When Is It Time For a Team?
What? Are you nuts? Hire a team – in this economy?
Hold on folks. Let me explain. And let me start by saying it just might be the smartest thing you could do, especially now.
I’m a strong believer that any time is a good time for a team. But in a soft economy, it makes even more sense for a Realtor to consider a team.
Why? Here are four good reasons:
- Two heads are better than one.No matter how you slice it, two (or more) brains working on a problem, or doing any task for that matter, are going to give you better results than a single person. It’s a proven fact. In his book, “The Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Business, Economies, Societies and Nations,” James Surowiecki gives numerous case studies and examples to illustrate his argument that groups almost always produce superior decisions to individuals.
- The picking is particularly good right now.When unemployment is high, plenty of worthy, hard-working people are in the pool waiting for an opportunity to prove themselves.
- A team helps your focus on what you should be focusing on. If you don’t have a team, I can bet one thing for sure, you’re doing work that doesn’t produce money. Realtors do just four types of work that produce income: They list, prospect, sell and negotiate. Anything else is a not a wise use of your time. For example, I’ve looked back over the last eight years and found that my average client is worth $1,868 an hour. But I know for a fact that some Realtors (those without teams in particular) are doing work that’s worth just $10 an hour (filing, answering the phone, etc.) What’s your time worth?
- A team can give you a life. I can’t count the number of my clients who’ve told me they’re thankful for me helping them get their life back. To return to being a father, a mother, a friend. To having something in their life besides just work. I tell my clients up front, it’s vital that they put themselves first – before the business. Anything else simply doesn’t make sense. When you put business first, you’re going to be off balance and not perform at your peak. A team gives you that balance. Believe me; I see it day in and day out with my clients. And they see it, too.
So in closing, I’m not suggesting you go out and hire 10 or 20 people. Start small, very small. For starters, just consider a part-time assistant. See how that works for you. Then consider making the assistant full-time. Then maybe add a buyers’ agent.
That’s how I started with one of my clients: Lisa Burridge in Wyoming. When we began working together, it was just her. We discussed the idea of building a team, albeit slowly. First, we started with a client care assistant. Then, she moved to a buyers’ agent. Today she’s the top agent in her market.
Lisa is especially glad she hired a buyers’ agent and tells me it has made a huge difference in her business. If you’d like, e-mail me at firstname.lastname@example.org I’ll send you an article I wrote called “When and how to hire a buyers’ agent” free of charge.
And let me hear from you anyway. What’s going on in your world with teams and team development? Do you have any examples of how you’ve developed a team? What do you find most helpful about having a team? Please share any comments or questions you have about this article. Send me an e-mail at email@example.com.
Bob Corcoran is a nationally recognized speaker and author who is founder and president of Corcoran Consulting Inc. (CorcoranCoaching.com, 800-957-8353), an international consulting and coaching company that specializes in performance coaching and the implementation of sound business systems into the residential or commercial broker or agent’s existing practice.
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