Build a Real Estate Team
Instructor: John Henderson
One basic reason for creating a real estate team is leveraging multiple agents in such a way that generates increasing sales. This model allows team members to focus their talents on the tasks they enjoy or deem most important to their success.
One benefit of a well-organized team is in the creation of an efficient group of multi-talented real estate agents working towards the same objectives. A team of agents can be present in four or five places simultaneously, representing properties in multiple locations. While other real estate business models encourage an atmosphere of friendly competition, teams work in unison to their maximum ability to serve their buyer and seller clients. A well-run team of real estate agents typically shares ideas and tricks of the trade between themselves.
Let’s consider some of the PROS of being part of a real estate team:
Agents can focus their energy and talents into specific tasks.
Agents can receive established administrative and marketing assistance.
Agents can benefit from intra-team mentors.
Agents can share business expenses.
Agents can receive intra-team training to expand their knowledge base.
Agents can learn and benefit from more experienced team members.
Agents can enjoy a shared and balanced work and vacation schedule.
Agents can share systems and tools to increase productivity.
Agents can receive lead generating opportunities.
Agents can enjoy leadership opportunities.
Also, there are a few CONS being a part of a real estate team to consider:
Agents have less flexibility to promote their personal brand.
Agents have less ability to implement personal ideas.
Agents may have stress dealing with performance minimums.
Agents must use established systems and processes.
Agents may have restrictions on their time management.
Agents must learn to get along with various personalities of other team members.
Agents may be assigned roles which limit exposure to learning opportunities.
Agents may experience reduced compensation since profits are usually shared.