Joining or Starting a Real Estate Team? Read This First...

By Tara L. Christianson on Dec 5, 2018 11:04:00 AM

Shakespeare once wrote, “To team or not to team, that is the question.” OK, so maybe that’s paraphrasing a little, but we bet if Shakespeare were around in real estate today, he might have rethought his original text, and for good reason! One of the biggest buzzwords of the past five years is “teams” – specifically, real estate teams. Whether to start one, whether to join one, how to go about hiring for one, the highs and lows of being part of one…all of these things need to be taken into consideration before taking your next step. We asked some of our CENTURY 21 Redwood Realty agents who were familiar with some aspect of teams to share their experiences with you. Here’s what three of them had to say:

Pros and Cons, from a Former Team Member

Century 21 Redwood Realty Fairfax agent Laurel Chinn sees the positives and not-so-positives of working in a team (at least the team she was on). She shares both sides of her personal experience:

“I was on a team for a while and loved the feeling of inclusivity and I know I'm not alone in this! However, I did not like the overall culture as it was sort of militant. I'm all about hard work, but being expected to work 14 hours for little pay and then expected to join them for 'fun' at night and do my lunches with them...which could get expensive...was not cool. While I know not all teams are like that, I am a bit more tentative about teams now. With that in mind, I think I'd vet a team very well before joining because I did like the group feel of the team and not always having to generate my own leads was pretty great!” 

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Rethinking the Team Model

By Billy Ekofo on Mar 28, 2018 7:25:46 PM

 
Teams are formed for variety of reasons: to grow a business while leveraging the tools, brand presence and infrastructure of a well-established agent. They are formed because of the opportunity for residual income to the team owner. They are formed so that other agents do not have to reinvent the wheel when it comes to building their own brands. They are formed because some agents simply enjoy working and growing together as a unit instead of growing separately. In most cases in real estate, teams are formed under a single person whose name, brand and presence drives the business of the team as a whole. this is the vertical/rainmaker model and it is designed to make money. While these team models can all be extremely lucrative, it also pays to stop and think about what you're hoping to get out of your team. Are you forming a  team simply for your own benefit, or are you building something bigger?
 
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