NEW YORK CITY—Now more than ever, a team approach is essential to execute on a commercial real estate transaction. Today, sellers and buyers demand a great level of sophistication with respect to due diligence, marketing materials, and reporting.

When I started out as a broker, I spent many hours doing administrative, research, valuation work, and for lack of a better word, paperwork. By building a team over the last 16 years, I have streamlined activities so I can concentrate on the highest level tasks for my clients.

With the help of my Sales Coach Rod Santomassimo and Brad Ahrens, of the Massimo Group, I have learned how to best structure and build a team. Rod, the bestselling author of Brokers Who Dominate, has written a follow up book on team building, Commercial Real Estate Teams Built to Dominate. My team was honored to be one of the eleven teams selected throughout North America.

Since his newest venture does not hit stands until October 12th, I wanted to give all of you a sneak peak at the insight that Rod had to offer our team. Below, I will explain three techniques that are key to our success: the point-person role, team operating agreement, and open communication.

The Point-Person Role

In the past, I attempted to be the sole point of contact for our clients. I found that I was not the best person to deliver day to day updates as I wasn't the boots on the ground. I might not have the most current updates from a tour. As one person, the load was too much to carry and important details started falling through the cracks.

The development of our team's point-person system has allowed me to better serve existing and future clients. Under this arrangement, each new listing is delegated to one of my team members early on in the procurement process. Once I introduce the selected point person to our client and a relationship is established, that team member becomes the go-to individual for everyday tasks. This way, everything is accounted for and the client gets the attention they deserve. Additionally, this gives me the freedom to do what I do best: originating business and then helping close it.

Team Operating Agreement & Goal Setting

It's no secret that having goals is essential to success. Years back, I would make goals for everyone on the team and then put the goals away in the desk drawer for a year! We had no game plan to achieve these goals and team members weren't focused on them.

Now, at the start of every year, each team member establishes new personal goals and how they will contribute to the team. This means they have signed on to these and can be held accountable. We try and see how we can complement each other and all make sure we pitch in to team tasks where appropriate.

This all ends up in our team operating agreement. This seven page document not only outlines our team goals, but specifies personal ideals as well. We approach the up-coming year, and every week thereafter, with a focused way of executing. With clear-cut expectations, team members have the tools to grow their own book of business and leverage our team platform. By the way, if you buy Rod's new book, you can access our team operating agreement with one of the many free downloads.

Communication

All of us sit in open cubicles in a small radius where we can easily hear what everyone else is doing. This fosters an environment where un-planned conversations are easily facilitated. Aside from these casual discussions, scheduled meetings are also a part of our weekly routine.

Every Thursday, I meet with our sales team manager to review internal documents and housekeeping. The following day, we have our weekly team meetings. In this setting, we go around the room to each point-person and review the week's activity on each listing. This way, we remain united and informed throughout each marketing process. I meet with every teammate once a month, one-on-one, to look at overall performance and resolve any open issues. While we have many different mediums of staying connected, our team's frequent communication is key to our success.

I consider the adoption of the above strategies to be game-changers for our business. I know my abilities as a top-producer for my firm were improved by changing my thinking from maximizing my production, to maximizing my team's production. While no team is perfect, I am very proud of the reputation and level of success we have achieved. I hope you pick up a copy of Rod's book to learn more about the importance of team culture. I am confident that Commercial Real Estate Teams Built To Dominate will provide you with a variety of tools to help you build your business. See www.creteams.com for more information.