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Onward and Upward! 8 Tips for Growing a Thriving Real Estate Team
If you've hit a point in real estate where you need to scale in order to accomplish your goals, you might consider growing a team. Maybe you have more leads than you can handle by yourself or administrative tasks are swallowing time that could be spent nurturing those leads. In any business, scaling is an exciting step – but mistakes along the way could impede your growth! Here are eight steps for building a rock-solid real estate team:
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How to Build a Successful Partnership with Your Transaction Coordinator
When growing your real estate business, one of the first set of tasks that you'll likely want to delegate is transaction coordination. This is an awesome strategy for leveraging your time and creating space to focus on making more sales. However, it's not as easy as just handing over the file and collecting a check at the end of the deal. While your transaction coordinator (TC) is there to handle the heavy lifting and help move the deal to closing, they still need your help to be successful. There's nothing more important than learning how to build a successful partnership with your transaction coordinator.
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How to Find a Transaction Coordinator
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Do You Need an Assistant or a Transaction Coordinator?
As your client base grows, so should your overall operation. It's the nature of business, and trying to do everything alone could actually hurt you, and your business. Hiring a general assistant or outsourcing virtual transaction coordinator services are two options that can quickly grow your business without breaking the bank. The difficult part is deciding which option is a better fit for your business. Take your time to evaluate the pros and cons of each, and decide which would be better for the long-term growth of your business. To help out with your decision, we have gathered some of the most prominent pros and cons of each.
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Why You Should Consider Sales Talent for Your Real Estate Team
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How to Find a Virtual Assistant
Have you found yourself spending too much of your valuable time doing mundane tasks? Scheduling meetings, chasing down signatures, data entry, or managing social media accounts? A real estate virtual assistant could take all these tasks (and many more) off your plate. When it comes to hiring a real estate virtual assistant (VA), you have many options. One is bound to suit your needs and free up more of your time to do what really matters.
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Hiring a Gen-Z Intern May Be the Best Thing You Ever Do for Your Business
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7 Real Estate Job Descriptions to Hire an All-Star Team
Your job descriptions should be informative, but also stand out. How do you write one that isn't boring, too standard, or just a supremely lame laundry list of duties? The first step in growing your business is to think about hiring your team. And when that time comes, you will need to sit down and compose job descriptions that will entice the best candidates to come knocking on your door. Where do you start? List out the responsibilities of the role, then think about what traits, skills, experience, and education is necessary to perform the job well. We put on our thinking caps and did some of the work for you. Here are some sample job descriptions for various roles that make up an all-star real estate team. Keep in mind that these are general guidelines, and should be tweaked and personalized to better align with your perfect new hire.
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NAR hires two heavyweights to head up Communications and Advocacy
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Detailed Guide to Hiring an Assistant for Your Real Estate Business
We all have the same amount of time in a day, but it seems like some people manage to fit so much more into theirs. While some agents are making big money working four days a week, you're working seven and are so busy with paperwork, phone calls, and creating Facebook Ads that you hardly have time to find new leads and convert sales. You're stuck in a cycle of trying to manage your business all on your own and wondering how other agents manage to get it all done. Well...they get help. Some agents put together teams of individuals who do everything from marketing to lead generation to showings. But you don't need a whole team to clear room in your schedule. An assistant can handle many of the day-to-day tasks that are weighing you down. But hiring an assistant is confusing. What do you need to do? Where do you start? Can you afford to hire someone? If you've ever wondered if an assistant is right for you, what kind of help you need, or how to find and hire the right person, we've got you covered.
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Thinking of Hiring a Virtual Assistant? What You Need to Know
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Step Up to the Plate and Recruit a World-Class Team
"To be a team leader," according to James Colburn, "you need to be a rainmaker, a haymaker, a leader." Your team "can be as little as you and your assistant," or include a full roster of players. Discover who to recruit for your team with tips shared by Jim Remley and James Colburn in a recent Secrets of Top Selling Agents webinar taken from their upcoming book, Teamify. As you start planning, keep in mind that, according to Remley, "This isn't going to start from day one; of course, this is going to be a build-out." Team Leader (You) Every team needs its heavy hitter, and in most cases, that's going to be you, the team leader. Your team's success starts with you, so when building your team, Remley suggests you "Start saying to yourself, 'If I was going to pay myself $500,000 a year, what would I have to do? How do I have to look? What do I have to dress like? What do I do every day?' and hold yourself to that high standard." Create a "team leader" job description for yourself that takes into account "what you would require of someone you're paying that kind of money to." If you would want your team leader to be at the office at 8:00 a.m., hold listing and buyer presentations, and actively use the CRM to incubate and follow up with leads, add it to your job description and hold yourself accountable to it. Team Administrator The first player you'll likely recruit to your team is an assistant. As you team grows, your assistant's role can shift to that of the team administrator. "The way I look at a team administrator, it's just like a medical office," said Remley. "When you have a medical office, you usually have a front-office manager who manages every aspect except the patients...a great administrator is just like that; they're running a whole ship and kind of making sure that the doctor is doing what they should be doing...that the administrator is putting you in position to be operating at your highest and best use."
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4 More Tips for Building a Real Estate Dream Team: To Hire or Not to Hire?
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The Importance of Having the Right People at Your Real Estate Brokerage
Making profits in a real estate brokerage is challenging at the best of times. We need to make sure that we are operating as efficiently as possible—and this article is going to explore one of the ways to do this: hiring the right people. First off, let's realize that 65% to 70% of expenses in operating your brokerage consist of rent and salaries. This is true across the industry—just two numbers account for over one-third of your expenses. And the rent, once you have decided on location and signed a lease, is pretty much fixed. Unless you have a landlord who likes a good sob story, don't waste your time agonizing over it. But salaries are another question. There are lots of things to consider when you look at what you are spending in salaries. First off, hire the right people. A staff member at $40K who does half the work of the $50K staff member is NOT a better deal.  We see brokers shortchange themselves all the time by trying to skimp on salaries. And consider that the staff member probably interacts with your agents more than you do. For anyone who hasn't already, we highly recommend reading the book Good to Great by Jim Collins which has an excellent description of the topic of having the right people on board. A 50% more efficient employee at 33% more cost is a great deal!
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Monday Morning Mobile
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