How and When to Build a Next Level® Real Estate Team
Wondering when and how to start building a solid Real Estate Team? We’ve put together some answers for you.
If you have reached the point where you have more to-do’s than time in the day and more clients than you can handle, it may be time to start building your own real estate team filled with smart, talented, and excited agents.
Related Reading: How to Build a World Class Real Estate Team in 8 Steps
From Newbie to Reality TV Star: How Do They Do It?
Recently, one of our Power Agents® was telling me how she was watching Million Dollar Listing New York with real estate agent Ryan Serhant. Viewing this show prompted her to ask, “How does a person go from a regular newbie real estate agent to building a huge team and getting a TV show?” She wondered, “Was it good looks? Charisma? Surrounding yourself with successful people?”
She was building her team and trying to find ways to help them get business and help each team member step up their game and reach their Next Level®. How could she motivate them? How could they take advantage of social media to boost their presence? Would they ever achieve something as big as having Big-Name production companies following them around to document their day-to-day activities because of their success? How do they even begin trying to move towards the illustrious ranks of the High-Profile Agent?
Neither Ryan Serhant nor any other top agent has done it totally on their own. They got where they are because they knew how to build a rock star team, and we’re here to help you discover how to do that.
The Secret to Top Agent Success and Why New Agents Struggle to Compete
One of our Power Agents® has been in real estate for seven years. In the first three years, she built a six-figure business and experienced incredible growth!
Here’s the hard truth: monetarily speaking, you cannot imitate someone doing millions of dollars of business when you aren’t even breaking six figures.
Top producers in real estate aren’t calling FSBOs or Expireds anymore. They aren’t spending their days prospecting or knocking on doors because they have grown their business to a point where most of their clients come from referrals.
For real estate agents and teams who want to move to their next level, you cannot continue to do what you have been doing; you need to start doing other things to get to higher levels of success.
Related Reading: 4 Reasons You’re Losing Real Estate Referral Business
Creating Accountability and Company Culture for your Real Estate Team
You have a team of smart and talented individuals, so how do you step up the game for everyone? First, you need to create accountability and establish a solid company culture. You can accomplish this with regular weekly meetings. Perhaps, first thing Monday morning to set the tone for the week as we do before our Mindset Monday coaching calls. This is where we decide what we will accomplish each week, what we will focus on, and what’s most important.
These meetings aren’t just about the To-Do list and building company culture. Some brokers have their team meetings every Wednesday to watch our weekly webinar, then discuss the webinars (or even the coaching calls, if your team is part of the Power Program®) afterward by asking, “what did we take away from that training?” or “what things from that webinar can we implement in our team this week?” Accountability becomes a natural part of these meetings as well.
Related Reading: How To Run a Real Estate POWER Accountability Group
Your Job as a Real Estate Team Leader
You can help, push, inspire, and guide to the best of your ability, but the one thing that is of the utmost importance for a team leader is to ask your individual team members the following question:
What are you committed to happening in your life?
What do they want their life to look like? Maybe they want to be debt-free or own a vacation property. Perhaps they want to be able to spend time with their families or get another college degree. Once you know what they truly want, you can help them design their career and life with that in mind.
Once you know what they are committed to having their life look like, you can ask more specific questions:
What do you need to produce in real estate in order to accomplish that?
You need to get specific and look honestly at the money to do this.
What do they need to do to help make that a reality?
Do they need to prospect more? Spend more time and effort building their brand? Create a better referral system? What real-life tasks do they need to do to get them to their next level? Break it down into specifics!
Back in the ancient times of 1981, a man named George T. Doran came up with an acronym to describe how to create goals that would give you the highest chance of success in reaching them.
S – Specific
M – Measurable
A – Attainable
R – Realistic
T – Time-bound
Since the development of this incredible acronym that has helped even the worst goal-setters to succeed, researchers and experts have added to it, making it SMARTER (See what they did there?)
E – Evaluative/Ethical
R – Rewarding
Madhuleena Roy Chowdhury, the author of the article linked below, said: “Studies have shown that when we train our mind to think about what we want in life and work towards reaching it, the brain automatically rewires itself to acquire the ideal self-image and makes it an essential part of our identity. If we achieve the goal, we achieve fulfillment, and if we don’t, our brain keeps nudging us until we achieve it.”
By sitting down and asking those three questions, we can help solidify the commitments of our teammates in their minds and give them the means to be held accountable. By identifying these goals in a specific manner and attaching measurable and time-bound ways to attain them, their chances of success grow exponentially because it isn’t some nebulous idea; it’s a specific plan of action.
Related Reading: Positive Psychology – The Science and Psychology of Goal Setting
Bringing the Real Estate Team Leadership Motivation to the Table
Motivation doesn’t have to be difficult; it is sometimes just a matter of making things real and offering a different perspective (which is why metaphors and analogies are so effective). When they promise to prospect Monday, Tuesday, and Wednesday, what they are REALLY promising has nothing to do with real estate at all. They are promising to put their kids through college. They are promising to get out of debt. They are promising to build their future. Your job, as their leader, is to hold them to THAT promise — the promise to their commitment.
You can be assertive and say, “I’m not saying you must call FSBOs or you have to door knock. You told me that you’re committed to getting out of debt and you’re committed to spending time with your family. You told me that those are the things that are important to you, so if that is what you are really committed to, then you need to get out on the playing field and live from that place of commitment and not from the excuses to why you can’t do it. That doesn’t serve you or your commitments.”
Calling All Real Estate Agents!
Are you ready to start taking things to the Next Level®? We have the tips, tricks, and tools you need to find success…at any age!
POWER AGENTS®, you can check out the Farming, Self-Promotion, and Mailings tab in the Classroom for Brand-Building tools and ideas. Don’t forget to catch up on training with our Webinars-On-Demand feature! Whether you need inspiration, motivation, or content, we have it!
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