Real estate teams can go through up to four developmental stages, depending on the goals of the Team Leader. These developmental stages are typically done in sequential order. Failing to proceed in sequential order will, more often than not, sabotage the team’s results. The four stages of team development are described below:
The Stage One Team involves hiring an Admin Assistant (or Admin Assistants) who is responsible for performing all activities which do not require a license. The Stage One Team is the basic building block for all future stages.
A Team Leader will move to Stage Two after the Admin Assistant is in place and operating effectively. Stage Two involves hiring a Buyer’s Agent to handle Buyers or Rental leads. The key prerequisite to having a Stage Two Team is having sufficient leads being generated by the team’s marketing systems to justify a full or part-time Buyer’s Agent.
A Team Leader moves to Stage Three when he/she requires the assistance of a Listing Agent. Listing Agents are not utilized as frequently as Buyer’s Agents, as the Listing process is not as labour-intensive as the Buyer process.
A Stage Four Team is the final stage in Team Development. It occurs when the Team Leader puts department heads in charge of the buying, listing and administrative areas. These department heads are responsible for the various activities of the Buyer’s Agents, Listing Agents, and Admin staff within the team.