As an industry, we get paid to get things done. It doesn’t matter how hard we work or how brilliant our ideas are. If the transaction doesn’t close, we don’t get paid. It’s both the terrifying reality and the beauty of real estate sales.
There are three types of people who get into this business. The first are those who will succeed despite any obstacles. The second will fail regardless of how much help, training, and mentoring they get. They don’t have the fortitude and grit it takes to jump headlong into a full commission environment. The third, and the group most of your team members fall into, land somewhere on the spectrum in between the first two.
When teams form, it is inevitably with the first type at the helm. They just succeed. Rarely do they know-how, they are just naturally bent to win and find the right combination for them to do so. The challenge comes when they create a team and expect others to be just like them. Leadership comes in many forms, but a consistent theme and struggle is getting those on their team to increase transaction volume and perform at a greater capacity.
There are four secrets to execution with your team.
1) Focus each person on only two or three leading indicators.
At the end of the day, in the real estate business, our success is measured in dollars. The challenge of using revenue as an indicator is that it’s a trailing indicator. Revenue is the result of all of the other factors coming together. Focus each member of the team’s attention where most appropriate to their position within your business. An example of this for a buyer’s agent might be real estate conversations had or open houses held. For an admin person, it might be files checked or personal interactions with clients, team members or outside agents.
2) Take care of your people. If someone is off their game, it’s usually for personal reasons. Remember, each person on your team has a story, a history, and a future. They have a unique set of strengths and qualities that they bring to the team. Loyalty is built when they know you always put the person before the profit. As a general rule, the better you take care of them, the better they will take care of your team’s clients.
3) Have them use a one-page dashboard. Keep it simple and concentrated on their assigned leading indicators. It should be a sheet they can carry around with them. It must be a place where they can track their daily activity. If you want a sample, shoot us a message and we will be happy to send you one.
4) Create an environment of group accountability. Schedule a meeting at least weekly with everyone on your team. As part of the meeting, have each person share their dashboard and goal for the upcoming week. Celebrate the successes and use the shortfalls as teaching moments. The important thing is everyone is accountable, including you as the team leader.
With these four simple secrets, you have the formula to create an environment for your agents to thrive, while achieving your business goals. As a team, every member needs to be focused on performance, both individually and collectively. After all, as an industry, we only get paid when we get things done.