On this episode of the Real Estate Fight Club podcast, Jenn Murtland and Monica Weakley are going to duke it out over this question, "What is the best structure for a team?" Monica is going to share some behind-the-scenes from her experience as a team leader at the Keller Williams office. The duo Jenn and Monica are going to reveal all the aspects to consider about a team.
Episode Highlights:
- Monica has rarely seen a high-functioning team where everybody is benefiting, and the team leader is making more money and working less.
- There are scenarios of under-talented and ill-equipped people who aren’t going to benefit from joining together and there are super talented people who are going to fly out when they realize they can do this on their own.
- Jenn mentions the old way of building a team like mentioned in the Millionaire Real Estate Agent (MREA) book.
- Monica asks Jenn to talk about her business partner, Alan. Jenn replies when it comes to her business, it feels like an evolution. It took her 6 years to get where the firm is today. Alan was on her team, but later they decided to be partners.
- Jenn shares how managing her team took her focus from handling the business.
- Monica suggests, "Run parallel with people instead of inviting them under an umbrella that you are then responsible for."
- For Jenn, "Success means money in my pocket so I could make the investments that I want."
- If you want to work and make $200,000 or $250,000 a year; there are 400 different strategies to achieve that instead of bringing on more responsibility.
- Monica says she has a team of 82 agents who she mentors, trains, and guides. She points out the responsibilities that she has towards them.
- To achieve something, take a second, take a pause, and really consider all your options. Get complete clarity on what you want; plan a one-year, three-year, and five-year vision and ultimately work towards your goals.
- As per Marc, "The person managing your team or operations should be the replica of you so that you can have that person fill in all your meetings and do and say what you would. Beyond that, a team is really made up of a lot of agents and people that are focused on buyers."
- In one of the earlier podcasts, Jenn and Monica discussed, "Who should be your first hire?" They had both agreed that an admin person should be the first hire because if you add salespeople, you will have more admin tasks, and that's not going to work.
- Speaking of growing and expanding, Jenn highlights the expansion of MI Sold Team. She asks Marc, "You are going to Florida and other states; If people either have a referral or they're interested in jumping into your program or learning more about what your team has to offer. What do they do?"
3 Key Points:
- Jenn and Monica share snippets from their personal experiences about team building and management.
- "Before making any decision, think of the outcome," suggests Jenn. From her personal experience, she shares why she chose real estate as a career option.
- Tiebreaker Marc Blair - Realtor, Investor, and Managing Partner of MI Sold Team at Keller Williams Realty, Inc. joins the conversation to share his unique perspective on "What is the best structure for a team?"
*STOP yelling at your phone and yell at Jennand Monica instead! Join us EVERY Thursday at 12pm EST for Real Estate Fight Club in Clubhouse. If you have an iphone but don't have an invite yet, text Jennat 513-400-1691.*
Resources Mentioned:
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