7 Quick Tips For Building A Rock Star Wholesaling Sales Team
If you want to fully maximize your potential as a real estate wholesaler you’ll want a team. So how do you grow, and optimize a rock star wholesaling sales team that will result in massive market share and revenue gains, sustainably?
If real estate investors and entrepreneurs really want to fully capitalize on the potential out there, they’ll eventually want to expand as a business. Bringing on a sales team can help boost revenues, while ensuring more free time. So where do you start with building a real estate sales team? How do you ensure great and sustainable growth?
1. Know What You Want
Take time out to really think and clarify what you want. What do you want to achieve through wholesaling real estate? What do you want your business to be known for? How will you stand out? Take serious thinking and planning time. This might be a weekend, or a couple hours a day for a week. Everything else depends on this. Make sure your compass is set right.
2. Know Your Clients
The success of all of your real estate marketing, sales team performance, and business relationships will all fall on how well you know your buyer and seller clients. This should be incredibly easy today. Too many business owners skimp on it. But with all the data from Google, Facebook, and other third parties this should be easy to put together.
3. Hire Great
Armed with the above information you’ll be able to hire the best sales talent for your real estate wholesaling business. This doesn’t just mean the slickest speaking phone rock stars or door to door salespeople. They have to be the right fit for your organization, clients, and brand. They can be in-house or remote workers, full or part time.
4. Set Standards & Quotas
Make sure everyone is moving in the right direction. Make sure the whole team is working in the right direction for sales goals, bottom line profit, and brand preservation. Everyone should know where they stand and where they are going. Keep this visible, and hold them accountable all the time.
5. Set Up Great Reports
Reports are crucial for tracking and measuring progress, performance, and identifying both areas of opportunity, and those that need work. Spending too much time deep in numbers and spreadsheets is rarely the most fun job for entrepreneurs. San Diego wholesaler and his podcast co-host Rich Cohen recommend that as soon as you can delegate this task to someone that will enjoy owning it.
6. Use the Right Metrics, Right
Be wary of metrics. They can be your best ally or worst enemy. You have to make sure you are tracking the right sales metrics, in context. Demanding all salespeople meet certain call quotas or talk time quotas, or lead quotas can be counterproductive if it isn’t improving the bottom line, and strengthening the team.
7. Maintain a Strong Team Bond
Hiring great, having tons of reports, and making rapid progress to sales, market share, and profit goals won’t mean much if you don’t proactivity work on team building and sustainability. Make sure you are making gains you can keep, and optimize sales team hiring and costs by retaining the best.
Authored by Best Transaction Funding BestTransactionFunding.com is the leading source of transactional funding and hard money loans for real estate wholesalers in the US, where 100% financing, and saying “Yes” is what we love doing all day long.
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