Module 1 ~ Lesson 1
Lesson 1: Introduction to Real Estate Team Building
How Do You Answer This Question? What do you do for a living?
Mindset Shift to…. I Own a Real Estate Business!
When you truly internalize this principle, you will experience a shift in the way you operate. It is more than a mindset shift. You will become that business owner who thinks and operates from a different level. Most real estate agents operate in a sales only mode where the business is generally running them.
Make the shift NOW.
Make this one of your daily affirmations:
I Own A (Successful, Profitable) Real Estate Business
- More revenue and profitability
- More time – ability to delegate tasks and specialize
- Convert more buyer leads into closed transactions
- Higher rankings, market share
- Enhance Credibility
- Build a more valuable asset and eventual exit strategy
- Expansion of satellite offices in other markets
- Frustrations if you build a team before you are ready
- Are you a manager? Trainer? Mentor?
- People drama
- Finding the right fit
- You have your core real estate systems in place
- Your brand & value proposition is clear
- For clients
- For agents (WIIFM)
- Adequate resources
- Structure & organization
Begin with the End in Mind: Build a Saleable Asset & Create Your Exit Strategy
What is your ultimate outcome – the end game for your real estate business? What is your exit strategy?
Run it like a Business
Are you running a real estate business, or is IT running you?
Running it like a business means you have made that mindset and operational shift to working and thinking as a small business owner. It means you have effective and efficient business and real estate systems in place to support your company.
Brokerage within Brokerage Model
Enjoy the many benefits that come with building your team within a company that supports team building:
- Focus on your own and the team’s production
- Let the brokerage handle all the other details, risk, liabilities, and requirements for running a brokerage
- Regulatory compliance
- Commission handling procedures
- Facilities management and overhead
- Dealing with complaints, disputes, litigation
If you are a small broker and want to stay that way:
- The RETB systems will support you in building your team and/or brokerage
- Lead by Example – attract, coach and support other agents who want to build a team
Real Estate Team Builder Principle #4
Concept of Working “ON” your business while working “IN” your business
Key points and takeaways:
- Think Franchise – Duplicatable Systems
- Expansion / satellite teams in other markets
- Building a business takes three skill sets:
- The entrepreneur – vision
- The manager – order & systems
- The technician – the output
- Three phases for businesses are generally:
If you have not already done so, go to the Module 1 Overview page and download the Workbook, Slide Decks, and all related Documents for this module.