Episode 296: SNEAK PEEK of Real Estate Team Builder ~ The Four Archetypes and How They Fit

In this episode of our podcast, we're diving deep into a crucial lesson from Module 1, Lesson 3 of our Real Estate Team Builder course, focusing on "The Four Archetypes and How They Fit" within the real estate industry.

We've posed a thought-provoking question to countless brokers and agents: If you hire 10 people for your company, how many will truly make it in the real estate business? The answer, surprisingly, is never more than two.

This revelation leads us to explore the "FIT, not FIX" concept, challenging the common belief among many managers and trainers that they can "fix" people to fit the mold of success in real estate.

Understanding that success in real estate is not just about having the best tools, training, and support, but also about the inherent traits and characteristics of the individuals, we delve into why so many agents fail within their first two years. We discuss the importance of self-confidence, personality traits, behaviors, and success characteristics, alongside the necessity for ongoing education and training.

By examining the three major types of individuals in the real estate team-building model - The Entrepreneur (Team Leader), The Manager (Team/Office Manager), and The Individual Contributor (Admins/Team Associates) - we aim to shed light on the path to success in this competitive industry.

Join us as we uncover the secrets to building a successful real estate team and the critical role of identifying and nurturing the right archetypes within your team.

We are often asked what the images in our course represent. Alignment is a key ingredient in success, and there are many ways to achieve it. At WBNL Coaching, we believe that one of the best ways to clear your head, focus, and realign is to get up and get out.  

In Real Estate Team Builder, we present the Bridge Series as your inspiration for wandering, from Acadia National Park in Maine to the Golden Gate National Recreation Area in California. We chose bridges because they represent a span from one point to another—a path that wouldn't be possible, at least not as easily, without the structure. We also relate much of our RETB course to building a strong foundation, which is critical to the success of your real estate career—oh, and bridges!

Enjoy the lesson, the images, and the journey, and be forever wandering but not lost.

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The Four Archetypes and How They Fit

We have asked this question thousands of times to brokers and agents… 

If you hire 10 people for your company, how many will make it in the real estate business?

The answer is NEVER more than 2!

FIT, not FIX Concept

Many managers and trainers believe they can "fix" people. They are confident that because their company has the best tools, training, and support, and they care and are great managers, they can get most of these new agents to be successful in the business. Here's the reality—you can't fix people. They are who they are! Each person has a degree of self-confidence, personality traits, behaviors, and success characteristics.

Now, they all have the dream and wish to be successful in the real estate business. Success for many first-year real estate agents typically comes in the form of earning $100,000. It is possible to earn this in the first year if the agent is ready, willing, and able to get out of their comfort zone and get in front of enough people who need their service – to buy or sell real estate. It also requires excellent sales skills, inventory (market) knowledge, and technical expertise. This business requires constant, ongoing education and training. And, as always, the experience is the best teacher.

So, why do so many fail in this business? Why are approximately 75% of agents out of the business within the first two years of being licensed?

Our collective experience and observations suggest the following:

• Approximately 10-15% of the active agent population enjoys great success and are the highest income earners – the"Top Producer"
• This top group exhibits common characteristics that lead to this ultimate business success
• Most licensees have an employee mindset and never make the shift to entrepreneur and small business owner
• Most licensees are unwilling to do what it takes to make it in a commission-sales-based industry.

There are three major types of individuals who, once identified, fit into a real estate team-building model. To better understand the three types, let's take a look at the following factors for each group: 

Risk vs. Security

• Specific behaviors and characteristics
• Desired role and responsibilities

The Entrepreneur (Team Leader)

• The calculated risk-taker
• They are not afraid to work alone
• Natural salesman enjoys the art of the deal (the rainmakers)
• They are driven, success-oriented, persistent
• Type-A personality, the controllers/drivers with a solid work ethic
• FIT: The Top Producers…Team Leader or Individual Lead Agent (approximately 5-10% of the population)

The Manager (Team/Office Manager)

• This is the person who prefers to manage, supervise, and coach others
• Their motivation is to give back, to inspire, to build confidence in others
• They are comfortable being "second in command"
• They generally have management/supervisory experience before real estate
• They are more detail-oriented and good administrators and systemizers.
• The risk factor is moderate to low.
• FIT:  Team Manager/Office Manager (approximately 20% of the population) 

The Individual Contributor (Admins/Team Associates)

• Represents the largest portion of the population
• They prefer to work in a group environment
• Security influences this person – not significant risk-takers
• Prefer to be a contributing member of a team
• Typically, this person needs and desires support systems, direction, mentoring, and leadership to thrive and succeed
• They generally come from an employee background and are used to and want structure and accountability
• They are the belongers
• FIT:  Team Associate, Buyers Agent, Licensed Admin Assistant, Hourly/Salaried Employee (approximately 30-40% of the population)

The Hobbyist / Part-Timer

An estimated 40% of licensees are in this group. Many will ultimately exit the real estate industry because they do not fit or will maintain a license as a "hobbyist" or part-timer. If their commitment and priorities have changed, you may find suitable administrative assistants and occasionally a solid team associate from this group.

Real Estate Team Builder