Why NOT to build a team

“Build a Team” they said at a conference.

Many times we hear the success stories of team leaders and it convinces a solo agent to try and build a large team.

It’s the progression that’s been preached since Gary Keller wrote MREA.

Over the past few years I’ve been able to interview and work with some of the most successful team leaders in the industry, but I’ve also heard the failures from great agents who lost money and business pursuing a team.

My conclusion is that most agents should not pursue building a large team. Here are my reasons:

Reason 1: "I want more of my time back.”

Team leaders can eventually build a business that gives them more time, but building that business usually takes much more time and effort. Building a team is more work than being a solo agent, and many great agents get burnt out by the amount of work it takes.

Reason 2: "I don’t have overflowing leads."

As a team leader, it is your job to provide opportunity to your agents. If you can not give them enough good leads, they will fail or leave your team. Some aspiring team leaders start a team thinking they can train their agents on how to generate business. But the most successful leaders are the ones that generate and nurture leads - allowing their team members to focus on being great buyers and sellers agents to their clients.

Reason 3: "Don’t start a team for yourself."

The best team leaders I’ve met understand that they need to put the growth of their agents ahead of their own benefit sometimes. Be a team leader because you are more passionate about the success of others than you are of yourself.

If you still want to build a team, you need to listen to last week’s mastermind with Chris Speicher: https://youtu.be/eXNXWuCLTkY

He has created and manages teams in five concurrent markets, and shares invaluable insight to his process.

And if you're a solo agent looking to grow their business then look to build a small & highly efficient team consisting of one or more admins, assistants, or showing partners.

The bottom line:

The key is to let revenue drive growth. Growth will not drive revenue. Hire on slowly, but mindfully.

Chat soon.

-tim