Real Estate Team Structure: How to Build a Real Estate Team
Being a real estate agent requires certain education, knowledge, expertise, and resources to succeed. Building a real estate team is one of the best ways to boost your potential as a real estate professional. Being surrounded by a trustworthy team will ensure you have highly skilled people working together to achieve common goals, such as selling homes, finding tenants for rental properties, and providing excellent customer service. In this post, we’ll cover all the steps you need to take to build a real estate team.
Real Estate Team Roles
How do real estate teams work? A few key positions play a pivotal role on a real estate team. While they may vary, this can usually consist of certain people who work at a brokerage, such as:
- Team leader
- Sales agents
- Marketing coordinators
- Transaction coordinators
- Administrative Staff
Look at these roles, their day-to-day duties and responsibilities, and how they fit into the team.
Team Leader
If you’re interested in building a real estate team, this will be your role! A real estate team leader is typically the person in charge. They are responsible for overseeing the team’s operations, setting goals, and ensuring the rest of the team works efficiently. Great team leaders are more than just a boss. They also work as mentors to their staff and are genuinely happy to help them with whatever they need to succeed.
Sales Agents
You may be more familiar with this position. Sales agents are the individuals who find, list, and sell properties or help facilitate purchasing one. These can also be made up of brokers who work at the firm. Some of their day-to-day duties include researching and garnering details about a client’s property to add to their listing, staying up-to-date with current market conditions, and preparing documents, such as representation and purchase contracts. Having responsible sales agents is crucial to your real estate team. They work directly with property owners or buyers and can be seen as the face of your team. Choose your sales agents wisely!
Marketing Coordinator
Some real estate brokerages might have their staff handle their marketing individually. Others, however, might invest in a marketing coordinator. A real estate marketing coordinator will have several duties, such as creating digital marketing content, writing copy for the real estate team’s website or social media, and strategizing and executing various marketing campaigns to help maximize the team’s brand.
Transaction Coordinator
We’ve already mentioned that sales agents might typically handle the paperwork of their real estate deals. Sometimes, a team leader might hire a transaction coordinator to handle these duties instead. The transaction coordinator will usually be in charge of the administrative work of the real estate transactions, such as gathering information, preparing and submitting business paperwork, and coordinating with other real estate professionals and clients. Hiring a transaction coordinator makes being a real estate agent a lot easier!
Administrative Staff
While the role title sounds like a transaction coordinator, administrative staff have an entirely different role. This can include positions such as secretaries or assistants that can help the team by answering office phone calls, returning emails, making copies of important documents, and managing schedules. While this role typically does not require a real estate license, they are essential to the real estate team.
Every role in a real estate team is critical to the team’s success. By working together, team members can leverage their strength and expertise to provide exceptional customer service to clients, close more deals, and, the best part, generate more revenue.
How to Build Your Team
The first step in starting a real estate team is building it. Assembling a solid real estate team starts with deciding what you want for your team. You can begin by identifying and defining your team’s mission, values, goals, and priorities. Having these spelled out clearly can help you align your team members’ efforts with your overall goals.
Your next step might be creating a hiring process. This can include deciding and defining the qualifications and experience required for each role, reviewing submitted resumes, conducting thorough interviews, and checking references. Hiring the right people will ensure you have strong members in your real estate team.
Last but certainly not least, you’ll want to set your expectations for your team members. This can include defining their roles and responsibilities, providing constructive feedback or performance reviews, and ensuring they have all the tools and resources needed to succeed.
Promoting a Positive Team Culture
A positive team culture is essential to the success of your real estate team. It fosters teamwork, collaboration, and growth, leading to a healthy and positive workplace environment, better customer service, higher productivity, and increased revenue.
To do your part in creating a positive team culture, you should:
- Promote open and transparent communication.
- Celebrate team successes.
- Incentivize good work.
- Provide opportunities for growth and development.
Creating and maintaining a positive culture requires commitment and consistency. You can achieve this through regular communications with your team members, hosting team-building activities, recognizing their accomplishments, and providing them with proper training and support.
Building a solid and reliable real estate team might seem like a lot of work, but it will be worth it in the long run. While you might want to handle everything yourself, building the right team means you can delegate tasks and trust that your team members will get the job done.
Whether you need continuing education to fulfill specific requirements or just starting your real estate journey, you can trust Agent Campus by 360training for your real estate education.
