Episode 179: The Pros & Cons of Building a Team
In Episode 179, Matt is back, and he and Jan O’Brien discuss the pros and cons of building a team. From getting your house in order to your exit strategy. You need to begin with the end in mind. Let's jump in...
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PROS
REVENUE
- Increase income and overall profitability
- Ability to scale lead generation
- Convert more buyer leads into closed transactions
- Support and leverage team members SOI/ farm/specialty
TIME
- Ability to delegate tasks and specialize
- Free up your time to focus on your strengths
- More work-life balance
BRAND
- Higher rankings and market share
- Enhance your professional credibility
- Specialization and niche markets
- Cover more geographical area
- Exposure and reach of your brand
EXIT STRATEGY
- Expansion of satellite offices in other markets
- Go from Rainmaker to CEO of your team/brand
- Build a more valuable asset and eventual exit strategy
CONS
Frustrations if you build a team before you are ready
- Agents want leadership and a mentor/coach
- Structure and accountability
- Your systems and brand to leverage
- Are you a Manager? Trainer? Mentor/Coach? Do you enjoy this - helping others achieve their goals?
- Training time
- People drama
- Turnover
- Finding the right fit
Are You Ready for a Team?
Is your own house in order?
This means that at a minimum:
- You have your core real estate systems in place
- Listings/Sellers
- Sales/Buyers
- SOI/Database
- Lead Gen & Marketing
- Your brand & value proposition is clear
- For clients & for agents (Think WIIFM: What’s In It For Me?)
- The structure and organization of your desired team is clear
- You have adequate financial resources to pay for employee(s) or to purchase or upgrade software, hardware, or equipment if needed
Run it like a Business
Are you running a real estate business, or is IT running you?
Running it like a business means you have made that mindset and operational shift to working and thinking like a small business owner. It means you have effective and efficient business and real estate systems in place to support your company.
Not sure if Team Building is for you? Or, maybe you already started a team and are looking for some expert guidance? Discover the fundamentals and more with these 12 power tips on how to build a profitable and successful real estate team.
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Introducing...
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Real Estate Sales Builder contains 12 training modules designed for both new and newer agents as well as any agent who wants to master the core fundamentals of a successful real estate business. The primary goal of this program is to show you how to consistently build your pipeline to generate more buyer and seller transactions to reach your individual business and career goals.
- Welcome & Course Overview
- Module 1: The Fundamentals of Real Estate & Your Business Plan
- Module 2: Build Your Database & Get Referrals
- Module 3: Effective Open Houses
- Module 4: Working with Buyers
- Module 5: Personality & Communication Styles
- Module 6: Working with Sellers
- Module 7: Listing Presentation & Marketing
- Module 8: Farming Strategies
- Module 9: Social Media & Online Presence
- Module 10: Online Lead Generation & Conversion
- Module 11: Niche Marketing, BDA & Getting Client Reviews
- Module 12: Business & Financial Fundamentals
Real Estate Sales Builder has over 119 videos and nearly 100 downloads to help you build that strong foundation step by step!
