Action Sheet (AgentSuccessSummit.com)
Action Sheet
(AgentSuccessSummit.com)
Speaker:
Travis Robertson
Title:
Building a High Performance Real Estate Team.
Free gift:
Key Team Roles, Responsibilities & Compensation (pdf) AND Administrative Assistant Job Responsibility Outline (pdf) www.AgentSuccessSummit.com/TravisGift
The 3 Most Common Team Models and How to Select The Right One Individual Plus Contractor Model. View vendors at part of team (lender, title rep, inspector, contractors, virtual assistant). Manage group like team without hiring. Partnership Model. Two versions. Non-Family (2 agents team up) rarely works. Plan the exit, before you start. Family (husband & wife, mother & son) might work…succession. CEO Model. One person at the top who is responsible and in charge. Most common. Determining Who to Hire and When Hire administrative assistant first…get a C-S personality to handle the paperwork. Full time is preferred. Part time may work, but could be lower quality and commitment. Alternative start - pay a Transaction Coordinator (independent contractor) per close. 2 agents hire and share one full time assistant. Hard to serve two masters. Who to Hire Next Buyers Agent. (Some agents may bring on two administrative before a buyer agent.) Buyers take lots of time. Leverage with BA. Focus on listings (less time) & rainmaker. How to Compensate the Key Roles Don’t over-compensate in terms of splits. Tie everyone to their productivity. Administrative. $12-$20 per hour (depends on local) plus spiff/bonus per close ($50). Buyer Agent. Never exceed 50% to agent after broker fee (biggest error…split too high). Start at 40% during training and tier up based on production, either X total closings (10) or X closings per month (2). Listing Partner. Max 40% split – maybe down to 30% (lower split than BA). Also can be a base plus a commission ($2-3,000/month plus 10% commission). Get agents to focus on the NET INCOME number (take home pay) not the split. The Most Common Mistakes When Building a Team and How to Avoid Them Not hiring an administrative position first. Hire BA first, but no systems to support. Expect BA to be main lead generator. If BA can generate biz, they don’t need a team. Over-compensating team members. Don’t try to compete with other teams in area. Team Leader net income goal. Start with what you want to take home. Goal: 35-45% profit. RE-invest back into the business – will lower net in early years. Efficiency will raise net. The 3 Steps to Correctly Building Your Team 1. Become a master lead generator with consistent, predictable lead flow. Refer out. a. Direct mail / geo farming, online internet leads, Facebook ads (free CMA). 2. Bring out Admin Assistant and build out key systems, processes, and procedures. 3. Hire dream team. Use systems and checklist for quick growth.
(AgentSuccessSummit.com)
Speaker:
Travis Robertson
Title:
Building a High Performance Real Estate Team.
Free gift:
Key Team Roles, Responsibilities & Compensation (pdf) AND Administrative Assistant Job Responsibility Outline (pdf) www.AgentSuccessSummit.com/TravisGift
The 3 Most Common Team Models and How to Select The Right One Individual Plus Contractor Model. View vendors at part of team (lender, title rep, inspector, contractors, virtual assistant). Manage group like team without hiring. Partnership Model. Two versions. Non-Family (2 agents team up) rarely works. Plan the exit, before you start. Family (husband & wife, mother & son) might work…succession. CEO Model. One person at the top who is responsible and in charge. Most common. Determining Who to Hire and When Hire administrative assistant first…get a C-S personality to handle the paperwork. Full time is preferred. Part time may work, but could be lower quality and commitment. Alternative start - pay a Transaction Coordinator (independent contractor) per close. 2 agents hire and share one full time assistant. Hard to serve two masters. Who to Hire Next Buyers Agent. (Some agents may bring on two administrative before a buyer agent.) Buyers take lots of time. Leverage with BA. Focus on listings (less time) & rainmaker. How to Compensate the Key Roles Don’t over-compensate in terms of splits. Tie everyone to their productivity. Administrative. $12-$20 per hour (depends on local) plus spiff/bonus per close ($50). Buyer Agent. Never exceed 50% to agent after broker fee (biggest error…split too high). Start at 40% during training and tier up based on production, either X total closings (10) or X closings per month (2). Listing Partner. Max 40% split – maybe down to 30% (lower split than BA). Also can be a base plus a commission ($2-3,000/month plus 10% commission). Get agents to focus on the NET INCOME number (take home pay) not the split. The Most Common Mistakes When Building a Team and How to Avoid Them Not hiring an administrative position first. Hire BA first, but no systems to support. Expect BA to be main lead generator. If BA can generate biz, they don’t need a team. Over-compensating team members. Don’t try to compete with other teams in area. Team Leader net income goal. Start with what you want to take home. Goal: 35-45% profit. RE-invest back into the business – will lower net in early years. Efficiency will raise net. The 3 Steps to Correctly Building Your Team 1. Become a master lead generator with consistent, predictable lead flow. Refer out. a. Direct mail / geo farming, online internet leads, Facebook ads (free CMA). 2. Bring out Admin Assistant and build out key systems, processes, and procedures. 3. Hire dream team. Use systems and checklist for quick growth.
