Teams are the hottest topic in real estate today—and the most profitable opportunity this industry has seen in decades. If built right, a team can double your income and increase your free time to help you build a legacy business. If built wrong, a team can negatively impact your business. Check out these solutions to help you successfully create a blueprint for your very own dream team and avoid common team-building mistakes.
Inconsistent Lead Generation
As a team leader, you’re recruiting a team because you have a surplus of leads. You’ve built strong, long-lasting relationships with your clients, which means they trust you and refer you to family and friends. In an effective team, every member should be working off a system that allows for the same consistent, top-quality lead generation. If you want your hard-won reputation to stay intact and your clients to continue to be served at the highest levels, it’s vital that your agents consistently go above and beyond for every customer and provide the same gold-standard level of care and service that you do.
The Wrong Model
There’s no ‘one-size-fits-all’ for real estate and some teams fail because they just have the wrong model. If the team model isn’t collaborative, or agents aren’t happy, it’s not going to work, and it will be destined for failure. To build a successful team, you must make sure the model you choose is a perfect fit for you. Evaluate what works and what doesn’t work. Gather feedback. And, if need be, tweak whatever it is that’s simply not working.
The Wrong Fit
One of your top priorities as a team leader should be to recruit high-quality agents who will thrive together. Often when a team isn’t working, it’s not because you’re asking too much of your team members, it’s because you’ve simply recruited folks who are not a good fit. Recruiting the best of the best renews, replenishes and revives a team. To make sure your team succeeds, you must employ winners and then implement successful strategies to retain them so you can build a strong, dynamic culture.
If your back-office operations are chaotic, your business will suffer. To really succeed, you need to have the structures and processes in place to support your agents. One way to do this is to have your team use a reliable customer relationship management tool (CRM) that offers you transparency into each of their relationships, gives you one-touch pipeline reports and lets you assign leads and action steps on-the-go.
Untrained Team Members
Because team leaders wear so many different hats, they can get swept up in the day-to-day running of their business and neglect to train their agents. This is a deadly mistake! How a team is trained and operates determines its ultimate success. When training is part of your culture, your customers will know it, your agents will thrive on it and you’ll be able to recruit to it.
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