Our current series continues on the difficulties, challenges and opportunities in being a local real estate agent. We’ve been talking about a variety of realtor-related issues that are relevant to both new and experienced agents.
It is time to circle back on the topic of proactive team building in real estate. Between watching our own agents organically grow as they work together combined with our recruiting program’s ongoing interviews with agents from other brokerages, we’re going to share a few things about what we observe in the traditional team model vs. unique team-like initiatives like our Agent Leads Generation Program.
The traditional team structure typically calls for a team leader and top producer and agents under their supervision. It is usually a mix of buyer and seller agent specialists, showing assistants, and sometimes other administrative help or transaction coordinators. Overall commissions on team transactions are split up and allocated. This is a very traditional definition of the team structure and is a model that still exists to this day in various brokerages all over the DC area. The trigger points for this type of team is a leading agent with “too much business” and “too many leads” to service themselves. For the academics, this is a reactive business model that only exists due to the presence of lots of incoming opportunities at one time in the team’s history (hopefully leads are still flowing in).
A proactive team building model means you build your team structure because it is the right strategic move for your realtor business, and you often put the team structure before leads are funneling into the top of the team. “There is no reason why a group of realtors with a common interest in optimizing their volume can’t work together from the gitgo,” said Gerard DiRuggiero, Principal Broker of UrbanLand Company. “You don’t need to be old friends, you don’t have to come out of Pre-Licensing together; all it takes is a common goal toward building your business and a brokerage that supports and assists in creating team structures and profit centers.”
How can a brokerage help you build a team? Reactive team models only exist due to a flow of prior leads, and proactive team building creates groups that don’t necessarily have a flow of leads. “If you have solid, committed real estate professionals coming to you (the broker) wanting to team up in a tangible fashion, you job as the broker is to funnel leads to that new ‘hands team’ as quickly as possible,” said DiRuggiero. “Teams absolutely need to get off to a strong start together, or their enthusiasm and desire to work together falls off.”
We’re absolutely seeing proactive team building occurring organically within our Agent Leads Generation Program. “We started the program years ago on a reactive basis after several channels of leads for us suddenly started producing at a high flow. The in-house leads program has evolved on its own, and as we approach year 5 of the Program we’re starting to draw in agents naturally wanting to work together on our opportunities. It is an exciting time over here,” continued Gerard.
Here’s some of the differences:
- There’s no senior agent at the top of the team taking the best leads for themselves. Our Agent Leads Generation Program assigns leads based on again, who is trained for the lead’s needs, and who is available to service it. Every single incoming lead gets assigned to an active Program agent.
- Agents in the Program have committed to work together. This opens up real opportunities when you are dealing with a large number of leads. Here’s a great example. Our First Time Buyer leads need a lot of hand-holding and often end up in our brokerage-sponsored Workshops. Our Agents routinely push their new leads in the Workshops as a means to educate their new prospects efficiently on a variety of topics. Their leads are protected and the Workshop agent takes the lead through the Workshop topic without solicitation.
- We meet every single Thursday morning via conference call in a dedicated meeting that strictly deals with leads, what we’re doing with them, and what to do with them next. It’s a power meeting that the agents contribute heavily to. “Program agents have direct access to the brokerage marketing and lead generation team in this weekly meeting. We tweak our marketing and pursue new initiatives geared toward bringing in more leads and prospects,” said DiRuggiero. “We have several active new initiatives that derive directly from listening in to agent input and market knowledge form this simple Thursday call.”
- Agents in the Program take full responsibility for their leads and prospects. There is no layer of Showing Assistants. You are showing your own product, you control the interaction and what is said to your buyer or seller, and you are directly responsible for your own success with the prospect. It makes for a more cohesive sales process with the agent fully in control of prospect communication. A lot can go wrong when you have multiple people in an organization touching a prospect rather than one doorway of sales communication. Our Program Agents love to be accountable for what is said to their prospects during the sales process!
- Besides a low Program referral fee when you close one of the brokerage leads, agent commissions are not diluted by other members of the pipeline.
If you’re a team leader currently or are thinking about forming a team, talk to us about what the Program can do for you (and your teammates)!
Our in-house Agent Leads Generation Program naturally maximizes your in-the-field exposure as an agent. It doesn’t matter if you’ve been licensed 5 minutes or for 5 years. Our firm’s Program for lead generation and realtor development is highly effective. The main requirement for entry into the Leads program here is 2 things – your time commitment and a desire to max out your in-the-field exposure as an agent with the public.
CRM TRAINING & MONITORING
Every person you meet. Every hand you shake. Every phone call you take. Maintaining a pipeline is easy with our in-house assistance.
There’s a secret to generating business out of online real estate leads. It’s called an exclusive pipeline of potential clients who are asking for your advice and guidance.
Multi-week rotations leading a variety of topics in our Home Buyer Workshops pays off for agents!
Open House rotation puts you play with home buyers in great price ranges and gets you face-to-face strategically with other neighborhood potential sellers. Here’s some of our typical Open House opportunities.
Again, fundamentals matter. Neighborhood outreach delivers a high return on your time investment, if you follow the game plan.
Like meeting new people a lot? Join our Same Day Showings team and get access to home buyers and renters who want to go out right now!
Experienced agent? We encourage natural and organic team building within our organization. Let us build your local team brand.
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Here’s some recent closings from our Agent Leads Generation Program!