Tips For Growing Your Star Real Estate Team
Getting your team right is hard, even getting a team at all can be hard. But making it into your star real estate team should not be. Let's go over some tips.
Growing a real estate team that can dominate is not an easy task. It is also not impossible. You have to keep a few things in mind like communication, leadership, and culture among others. No matter what stage of team building you are at whether that is finding your first team member or working with a mass of agents in a brokerage. These tips can be beneficial to you. If you feel like you’re making great strides forward but taking just as many back and stagnating, hopefully, these tips and using NuOp can get you out of that slump!
The first thing to talk about is leadership. There are so many ways people lead their team and this point alone encompasses so many other ways to grow. If you are a good leader you can grow your team fast or manage them so well you will hardly need to put your hands into the mud. If you are a good leader your subordinates and other team members will feel empowered to also lead. Now, there are so many different arguments on what makes a good leader. Personally the leadership taught by Jocko Willink and Leif Babin is what I like to think of good leaders. Both are ex Navy SEALs task unit and platoon commanders and run Echelon Front a business leadership consulting company.
A leader should not micromanage so much where they can’t step back and take a look at the bigger picture. That leader will not be able to lead to the best of their ability, their vision will be narrowed to the people they are micromanaging. That leader fails his team and the mission.
A leader should empower his teammates to lead. Its not a ego measuring competition. Its about succeeding. Someone could bring up something you do not know. Allow them to make adjustments to the operation plans. Making it a ego game means you lose and once again fail your team.
A leader should take ownership everything they do. Someone fails to close a deal? Take ownership of that. Do not blame it solely on the agent, why did they fail to close the deal? How can you do better to make sure that member is brought up to speed on how to be more successful in the future?
I can go on and on about this forever, but this is all broken down and talked about in two amazing books by Jocko and Leif: Extreme Ownership and The Dichotomy Of Leadership. All of these lessons can apply to real estate and normal life. Not just the military or other extreme environments.
2. Communicate With Your Real Estate Team
You want to make sure the goals are clearly defined and understood. Goals and mission objectives should not be so complicated that people are lost in the details. It should be simple enough for everyone to know what they are doing. As the team leader its your job to set up these goals, but not getting sucked to deep into the details and end up micromanaging like talked about above. Give the basic overview and allow the team to add in. Then once your goals and mission is stated allow your team to execute it. If you are at the stage where you have a large real estate team or brokerage do you really need to be there for it? Most of the time no. You should not be walking every step of the way if you are doing it correctly, you should be able to trust your team to get it done. If they come back saying they failed to close a deal then step in and readjust and realign. Make sure its going smoothly then back away again.
NuOp and Communication
Good news, NuOp can help with communication and more importantly, lead distribution. When you have a small team, just you and say Jim who is your best friend and fellow agent. Lead distribution is easy, you give it to Jim. But what happens when you start to add one, two, ten, or fifteen agents on top of Jim? Things can get a little messy. How do you give out those leads among that many people? How do you decide who gets what? That’s where NuOp comes in.
If you know the exact person you want to send a lead to, for example Jim again. The lead you just got is for someone looking to sell say a commercial building, a shop. Jim has great experience in this and a track record of closing similar deals on buildings like this. This is called a direct referral and you can send it directly to Jim.
Now maybe you get another lead that is regarding a residential property. Also lets assume you know a lot of people in your team that can handle such a lead. So you pick the top five among them and select a first come first serve referral. Then the first person out of those five who claim the referral will get it. You do not have to spend time emailing or calling and so on. Its added flexibility. Know someone who is the perfect fit, or know a few but want to give them all a shot to grab it?
Lastly, you have a lead that is general. Everyone in your team or the outside world of Members on NuOp can handle it with ease. You have no one specific in mind so you make it a open referral and anyone can grab it.
All of these methods are made to ease the process of distributing leads between people. Which can really be a hassle in larger teams and could cause issues. Maybe someone is getting more then another person? First come first serve relinquishes this issue, giving multiple people fit for that referral a chance to get it. At that point it comes down to who is more eager to grab it. Using direct you do not have to swim through a ocean of possibilities if you have the right person in mind. And if you just want the lead to be closed, you can give anyone a change with a open referral.
No more worrying about how to give leads out. Now you can just do it with NuOp.
3. Culture Is Important
A good workplace culture breeds better moods and better teams. You want to set the standard for a good culture. Places that are so strict that you can’t joke or converse turn into a silent nightmare. Whereas a place where you can do whatever however causes slacking. Another hard thing to balance but if you get it right, you got everyone on board and a very productive team.
4. Have Good Support
A star real estate team can spend more time doing what they are good at when they have amazing backend support. If you are just starting out this could be just you or some software to help with daily tasks. NuOp can help by being the support you need. As mentioned above, cutting down on distribution is exactly what you need for your team to be a star real estate team.
5. Explain The Why
This is more so when you have a large team, but if your still small you may not have to worry about the why so much. Though sometimes when your team is so large not everyone on the front line will know why. And this is important.
Again, NuOp can be the right tool you need to keep your team and agents informed. Alongside being a great tool to make lead distribution a trivial task. NuOp can keep you in touch with your agents using chat features. This way everyone can stay on the same page and communicate easily.
With all of this in mind, you should be in a better position to make or keep growing your star real estate team. Though keep in mind while this is a short and to-the-point list there are many other things to have in your mind as you lead a team. The books mentioned at the start of this blog are great places to start if you want to be a great leader. Also using NuOp you will be able to best support your team or yourself.
If you like this blog make sure to check out the growing catalog of other posts here.