There's no fail-proof recipe to create a top real estate team. Growing your team and improving its performance takes hard work and the right people. But there are some common elements top real estate teams have in common.
Top real estate teams that are growing and making a profit aren't operating in an unorganized fashion or haphazardly completing tasks as they come up — they have proven systems in place, enabling them to grow and scale as they see fit.
Whether they're training and onboarding new agents, tracking expenses, generating and converting leads, or working on any other day-to-day operations, they're following a step-by-step process that ensures no detail is overlooked.
Even when it comes to their technology, they have systems in place. It's important to note that a tool is not a system. Tools are just additional expenses if they're not set up properly and integrated into a team's systems.
For example, a real estate CRM can help track lead generation, but if there's no follow-up system in place, that tool isn't working toimprove your team's performance.
A top team will have a system set up for when a lead enters their CRM. Regardless of which agent it's routed to, there will be steps guiding them to ensure optimal speed to lead.
Those systems will account for potential obstacles too, so if a potential problem comes up, the agent will be ready to handle it. For example, if they get a lead with no phone number attached they might have an automated email campaign ready to go.
When working as a solo agent, you have to compete with every other agent in your market for leads. The same isn't true for agents working on real estate teams.
Team leads are providing more than enough leads to go around, so team members don't need to compete with each other for business. When one agent makes a sale, the whole team wins because some of that sale goes back into the team's systems, tools, technology, and lead generation efforts.
Instead of fighting for leads, the challenge teams face is conversions. How do they maintain speed to lead when they have more agents than they can follow up on?
To improve conversions, top teams collaborate with each other. When one agent finds a technique that works really well for them, they'll share it. If someone finds a great listing but doesn't have a buyer for it, they'll pass it along to another team member who does.
Team members don't have to try and hide trade secrets from each other. Instead, they can collaborate together to increase their conversions and increase their team's ROI.
Powerful technology can streamline a team's systems and improve collaboration and performance. Having a tool likea real estate CRMthat can track lead generation and follow-up in one place, while also providing reporting and analytics, helps team members and team leads alike.
Team members have a central place to work from and team leads have increased visibility into what's working and what isn't.
The insights provided by technology can help team members improve their outreach. For example, if a team's CRM can record calls, then team members can learn from actual sales calls instead of just role-playing to improve their calling techniques. Teams can play back recordings to critique calls that didn't go well and learn from scripts that did.