1. Are you managing people or are you managing a system that manages people?
The number one challenge real estate agents have is “time starvation” due to the simple fact they are trying to do everything vs. delegating non-revenue producing activities to someone else. Why systems? You are able to stop reacting and accomplish your specific objectives on a daily basis. You will be able to predict your results if your business is managed and measured consistently. Your capacity for growth will increase dramatically.
2. Do you have a job or are you running a business?
How much revenue are you producing on a consistent basis when you aren’t at work? This is the simple distinction between having a job and running a business. A business generates ongoing revenues regardless of whether you are there or not. With a job, you don’t show up, the revenues stop. Do you want to keep trading hours for dollars? “But my clients want to meet with and work with me”. That’s where you’re wrong. The consumer doesn’t hire you they hire the way you run your business. How are you currently running your real estate business?
3. How do you create your systems before assembling your team?
Take the time and write down every task and action that is required to run your business. Be very detailed in this step so that you don’t have questions come up after you have created your team. Now describe how each action step is to be completed, how it will be measured, and who is responsible.
4. Managing your team
This is where the real work takes place. You have been a successful salesperson for years so it should be real easy to assemble a group of people, tell them how “I do it”, they do it, and everyone’s happy, right? It doesn’t quite work that way. You must transition from salesperson to leader or manager. If you’re not a good manager you will experience high turnover which will decrease your production overnight. Here are some simple steps to follow: Have a business plan, be organized, inspire your team, and constantly be evaluating and measuring.
5. Basic activities for your real estate team
Let’s get specific with the general activities for your real estate team. Lead Generation, Qualifying, Sellers, Listing Coordination, Working with Buyers, Marketing and Advertising, Negotiating Contracts, Transaction Management, Managing your Website and Online Initiatives, Database Management, and Administrative Functions.
6. Positions required for your team
- Transaction Manager
- Listing Manager
- Administrative Assistant
- Buyer’s Agents
- Marketing, Advertising, and Web Manager