Surgeons do it. Lawyers do it. Even electricians do it. Truth is, most professionals work in teams because it makes sense. So, if two heads are better than one, what about 9? Or 19? Look around: real estate broker teams are growing in popularity, as are the number of people who make up each team.
While the two-person real estate team has traditionally been popular, some are choosing to work in even larger group settings. It’s not the husband-and-wife team of old with a couple of assistants thrown in, or two brokers sharing the cost of advertising...
everyone contributes; on the larger teams, everyone's an expert, so better results are achieved and ideas shared. It also helps the team stay personally sane since working 75 or 80 hours a week is really tough, especially if there are families and partners involved. On the larger teams, instead of dividing work evenly, each person plays a specific role in the real estate sales process in order to get a deal done. Some team members work in the office, dealing with marketing, closing or creating new business while others focus on real estate showings and working outside of the office. Clients have their initial presentation with one of the team leaders and then may work with a series of other members of the group as the transaction progresses.
Yes, you could hire a real estate assistant, but the kind of person you’d likely want as an assistant wouldn't want to stay an assistant for very long. Having a team means more than just support in terms of ideas and business; different personalities and approaches also help gain clientele. Meeting each week to discuss details, asking for input and giving feedback almost certainly makes things easier. Try this link on for size:
Power Teams - The Complete Guide to Building and Managing a Winning Real Estate Agent Team byJohn Featherston and Ralph R. Roberts, both of whom are experts in real estate. See what they have to say about the advantages of the team model.
For those hesitant to start sharing real estate profits from their hard work during tough economic times, know that you'll likely find the synergy of working with others will work
for you. Truly, the real challenge is putting together a team of balanced personalities who are all willing to contribute equally, but in different ways. Instead of wondering if the team approach would work for you, why not contact several other real estate brokers whose work ethic you respect and just...do it?