Sherri Johnson explores the key essential behaviors of effective and thriving real estate teams and how teams can achieve 7-figure incomes while accelerating year-over-year growth.
Maybe you’re operating your business within your brokerage’s umbrella, co-branding with the broker for mutual success and growing your team at a nice, steady pace. Or, maybe you’re experiencing the struggles and setbacks that most teams do while trying to grow, and it feels like you’re taking 10 steps forward but 20 back. In both cases, you’ll want to adopt these 7 essential traits that highly performing teams live by to help propel their momentum, grow their teams and increase their productivity on a daily, weekly and monthly basis.
1. Operate Like a Company
Top-producing teams have an innovative, driven and results-oriented CEO as a team lead who’s directly responsible for running the team like a company. They have a profit and loss statement, a business plan, and goals and objectives that they must meet to grow and develop the team into a well-oiled machine. They identify ROI, plan lead generation and implement the right mix of technology and systems to drive the team.
2. Treat Culture as King
Culture makes or breaks a team’s success. High-performing mega teams are successful because they have a culture that starts with the team leader. Every member of the team is 100% on board and dedicated to working together for mutual success. The philosophy begins and ends with the team leader and is carried out with staff and other agents on the team. Good culture breeds a sense of teamwork, dedication, commitment and forward-thinking vision for all to achieve their goals.
3. Clearly Communicate Goals and Direction
Every member of a top-producing team knows their weekly numbers and goals as well as the overall team’s goals, which are shared with the entire team. The team leader is directly responsible for leading and directing efforts of the team. Weekly meetings help create the “flywheel” of activities that lead to high performance every week.
4. Install an Outstanding Support Staff
The success of a mega team is largely determined by the back-end support staff who manages all the daily tasks and details that help leverage the sales team’s time, resources and effectiveness. Hiring the right staff and delegating duties allows the team leader to lead while the staff supports everyone’s functions at high levels, thereby providing more sales hours for the sales team to sell and maximize opportunities.
5. Stay on Brand
Top teams have incredibly consistent marketing and branding. All team members use the same team email address, team logo, team tools and marketing that’s recognizable by the public. When done correctly, the team’s co-branding syncs with the brokerage and gains instant recognition. The team should have a comprehensive social media digital marketing plan, and all print and digital marketing materials must remain consistent and branded, including team and individual promotional videos.
6. Keep Compensation Competitive
To stay competitive, teams need to offer an attractive competitive compensation package to their agents and staff. Commission is only one form of compensation. Additional benefits may include a solid system of providing leads, social media support and technology.
7. Replicate What Works and Scale
When the team leader can reproduce the systems and service offerings by their team members consistently over time, they are able to scale their businesses. By having systems in place for everything from home buyers’ programs, sales and closing systems, to the way agents follow up with leads and past clients, team members will operate more efficiently and have more time to spend with new customers. Scaling your business means every client is serviced with the same 5-star service commitment that top teams market to their home buyers and sellers. Well-established systems allow team members to focus more time on sales and customer service while the agents manage the details.
If you’re struggling with accelerating your team’s effectiveness with the goal of growing your team into a mega team earning over 7 figures, look at your systems, staff and leadership skills. Ask these questions:
- Do you delegate, communicate and lead your team?
- Do you have systems for lead generation and customer follow-up through an effective CRM?
- Do you conduct a weekly team meeting that sets goals, drives business and brings organization and synergy to your team to create your team’s culture?
Once you begin to make a plan to implement the 7 essential traits outlined above, you can start scaling your business for success.