The Hiring Path of the Millionaire Real Estate Agent

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So many agents make the mistake of seeking sales support first, usually buyer agents. As we've asserted before, salespeople are not by and large particularly talented at creating and implementing systems, nor are they the best people to identify and employ the proper tools for your business. In essence, agents who hire a buyer agent first have hired someone who is poorly suited for at least half of his job. In our experience, an agent should first hire administrative help. This allows the agent to focus on more dollar-productive sales activities such as lead generation, buyer appointments, and listing appointments. Depending on your personal production limits, your first, second, and possibly even your third hires will be talented administrative help. The idea is eventually to reach a point where you are wholly focused on lead generation, listing, and selling while your administrative team handles everything else in your business. Only after reaching that point, when you find you have more sales-oriented work than you can handle alone, do you add staff for sales, specifically a buyer specialist to handle many of the time-consuming tasks and processes of working with buyers.

Some Millionaire Real Estate Agents may opt to make the buyer specialist a "graduated hire" and begin with a licensed showing assistant. This allows them the option of being directly involved in initial consultations, negotiations, and preparing offers and contracts, while avoiding potentially long afternoons escorting buyers around town. By getting help in the selling side, you can increasingly devote your attention to the two most important sales activities in your model, leads and listings. As we have discussed, the more listings you have and market properly, the more buyers you will have. As you increasingly devote your energies to listings, you may need more than one person on the buyer side to handle the selling side of your business. In the end, you will need a talented lead buyer specialist who will eventually manage your other buyer specialists and showing assistants and hold them accountable to the goals of the business.

The next step in your organizational growth will probably be to add more administrative infrastructure if it is not already in place. Your marketing and administrative manager—who may have been your very first hire—is now managing your entire administrative team. She will help you fill your other future administrative needs: transaction coordinator, telemarketer, listings manager, lead coordinator, assistant, and runner. These hires are added incrementally and in proportion to your sales growth. All the while they have been helping you document and implement systems and identify and implement tools in your business.

The lead coordinator is an interesting piece of the administrative puzzle. This is the person charged with receiving, sourcing, assigning, and tracking your leads through a database. In the beginning, your assistant will probably handle much of the call sourcing (i.e., where did the call come from) and database entry for you while you are working alone. When you have sales help, you, the Millionaire Real Estate Agent, will be personally assigning the leads and tracking conversion rates. Only later, when you have a fully developed sales team, will this become a large enough job for a full- or part-time employee.

The last piece of the puzzle is on the seller side of the business. At some point your lead buyer specialist and any additional buyer specialists will handle almost all the buyer business and your marketing and administrative manager will handle all aspects of your systems and tools. They will be two of your three key points of leverage that you will need to manage actively or, if they are magnificent, with whom you'll consult. All your attention will be on shaping the message behind your lead-generation efforts and handling the seller side of the business. When you find that you still have more seller listings than you can handle alone, you'll hire a listing specialist. Eventually, you could have a team of them and a lead listing specialist who oversees and reports directly to you. This

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