Editor’s note: Today we launch the inaugural edition of TEAM SPOTLIGHT, a recurring blog focusing on team building in today’s increasingly team-oriented real estate industry. And we’ve got the perfect person to bring you this knowledge. Debbie Holloway spearheads our Team+ coaching program, which consists of 100+ team leaders responsible for more than $5 billion in worldwide real estate sales annually. Her insights on growing your team, operating your team and maximizing return from your team are sure to help you take your business to the next level, whether you’re currently a solo agent or team lead of a Rockstar team! -Tom

By Debbie Holloway, Head of Team+ Coaching
 
We’ve seen tremendous growth of real estate teams over the past five years.
Why? It’s only natural…
With increased demands on an agent’s time to handle everything to create a great buying and selling experience for their clients…
On TOP of managing their marketing…
Shooting more videos…
Working leads, and so much more…
…Oftentimes the go-to solution is to start building a team to lessen that burden.
But the real important question is this:
Is building a team the right option for you?
Keep reading to discover 5 requirements I believe every agent should have before taking that monumental step into team building!
 

Team Requirement No. 1: You’re on Target or Ahead of Your Production Goal

Bringing additional team members aboard is not only a big responsibility… It’s taking on a serious expense.
If your income cannot support additional team members, you’re only setting yourself up for failure.
Get your own house in order and then consider taking that next step.
 

Team Requirement No. 2: You Have At Least 5 Successful Pillars of Lead Generation

You’re tracking and measuring all your results, right? (If not, you’re not quite ready for a team, but that’s not the point I’m making here.)
When you look at your various lead sources, are you producing multiple sales on a monthly basis from AT LEAST five different pillars?
The key here is to ensure your business is diversified sufficiently to support additional sales agents on your team.
If only one or two lead sources are really converting, chances are you cannot yet sustain the expense of building a team.

Tom Ferry - Success Summit 2022