After reading a post written by Tni LeBlanc titled "system failure-your team is your problem not mine" I was inspired to respond with a few of my thoughts on building a team. Her post was to members only, so I won't link it, but do look for it.
This is the age of the team concept. More and more real estate offices are promoting teams but some for the wrong reasons. In my opinion, a team should be created for the right reason. It should not be an ego adventure, and greed must be removed from the equation in order for it to continue to grow and work properly.
Each agent within a team must be competent and well versed in whatever niche that person pursues. Each team member should work independently, and production should be at a required level. Dead weight never works well in maintaining buoyancy.
Every team member is totally responsible for her own business on my team. I do the marketing and prospecting for new business and the team members do the work and receive the majority of the commission. My referral fee is 20%. It's minimal and it's a fair price for each agent to pay for a nice piece of business. They gladly pay it, and their enthusiasm for more business is great. The quality and attention to detail is superb. It's a requirement to continue to be a team member. I don't have time to clean up a mess and that point is clearly understood from day one by each of them.
My team works, and works well. They only pay that referral fee once to me, so if the same client surfaces again, 100% of the commission belongs to the agent second time around. If a team leader can eliminate greed and ego from the equation, the formula will work and so will the team.
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