Real Estate Sales Manager Job Description – Learn the role of a real estate sales manager and how they supervise real estate sales agents and build a strong sales team.
Today we’re going to talk about the sales manager job description for a real estate team. This can mean a number of things. This could be the sales manager of a large real estate brokerage, or the sales manager of a team, or you could be the sales manger and the broker owner of your brokerage. You could also be the lead buyer specialist or the lead listing agent of your large team. Anyone in a leadership role where we are managing and leading real estate agents, this sales manager job description applies.
VIDEO: Real Estate Sales Manager Job Description
We have a detailed job description for the sales manager of a real estate team/brokerage. If you’re an Icenhower Coaching and Consulting client, you have access to all of our downloadable job descriptions. These are very thorough and easy to edit — because it’s easier to delete pieces that don’t apply than try to think up parts to add.
Why reinvent the wheel? This is why we provide our clients with written job descriptions that they can use as they recruit to their team/brokerage. Because everyone’s situation is different, you can simply delete the parts of the real estate sales manager job description that don’t apply to you.
What is in the real estate sales manager job description and why?
The duties and tasks of a sales manager should be broken down into these three key areas.
- Recruiting. It makes sense to have your sales manager do the recruiting. Your sales manager will be finding agents who will be likely working under them on a daily basis. It’s a good way to ensure that the hire is a good fit for the team/brokerage. Recruiting is so important because it is essential to the growth of your business (and your income.) In fact, recruiting is the most important part of the real estate sales manager job description.
- Productivity training and coaching. This goes hand in hand with recruiting. When your new recruit gets to your team or brokerage, you need to help them grow. Good training and coaching will also help with agent retention. Nine times out of ten, an agent is less likely to leave your office if they are experiencing a high level of production.
- Deal doctor. The real estate sales manager job description must also include this important duty. Your sales manager needs to help agents with issues that come up during transactions. This requires experience in the industry. A lot of people in the real estate sales manager role will want to do this part of their job description the most because it is the most comfortable. You’ll find that they may shy away from the recruiting duties they have because they say they are busy helping agents with transactions. Or they will say they can’t train or coach because they are too busy “deal doctoring.” You must beware of this because this is only one piece of a good sales manager’s job! This is something that is important to do, but it is not a priority.
Put performance benchmarks in place within your real estate sales manager job description
Right from the start, it is important to have benchmarks in place. You don’t want to add them in later. This is essential! Because when the going gets tough, your sales manager may not want to take as many recruiting appointments as they should. And if this is the case, you’ll be able to point back to the job description and hold them accountable.
Two important things that should be in your real estate sales manager job description are RBIs and ABIs. RBI stands for Result Based Indicator, and ABI stands for Activity Based Indicator. An example of an RBI would be the agent count you want to have at the end of each month, or the end of the year. An example of an ABI would be conducting a certain number of recruiting appointments each week. Numbers like these help to quantify the performance of your sales manager.
Having these specific benchmarks in your real estate sales manager job description will save you pain down the road. You will be able to refer back to the numbers and expectations you set within your job description. This will come in handy when you need to remind your sales manager about how important recruiting is. It’s easy for your sales manager to focus on training and coaching or being the deal doctor and neglect the recruiting aspect. Establishing this from the get-go — your key performance indicators — will save you grief down the road.
Compensation for your sales manager
The last piece of your real estate sales manager job description puzzle is compensation. Typically, compensation is based on a percentage and not a salary. This would be a percentage of GCI (gross commission income) or a percentage of the commission split of each of the agent’s closings. You want to provide them with an incentive. This shows them why recruiting is so important. If they are recruiting and meeting their ABIs and RBIs, they will make more money. The more agents you have, the more they will get paid. Trust me, if you have 50 agents on a team or brokerage, your sales manager will make a lot more each month than what they would make if your team was smaller. This is a huge motivator for your sales manager. Their income will grow as the team/brokerage grows.
This can be different if your brokerage or team is very large. This is where a base salary will come into play. This salary should be significant. These range so much and really depend on many different factors. Experience plays a hand, and also location. Some areas will pay 100k, but in more average areas it will be closer to 30-60k per year.
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Sales managers learn by doing the activities
To ensure that your sales manager is performing their tasks to the highest standard, provide them with the tools. Here at Icenhower Coaching and Consulting, we have some online courses that will train your sales manager how to recruit, how to use the DISC assessment, how to coach, and more. Check out our Online Learning Center for a full list of our courses.