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Rainmaker
3,594,843
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Talk with your broker. Think it through. Do you want to be a boss? What can you offer an agent to join you? Will you have listing agents and selling agents? Will you offer administrative support? Do you currrently have an assistant? Do you have a team membr agreement drafted separate from the independent contractor agreement they will sign with the broker? Review your separate agreement with your broker for approval.

Oct 13, 2016 12:49 AM
Rainmaker
1,084,704
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

As a team leader you need to provide leads, marketing, placing ads. The minute agents smell you as team leader can not support them to keep them busy or fed. Adios.

Oct 13, 2016 04:36 AM
Ambassador
4,700,335
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Great question Aaron, perhaps you would benefit from joining a top notch team for a while, learning how it works and what you can offer to your future team.

Oct 13, 2016 12:53 AM
Rainmaker
2,165,712
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Aaron - make sure that you know what you want.  Have you clearly spelled out vision and values?  Hire people who have shared values and want to succeed.  That be prepared to work with them to grow.

Oct 16, 2016 10:04 PM
Ambassador
2,209,455
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

You need to really think about this. Can you find other team members with the same values and work ethic as you. Maybe study some successful teams in your area and try to determine why they work out so well. 

Oct 14, 2016 08:48 AM
Ambassador
4,306,594
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Aaron Mtuanwi - good idea for sure. There are some great posts from Grant Schneider on team building.

Good Luck.

Oct 13, 2016 03:13 PM
Ambassador
3,985,140
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

There are many different plans and arrangements. I suggest talking to several team leaders in your area and get ideas. Most are willing to give you tips on what to do and not do.

Oct 13, 2016 01:54 PM
Rainmaker
1,157,329
FN LN
Toronto, ON

Make sure you have an appropriate legal agreement in place to handle the relationship.  Obtain legal, tax and accounting advice from appropriate professionals in your jurisdiction.

Oct 13, 2016 01:00 PM
Rainmaker
3,985,569
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

The biggest downfall is having someone not pulling their weight

Oct 13, 2016 09:37 AM
Ambassador
3,162,872
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

It's tricky to find the right agents to be part of a team.  You need someone competent in the job, but not motivated to generate their own leads.  

Oct 13, 2016 07:28 AM
Ambassador
1,615,470
Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

Read the Millionaire Real Estate Agent and follow the process.

Oct 13, 2016 06:24 AM
Rainmaker
863,956
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

One must have the time for their team members in order to succeed. If your goal is to make each member succeed and prosper, then you are heading in the right direction to be a successful real estate team leader.

Oct 13, 2016 06:09 AM
Rainmaker
3,423,528
Richard Weeks
Dallas, TX
REALTOR®, Broker

Make sure everything is in writing.

Oct 13, 2016 03:47 AM
Rainmaker
1,826,627
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

You need to understand your value to others 

Oct 13, 2016 02:56 AM
Rainmaker
459,383
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Aaron Mtuanwi  - you should start by talking with your managing Broker on the requirements within your brokerage. Then, the logistics of how the team would work within the members. Would all sales be credited to a team leader? How are commissions split? What if a team member doesn't pull his/her weight? And something to think about before you even start - how would you separate if it doesn't work out?

Oct 13, 2016 02:42 AM
Ambassador
4,222,588
Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
The Southern California Relocation Dude

There are a number of business models for teams and there are some good answers below. You might chat with you broker, and perhaps others you know who are team leaders. Hiring the right people is key and I would be very careful to be sure you hire for the job needed (admin, buyer agents, marketing) and not because you like someone. The DISC profile is used by a number of top agents I know when hiring for a team. And give serious consideration to what being a team leader means and if your truly want to be in that role. It's not for everyone.

Oct 13, 2016 02:42 AM
Rainmaker
4,867,411
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Aaron,

First thing I would recommend is find out if you like to be part of a real estate team.  Are you a good manager or a leader?  A successful team needs leadership and vision as set by the leader.  Think of it as a basketball team...what makes a great team?

Oct 13, 2016 02:24 AM
Rainmaker
5,823,494
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Match your team members with the kinds of leads you will be providing for them as their rainmaker.

Oct 13, 2016 01:39 AM
Rainmaker
1,911,826
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Step # 1  -  Read the Millionaire Real Estate Agent which is the MODEL for building a productive Team !!!

Oct 13, 2016 01:23 AM
Ambassador
1,706,647
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I think yout questions is not easy to answer unless you define what a team is to you. One size does not fit all.

Oct 13, 2016 01:19 AM
Rainmaker
573,518
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

Money.

Will you have extra $ to supplement a dry spell?  

Years ago I was starting a business ( not real estate) where I figured I needed a team for, so I hired and trained 4 people.  The enrollment for that business was less than what I counted on and I had to let 3 people go.

If I had to do that over, I would hire for the slowest business scenario, and then add people as needed.

Eve

Oct 13, 2016 01:13 AM
Rainmaker
536,820
Mark Don McInnes, Sandpoint
Sandpoint, ID
North Idaho Real Estate - 208-255.6227

"The Millionare Real Estate Agent" gives step by step.  Excellent reading whether working for KW or not.  Mark

Oct 13, 2016 10:01 AM
Ambassador
3,270,487
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

 I would refer you to talk to your managing broker for the best plan for your area ...

Oct 13, 2016 08:03 AM
Rainmaker
5,359,213
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

I think your best guidance will be to place that in the search box and read the many posts that have been written....

Oct 13, 2016 03:51 AM
Rainmaker
1,473,228
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Lots of pitfalls when money is involved!  

Oct 13, 2016 02:23 AM