Real estate teams are a powerful vehicle for growth and success, but they still remain heavily misunderstood and underutilized by agents who desperately need the structure and freedom they provide.
In order to build a team, it’s critical that we shift from thinking like an agent to thinking like a business owner. The best and highest use of our time as agents is becoming better salespeople, interacting with clients, setting the vision for the business and doing what no one else can do.
If we’re spending our time on tasks below our pay grade, we hold ourselves back from the things we need to be doing to be profitable.
Most real estate businesses fail to grow because agents are distracted by tasks that don’t move the business forward. Teams allow us to maximize ourselves in a way working on our own never will.
When do we know we’re ready to start a team? How do we make sure we’re building our businesses in the correct order? What makes good teams so valuable and attractive to agents?
In this episode, author, speaker, coach and real estate team dynamics expert, Pamela Ermen shares the framework for building a stable team and a powerful business.
Three Things You’ll Learn In This Episode
Who we need to hire first on our teams
People tend to gravitate to what they think they do well, but if it’s not the best and highest use of their time, the business won’t grow and they won’t free themselves to focus on what matters. Our first hire has to be where you are spending most of your time below your pay grade.
Evolution vs. revolution in real estate growth
Every time you go through an evolution in the growth of your team, it will cause a revolution. The status quo in the business will be challenged, and we’ll experience some growing pains with that. The problem is most team leaders confuse revolution with failure or problems. Revolution doesn’t create weaknesses. It exposes the places where our systems and leadership have to rise to meet the new level of growth.
How to hire for a purpose, not because of a pain point
Avoid hiring just to mitigate an immediate pain point. Hire with purpose in mind instead. Take a systematic and strategic approach to growth so you’re not hiring people with no long-term purpose in your business. Build the right systems first so that when you hire people, they are able to plug into something to free you, instead of becoming another ceiling in the business.