The real estate industry is a competitive one, and in order to succeed, you need the right team behind you. A real estate agent team can be broken down into three main roles: listing agents, transaction coordinators, and administrative support staff. However, there are other positions that may be required depending on the size of your business or how many people are on your team. In this article, we will explore these different roles and what it takes to fill them so you can have an incredible team!
The 9 Real Estate Team Roles:
- Team Leader
- Real Estate Coach
- Transaction Coordinator
- Marketing Manager
- Buyer’s Agents
- Listing Agent
- Real Estate Recruiter
1) Team Leader
The first position on a real estate agent team that you have to account for is…yourself, the team leader!
You are the person who manages all of your agents and ensures that their roles are filled appropriately. This role is extremely challenging because you have to know what structure your team will support, what positions you need on your need, how each position works in order to hire people for them, and set the vision for the direction of the entire team.
One of the most important roles that a real estate team leader fills on their team is to motivate and direct the agents and staff members on their team to reach their full potentials so that the team can generate the most business and produce optimal revenue. As a team leader, your communication and influence skills are the most important when it comes to leading your real estate team the right way.
2) Real Estate Trainer/Coach
Most real estate teams with large agent counts usually like to hire a coach or a trainer for the agents on their team. This position is responsible for developing and implementing training programs to help the agents on the team improve their skillsets.
The trainer/coach usually meets with the new agents during their initial onboarding process, provides support to them as they adjust to life on the team, and monitors each agent’s progress over time. They are also responsible for creating a positive learning environment in which all members of the team feel comfortable asking questions and making mistakes. The coach or trainer should also have extensive knowledge of real estate so that they can provide relevant and up-to-date information to their agents when needed.
If you’re looking for someone who can fill this role, be sure to look for someone who has experience coaching or training people, preferably in real estate. The best way to find a suitable candidate is to interview them and give them an assignment or test of some sort in which they must demonstrate their skills. You should also look for someone who has extensive knowledge about the market that you work in as well as real estate laws, rules, regulations, and trends so that they can provide relevant information during training sessions.
A lot of times the real estate team leader will also take up the position of a coach or trainer, especially when they are new to being a team leader or have a smaller team size where it would make more financial sense to train the agents themselves rather than to hire a real estate coach.
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3) Transaction Coordiantor
The transaction coordinator is responsible for organizing all of the paperwork associated with a real estate transaction and ensuring that it is completed on time. They also act as a liaison between the buyer’s and seller’s agents, making sure that everyone is kept up to date on what is happening in the deal. The transaction coordinator should have strong organizational skills and be able to stay calm under pressure.
The transaction coordinator is the point person for all communication between all parties involved in the sale or purchase of a property. They manage timelines, deadlines, and keep everyone on track so that the process goes as smoothly as possible. This position is essential to keeping things organized and ensuring that no detail falls through the cracks. Look for someone with great organization skills, excellent communication abilities, and who is comfortable working on multiple tasks simultaneously.
4) Marketing Manager
A marketing manager can be extremely helpful for real estate teams with more agents because they can help to streamline and systemize the marketing efforts of the team. This way, each agent on the team can have their own unique marketing while following the same general theme.
The marketing manager is responsible for creating and implementing a marketing plan for the real estate team as a whole. They develop campaigns and strategies to reach new clients, create collateral materials such as brochures, flyers, and website content, and track the results of all marketing initiatives so that they can optimize future campaigns.
This position is responsible for developing and implementing marketing campaigns that will generate leads and business for the team. They work with various media outlets to get the agents’ names out there, create advertisement materials, and track the results of all marketing efforts so that they can optimize future campaigns.
The marketing manager should have a strong understanding of digital and traditional marketing tactics, as well as how to measure their effectiveness. They should also be up-to-date on real estate laws, rules, regulations, and trends so that they can provide relevant information to agents when needed.
If you’re looking for someone to fill this role on your team, look for someone who has experience in digital or traditional marketing, preferably in the real estate industry.
Administrative support staff are responsible for performing a wide range of tasks, such as answering the phone, scheduling appointments, and handling the mail. They may also do some basic bookkeeping or marketing duties. This position does not require a lot of real estate knowledge, but it is important that the person in this role is organized and has good customer service skills.
This role can encompass many different positions such as marketing assistants, client care coordinators, bookkeepers, etc. Essentially, anyone who supports your real estate team behind the scenes by completing administrative tasks such as answering the phone, sending mail, making copies and filing documents can be placed in this role.
Administrators are essential to real estate teams that have a lot of agents on their team because it helps everyone stay organized and keep track of all the incoming communications. Look for someone who has experience working with a variety of people in an administrative capacity (i.e., call center) or bookkeeping background so they are comfortable dealing with clients’ questions and concerns while being efficient at completing tasks using precise systems.
6) Buyer Agents
One of the first agents that a real estate team leader will want to look for when they start their teams is a buyer’s agent. A buyer’s agent is someone who represents the best interests of the person buying the property. They are responsible for finding properties that fit the buyer’s needs and wants, negotiating on their behalf, and helping them through the entire purchase process.
A good buyer’s agent should have a deep understanding of the local real estate market so they can find properties that meet the buyer’s criteria quickly. They should also be skilled in negotiation so they can get the best deal possible for their clients.
Look for an experienced agent with a solid track record of closing sales transactions successfully. You’ll also want to make sure that they have a good rapport with buyers and are comfortable working with them throughout what can often be a long and complicated process.
Since most real estate agents start their own teams when they have too many leads and can only work with listings, finding the right buyer’s agents is a skill that almost all team leaders need to have.
7) Listing Agents
As your real estate team grows, it is a good idea to begin giving out listings to some of the agents on your team as well. If you, the team leader, takes every single listing that comes your team’s way, then you are putting a cap on your business because you only have a limited amount of time and energy.
Recruiting agents who are looking to take on more listings is a great way to expand the ceiling of your business so that you can generate more leads, serve more clients, and expand your market share.
The listing agent is the person who represents the seller in a real estate transaction. They are responsible for marketing and selling the property, negotiating offers, and working with buyers’ agents to get the best deal for their clients. The listing agent should have excellent communication skills to procure exclusive listing agreements, be able to work well under pressure while selling a property and be knowledgeable about the local and macro real estate market.
The listing agent has two main duties; they must find clients interested in selling their home so they can lock up listing agreements for the team, and then list and market these properties so that they can sell fast and for the price that the agent and seller agreed upon. It’s important when searching for listing agents that they not only understand technology well (MLS and CRM systems), but also have a solid network of potential buyers and sellers.
8) Inside Sales Agents
An inside sales agent is the first point of contact for any incoming leads to the real estate team. They are responsible for answering incoming calls, emails and texts from potential clients so that they can book appointments with agents on the team to view properties or provide information about their services.
The inside sales agent should have excellent communication skills as well as a high level of professionalism since these first interactions will set the tone for how future conversations go between them and any prospective buyers or sellers. The ability to effectively communicate over the phone is critical if you want your leads to stay engaged until an appointment has been booked.
Inside sales agents should also be great at keeping up with follow-ups to leads and prospects who are not ready to buy or sell at the moment. An inside sales agent need to consistently follow up with prospects over the phone until they are ready to have a substantial conversation with a buyer’s or seller’s agent.
Inside sales agents also need to be organized and familiar with technology systems used by most real estate teams such as MLS listing databases or CRM software programs like Salesforce or KVCore. If possible, look for someone who is also a licensed real estate agent or have had experience as a cold caller.
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9) Real Estate Agent Recruiter
Lastly, as your real estate team begins to grow rapidly and you want to begin setting up for a future in your business where you as the team leader can be insignificant to your business so that you can step away and enjoy the life that you have built, you will want to consider hiring a real estate agent recruiter.
The real estate agent recruiter will be responsible for finding new agents to join your team. They are the ones that call other agents and ask them if they would like to work with a fast-growing, successful real estate business where they can make money while enjoying their lives more.
Recruiting is most often done over the phone but it could also take place at an event or convention attended by many licensed real estate professionals in your area. As you begin growing as a leader you should spend less time prospecting yourself so that you have more time to focus on things like strategy and vision, as well as taking time off to spend with your friends and family.
As far as recruiting goes, there is nothing worse than having subpar people working under you because it reflects poorly on you as the team leader. This is why it’s important to find a real estate recruiter that knows how to find top talent and bring them into your business.
Most of the time, your real estate recruiters will be agents who have been on your team for a long time and have shown success in their business. That is because successful agents on your team will naturally attract other agents to join your team since other agents want to work with and learn from them.
Real estate recruiters are also the hardest position to hire for two reasons.
1) There are very minimal industry standards in real estate when it comes to recruiting. Many teams and brokerages hire recruiters who have experience in the corporate world where they deal mostly with employees looking for salaried positions rather than independent business owners looking for opportunities to grow their own business and network.
2) Recruiters are the most costly position to fill since they fill a very specialized need for real estate teams.
That is why real estate team leaders and brokers should wait until their team business has matured and they have the systems and finances in place to hire a real estate recruiter. In most cases, the real estate team leader themselves should be the one recruiting agents to their team and should be developing their agent recruiting skillsets as their main focus.
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The Beauty of Real Estate Teams
Working with a team of professionals is an excellent way to ensure your real estate business has the resources it needs. These were just some tips on how you can build, or strengthen, your own team in order to increase efficiency and ultimately improve profitability by adding the right staff members and agents to your team. But that doesn’t mean that you have to fill each of these positions that we described here, the beauty of real estate agent teams is that you can structure them however you want! The important thing is that you are able to work with others who specialize in areas that you need support in.
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