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Different Types of Real Estate Teams and How to Grow Them

Real Estate TEAMS

teamThere are all kinds of teams in real estate. I don’t have to go into what is a team so I will make it simple. Basically, a team is any two or more people working together with the same vision and goals to accomplish more than they can accomplish alone.

It doesn’t matter what kind of team you have the principals and dynamics for managing a team are the same. Teams come in all shapes and sizes.

The First Principal

The first question a REALTOR must ask is… “can I do it all?”

Most everyone starts off in real estate being a solo agent, you do everything from standing at the copy machine, taking photos, hammering signs in the ground, setting up the marketing, calling the leads, showing houses, attending inspections, doing CMA’s. We do this because we are just starting out and it is manageable with one or two clients.

There comes a time when you have many clients and you wake up and say, “No, I can’t do it all.” Time is money and in order to grow your business, and do the moneymaking activities you have to reach out and get help. (Or not have a life)

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When I first started in Real Estate, I drew a graph. It was a graph of where I was (all my roles) and where I knew I eventually wanted to be. In the beginning my name was in every circle.

At the top was CEO, with spokes coming down in three areas:

  1. Marketing
  2. Administrative
  3. Physical

Then after each major category I had more spokes with a job description of each. This is not hard it is just a clear way to organize what you do every day in categories with the job descriptions in each.

At the beginning your name will be in every circle and every job description.

CMAs

The Vision

A vision is not a goal; it is a dream of how you see your life. One of my favorite quotes in the Bible is “Without a vision, my people perish.”

Before you hire you need to ask yourself, “What is my vision?” If you are standing at a copy machine, instead of attending your children’s little league game, or spending time with your family it is time to add a mini-me.

Admit you can’t do it all and take your business to the next level without sacrificing a part of your life that is not work related. As a mother of 5 children, I knew I did not have those five children to not be a part of their lives and cheer them on in their accomplishments.

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Next Posts

The next few weeks I am going to attempt to write on a few things that I have learned over the last 15 years of growing a team. I added my first team member, an Assistant 17 months into my Real Estate career.

Some of the topics I am going to cover are: Who and When to Hire, Accountability, One Bad Apple, Retention or the Revolving Door, Team Commission Splits, A Good Team Member Pays for Itself, the DISC Tests, How to Fire, Dictator or Team Leader, and A Journey and not a Destination.

Written By

Written by Missy Caulk, Associate Broker at Keller Williams Ann Arbor. Missy is the author of Ann Arbor Real Estate Talk and Blog Ann Arbor, and is also the Director for the Ann Arbor Area Board of Realtors and Member of MLS and Grievance Committee's.

15 Comments

15 Comments

  1. Erion Shehaj

    March 1, 2010 at 8:59 pm

    Missy

    I am really looking forward to this series. The dynamics of running and growing a team are something I struggle with – so to have someone of your experience explain it absolutely rocks.

  2. Jonathan Benya

    March 2, 2010 at 1:49 pm

    Can’t wait to see more in the series!

  3. Andrea Ballesteros

    March 18, 2010 at 9:29 pm

    I am so excited to have found your blog. I am growing my team, expecting my first child and trying to envision how it is all going to work. Yikes…so exciting.

  4. Cathy M Kopicz

    July 11, 2010 at 9:42 pm

    I am trying to build a team. I just recently hired my third admin asst – after firing nimber 2 –
    It is very frustrating to find the right employees and buyer agents. In addition my company is not being as suppportive as I would liket hem to be –

    I am a top producer and work with foreclosures. I am looking foreard to your tips.

  5. Don Groff

    July 12, 2010 at 10:03 am

    Enjoyed this article Missy. Looking forward to the upcoming installments.

    Thanks for sharing.

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