Ep.37 - Doug Edrington: Team Building and Leadership

IMPACT Agent Podcast

Today, "Team building" is one of the hottest topics in the industry. In this episode, Agent 251 sits down and talks with Doug Edrington (Real Estate Brokerage owner and team leader in Chattanooga, Tennessee) during Tom Ferry's Success Summit in Anaheim, Ca. Doug shares his career journey, insights on the ups and downs of building (and rebuilding) his team, developing mindsets and process to reach your goals, and the importance of leadership and structuring your team members to maximize their success and your company's growth.

Key Takeaways:

> Starting your own team is not for everyone

> Think big. It's the best way to reach that next level in your business.

> Just because you are a rockstar salesperson it doesn't mean you are a natural leader, teacher, or mentor.

> Learn to become a strong leader in your ownership, management, actions, and example.

> Invest in your team instead of focusing on what a team, or team member, can return.

> Recognize, hire and develop impact makers to become leaders.

> Be able to delegate and clearly communicate your vision, compensation, and decision-making.

Quotable Quotes Team leaders typically are a team leader because they were just a good performer. They were able to create a lot of business. And they thought that "Well, I'm just gonna bring people on," but that doesn't mean that they're necessarily the best manager. - Doug Edrington

Want to grow a team? Have a clear vision and an organizational chart. - Doug Edrington

Thinking really big will help you just get to the next step. - Doug Edrington

I'm not failing. I'm just learning. - Doug Edrington

Have a mindset of you're going to fail. Just fail forward, fail quickly, and adapt quickly. - Doug Edrington

Our buyers need to have the right expectations. - Jason Will

As a team leader, show your team where they can grow in your business, and your team members are more likely to come to you and have a conversation about, "How can I grow within our business?" - Doug Edrington

If you're going to build a successful team, I think you have to gain some fulfillment by seeing others succeed. - Doug Edrington

I didn't do any self-reflection about who I am as a leader, where I want this to go. And for nearly a decade, it was just like hitting my head against the brick wall. - Jason Will

I need to start not looking for what people can give me in terms of return but how can I invest in them. - Jason Will

If you're thinking about making a tremendous amount of increase in sales, I would first ask you how do you make a tremendous change in your business to be able to handle it and scale with it. - Doug Edrington

What got you here won't get you there. - Doug Edrington

The last time I checked, no one starts a business and does it just right the first time. - Doug Edrington

Ff you're really communicating accountability in the right way, then you're helping your team members understand that the accountability is one of the main selling points. - Jason Will

Do you have a one-on-one with your team, every single person on your team? - Doug Edrington

Your leadership conversation, all the way down to every person, the agent, and the assistant. Have clarity on three things: ownership, compensation, and decision-making. - Doug Edrington

Ownership, compensation, decision-making, if you don't have those three things crystal clear between anybody in your organization, you're going to have chaos. - Doug Edrington

I'm only looking to hire leaders because I want to impact people that want impact somebody else. - Doug Edrington

Just because you're good at doing something doesn't mean that you're a good teacher. And nobody's naturally a good teacher. I've learned this. You have to be taught. - Doug Edrington

Figure out what you're really good at, what you're passionate about and stay in that lane, and delegate and leverage others to help you do the other pieces that you don't want anything to do with. - Doug Edrington

Not everybody is cut out to go out and build and run a real estate team. - Jason Will

Just because there's a lot of noise in the industry about it (building a team model) right now doesn't mean that that's the right place for you. - Jason Will

You might be a tremendous salesperson and salespeople make all the money. So don't think of it as a status. Think of it as how can you leverage your skill to reach your goals… - Doug Edrington

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We would like to know what you think about the Agent 251 podcast, especially this episode. Do you agree with Jason? Did any of these ideas help you? Do you disagree with any? Let us know by contacting Jason at [e-mail].

Thanks for listening.

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