How to Compensate & Structure Real Estate Teams
Wondering how to structure real estate teams? Not sure how to split up commission? We discuss these questions and give you a helpful guide.
Determining how to structure real estate teams is a tricky process. Because no situation is the same, giving blanket advice simply won’t work.
We’ve compiled 6 of the best videos on the web surrounding this topic and put them together here for you.
If you’re getting too many real estate leads for yourself, these videos should help you develop a successful plan towards building a team to manage those leads.
If you need more inbound real estate leads, check out these videos:
The question of how to structure real estate teams comes after you’ve been in the business for a while. So, those above links might be more appropriate if you are just starting out.
One of the problems with searching for videos online is that you can’t skim videos. It’s hard to find quality content quickly because you must watch a video to find out if it is good or not.
I’ve done the legwork for you and written a short description of each video below.
Without further ado: “How To Structure Real Estate Teams And Split Commission”
Maria recommends setting up one goal for the entire year. To her, this is the number of transactions.
Then she simply focuses on reaching the goal collectively as a team. She fundamentally believes in referrals, so she structures her teams commission that way. Her team members are given a higher commission on referrals they personally generate. This has allowed her to make team generated leads only 60% of the total number of transactions they do.
Listen to Maria talk to learn more about building a team that builds more leads.
Ben Kinney talks about how he built a team that generated over 500 transactions annually. Yet, he does less than three of those transactions. He has built out an incredibly smart and lean business model.
This step-by-step process takes you through various stages. Starting with hiring an administrative assistant, Ben talks through the philosophies of navigating each stage.
He also throws out the number of transactions you should hit before moving on to the next stage.
The team found that the best buyers were people who sold through the team. So, they structured everything around that. Their whole morning routine is built around generating more seller leads.
This team also tracks their numbers religiously. And they give a lot of power to their admin in order to help them accomplish this.
Listen to this video if your team is currently stuck in a rut and isn’t generating seller listings. It will also help you figure how how to structure real estate teams.
If you’re considering a big expansion to your real estate team, Jim Bass gives you the structure that will help you find success.
He cautions against building a team before having a substantial number of leads to distribute. If you work in this manner, people will simply leave your team.
Bringing someone into your team is an incredibly time consuming process. This will be a big loss of time on your end if the people you are bringing in end up leaving quickly.
There also needs to be a significant amount of structure put in place before on-boarding anyone.
Listen to this video if you are interested in a generic structure that should help you answer your questions about how to structure real estate teams.
Finding an answer to the question of how to structure real estate teams is difficult! These videos can only show short snippets of how these individuals successfully setup their teams. You’ll have to watch more.
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