“One is the loneliest number you’ll ever do.” This opening lyric to the ‘60s pop rock song “One,” written by Harry Nilsson and recorded by Three Dog Night, applies to real estate team dynamics in so many ways.
A 2022 study done for Workman Success Systems by CGK* revealed that 85% of agents believe that being on a team keeps them motivated to improve sales.*
Seventy-six percent of agents stated that being on a team earned them greater income. A solo agent can only do so much, whereas a team can offer multiple services.
If you want to work with a team or are looking to expand, here are a few tips for building a more profitable business:
- Hire the right team members using a full onboarding protocol. Platforms like WizeHire offer coaches to review and prioritize the top picks. Polling your top MVPs and researching local agent production is also a great place to start.
- Use reports like DISC/Motivators assessments to identify the behavioral style of candidates. All behavioral styles have their strengths, but it’s important to place them in the right position. These reports also give team leaders insight on how to better communicate with and motivate team members by understanding their goals, talents and motivators.
- Schedule one-on-one sessions with agents to help stay on target. Often, agents get caught up in reaction mode working with clients and neglect monitoring their progress. Work with each team member to develop their own strategic plan within their short- and long-term business plans to better monitor, measure and modify their outcomes.
- Newer agents need continued training to advance their skill set. Require mandatory attendance at huddles, meetings and tactical training (learning). Role-play calls, team-prospecting activities and active participation in client appreciation events will support these newbies with initiatives to build their own sphere of influence and leverage those relationships to the team.
- Have a plan to continue supporting team-member relationships after they have joined the team. Schedule annual retreats and goal reviews, and create individual vision boards to monitor annual goal achievements.
Here’s a fun example of nurturing: One successful team leader surprised each team member and staff with a gas gift card to help them offset the rising price of fuel.
Being part of a community larger than “one” is how teams outperform a one-stop shop.
*CGK Report 2022
For a full team report, visit www.WorkmanSuccess.com/.
Contact Terri Murphy through www.TerriMurphy.com/ or email Terri@TerriMurphy.com