RISMedia's Real Estate Magazine

AUG 2019

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

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76 August 2019 RISMedia's REAL ESTATE {Power Teams} For Joel Blumenfeld and The Blumen- feld Group, 2018 was a banner year. The group was named No. 1 in their office for sales volume and units, and achieved Berkshire Hathaway Home- Services' 5-Year Legend status, along with the brand's Chairman's Circle Di- amond recognition—the latter for the third straight year. In addition, among their brokerage's peers, The Blumen- feld Group came in at No. 4 in their county in homes sold. The driving force for their success? "No sleep, and a lot of work," Blu- menfeld says with the seriousness of a veteran, despite entering the field just eight years ago. Today, he's the dedicated leader of a six-person real estate team, affiliated with Berkshire Hathaway HomeServices California Properties in San Diego, answering the call whenever a client is in need. Here, he discusses his goals, lead- ership philosophy and his advice for new teams. SD: Your approach to leading your team is unique. Can you describe that for us? Joel Blumenfeld: My management style is being available 24/7. I take one vacation a year. I'm always work- ing, always available Saturdays, Sun- days, holidays, Christmastime, early morning…it keeps the standards high on our team to where we all want to have the same kind of work ethic, and shows buyers and sellers that we all have that same kind of standard. I lead by example. SD: That said, you're in the process of a rebrand… JB: I had some time to sit down with the Berkshire Hathaway HomeSer- vices marketing division and some professionals in the marketing field, and they're helping me become more of a real brand. I'm a company and incorporated, but one thing I need to do more of is having a consistent logo, color scheme, etc.—we have all of that today, but it's not as dominant as the bigger teams. Going forward, we're going to be a dominant brand. SD: How are you factoring in social media? JB: Thirty percent of my business comes from social media. It's mostly organic. Being a native, when I was a new agent, I added everyone to my friends list. Having all these people on my Facebook page has paid off over the years. They've seen my con- sistent success in sales and listings and awards, and they've reached out to me. The paid advertising does not lead to a ton of business, but it leads to branding. We spend a ton of money on Facebook advertising, [but now] we're restructuring where the money's being allocated. SD: What are your goals for your team this year, and how are you prepared to reach them? JB: We want to hit a higher GCI and more transaction units, and to be more of a team where we're cohe- sively working together, with team meetings, team appreciation par- ties and team events. Once we get the rebranding down, the goal is to have a lot more presence, get back to the community, client appreciation parties, etc. People see we have the experience and the success, and we're also knowledgeable about the market. If you don't know the market, people will see right through you. SD: As the leader of a real estate team, what have you learned? JB: It's not for everyone. It's very, very hard, time-consuming, and [you need] a lot of patience and a lot discipline. Don't grow too fast. Choose your agents wisely. Get to know their over- all goals. You want to really screen the agents and see what their true intentions are—[and] make sure they have some kind of financial cushion. It could take six months to a year to get started, and you want to make sure you have supplemental income. If you just let them jump in and join, it can disrupt your own business. Another thing: Don't hire anyone who's part-time. You can't do anything in this industry part-time! RE Suzanne De Vita is RISMedia's online news editor. Email her your real estate news ideas at sdevita@rismedia.com. Around-the-Clock Dedication Fuels Success by Suzanne De Vita

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