One of the first steps that a newly licensed real estate agent ponders is whether they want to join a real estate team.
Real estate teams are divisions of agents within a brokerage who work together to address all of a real estate agent's responsibilities, including generating leads, marketing properties, and servicing client needs. While some agents might prefer to work independently at their brokerage, there are numerous advantages to combining resources with a team.
Real Estate Teams Share a Network & Knowledge
Independent agents, particularly new ones, need to work hard to establish a network and get their foot in the door. Working with a real estate team allows agents to access the networks and experience of their peers.
While developing relationships with other agents, it's easier to make networking connections and learn more about the business to further one's career. Team members can share in the workload to allow newer agents the chance to better grasp more aspects of the real estate industry.
Real Estate Teams Can Combine Their Marketing Power
Working together as a team enables agents to combine tasks that help convert leads. By sharing tasks including:
- Social Media Efforts
- Door-to-Door Sales
- Contract Negotiations
- Community-Driven Events
- Home Showings
The exponential value of marketing can not be underestimated. In fact, real estate agent surveys show that marketing is the most time-consuming task in most agents' workdays. Working with a real estate team can help grow the business faster and assist clients more effectively.
Real Estate Teams Increase Your Availability For Clients
It's hard to be off the clock when you work in real estate; you never know when your phone might ring with time-sensitive information. People who work solo might not be able to respond in such scenarios. By working with a team, all members can increase their availability to better serve clients.
Having fellow agents means that securing leads and establishing trust with established clients is easier. This is important because the real estate industry is fast-moving, so more availability can equate to more satisfied clients.
Real Estate Teams Can Provide Opportunities to Specialize
If you're joining a real estate team, you might find it easier to specialize in a specific type of real estate. Agents interested in focusing on winter homes in the mountains or waterfront properties know that many of these homes are seasonal. This means agents working alone must branch out during the off-season.
By joining a real estate team, each member can specialize in one area of the market. One can take point on property types in their niche during high season and provide support in other specialties for the rest of the year.
Real Estate Teams Can Support a Better Work/Life Balance
When working with a team of agents, no member has to be on call constantly to meet clients' needs and demands. Distributing the workload among a team allows agents to establish a healthy balance between life and work. This means more time to spend enjoying hobbies, relaxing with loved ones, or doing anything else that restores you to perform your best at work.
Agents working on their own will have to be available for every real estate transaction. This is why many agents prefer working with other established agents. By taking this approach, agents are still sole proprietors in charge of their work/life balance instead of being at the mercy of the market 24/7.
Is Joining a Real Estate Team Right for You?
As mentioned earlier, being part of a real estate team can be a positive experience for agents of any experience level. New agents can expand their knowledge and skills with access to mentors who've been in the game for a while. Similarly, all agents on the team and clients can benefit from shared resources. When backed by a great team, many agents find themselves in a better position to build their careers.
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