In a 2016 survey, Real Trends reported there were between 35,000 and 50,000 real estate teams in the U.S., twenty-six percent of which were formed in 2015. The report also stated “teams in real estate create the opportunity to deliver information, guidance and customer service to clients without having to be a superhero individual sales associate who works 75-plus hours each week.”
It’s time to embrace the notion that building elite teams within your brokerage can yield much success! According to this same report, “thirty percent of brokerages had teams that produced over 45 percent of their company’s total sales volume in 2015.” The report goes on to suggest that by “guiding the leadership and structure of a team, brokerages regain some balance in the team/broker/owner relationship.”
Supporting teams within your brokerage can be challenging; it will take time, resources, dedication and sometimes tough decision-making. Here are 3 action-oriented tips to assist your teams on their path:
1. Focus on Lead Generation and Management
Lead generation, nurturing and conversion play a major role in real estate success. Although your agents are busy, dedicating time to maintaining a healthy pipeline is extremely important in order to see growth within the business. In a world where technology and mobility are ingrained in nearly every facet of life, your company should capitalize on the tools available to simplify your lead management practices.
2. Create a Welcoming Culture
In their Global Human Capital Trends 2016 Report, Deloitte found that 82 percent of survey respondents believe that “culture is a potential competitive advantage.” It was also stated that “as operations become more distributed and move to a structure of ‘networks of teams,’ culture serves to bind people together and helps people communicate and collaborate. When managed well, culture can drive execution and ensure business consistency around the world.” Entrepreneur.com recently highlighted several ways company culture actually leads to success:
- Keeps the mission at heart
- Attracts new talent
- Retains employees
- Encourages passion
- Differentiates brand identity
3. Implement Systems that Enable Scalable and Profitable Growth
As a team garners momentum, it’s imperative to have defined operations, business processes and technology in place to support growth. Manual practices become hard to control and streamline with growth and leave room for inevitable mistakes. A technologically-advanced system allows you to develop processes that are repeatable and best of all, secure.
Implementing these three tips will require daily focus from team leaders to activate the talent within the group. It will also require consistent support from the brokerage, by providing resources and the tools necessary to maintain compliance.