Failing our way to Success!

By
Real Estate Agent with Keller Williams Realty Partners, Inc.

Man, where do I start?  There is so much I want to discuss and get feedback from all you rainers. 

 Have you noticed that most real estate training is geared around prospecting?  I have been in this business now for about 7 years and I've gone to so many conferences, clinics, training, etc.  But who teaches you how to build your team?  I have had a team for 3+ years out of my professiona career and I have "failed my way to my successes" every step of the way. 

 Just recently I gained two open spots on my team...(did you notice the way I wrote that?)  One of the members was with me since the begining.  Since the moment I needed a buyer's agent and when she left I was hit hard personally.  We got along great but she always wanted more money but didn't want to do anything that warranted a raise.  So, in hindsite, these two girls leaving was the best thing that could of happened for my "team"  

 I have been given the opportunity to build the team I want with the policies that are effective.  It is so hard to change in a big way when you have people around that have been there from the begining.  They are used to times with less accountability but the more you do in business, the larger you become and the management becomes necessary.  So the work of the moment is "what do I need to do this time around to get better results"?

The questions I have are:

1.  What sort of accountability do you guys use to make sure everyone stays on track?

2.  What sort of incentives do you do to keep them motivated?

3.  Do you pay differently on listings/ buyers?

4.  Do you keep a "compelling scoreboard" for the team and if you do...what do you post on it?

5.  Do you have them sign an agreement with leads - non compete- etc?

Over the years I have changed my policies around, started new accountabilities, and put incentives in place but I'd love to get some feedback on your successes with "team building."

Let's Share!

Posted by

Stephanie E. Kulp

Team Leader of Kulp & Company Real Estate Group

Keller Williams Realty Partners, Inc.

11005 Metcalf Ave

Overland Park, Ks 66210

 

www.buyorselljohnsoncountyhomes.com

Stephanie@StephanieKulp.com 

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Ambassador
876,465
Larry Bettag
Larry Bettag - Cherry Creek Mortgage - Saint Charles, IL
Regional Vice-President
Steph...this is great.  I know that accountability is huge.  We're huge, huge, huge into coaching.  Life planning is huge, and with it come victories personally, familial, professionally, in health, and financially.  Its needed all the way across the board.  Need people who want to grow and be coached.  This is realy a great post Steph.
May 29, 2007 01:40 PM #1
Rainmaker
76,591
Jennifer Walker-Derby
Re/Max Westside - Marietta, GA
Real Estate Extraordinaire
Thanks for this topic, I am very interested in hearing the responses since I am thinking of expanding my "team" from just assistant and buyer's agent to more...
May 29, 2007 03:14 PM #2
Anonymous
Anonymous
Anonymous
The answer is KW University in Austin. Go take the MEGA agent training. Problem solved.
May 29, 2007 03:15 PM #3
Rainer
99,630
Kaushik Sirkar
Call Realty, Inc. - Chandler, AZ
Anxious to hear all the responses.  I'm an all to myself, but you never know what the future will hold!
May 29, 2007 03:23 PM #4
Rainmaker
336,214
Dena Stevens
Century 21 Canon Land & Investment - Canon City, CO
Putting The Real Into Realtor Since 2004
I have no idea how to help you, but this is well thought out. Thinking it out isn't something most people do in my opinion.
May 29, 2007 03:28 PM #5
Rainer
32,083
John Evarts
Classic Property Management of Santa Clarita - Santa Clarita, CA

Like the others, I am curious to see the responses. Here is my 2 cents:

We do rentals, so it's a little different. But, I think the concept would work.

My leasing agent (the person who shows the rentals and collects applications) is paid a salary. Then we have a goal of number of properties to rent. This month it is 15. A bonus kicks in at the tenth signed lease, and the goes up until 15. After 15, it "rolls over" to the next month. We set two months at a time. I time the pushes to coincide with the most active market times. I.E., we don't do this in Dec. I plan for Dec. instead of try to get everyone to produce in Dec., and set the goal high in June, that gets us the biggest "ROI" if you will.

May 29, 2007 04:14 PM #6
Rainer
106,064
Ricardo Bueno
Diverse Solutions - Los Angeles, CA

I would recommend reading the following book. I found it to be very resourceful.

http://activerain.com/blogsview/69451/Recommended-Reading-For-Owners

May 29, 2007 04:54 PM #7
Anonymous
Anonymous
Troy

I would like to first start by saying that if you ever get the chance, go to Gene Rivers training on "MREA Business Clinic". Its amazing and will answer many questions you have. You can visit Gene's website at www.ringtherivers.com Just look at the front page and you'll see what I mean. His team is comprised of 22 people.

 The way we hold our buyer agents accountable is fairly simple. If you know what a 4-1-1 is, thats all you need. What we do is bring our 4-1-1's to our team meeting. We ask everyone if they hit their numbers (calls, appts, contracts, etc) and if they didn't we asked them what they think they did wrong to not hit the numbers. It basicly starts a long discussion which is great and everyone can bounce back ideas on what works and what doesnt.

 We do infact have a 'scoreboard'. But, its really not. Its just a board that shows current contracts and listings and everything but it lets everyone know how great everyone is really doing.

 We do not have an agreement for leads except what is stated in their buyer/seller agent contract with the team. However, what we do with leads is assign them in Top Producer and our lead coordinator manages the leads to make sure everyone is working on them and puts them on 8x8's and touch 33's if needed.

 One inscentive we do for our buyer specialist and listing specialist is like this. If a buyers agent gets a contract on a listing that the team listed, they get a 5% bonus. If a listing specialist gets a contract on one of their listings, they get a 5% bonus.

 Hope this helps. Best of luck in everyones team building! It's great once you find the right people that love teams.

May 29, 2007 05:01 PM #8
Rainmaker
7,278
Stephanie E. Kulp
Keller Williams Realty Partners, Inc. - Overland Park, KS
Kansas City RE Broker

Troy,

Thank you so much!  We do the 4-1-1 the problem is with 10 of us, we have a hard time getting together even for our meetings.  I know we need to make it much more a priority.  I'm getting ready to start up a new board...I think that is huge.  I will go to that site you recommended. 

 Thanks!

May 29, 2007 05:42 PM #9
Rainmaker
134,027
Janie Coffey
One Sotheby's International Realty - Coral Gables, FL
GRI - Miami Real Estate

HI Stephanie

Our whole team is new, but based on the Millionaire Real Estate Agent book mentioned above.  We do have a scoreboard that tracks listings and sold and we use Symplifi software from Topaz software.  We are all licensees so everyone has "a piece of the pie" which is much more motivating than straight salary.  The key is to play to each team member's strengths and if you have someone not working and just can't find a new position for them, then to help them move on to a place they might work out better at.  Good luck! 

May 29, 2007 08:26 PM #10
Anonymous
Anonymous
Anonymous
I was in the process of building a team until the slowdown hit.  Now I'm not so sure if I'm ready or even if I want to.  I abhor the idea of babysitting someone and equally detest the idea of possibly hiring the wrong person.  Now that I've changed offices, I have a full-time licenses assistant available to me and she's awesome.  Think I'll keep it that way for awhile.
May 29, 2007 09:17 PM #11
Rainmaker
1,072,259
Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375
Flexit Realty "Flexible Home Selling Solutions" - Grand Rapids, MI
Real Estate Services You can Trust!

I owned my own company for years and trained people in all levels of the company.  I have taken the team building videos, seminars and classes specific to the team building task.  This is in a constant state of adjustment.  The key is create a list of rules and guidelines that will enhance your business.  Do job descriptions for each area, automate as much as possible.  I do use contracts and will adjust pay according to performance...then bonus with team results.  It takes some efforts up-front but the rewards are worth the effort.  When people leave you also re-evaluate like you have done and make the changes you have been meaning to do.  Good Luck. nice post.

May 30, 2007 08:54 AM #12
Rainmaker
297,623
Ryan Hukill - Edmond
ShowMeOKC Team of Paradigm AdvantEdge - Edmond, OK
Realtor
Steph, great to see you have the opportunity in front of you for improvement. If you've measured what's been working and not working of the past 3 years, you probably already know what changes you need to make. My biggest piece of advice is make sure every expectation is clearly spelled out. Every "worker" has to know what's expected in order to achieve. Setting up incentives is a great way to get them to over-achieve and BUILD your business. However, that only works on sales-minded types, so carefully choose your team members so that you have folks that are motivated to make more. Good luck!
May 30, 2007 12:35 PM #13
Rainmaker
297,623
Ryan Hukill - Edmond
ShowMeOKC Team of Paradigm AdvantEdge - Edmond, OK
Realtor
Steph, after reading your response above, I also wanted to mention that, although it's tough to get everyone together, you're going to have to "require" it of them. If they're part of the team, they must be expected to treat it as a job and make it top priority. Many people have the tendency to be "too nice" and let things like this slide, but it's imperative that everyone be involved in the strategizing of your business.
May 30, 2007 12:41 PM #14
Anonymous
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Rainmaker
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Stephanie E. Kulp

Kansas City RE Broker
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