such as global growth opportunities, risk mitigation, capital allocation, acquisitions opportunities, and duplication click here.
7) What Systems Do You Need For Your Real Estate Team?
The next step in determining how to build a real estate team is deciding what systems you will need for running your real estate team. Systems are important for any business, but they are especially crucial in a real estate team because of the complexity of the transactions and the number of people that need to be coordinated in order for a deal to go through.
Lead Generation System
The first system you might need is a lead generation system. A lead generation system is how you generate leads for your agents to work. By now you should have already decided whether or not you want to provide your team with leads. If not, decide right now.
Once you have decided, you will know what type of lead generation system to implement. If you are giving your agents leads, you will want a system to generate an abundance of leads for your team to work and how to distribute them to your team. If you are not going to give your agents leads, you will want to provide your agents with one or more systems or platforms to generate leads by themselves.
There are many different ways to generate leads, but some of the most common methods are online marketing, direct mail marketing, the sphere of influence marketing, or farming an area.
Once you have a steady flow of leads coming in, it’s important to have a good intake process so that you can qualify those leads and determine which ones are worth following up with. You also need to have a system for tracking your leads so that you can determine which lead generation methods are the most effective.
Lead Distribution System
The second system you might need is a lead distribution system where your agent’s leads are sent into one central place that all of the agents can access to follow up on their own without having to communicate with each other about who gets which prospect first. This way they don’t have to worry about double-booking someone or sending too many emails at once because these issues will be settled within the CRM software you implement for your team.
Training System
The third system you will need is a training system. A good training system will not only train your agents on the basics of real estate, but it will also train them on how to run their business and market themselves. It’s important that all of your agents are trained on the same material so that they are all working from the same playbook.
Some ways to implement a good training system are through live coaching calls, mentorship programs, masterminds with top agents, and remote training sessions for time efficiency.
Agent Communication Systems
The fourth system you will want for your real estate team is an automated communication platform where all of your agents stay in touch regardless if they’re together or not (i.e. Slack or Workplace). This system will keep your team updated on what is going on and it helps to push out critical information such as changes in deadlines, new leads, opportunities for business development, etc.
Support System
The fifth system you will need is a support system. A support system is important because it provides your team with the resources they need to be successful. This might include things such as office space, computers, marketing materials, or even just someone to answer their questions.
Learn more about the most time and cost-efficient real estate support system in the world!
Recruiting System
The sixth system you will need is a recruiting system. A good recruiting system will help you attract the best agents to your team. Some common methods of recruiting agents are through social media, job postings, or networking events.
Check out the PROVEN 6 step Recruiting System that has recruited over 1500 agents to one team in just 4 years!
Management System
The seventh system you will need is a management system. A management system is important for overseeing the day-to-day operations of your team and making sure that everyone is on track. This might include things such as creating agent productivity goals, assigning leads, tracking sales activity, or managing customer relations.
There are many different systems that you can use for your real estate team, but these seven are some of the most important ones.
8) Who Should You Add to Your Real Estate Team?
Before you start attracting real estate agents to your team it is important to determine who your ideal agent is. You need to have a clear idea of the type of person you are looking for so that you can market your team in the most effective way possible.
Some things to consider when determining who you should add to your team are:
– Their experience level (new or experienced agents)
– How many leads they generate per month
– How many transactions they complete per year
– What type of real estate they specialize in (residential, commercial, etc.)
– Their location (local or national)
The type of agent you attract to your team should be in full alignment with your team’s mission statement.
Staff Members for Admin Support
Aside from determining what type of agent you want to attract to your real estate team, you should also determine if you want to add staff members. Some real estate agents choose to run their business alone, but in order for them to be successful they will need a good support system and an effective management team behind them. Staff members can take care of many tasks such as:
– The coordination of all your agent’s transactions (i.e. transaction coordinators)
– Handling the administrative work it takes for running a large company (i.e. office manager or assistant)
– Marketing research that is tailored specifically towards each individual agent’s needs (i..e marketing specialists and social media managers).
The number of staff members that are hired on your team should depend on how much help you think your agents require in order to get more leads and close more deals.
If you are feeling overwhelmed with the thought of building your own real estate team, or if you just don’t have the time to do it yourself, then consider partnering your business with us. Our team will help keep your agents organized and trained, automate your agent attraction, outsource your entire management system, and develop your skills as a leader so that your agents can generate more leads and close more deals while you focus on only the fun and fulfilling parts of growing your business!
9) What are the Roles on Your Real Estate Team?
Now that you know who you should add to your team, it is important to understand the different roles and responsibilities for both your agents and any staff members you hire.
Give Everyone a Role & How It Fits Into the Bigger Picture
In many cases, team members may not have experience in real estate prior to joining your group. In those instances, it’s important that they know exactly what their role is as well as how it fits into the bigger picture of success for everyone involved. What are some things you could do? Perhaps giving them access to certain resources or training material so that they can better understand market trends and learn more about popular marketing strategies would be a good place to start!
Different Roles on a Real Estate Team
There are many roles for both agents and staff members on a real estate team. Here are a few of the most common ones:
– Leader
– Trainer
– Coordinator
– Marketer
– administrator
Each of these roles has different responsibilities and tasks that they need to complete in order to help the team as a whole be successful. It is important for everyone on the team to understand their role and what is expected of them so that there is no confusion or miscommunication. When everyone knows their place and specialty on a team and what they need to do, your real estate team will be more effective than ever!
Agent Roles
If you are running a structured production team that aids your own production, it is important to define certain roles for your agents as well. Usually a production team needs 3 main types of agents: Buyer representation specialists, listing agents, and inside sales agents.
A buyer representation specialist, also known as a buyer agent, is an agent who represents the interests of their client in transactions for buying or selling real estate.
A listing agent gets his/her commission by representing the seller and helping to sell their home or property. Listing agents only work with sellers and specialize in giving listing presentations, working with sellers to get their homes ready to sell on the market, marketing properties through different channels, and presenting offers to their seller clients.
An inside sales agent works from within the office and focuses on generating new leads through phone calls as well as other methods such as email marketing campaigns to drive traffic into open houses etc. They are typically compensated, in part by salary but especially by production bonuses based on how many clients they find and qualify each year.
10) How to Recruit Agents to Your Real Estate Team?
Now that you have determined who your ideal agent is and what their roles are, it’s time to start attracting them to your team. How you go about doing this will depend on the type of person and location you are looking for along with what systems you already have in place.
Some common ways real estate agents can be recruited include social media marketing (i.e Facebook ads), job postings, networking events, direct mail campaigns, or cold calling/emailing lists from other brokerages or agents nationwide. When thinking about how to find good candidates try not to think about yourself as a recruiter but instead use an outside perspective and imagine if someone was trying to convince YOU why they should join their real estate team! How would they do that? What makes them special? How would they stand out from other real estate agents who are looking for new teams to join?
Assemble Your Core Group
The first step in recruiting agents to your real estate team is to assemble a core group of players. How many people you include on this list will depend largely on the size and scope of your business, but for most agents it’s typically best to start with three or four members who have varying skill sets.
What are those skills? Well, that depends entirely on the type of work the team plans on doing. For example, if one member specializes in commercial properties while another focuses primarily on residential homes, then they would be good candidates for your roster. On the other hand, if you plan on working only in one area of real estate, it might be best to find agents who are skilled at different niches such as one who specializes in investment properties while another specializes in social media marketing.
Once you’ve identified your core group of players, take some time to get to know them better by asking questions about their personal goals and objectives as well as what they are looking for in a team environment. How do they feel about taking on more responsibility? How much autonomy will each member be given over the work that needs to be done? Staying focused on these types of details upfront should help everyone feel that they made an informed decision when joining your real estate team.
How Do You Find Real Estate Team Members?
Once you have assembled your core group of agents, it’s time to find potential candidates who could benefit from being part of this group. Who should be on your list? Anyone who has skills that align with what you’re trying to accomplish. For example: buyer’s agent if you are looking for someone to delegate the buyers’ representation side of your own agent business.
Assemble Your Recruiting Team
Now that you know what you’re looking for, it’s time to put together your recruiting team. This could include friends, family members, agents from your core group, or business partners who share a common interest with you or your real estate team or business.
Your recruiting team will be responsible for helping you reach out to potential agents and helping them understand how joining your team can benefit them. They should also be able to answer questions potential agents have about what it would be like to work on your team and then introduce them to you or a master recruiter.
Create a Recruiting Value Proposition
Once you have assembled your recruiting team, it’s time to create a value proposition that they can use when talking to potential members. This should include all of the benefits that agents will receive from working on your real estate team, as well as information about the structure of the team and how everyone will be organized.
Making a value video or using a live rehearsed presentation can also help to engage potential members and show them what it would be like to work on your team as well as give your potential recruits the information they need to solve a potential problem in their business or lifestyle that would attract them to your team.
Start Recruiting Agents
Now that you have everything in place, it’s time to start recruiting agents! Your recruiting team should begin reaching out to agents who they think would be a good fit for your team and explain the benefits of joining.
Remember, it’s important to be selective when choosing new members so make sure you are only inviting those who share your same values and goals for the real estate team.
Once you have recruited a few agents, it’s time to get started working on growing your team for long-term sustainability in the future!
Set Expectations for Joining & Leaving the Team
One of the most important aspects of any business is having an understanding of what happens when someone joins or leaves the team. How do you go about setting these expectations? By having a written agreement in place that outlines everyone’s responsibilities, rights and privileges. This could be something as simple as a one-page document that everyone signs upon joining the team or even an informal chat over coffee.
In addition to setting expectations for joining and leaving the team, you should also have a plan in place for what happens when someone is no longer able to work with the group. Perhaps they’ve relocated to another city or decided to take some time off to travel – whatever the reason may be, it’s important that everyone is on board with how things will operate during their absence.
11) How do You Lead a Real Estate Team?
Now that you have recruited agents to your real estate team, it’s time to start thinking about leadership.
How do you lead a real estate team? Whether your agents are working on their own or under direct supervision, the following tips will help keep everyone in alignment with your core values and accountable for making decisions that benefit both yourself and the group as a whole:
Communicate & Delegate Effectively
One of the biggest challenges for any manager, real estate agent or otherwise, is communicating effectively. How do you keep everyone in the loop without overwhelming them? How can you ensure that tasks are being distributed evenly amongst your team members?
One tip is to make sure all of your communication channels (phone calls, emails, text messages) are working properly and also define who gets what information on a regular basis. If someone leaves it’s important for the rest of the group to know how their work will be covered so they don’t end up feeling like they always have more than their fair share of responsibility!
Make Sure Everyone is Aligned With Your Team’s Purpose & Values
Now that you have all of the pieces in place it’s important to make sure everyone is aligned with not only your overall vision but also the team’s purpose and values. How do they feel about the work that needs to be done? What are their thoughts on your mission statement? Are there any areas where they disagree with you or other members of your core group?
Manage Expectations & Performance Objectively
While open communication is key when creating an effective real estate team, it’s also important to make sure everyone knows exactly what is expected of them. How much time are they required to devote each week? How will their performance be measured against the agreed-upon objectives that were outlined in your mission statement?
Keeping track of every member’s progress and holding regular meetings where you can discuss how well or poorly certain tasks have been completed will help keep things moving forward towards common goals. This way there should always be a clear understanding about who needs to do what, by when. If this isn’t done correctly then all topics discussed at marketing meetups could fall on deaf ears as no one feels accountable for completing any given task!
If you decide to run a team where your agents are more independent and work as business owners then you need to set the expectation that you will not be assigning any tasks to them and they need to be responsible for their own business.
As a leader of a more independent team, you need to be able to motivate your team to generate more business for themselves through huddles, motivational coaching sessions, mastermind calls, and events, and leading by example.
Maintain Accountability & Transparency Between All Members
As the team leader, it’s important to ensure that everyone is held accountable for their actions. How do you plan on doing this? By implementing a system where tasks are assigned and tracked through a central management platform for example. This could be something as simple as a shared Google Doc spreadsheet or Asana project where all members have access and can update the status of any given task as it progresses.
In addition to maintaining accountability, transparency between all members is also key for building trust within the team. How do they feel about sharing personal information with each other such as contact details, commission splits, etc.? Doing so will help create a sense of camaraderie which in turn should make working together much more enjoyable.
When it comes to aligning everyone around a similar vision, having regular meetings to discuss progress will help keep things moving forward in the right direction. If someone feels like an issue isn’t being addressed then this would also be a good time to bring it up so that everyone is clear on what each member expects from one another as well as how important certain tasks are for achieving success.
12) How to Scale Your Real Estate Team?
The very last step in how to build a real estate team is to scale your team. How you choose to scale your team is entirely up to you. How do you want it set up? How many total agents will there be? Coming up with creative ideas on how to keep your team sustainable for long term productivity and growth is essential for team leaders who want to one day exit their business and spend more time with their friends and family, living the lifestyle that they set out to achieve from when they first started their teams.
Make Sure Your Team Can Handle Growth Over Time
One of the most challenging aspects of building a successful real estate team is figuring out who works well together and who doesn’t. How do you know when it’s time to add another member and what are some signs that your team might be growing too large?
One common sign is if everyone is feeling bogged down by the amount of work they have on their plate. This could manifest itself in members becoming less responsive, taking longer to complete tasks or simply exhibiting general dissatisfaction with their current workload. If this happens then it might be time to consider hiring an assistant or bringing on a new team member who can help lighten the load.
Regularly Evaluate How Things Are Going
Like any good business, it’s important to regularly evaluate how things are going in order to make necessary changes and improvements. How often should you be doing this? It really depends on the team but we recommend at least once every quarter.
What should you be looking at during your evaluations? Everything from how well team members are working together to their individual productivity levels and even how happy everyone is with the current arrangement. This is also a great time to assess whether or not everyone is still meeting the original goals that were set when the team was first formed and at the beginning of each quarter.
Celebrate Milestones Together & Encourage Professional Development
A real estate team isn’t just about getting the job done, it’s also about having fun along the way! What better way to build team morale than by celebrating milestones together? Whether it’s reaching a certain number of sales, reaching a certain number of agents in your company, or simply completing a project on time, taking the time to acknowledge everyone’s hard work is key for keeping spirits high.
Some great ways to keep your team’s morale high and your agents engaged are running weekly, monthly, quarterly, or annual contests and challenges, organizing team trips, attending company events and conventions, and having regular team get-togethers in person or online.
In addition to celebrating successes, you should also encourage professional development amongst your team members. How do they want to grow their business? What skills do they need in order to take things to the next level? Providing access to additional training programs, webinars, and other self-development and business development resources can help them achieve their goals while strengthening the team as a whole.
Be On The Lookout For New Opportunities & Keep Your Marketing Skills Sharp
An often overlooked aspect about building & maintaining a real estate team is staying fresh with new skills while keeping an eye out for new opportunities. How can you do this? By taking the time to attend industry events, read up on the latest trends, and even network with other professionals.
The bottom line is that a real estate team isn’t just about getting the job done – it’s also about having fun, setting expectations, and keeping everyone on their toes! Follow these simple steps and your team will be off to a great start.
Do you have what it takes to build a successful real estate team? If so, follow these twelve simple steps and watch your business grow! Milestones will be reached together, professional development encouraged and communication & delegation skills honed – all while maintaining a sharp focus on new opportunities.
Learn Why eXp Realty is the Best Brokerage for Real Estate Teams
How to Build a Real Estate Team: Bottom Line
Building a team in real estate can be one of the most profitable and satisfying decisions you make. But it also requires quite a bit of work and dedication to get right. The key is understanding your purpose, knowing what systems will help your team grow successfully, and then finding agents that share those same values with you.
If you’re looking for a way to increase your income, grow your market share, and build an online presence in the real estate industry all at once, then building a team is just what you need. To help you get started on this journey of creating your own successful real estate team with agents who are excited about their work and love being part of something bigger than themselves- we have some essential tools, systems, assets, and resources that every leader needs to implement so they can recruit high-quality agents.
If you are feeling overwhelmed with the thought of building your own real estate team, or if you just don’t have the time to do it yourself, then consider partnering your business with us. Our team will help keep your agents organized and trained, automate your agent attraction, outsource your entire management system, and develop your skills as a leader so that your agents can generate more leads and close more deals while you focus on only the fun and fulfilling parts of growing your business!