For two real estate coaching veterans, the key to forming a productive team environment lies in understanding their numbers, as well as the successful cultivation and incubation of leads.
During RISMedia's recent webinar—"Creating the Ultimate Team Environment Inside Any Brokerage"—panelists Verl Workman, CEO and founder of Workman Success Systems, and Cleve Gaddis, team leader of the Gaddis Group and master coach with Workman Success Systems, discussed the tools and systems necessary for creating the ultimate team environment.
The webinar was moderated by Terri Murphy, master coach with Workman Success Systems, and sponsored by Homes.com.
"My job is to create an environment that allows people to do what's best for their family and their move and doesn't require me to do all of the tasks," said Workman.
Where can team leaders and members start? Here's what he and Gaddis had to say:
Know Your Numbers
"Listings drive revenue, so for every listing that you generate, you should be getting six to eight buyer leads per month from that listing," said Workman.
The reason team members get listings is that they give agents permission to market—it opens marketing doors.
According to Workman, for every listing that you generate, you should close 1.5 buy-side transactions. That means if you post 50 listings, you should see 75 buy-side transactions.
"As a broker/owner, when you look at your matrix for your numbers, if your agents are heavy on listings and you're not garnering many buy-sides that means that you're generating opportunities that no one is following up with," said Workman.
Gaddis added that many real estate professionals are proud of 80 percent listings and 20 percent buy-sides and they think they're really doing something.
"The reality is what they're doing is leaving $500,000 in commission on the table because they're not running their business correctly," said Gaddis.
Leads, Leads, Leads
After understanding the numbers, the next step is to learn how to actually track them.
"In my opinion, utilizing a lead tracker is the holy grail for making your business work correctly," said Gaddis.
When you begin tracking your leads, you'll start converting at a higher level. Murphy mentioned that this is where most agents fall flat.
"They think they want leads, but they never take care of processing and incubating the leads that they get," she said.
There are plenty of amazing systems on the market currently that you can use to generate and incubate leads. Workman mentioned that he currently uses a Google Drive lead tracker.
"I want every lead that you generate to go into your lead tracker on first contact because it makes you think about the lead differently," Workman said.
What information should you immediately put into the tracker? The lead date, the time it came in and the source. This is done so that you can easily pull a lead tracker report which you can look to for lead flow and to create awareness.
"If you have 25 leads coming in, we expect you to meet face-to-face with five of those leads and, of those five, we expect you to close one or two," added Gaddis.
For more tips on how to create the ultimate team environment, watch the webinar below:
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