Being a lone property agent was replaced mostly with a team-based method of work. If you are suspicious of this strategy, you have to take into consideration all the pros and cons prior to commiting to clients and your team.
The Advantages of Working in a Real Estate Team
Being part of a property asset team is an awesome way to start your career or climb up the ladder.
Lead Generation Assistance
With a strong flow of feedback from previous clients and a good lead generation programme, a strong team lead will benefit a team. The teams allocate leads for follow-up from team members, who then become contacts for the client. If you are making your first steps in lead gen or always found it hard, then this will offer stable income and assist in building an enterprise.
Developing in Your Career
You will be learning from those who already know a lot if you work woth your team lead and teammates. This realistic experience will surely render you a better agent and offer a chance to fill in the void of your knowledge and practice.
Shared Servicing Staff
Lots of teams actually all chip in into the price of supporting staff like assistants, coordinators for transactions, lead nurturers, etc. This can let you add leverage to the enterprise for a smaller cost than if you were handling this alone.
In a similar way, you will be in the place to share the fees that come with an online presence, creating content, design, branding, special happenings, and other things with your team lead and team members. This will let you make some promo material and initiatives that you wouldn’t have been able to afford alone.
Disadvantages of Having a Team in Real Estate
There are lots of challenges when working with a team. Bear these things in mind before forming a team:
If you want to succeed on your own, you will do this harder if you got a team. The team’s identity usually revolves around the team lead, so it will be more difficult to work on your own and get your name noticed.
Lack of Brand Identification
Similar to the above mentioned aspect, your team will have its own identity that will stop you from creating some things that interest you. For instance, a team that works on in-town apartments will make it harder for you to work with lux property. The team you join needs to aim for the same property niche as you, so that you can move to a personal brand later on if you wish.
The Personality Problem
Teams can benefit or see damage from lots of different personalities in one place. Sure, you will get along with some of the people there, but some of them will not be to your liking. You need to put your social skills to the max in order to cooperate and play nicely. Everything for success, right?
Your broker and team lead will take a part of your commission each time. The smaller cuts will need to be offset via bigger volumes of clients that you will work with. Calculate and see if you got enough bonus commission in order to benefit from being in a team.
Ready To Start a Team?
Maybe you are already successful in this field and want other ways to leverage your ongoing businesses. Take into account team leadership prior to making the step of launching your property team.
- Are you known well enough to support extra agents and staff?
- Will the team assist you in expanding into new sectors and niches?
- Is your branding good enough in order to go into a team brand?
- Are you talented for handling others and assisting them thrive?
- Are your clients okay with having your team members taking over parts of your job?
Whatever your choice, you need to keep in mind short- and long-running goals. Talk to seasoned pros and colleagues who have worked alone and in a team, or even more ideally – as someone leading the team. Be honest with yourself – this is most important, in order to see if you can handle this type of work.