Q&A MEMBERS CALL: How to Build a Team from Scratch

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Transcript:

The question is, "I feel overwhelmed with buyer leads I have at this point, and yet, I also want to get away from the $15/hr activities. Should I bring on a buyer agent first? I don't feel like I have time to train both?"

The Perfect Hire

It's worth it, outside of just a temporary cash flow crunch you might feel, to bring an admin on. Even if it's just a personal assistant, even if it's not the person that's going to be with you for seven years. In a perfect world, you'd bring on someone like I was able to bring on. My first hire is still with me. She's still an impact player in my business. She'll be with me forever; she told me she's never going to work anywhere else.

That's the perfect hire. I hired her at $14/hr, for 20 hours a week. She quickly went full-time, and she's done really well. She's getting paid double what I started her at, 7 years later, so that's pretty good as far as compensation growth.

In my opinion, that's going to be your first hire. It's someone to take that low dollar productive activity off your plate. It's multi-faceted. Even if it's not someone who's licensed that understands real estate, it's someone who's detail-oriented, definitely an "SC" personality. It would be great if they're with you five years from now, but just getting someone to take those 20 hours a week off your plate is huge.

Your Next Steps

Since you're swimming in buyer leads, it's exactly what happened to me. I brought my admin on, and it took me 18 months to make my first buyer agent hire, which I would not recommend. You take 3-6 months to get this admin up and running, then you're hiring 2-3 buyer agents—heavy recruiting right out of the gate. 

The way I did it, and the way I hope all of you do it, you'll be able to compress three years into 12 months. It's bringing the first admin on, then getting your first 2-3 agents up and running and busy. Then you're focusing on listing lead generation, getting the right split structure in place, and then your recruiting propisition, your value proposition, is that you're literally overwhelmed with buyer leads. You're swimming in buyer leads, and you want to focus on the listing side, and the opportunity that comes with it.