As the real estate market has once again taken off across the country every successful Realtor looking to strategically grow their business. Last year we closed $44M in real estate transactions putting us #1 in Minneapolis and in the top 10 in the state of Minnesota. We are on track to successfully close $65M in 2014. Our vision has always been:
To provide an unparalleled level of professionalism, insight, and communication to all of our clients, every day. To utilize our individual strengths to maximize a level of service unmatched in the marketplace.
Below are some tips that I would advise any Realtor and/or team out there thinking about growing their business or merely molding it to be highly efficient:
Create a vision and share it with everyone. I partnered with a brokerage to give all of our clients a high level of service. When we meet with Buyers or Sellers on an introductory level, we explain that everyone deserves to have an amazing real estate experience regardless of the price point and leverage the best people in the industry. When an agent can very clearly articulate the vision of their team, clients respond accordingly and buy in at a high level.
Success comes from our individual strengths. As my career moved into overdrive, I had a number of business partners, clients and mentors advise me on the power of delegation as well as making the proper hires for long term growth. At first I was under the impression that no one could do things better than I-but as I started letting go, making the right hires, the business reached new levels of growth and ultimately performance. For years, I had been at a ceiling of $15-20M in closed sales and stressed. As soon as I made hires, assigned very clear roles and responsibilities for each partner on the team something magical happened: real estate took on a whole new meaning and truly became a rewarding experience!
Compensate employees and partners generously. Across the board, the biggest mistake I believe most team leaders can make, is to poorly compensate their partners and admin. My philosophy on this has always been the opposite, compensate your team with generosity and you will, in turn, receive a high level of commitment from your team. This will also translate out, if properly executed, into higher levels of productivity. Hand out compensation that is 25% to 50% higher than the rest of the industry. This holds true for admin and agents alike. Everyone on your team should be as excited about waking up every morning to sell real estate as you do! More on this in an upcoming blog post...
Systems and protocol will dictate efficiency. When I hired our executive assistant, she came to the table with a track record of success being part of a large real estate team. She saw the importance of having systems in place and took our business to task, creating procedures and protocol for the agents to follow. I can't stress enough how important this is to have an assistant and or business manager who understands the importance of these factors within the business.
Make a habit of grabbing coffee or doing lunch once a week with your team. We have found getting out of the office and having meaningful dialogue about each others lives is a critical component. In many ways it has brought all of our closer together. That bond of friendship beyond our working relationship is a cartalyst that drives all of our successes in life and in real estate every day!
Ben Ganje + Partners
Professional Real Estate Services
As a Residential Realtor, Builder and Developer Specialist, we sell homes in and around Minneapolis, Edina, Lake Minnetonka and the surrounding areas in the Twin Cities.
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Referrals from around the globe are always welcomed and appreciated, call us at 612.468.5638 or email firstname.lastname@example.org. Thank-you!