The Team Approach in Today’s Market

By Leslie Geary

RISMEDIA, May 2008-Moving from a heavy sellers market to a big buyers market is no easy task. For David Brownell of the David Brownell Team, having a team, however, has helped to ease the challenges of a changing market. To his team, the secret ingredient has been having a specialist in each aspect of the real estate business-from those responsible for transactions to those in charge of the marketing. Here, Brownell shares his methods for teaming up to tackle the Las Vegas market.

David Brownell
David Brownell Team
Keller Williams Realty Las Vegas
Years in real estate: 14
Years as an agent team: 12
Number of team members: 8
Region Served: Greater Las Vegas area.
I formed an agent team because… I wanted to create more of me and expand in that way.

What are some of the challenges you are confronting in your marketplace today?
Our biggest challenge is dealing with the shifts in the market that have occurred within the last three years. We have moved from a heavy sellers market to a big buyers market, and in order to deal with these two types of markets, different strategies are required.

How does having a team allow you to handle these challenges?
Like any small business, we have specialists in each area. We have one person who is responsible for transactions, another person who focuses solely on marketing, etc. Because we are so focused on each area of our business, we are able to adapt quickly and individually to any area that changes. Focusing closely on individual areas gives us the opportunity to see the changes that are coming and gives us a competitive edge over other real estate companies. It also lets us give better advice to our clients.

Does having a team provide you with a competitive advantage in your market?
Absolutely. Having a team allows us to focus on specific areas. Each team member is an expert in their area of the business and it gets rid of having just one person who is simply average in all the aspects of the business.

How does the team concept help attract and retain clients?
It allows us to give excellent client care. Because we have someone who focuses specifically on each task along the way, we are able to really nurture our clients. Since we run our team like a business, we are very professional and our clients feel that atmosphere. When it’s all said and done, that professionalism is what lures them back.

Can having a team be problematic in a down market in terms of overhead and expense? How do you deal with these concerns?
Having a team in a down market can be problematic if you aren’t aware of what is going on. When the market shifts, you have to cut expenses to stay lean and mean. Instead of cutting team members, we first look for ways to cut our expenses. Our team members are very focused, so typically the things that we pay for, such as mailings that we send out are cut first. I couldn’t cut any of my people and still be able to function as the business that we are today.

Success Strategies

How do you stay profitable as the team leader in a challenging marketplace? We all spend a lot more time on lead generation. In fact, we spend a lot more time on all of our key activities. While spending ten hours per week on lead generation is acceptable in an up market, 30 hours is more realistic in today’s market.

What’s the one thing your team can’t live without? Leads. They drive our business.

What’s the best way to build a brand? Develop one consistent look and carry it across all of the marketing materials that your company produces.

What is the average number of hours each team member works? Each team member works between 40 to 50 hours a week.

What is your philosophy on life in real estate? Balance is critical. An unbalanced life leads to burnout, so one of the first things we do is plan our vacation time. That way we know vacations are guaranteed, and they motivate us to do the work we need to get done. That time off is the light at the end of the tunnel.

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