How To Build an Effective Sales Team
Real Estate Brokerages have it hard. They’re operating in a hyper-competitive environment with limited resources, and they have to get their agents to produce results in the form of commissions with limited oversight because of the whole “1099” work relationships. It’s easy to see why real estate brokerages and teams struggle. To succeed, going forward, brokerages and teams need to operate not just differently by adopting new strategies and collaborating but more importantly they need to have effective systems in place. Foretunalty, the right combination of planning and trained leadership can go a long way when it comes to creating profits via an effective sales team. Here is a little bit about how to do exactly that!
Establish a clear and up-to-date sales plan or sales playbook
There are many sales theories that exist today which means there is a bunch of different ways to succeed. However, that also means there are a bunch of ways that are proven to fail as well. How can you avoid the pitfalls and only choose the winning tactics? It’s crucial to start with a plan or playbook that details the entire operational side of your sales processes. This sales playbook should include the entire process from start to finish, including the timeline from when you initiate the process to when the deal closes. It should be clear to your team members what they need to do, when they need to do it, and whom they need to do it with.
Train your team members relentlessly
No sales process will be successful if team members do not have the required skills to execute it. Therefore, every sales playbook or process should include specific training for each team member involved in the process. As their leader, you should be their trainer in the beginning, but as the team grows your role should as well. That means you must have a well-documented plan when it’s time for succession. That way everyone is ready to move forward and your growth will not stagnate waiting for your operating procedures to catch up to your momentum. Why, because as you plan works and the growth compounds you’ll need to be their coach, their mentor, and even sometimes their motivator. The bottom line, have a plan to ensure they know what to do so that you are not playing catch up with their training later. They will become less productive and you will become frustrated unless you focus on growing properly.
Plan and organize your closing processes
Your closing process is the last step in the sales process. It is where the deal actually finalizes—and, it should be an efficient and smooth process. It should also ensure that the transactions close as soon as possible. In order to have a greater chance of getting post-closing referrals it’s crucial to have a well-orchestrated way of ensuring that the promises made are at least the minimum of what was delivered.
We all know that Real estate companies are under a lot of pressure to produce results with less human capital resources than ever before. Don’t get can get caught up in an inefficient poorly planned sales cycle that causes frustration and a loss of client’s trust. As the professionals in a transaction you and your team can overcome profit robbing issues by establishing a well-planned simple sales process. This will guide your decisions, training, and momentum in a way that allows you to lead instead of playing catch up due to being overloaded by the day to day trials of being a broker!