Managing the Money

Dean Moss
Dean’s Team Chicago
Keller Williams Fox Realty
Years in real estate: 14
Number of team members: 4
Region served: Chicago
I formed a team because…In 2001 I was a sole practitioner and my wife Sue was a legal secretary. Out of the blue she said she wanted to get her real estate license and sell real estate. She got her license and was my first team member. So in early 2001 we were a tiny team of two. Then we got a director of buyer’s agency services. Then a year later one of my clients said he’d like to get a real estate license-he did and we added him to the team.

How do you set an annual budget for the team?
Each of the team members is on straight commission. We each have individual production goals. They all carry their goals with them in a little folder wherever they go. They stick to those production goals and personal goals.

How do you compensate the team?
Straight commission.

How do you remain profitable as the team leader?
That’s always a struggle in challenging markets. We just joined Keller Williams so we had to re-brand all of our marketing materials and that cost money. But we always try to investigate very thoroughly any new marketing before we try it. And we try to remain accountable to production.

Do you use an outside accountant – why or why not?
I do. I have had the accountant for 12 years. We have a CPA who guides us from a financial perspective so that we can be profitable. I want to make sure that I am always on the right path.

How do you achieve financial harmony with your broker?
That’s kind of an interesting question for us because I think Keller Williams is the only major brokerage that really understands and embraces teams. There is a lot of old-fashioned thinking out there that brokerages prefer single agents accountable only to the brokerage and not a team. But Keller Williams understands the value of a team. So because we are with Keller Williams, we are doing well financially.

Success Strategies
Best competitive advantage: We are four heads as opposed to one. We have four experienced Realtors on the team who all give guidance from their own particular perspectives.
Our team is different because: We have fun, passion and a corporate mission. Our number one goal is our client’s number one goal and we don’t compromise our integrity. We are honest.
Our team culture is.. Agent centered, team centered and training centered. So we all share with each other how we can do things better.
Preferred training: Floyd Wickman is the greatest. And then Patty Kouri is our business coach. Floyd Wickman stresses the basics. He trains us how to build a book of business. Also Keller Williams has great systems and training. Any agent wanting to start a business should really consider Keller Williams. One of the things that we just added once a month is a social hour. We bond that way and that’s kind of cool.
I reward the team by… This is an all-commission business so their business is their own reward. That said I offer a shoulder to cry on. And once a month get-togethers. I also give them an objection-handling techniques conference call once a week.
Philosophy on life in real estate: Take your business seriously and yourself lightly. Also, do not let every little thing get to you. This can be a tough business and especially in tough markets you find a lot of people second guess you. So you just have to have a sense of humor about it. I try to give my team members a great nurturing set-up so they can make a lot of money without killing themselves.

Lesley Geary

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