To succeed in the real estate business, you need a team of high-performing individuals. You're required to hire sales managers, administrative assistants, internal sales agents, and listing personnel capable of taking the business to another level.

Additionally, you need to have the characteristics of a good team leader to direct your team and keep them motivated. Above all, you also need a showing assistant responsible for showcasing your homes to your clients. If you're looking forward to building a high-performing real estate team, here are some helpful tips:

 

Begin With Yourself

A solid and high-performing real estate team requires a strong and capable leader. Therefore, you'll have to ask yourself some questions to figure out if you're ready to lead your team towards success.

Among the questions you need to answer is whether you have the volume that requires a team. Building a team should be out of the question if you're handling less than 40 transactions in a year. Generally, an individual agent can handle up to 60 transactions for the whole year. So, if your volume is above 60, hiring a team is essential.

Furthermore, you should also be capable of leading. You must inspire and motivate your team while guiding them in the right direction. While leadership traits can be acquired over time, they should be inherent. So, before deciding to build a team, figure out whether you can lead one.

 

Set Goals And Figure Out How Many Members You Require

The next step in building a high-performing real estate team is setting goals. Figure out how many transactions you need the team to close each year and how much they need to generate. After figuring this out, you'll know how many members you need in your team to hit your target.

As a team leader, your primary role is to be the chief lead generator. Therefore, you're responsible for deciding how many leads you require and how many members will handle them.

 

Decide What Systems To Form

A real estate team has various duties. They bring in the leads and follow them up. They are also required to keep finances and inventory in check. Additionally, your team will be responsible for marketing, advertising, and taking care of every detail that has got to do with actual sales, such as property showings and contracts.

Setting up these systems requires good organization and the right software tools. Plus, your agents should also be trained in using these software tools. According to experts, you should integrate the following systems into your team for a well-organized operation:

• Business plans and goals
• Creation and maintenance of your brand's vision and identity
• Marketing and advertising
• Database and referrals
• Listing inventory, transaction management, and buyer escrow
• Lead generations and follow up
• Profitability and financial forecast

 

 

Hire

After figuring out how many team members you require, the next step is hiring. It's essential to understand that building a high-performing real estate team doesn't only revolve around who you're hiring but also around the position they'll occupy. When hiring team members, consider following this order of prioritization:

Administrative Assistants: Most team leaders hire buying agents first since they're at the core of their business. However, it's bound to fall apart without the administration to run your team. To avoid this, ensure you hire administrative assistants first. These individuals will help you with paperwork and other office duties as you focus on other essential things.

Buyer Agents: The buyer agents are next. They'll ensure no leads fall out of the crack and are responsible for follow-ups and database maintenance. Ensure the buyer agent you hire can handle at least four transactions per month.

Inside Sales Agent: An inside sales agent is responsible for lead follow-up and lead generation. They may need to conduct cold calling or make extra sales efforts to bring in new leads and connect with them.

Listing Agent: After hitting the targeted number of listings you can handle, it's time to hire a listing agent. They'll help sellers price, stage, and market their property to ensure it looks good to a prospective buyer.

 

Understand Your Team

As a team leader, you need to familiarize yourself with your team. Ensure you understand their strengths and weaknesses. This will help you know what to expect from them and how to help each team member maximize their potential. Also, you should figure out your strengths and weaknesses too. This way, you can designate responsibilities you're not good at to a suitable team member to perform better as a team.

 

Conclusion

Building a high-performing real estate team is a process. You should start by being well-equipped to lead your team in the right direction. Above all, you need to stay motivated not to stray away from your objectives. Next, you should hire the most reliable and hardworking applicant to join your team. In addition, you should ensure that your team's perspectives are aligned with your visions and goals for the company. Fortunately, the tips mentioned above will be helpful as you set out to build a high-performing real estate team.