If you found yourself working 12 hours per day with, your family complaining about never seeing you, and your hard work still doesn’t pay off, it might be the right time to stop doing everything yourself, and form a team.
But, which for which position should you hire first? It’s always a hot topic, when it comes to building a real estate team.Money cravers often say it’s a buyer’s agent, especially when paid on 50/50 commission, but no, that wouldn’t be the right choice. Sure, it saves you money as you pay them only after they seal the deal, but there are many things you need to handle to even get the opportunity for a successful contract. This means you should start with hiring people to help you with unavoidable administrative tasks.
A virtual assistant takes all the boring paperwork off your back restore pictures. They deal with all the tasks you want to avoid, like preparing documents, answering emails, scheduling meetings, etc.
The next role a growing real estate team needs is someone to handle sales transactions. This includes everything from communication with clients to closing a purchase agreement.
Now that you acquired people for all the paperwork, the next addition to your team would be a buyer’s agent. This is a person who shows properties and makes sales. They have a good knowledge of a local real estate market and are here to help clients make a well-informed decision when buying their dream home.
You might be asking – do I need an agent to sell and an agent to buy? It’s not obligatory, but you probably do. Buyer’s agent works in buyer’s best interest, and a listing (seller’s) agent does the same for their client, the seller. Having one agent deal with both means they can’t satisfy the duty of loyalty, as they can’t be representing both their needs at the same time.
You definitely need someone to take care of creating, promoting and managing your branding as well as your marketing strategy. A marketing director has a big list of responsibilities, which includes everything from creating campaigns to managing social media.
As your business starts growing and you have more clients on a daily basis, getting on showings on time become more difficult to accomplish. A smart addition to the team would be an assistant photo recovery who would help with showings.
Last but not the least, you will need a real estate sales manager to make sure you are reaching your goals. This person supervises agents and even provides them with sales strategies trainings. This is the main morale booster in your team.
After you gathered a team, you need to figure out how will you distribute their earnings. There are three types of compensation models: commission splits, salary and a hybrid model.
In order to achieve maximum productivity, the best compensation method for your agents would be a 50/50 commission split. Why?
Since you hired a team of professionals with specific roles, they all have time to focus on their own responsibilities. An agent who doesn’t have to deal with boring paperwork sports watch or writing emails has more time to do what they are hired to do – seal the deal.
Now, this type of compensation works great for agents, but not everyone can be paid that way. Some roles, like virtual assistant, deal with the same type of tasks on a daily basis, so it makes more sense to use a salary-based method to pay them.
Don’t forget to tailor your compensation system to reward high performance.
Keep Track Of The Results
In order to successfully manage a real estate team, be clear on the expectations. Tell your team what are the main tasks, and how will you measure performance.
Measure your team’s progress by monitoring employee computer activity through a user tracking software, which provides many different features that help you analyze productivity. A projects and tasks tracker gives an overview of time spent on a project, while the time tracker keeps tabs on everyone’s time spent in and outside of office. Monitor computer activity to identify trends in employee’s progress and gain insight into how can future performance be optimized.
Another important thing monitoring employee computer activity helps with is a payroll calculator, that assists in your employees according to their productive activities. You can distribute earnings across your team with just one click.
Remember to not micromanage your team, don’t use monitoring employee computer activity as a way of surveilling your team. Instead, use it as a productivity measurement. Read about https://arkconsolecommands.com/ark-survival-evolved-item-ids-cheats-list/