Fact: no one plans to fail, but many fail to plan. Whether you are on a team or running a team, check yourself on these top reasons teams fail. So why do Real Estate Teams fail? Let’s break down the top-10 reasons:
1 No lead generation, poor lead generation, inconsistent or unpredictable lead generation. Nothing happens without leads! A team is not viable without consistent listing inventory. Magic Number: How many listings must you have at all times to meet or achieve your income goals?
2 The team leader doesn’t personally have the skills, systems or scripts mastered which they are attempting to delegate to team members.
3 The team leader is not just delegating, but obfuscating; not following through, actually confusing things instead of clarifying.
4 There is little accountability if any.
5 The team is more focused on culture, education, events, drama and anything but profit. Profitability isn’t discussed as a regular part of business planning.
6 Too much emphasis on ‘contacts’, not enough on ‘appointments’ and ultimately on contracts closed.
7 Lack of exposure to a fully functioning and profitable team model; believing it’s ‘normal’ to struggle, to have feast and famine.
8 Mixture of jobs. Buyers agents who are part time transaction coordinators, assistants who also do marketing. Jacks of all trades but masters of none.
9 Overpaying buyers agents.
10 Driving revenue into the ground through the addiction of buying leads.