Want to start a real estate team but have little-to-no experience as an agent? Believe it or not, it’s possible to get a successful team running your first year in the business. The success of recent Real Estate Rockstars guest David Serpa is proof of that.
With only 10 months in real estate, David started his real estate team. Now, just three years later, his team of nearly 30 agents completes over 100 transactions per year. Better still, all of the agents who have been with David for 18 months or more earn over $100k annually.
Read on to learn what David recommends to new agents who want to start a successful real estate team. To hear everything David discussed during his interview, including how he boosts his conversion rate for open houses, listen to the podcast below.
What It Takes to Start a Real Estate Team
Starting a real estate team early in your career will take plenty of hard work, but hard work isn’t all it takes to make a new team successful. In order to start a team successfully and give it legs for long-term growth, you’ll need to create a business that rising agents actually want to join.
Here’s how David recommends doing that:
Rise Above the Grind
Income-servicing activities, like coordinating showings, are important, but you shouldn’t be the one doing them if building your business is one of your priorities. David recommends delegating these tasks to someone else so you’re able to dedicate more of your time and energy to generating clients and attracting great agents.
As his business grew larger, David did less of the tasks he personally performed starting out. It simply wasn’t possible to grow his team effectively while responsible for every aspect of its operation. In order to grow, he had to rise above the grind.
When word got out that David’s agents earn over $100k annually, other agents were very eager to join his team. Regardless, David never had trouble recruiting great talent, even when he was just starting out.
Early on, David worked toward creating a Rockstar persona; he became a well-known local figure by constantly putting himself out there. When he wasn’t hosting open houses, he was pushing out video content, posting blogs, and doing whatever it took to get his business more attention from potential clients as well as potential hires.
Business owners often hold back when it comes to training new team members, usually from fear that they may leave and become the competition. David doesn’t do this, and he doesn’t worry about agents leaving either.
David provides his agents with the best training and opportunities he can, which leads to better production numbers, better relationships with employees, and better retention rates.
Learn More About Real Estate Team Building
David had a lot to say about what it’s like to start a real estate team during his podcast interview. He also shared several valuable nuggets on increasing production, ensuring agent accountability, and more.
If you have any interest in building a real estate team, or if you just want some honest advice from a successful real estate entrepreneur, listen to the complete podcast with David Serpa.