Building a real estate dream team can help you solidify your career in the industry. Some brokers and agents enjoy individual effort while others gravitate towards cooperative work.
If you have been in the industry for some years now and you want to take the profession to the next step, assembling a team can help you out. Read on for some invaluable insights on running a successful real estate team.
Must-Have Components before Growing Your Team
A Strong Pipeline Of Leads
Lead generation is essential in running any business. Most agents won’t join your team and accept small commissions if they generate leads themselves. If you have been nurturing and growing your relationships in the industry for years, you won’t have trouble generating leads.
Some of your leads will come from referrals from lenders, insurance companies, or even other agents. Social media is also a great place to find leads. Join real estate pages on Facebook, Instagram, or LinkedIn. Stay active on your social media accounts so that potential clients can easily reach you. A website full of helpful content will help boost visibility on Google.
Most people start looking for houses online. Your website should be among those that pop up when they search online for an agent. Customer relationship management and ads will bring leads as well. Your team will quickly come together when you have enough lead generation techniques.
Great support staff
You need to adapt quickly to new trends in the real estate industry. Your support staff will help you do that. They also ensure every member of the team is delivering their best. Your staff should include the following.
Don’t expect your rainmakers to be admin whizzes. That’s why you must get someone who will oversee the day-to-day operations at your establishment. They help agents perform efficiently by coordinating with property managers and ensuring every property they show lives up to the expectations.
Most real estate team leaders start a team without an admin despite the mountains of advice against most real estate team leaders. Managing such a team without help will be nearly impossible, and it can slow down progress.
If you find someone with real estate experience, you will be lucky; they will hit the ground running. Corresponding with customers and agents requires great communication skills.
A transaction coordinator will coordinate with all parties involved in a pending real estate transaction. They oversee every aspect of the transaction until the deal is closed. They organize disclosures, agreements, and pre-listing materials.
Keeping the process streamlined and organized will make it easy for everyone, including the buyers and sellers. The coordinator can help in the negotiations as well. They are usually present during the open house.
The coordinator also contacts the seller and gives them regular updates on how the sale is progressing.
Business Development/ Marketing Manager
A marketing manager builds awareness through traditional and online advertising. They come up with marketing campaigns and ensure they are successful. Building a brand makes you an authority in the industry and attracts clients.
They also market new listings so that more people are aware of what your agents are doing in the field. The person in charge of marketing will also be responsible for the website. They look at the tracking analysis, complaints and reviews online and also help your website’s SEO ranking. Marketing accommodates a lot of things; you must find a well-rounded individual to occupy the position.
Inside Sales Agent
A sales agent’s only job is to convert all the leads into appointments. They will help you cultivate potential new clients for your real state team. When you are generating many leads, you need someone to get them to make appointments and schedule consultations.
Keeping potential leads waiting for a long time will make you lose prospects. Inside sales agent takes a big responsibility from your hands. They send emails, SMS, and even make calls.
One inside sales agent is enough to oversee your real estate business for a start. But as you grow, you may need to add one more to keep up with the leads and new clients.
Strong Team Culture
There are so many challenges that come from blending individual personalities and talents. It’s easy for your agents to see each other as rivals, creating some hostility. But you need company teamwork to navigate the real estate industry.
You need different ways of making your team collaborate and work for the common good of the company. Define the company’s mission and core values first because they are vital for the team culture. Great workplace culture includes leaders, engaged workers, and reduced interpersonal conflicts.
You can explore how your competitors are doing and borrow some helpful tips. As the team culture evolves, you will make necessary adjustments. Your enthusiasm has a great impact on developing employee collaboration.
Keep your expectations clear and boost the tea morale every chance you get. Establishing your office culture will take a while, especially when all the agents are still new to each other. But when you figure out the dynamics, everything else will work perfectly.
Fun Client Events
Client events are fun ways of connecting with customers on a personal level. You can also build brand recognition and network with other real estate entrepreneurs. You can foster your connections and give your clients a chance to be part of what you are building.
A successful event needs plenty of planning, but it will all be worth it in the end. You should never lose your returning clients. You have to keep them engaged at all times so that they are not tempted to look for another company to work with.
These events are also a chance for your agents to interact with potential clients and learn from one another. You will kill so many birds with one stone if you can organize fun client events from time to time.
Starting a real estate team is not the easiest thing, but it will be one of the best decisions for your career. However, before you start, ensure you have all these components figured out. Your team should find you ready to go. Ensure you have enough work volume to justify having a team. That means you need plenty of potential leads.