Tips to Take Your Real Estate Team to Next Level

A growing number of agents are forming real estate teams to secure more deals, share resources, and potentially earn more commission. Successful teams engage in frequent communications with upper management. For instance, sales and metrics meetings should be conducted as four smaller weekly meetings, during which wins should be recognized to raise morale. Companies should also offer both new and experienced agents valuable coaching on lead generation, conversion strategies, setting listing appointments, and closing larger deals. As teams become more skilled, these efforts will help the business’ bottom line and long-term growth. When hiring, companies need to present their business plan, goals, and vision during the interview and set these expectations during the onboarding process to ensure everyone is on the same page. This means outlining the resources available to the team and providing insights on how to support each other with each deal. Then, reiterate these expectations in your 1-on-1 meetings to establish accountability. Management should also present the company’s goals and values in a way that will encourage confidence and motivate people to join. Unfortunately, not everyone will be suitable for the team. If would-be members fail to align on business values and goals, these individuals should be let go. However, the process should not lead to any ill-feeling because professional interactions could occur in the future. Finally, leaders need to develop a comprehensive compensation and incentive plan to keep agents motivated. Source: RISMedia (09/12/22)