Building a team can seem like a daunting task, especially when you consider all the variables involved. This includes everything from hiring, compensation, culture and training, in addition to whether or not you’ll be able to generate enough business to feed the beast you’re about to build.
But it doesn’t have to be that hard. Here are seven simple questions to ask yourself to determine if it’s time to look at building a team:
- Do you feel that you need more time for family, friends and clients?
- Are you failing to follow up on B and C leads simply because you can’t handle the business?
- Do you pride yourself on delivering exceptional service to your clients?
- Are you spending more than 10 hours a week doing tasks that don’t create any new business?
- When you’re with family and friends, are you on the phone with clients?
- Do you wonder how agents who aren’t as professional, caring or experienced are earning more and seem to have more free time?
- Are you coachable?
If you answered yes to any of these questions, you should consider creating leverage in your business. Leverage is created by automating your systems and processes with great technology, then outsourcing or hiring people to do the tasks that free you up to focus on higher ROT (return on time) activities.
In a recent session with my coach when discussing some of the challenges of growth, I described my issues related to having more business than I can handle. His advice was simple and profound. He told me that I either have to hire people and train them to do the tasks I want done, or I have to outsource projects to companies that specialize in those activities. He also suggested that it’s okay to pay top dollar to outsource projects and get them done correctly, rather than find the cheapest solution for your problem.
Here are three simple things everyone can do to create leverage:
- Hire a part-time assistant to take care of managing transactions, marketing, and putting up signs and building flyers. Take the time to train them in AMP (Admin Mastery Program), as well.
- Identify a virtual assistant to manage transactions from contract to close. You should be willing to pay $250-$350 per transaction for this service.
- Find one or two agents in your office that would like to earn some extra money and hire them as showing assistants. Pay them $20-$25 per hour to show homes to clients you have buyer agreements with—and cap their pay at 20 hours. This will cost you $500 max per buyer, allowing you to keep the client, write the offer and negotiate the contract.
By choosing two of these items, you will find 20-30 hours a week that will allow you to focus on the more important things in your life, such as being present with family and friends, and, of course, prospecting for more listings. Imagine what your business and income would look like if you actually had time to focus on money-making activities every day.
Verl Workman is the founder and CEO of Workman Success Systems (385-282-7112), an international speaking, consulting and coaching company that specializes in performance coaching and building successful power agents and teams. Contact him at Verl@WorkmanSuccessSystems.com. For more information, please visit www.workmansuccesssystems.com.
For the latest real estate news and trends, bookmark RISMedia.com.
