Real estate teams have been around for 30 years, and right now, they’re trendy. But should you join or create one? Like the personal brochures, moving vans and social networking fads that came before them, teams are the new soup du jour.
But not every agent should have a team. Most agents build them without knowing their numbers and then live to regret it.
As a broker, should you encourage teams?
You’ll be surprised at the reasons why you shouldn’t, including how teams fare in changing markets and what it can do to your motivation and mood.
In our multipart series, we’ll break down the pluses and minuses to having a team and flying solo.
You may think you’re in the business to sell real estate, but you’re in the business to make a profit.
The larger your team, the harder it is to make a profit — especially in a shifting market.
As revenues decrease and fixed cost increases, you can find yourself stuck between a rock and a hard place.
Join us in today’s episode as we discuss agent teams at their various levels, with level one being the single agent model, in which you have low monthly costs and you control the process.
You reach level two when you add an administrative or virtual assistant. You may feel uncomfortable with that idea, but it allows for much more flexibility as you build your business.
With this model, you can focus more on dollar-productive activities, but the flip side is the added cost and potential personnel management.
You may feel overwhelmed at times, but don’t let emotion or ego cause you to build a team until you know all the facts.
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Tim and Julie Harris have over 20 years’ experience in real estate. Learn more about their real estate coaching and training programs at timandjulieharris.com, or request more information about their programs at joinharris.com.