How to Build an Awesome Real Estate Team in New York
When it comes to building a successful team, the goal is to explore as many options as possible. Building a team in real estate can be a daunting task, but it doesn't have to be! As long as you take the time to learn about the different types of teams out there and how to build them, you'll have a much easier time finding success.
This article discusses different ways to build an awesome team in real estate.
1. Must-Have Components Before Growing Your Team
An awesome team in real estate comprises a strong pipeline of leads, agents, and clients. Before you start growing your team, you'll have to ensure that you have a highly productive lead generation program. This essentially means that your marketing efforts are working to generate leads significantly.
You'll need to begin with a few essential components to doing this. Agents are likely to reject smaller commissions to pair hands with a team if they have to generate their leads to show their value. It will also work to your advantage to have certain tools before growing your team.
These tools may include supervision, community building, and partnership programs. There are many ways to generate leads. For example, you can use Google/Facebook Ads, and other online marketing efforts, as well as traditional marketing techniques such as flyers and signs (you could even go for digital signage and display this in your window) to get the message out.
To generate leads for your agents, you'll need to be doing things like hosting open houses and holding events that host meetings with agents. Another way is the application of CRM (Customer Relationship Management) software. This software is useful for managing your client base, contacts, and leads.
When you take the time to research the type of team you want to create, it will be a lot easier for you to achieve success.
2. Great support staff.
As a top producing agent, you'll need to ensure that your team has strong administrative support. Your administrative staff also referred to as support staff, is one of the most critical elements in any real estate office. They include:
Admin
A real estate admin is mandated to oversee the daily operations of real estate offices. The function of a real estate admin in a team is to make sure that the office is running smoothly and organize the administrative tasks.
They are tasked with taking care of clerical duties such as working on invoices, processing payments, and administering office expenses. You may also opt to hire a real estate virtual assistant as they are more cost-effective and can function the same as an in-house admin assistant.
Transaction Coordinator
A transaction coordinator is required to take on the responsibility of arranging and conducting closing sessions. This person is also tasked with taking care of administrative duties such as processing paperwork, running conference calls, and coordinating upcoming closings.
Business Development/Marketing Manager
A business development manager is responsible for the strategic partnership programs. This person is tasked with recruiting agents and assisting in developing their business. They are also tasked with business development and marketing.
Marketing managers ensure that the office makes money by performing tasks such as Postalytics direct mail, online advertising, email campaigns, and telemarketing.
Inside Sales Agent
A real estate isa is someone who is going to go out in the field, find the prospects, and bring them into your office. The inside sales agent comes into play when you are looking at generating leads. In a real estate team, an inside sales agent will work as the talent scout, so to speak.
3. Showing Assistant
A showing assistant is an individual who plans and schedules the showings. Most real estate offices in common use a single showing assistant to manage all of the showings and sales.
This person will handle all the paperwork, set the appointments, manage appointments and collect the information that management needs to decide on hiring a particular agent. In a real estate team, showing assistance also creates a level of trust.
When you have an agent showing for them, they don't feel like an underling but rather a colleague.
4. Negotiators/Agents
When you are trying to build a team and generate leads, it will be essential for you to look at the negotiation side of things. Selling real estate can be tough because no two deals are alike, and each has different stipulations attached to the contract.
To handle the negotiating side of things, you'll need a team of skilled negotiators. Your agents get the job done effectively and ensure that your clients are happy and satisfied with the deal.
5. Strong team culture
Great team culture can be the key to success for a real estate team. Strong team culture is based on respect and transparency. When individuals feel that they can trust their peers, they will be more likely to send them referrals. Strong team culture is based on training, communication, and respect.
You are going to have to maintain a good camaraderie within your team. If you cannot have this type of good relationship, you'll need to keep the right people around.
6. Fun client events
It is important to have fun client events for everyone involved. This will give the agents in your team an opportunity to get to know each other better. It gives the agents an opportunity to network, and it allows the clients of these agents to feel relaxed and comfortable with them when they're looking at properties.
When you have a good time out with your clients, they're also having a good time. It would be best if you considered throwing a backyard BBQ or organizing a golf tournament for fun client events.
This will give the agents in your team a chance to bond with the clients, and they'll be more likely to recommend them when they're looking for a new agent.
Summary
It can be difficult to get the right team, and building a team to handle all the tasks involved in being a top producing agent can be time-consuming. It is important that you take the time to research your real estate needs.
You will most likely find that you have a need for more than one person or that your needs will be changing over time. Even if you do have one person, it is important that they know what they're doing and are well versed in how real estate works.
If they don't, the team will not be able to function at the level it needs to be. When you're trying to build your real estate team, you need to remember that it's all about results.
This means that management must consider what their goals are for their team and make sure that their needs are being met. If a team isn't working together, it's not going to achieve the results that they want or need.
