Teams are often the highest contributors to brokerage sales volume, making them a critical part of today’s real estate landscape. Teams are also one of the fastest growing segments in real estate, so it’s important for brokers to make an effort to do whatever they can to recruit and retain teams in their organization.
Unfortunately, many brokerages aren’t set up to provide top-down support or the technology needed for a team structure. Even brokers with the best intentions struggle to provide comprehensive team support, due to the fact that a majority of broker-provided tech solutions are positioned to be adopted by single agents. This unfortunate truth often leaves teams scrambling to figure out how to effectively and efficiently run their business, and it usually requires spending their own money on necessary tools that their broker isn’t providing.
Not surprisingly, this familiar scene leaves many agent teams frustrated and questioning if another brokerage might be a better fit. This lack of support sometimes forces teams to search for a new partnership with a broker that appreciates the value they can bring; one that’s willing to help set them up for success.
Fortunately, industry technology has improved in recent years and there are solutions today, like kvCORE Platform from Inside Real Estate, that effectively support teams and individual agents on one platform. These platforms can be scaled to accommodate brokerage-specific needs at every level. That means broker-owners have complete control, but can also allow their teams and agents to customize the platform to fit their needs, and create their personal and private platform within the broker platform. Furthermore, teams benefit from having advanced tools designed to support them as a business unit.
So what exactly is the ‘team tech’ that real estate teams need to thrive?
Teams need an extra layer of sophistication to support their unique business model. Here’s what brokerages should be offering to their agent teams, and what agent teams should be demanding from their brokerage:
- A secure and private database to house contacts
- Team-driven and team-owned lead generation tools
- Team lead-routing tools and accountability settings
- A team dashboard that displays at-a-glance performance data
- A website that supports team branding
- Seamless integration with popular third-party team-driven tools
- Access to brokerage-wide solutions, such as transaction management software, inside of a native platform
For brokerages looking for a way to keep teams happy and thriving, providing a comprehensive platform that fully supports the team business model is a must. For example, kvCORE Platform not only provides brokers and agents with the tools they need, but it also has a built-in team module. This module, designed to provide critical ‘team-tech’ tools for agent teams, can be added to any kvCORE Platform at any time.
It’s reasonable for new and existing teams to expect brokers to provide access to technology that will help them thrive. In turn, brokerages need to understand the importance of providing top tech solutions that cater not only to individual agents but also to teams.
Providing agent teams with the support they deserve is a move that will continue to pay dividends for many years to come. Forward-thinking brokerages that are willing to proactively support agent teams by providing ‘team-tech’ solutions can use this differentiator to recruit and retain top team talent. Teams represent a significant percentage of production, so not only does this help boost the brokerage’s reputation among teams, it will most certainly boost their bottom line.
