5 Things To Prioritize When Building Your Real Estate Team

Did you know 81% of agents believe that being part of a team makes them more likely to stay in the industry. So there’s no doubt the value being part of a team can have on agents. There’s a lot on a team leader’s shoulders but if you have a solid foundation for success, you’ll be able to charge into any challenges the industry throws at you. Here are 5 things to prioritize as you start building out your real estate team:

Team Culture

Fostering a positive and cohesive team culture is crucial for creating a team dedicated to a shared vision for success. Encouraging open communication and collaboration across the team is essential. This approach helps build a supportive and inclusive culture, which boosts morale and productivity, ultimately leading to better outcomes for everyone. One effective way to strengthen bonds and reinforce team values is by hosting various team-building activities and workshops. These activities can range from problem-solving exercises and creative workshops to social events, all designed to enhance trust, cooperation, and understanding among team members.

Providing Value to Your Team

It’s important to invest in your people! So take some inventory – what value are you currently providing your agents? Show your team that you’re committed to their professional development and business growth by offering training sessions, mentorship programs and lead generation programs. Remember, value is more than just a financial investment. Some agents my require more of your time, where others may require more resources. Each agent can be different so take note of what needs each has and do your best to ensure the value you do provide is well rounded. When agents feel supported and valued on a personal level, they're more likely to be engaged and motivated to succeed.

Effectively Communicate Goals and Vision

Clear communication of team goals and objectives is essential for alignment and success. Hold regular meetings to discuss priorities, challenges, and progress towards goals. Encourage two-way communication where team members can share ideas, provide feedback, and ask questions. Ensure that everyone understands their role in achieving team objectives and feels empowered to contribute to the team's success.

Every agent’s goals may look different from one another, but at the end of the day, you want team members who are aligned with your overall vision of the team! Team leaders should prioritize creating channels for regular communication, whether through team meetings, one-on-one check-ins, or digital platforms. They should also encourage feedback and be receptive to agents' ideas, concerns, and suggestions for improvement.

Building a Strong Support Team

A successful real estate team relies on efficient support staff and standardized operating procedures. Support staff can make up various roles including marketing roles, transaction coordinators, ISA’s and mentors/trainers. Having the right people in place, along with well-defined SOPs, ensures that the team can concentrate on revenue-generating activities while maintaining consistency and organization as the business grows. This strategic structure not only enhances productivity but also provides a solid foundation for scalable growth.

Having the Right Systems in Place

If you aim to accelerate your team’s productivity and grow into a highly successful team, evaluate your systems, team members, and leadership abilities. Consider the following questions: Are you delegating tasks and communicating effectively? Do you have the right systems in place that relieves mundane manual tasks? Regularly assessing and refining your systems guarantees that your team operates at its peak performance and remains adaptable in today's competitive market. Having an all-in-one system like Lofty makes evaluating easy and efficient. With features like custom team roles and lead routing, Lofty empowers you to tailor your team structure for maximum efficiency. Seamless team communications ensure that information flows smoothly between team members, fostering collaboration and synergy. Lofty was designed to optimize team performance with multi-channel communications, advanced lead routing, customizable roles, and agent accountability reporting.

By prioritizing team culture, providing value, fostering effective communication, building a strong support team, and evaluating your systems, you can set your team up to excel in today's competitive market. These strategies not only bolster efficiency but also nurture a supportive and productive environment where team members can thrive and achieve their goals. Interested in discovering how Lofty can empower you with these strategies and more? Explore how our platform today at lofty.com.