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5 principles for building a successful real estate team

By September 14, 2017 No Comments
5 principles for building a successful real estate team

Every successful real estate agent eventually starts hitting his or her head on the ceiling and must make choices about what to do next: expand or burn out on doing the same thing over and over for the same paycheck.

Once my business hit a ceiling, it was clear I had to make a change. And I can tell you that going from an individual agent to building a team can be a daunting process.

However, with the right principles in place (the five listed below), you will find that you can create a strong culture, an amazing work environment and increased productivity and profits.

Have a vision

A clear vision helps you know what you need to do daily to keep your momentum toward your goal.

Successful teams know where they are going. Leaders have a clear vision of the future. This means the team knows with clarity the visionary numbers including transaction volume and where they will be in the next year, three years, five years and in the future.

This type of clear vision creates a team dynamic and a mindset different from your competition.

It will help avoid distractions, correct your course quickly and maintain focus toward your overall goal.

Know your purpose

Is your only objective to close 150 deals this year, or is it to help 150 families become homeowners?

Is your goal to make $200,000 income or provide a world-class, customer-centric experience?

Are you selling, or are you serving?

Making money as well as having a deep purpose that impacts your community, agents’ lives and the industry is a compelling reason to work hard and keep your team going long term.

Knowing why you’re doing what you’re doing will be the backbone to having a successful team as well as making changes in our industry.

When you know your purpose, you’ll find it’s easier to overcome obstacles, market changes and challenges that your team will run into.

You’ll also find that your interactions with your clients will be more compelling, your conversations more genuine and your connections more meaningful.

Constantly strive to improve

Teams are always making themselves better. As a leader, I have to be committed to constantly learning, growing and improving.

We need to always be getting better because we will only be able to mentor and teach to what we know.

Commit to getting better, staying ahead and remaining relevant. Learning and growing must be a part of who you are and what your team represents.

If you are not growing, then there is no motivation for those around you to grow either. Be committed and intentional about your continual improvement.

Be willing to adjust and change

What got you here will not get you there. As you grow, the demands of the business will change. Your interactions with clients, staff and agents will change.

In addition, market shifts will require change in your business. It will take consistent discipline to stay on course and continuously do the things that made you successful.

Be smart in running your business and adapting to change.

For example, it’s easy to rely on lead sources and referrals and forget that prospecting is how you built your business.

Great team leaders continue to make adjustments and refine their business, skills and systems.

Keep a keen eye on the market and changing circumstances. Your leadership will be necessary to help team members adjust. You will need to be accustomed to adapting and changing if you want to continue to evolve and grow your business.

Maintain a winning mentality

When anyone asks how the team is doing, my response is always the same: “Were content, not satisfied.”

Whether you’re the market leader or well on your way, there is always room for improvement.

Vince Lombardi said, “Winning is not everything, but wanting to win is.”

Leaders need to create an inspiring environment for their team and foster a culture of winning.

Surrounding your team with positive can-do attitude and focus drives confidence, productivity and a positive mindset.

When you are obsessed with being the best, your team will have a competitive advantage. This type of push to achieve greatness will help them avoid distractions, encourage productivity and gain momentum. Anytime they feel like they have done enough, they’ll know there is more to achieve.

Implementing these principles will help you create a positive work environment. It will be inspiring to you and to those who work with you.

You will see your business shift, your market share change and your impact on your community enhanced.

Justin Udy is the team leader of Justin Udy & Team Real Estate, Century 21 Everest in the Greater Salt Lake Area. Follow him on Twitter or connect with him on LinkedIn.

Email Justin Udy

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