A life of a real estate agent is a tough one. There’s so many papers to fill up, too many clients to please, and so much property listings to look on. Busy schedules are a good thing to have, but if not prioritized properly, you may lose some important clients.
Dear agent, you don’t have to do it alone. If your clients are increasing then it’s probably for the better if you build your own team. Creating a team of specialists will not only take some load off from your back – it also increases the quality of service that you are giving to your dear clients.
Furthermore, having a real estate team increases productivity. A team can finish projects faster. More work done means there’s more room for more clients.
But what does it take to build a powerhouse real estate team? Where will you start and how can you be sure that you’re hiring good people. Unfortunately, building a team doesn’t stop when you open a Linkedin account for headhunting. Here’s the rundown what you need to remember when planning on building an effective real estate team.
1. Think about the budget
How will you know that you’re ready to have a team? As soon as you can afford it. Before telling the world that you’re looking for people to fill up an office space, check your bank account first. Does your current money have the power to have people under its payroll? Can you afford office supplies that your team will need? Assess on how many people your budget can have on board and how future clients can help you increase your budget.
2. Who should you hire?
Now that you have the budget, it’s time to figure out which positions you need to fill up:
- Admin/assistant: The first person that you have to hire is an assistant. A resourceful assistant can help you with tasks like scheduling, setting up a meeting, or tracking finances. Your assistant can have a minor knowledge on real estate – as long as he or she is organized, hardworking, and flexible with tasks, then hire them.
- Buyer specialist: For those who don’t know, a buyer specialist is someone who will mediate between the buyer and the seller. With a buyer specialist, you no longer have to go on ground and handle multiple clients. The buyer specialist that you hire should be a professional expert in the world of real estate and has a wide experience in this area.
- Listing coordinator: A listing coordinator is someone who prospects new listings. He or she is the one who will convert and track inbound listing leads to new appointments. When it comes to leads, the listing specialist will be your go-to guy.
- Accounting manager: Another vital part of a real estate team is an accounting manager. He or she will be handling your team’s compensation. All the financial part of the job will go to the accounting manager so make sure that the person you hire has a degree in accounting or financing. Being systematic and organized is a plus too.
- Runner: A runner is the one who send mails/messages to important people, post flyers about your team or listed properties, and assist people in the team. It can be anyone, from a college student looking for a part-time job or someone from your building. As long as he or she is willing to learn and completes task then he or she will do.
3. How will you hire?
Thanks to the internet, hiring people has never been easier. Create accounts on job hunting sites like Jobstreet, Kalibr, and Indeed.com. If you think you have poor judgment skills, hire a part-time hiring specialist.
Do not forget to ask for resumes in each applicants. Check their background and experiences. Spare time from your busy schedule to interview and get to know them better.
4. Create an organizational chart
An organizational chart can help you find out the system on how your team is going to coordinate. Where should this person go when this situation happens? How can we easily communicate? Mapping out creates a system that people on team will really appreciate.
5. Set job descriptions
It’s also important to list down things that you want to see in each member of the team. Set expectations and make sure that the person that you hire for the position knows it and can effectively get it done.
6. Set goals
Set short and long term goals for your team. This can help the team get motivated and truly know what the team wants to achieve.
7. Hone leadership skills
Your team are not the only one who need to step up – you too. Read books about managing people. Attend leadership trainings. Remember that you are the captain of the ship and this ship will sail if you have no idea on how to properly run it.
There you go. Start building your new team and begin your world domination. We wish you good luck on this next step in your career.
