With the housing market showing significant improvement over the past few months, many Realtors are beginning to think about growth once again. One of the first strategies for success in the real estate industry, particularly, but not only, if you are the owner of an agency, is to build a strong sales force. The question now becomes, where do you begin?
You need to start with the end in mind. In other words, visualize what you want your team to look like. What types of personalities would you like to see working together? What skills would you like your team to bring to the table? What attributes matter the most to the vision of your end goal? Always remember that in building a sales force, perhaps more than anywhere else, the old adage about one rotten apple ruining the whole bag, definitely applies.
Now that you have a vision of the type of talent you are looking for, you need to attract them to your place of business. Create a business plan so that you are better able to draw the right people to you. If you don’t first sit down and think about whether you want a bunch of type A personalities – highly driven, successful , business-minded people, or a mixture of Type A’s with more laid back personalities – then you may find yourself in the midst of an unwanted power struggle at an inopportune time.
Next, you want to create a steady flow of applicants and resumes. Put feelers out for who may be looking for work – always start with personal referrals as they often have the best grasp of both your work style and the style of the person they are referring. This is the most important stage of the whole process because it will set up your future success. You don’t want to become impatient and hire, willy-nilly, anyone that seems qualified. If you do, you may rapidly find yourself with a steady stream of folks walking in and out of your office via a revolving door – not a good way to position yourself for success.
On your way to building a successful sales team, remember that the tortoise will beat the hare. This is not a race that will be won by the swiftest recruiter, but one that will be won by the most strategic recruiter. The competition for talented associates – particularly today – is fierce in both real estate and many other industries. Remember the barrier for entering the real estate business is low, so you need to make sure that you are selective when hiring.
Once you start to get a few good people pounding the streets and making the sales, you need to keep recruiting. If something worked well the first time, and you are pleased with the result, the best way to succeed is to do it again and again. It’s all the more attractive if you can do it in such a way that your team begins to emulate your behavior, and they begin to recruit for you.
Reward Effort
If you find your team successfully recruiting for you on a regular basis you must be sure to financially reward them. Regardless of whether their successful recruiting efforts come through direct communication to potential recruits, or through quality work that gains recognition from their peers, you must reward your team.
Remember, rewards don’t have to be overly elaborate. They don’t have to be paid vacations and automobiles – they can be trophies, cash bonuses, gift cards or just a well-timed “thank you.” An employee who feels valued works wonders for boosting morale, and those with increased self-esteem are much more likely to perform repetitive, successful behaviors.
Finally, remember to communicate. Create a vision board of where you are all going together, remind your team members of your goals regularly, and get them to buy in– don’t forget to ask their opinions on various topics and honestly listen to their answers. Good team members buy in to the end goal, and work with you to get there.
Cooperation among all members is key. Regularly remind the individuals that they are part of a team – give them something to strive for – and remind them that their voice and cooperation are needed and appreciated to make the business run smoothly.
Building a successful sales team starts in your mind – have a vision of where you are headed, bring people in that share that vision, and then work together to make it come true. Not everyone will work out immediately. Give people time to adjust and learn to work with you, but don’t hesitate to pitch the rotten apples to the curb if you made a recruitment mistake.
Finally, know that your team is only as strong as your weakest member, and as strong as your most loyal, committed and talented members. Good luck with growing your team.
Jim Lowenstern is CEO at Castles Unlimited in Newton.
