TEAM SPOTLIGHT: To Team or Not to Team?

January 16, 2020

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.

Team Requirement No. 3: You’re Killing It on Your ‘Hours of Power’

Is your morning routine dialed in? Do you have a non-negotiable, systemized approach to profit seeking daily?
If you said yes, good on you.
If not, you might want to work on your disciplines a bit before you put yourself out there as a role model. If you’re not consistently sticking to a morning schedule and setting that example for others, it will be difficult for you to expect team members to perform with the necessary daily discipline to succeed.
Bottom Line: If you’re not doing it and they’re not doing it, you’re not going to profit as a team.

Team Requirement No. 4: You Have Current Buyer/Seller/Lead Follow-Up Systems in Place That Create Raving Fans and Ensure a High Level of Service

Are your systems in place to the point that you can say you’ve fully operationalized your business?
If not, it’s not a total deal-breaker, but know this… Developing them as you grow your team will steal precious time away from your more immediate dollar-productive work. Can you afford that?
Team Leaders in our Team+ coaching program are given a comprehensive manual for running their businesses that draws on the experiences of others in the program. We know getting up to speed and implementing tactics and strategies is much easier when you’re operating from a proven playbook rather than starting from scratch.

Team Requirement No. 5: You Have an Accountability Structure in Place That is Utilized Daily

As a team leader, you need a built-in system to hold you accountable to your morning schedule, the systems you have in place, and the others on your team.
This accountability structure begins with you and must extend to all who join your team.
This straddles the line of creating your company culture, which we’ll cover in a future edition of TEAM SPOTLIGHT!

This is the first in a recurring series of TEAM SPOTLIGHT blogs. We have additional ideas in mind, but also want your input. What “team” topics are you curious about? How can we help you grow your team successfully? Let us know in the comments below. We’ll be back next month!