Transitioning from a sole operator to a fully fledged real estate team is a huge milestone to cross. So, when you do make the leap, make sure that you do so successfully.
Your key objective should be to bring together people with complementary personalities and skill sets. It’s not about finding people exactly like you, it’s about finding the right mix of skills, knowledge and experience.
With your dream team in place, your agency can go from strength to strength. Employ the wrong people however and you could be faced with more challenges than working alone.
Here are your main considerations;
Define your real estate business
Being able to clearly articulate your vision and future direction will help you present your real estate business correctly to the those you wish to attract.
Before you advertise for staff, you must define your business model. Are you growing your team to include more sales staff to gain bigger market share or are you looking for additional support staff to enhance customer service?
Your brand values are also important. Whether you operate as a high-performing and highly driven business or a more flexible and work-life balanced one, it’s essential to be clear on this fact from the start.
Building a real estate team successfully depends on several factors and key skills.
Identify your ideal team roles
Before you decide who to hire, determine the role you wish to play within your real estate agency. Are you happy to remain as an active selling agent? Or do you wish to remove your sales responsibilities altogether and work on the business rather than in it?
When creating job descriptions, consider working with an external HR provider to fill in the gaps in your knowledge of recruitment. These professionals can help you write job descriptions and ads to attract the best candidates and show you how to establish fair salaries and remuneration packages.
Hire staff selectively
The people you hire must be right for both your business and fit well with the clients you serve.
Top recruiters recommend taking into account attitude as much as aptitude. While there are many skills that can be taught, things like creative thinking and a can-do attitude often cannot.
Another factor to consider is diversity within your team. Employees across a range of genders, cultural backgrounds and life experience will be able to relate to a wider network of clients. They can also bring a unique perspective to problem solving.
Personality types should also come into play as you build your real estate dream team. For example, you don’t want to hire a Sales Associate who is a visionary, big picture person if this is how you tend to operate yourself. You’d be better off hiring a solutions-focused, detail oriented offsider who can stay on top of the finer points, and focus on buyers while you attend to vendors.
There is only so much room within a real estate agency for large egos. Ideally, your agency will include a mix of measured thinkers, innovative minds and researcher/technicians. Try to avoid employing people with personalities that might clash.
DISC personality profiling is one way to establish Dominance, Influence, Steadiness, and Conscientiousness across your new team. Understanding your own DISC profile and those of existing team members can help improve communication too.
Be a good employer
A dream real estate team needs a dream leader. As the person in charge, you set the tone for attitude, work-ethic and customer service, so be sure to lead by example.
Here are some more tips for being a good boss and protecting your business:
- Implement strong practices, procedures and policies to make it easy for your team to do their jobs.
- Offer training and team building days as a way to strengthen your team’s morale and capabilities. There are a range of excellent real estate courses and soft-skills courses to help your crew learn how to achieve more at work.
- Carefully consider remuneration packages as these may need to be worked out on an individual basis. Recruiting a known performer and paying them extra might be worth your while to improve your customer-base and brand recognition.
- Create clear and specific contracts with the help of a lawyer, with non-compete exit clauses included.
Avoid these common mistakes
One thing to remember when recruiting is not to ‘chase unicorns’. The perfect candidate may be out there but they will likely come with a hefty price tag. Work out what your deal breakers are and what you’re willing to compromise on.
Approach working with family and friends with caution. While many successful real estate agencies are run by husband and wife or even parent/child teams, this can be a recipe for disaster. No matter who you are working with, create professional contracts and make agreements about responsibilities, finances and exit clauses.
No matter how much you love your job, do you really want to be doing the exact same role forever? Build your dream team, so that you can get your real estate business to a point where it can run without you or be valuable enough to sell.
About Paul Davies
As founder and CEO of the fastest growing real estate network across Australasia, I offer real estate professionals an opportunity to reap the financial rewards of going it alone with the security and clout of an established brand. Talk to me and my team about your options.
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