Episode 17 of the Freedom Real Estate Group vlog (hosts Flip and Danny) explains the importance of a great team. They outline the high cost of turnover (quoted as 60–100% of an employee's salary), describe their strict pre-screen/interview process and use of assessments (Predictive Index), define A-players and the harm of lower-performing teammates, and describe culture/retention measures (office amenities, role placement, equipment). The episode closes with a CTA for A-players to apply and a note that related podcast content will dive deeper.
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Hey, everybody. Flip and Danny here, co founders of the Freedom Real Estate Group family of companies.
And Today is episode 17. Are you gonna do it? Thank you. Of our vlog series, which is intended to be a day in the life of the Freedom Real Estate Group family of companies and its team members. In today's episode, we're talking about the importance of a great team, which is very important. Yes, it is.
Now, first of all, the importance of a great team. Let's talk about the bad side of this, and that's turnover. Turnover is one of the costliest things for a company.
Yes.
Now, for example. Well, we're gonna give us some more stats here in a second.
Yes.
But you've got to. You got to hustle to fill in the gaps when people leave. You got to pick up where they've left off and try to figure out what they were doing because they didn't tell anyone what they were doing and what they weren't doing.
That's right.
You got to create the job ads. You have to screen, do the pre screening and then the interview, which. You're going to talk about that here in a second.
Yes, I am.
Then you have to hire and then you have to train them because they don't know what they're doing when they came on. And they say that the cost of a hiring, so someone new or losing someone, depending on which way you want to look at it, can cost 60 to 100% of that person's salary. So if that person's a $50,000 or a $60,000 employee, you're looking at 60 to 100% of that salary that you have just basically just set on fire, throwing it away, whatever you wanted just to train and just the time that it takes to do all of that.
Yeah. So we thought we would hit on that pain point of the why it's important to have a great team. And now let's talk about some. Some of the importance of having a great team. Why do you want a great team? Besides the cost, besides the pain point that we just shared with you, what else is important about that? It's because if you're an A player and you're watching this, an A player is just one of those people that is going to take the bull by the horns. You don't have to be micromanaged. You're given something, you're taking it to the finish line. Randy always likes to say, you've got football. I want to see you run, and I want to see you run all the way to the End zone. And you want that reliability in your team. That's what we consider A players. There's a lot of other attributes that we can talk about, but that's an A player. A players want to work with other A players. If you put a B or C player on the team, they're not reliable. They keep on screwing something up. They're just kind of lazy. They're just not moving fast. They don't understand the urgency of building a business and accomplishing all the goals that you want to do. It frustrates us as a player. It's just like, ugh, I can't even accomplish what I'm trying to accomplish because this person over here who's a piece of the puzzle isn't playing at my level. So we want to win the championship and we can't do that with B and C players. So. So it's very, very frustrating to be able to keep your top talent if you're hiring lower level talent. So that's one of the things. And also here's our pre screen reference. How important that we have made this. I told Flip I was gonna tell you a story. Cause I've just spent two hours with my executive team, my executive assistants in pre screen interviews. Cause I'm teaching them how to do it so they can take it over. Cause I'm literally bit by bit trying to take off my plate to put on their plate so that I can start doing higher level things. I can only do that if I'm working players or they're willing to be coached to a player status. So we're on these pre screen interviews. We are. We've got printed out their resume. We've got some red flags that we want to ask questions about. And these interviews are literally 10 minutes. It's just a. I want to get a feel for you. I want to ask some quick questions because if you raise a red flag right now, you're out. That's how strict we are. Because that's the importance of our top level players. We don't want to frustrate them. We don't want to spend the money hiring and training somebody that ultimately isn't going to work out. So we just went through five different interviews. One was for an acquisition. Acquisition specialists in our acquisition company. One was for a roofing sales guy. I think he's the one of five that definitely went past. Otherwise, that's how strict we are. It's crazy. You got to be good to work here. We had two for an admin position with us and Then, oh, there's one that's we're in the middle ground. I actually told them, I said, let's not knock them out just yet. Let me talk to Flip tonight. And so I'm going to talk to you about that. But I mean, that's how important it is to us that the level of player that we get in this company.
Now, some people do pull off a good pre screen and a good interview and I like to call them the fake A players. And the fake A players, they do get found out because they can't maintain faking it, you know, the fake it till you make it. They can't maintain that being a fake A player for so long and they get found out very quickly. And they've been found out here many times.
Yes, yes, yes. We've made enough mistakes. We're getting better and better and better. And that's why we say no faster. You know, one time I, we got off the pre screen and I looked at my two executive assistants and, and I said, what do you think? And boom. They're both just like, no or, you know, they both have the same reaction. I know. What I love about that is because I know that they're going to be good, you know, taking over for me for pre screens.
So what do we, so what do we do here to keep a players? It's not easy to keep them. I mean, just being other A players, being able to work with them, that doesn't keep A players.
Yeah.
So we make sure that the company culture is to that level. We've. And we call it the frag cafe. We've got a ping pong table, a foosball table, a video game. We have TV in there. And we make sure that, you know, if they want to blow up some steam, they've got places to go. If they want to have a big lunch together, they've got somewhere to go. We've got an innovation room that's got multiple couches and beanbags and, you know, just that's where most of most of our library is now too. And so that way they can just relax and just do whatever they can kick back. We do have a room here for a gym. We're starting to put more and more equipment in there as well. Right now we just have two treadmill desks. So if you want to go in there and walk while working, you can. But anyway. Yeah, exactly. But we make sure that everyone has the right software, everyone has the right equipment to maintain that level of being an A player. We don't Just throw a computer at them and say, here you go. So we want to make sure that that's very important to keep them here. We also use hiring software. We use something that's called predictive Index. Now, this is an assessment that we make everywh1 take prior to the screenings.
Yep.
And in fact, actually, our name tags that are on our doors here, we brought ours in here, so it has our name on it. And then over here on the side here, it tells you what our personality assessment is from the predictive index. I'm a venture, she's a venture, I am a collaborator. And so. And these. These are on everybody's name plates are on the office because we want to have the right people in the right seat. We've had a number of people that have come on board, and they were the right person. We're like, oh, my gosh, this guy's amazing, but not where he should be. He needs to be over here. And so we've moved people around to put them in the right seat. And one of the books that Danny just finished, I haven't cracked it yet, is the who, not how, making sure we're getting the who's in and not Horton. Here's a who, but the who's the people who, not the how, into this office. So that way, again, it keeps that company culture and A players working with other A players.
That's right. So we're supposed to be keeping these vlog series videos to three to five minutes. So I don't know where we're at right now, but we're gonna shut it down, because like we've said before on our podcast, we're gonna be beginning to mirror our vlog. So if you hear us on a vlog talk about this, it's likely next week. We're diving deep into it for the podcast, so at some point in time, you guys can start asking questions. And we're gonna take those questions, we're gonna talk about them in the podcast so that we can dive deep into topics that you guys want to talk about. So I'm gonna shut up, and we're gonna end this one. We hope that you enjoyed it, hope you hope it brought a little bit of value for those of you who are out there hiring. And if you want to, you're an A player. Come on, give us a call. All right, so we're going to start ending all of our stuff with Invest Smart, Live Happy. Bye, everybody.
