Module 1 ~ Lesson 6

Lesson 6: Agent Team Models

 

Partnerships

  • Two or more team leaders form a partnership
    • Spouses, family, related in some way
    • Individual agents join forces to build a team
  • Identify strengths and weaknesses – partnerships can balance
  • Leverage time and resources
  • Brings credibility and added value
  • Written partnership agreement
    • Outlines division of tasks/responsibilities
    • Addresses expenses and how covered by partners
      • Marketing LLC?
    • How commission is shared: all business vs. personal SOI
      • Dig in to the details here – second and third generation leads?
    • Dissolution clause that addresses database, any intellectual property, websites, software, open escrows and listings

Informal Team

  • Lead Agent gives referrals / leads to other agents
  • Written referral agreement
  • Referred agents conduct own business without sharing commissions with Lead Agent
  • Pros: minimal responsibility for managing a team for lead agent; less risk and commitment to resources
  • Cons: Less control over lead and priority referred agent gives this business vs. their own

Rainmaker Team

  • Team Leader(s) is in charge; primarily listing agent, rainmaker (lead generator).
  • Internet-based lead generation teams produce primarily buyer sales
  • Team associates also generate their own leads (Teach to fish)
  • Team size and structure varies based on goals and production of the Team Leader
  • Written agreements with Team Associates outlining commission sharing, termination policy, team procedures, expectations, termination policy.
  • It’s not always about the leads! Team associates want structure, security and to learn from the top producer.
  • Pros: Increase productivity; additional income; specialization; leverage time and resources with the right team members
  • Cons: Inevitable challenges that come with managing people; turnover; recruiting and retaining good agents

RainmakerTeam

Variations of the organization chart

  • Dual roles for key position
    • Team Manager is also the leads manager
    • Admin serves as TC, Marketing
    • Hire to additional positions when needed (set a revenue goal)
  • Define Your Listing Policy
    • Can Buyers Agents List?
    • Or are all listings referred to team leader
    • Are listings in Team Leaders name/MLS ID with TA listed as co-listing agent
    • Recommend Team Yard sign with optional sign rider
    • Do you want a listings specialist or showing agent?

Traditional Brokerage Style Team

  • Team Leader(s) has more of broker-owner/COO role. May list and sell but not primary role as in Rainmaker Team.
  • Team size and structure varies based on goals
  • Model focuses on hiring and training new or newer licensees
  • Must have a new agent training program and team manger(s) (10-15 agents to 1 manager ratio is recommended)
  • Must compete with traditional companies who focus on new agents with tools, resources, support and training.
  • Written agreements with Team Associates outlining commission sharing, termination policy, team procedures, expectations, termination policy.
  • It’s not always about the leads! New agents want structure, security, training, mentoring and leadership.
  • Pros: Higher team dollar generated initially with lower splits; Increase productivity; specialization; leverage time and resources with the right team members
  • Cons: Time and expense of training new agents; turnover of new licensees; recruiting and retaining good agents; retaining solid team managers; always recruiting; managing larger operation

 

TraditionalTeam

Expansion Team Model

  • Both the Rainmaker & Traditional Brokerage Style Model will work for expansion teams
  • Must have rock solid team operations manual and turnkey systems in place
  • Identify Team Manager first in new market
  • Team Leader and primary staff support the satellite teams (Home base operations)
  • Leverage technology, cloud-based operations
  • Ideally – stay within your company/franchise

Module 1 - Lesson 1

Introduction to Real Estate Team Building 

Module 1 - Lesson 2

Primary Focus Areas for Team Building

Module 1 - Lesson 3

The Four Archetypes and How They Fit

Module 1 - Lesson 4

Six Components of a Successful Business

Module 1 - Lesson 5

Two Critical Keys to Team Building

Module 1 - Lesson 6

Agent Team Models

Module 1 - Lesson 7

Know Your Company and State Requirements

Module 1 - Lesson 8

Let’s Get to Work!

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.

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