How to Find the Right Team Structure in Real Estate

March 6, 2016

Esther Lee

Has your income started to plateau? Have you turned down business or neglected leads due to lack of time? Are you feeling tired, burnt out, and spread too thin? Are your business operations beginning to crack?

According to Tom Ferry, these are indicators that you should consider growing a team. While there is more than one way to structure a real estate team, these 5 steps can help you navigate the process.

Once you know you want to build a team, you must map out your team structure. This means deciding what tasks to delegate and to whom, how many people to add to your team and at what intervals.

Make sure to plan for long-term growth rather than simply filling an immediate void. What you need to grow your business now may change down the line. Taking the time now to plan for the future may mean the difference between a simple pivot in your business plan and having to completely reinvent the wheel.

In a study conducted by CareerBuilder, 41% of companies said that a bad hire in the last year has cost them at least $25,000. Gallup found that companies fail to choose the candidate with the right talent for the job 82% of the time.

You can’t build a strong team around the wrong people. Not only will it cost you time and money to replace a bad hire, keeping them will cost more in lost productivity and negative impact on team morale. Your ability to select the right team structure and then the right team members will impact your success and ROI. Take your time to hire right the first time around.

A scientific research study conducted by Innermetrix concluded that the more specialized the tasks and responsibilities of individual persons, the greater their results in performance and success.

The only way to truly grow your business is to delegate as much as possible so you can focus on tasks that generate business. Think about how you want to structure your team, and divide responsibilities into specialized roles that cater to each team member’s strengths.

Once you have a growing team, you need to find a way for everyone to communicate and share information quickly and easily. A CRM with the right tools can help facilitate teamwork and collaboration to maximize productivity.

What’s the point of growing your team and painstakingly planning its structure if you don’t keep track of the results? A CRM like BoomTown can give you an overview of your entire business so you can track your team’s progress to align your goals and make sure you’re still on the right path for success.

Where To Start

There are several ways to structure a real estate team, and what’s right for you may not be right for someone else. While you have the freedom and flexibility to hire according to your own particular business needs, below are some roles that many coaches and top producers suggest as your first few hires: