Devoid of marketshare or size, brokers have extensive operations to oversee—an obligation often streamlined through structured teams. As demonstrated in the recent RISMedia webinar, "Leveraging the Power of Teams"—moderated by Verl Workman of Workman Success Systems—there are benefits to embracing teams, including the departmental groups that keep revenue streaming in.
"None of us is as strong as all of us," explained Tom Dempsey, divisional vice president of National Sales for Quicken Loans, sponsor of the webinar. "Teams are critical to our success. Everything that we do is centered around the team environment; it's part of our culture."
Jean Marotta, vice president of Relocation Services at Berkshire Hathaway HomeServices PenFed Realty—No. 33 in RISMedia's 2018 Power Broker Report for sales volume—believes a firm foundation predicates success.
"I have always subscribed to a universal strategy for building teams," said Marotta on the webinar. "There are key components that you need to have: creating consistency; creating and maintaining a healthy environment; creating boundaries; creating the rules of engagement; creating realistic expectations…and, of course, we're big on training."
According to Deni Carrell, manager of Relocation and Client Services with Carpenter Realtors®—headquartered in Indianapolis, and No. 201 in RISMedia's 2018 Power Broker Report for sales volume—all of the components are essential.
"Setting expectations, training, communication and checking performance—making sure the agents are converting and that they're on the right team for their business plan and their personality…those are all important to have successful teams," said Carrell.
Behavioral considerations, for example, are key.
"In our training of both our internal teams and our external teams, I talk about the 'etiquette' of teams, the behavior of teams…and we spend a lot of time working on team-building, [and] working on lines of demarcation and boundaries, so we have teams that are respectful to each other," Marotta said. "Teams are so dynamic; they bring so many personalities and ego."
Also crucial is grasping the nuances of each temperament, so that members mesh together well.
"We get something in writing that tells us a little bit about them…their business…where they live…their hobbies..." Carrell said, referencing Carpenter's Relocation Specialist Profile, a questionnaire. "We find it important to pair personalities, along with skillsets, to make sure someone is on the right team."
Additionally, both Carrell and Marotta have baseline requirements for teams, from experience (two or three years, for instance) to personal production.
"Regardless of which team the agent is on, we typically like no more than 25-30 percent of an agent's business to come from our department," said Carrell. "We want to make sure they're growing their own business…[and if a] source does not exist, or if the business of that source declines, our agent is still able to be successful without it."
Education is paramount, as well, and that entails face-to-face interaction and online training.
"That's our responsibility—to provide the education and communication," said Marotta. "We can't take away from the value of that personal communication, besides the technology, that we use to support the teams."
Learn more from the webinar in the recording below:
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