Are there any advantages to working on a real estate team as opposed to working as an individual agent?
There are, in fact: Here are a few things to consider when comparing a team environment to a solo situation:
1. Teams help you maintain a good balance between work and life. Jennifer, my business partner and wife, and I were challenged by this. We have three lovely daughters, and because we were both selling 70 homes apiece, our work-life balance was not good. That’s when we decided to form a team. With hired support to take care of the administrative functions of real estate transactions, we were able to have more time to spend with our family.
2. Teams help you stay educated and find a mentor. I’m constantly learning new things every week so that I can make our business better. Good agents take advantage of educational programs and seek the advice of more experienced agents to help them combat the turbulence of the industry.
“It’s harder to generate leads when you work by yourself than when you work on a team.”
3. Teams allow you to have good systems in place. How do you follow up with your leads? How do you work with your past clients? How do you track your goals? What keeps you accountable for your own success? The key to being a successful agent is to have systems in place to track and measure these sorts of data. Leveraging systems will help you save money as you operate your business and allow you to generate more business.
4. Teams generate more leads. It’s harder to generate leads when you work by yourself than when you work on a team. If you have more feet on the street, you can find and convert more leads. All the members of our team get leads from the team. I don’t want them to rely solely on the leads provided for them, but it does allow them to fill the gaps in their sphere and continue to build their business.
5. Teams can help hold you accountable. Every agent needs to have a means of setting goals and metrics to help them attain those goals. We follow up with our team members’ goals regularly to check their progress. We have a full system to track their goals; it’s visual, so when they walk into the office each day, they can see how they’re doing.
If you’re interested in discussing this topic more, we hold quarterly business planning sessions to help agents build a roadmap that will take their business to the next level. Learn more by visiting www.RealEstateCareers.com.
In the meantime, if you have any other questions, don’t hesitate to reach out to us. We’d love to teach you a thing or two.
