Who & What is “The Team”?
You might be wondering “what is a Real Estate Team”? Why should I care? Realtors who provide goodservice can expect to see business grow. Like any small business, there comes a time when the business grows to a point where one person can no longer do everything. At this point, Realtors must decide how to proceed: attempt to maintain service levels all by themselves, or hire a team. Traditional Realtors operate as solo agents, while others form teams – or quasi operating companies. Regardless if you select a traditional Tampa Realtor (solo practitioner) or a team, you will have one primary point of contact responsible for fulfilling your goals. Here are the differences below should matter to you:
A Real Estate Team, as run by Team Bohannon:
- has multiple agents working together
- has a staff to implement marketing plans
- has administrators oversee details between contract and closing
- has “specialist” for various aspects of the real estate business
- utilizes systems to achieve predictable results & service levels
- allows agents to grow “as a business” rather than “as a craft”
- pools resources and spend money on marketing
- has meetings, business process and accountability
- has employees, benefits, budgets, and financial planning
- ensures someone is available 7 day per week
- allows agents to achieve life/work balance.
- can do several things at once: show homes, implement marketing plans, provide feedback on showings, update a market analysis, handle negotiations, review inspections, follow-up on financing, meet appraisers, manage contracts, and attend closings.
Traditional Agent/Solo Realtor
- is kind of like a “one-man-band”
- can quickly become very busy and overwhelmed
- faces major time pressure to do multiple things at once
- has a challenge maintaining service levels at times
- must have diverse skills: sales, marketing, administrative, clerical, creative
- cannot realistically work 7 days a week, every week
- are more subject to burn-out
- will leave town and take vacations or be unavailable at times
- must do several thing at once: show “out of town” buyers homes, implement marketing plans, provide feedback on showings, update a market analysis, handle negotiations, review inspections, follow-up on financing, meet appraisers, manage contracts, and attend closings.
Using Systems Properly
We know that great systems poorly executed will fail to deliver results. We have learned a few lessons en-route to selling over 4,100 homes in the Tampa Bay area. We rely on a team approach to ensure our systems produce world-class service at every phase of the transaction. There are over 125 steps, exponential variables, and several companies that must communicate and execute in harmony to close a transaction on time. The team implements systems to coordinate the timelines, escrow, inspections, repairs, survey, warranty, appraisal, financing, home insurance, title and other aspects of the closing. It has taken years to assemble a team and align the right people with the right skills to run the system. If turbulence arises, you can have the confidence to know that we have encountered the situation before and have an alternate flight plan. The system and the team allow us to deliver a predictable level of service that you can feel confident in when recommending us to your friends and family.
The Extended Team: Business Management Team & Vendors
Every team has a coach. Although we have been in business for decades, we have found value in consulting a Business Coach for process audits, new ideas and continuing education. Our coach brings ideas from top experts in the real estate, marketing and technology fields from around the country. We discuss best practices and key books such as: The Speed of Trust by Stephen M.R. Covey. Our business management coach helps us keep the focused on building long term relationships that form the foundation of world-call service and durable competitive advantage.
As your Value Added Real Estate Experts in Tampa, we work closely with lenders, title companies, inspectors, movers and an array of home repaid vendors. We cultivate relationships with qualified vendors that are in alignment with our mission. We look for experienced vendors with high standards of performance. In some cases, we have negotiated special discount for our clients. We rely heavily on satisfaction surveys to monitor 3rd party vendor performance.
Call today to sepak with Team Bohannon at (813) 979-4963.
