Things To Watch Out When Building Your Real Estate Team
Building a successful real estate team can be one of the most profitable things a person can do. This process can take years until all of the right people are in the right spots. Not only does it take a team being flexible but it also takes a team that is willing to change things up when things aren’t looking great. There are things to watch out for that can hurt a real estate team. These things aren’t always apparent so it is important to watch for them.
Hiring people with great references does not always work out as a substance abuse problem can be formed while working at your real estate company. Real estate can have the work hard and party had mantra but some people cannot handle this. Drug testing is important as you do not want the reputation of your company hanging on an employee who has their mind in an altered state because of drug or alcohol. Buying drug tests in bulk can be a great way to be able to test a person immediately if you feel they are drunk or high. Having a policy that allows you to do this is important as you do not want a lawsuit somewhere down the line.
A negative attitude in a mainly commission run job can be a nightmare. It is easy to become negative if you are in some type of sales slump. It is important to seek these people out to help them as a negative attitude can bring everyone in the office down. There are some people who aren’t meant for the ups and downs of the real estate industry so keep this in mind. Firing an employee who is constantly negative and bringing other people down is a decision that can bring energy back to an office. Just because you like someone personally does not make them a person you want to work with necessarily as attitudes about work differ person to person.
There are certain real estate companies that seem to do anything to get an offer in on a house regardless if they lie to their client. Around one third of agents polled thought that lying to a client about other offers on the house to pressure them is a common tactic. If you think that this is ethical, then by all means hire a person who implores this tactic. Real estate is about hard work and character so a lasting real estate team shouldn’t have anyone who doesn’t put the client first. Referrals generally help agents immensely so that could be motivation enough to clean up their practices. Do not allow for any type of unethical practices as this could end up with a company out of business and even some people incarcerated as there are plenty of offenses dealing with fraud that could end in jail time.
Building the perfect real estate team will be a continuing work in progress as the industry changes. Make sure you stay flexible and hire slowly as hiring too quickly can have everything out of control in a matter of weeks. Good luck building a successful team, it takes time but it is possible!