We can all agree that having a good real estate team is necessary to scale your business rapidly. But how can we actually do that?
Here are some pointers that will surely help you build your own kick-ass team.
1. Scale business with relationships, not money.
When you're scaling your business early on, you want to kind of negotiate services for commission not salary.
Salary is always constant, and commission is sporadic. So there's a huge disadvantage to starting with salaried employees who always need to be paid, regardless of their performance.
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There's nothing wrong with delegating a little more responsibilities (than usual) with agents who work for commission only. They will be able to handle your showings, inspections, open houses, etc. while you continue to spend your time growing your business and building new client relationships.
2. Utilize the team of another top producing real estate agent.
When you are rapidly building your real estate team and taking on bigger listings, you will most likely co-list the larger listings with another luxury real estate agent who has better connections, a larger client base, better brand name, etc.
Although you might think it sucks to have to always split your commission, you need to realize that there are other ways to make this worth your time (and money).
Most every top-producing agent has a team which you can utilize for your own benefits.
Take the time to really get to know their team. Learn what each team member skillset is and what they are good at. You want to have a daily talk with them, exchange your thoughts with them.
Sometimes, the luxury agent doesn't even know their own team strengths and weaknesses. They might have the right people on the wrong positions. For example, they might have an employee who is really good at technology taking phone calls or dealing with people all day - while in reality they would be better in a technology role.
So offering your suggestions on how to better increase their team's strengths and weaknesses will allow you to build trust with the luxury agent and they will associate you with making their business more effient, which will hopefully solidify your partnership deeper with the luxury agent.
What is the point of this?
The point is you are associating your name and brand with top-producing agents. You want to make your name synonymous with these high producers. This is worth literally tens of thousands of dollars in brand advertising.
Keep growing. Keep pushing and I will see you tomorrow for Part 2 in this series! :)
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