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September 2016

Real Estate Team Building Tip #5: Three Phases of Hiring and Retaining Talent

 

The WBNL Coaching Real Estate Agent Team Building tips series continues with Tip #5: Three Phases to Hiring & Retaining Talent.  In this coaching tip, we cover steps and strategies that are included in the WBNL Hiring & Onboarding System which is available as part of the Real Estate Team Builder program.  We are also releasing this system as a separate program in the coming weeks on WBNLBusinessBuilder.com.

 

Phase 1 – Attract/Hire

  • Career Landing Page  (See: TheBrodkinTrainingMethod.com for an example)
  • Create Job Description
  • Write an Ad & Post It
  • Candidate Screening Process
  • Conduct Interviews
  • Select & Hire 

Phase 2 – Onboard/Training

  • Team Operations & Procedures Manual
  • Utilize an Onboarding & Training Checklist

Phase 3 – 90 Day Review/Manage/Retain

  • Establish Performance Goals & Objectives
  • Conduct 90-Day Review
  • Set Quarterly/Annual Goals (Business/Personal Development)
  • Communication, Coaching & Feedback

 


Our turnkey, complete team building system includes all of the materials, supporting documents, checklists and manuals along with the step-by-step implementation training delivered via our on-demand video coaching platform. Visit www.RealEstateTeamBuilder.com to learn more about our “Team Building in a Box” system to build your profitable real estate team. Here is what you’ll receive:

  • Online, On- Demand Real Estate Team Builder Training  
  • Lifetime Access to the Recorded Videos and Documents 
  • Complete Package of Documents, Admin Forms
  • Real Estate Team Builder Procedures Manual 
  • 90 Day Onboarding & Agent Training Manual
  • Team Project management, accountability, communication system

We also provide a wide selection of other real estate and business coaching programs that are designed with the agent in mind to help you build a successful career with real life instruction on how to implement and execute. You can learn about the other products and services provided by WBNL Coaching below:

We recommend Top Producer Success Suite to “Run Your Business Like a Business.”  Contact our partner at Top Producer to learn more: Colin Burton | Partner Channel Manager Direct:  888-547-5331 Mobile:  778-960-5331 


Real Estate Team Building Tip #4: Your Operations Manual is the Cornerstone of Your Foundation

Takeaways, Key Points and Action Items from this Episode:

Whether you are building an agent real estate team or not, a standard operating procedures and tasks manual for each of the major areas of your business is the cornerstone of your foundation. The benefits of having a written procedures manual include:

  • Delegation and clarity on who is responsible for specific tasks and systems
  • Allows you to create checklists for your systems and processes
  • Becomes the core Training Document for new hires
  • Allows your Team Associates to easily plugin to your existing systems
  • Serves as a core document for your eventual exit strategy

Create written procedures for each major area of your business.

  • Listings (Sellers)
  • Sales (Buyers)
  • Lead Gen – Database
  • Lead Gen – Farms
  • Lead Gen – Social Media, Internet
  • Lead Gen – Networking
  • Hiring & Onboarding
  • Team Admin

  Subscribe to Our Mailing List HERE to access these bonus downloads:

  • Real Estate Business System Assessment
  • Team Tasks & Procedures Guide (excel doc)
  • 10 Best Practices for a Productive Real Estate Team

 


Our turnkey, complete team building system includes all of the materials, supporting documents, checklists and manuals along with the step-by-step implementation training delivered via our on-demand video coaching platform. Visit www.RealEstateTeamBuilder.com to learn more about our “Team Building in a Box” system to build your profitable real estate team. Here is what you’ll receive:

  • Online, On- Demand Real Estate Team Builder Training  
  • Lifetime Access to the Recorded Videos and Documents 
  • Complete Package of Documents, Admin Forms
  • Real Estate Team Builder Procedures Manual 
  • 90 Day Onboarding & Agent Training Manual
  • Team Project management, accountability, communication system

We also provide a wide selection of other real estate and business coaching programs that are designed with the agent in mind to help you build a successful career with real life instruction on how to implement and execute. You can learn about the other products and services provided by WBNL Coaching below:

We recommend Top Producer Success Suite to “Run Your Business Like a Business.”  

Contact our partner at Top Producer to learn more: Colin Burton | Partner Channel Manager
Direct:  888-547-5331 Mobile:  778-960-5331
Book a call with Colin


Real Estate Team Building Tip #3: Agent Team Models - Which One Is Right For You?

 

There are several model variations for real estate agent teams.  In this real estate team building tip, we discuss the differences, pros and cons for the primary models we have identified at WBNL Coaching and Real Estate Team Builder:

  • Partnership
  • Informal Team
  • Rainmaker Team
  • Traditional Broker-Style Team
  • Expansion Team

Partnerships

  • Two or more team leaders form a partnership
    • Spouses, family, related in some way
    • Individual agents join forces to build a team
  • Identify strengths and weaknesses – partnerships can balance
  • Leverage time and resources
  • Brings credibility and added value
  • Written partnership agreement
    • Outlines division of tasks/responsibilities
    • Addresses expenses and how covered by partners
      • Marketing LLC?
    • How commission is shared: all business vs. personal SOI
      • Dig in to the details here – second and third generation leads?
    • Dissolution clause that addresses database, any intellectual property, websites, software, open escrows and listings

 

Informal Team

  • Lead Agent gives referrals / leads to other agents
  • Written referral agreement
  • Referred agents conduct own business without sharing commissions with Lead Agent
  • Pros: minimal responsibility for managing a team for lead agent; less risk and commitment to resources
  • Cons: Less control over lead and priority referred agent gives this business vs. their own

Rainmaker Team

  • Team Leader(s) is in charge; primarily listing agent, rainmaker (lead generator).
  • Internet-based lead generation teams produce primarily buyer sales
  • Team associates also generate their own leads (Teach to fish)
  • Team size and structure varies based on goals and production of the Team Leader
  • Written agreements with Team Associates outlining commission sharing, termination policy, team procedures, expectations, termination policy.
  • It’s not always about the leads! Team associates want structure, security and to learn from the top producer.
  • Pros: Increase productivity; additional income; specialization; leverage time and resources with the right team members
  • Cons: Inevitable challenges that come with managing people; turnover; recruiting and retaining good agents

RainmakerTeam

Variations of the organization chart

  • Dual roles for key position
    • Team Manager is also the leads manager
    • Admin serves as TC, Marketing
    • Hire to additional positions when needed (set a revenue goal)
  • Define Your Listing Policy
    • Can Buyers Agents List?
    • Or are all listings referred to team leader
    • Are listings in Team Leaders name/MLS ID with TA listed as co-listing agent
    • Recommend Team Yard sign with optional sign rider
    • Do you want a listings specialist or showing agent?

Traditional Brokerage Style Team

  • Team Leader(s) has more of broker-owner/COO role. May list and sell but not primary role as in Rainmaker Team.
  • Team size and structure varies based on goals
  • Model focuses on hiring and training new or newer licensees
  • Must have a new agent training program and team manger(s) (10-15 agents to 1 manager ratio is recommended)
  • Must compete with traditional companies who focus on new agents with tools, resources, support and training.
  • Written agreements with Team Associates outlining commission sharing, termination policy, team procedures, expectations, termination policy.
  • It’s not always about the leads! New agents want structure, security, training, mentoring and leadership.
  • Pros: Higher team dollar generated initially with lower splits; Increase productivity; specialization; leverage time and resources with the right team members
  • Cons: Time and expense of training new agents; turnover of new licensees; recruiting and retaining good agents; retaining solid team managers; always recruiting; managing larger operation

 

TraditionalTeam

 

Expansion Team Model

  • Both the Rainmaker & Traditional Brokerage Style Model will work for expansion teams
  • Must have rock solid team operations manual and turnkey systems in place
  • Identify Team Manager first in new market
  • Team Leader and primary staff support the satellite teams (Home base operations)
  • Leverage technology, cloud-based operations
  • Ideally - stay within your company/franchise

 

Our turnkey, complete team building system includes all of the materials, supporting documents, checklists and manuals along with the step-by-step implementation training delivered via our on-demand video coaching platform.

Visit www.RealEstateTeamBuilder.com to learn more about our “Team Building in a Box” system to build your profitable real estate team.  

 

We also provide a wide selection of other real estate and business coaching programs that are designed with the agent in mind to help you build a successful career with real life instruction on how to implement and execute.

 

You can learn about the other products and services provided by WBNL Coaching below: