5 Habits of Highly Effective Real Estate Teams

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dotloop

November 19, 2018 | comments

Best Practices to Give Real Estate Teams the Edge Over the Competition

According to a recent NAR survey, 26% of respondents are members of a real estate team, a growing trend that allows agents, admins and brokers to increase productivity by leveraging their unique, specialized skill sets.

Recently, we reached out to some of our seasoned Teams Advisory Board members for their best advice on how to create a highly effective team. Organization, communication, scoping a clear vision, accountability and, of course, technology top the list.
 

Real estate team

Defined Team Roles

Nora Glahn of Hello Homes GR says her team makes a point of ensuring every person has their own clear individual roles and responsibilities. This allows them to work together on transactions in a systematic and efficient way.

Cathy Maggi, 3LRE Group, Keller Williams Realty, agrees. For her team members, “ ‘staying in their own lane’ means our agents only do three things: meet with clients, negotiate contracts and complete a great hand-off to the staff. The transaction coordinators handle the transaction; the marketing department handles the marketing; and the productivity assistant makes sure the clients are communicated with every day.”

Better team communication

Communication

With specialized roles, you must have clear, two-way communication, says Maggi. Whether it’s internal or client communication, every team member stays in constant communication with their partners to ensure a seamless transaction.

In today’s competitive marketplace, speed to lead is critical, necessitating agents and admins stay connected with buyers and sellers through every channel, including social media, email and text.

“We are also very involved in our local real estate community and do our best to stay informed on the latest trends, data and tools that we’re serving clients,” adds Glahn.

Shared vision

Shared Vision

Maintaining a shared vision of the team’s mission and objectives clears the way for how they’ll achieve those goals. This habit, says Hagen Kuhl of The Kuhl Team at Property Depot, plays a key role in making his team highly effective.

The Kuhl Team lays out exactly what actions and plans they’ll implement to accomplish their goals while always operating with a sense of urgency.

“We take risks, and we are action-oriented — not planning oriented,” says Kuhl.

Justin Hardman of Xperience Real Estate Team, Keller Williams, shares that his team applies the 20% rule to stay aligned to the Xperience team member’s vision: “Discipline to develop the habits that keep you in the most important activities consistently, also known as your 20%. And, take ownership over the things that are in your control to keep you in your 20%. Once you own the activities, the habits will become easier to develop,” Hardman says.

Accountability

Accountability

Melissa Boldt of Omaha’s Elite Real Estate Group at BHHS Ambassador Real Estate finds accountability is one key to her team’s success. This team hosts weekly accountability meetings designed to encourage, develop and coach agents toward reaching their goals.

“We find that effective agent accountability, matched with proven systems and high-level strategies, ensures success,” says Boldt.

Likewise, team members at 3LRE Group, Keller Williams Realty must attend at least one training per month, while newly licensed agents participate in intense training in both the classroom and field, says Maggi.

real estate technology

Leveraged Technology

Our advisors all agree that technology plays a huge role in helping their teams perform their best.
Hardman of Xperience Real Estate Team, Keller Williams, finds a key differentiator among teams is how they’re using technology.

“Do you have a clear understanding of your tech tools’ power and can you effectively communicate that to the team so that it drives adoption across the organization?” says Hardman. “If you have wide adoption, any technology will provide more leverage and prove to be more effective.”

Maggi also finds that dotloop for Teams has helped her team stay highly efficient. “Switching over to the ‘for Teams’ version has streamlined many areas of our duties,” she says. “The transaction coordinators can easily pop between agents and loops to handle any items that are needed. Management can easily see the status of loops and supervise without hovering. The reports are also very helpful when projecting for future revenue.”

Glahn of Hello Homes GR agrees, adding that for her team, “[dotloop] has vastly improved the speed and accuracy of preparing and signing documents.”

 

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