You re The Leader - Let s Start With You
• Will hiring help you achieve your goals?
• What Is your broker s stance on teams?
• Legal and procedural requirements for hiring
• Personal readiness to lead
• Business readiness to hire
Advantages of Building A Team
• Increase in Income
• Broader reach in the market place
• Reinvigorating your love of the business
• Increased transactions
• Ability to specialize
• New avenues of clients
State Of Your Business
• Business Plan Review
• Goals and Objectives
• Do You Want To Grow?
• 1year, 2 year and 5 year plans
• Is Your Business Diverse?
• What is going on now that you re considering a team
1. Business Plan
2. Business Projections
3. CEO Mindset
4. Financial Readiness
Are You Are
• Cannot Show Property
• Must Be Paid a Salary/Hourly
• Cannot Give Opinion/Advice
• Cannot Hold Open Houses
• Measure Homes
• Host Walk-Throughs
• Can Act as Courier
• Can Organize Documents
• Can Schedule Appointments
• Can Place Signs
• Can Produce Marketing Under
Supervision of Agent
• Employment Is Subject To
Approval of Broker
1. IRS criteria for 1099 or W2
2. If an individual is hired to do tasks
that do not include traditional client
representation, carefully consider
how they are classified and
3. Hourly or salary basis (if not IC) –
regardless of license status
4. Tax withholding and other state and
federal employer requirements
1. The degree of control exercised by the
2. The extent of the relative investments
of the (alleged) employee and
3. The degree to which the employee’s
opportunity for profit and loss is
determined by the employer.
4. The skill and initiative required in
performing the job.
5. The permanency of the relationship.
1. Start date of relationship
2. How commission is disbursed
3. Who pays what fees
1. (MLS, Assoc., etc…)
4. How is vacation and time-off handled?
5. Who handles team finances?
6. Job description for each team member
7. Who is primary for listings and leads?
8. How will disassociation from the team
9. How is departing member compensated
ARE YOU READY TO PAY STAFF OR SPLIT YOUR COMMISSION?
1. Pre-inteview candidate screening
2. First Interview
1. Video conference
3. Tasks to determine fit
4. Second interview
1. Bring a friend
5. Candidate Selection
1. Background check