As you become successful and build your brand within the community, handing off parts of your business to assistants, buyers’ agents, or transaction coordinators can be a daunting task. The key is to build a strong teamwork culture to incorporate new talent effectively. Set aside time during the winter months to create a framework so you can be successful in the new year.
Building the Framework: Needs Assessment
Inman News reports that the “primary reason that teams fail is they lack a business plan.” Identify your priorities and set milestones to achieve that will kick off the need for you to hire which specific position.
Making the Right Hires
The time it takes for you to recruit, train, integrate into your culture, and build trust in a new employee can quickly add up. Estimates on the value lost when you have to replace an employee range from 16% to 500% of their annual salary. Therefore it’s crucial to be diligent in looking at how they will fit into your team culture and making sure their references check out.
Consult our Hiring the Best Real Estate Agents article for more details on how to maximize your chances in the hiring process.
Building a Connection
The key to retention is creating a connection with your hires. You’re being pulled a million ways, but you need to prioritize time with them. Forbes.com identified 7 key elements to that connection:
- Consciously reduce time spent on outside activities
- Be compulsive about scheduling time for your team
- Maintain a weekly “huddle meeting” with the entire team.
- Have monthly reviews with each team member.
- Recognize team members for individual efforts.
- Be real and authentic in every interaction.
The key to teamwork is communication and if that isn’t transparent, it can reduce trust and productivity. Find consistent platforms in which everyone can communicate and make sure they are comfortable in using it. At the minimum, you should consider a CRM, project management tool, and cloud storage solution.
CRM – Most brokerage/franchises will offer you a CRM which your assistant or transaction coordinator should have access to in order to add notes as you go. If you do not currently have one, Placester has an excellent article comparing the top CRMs for real estate, or you could consider a free one like HubSpot CRM.
Project Management System – Working as a team means you will at times have projects to achieve your group goals. Some of this may be accomplished within your CRM, but if not, consider a shared project management system like Trello or Asana. This makes it possible for you to check in on your projects from the road and provide feedback directly to team members.
Cloud Storage – You’re likely to have a lot of files to share between team members that won’t fit into an email. The easiest way to share them is through cloud storage options like Google Drive, Dropbox, Box, or Microsoft’s OneDrive. Pick one and implement it within the office, making sure everyone feels comfortable using it.