Starting a real estate team isn’t an easy task for the team leader. Here we run through the four most common reasons real estate teams fail, so you can avoid these mistakes as you build a successful team.
Don’t let these four mistakes derail your real estate team’s success.
#1. Poor Recruiting Planning
Hiring agents without a long-term recruiting plan can lead to quick turnover and ultimately hinder your team’s growth. Your recruitment systems should be based on where you see your business in ten years, and how you will encourage agents to achieve the levels of success that you envision.
#2. Hiring for the Wrong Reasons
Just because you have a good feeling about a someone, does not mean they are the right person for the position you are looking to fill. While you may have a gut feeling about someone, it’s always a smart idea to utilize a personality assessment tool, such as the DISC behavioral assessment, when meeting with potential new team members. By identifying the candidate’s personality profile you can determine whether they have the right personality to succeed in the role. Remember, you aren’t looking to hire someone with the same skills you already bring to the table – you want people on your team with complementary skills and traits.
#3. Insufficient Training
Continued training and support is critical to the success of your team. When a team has insufficient training, team members lose sight of expectations, priorities and goals. This can lead to a decrease in quality of work and drag on the team’s success. Whether you’ve hired a rookie agent or a seasoned professional, ongoing training is necessary in an industry that is constantly changing.
Team leaders tend to have type-A personalities, which often tend to to micromanage and develop overwhelming workloads, which can lead to an unhappy team. The point of hiring team members is to alleviate the workload on a team leader, but many times leaders have difficulty delegating tasks out of fear that someone else won’t do the job correctly. It’s important to keep in mind that your staff specializes in certain areas, and by giving up control you allow them to do their job so you can devote all your attention to yours.
Running a Team is Hard
Forming an effective team involves many moving parts and often requires more up-front planning than originally expected. So, remember to be kind to yourself as you go. There will be challenges along the way, but you can handle them and you will improve over time. No one “just knows” how to start or run a team. It’s a muscle that gets stronger over time. Even veteran team leaders can find areas for improvement.
The reward growing a team the right way is that it will multiply your results and earnings dramatically. At AgentEDU® we have an entire learning track on Team Building that breaks down its different aspects. Check out this track – as well as the nine others – that we have on our platform.
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