Building a team takes more than just solid real estate experience. What IS the pattern for success? Why do some teams with great agents end up failing? What role does team culture play? In this episode, Brandon Landro shares his experience on how to build a real estate business that passes the test of time.
Culture matters. If they don’t fit with the group, it doesn’t work. You’ll find that you’re “forcing it” all the time. -Brandon Landro
- Join the Club Wealth Real Estate Agent Mastermind Facebook Group
- Get info on the Business Strategy Mastermind Conference November 13th-15th 2018 in Anaheim, CA
Three Things We Learned From This Episode
- Don’t be in the middle
If we want to build a team, we need to make sure we understand the numbers involved. Don’t stop at a medium-sized team because you will have high expenses, yet not enough people to help you cover them. A small team has the advantage of fewer expenses, and a big team has the advantage of making more sales. At the end of the day, we will have to pick one of these two models.
- Don’t go to networking events just to make connections
We can’t grow without investing in our education, yet many agents end up going to events only to socialize. If we are going to take time away from our family and business, we need to be sure to write notes and leave the event with some takeaways.
- How to find buyer agents that stay on your team
Don’t chase agents from other agencies. Put an ad up, and if they aren’t interested in what you offer during the interview phase, they might not be a good fit for your culture anyway.
Another key aspect of keeping low turnover rates and a motivated team is to reward them when they deserve it. Set a target for the whole team and, if they reach it, give them a vacation. Hold weekly meetings, training courses, lunches, or anything else needed to help team members get to know each other and integrate the newest agents into our company’s culture.
Brandon Landro is a real estate broker and the founder of Landro Fox Cities Realty in 2006. With his wife, he also started a real estate team, The Jennifer Landro Real Estate Team, and his goal for 2018 is 500 sales. If you want to find out more about Brandon, you can contact him by email at email@example.com. He is also a real estate coach who works with top agents looking to grow their business to a whole new level.