Real estate is a much different world than it was ten years ago. New challenges, regulations, and a competitive marketplace have caused real estate agents to need more support than ever. A great real estate team will be an effective voice for your company in this tough climate. Great teams are hard to find, but this piece will cover five traits of a successful real estate team.
Strong Leadership
Leadership is not just about being the boss. It is about getting people to work together as a unit to build a successful business. Great leaders can relate to their agents’ daily struggles, which means empathizing with your situation and offering training, development, and growth opportunities for agents.
Great leaders listen to their team, encouraging them to find success through innovative ideas, not just one-way thinking. Great leadership is important because it makes up the body of one’s team. When a leader is strong, the rest of the team tends to follow, becoming strong.
A great leader will step in and take the reins when the time is right, but they are not afraid to let their agents be independent. If the leader is a dictator, employees are upset with their leadership style, which can create a hostile work environment. The best leadership teams include leaders who share the vision and respect each other enough to work together through disagreement on any given issue.
Great Recruiting
Recruiting real estate agents is important because it determines the level of success a company will have. Recruiting the right talent helps generate new sales, establish listings and obtain new buyers.
Great recruiting means uncovering talent that will add to the existing team while maintaining the company’s goals and vision. It also means finding agents who fit in with the existing team.
A great real estate team comprises the following members:Â
Transaction Coordinator
A transaction coordinator (TC) is a vital part of the team. They coordinate the different parts of the real estate transaction, like inspectors, appraisers, and agents. The TC will often have a network of contacts they can use when needed.
Inside Sales Agent (ISA)
An ISA sells real estate to buyers, managing the sale process. The ISA completely understands the business and handles everything needed to sell a house, such as advertising, showings, and negotiations.
The sales agent is responsible for marketing the house, coordinating showings, and fielding questions from potential buyers. The ISA may also handle the negotiation of the sale price and terms.
Admin Assistant
For the office and the agents, the admin assistant handles administrative tasks. They manage customer service issues like scheduling, customer follow-up, and taking communication from clients. The admin assistant also has to manage and maintain company records such as client files, data collection, and storage of all aspects of the operation.
Buyer’s Agents
Selling homes to customers is the responsibility of the buyer’s agents, who collaborate with the ISA to market the property. They are in charge of collecting information from the client about their needs and organizing a list of houses that meet those requirements. Buyer’s agents also help coordinate showings for clients with multiple buyers and provide information on home values in various areas.
Showing Assistant
Coordination of showings and informational delivery to prospective buyers are tasks of the showing assistant. They ensure that the house is ready for a showing and are responsible for making arrangements with the buyer’s agent for showings and client meetings. They also schedule appointments, administer the listing agreement, and handle possible issues during a showing.
Lead Generation Systems
Lead generation systems are one of the most important characteristics of a great team. These systems help to attract new buyers and agents to the company by giving them a reason to contact the company. The team will also use a lead generation system to get new agents in the door.
In order to collect phone numbers, emails, and even radio or television advertisements, the team may use a variety of lead generation systems, such as online lead management systems.
By using these systems, the real estate team will be able to keep more leads for their own business and allow them to grow. Leads are important because they allow the company to generate a continuous stream of new business. Without leads, a company may grow quickly, but without new contact information, the growth will soon end.
Amazing Real Estate Team Environment
Great teams tend to be fun and often rely on team bonding to encourage success. The following are a few ideas for developing a team environment:
Supportive Environment – set up a comfortable office area with the latest technology. Make sure the office has amenities such as vending machines, coffee stations, and internet access. Some agents might need extra space to accommodate their clients; this is where you can help by providing board rooms or conference rooms for your agents to use.
Education and Training – develop a relationship with industry leaders or business schools so that you can provide training sessions for your agents through workshops and conferences. This is a great way to motivate your agents and promote teamwork and collaboration. Education and training also provide a way to maintain and expand your knowledge of the real estate industry.
Team Building Events – team building activities are a great way to get the entire team involved in one another’s lives. Schedule a day for an activity, like hiking, water aerobics, or bowling at the local bowling alley. Encourage competition among your agents by playing trivia or sports games. The winning team will be rewarded with vouchers or other goodies.
Strong Branding/Marketing
Branding and marketing are important aspects of running a successful real estate company. Great branding means creating a message or image that buyers and sellers identify with your company and want to work with you.
Great marketing involves using different tactics, including websites and email blasts, to expand your marketing reach without spending an outrageous amount of money. When marketing, you will want to keep your messaging consistent so that it is clear what you are trying to accomplish.
Marketing is an aspect of real estate that many companies overlook, especially newer startups. A good marketing plan involves lots of research and testing. This process involves learning the demographics of potential buyers by researching the population and their buying habits.
Then, use the demographic data to develop a list of target buyers or potential customers. To market effectively, you will have to get creative. One way is by going on social media sites like Facebook and Twitter and introducing the company you represent there. Another is creating a newsletter for current buyers and sellers that can be sent out via email.
Summary
The best real estate agents have a lot of skills and experience that can help them succeed. These include the ability to draw attention to their services through effective marketing, knowledge of their area’s real estate market, and negotiation skills.
A great real estate team will have various skills but also work together to achieve success by having skills in areas their competitors do not. It is important to choose agents that have a variety of experiences, and that come from different educational and cultural backgrounds.
Finally, a strong brand message or image is valuable because it helps buyers connect with the real estate team’s goals, values, and overall image.
