How Creating Teams Within Your Brokerage Can Increase Productivity & Profitability

How Creating Teams Within Your Brokerage Can Increase Productivity & Profitability (1)

Turner Levison | July 15, 2020

The Multiplying Power of Teams:

While the benefits of creating and implementing small teams with your brokerage company has multiple, well known, benefits expanding the concept to include working in regional groups and national teams can provide the same benefits across a larger platform.

While there is not one proven strategy to integrate teams into your brokerage business the most successful strategy has proven to be to implement the team concept throughout all levels of the organization: agents, managers, and executives.

This in turn allows for different locations within brokerages to work together. Not only does this help in efficiency, leveraging specific skills of each team member it also provides the ability to always have a team member to have your back. Team strategies can also create a healthy competitiveness when teams exist within an organization if handled correctly .

Why Teams Improve Productivity

In a recent article Top Internal Concerns for 2020 CEOs agreed that their top internal concern and priority for 2020 is attracting and retaining top talent.

While each agent within your brokerage possesses a different skill set, teams enable their different expertise to complement each other which allows the entire team to leverage their time and skill creating more opportunities. When an employee or independent contractor can utilize their individual strengths they are more content and more productive. When agents and administrative personnel enjoy their work they are less likely to always be looking for the next “better” opportunity which will translate into higher employee retention and the opportunity to hire top talent.

The utilization of a team approach within your organization naturally increases communication, and effective communication is proven to increase productivity and efficiency. Internal communication also improves within a brokerage organization and team when there is a common focus and compensation is tied to a group effort. 

Encouraging teams to stay connected through utilizing platforms, such as, Slack or, Notion or Microsoft Teams can increase productivity within the team. These applications have been specifically created to keep employees connected and collaborating without clogging internal company email.

Collaborative Workspaces

Over the past decade, office buildings and workspaces have changed rapidly in design. Workspaces now utilize less square feet per person. This is in large part due to collaborative workspaces and open floor plans. These practices were becoming increasingly common as they decrease rent costs per square feet per person, allow for increases in communication, and increase efficiency.

The question is – Given our current situation will these trends reverse themselves – only time will tell. 

Using Technology Tools that Helps Support Teams

Brokerages utilizing technology have been shown to have higher success rates than brokerages that have failed to invest in new and vetted technology. While there is a plethora of new technology platforms available, there are few softwares that have the capability to provide the functionality required when implementing a teams approach and then also provide the capability to track, invoice and distribute CRE commissions accurately and transparently. 

How CommissionTrac Enables Teams:

Within CommissionTrac, we’ve recently revamped how you are able to set up, manage and grow teams. Managers of teams are able to see data from across their entire team. You also can have various levels of hierarchy:

We often see teams set up by market for larger regional and national brokerages, but we’ve also seen success when organizing single market brokerages by unit:

To find out how you can use CommissionTrac to implement teams within your organization and see why over 1,000 paying users including affiliates of Colliers, CBRE, Cushman Wakefield, NAI, SVN, Lee & Associates, as well as largest national ‘tech-enabled” brokerage business, TenantBase have chosen CommissionTrac as there back office platform – request a demo today by visiting our website at www.commissiontrac.com

Author: Daniel Levison – CRE Holdings (CommissionTrac, Commercial Property Consultants, Sharedspace) and Turner Levison, CEO, CommissionTrac, Daniel Stern

 

Share This Article

Subscribe to our weekly updates!