The Best Approach For Building Real Estate Teams – Episode #191

The Best Approach For Building Real Estate Teams – Episode #191

EP 191 - The Best Approach For Building Real Estate Teams (1)

The 10th step of My “Agent Rise Steps” is the Team-Building Step and it’s all about building real estate teams that rock! How do you do it? One of the popular approaches recently has been what’s called “The Rainmaker” model. It’s a model a lot of people say is the best approach, a model that many people have subscribed to but that I don’t particularly like. Why? Because of the way it puts undue pressure on the team leader and obscures the identity of the individual real estate agents on the team.

What do I like instead? I like to think of it more as a coaching model, or a mentorship model. On this episode I’m going to explain why I think a coaching approach is a better approach, and how real estate agents can experience greater freedom within my model.

My concerns with the Rainmaker Model of building a real estate team

I’ve been there, friends. I’ve been a full-blown practitioner of what is known as the Rainmaker Model of team building in. Trying to pull it off, I was spending $3000/mo on advertising and lead generation. I was the sole person on the team responsible for getting those leads into the pipeline. I was single-handedly supporting Zillow with what I paid them – at least if felt that way.

And the way that translated into our team dynamic was anything but healthy. I was pressuring my team to convert the leads I provided. I was hounding them, riding them, not exactly being nice to them all the time, because I felt the work I was doing and the money I was spending was not being effectively utilized. Unhealthy, right?

Now I’m dealing with my team in an entirely different and healthier way – and I want to explain it to you so that YOU can do the same. It’s on this episode…

Are you running a business or building a job for yourself?

When it comes to building a real estate team, you have to answer a very basic question: Are you building a business or just creating a job for yourself? It may sound a bit snarky to ask it that way, but it really cuts to the heart of the matter. If you are content to be a solo agent and never build a team around you, you’re going to limit your potential and be solely responsible for everything that happens or doesn’t happen in your “business.” It’s a job, nothing more – and it can be a very un-fun way to live and work.

But if you build a team, you not only relieve the pressure and stress on yourself by sharing the responsibilities, you also leverage the combined efforts of your real estate team to do more business, which brings more success for you and everyone on your team. But be careful when it comes to how you GO ABOUT building that team. There are good ways and not so good ways to do it. On this episode, I want to outline what I see as the very best way to go about it – by building a team that agents LOVE to be a part of.

You might surprise yourself with how good of a real estate team you can build

When I speak with agents about building a team many of them are hesitant. They don’t see themselves as leaders, they don’t feel they can do everything required, and in the end, they are simply afraid of success. Yep, I’m talking about THAT again in this episode, because it’s a HUGE LIMITING factor for so many agents. Learn how to overcome fear of success and build a team that not only makes your business thrive but that also makes everyone more successful – even your clients.

Dream toward your own real estate team – I dare you!

Many real estate agents think in terms of “someday” when it comes to building a team around them. They think, “When I get to ___________ level of success, I’ll build out a great team.” The problem is that you can’t typically get to that level of success without building a real estate team. It simply isn’t possible for you to handle the amount of work required to get there. You need help.

So the time to build a team is now. Think it through, you need it and deep down you likely want it as well. Start dreaming about what that team will be like, how you want the culture to be, and what you’ll do to support and empower your team to be successful as individuals. On this episode, I tell you some of the pieces you want to consider and why you might benefit from getting coaching yourself – to help you build your team the right way.

Outline of this great episode

  • [2:54] Building real estate teams without following the rainmaker model
  • [8:54] The primary asset of my team-building model is leadership and coaching
  • [13:33] Why you should believe that you CAN build a real estate team
  • [15:51] Always being a solo agent should NOT be what you settle for
  • [17:30] The question potential team members should ask

Recommended Resources

Resources and Links mentioned in this episode

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