Working in teams in real estate is an excellent way to increase productivity while splitting the workload. Real estate team members with common goals and similar work ethics make for effective teams.
If you’re considering joining a real estate team or building your own, we have all you need to know about them here. Keep reading to learn about the pros and cons of real estate teams and what positions are available!
What is a real estate team?
A real estate team is when two or more real estate agents work collaboratively to sell properties and split the commission. Together, the agents manage clients and listings, merge marketing ideas and plans, and generate as many leads as possible.
How do real estate teams work?
The point of real estate teams is collaboration. An efficient real estate agent team is all on the same page so that any member or agent can service clients’ needs.
Positions on a real estate team
Real estate teams usually have a team leader who oversees tasks such as:
- Lead generation
- Hiring and mentoring new team members
- Goal setting
The other real estate agents on the team share responsibilities, such as following up with clients. Most agents on real estate teams usually specialize in buying or listing.
Support team members can include showing assistants, administrative assistants, and marketing coordinators.
Pros and Cons
While joining a real estate team can benefit you as an agent, there are pros and cons.
Pros
One pro is that a real estate team makes it easy to split tasks. Every real estate transaction has several steps, so having each team member focus on a specialized area is beneficial.
Additionally, the team can also meet regularly to brainstorm, share ideas, and work toward common goals.
Cons
Although sharing tasks with other agents may make your work-life balance easier, some clients may prefer meeting with the same agent each time.
Another con for teams in real estate is the burden of legal considerations. For example, as a team member, you must ensure that any unlicensed agents are only engaged in work that doesn’t require a license. You are responsible for following state regulations for your team’s name. All members must make sure that all client information remains strictly confidential.
Finally, while some agents don’t mind, you split the commission when you’re on a team. If you decide to join a team, expect to agree to a set commission amount.
Showcase your real estate team with Virtuance
Together, your team can spruce up your marketing with Virtuance’s professional real estate photography, proving the value of teams in real estate.
There are plenty of ways to use real estate pictures in your marketing, grabbing the attention of buyers and sellers in your market and giving your team a consistent image. Even better, every order comes with a single listing website and our Marketing Suite, giving you access to even more marketing enhancements.
FAQ
If you want to expand your business opportunities and collaborate with others, then you should join a real estate team. There are many benefits to joining a real estate team, such as learning from other professionals on the team, splitting a large workload, and the ability to brainstorm ideas for marketing.
Yes! Almost a quarter of real estate professionals work in a partnership or team. It gives them a collaborative support system that helps them reach common goals.
