Another big thing for real estate agents: don’t hire one person per role. Better to hire multiple people per role. If I have just one, and they’re having a bad week or month, that’s bad for the company. It means your company is having a bad week or month. That is not good for business!
However, if I have two or more people in the same role, they’re competing and they’re both working hard. They’re motivating each other and now, they’re each more productive for me and for the team. It’s good for them, it’s good for the team, and it’s good for business.
You’ll also need a bookkeeper or an accountant at some point. For a smaller team, you can use QuickBooks Self-Employed. For a larger team, expand to the full software; it’s well worth it.
If you’re a team leader, you’re going to need an attorney. They don’t have to be on staff, but they should be available to you on demand.
The most important thing to remember as a team leader, you work for your team members, not the other way around. By providing tools and resources to them, you are removing any roadblocks that are preventing them from becoming as successful as they could be. Not only that, but remember there will be things you need to pay for, sometimes long before you make a profit, and you need to be prepared for that.
There will be bad months, and you need to be prepared for that as well. That way, during those bad months, you can still make payroll and your team won’t implode.
You should be expanding into other markets once your team grows to a certain level. For example, if I am based in Seattle, I’ll consider expanding into Bellevue or Tacoma.
When should you be building your team? RIGHT NOW. Teams are rapidly taking over the country: the race is on. There are teams in every major market in the country. You need to be thinking about what you need to do to stay a step ahead. You need to remember to focus 90% of your day on lead generation, lead follow-up, and lead conversion.