The real estate sales and brokerage industry accounts for an annual revenue of $117 Billion and has grown at a rate of 3.8% per year for the last five years. This means more business, more opportunity, and for established real estate professionals, more time spent on their business. Building a real estate team can help you cut down on that time as well as expand your business into the next tax bracket. If you’re thinking about starting your own real estate team, there are some things to consider:
1. Can You Afford It?
This is the first and most important question to ask yourself, and you’ll likely know when you’re there. If you have so much on your plate that you’re having to either forego or lose business, then hiring additional administrative help is prudent. Bernice Ross of RealEstateCoach.com says, “Putting together a team doesn’t have to stop you in your tracks, a good rule of thumb is hire one person for every 50 transactions you do.”
2. Where do You Start?
Most teams start with some administrative support to free yourself up to focus on money making tasks, but be sure to outline exactly which tasks you’ll leave to your new employee. Fafie Moore, whose real estate company consists of more than 600 sales associates said, “In my experience, the best teams are made up of a listing coordinator, a transaction coordinator, a general administrative person, an office manager or team leader, and maybe two listing agents and two buyer’s agents,”
3. Brand your Team
Like any company, a mission statement, core values and concepts, and even your business name combine to create a brand identity which forms a likeminded, successful team. Here’s some great real estate team names we’ve found:
Amazing Grace Real Estate Team
The Ed Kaminsky Real Estate Team
Pasadena Views Real Estate Team
Team Perla Real Estate Services
Residence: LA Real Estate Team
First Team Real Estate
The Dan Jensen Real Estate Team
Eve Connors & Team
The Geyers Girls Real Estate Team
Sotelo Team Real Estate
Team Dynamic Real Estate
Frank Kenny Real Estate Team
The Wise Team Real Estate
The Geiger Real Estate Team
Brother & Sister Real Estate Team
The Prather Team
Anderson Real Estate Group
Julie Aragon Lending Team
The Powers Team
Bond Real Estate Group
Rockwell Properties Real Estate Agency
LA Power Brokers
The Carrabba Group
13 East Realty Inc
Loft Living LA
Premier Real Estate
‘Real Estate Team’ interest over time:
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