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Key Benefits of Working as Part of a Real Estate Team

real-estate-teams

“Teamwork Makes the Dream Work.”

Whether you’re a rookie agent starting out in the industry with stars in your eyes and big dreams, or an agent with some experience under your belt, it can be a tough haul achieving success. Approximately 87% of agents quit in their first 5 years. So do you struggle solo or work as part of a team?

Of course, there are pros and cons for both but today let’s go through some of the key benefits of working as part of a real estate team:

  • Faster results and commissions with less risk. New agents with no experience can find it challenging to start generating leads and learning the ropes. Sometimes it can take months if not years. Working as part of an experienced team means that others have already figured out what works and what doesn’t and there should already be a flow of leads and listings. The hardest part of real estate is generating leads that convert into listings and if they are handed to you, what could be better?
  • Balance of skills. You may be expert in marketing or admin or negotiation or generating leads but chances are you won’t be strong in all areas. Working as part of team is a wonderful way to divide the tasks depending on strengths. It also allows members of the team to skill up in the areas they may be lacking in. The balance of skills should mean that the team has strength in all areas.
  • Accountability.  If you work as part of team, you keep each other accountable. There is less chance of procrastination than if you work alone. It’s important to know who’s responsible for what and then you don’t have the luxury of just not doing it or putting it off until another day. The team can only work successfully if everyone is accountable.
  • Collaboration.  Working as part of a team means you can not only collaborate on effort and tasks, but also on ideas. There is nothing more rewarding than brain storming new ideas and putting them into action.
  • Mentor.  If you work solo, it’s much harder to have a mentor on hand all the time. The principal or other agents may lend a hand or give you advice from time to time, but as part of a team, the team leader will be there to learn from consistently.
  • We experience instead of me experience. If you don’t have an amazing list of results to discuss with prospective sellers, it’s great to be able to use the experience of the group – we sold this property or we auctioned that property – until you have some of your own results. This gives you confidence as well as the vendors of the property to know that the team has proven experience and results.
  • Shared expenses. You may not be happy to have shared commissions but you will be thrilled with shared expenses!

Real estate teams aren’t only for rookie agents either. For some agents they just prefer to share the workload and also to receive leads rather than generate them themselves. It also suits those agents who want more balance in their lives.

Working as part of a team can be enormously rewarding and lots of fun especially if the team members are well suited. Successes will be celebrated together, and failures will be commiserated together. So these are the key benefits, in our opinion, of working as part of a real estate team.

Watch out for our blog on the key benefits of working solo in real estate!

 

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