RISMedia's Real Estate Magazine

APR 2017

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.

Issue link: http://remag.rismedia.com/i/805428

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Page 87 of 134

RISMedia's REAL ESTATE April 2017 83 {Power Teams} The Power of a Team by Verl Workman I often hear from experienced and successful agents that they're not sure if they want a big team. Let's address that first by saying we're all teams at some level. Because of the complicated nature of the real estate business, it would be very difficult to do business without the help and support of others. For example, as a single real estate agent, you rely on lenders, appraisers, title companies, managers and others to successfully help you complete a transaction. This is one definition of a team. I would like to define the word 'team' a little differently, though. The above description is really a group of independent people with their own agendas working with a common client on their portion of a transaction. A group is valuable, but a team is invaluable. Here's why. A team is a gathering of like- minded people who have clearly defined roles with a common ob- jective that centers around provid- ing the ultimate client experience. When you move from being part of a group to being part of a team, an amazing transformation occurs. Team vs. Group The core person on any team is usually given the title of team lead- er. It's the role of the team leader to identify areas where the opera- tion can improve, and select sys- tems and individuals to make that happen. The first hire we suggest is a cli- ent care coordinator (CCC). This role is so critical that hiring the right one can literally change your life. The opposite of that is also true; hiring the wrong one can destroy your business. A great CCC handles everything that has to do with taking care of clients and creating operational excellence within the business. Programs like AMP (our Admin Mas- tery Program) have been created to help team leaders train their CCCs. As you go through a proven hiring process to identify the right per- son for this position, your level of stress may go up during training, but will go down through execution. Next, we look to bring on posi- tions that will reduce the amount of time we spend away from our families. For many of our teams, the next hire is a buyer's agent. Our rule of thumb is that for every 25 leads generated by the team per month, an additional buyer's agent is needed. Compensation, training and onboarding should all be sys- temized, leaving the team leader with a profitable business. Building a small team with a CCC and one buyer's agent is simple. It allows the team leader to focus on what they do best, and the others to provide a great level of customer service. A team of this size should be able to handle 100 closed transactions a year. Do the math, and ask yourself: Would my clients get a higher level of service, and would my family benefit, if I were willing to let go and delegate? If the answer is yes, it might be time to start building your team. Verl Workman is the founder and CEO of Workman Success Systems (385-282-7112), an international speaking, consulting and coaching company that specializes in performance coaching and building successful power agents and teams. Sign up today for a free business consult with Verl by sending an email to coach@verlworkman.com. To hire Verl to speak at your next event, email events@verlworkman.com. "We're all teams at some level." - Verl Workman Founder and CEO, Workman Success Systems

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