Agent Academy: How I Built My Real Estate Team
On this episode of Agent Academy, we discuss the most effective and best value proposition of a team. Most importantly though- What should not be your value proposition to get there?
If you are building a team, have a team, or thinking about one, and you want it to be sustainable!
One that lasts and that you don’t have to constantly rebuild.
There is a critical role that I will give you right now. If you follow that you will be on a much more sustainable path.
How do I know this?
I broke this role when I first built my team, including the second version of my team until I finally learned.
Here it is. If the value proposition of your team is based on splits or leads. you are going to experience turnover at a very high level.
I have built a team that sold 160 million dollars of Real Estate last year. In order to get there what we have is the productive agents. Some of them have been with me up towards the 4 years.
How do we do it?
The way you get there is by not doing what everybody else does!
Which, is really the theme of most things that we do in our business in order to differentiate ourselves from the crowd.
How do most teams get developed?
They are developed on the value proposition of leads and/or splits.
- Leads
Everyone figures out how to develop leads and that’s how value propositions are gone. It is not much of a secret anymore. It used to be maybe, 10-15 years ago. Eventually, people realize they can hold up the houses and get leads. I can buy website leads over here, some leads over there. I can spend money on paper click. I can run Facebook Ads.
- Splits
That one is simple. There are always better splits somewhere else. That’s why even among agents similar conversation are commission rate. If you are competing on lowest commission there’s going to be someone else with lower commission yet. There’s always someone cheaper.
So, if that’s your value proposition- BOOM! They are gone. You have ever revolving door that most teams experience.
How can you build the life for your own agents that is big enough to fulfill their goals, dreams and the way they are trying to get?
If you have an understanding of the life your agents want and the realistic view of the world that you can actually create for them then they are not going anywhere.
Here’s what it looks like:
If you have ever seen the Truman show which is a great movie with Jim Carrey.
If you didn’t watch it the basic premise of it was that he was living in a fake fantasy land. He thought he was living in the real world but it was a giant enormous movie set where he couldn’t see the boundaries, the roofs. But towards the end of the movie, he starts figuring it all out. What happens is that he reaches up finally after going on some journey up. It was towards the side because he had reached the edge. And what happened? He realized that there were no more journeys for him and the movie comes to an end.
Same thing!
You have the world that you have created. Your agents start to grow and push on that edge, eventually jumping out. So, what’s your job?
Your job is to find out what the realistic opportunity is.
When you are recruiting someone and it turns out that they want to be out of the circle you need to understand one of the two things:
- They are either going to eventually leave.
- Or your job is to continue to grow the opportunity, grow your career paths within your business so they will stay because you actually have enough capacity for them.
On our team, we have world class tools. We have an awesome operations team, listing managers, transactions managers, operations assistants, inside sales and showing agents etc.
I get it. You can’t just jump to that. You can’t get there today, right now on one shot. I didn’t either.
We always want to build with the end in mind.
That is one of the core tenets of building with the end in mind.
If you have been through our CEO Agents course that is one of the core tenets of building with the end in mind.
If you can build the awesome operations team which of course starts with one person and you scale it.
If you have leverage for your agents that they would have to spend the fortune to pay for and a ton of time stumbling around till they finally got there.
Now, they see the real value that they can’t just jump ship and go duplicate somewhere else having the higher splits or also promises leads.
Now you have retention.
It is hard for human beings to go backward i.e. having a Cadillac to having a Pinto.
So, build the Cadillac of systems for them.
When your tools are world-class, you have the best CRM, the best dialers, the best tools, it will be very difficult for them to want to go back.
Now I have your attention.
Think through the value proposition of your team if you are looking for a long-term sustainable business and team members that will be growing with you for years to come.
Take your business to the next level with Dan’s Millionaire Farming Protocol!
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