First, what’s the difference between a real estate team and a brokerage? A real estate team is a smaller group within a brokerage. So, if you sign onto a brokerage, then you would be a solo agent. You could have varying degrees of support, depending on the brokerage, but essentially you are working for yourself.
If you join a real estate team within that brokerage, you now have a group of agents (2-8+). They perform all of the real estate duties together, such as lead generation and managing listings. They also collect commissions together. Under the team structure, there’s usually one team leader, and there may be specialists such as a transaction coordinator. Everyone will work to bring in and secure leads, and everyone will be able to reap the benefits. Are you comparing different career paths? Be sure to check out: Assistant vs Team vs Solo.
A real estate team has many advantages for beginning real estate agents.
Learn From and Network with Your Peers
Combine Your Marketing Power
Be Available to Do Any Real Estate Duty at Any Time
Achieve Better Work-life Balance
Increase the Predictability of Your Income
You Can Specialize in the Area of Real Estate You Desire
Learn From and Network with Your Peers
Even if you want to become a successful real estate agent and business owner, it can be difficult when you don’t know what you don’t know. When you work in a small team, it’s like working as an individual agent in a small real estate business. You can share efforts such as marketing, while you reap the benefits of team culture. You will get close to other agents and learn more about all aspects of the industry. You might like: What Does a Typical Day Look Like as a Real Estate Agent?
Combine Your Marketing Power
Your entire team will be able to combine your marketing, including social media efforts, door-to-door sales efforts, and engaging with the community at events. Even better, those that excel at one of these can drive that area of marketing, while someone else can do what they enjoy. Learn about: Low-cost (and no-cost) Ways to Grow Your Real Estate Business.
Be Available to Do Any Real Estate Duty at Any Time
A client calls, but you are out of town. If you were a solo agent, you might miss that opportunity completely. Fortunately, you are on a team, and a teammate takes care of the client immediately. Working in a team means that you’re more likely to be able to capture and secure leads at any time. But it isn’t just for leads. As a team, it easier to stay timely with social media, newsletters, short videos, etc. It even makes paperwork and purchase agreements easier, if there are several people to schedule inspections, make sure all paperwork is correct, etc. Don’t miss: How to Get Listings Without Cold Calling
Achieve Better Work-life Balance
Every experienced real estate agent knows that you make money based on the number of hours you work. But that doesn’t mean that you want to always be on call. Team allows you to open up time for your lifestyle, whether it is for family, hobbies, worship, or more. Want to learn more? Check out: Do Real Estate Agents have High Job Satisfaction?
Increase the Predictability of Your Income
One of the most common complaints about real estate, especially for a new agent, is the unpredictability of the income. You could make three sales in a month and then have no sales for the next three months. It’s extremely volatile. If you’re an agent with a team, Many people are bringing in the commissions, so it tends to even out the months. The money will come in far more steadily, making it easier to plan ahead. You might like: How Much Do Real Estate Agents Make
You Can Specialize in the Area of Real Estate You Desire
Let’s say that you only want to specialize in waterfront properties; however, they are very seasonal. If you were working alone, you might not be able to specialize in that, because you may only have sales in the summer. With a real estate team, you can concentrate on waterfront properties — as long as you’re pulling your weight. If you just want to be a listing agent or a buyer’s agent, that might be possible, too. You might enjoy: The Future Job Security For Real Estate Agents.
So, Who Should Join a Real Estate Team?
For new agents, joining a real estate team is generally a good choice. It allows you to benefit from the experience, knowledge, and skills of other agents while also building your own career. For experienced agents, it also has its benefits. It lets an experienced agent concentrate on the areas they want to focus on while providing them a buffer in terms of finances and labor. With the right team, most agents are going to find themselves being far more effective than they usually are. Be sure to check out: How to Choose the Best Brokerage
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