Successful team leaders and stars of Million Dollar Listing Los Angeles James Harris and David Parnes share what has helped them grow their business into a reputable team sought after by agents, brokerages and clients.
Are you receiving our weekly Teams Beat newsletter? For the latest news, insight and trends on teams, subscribe here.
If your goal is to robustly grow your team and add new staff members and agents, it’s important to maintain a positive reputation within the industry, a great work culture, and also be a support network for agents where they can grow their business and flourish.
Similarly, if you wish to be considered a sought-after team by brokerages around the country and beyond, an impeccable reputation is an absolute must.
When we first arrived in the U.S. from the U.K., we were starting at zero. We hit the pavement (literally, door knocking in Beverly Hills and Bel Air) and made our connections the old-fashioned way.
Looking back, it was a brilliant way to intimately learn the areas where we would eventually have all our success. In the early days, we spoke a lot about how we would model our business, the culture of our team, and grow within the industry.
We are pleased to say that as we reflect on those initial conversations, we have kept true to ourselves as we have grown our team and our business.
Below are a few pointers that we have adhered to as we have grown during our time in the real estate business.
Maintain a great reputation
First and foremost, no matter if you are a team or an individual agent, maintaining a positive reputation within the industry is paramount. This is something that will come easily to those who conduct themselves in a professional and ethical manner, and it’s also something that is very difficult to be taught or learned.
A few rules of thumb we like to live by that are simple and impactful include:
- There is always a tomorrow in business.
- Who you see on the way up is who you will see on the way down.
Numbers don’t lie
While there are many factors that contribute to the overall reputation of a team, production volume is key. The proof is in the pudding when it comes down to not only the overall success of the team, but also for the growth of individual agents within the team.
It doesn’t matter if a team is small or big, anyone looking to join a team is looking for steady production and also opportunities in which they can grow their book of business and also their knowledge.
We make a point of highlighting the successes of our team members and spend time mentoring them in how to grow not only their brand, but their business. It goes without saying that top-producing teams are always attractive to brokerages.
Define your path
It is important to have a clear direction when approaching the real estate business. If you bite off more than you can chew, you will dilute your efforts and impact, and it will become easy to stray off your path to success.
Being a sought-after team within the industry means that you have a clear focus, a well laid-out path to success and a business model that is relevant, attainable and easy for all your members to follow.
Making sure your areas of expertise are well-defined, and that you have a solid foundation and path to follow, will ensure the success of your team members, and thus a reputation for being successful and sought-after.
Another very important part of being a sought-after team is demonstrating not only success, but also highlighting the culture of the team and ensuring that it is a positive environment for your agents and staff in which to flourish.
While not every team will be a fit for all agents, make sure that you are always true to yourself and your team, and create a safe and positive environment to work. That said, it is equally important to invite those who do not subscribe to your culture to seek an alternate team to join as one rotten apple will spoil the barrel.
Select your brokerage wisely
The brokerage in which a team works needs to fully align on all levels. When considering making a switch or if your team is approached by another brokerage with appealing terms, it is important to keep in mind a few simple things:
- Does the brokerage subscribe to our core values?
- Will the team branding and marketing be accepted and enriched by making a switch?
- What are the additional-adds a brokerage can offer to an already successful team?
Be very selective when making a move because a top-producing team can add to a company’s overall visibility, popularity and success. Take your time and weigh up all options and considerations.
While there are many ways in which a team can become sought-after by both new members and brokerages alike, a lot will grow organically as you conduct your business with high ethical standards and a good moral grounding. Other items listed above will also add to the strength of the team, and you will also find your own rhythm and process for growth and success.