Ep. 115: Randall Hannaway on Building Strong Team Culture
What is the most important foundation of your business?\n\nLeads? The market? Location? Understanding the ins and outs of the industry?\n\nIf you\u2019ve been in the business for a while, you might know what I\u2019m about to say: the culture is everything.\n\nYour office culture will be the key to your longevity in the industry. How you interact with others, how you learn and are mentored, and how you eventually take the lead in shaping the industry and investing in future agents and industry leaders.\n\nWhen you master culture, and find one that fits your needs, odds are, you\u2019re going to last. \n\nGet ready to hear all about team, and how Randall Hannaway has worked hard over the years to build an incredible team of more than 75 brokers.\n\nBut before we dive in: have you created your free profile on the Second Home Agents website? Go over and get started: it\u2019s FREE to join. Click here to register, fill out your profile and get listed today.\n\nHighlights of this episode:\n\n\n\nTom introduces Randall Hannaway and his business.\n\n\nRandall started with just himself and one other, and now there are 75 people working with him! He decided that he didn\u2019t want to be the boss, so he found someone to take that role in the office.\n\n\nRandall shares about their office culture and the steps it took to develop a close-knit culture and team.\n\n\nHow did Randall transition from the role of the leader to working as a salesman? He shares the story, and how his mindset helped him step down and make the best decision.\n\n\nRandall is one of 25 owners now: all of the original brokers had the chance to buy shares, and are all now joint-owners.\n\n\n\u201cWhen people become an owner, it changes how they think.\u201d\n\n\nTap into the talent that surrounds you: if you\u2019re in a group, surrounded by people who have gifts and abilities, it\u2019s a shame not to tap into that.\n\n\nBuild your company with a good foundation: build the culture first, and then build the business around that culture.\n\n\nWhen Randall interviews new potential brokers or workers, the main thing they talk about is culture, and how that person will fit in. \n\n\n\u201cReal estate is a competitive business, but we\u2019ve proven we can work together.\u201d\n\n\nTeams that work well together build incredible amounts of trust.\n\n\nHow does sharing commissions work in teams? Tom and Randall discuss some of the ways this impacts the team culture.\n\n\nWhen they get a new team member, they try to match them with a mentor that they connect well with, and have backups in case those mentors are not available.\n\n\nMentors learn so much in the process of teaching others.\n\n\nTom and Randall discuss compensation for those who mentor.