I just got hired to be in charge of commercial real estate team. I am managing the team for the first time.

I really appreciate it if anyone can give me some advise or some tips as to how to manage a team.

Thanks

OMG.... that scarry being the boss and having no idea what to do...

Well here goes some ideas?
1. Hopefully you did not get the job without a lot of Commercial experience...
2. Since you should be very knowledgable... you just need manage info.
3. First you need to evaluate the team... what experiences does each team member have... find out...
4. Then get together and set goals....
5. assign responsibilities..
6. Do you feel the team will feel you are knowledgable enough to lead them.. otherwise may be a serious problem../.
7. ONce the experience level of each member is determined set up a training plan that will allow the smart ones to train the dumb ones..
8. Maybe each has something the other can learn...
9. But its important that you are experienced in commercial enought that the other will want to follow you.
10. No one want to follow someone they feel knows less in general than they do... but it can still work..

Enought rambling...

OH! One last thought, don't ask this type question in a forum that the other members may come across.. its ok to ask for help, but its better the other members think in general you were picked as the leader becasuse you were in fact more knowledgable than the others...
Matter of fact did you ask the broker why you were chosen as the leader... sometimes the hardest worker is not the best leader... I have seen many times the lazy one makes a better leader, as they are better at getting others to do the job because they are too lazy to do it. and they spend lots of time trying to figure out how to get someone else to do thier job... and when you put the real achiever in charge, they end up doing all the work and no one else does anything...
If you had a letter to type and you walked into a room full of clerk typists, and noted that 8 of the them were just sitting around with nothing to do, and 2 were very busy with what appears to be a lot of backed up work... which one of the 10 would you seek out to do your work.....
One of the two busy ones of course... they will somehow find a way to get it done... The others never get anything done and spend all day trying to figure out how to get out of work..

thanks Tom. Appreciate the input. The company I was hired for is a start up company and the ceo wants me to hire some agents to work under me. so, there no team yet. With knowing my qualification, ceo suggested that i be in charge of commercial division. I have two years of full time experience in commercial real estate, majored in real estate in college and took some ccim courses. I have asked the same questioned as to why i should be in charge of Commmercial real estate considering the amount time I have spent in the industry and he said he would rather hire someone with less experience to grow with the team than someone with 20 years of experience. he also said he'll help me manage a team if needed. I am very excited about this new challenge but at the same time I am bit nervous. I know what it's like working for imcompetent leader.
I am just not sure what it's like managing a team and i want to find ways or anything to help me build a good team.

Tom, I really appreciate your advise and if you know of any book or training program that I should look into, let me know.

thanks!

I hope you are getting compensated for building this team.

In commercial you need to know what the focus for the team will be. Commercial is very highly specialized.

Most of the bigger firms that have national clients have gone to property management as most of their clients have huge portfolios they can't sell off so they are getting the brokerage to wring every last dime out of the properties.

Personally I can't stand property management. Almost everything over 5 million right now is not selling. So I list distressed properties and the restaurants and pharmacies are still moving. banks aren't buying many new lots as they are buying vacant banks cheap and refacing them.

What kind of commercial team you set up will determine the tools you need.