Whether you are considering a career in Real Estate or considering a change in your career, you might be wondering what a team is or if you should join one. Sheldon Johnston and Sara MacLennan were live across our social channels yesterday discussing the pros and cons of joining a team, what you can expect from a team, important considerations when choosing a team or brokerage to work with as well as our approach here at Liv Real Estate®. We break it all down for you in this blog post, and the video is linked at the end for those interested in catching the replay.
What are some of the pros of joining a team?
- Teams have a system for generating leads for team members
- They have the structures and processes in place to help agents capitalize on leads/clients
- Team leaders have a vested interest in agent’s success
What type of services and support will a team typically provide?
- Preparation with scripts
- Customer Relationship Management
What is a “super team” and what additional services might they offer?A super team fairly new and is generally a team that has 15 or more agents that work inside their team which works inside of a brokerage. They may offer additional administrative supports as well as 'in-house' services such as; photographer, stager, handyperson, assistants, marketing manager, social media manager, SEO team, client service manager and specialist, etc. Ultimately the services offered vary from team to team, and you will want to discuss the services included with any team you are considering joining.
What are the cons of joining a team?
- Fees and split - agents need to pay the brokerage fees and splits as well as the team fees and splits.
- Long term profitability
- Lack of business growth potential - leads stay with the team, even if they are a return client.
- Buyer’s agent/seller’s agent - often teams will break agents up by specialty, which does not necessarily foster client/agent relationships.
What other considerations should be discussed ahead of joining any team or brokerage?
- Philosophy, Culture and Vision
- Is it about their business growth or yours?
- Are they a good fit for your goals and values?
- The Package
- Training and Support, Fees, etc.
- Do they deliver business to you?
- Where do they get their leads?
- Not all leads are equal, and we share more about this later in this post.