The real estate market is always changing and there is one trend that continues to be getting stronger every year. As you already know the power of a real estate team can always outperform an individual just by sheer numbers. Here’s your all in one guide to teams in real estate. Let’s begin by looking at the different team models in real estate first. Teams are an amazing way to leverage time and resources. In my nearly 24 years of experience and coaching super star agents like you, I’ve noticed there are four different types of teams in real estate.
1. The Accidental Team - The accidental team isn’t really a team in the traditional sense… This is just a group of people in the same office that all do the same thing and started selling together. Think of this as more like a bunch of sales people without anyone to run the operational side of the business. They do this for comradery, accountability and maybe even sharing in costs and work load with one another.
2. The Real Estate Family Team - You’ve probably seen a family team and they are very popular. Although everyone is related, roles aren’t clearly defined across as to who is doing what… Also, family teams usually have to put the business on hold when they all go on vacation. Not an easy task to work with your spouse, in law, parent or relative in the real estate world especially when things get crazy and the pressure and stress is rising.
3. The Guru and The Minion Team - I’m sure you’ve met the “guru” agent leading the team of minions. The guru agent is great at what they do, but they are huge control freaks! Have a fairly large ego and opinion of themselves. These are the types of teams where burn out is common and people are always coming and going. The guru can be tough to work with and they are usually the kind of person that doesn’t play well with others.
4. The Business Builder Team - There are some super star agents out there who know their stuff and hire a team to help support them in the other areas of their business. They realize with a team they can grow the potential of the business exponentially. Leverage, systems, processes and multi-talented team members equal mega success. This is because the business builder knows the team is the vehicle to maximize everyone’s strengths to even better serve the customer and take the business to the next level.
So Why a team? You can build something repeatable, scalable and something tangible business you can sell! Whether you are looking to start your team with just an assistant or take on five or six people to build your team, you need to remember one thing… Have you ever seen one of those Russian nesting dolls? It is a big doll that splits in half and there is another doll inside that is a little bit smaller.
This keeps going several more times with the dolls getting smaller in size. I bring this doll up because this is what most people think hiring a team is… The ego and desire to feel important causes many agents to hire someone smaller than them. If you want to achieve massive success in your business you’ve got to add super stars to your team who are committed to doing big things. This means not hiring based on ego, but instead finding the people who think and perform big and are dedicated to growing the business.
I believe you have to take risks and building a team is taking a risk. Starting a team begins with hiring that executive assistant so click here to download your free e-book on hiring a real estate assistant, take the risk and start your team.
Strength and courage,
Wade
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