5 ways to have a healthy Real Estate team.

August 30, 2018

 

What is it like to be in on healthy team – one which encourages you, helps you achieve your goal, gives you a great environment and makes you your better self – Our 5 ways formula will surely help you make your team a healthy one! 

 

This is obviously directed to team leaders but this is also a must read for team members, because after all you have to nurture your leader by giving tips and recommendations. So, read it from your perspective and extract what’s in there for you:

 

    • Delegate and Show Delegation

    Delegation is actually the thing that makes a group of people a team. But it's more important to show how a task is delegated to different members so everyone may know who are one’s subordinates, colleagues or seniors. The appropriate way to show that is to maintain two charts; Current Organizational Chart and Visionary Organizational Chart. These charts must be displayed where they are visible to everyone so they may consult at any time.

     

    The Current Organizational Chart shows the existing structure of the organization and the hierarchy of every branch. This way everyone knows who is answerable to whom, and also who they have to consult in case of any confusion.

     

    The Visionary Organizational Chart will display the biggest dream you have for your organization and the ultimate structure of your organization as you see it. So that everyone can set goals for themselves, collectively setting yours as the target.

    • SOP – Standard Operating Procedure

    SOP is to organization as mitochondria is to cell; it is the power house of your business. It compiles step-by-step instructions to complex tasks thus providing the much-needed energy to your mechanisms. The people you surround yourself with must know how you do a task down to the smallest details, whether it is getting a paycheck or arranging an Open House. The point is: Pass Your Skills to The People You Have Surrounded Yourself With!

     

    Here’s a tip: Make a video of yourself explaining some daily complex task and have it go to your SOP (may be in google drive or private YouTube channel) for everyone to refer to anytime.

    • GCI – The Actual Focus?

    The obvious acronym “Gross Commission Income” is certainly important but kind of old-school; try “Growth, Culture and Innovation.” If you find yourself doing tasks that don’t relate to these three, take a step back and think that maybe you have to improve your delegating strategy and to let go of things. Everything you do as a team leader must focus on one of these three things!

     

    Growth – Extension, Recruiting, Augmentation! Not only in terms of people; improving your processes, increasing your customer base or anything related to your business.

     

    Culture – what kind of people want to join your team, what they thought it will be like and what they wanted to be fit into? Improve your business’s outgoing impression.

     

    Innovation – Bring novelty with use of new tools and technology, have a mentor or coach to make your business better, come up with new ideas every day!

    • Data Driven Decisions

    Decisions are at the heart of every business, rather everyone’s life. How you make decisions is extremely important because they are literal forks in the road with dramatic impact on results, costs, time, feelings, and relationships. There should be a comprehensible mechanism in your organization to make decisions based only on data; and that should be known to everybody. 

     

    Whether it is “to keep investing in a certain place or not” or “to carry on with a client or could it be time to call it off”, establish your decisions on profit and loss figures – cost per lead – cost per appointment – cost per closing. The tip here is to make a process so the whole team understands that this is the minimum standard they have to meet to be on your team and that for a client and such for a sale to be made. 

    • Consultation Among Team Members

    Members add up to make organizations and their goals add up to make organization’s goals. Next time when strategizing goals try asking your team members “How many sales you want to make this month? And why do you think it is important?” rather than “We have to increase our sales to this amount this month.”  If the total sales of all members don’t add up to your target, decide whether it’s appropriate to hire another member to achieve it or to encourage an existing one to do more! 

     

    The more you act upon these five things, the more of a healthy team yours is! Start from what you think your team needs the most and hopefully success and a rewarding sense of teamwork will follow.

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    Alex Johnson

    Chattanooga, TN

    What a great team. So helpful, professional, and friendly.​ 

    I'll be recommending the Edrington Team to everyone I know!​

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