Whether you are an established real estate agent or venturing out into the field, a commercial real estate sales team is required in order to be successful. Being aware of the key steps that will assemble the right team will help your brokerage stand out from the crowd and competitors.
This will also drive customers to a swift decision and enable you to maximize your profit potential. Here are 7 steps to building a top-level commercial real estate sales team:
Research what makes a successful sales team
The best way to learn about team building is doing research. Consult internet resources, other firms , and get suggestions from within your sales team itself. Your group of agents should always have similar goals and core values in order to work effectively together. Team building will improve internal communication and foster teamwork. Once the right sales team is assembled, team building should be put into effect.
Interview and ask the right questions during the hiring process
In commercial real estate, the hiring process should be taken seriously, as it could make or break your brokerage. Asking relevant questions during the interview process will help you find skilled, top-notch brokers who best qualify for your firm. Ask questions to identify how they worked to achieve goals in the past and how they will fit into your sales quota.
Don’t be afraid to make difficult firing decisions
In your process of building a successful commercial real estate sales team, it is important to hire the best agents for the job. However, should any issues arise, do not be afraid to replace a failing associate. Managing a sales team may be hard, but managing an awful sales team is even harder. Do not be dependent on personal relationships, and always make the best professional decision for the agency.
Use up-to-date and innovative technology tools to help your team succeed
Brokerages with the best tools have a higher success rate, and your team of brokers should evolve with changing time and technology. Take control of the tools that you are using in your business by learning what is working and what should be adopted by your team. With the right tech tools, your commercial real estate team will have the ability to easily stay on top of their clients, prospect more effectively, and close more deals.
Hold your team accountable by recording metrics
When it comes to accountability, it is very important to stay on top of each deal and keep track all relevant metrics.This will remind each of your team members of their individual targets and team goals that should be achieved. After all, accountability also breeds responsibility. Focus on goals that are attainable and create metrics that will give the desired results.
Effective communication is key!
The overall success or failure of a commercial real estate sales team hinges on how effectively it communicates. This can be done through regular meetings, performance reviews, written checklists, and procedures. Communication is crucial for ensuring the success of the entire team.
Continuously train your team
Always provide your sales team with endless amounts of education and resources. This will ensure that the team properly reinforces their selling strategy until it’s close to perfect. By doing this, you’ll build a top-quality team of brokers.
With these 7 steps, you can build your commercial real estate dream team and establish a successful brokerage.