A real estate investor can make or break their real estate agency as well as their career in general by the way they manage their real estate team. A real estate investor’s worst mistake would be to hire a whole team at the same time. The process of expanding their team should be gradual.
The reason why most real estate investors are scared of hiring other real estate agents is because they feel that they will not be able to handle the team. However, real estate investors should trust their expertise and capabilities to run the business as the boss and delegate duties to other people.
Extending your growth opportunities through other people.
Real estate investors should appreciate the importance of having a team as a way of gaining leverage. You have people working for you therefore you can get much more done at the same time than when you are alone. A real estate investor should develop a system in their workplace, find the right assistants and position them correctly. They should also motivate them so as to increase their dedication to the company and maintain high quality of work.
An investor can be tempted to hire friends and relatives when work becomes overwhelming. However, real estate experts like Jeff Adams advice against that. The problem with such relationships is you cannot demand the kind of work you would want them to do. It is difficult to handle them if they are unproductive since you don’t want to spoil relations. This leads to wastage of time and money.
Drawing the lines.
Once you are ready to start searching for a new assistant, you have to think about what you need them to do in order to help you grow your business. When interviewing, don’t just look at their CV and past track record. That is an added plus but is not what will help you grow your real estate business. It is important to do a personality test to ensure that their character matches that of a person you can work with. This also helps you to know where to start training them on their duties.
Make your assistant’s duties clear to them so that they know what you are expecting from them. Set goals and expectations for your agents in their first three months in your company. They will also need to sign a contract agreement independently. The contract should have an exit agreement, in order to protect all leads that they generate for your business. However, you should be at the forefront of lead generation.
Duties that you can delegate to your real estate assistant and other agents in your company include buyer appointments, inputting listings, administrative work and marketing. Another important thing to note is that your real estate team should have core values which you have created. All other employees should meet the company’s values ensuring that everyone works coherently.
All in all, maintaining a real estate team does not require any complicated systems. You just need to choose the right people to follow your lead.
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