Updated: May 1
How often do you assume that if you keep on selling, everything will work out?
For most people running a real estate business, or team, this assumption is an everyday notion! The hard part comes when you plug into the experience of the long and even the end game of your business.
After coaching over 17,000 hours personally for a decade, while overseeing two teams, working with hundreds of top teams that we have built into the Top 1% of production nationally for their brand, and supporting thousands of agents associated with those teams, along with pro-team brokerages, I can tell you in full confidence that it does not all work out magically.
We have helped build teams from scratch, and committed more time to specifically working with teams than any other company in Canada in the Real Estate Industry.
I ran the first team specific coaching company in Canada for Real Estate, and we know the challenges that face teams, and small business models first hand.
For teams, the reality of struggling with profits during growth phases is real, and it is magnified as you start to transition away from selling yourself, or away from leading your team. That is, unless you have a strong strategic plan.
A strong strategic model will allow you to :
Reinvest in the business to offer the top client experience to the public
Reinvest in your business platform to offer more to the agents on your team than they could achieve on their own
Allow yourself a fair income as a Team Leader with a vested interest in the Team’s growth, versus feeling forced to focus on your production for income
Maximize your platform by allowing others to prosper with thriving careers off of what you have built
Assess your business as someone operating in the business with clients, someone leading the business with agents and staff, and finally as an owner for profits
Know your profit margin AFTER you are paid for sales and leading the team
Do you want to have a future where you have built more freedom, a better lifestyle, growth, and profits?
You could try to achieve your goals on your own, but what happens three years in when you’re burnt out without the time, money, and/or energy to build? All because you are locked into your current production level and the bills, responsibilities, and lifestyle associated with it.
How will it feel to be so busy you can’t build a team which would deliver more time, money, and freedom than you could ever create on your own?
What happens when teams leveraging the top abilities of multiple specialists in-house create a new playing field which you do not have the resources to compete with?
Who is standing with you to ensure you and your business are protected?
The brokerage model is highly focused on volume to ensure profits. Teams are a different animal, offering an intense high performance environment. Team and brokerage models can not be directly compared, and the advice of a broker, is very different from advice from a team network who have worked with hundreds of Top 1% performing teams and the thousands of agents associated with them.
One day you may not want to sell. Are you okay with a model that locks you into multiple jobs, burning out, and frustration, all while your team members thrive and assume you are ‘rich’?
In the end if the business is weak we are failing at client experience, retention, and income for everyone. Making everyone happy based on their perception of how a team should be run will exhaust you, and make you broke.
No wonder 80% of teams fail. They were not set up with a chance of success in the first place.
Listen, we all have different hats and different strengths. Ensure you have someone in your corner whose expertise is the start, middle, and end game for top performing profitable team structures. They see the field with a unique playbook, and where the strengths should be situated on the team, and what systems will power them for optimal performance.
To get the support and help that you need, learn more about Kathleen Black Coaching and Consulting. We look forward to hearing from you! https://kathleenspeaks.com/.
SOURCE: Kathleen Black Coaching & Consulting Inc. 905-725-6224 / Toll Free 1-844-866-5222