Use this Lead Buyers Agent Job Description to learn what to look for and how to set expectations when hiring or promoting a team member.
Let’s talk about the job description for a Lead Buyers Agent on a real estate team. With real estate teams in general, when you are first starting out, you’re trying to get some admin support. Then, you typically will start to add buyers agents to the team. At some point, once you have a few buyers agents, it will behoove you to allow one of those buyers agents to grow into a Lead Buyers Agent role. Taking a closer look at this Lead Buyers Agent Job Description will help you assess your candidates for that role and make a smart decision for your team.
VIDEO: Lead Buyers Agent Job Description
Who makes a good Lead Buyers Agent?
We are going to give you a free download of our Lead Buyers Agent Job Description. But first, let’s outline a few things to look for when you’re considering who would make a good Lead Buyers Agent on your team.
- Experience. Your Lead Buyers Agent must have sold a decent amount of real estate — 20-40 transactions per year, depending on what’s normal in your area. It’s also important that a large amount of those transactions have come from that buyers agent’s sphere of influence. When it comes to a Lead Buyers Agent, you need them to lead by example. They will be doing a lot of coaching, training, and onboarding for your team, as well as “deal doctoring.” Your Lead Buyers Agent must have the know-how to provide valuable advise to your team members.
- Recruiting. They need to be able to recruit first to grow the team. Your Lead Buyers Agent must have a growth mindset. This will be #1 in their priorities within their job, and it needs to be apparent in your Lead Buyers Agent job description.
Compensation for your Lead Buyers Agent
If you encourage a growth mindset within your team and teach your Lead Buyers Agent to do the same, your entire team will see income growth. This is vital to your success, your team’s success, and your individual agents’ success, too. More business is generated as your team grows by adding more agents. This is why you must focus your Lead Buyers Agent on recruiting!
When it comes to your Lead Buyers Agent’s compensation, it will usually look like 5-10% of the buyers side deals that the team produces. That will be part of their income. You really don’t want to take this out of your buyers agents’ split. This will cause resentment, so avoid this. Take it out of your own income — that way, it will look like you are compensating the Lead Buyers Agent, and it’s not being taken away from the other buyers agents.
This kind of compensation structure encourages growth because the more buyers agents that your Lead Buyers Agent can recruit, the more “passive income” they will be generating. In addition, of course, they will be handling their own sales when they are doing their own business generation.
Why is a good job description so important for a buyer’s agent?
A good job description is so important when hiring because it expresses expectations up front. This is why the free download below will be so helpful to you. We’ve carefully outlined everything that should be expected of a Lead Buyers Agent, and you can edit as you see fit. Make it as detailed as possible to avoid pain down the road!
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