This June, Inman’s editorial theme is Teams — we’re going to go deep on what it takes to grow your team amid this intense seller’s market. And if you’re not already a subscriber to our Teams Beat email newsletter, sent every Thursday, sign up now.
Real estate teams exist in many different forms. For example, there’s the three-person team (a primary agent, an administrative team member, and a buyer’s agent); mega teams of 50 agents and several staff members; and expansion teams, which are real estate teams that operate in multiple locations, often in various states.
And then, there are real estate platforms, which are real estate expansion teams that have moved beyond the real estate transaction to offer a suite of services for both agents and clients, often through new business divisions or complementary companies.
Teams are becoming the dominant force in the real estate industry. Why? Because they are often able to provide an elevated experience for their customers. Teams often provide additional services and value that individual agents cannot offer, not necessarily due to financial constraints but because they are only one person!
With a team of highly skilled and experienced agents and staff members, the primary agent or team owner can stay one step ahead of industry and market trends, economic implications for clients, technology tools and value-add services.
Now, every team looks a little different, but here are some positions you may see on a larger (1,000 transactions a year or more) team. If your team is smaller in transaction size or agent count, you can adjust and scale these positions to fit your team size.
What follows is simply an illustration of positions that might exist to serve a team. And if it were up to me, we’d start calling these “teams” companies because that is what they really are!
Leads the organization, recruits teams and agents, manages the brand, coaches CEOs, leads new business initiatives, drives production and agent-count goals. In addition, usually leads an expansion team or real estate platform of services.
Handles the day-to-day administrative and operational functions for the president or owner of the expansion team or real estate platform. May act as a personal assistant as well.
Oversees all corporate financials and individual team financials, manages human resources, coaches CEOs.
Director of expansion
Recruits new teams and agents, mentors and coaches CEOs, conducts trainings on behalf of the organization (internally and externally).
Director of industry and innovation
Analyzes economic and industry trends, creates new programs, leads new companywide initiatives, trains CEOs and agents.
Director of administration and operations
Recruits, hires, trains, and leads operations coordinators and holds them accountable for job performance. Creates news systems and processes for operations coordinators to streamline work and increase efficiencies.
Director of client care
Manages VIP client events, community engagement events, client reviews, client gifts, nurturing and assisting clients during and after the close of their transaction.
Director of agent services
Onboards agents and provides them with the necessary tools, training and resources to start building their careers. Agents are their customers.
Director of launch and technology
Onboards new teams and agents into the company. Researches and implements new lead generation and technology systems and tools.
Leads the marketing and lead generation strategy, including email marketing, social media marketing, websites, and marketing assets.
Manages and creates marketing asset requests for all teams and agents.
Assists CFO with bookkeeping, optimizing and running reports, managing payroll, and maintaining quality control for all tracking systems.
Director of agent productivity
Creates and leads agent productivity programs through group and one-on-one coaching.
Leads one or more real estate teams in a specific market(s).
Serves as listing manager, transaction coordinator, and on-the-ground support to team CEOs and agents. Liaison to company headquarters.
Listing manager (LM)
Provides marketing support and client assistance to all seller clients on behalf of an agent.
Transaction coordinator (TC)
Manages the administrative process for the real estate transaction for buyers and sellers once the properties go under contract. Provides client assistance throughout the transaction.
Works with seller clients to market their property, find buyers and negotiate a contract to sell the property.
Works with buyer clients to help them find a home and negotiate a contract to buy the property.
Works closely with a buyer’s agent or lead agent to schedule showings and show the properties to their clients.
Serves as a mentor and resource to newer agents to help them get into production quickly and navigate contracts and clients.
As you can see, there are a lot of career opportunities on a team. This industry continues to grow, and I don’t see it slowing down anytime soon. So if you are thinking about starting or growing your real estate team, I mean company, remember, it doesn’t happen overnight.
Slow is smooth, and smooth is fast. So take it one hire at a time. You might find that a team of eight works for you and your goals (it works for the Navy SEALs!). Or you may choose to continue to grow your team, merge with other teams, and then begin to add other divisions and companies to your platform.
The choice is up to you. And that is the beauty of real estate.
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Adam Hergenrother is the founder and CEO of Adam Hergenrother Companies