December 12, 2019
Having a team structure in place is paramount in order to improve productivity and efficiency in this modern age of selling luxury real estate. When a collective group of individuals with similar work ethic, goals and objectives join forces, business operations are elevated, giving way to greater output at a faster rate, which ensures clients receive the best service possible.
From administrative and marketing personnel to escrow and client relations representatives, it can take a village to seamlessly blend the various components needed to achieve a successful real estate business in this fast-paced, digital culture. However, once the right group of people is brought together, the business thrives and allows for future growth.
Strength in Numbers
Being a one-person show in real estate today is quite challenging as there are so many roles to play and tasks to complete. As agents, we spend the majority of our time outside of the office, holding meetings with clients and showcasing properties to potential buyers.
Being caught up with all the other functions needed to run a successful business is nearly impossible and working long hours to stay up-to-date provides little time to take on a large volume of business. Hiring assistants allows the ability to increase and sustain face-to-face interaction with clients, negotiate offers, secure new business and host multiple showings, while trusted team members are back at the office handling the numerous other tasks needed throughout the workday.
The Importance of a Skilled Team
Having a one real estate agent/one assistant model is difficult in today’s demanding work culture as the duo can only handle a limited number of listings and escrows effectively. Building a team with one or two lead agents, like ours, along with an individualized, skilled staff who can perform key functions, allows for the business to grow.
Needs Dictate Growth
Marketing a luxury property has evolved from advertisements in the newspaper to new technologies in place, including social media, email blasts and website updates. For us, this is a full-time job as we have a substantial inventory of listings. Growing our team to include a listing coordinator and marketing director was essential to effectively market and showcase our growing roster of listings. Once a listing is signed, the listing coordinator and marketing director work together to handle all aspects of launching that listing, including adding it to our website, blasting it on social media and to our client list through a targeted email campaign.
We’ve also added an escrow coordinator to our team to handle the intricacies of finalizing sales transactions, and on occasion, a buyer’s agent should we need a unique or specialized area of expertise that our current team is not well-versed in. This adds an additional layer to our team’s growth dictated by the needs of the current climate and luxury clientele.
Source: https://www.inman.com/2019/12/12/why-teams-are-perfect-for-todays-real-estate-culture James Harris and David Parnes serve as Directors at The Agency and star on Million Dollar Listing Los Angeles. They specialize in high-end residential real estate and investment properties in Beverly Hills, Bel Air, Holmby Hills, Sunset Strip, Hollywood Hills, Brentwood, Pacific Palisades and Malibu.