I was recently shocked to hear that my first hire, the first member of my team was leaving to try things out on her own. I had no idea that she was even considering trying things on her own, or that she wasn’t happy with her role on the team.
In this episode I discuss what I did right, what I did wrong, what I learned, and what I will do differently moving forward. Listen in so you can avoid the same mistakes.
I hired because of talent, not to fill a specific roll. According to The Millionaire Real Estate Agent you should hire an admin person first. Once you get to a point where you are so busy that you can’t keep your paperwork straight, you should hire someone to take over that role. Your 2nd hire should be a buyers agent. I didn’t follow this advice too well and hired just because the person was very talented and I wanted talent on my team.
3 Big Mistakes…
Looking back, I think there are 3 primary things that I did wrong.
- Unclear Communication
- Mis-alignment of goals
- Clearly defined roles
What I did right…
Apparently I did a good job training. Otherwise she wouldn’t feel equipped to go it alone. I also learned quite a bit in the process so it’s not like this experience was a total waste. My business grew, I learned a lot, and I am better for it.
What I learned
Clear communication is a must. The wrong set of instructions can cause someone to spend a lot of wasted time and energy on something. This leads to frustration, costs time and money, and can cost you a team member.
Set expectations in writing! This way there is no way that things can be mis-understood.
Check-in more often with your team members so that you get a better feel for where they are at mentally, emotionally, etc. Don’t assume morale is high just because you are not hearing any complaints.
Turnover is going to happen when you equip people to be successful. Always attract new talent.
Having someone else on your team forces you to have a clearly defined process for all the steps you take in your real estate business. You can’t have everything hidden in your brain somewhere. It has to be in writing, on a checklist, so that others can follow it. Whats your listing presentation? What marketing steps do you take on a new listing? How do you update your sphere? You can’t just wing it. You have to think it through clearly and have it written out so that it can be repeated consistently by everyone on your team. This is the difference between a real estate job and a real estate business.