In my neck of the woods, there are several real estate teams whose For Sale signs seem to be on every corner. Because lots of signs are an indicator of a successful business, agents are prompted to ask, “What’s this team thing all about?” “Is joining or creating a real estate team something I should do?”
Unfortunately, the answer is not as simple as a quick yes or no. There are several things to consider before making your single-agent operation into a full-fledged team.
Signs You Need to Grow Your Team this Season
Here are 6 cues that you may need to consider partnering up or growing your operation this season:
- You spend the entire day resolving problems on your current transactions.
- You lose valuable time doing paperwork.
- You are not conducting lead generation activities daily.
- Your regimented marketing plan has gone by the wayside.
- You are on the computer until the middle of the night catching up on activities and responding to emails.
- You have peaks and valleys in your sales volume and your income.
Is Your To-Do List Screaming for a Real Estate Team?
If any of those six cues apply to your current business, then it may be time to grow. But, are you ready to create a team?
Think about baseball and football teams. They have coaches, managers, practices, and lots of players—each individual has a different role. Additionally, teams have playbooks that note their processes and game plans. Are you ready to document your policies and procedures? Are you ready to dedicate a significant amount of time to making the playbook? Is this the direction that you would like to go?
Level Up Your Game
There are several ways to take your business up a notch and grow your team, and not all of them involve going from being a single agent to leader of a team.
Hire an assistant. If you spend the entire day on paperwork or putting out fires, then you may want to hire a licensed assistant. There are many new licensees that want to learn the business and there are many experienced agents who are ready to slow down or stay at the office all day. Consider hiring a licensed assistant to manage and respond to emails, input data into the MLS, assist with social media posts, order flyers and promotional materials, and generate the paperwork required for the real estate file.
Partner Up. Perhaps you are really great at face-to-face appointments and there is another agent at your office that is great on the phone. Join forces with an agent whose style and skill set complements your own.
Outsource administrative tasks. There are many time-consuming activities that take you away from what you like to do, and you can outsource those activities. You don’t have to use an in-house assistant. You could hire a virtual assistant, or multiple support people—each to work a separate aspect of your business. Consider a social media specialist to work on your online presence, a transaction coordinator to manage your paperwork, and a graphic designer to create your flyers and marketing materials.
The first indicator that you may need to partner up this season is you. If you are running around like crazy trying to be all things to all people, then it is time to take a look at your business and see where you could make a change. Do you need an assistant or partner? Are you ready to create a team?
It takes time to get from being a one-man band to the conductor of a large orchestra. Whatever growth model you choose, take it one step at a time.