Simply incorporating the showing partner model into a real estate team structure results in retaining top-performing agents, attracting more new agents, and improving business profitability.
In the real estate industry, recruiting is an ongoing process, and teams are constantly looking for ways to improve their businesses by recruiting the right people, retaining the best performers, and running their businesses as efficiently as possible.
As a result of a seller-centric market experience, team leaders had to become creative in the way they structured their teams and have found new ways to utilize the talents of their agents for greater efficiency.
Knowing What Type of Team Leader You Want to Be
Your real estate team can be structured in several ways. Choosing the best real estate team model depends on your real estate experience, preferences, and goals. These are the three top options to consider:
- Mentor / Mentee Model: You assemble a team of talented individuals and train them. Within a certain period, they graduate from “mentee” to “downline” status or take on mentees on their own. (The model is ideal for educators and those who wish to generate passive income through their downline.)
- Team Lead Model: The personal brand of the team leader is central to this traditional real estate model. (This model works well for agents who already have a personal brand or who have concrete plans to develop one.)
- Lead Team Model: Instead of focusing on the leader, this model aims to generate leads from within. There’s no limit to how much you can grow, despite higher costs. (If you are excited about lead generation and marketing, this is probably the best model for you.)
Finding the Right Executive Assistant
For an agency to be successful, its executive assistants must be top-notch. As part of their duties, they handle all administrative tasks that a principal would normally be forced to do, allowing them to focus on more important, revenue-generating activities. Due to the fast pace of the real estate industry, these assistants need to pay close attention to detail and have excellent time-management skills.
Here are some questions you can ask to assess whether candidates will be able to provide quality work:
- Are you experienced and knowledgeable in providing administrative support to real estate executives?
- How well do you manage your time?
- What is the best way for senior business leaders, internal departments, and clients to communicate both verbally and in writing?
- When it comes to updating and maintaining information, what organizational techniques do you use?
- How did you demonstrate your high level of accuracy and attention to detail?
- Can you tell me about the tools and systems you are familiar with?
Hiring a Buyer’s Agent
Real estate professionals who represent buyers guide them through the purchasing process. Buyer’s agents have a legal obligation to protect the interests of the buyer and ensure that the buyer gets the best deal when purchasing real estate. The majority of real estate agents work as either buyers’ agents or listing agents, depending on the specifics of the transaction.
