About Kinder Reese
There are plenty of so-called real estate experts out there teaching agents how to succeed even though they haven’t sold a home in decades, if at all. But Kinder Reese is different. Founders Jay Kinder and Michael Reese have collectively sold more than 6,270 homes over the past two decades, they still have thriving real estate practices, and they love sharing their proven systems and processes with other agents who are serious about growing their business.
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Who To Hire SECOND When Growing Your Real Estate Team
Published by Jay Kinder
No matter how big you want to grow your team, it’s crucial that you bring the right people into your organization at the right time (and put them in the right position on your roster).
It may not seem like a big deal, but Global Human Resources Consulting giant, Robert Half, International, believes that making the wrong hire can cost you significantly:
 Once you hire the wrong person, it can take as long as 16.8 weeks to let go of, and replace, them. That’s a little more than four months and a potential loss of $11,000 to $18,000 for your business.

What would happen to your business if it lost up to $18,000 in approximately 4 months?
It’s safe to say that you MUST hire the right person in every instance, whether they are the first person you bring on board or the last. Let’s take a look at who the right second hire should be for your organization.

First...who should be first

In order to determine who you should hire second, it’s important to talk about who you should hire first.

After selling a few thousand houses and working with thousands of agents across the United States and Canada, I am very confident in saying that the first hire for your real estate business should absolutely be...an administrative assistant.

I know that a lot of folks want to run out and bring on a buyer’s agent because they’re sick of, hate or don’t have a ton of time to work with buyers. But when you look at what I’m about to share, it will all make sense.
When you hire a buyer’s agent, your workload increases and your hourly rate decreases. Here’s why:

Increased workload: When you bring on a buyer’s agent, the amount of work you do increases. Between hiring, onboarding, training, shadowing, problem resolution and lead generation...you’re putting in extra time to make sales happen. In addition to that, you still have to do your own deals to keep money coming in, but it’s hard to keep that up on a consistent basis.

Decreased hourly rate (and even your income): The tough news is that as you take time away from your production and put it into helping your buyer’s agents. You’re putting in more time, spending more money on your business and leads. But now, you’re getting 50% of the income from the deals you’re working with your buyer agents. This is not a bad thing when you have other staff to help with administrative work and lead generation to keep your pipeline full (think Inside Sales Agent (ISA); it can be a beating when you don’t.

By hiring an administrative assistant first, you get all of the non-dollar-producing work off your plate. You free yourself from the tasks that need to get done — listing management, transaction management, customer service, other paperwork, faxing, bank deposits, etc. — and give yourself to focus more time on generating leads and converting them into sales.

The ultimate benefit is that you can make more money, in a shorter period of time, that puts you in position to do bigger and better things with your business...including making hire number two.

Your Second Hire When Growing Your Real Estate Team

One your administrative assistant in place and your sales are coming in at a clip of four to five deals per month, you’re in great shape to make your second hire.

And no, it’s not a buyer’s agent. Remember, you’ve only relieved yourself of administrative duties in your business. You still need to sell homes and bring revenue through the door. Hiring a buyer agent now would still cut into your time and earning power that could — and likely would — stall and/or halt the growth of your business for a while.
Instead, it’s time to hire an ISA. 

The job of inside sales, while important and key to the success of your business, is still a job that you would hand over to someone else instead of continuing to do yourself. 

This person will free you of all the activities with finding good opportunities and nurturing them until they are ready to sell.

This solution puts you in position to focus solely on helping people buy and sell houses...and helping even more of them do it because that’s the main thing you now have to do in your business.

What’s best is that you now have more time and energy to hire buyer’s agents and do a great job in putting them in position to succeed.

Because all the administrative and lead generation duties are now being handled by your administrative assistant and ISA respectively, you have the time to work with and train your agents without worrying that your customer service and lead generation activities are going to suffer.

It seems counterintuitive, I get it. Working with buyers takes a lot of time and can be a huge drain on your energy. Why not get that off your plate next?

It’s simple, the amount of effort and time you would put into transferring your systems, knowledge and skills to to hiring buyer’s agents — in addition to tall the work you’ll put into hiring and onboarding them — could impact your income significantly.
Remember, you are the “goose that lays the golden eggs”. If you’re not bringing money through the door...your business doesn’t run, grow or stay in existence. You need to do “Lead With Revenue” as Gary Keller would say. Hiring people for your team in the order I’ve prescribe here lets you grow faster, easier and way more profitably than any other approach that I’ve seen in the last 20 years.
Now, if you wanted, you could hire another ISA and then hire some buyer’s agents or even another admin — 2 admin and 2 ISAs — before you bring on buyer’s agents. That works, too. Just don’t bring on any buyer’s agents until you have your admin work and lead generation dialed in and handled.

Once you have that squared away, you can grow your business as deep and wide as you want.

Growing your team can be super exciting for sure. It can also be pretty scary. Picking the wrong person, putting the right person in the wrong seat and/or hiring people in the wrong order can put a huge dent in your bank account.

The key ingredient is making sure you always have the ability to continue earning consistent income so you can grow your revenue while you grow your business. If you do that, you’ll always be in the best chance to succeed.

About Author: Jay Kinder

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