Your Power Team Represents You

As professionals we’ve heard it said that it is absolutely imperative that you have a really good power team.  A power team is composed of several individuals.  Some of the most common in Real Estate are closing attorneys, loan officers, insurance agents and appraisers.  These are all key people to a transaction and anyone of them can make or break a deal so it’s important to have ones that understand what you are doing, are on your side and are very good at what they do with lots of experience. 

We have had the privilege of working with some amazing people along the way that have helped get from one level to the next.  This is so important as your business grows.  As a result, we have learned to never underestimate them in what they can mean for your business.  Taking the time to build these relationships is imperative because of the mutual growth that can be obtained by all.  Daily growth is powerful!  And of course you want to be able to trust them to handle anything within reason that comes your way.

Now that I have painted a rosy picture, I must confess, we were recently reminded of what happens when someone no longer lived up to our expectations.  While we know no one is perfect, sadly we had a transaction blow up because one of our power team members didn’t quite give a project we were working on the due diligence that was required.   As a result our client we were working with lost faith in us.  Even though we technically didn’t do anything wrong and were ready to go, a particular power team member let us down in his inability to communicate effectively.  As far as the client was concerned, it was our fault because the reality is we choose this power team to work for us. They were our reflection whether we liked it or not.  We were greatly dismayed by this because this was actually a very good win-win situation we were building.   It is very easy for any particular professional to help you when everything is going well.  It is when something goes wrong that you find out if they are good teams for you or your organization to work with.

The reminder lesson learned is that we need to vet people for our power team thoroughly. While this guarantees nothing, it does save a lot of time down the road when you have a solid person.  Sometimes updates to your power team will be needed as your business grows so we take what we have learned and move forward.  Always keep your power team on their toes and hopefully they will serve you well and thankfully, many of ours have.  And who knows?  Maybe the deal will come back!