The most valuable thing in your team is not how much leads are generated or how much money is earned in deals. It's you.
Welcome to Part 2 in our blog series about how you can build a kick-ass real estate team.
In our previous article we explored the concept of (1) building relationships over money with our agents and (2) utilizing your partners, associating your name and brand with the top real estate agents
Let's talk about "agent mentoring", in particular, real estate agents who are new to the business and are looking to partner up with someone (such as yourself) for the purpose of learning, forming new client relationships, etc.
With you being the best asset, you would want to equip yourself with a sound judgment and a invest a lot of time to get to know the newer agents in your office, offer to train them, and then help each of them and the and your business grow.
Sales is not always just about chasing after a client and closing a deal.
It's a solid fact that employee retention is the most profitable strategy for growth in a business. Always get feedback from your newer agents to see how you are doing.
At this point, we would actually want to see what is beneficial to you that is beneficial to your team; and what is really beneficial to your team that is really beneficial to you and to your clients.
This leads us to the next tip in building a kick-ass real estate team:
Utilizing your mentored agents.
Brining on newer agents to your team while mentoring allows you to cover much more ground while using very little monetary resources.
Work out co-listing deals with smaller deals.
There's nothing wrong with allowing newer agents to co-list with you on smaller deals.
Sharing your commission with another agent is never ideal - however this eventually works out in your favor, since it will increase your amount of closings; thus increasing your sales numbers for the year.
Having larger sales numbers increases your chance of going after larger (higher priced) listings...which should be your ultimate goal.
Take every opportunity. No matter how big or how small. Allow your team to leverage their coverage to increase your footprint in your area and beyond.
Have them work your warm leads for smaller deals.
Warm leads are the people you already established a good relationship with. You can have those "connections" distributed to your mentored agents and let them do the work.
This technique actually works great cause you are maximizing the output with lesser effort with the advantage of you getting them under your supervision.
Let your "connections" know that the agent contacting them is on your team and ultimately everything is under your control.
Place these mentored agents in your open houses.
Most agents who sit your open houses will require the following stipulation: "any buyer that walks in, that would be the mentored agent's client exclusively."
This is a great trade-off, since the newer agents will be building their client base while you can free up your time to go after larger listings.
Keep your agents fueled, happy and very motivated.
Finding that one super motivated, door-knocking, aggressive younger agent in your area is like finding gold.
Your goal is to always keep them engaged, educated and happy. They, in turn will be working harder for you.
I'm not saying that they will stick around forever as a member of your team, but treating them well will come back to you many times over in this business.
Your mentored agents become a valuable asset to push your business farther, much faster.
As a mentor, it gives you the advantage of having control with everything under your desired output with lesser effort. It's like flying your own kite with your own style.
You're on your way to becoming the best mentor for a kick-ass real estate team but there's one more installation in our blog series so I'll see you tomorrow for Part 3!
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