If creating a real estate team is my objective for this year, the following post is a must-read.  Real estate pro, Raheel Shehzad, gives me a step-by-step plan for building a magnificent real estate team. He covers everything from hiring and training my real estate team to encourage the agents, setting expectations, lead generation, and much more.  

Additionally, I’ll also learn how to avoid the most usual mistakes many Realtors make when they build a real estate team.

MUST-ASK QUESTIONS BEFORE REAL ESTATE TEAM BUILDING

When I will plan to build a real estate team, there are four important questions to ask myself:

• What will be the purpose of the team?
• Who will the team leader?
• What makes him or her a good leader?
• When your will put your plan into action?

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WHY DO I WANT A REAL ESTATE TEAM?

There are many reasons I will need to create a real estate team. The core purpose of most agents is to sell a lot of houses. I will do this by building my client base and getting referrals from past clients and their circle of influence.

When my circle of influence is big enough, I will surely see many referrals and leads come in. The goal of few agents is to keep themselves busy. While many others want to expand and take advantage of all those leads. When I get busy with ample work, then the first hiring should be an assistant to assist with contracts and paperwork. After I get an assistant to assist with the busy work and we still can’t keep up, we will surely look to hire more agents.

I will make money off the agents they hire because they take a split of the agent’s commissions. Some lead agents will provide training, pay office bills, and offer other perks to get agents on their team. When I will be successful, starting a team is a great way to build off my success by adding agents and making money without selling more houses themselves.

BUILDING A TEAM WITH THE INTENTION TO SELL IT OUT LATER

There are few real estate brokers that develop their real estate team with the intention that they will sell it down the road.  If I also have a 5 or 10-year plan to build a real estate brand (and team) that I hope to sell to another broker, I will make sure the team name isn’t my personal name.  Being able to sell “The Illinois Realty Group” will be much easier than the “Raheel Shehzad Team.”

For example, if Kevin William purchased the team, it could be the “William Realty Team” for the first year. In the second year, call it the “Realty William Team” and then phase out the original owner’s name after a few decades have passed.

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What reasons do you have to build your real estate team?

Hope you enjoyed this wonderful read!  Raheel Shehzad will be hosting a weekly team building and coaching class from Illinois Brokers Academy, so if you’d like to attend the live class, please just drop us an email for instructions on how to access IBA.  

Also, if you’d like to learn more about Raheel Shehzad’s real estate strategies, please do visit us right away here.

Learn about how to reduce my real estate business expenses.

Happy Team Building!