A Thoughtful Look at Building a Team
I’ve recently spoken with several agents who are debating the right time to grow their team. While every situation is different, I wanted to share some perspective. Below are three agents’ motivators for expansion:
One agent who has 15+ years in the business wants to focus only on a certain price point and hand off anything below that range to a junior team member.
Another is on the verge of burnout without finding more support.
A third wants to grow into Brooklyn, but his network is almost entirely Manhattan-based.
All of these are valid reasons to consider bringing on new team members. I tend to take a pretty conservative approach to these big decisions, so once the “why” is clear, I also stress the importance of the “why not”, or even just “why not yet.” Proper planning and strategy can help ensure this isn’t an impulsive decision to fill an immediate need, but instead a logical longterm decision that will really help you become more productive. Here are a few common issues I’ve seen that can create friction between lead agents and their team members:
The lead agent isn’t interested in providing mentorship or training (keep in mind that many agents, even those with years of experience, are looking for some level of guidance).
They know they can be a poor communicator, micromanager, or hold unrealistic expectations that can lead to burnout (self-awareness is important and these things can be improved!)
They’re unwilling to offer a fair split that is commensurate with the level of responsibility they expect of their new team member
They don’t have a steady flow of leads to help create some financial stability
And here are a few ways to set the relationship up for long-term success:
Take the time to build the organizational tools and systems you want team members to use. They’ll appreciate the clarity and direction, and it’ll make it easier for them to handle your deals/clients the way you want them to.
Don’t rush to hire someone on a whim. Speak to references, take them to lunch, bring them to a couple of showings. Get a solid feel for the relationship and whether you think they could be a good match for you.
Once they’re onboard, map out their goals and help hold them accountable. Check in, offer support, and problem-solve together.
Set recurring 1:1s that go beyond transaction talk and help build a personal relationship.
I’m happy to talk through what expansion might look like for your business and how I might be able to help. Reach out via email here.
