If you want to create a real estate business that will go the distance, an all-star team is a crucial ingredient. While any business ultimately thrives or barely survives based on in-house talent, real estate outfits are especially dependent on the right personnel. To get the right mix of staff in your real estate company, do the following.
Stand Apart from the Local Crowd
To attract top talent, you must be one of two things: an established outfit with pedigree or an upstart with niche appeal. An agency with a unique vision and corporate culture is especially attractive to raw talents looking to make their mark. Try to zero in on a niche like vacation homes or historic buildings with character and build a reputation.
Hire an Array of Personalities
Even top sellers aren't always a good match with every client. Some prospective home buyers prefer a subtler approach that more extroverted agents have a hard time wrapping their heads around. It's not a bad idea to have a few more reserved agents on the payroll to work with particularly cautious clients.
Make Team Members Partners, Not Peons
In many ways, it's best to structure your agency like a law firm. Give your agents incentives to keep them in the fold. For instance, you could offer a greater share of net profits based on tenure and average annual sales results. Doing so will reduce turnover and maximize long-term revenue.
Bring in the Best Paralegals Around
While they don't get the same respect that a deal-closer would, paralegals are often the glue that holds robust agencies together. These highly trained legal individuals often come from online paralegal schools and will check the fine print and perform the research that many licensed agents aren't trained to handle. Carefully vet any potential paralegals before bringing them on board.
Invest in the Best Tools Available
Nowadays, real estate agencies require a slew of software solutions to manage everything from listings to bookkeeping to CRM. Popular systems include iRealty, Marketing 360, Infusionsoft, RealtyAPX and Back Office GURU to name just a few. Top agents and paralegals will naturally be drawn to agencies that invest in the best tools for the job.
Great Agencies Aren't Built Overnight
It's unlikely that you'll be able to put together an all-star real estate team right out of the gate. It takes a well-crafted blueprint and the persistence to see it through to the end to attract the professionals you desire. Regardless, the tips mentioned here are a good start.
