Posted on: December 6, 2016 by

Part of being a successful real estate agent is knowing the ins and outs of the industry, being up to date on trends and the housing market, and continuing your education. However, as a successful agent, all of the work and effort can be overwhelming. If you are looking to expand your operation into a team, here are some critical factors to keep in mind to ensure your success. Even more importantly, ensure your practice is secured with a Real Estate Professional Liability program as we dive into the new year.

Use your resources.

It’s important to remember that you aren’t alone- use resources for marketing, sales techniques, transaction management, etc. This is a great way to perfect your craft and train new hires to be successful.

Hire administrative help.

Hire a Client Care Coordinator. This position can be full- or part-time, but should be filled from day one. I don’t believe you can get to the place in your business where you’re making $1,000 per hour if you spend 15 – 30 hours a week doing $15 – $20 per hour tasks. You must delegate and follow a proven process for hiring and training talent, explains Verl Workman to RIS Media.

Streamline the process.

We live in a digital age, so take advantage of it. Automate all of the processes in your system to manage transactions before, during, and after the sale.

Cater to millennials.

Millennials love working in groups and helping each other be successful. This team environment is very difficult to achieve as a group of agents. Team means something entirely different than group, and building a team makes work more enjoyable, and, more importantly, gives you the ability to have someone you like and trust handle your clients when you need time with your family, says the article.

Work together.

There’s no need to go it alone. Building a team is an important process and can’t be completed overnight. Remember that your new team needs regular coaching and management to contribute to your success.

 

About NewMark Insurance

At NewMark Insurance Services, we understand the unique risks you face as a business owner and real estate professional. We offer professional liability coverages for a number of professions, including real estate, the legal industry, and insurance agents and brokers. To learn more about our Professional Liability policies as well as our other Business Insurance products, please contact us today at (855) 777-6549.

 

Posted in: blog Real Estate E&O

Tagged: building a successful real estate team Real Estate E&O real estate e&o insurance Real Estate Professional Liability real estate team 2017