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Last year, about nine agents with the Laurie Finkelstein Reader Real Estate Team in Florida sold 608 homes, meaning, on average, each agent closed more than 60 transactions in 2018.
Eric Beane, an agent on the Laurie Finkelstein Reader Real Estate Team, said the success of the team is all about culture, training and accountability. The comments came as part of the Teams Track on Wednesday afternoon at the Inman Connect Las Vegas conference.
Eric Beane
“We’re all about the culture, and we’re all about not only growing the agent, but narrowing their focus and using systems and leverage to really make sure you’re producing at a high level,” Beane said. “People come and go, especially when you have high standards.”
The entire team meets at 8:30 a.m. every single day, Monday through Friday. That meeting is mandatory. The team has high standards too, with members needing to close at least three transactions per month. The agents have 90 days to get up to speed.
Laurie Finkelstein Reader, the team leader, is in the office every day at 6:30 a.m. having one-on-one meetings with the agents on the teams.
One of the systems the team has in place is the use of the showing assistant model. Those assistants are usually newer agents on the team and are paid a fee of $30 per showing and a $300 bonus if the transaction closes.
“The last three years, I’ve had my own personal showing agent,” Beane said. “These are newer agents who want to learn and grow their business while still making money on the side.”
Because the entire business is a team, each member gets a lot of attention from the two-person in-house marketing team and photographer. The marketing comes at no cost to the agents on the team.
“The business cards are incredible, the signs are incredible,” Beane said. “My marketing directors will help me out and figure out how to brand it as a team.”
There’s also a three-person listing team and a team of 20 buyers’ agents. Some of the agents on the team act as hybrids if there’s an overflow of leads. The team also has a client care coordinator. Who manages everyone’s lead flow and calls for agent reviews.
Beane also provided advice to agents looking for the right team for their business.
“The biggest thing is, whether you’re on a team or a team leader, you want enough opportunity to grow as big as you want,” Beane said. “If your team leader is not providing that, you’re going to find somewhere else to go.”
He also shared some advice to those looking to build their own team.
“Keep it small and focus on quality over quantity,” Beane said.
