Top Tips For Building A Real Estate Team in 2014

We are seeing the future of our industry evolve and the concept of real estate teams has been trending strongly once again in the past decade.

The early concept of a real estate team was having an assistant but most top producers had no idea what their assistant’s role was, tasks were or how to
really leverage an assistant with their business.

The whole idea behind a real estate team and the team members is to provide value to you the leader, the public and to the team themselves.

How many of us wish we had systems and people in place to allow more quality time, more personal time and more profitable time in our real estate business?

Here are some top tips to help you on your way with a real estate team and to a better life and more organized and profitable business.

First Real Estate Team Hire : Administrator or Assistant

Once you feel the majority of your time is spent on “non-selling” activities and the load is getting too heavy to carry on your own, your first hire should be an administrator or assistant.

Most agents spend less than 25% of their time on “selling” activities.

This team member will free up your time to be in front of buyers and sellers and not being bogged down with the paperwork, flyers and so many other activities.

If you don’t want the commitment and responsibility of the In-house or full time assistant, why not try MyOutDesk.com for an assistant who can handle craigslist postings, flyers and many other tasks.

The key is to know what and how to delegate this team member and keep you in front of the people.

Here is a list of Activities for this position to help you get started -

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• Filing (colors, storage, labeling)
• Calls (greetings, messages, paging)
• Emails (enquiries, follow up)
• Contracts –(copies, delivery, filing, preparation)
• Agent mobile files (create, update bi weekly)
• Sphere (Monthly newsletter)
• Tel 20 (Just Listed, Just Sold, Realtor Flyers)
• Advertising
• Feature sheets
• Property boards
• Kiosk
• Signage
• Photos
• Locbox
• Showings
• Feedback
• Website
• Internet tools
• Personal Notes and Accounting

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• Showing appointments
• Listing Files
• Strata Documents
• Title Searches
• Sales Files
• Prospect Files
• CMA
• Lawyers
• Commission Checks
• Conveyance
• Escrow
• Sales Record Sheet
• After Sale Service
• 1 wk. 1 Day 1 Month
• Client gifts
• Keys
• Subject Removals
• Contract preparation
• Pre listPkg.
• Pre buy pkg.

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Second Real Estate Team Hire: Buyer Specialist

N.A.R. reports that in a normal market the average home buyer requires about 32 hours of time invested with them to earn the same fee as a seller that only requires about 8 hours.

The buyer agent is where you refer and give the onslaught of buyer leads. For every 30 leads per month you receive, you can afford a buyer specialist.

A buyer specialist typically manages 2 to 4 transactions a month for your team. They strictly show property and convert buyer inquiries.

Once the buyer contract is accepted then they hand the transaction over to the assistant and continue working with their other buyers.

Third Real Estate Team Hire: Listing Specialist

Once you have enough buyer specialists for your lead generation and you begin to get too busy going on listing presentations, the next step is to hire a listing specialist who typically can handle a high volume of transactions and listing inventory.

An ideal compensation for this position is offering them a base salary plus a bonus for each transaction paid.

They will manage all the files from the generation of the listing lead through the time an offer is written.

Activities would include Correspondence, Pre List Packages, CMA’s, Follow up, Ads and Flyers and tasks between listing the property until sales agreement.

Last Real Estate Team Hire: Your Succession Plan

This hire is your replacement or successor to your business so you can really enjoy life.

If something "happens" to you and you don’t get paid...  you have a “job”.

If you make money whether you are working or not you have a “business”.

This is the real reason for building a team. Just imagine working on your business and not working in your business.

Leading different team members and providing them all a greater opportunity in real estate just doesn’t get old, especially when it allows you to enjoy the lifestyle of your choice.

Alternate Real Estate Team Hires:

Escrow Coordinator – This team member takes the sales file from the listing or buyer specialists at the time the offer is made. They handle the inspections, monies, disclosures, due diligence, title etc. They are responsible for everything through closing or close of escrow.

Field Coordinator – This team member reports to the listing and escrow (or sales) specialists. They handle signage, locbox, flyers, documents, pre list and pre buyer packages.

Prospecting Agent – The person in this position is responsible for prospecting daily to find new listing leads by working... For Sale By Owners, Expired, Door to Door, Face To Face or on the phone voice to voice. Their whole role is to get the appointment for the listing specialist.

Your ability to set up systems, develop a solid structure and select your proper team members will ultimately determine the success of your team.

Statistics show that 95% of success is determined by the initial selection of the team members. Take the time to build your systems. Take the time to implement the right structure for your team but most important is to get the selection of your team members right the first time.

I trust this information will help those looking to start building their real estate team or those wanting to increase the effectiveness of their existing team.

Strength and Courage

Wade

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