For the past 22 years I've been accumulating experience not just by producing over 100 transactions a year but by helping others do the same. As a real estate coach I've been working closely with some very successful real estate agents who started from scratch and other who hired me to help them move into their next level (from 25+ deals) and build a real estate team.
Are you contemplating building a real estate team?
Before you jump into action, I highly recommend you to watch the video 👆👆👆 and get some of the questions answered. In this video I've been sharing some knowledge and tips about what needs to take place BEFORE you actually begin to build a team.
If you are already in the midst of building a team and you are stuck or struggling with it, I invite you as well to watch the step by step guide to building a real estate team, shared in this video. Building a successful team is just as hard as building any other business, but the rewards, oh gosh, the rewards can be freaking awesome! I mean, we are talking about the ability to make 7 figures income! and then being able to continue to earn 7 figures even after retirement. That is the POWER of building a successful real estate team.
How long does it take to build a team (as explained in the video) and close 100+ transactions a year?
Well, the obvious answer is: It depends! it depends on which real estate agent are we talking about, who is on your team, how successful are you by yourself (prior to building the team), how good are you at attracting the right people to your team and retaining them and keeping them on the team. Building a successful team is hard work and you should be ready to pour yourself into it for as long as it takes.
So how long does it take? Normally, if you follow my plan, with accountability, hire me as a coach, follow everything we talk about, do the homework, bring in the sweat equity, invest yourself in the process, don't quit when the going is hard, don't seek instant gratification, stay omg course, invest back into your business, it will take you about 3 years to do this, if you're engaged full time, 6 days a week, minimum 8 hours a day, delegating, finding the right people. investing in your people, lead generating, customer service, building systems, managing, etc.
Do you have what it takes to build a successful team?
Again, I think you should watch the video to get a better point of view. Successful entrepreneurs have a high D on the DISC profile. I recommend you to take the DISC assessment (Tony Robbins Free Disc Test) and find out your profile. Whichever your profile is, you need to be self motivated and self driven, you also need to have leadership attributes and stop seeking approval. Leaders are perfectly fine when others don't approve of them, as a matter of fact they thrive on that, when others say: "You can't do that!", a driver will answer: "Watch me!". So a lot of it depends on your personality style, who you choose to be when the going is hard, how versatile you are, how organized, how consistent and persistent you are, being comfortable outside your comfort zone and LEARNING, constantly learning and being COACHABLE.
Who should not focus on building a team?
I answered this question in detail when I recorded the video 👆. In general, a real estate agent who's not ready to scale up their business, a Realtor who seek to grow production from 5 deals to 20+ deals, should not build a team before they can close ON THEIR OWN at least 25 transactions a year (consistently). Many new agents who join our industry buying leads on Zillow or other platforms thinking: "I can buy a lot more leads, hire some agents to work the leads and own a team". That though is naive (at best). A solo agent without administrative support, without systems, tools, processes, without a transaction coordinator and a full time assistant to deal with the loads of paperwork and customer service created with volume could never succeed just by buying leads and distributing them to agents. There are "teams" who fall in this category, but they are NOT what I call a successful team, and I am sure that their customers aren't very happy. It's a recipe for a disaster and it's not a business I want to own. Most agents can't even deal with the work load of their own 10 deals a year, let alone having other agents on the "team". If you are serious about owning a team, a real team, like I explained in the video, which will give you a movie star lifestyle without the GRIND, let's talk! The sooner you realize that you won't be able to do it by yourself, the quicker you move past this procrastination.
Talk soon (I hope) 😃✅