The HIDDEN skillset that is the secret to running a successful real estate team
Today I wanna talk to you about the hidden skillset, that’s really a secret, not talked about, as it pertains to running a successful real estate team.
But before I get into it, as always, if you haven’t already, I want you to go to marketmakercall.com, watch a short video on how we generate leads for you, nurture those leads, developing your brand, authority and status in the mind of those leads. And then, ultimately deliver those leads directly to your calendar as a prepositioned appointment. It’s exclusive, it’s one agent per zip code, it’s patent-pending and it’s new.
Now, I didn’t know this when I first went into, you know, the idea of starting a real estate team. I didn’t know I was going to have to have this separate skillset. And when I watch people talk about starting teams, they really pontificate all the benefits of being able to multiply yourself through others, so that you have a business that works so you don’t have to. But what’s not talked about and what’s not discussed unless it’s behind closed doors of a lot of secret mastermind groups is this one secret that is really required in order to pull it all together.
That secret is leadership, okay? It’s also known as management. The skills for management and the skills for leadership are what is required and they don’t tell you about when you make that first hire of a buyer’s agent, or you go about hiring your first inside sales agent.
So, what happens is, we’re kind of just swimming in the water. We get out deeper and deeper, and it’s too far to go back, though sometimes people do go back. We don’t know the skillset, we don’t know what’s necessary to succeed. So I’m going to give you some tips on what I’ve learned the hard way, in regards to this, so that you can get in front of it.
Now, to begin, on that particular topic, you need to have some structure. If you hire somebody, they need to know when they’re doing a good job and when they’re not. In fact, that’s one of the interview questions that you might consider asking, “How do you know when you’re doing a good job in this particular position”?
But what really has to happen beforehand is you have to have some forethought into the position. When you look at the structure of a real estate team, you have administrative staff. Then, you have sales staff, which could be segmented into outside sales, which would be a real estate agent showing properties and listing properties. Or with inside sales, which could be a licensed or non-licensed assistant calling the leads. You should have a lot of leads coming in and then setting appointments for the rest of your agents.
When you have this, you have a place to start. The best place to start is hiring an assistant. Find an administrative assistant before you hire an ISA, or before you hire another team member. I see a lot of agents get this backwards. And what they’ll do is go and hire a buyers agent first. Then, the next thing you know, they’re giving their business to that buyer’s agent and cutting their paycheck in half. They are facilitating the closing of deals which just means that they have a paid audience, right? The new buyer’s agent didn’t learn the skills to be able to go do that autonomously on their own.
So, the assistant is going to be the best bang for your buck that should free up your time for you to either get more business or build more of these systems in place. A great book on the topic of business systems is “E-Myth” by Michael Gerber. I think it’s a fantastic book that really changed the trajectory of every business that I had. It taught me how to be able to build processes and have procedures in place, so that when somebody came into a job in a position, not only did they know what to do, I know if they did it or not, right? And that’s having a good business in place.
That’s the difference between having a people-dependent business and a system-dependent business. If you look, smart people build systems as far as business is concerned, which allows them to scale. That book, again, will help you on that particular topic so that you make sure that you have the right business systems in place.
It could be as simple as a checklist inside of the manila folder, which has the contract in it so that they know what to do and in the right order. That’s just one small example of a business system that you can do tomorrow.
As far as leadership is concerned there are a lot of books and a lot of topics on this particular subject. But really it’s management that is required. I think to really be good at management, you have to have the same kind of servant’s heart and mentality that you have toward your customers that you would toward your employees, and the people that are working with you to grow this business with you together.
One thing that you guys both subscribe to is this idea of the business, right? And the idea of the business being built up in a manner to serve both of your needs. So, have that servant’s heart and if you start with that, you’ll start to think through like their experience. I always called the employees or even the agents on my team, my internal customers. So think about them in that manner and how you can facilitate and serve the internal customers so that they can do a good job with the external customer.
You take care of the people in-house, then they will take care of the people outside of the house, and you should have a pretty robust business. I would invite you to really study up the topic of good leadership and management. Think through how to serve these people in a way that is going to be the most beneficial.