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Build a team fast, or risk being left behind. That is the best advice I can give to anyone in our industry.
There have been many lessons since the pandemic hit our shores, but none greater than the importance and power of building a team.
In among all the turbulence, all the “pivoting” in our industry, the stop-starts with snap lockdowns and our move towards “work from home” capabilities, the agents who have focused on building their teams have been the outright winners. They are the ones leading the field in every marketplace.
I want you to imagine this.
You and your family walk into a restaurant.
Normally, there is a hostess to greet and arrange seating for you. The waiter will provide you with menus and take your meal and drink order. You know that the back of house would be managed by the head chef and kitchen crew to prepare your evening meal. You would be right to assume, this scenario and business setup would be a minimum expectation.
Imagine now walking into another restaurant. You are greeted only by the owner and, thereafter, you realise that the owner is the only person working in the business. The owner, all by himself, is going to oversee (and deliver) your entire nights experience. Furthermore, you see a number of other families already seated in the restaurant. Now, how confident will you feel that the owner will be able to meet your expectations, let alone exceed them? The answer, of course, is highly unlikely.
The same applies in real estate. “Teams” are now the benchmark in our industry. It is rapidly becoming the consumer’s minimum expectation.
Today’s modern agent is made up of a lead agent, surrounded by a support team. That team may be their “immediate” team in the field or a combination of back-of-house administration and on-the-ground support.
They may be directly employed by them, or form part of their office or network’s support system. How they are engaged is not that important; what they do is.
What we are seeing the best do is building a team that’s composed of:
A support agent
Normally focusing on buyer work, the support agent is equally responsible for the in-the-field appointments, negotiations and prospecting.
Client experience facilitator
A key to high-performance teams is maintaining client services. It what’s separates the good from the great and is a fundamental point of difference. The client journey is documented and “high-touch” experiences introduced throughout the sales process.
Prospector
As the teams sales transactions increase, maintaining prospecting and database activities is difficult. This person’s role is ensuring minimum prospecting activities are maintained to ensure the future business pipeline is constantly replenished.
What we have found is that the optimum number in a team is four. If they are part of an office or network that provides the complete backend administration support, these teams can comfortably transact 100-plus sales per annum.
It also goes without saying, these teams promote themselves as a boutique real estate team. Often with unique branding, calls to action and a heavy focus on self-promotion. They understand sellers list with individuals, those individuals that will be standing at the end of the driveway to greet the buyers while their teams help support the process.
COVID has accelerated change and has increased client expectations. Solo performances are fast becoming a liability, and those that persist and continue to operate this way will be left behind.
Wishing you every success in your real estate career.
Manos Findikakis is CEO & co-founder of the Eview Group.
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