3 Strategies For Growing Your Real Estate Team…HINT, it’s not what you think.

By Diana Zaya-Passarelli | Published November 19

I recently received a phone call from a long-time friend who announced to me that she had entered the real estate business. Excited over her new decision, she went on to describe her innovative and fresh ideas in detail. Having had my own real estate career, our conversations were largely centered around her gaining any insight or feedback I could share. Fast forward a few months, and I received a call from that same friend who was a bit discouraged and stated that getting started in real estate was much more difficult than she had anticipated. After listening to her struggles, I offered the simple suggestion that she may want to investigate joining a team.

It is no secret that teams have exploded in popularity over the last several years. When I was practicing real estate, the concept of joining a team was rare…not the case anymore. The National Association of Realtors recently stated that 19% of agents are on a team. Other interesting statistics according to the ‘NAR 2018 Teams Survey’ found that 26% of respondents were members of a team. Additionally, 16% of respondents who were not currently on a team had previously been on a team and 30% had considered joining a team. The numbers are clear. The real estate landscape has evolved, and teams are the future of real estate.

All team leaders have their own ‘tried and true’ strategies for recruiting team members. At Relitix, we look to the data to inform our decision-making.  We have developed advanced tools that put to work, the power of AI combined with the soft skills that individuals bring to this ‘people business.’

Here are 3 strategies you should implement today:

1.       Recruit agents already operating within a team environment. These agents are already familiar with the process and culture of a team. They also favor the accountability and support that they receive by belonging to a team. Our ‘teams’ tool’ will identify agents within your market that are already operating as team members, equipping you to uncover these agents within minutes.

2.       Identify agents that may not make it on their own. The truth is that this business in tough. And we know that the statistics are not favorable to newer agents. NAR stats recently stated that a whopping 87% of new agents do not make it to their 5th year anniversary. Being able to uncover the agents that have a certain measure of skill and experience but may not make it on their own make for excellent team members. The Relitix ‘Rookie Rating’ places a percentage on the future success probability of all newer agents within your market. We find that agents that fall within a very specific percentage make for great team members.

3.       Identify and target agents that are currently at the highest risk of leaving their current brokerage. We know that certain markers are present when an agent is planning their departure. Their production is waning, or they may experience a flurry of canceled listings. Being able to uncover these individuals ahead of their departure is a true challenge…but not one without great rewards. Our most popular feature is our AI-powered, ‘Switch Risk’ rating which identifies and flags agents that are most likely to leave their current brokerage. Having this advanced insight and applying it to agents within your market is an excellent strategy for uncovering future team members.

At Relitix, we continue to push the envelope of what is possible, constantly innovating to meet the demands of this ever-changing business. For more information, please reach out to us at info@relitix.com or click below to schedule a demo.