Tuesday, December 26, 2023 / by Jiselle Bersabe
Embarking on a career as a real estate agent presents a promising path to success. Yet, for those commencing their journey as independent agents, navigating the highly competitive industry can pose challenges. Fortunately, a valuable solution is to become part of a real estate team. Such teams consist of collaborative agents engaged in various aspects, including lead generation, listing management, client acquisition, and commission earning. Working within a team fosters a sense of unity, enabling everyone to share experiences and enjoy the collective advantages.
ARE YOU LOOKING TO JOIN A REAL ESTATE TEAM? HERE ARE SOME BENEFITS OF DOING SO.
1. YOU DEVELOP YOUR SKILLS FASTER
By joining a real estate team, you get to work with and learn from already-successful agents and veterans in the industry. This means you can quickly improve your knowledge and gain first-hand lessons from their experiences.
You’ll be exposed to different ways of thinking and unique approaches, which will help you determine which one works best for you. You get to build essential skills — communication, negotiation, problem-solving, sales, time management — through real-world application with actual buyers and sellers.
As you’re around experts, you will have people to answer your questions about the industry and guide you through challenging situations. This gives you the opportunity to fill the gaps in your knowledge and own practice.
2. YOU GET HELP WITH FINDING AND LANDING CLIENTS
When you join a real estate team, your sphere of influence will expand and you will have access to more clients.
Many strong real estate teams have a steady flow of referrals and a successful lead generation program in place. This means you get the opportunity to network and meet more clients as leads start being handed to you. Plus, it will be easier for buyers and sellers to rely on you if they know that you have a solid team backing you up.
Ultimately, being part of a team will provide you with access to more contacts, which can lead to consistent revenue — and potentially help build your own influence in the industry.
3. YOU HAVE A STABLE SOURCE OF INCOME
One of the challenges of being a solo real estate agent is the unpredictable income. You can have an amazing month with stellar sales, then a month or two with little to no sales at all. And this cycle can get really frustrating.
However, when you join a real estate team, there is constant work to be done because you have a steady flow of leads and clients. You will continuously create market listings, show houses, meet sellers and buyers, manage clients’ needs, and coordinate with other agents.
When you’re part of a team, you won’t scramble for listings or clients to work with. Your income will be far more consistent and predictable, making your work more stable than going at it on your own.
4. YOU SHARE EXPENSES AND RESOURCES
Being a successful real estate agent entails administrative and management expenses. This includes fees for brokers, licenses, the MLS, office spaces, and business expenses.
When you join a real estate team, you can worry less about these things. Having a shared staff will reduce the costs of lead nurturing, transaction coordinators, and other staff support. You also get access to useful books, tools, and learning materials essential to your success.
Additionally, you can share the cost of effective marketing for real estate agents — branding, content creation, graphic design, special events, and web presence. This enables you to create promotional materials that a solo real estate agent might not be able to afford.
Essentially, joining a real estate team can be cost effective as you gain access to many essential benefits as a group.
5. YOU SPECIALIZE IN YOUR DESIRED FIELD
One of the most important steps to becoming a real estate agent is choosing your area of specialty. And when you join a real estate team, you have the opportunity to do exactly this.
When you work alone, you’re likely to need to branch out. But when you’re with a real estate team, you can do more of what you’re good at. Activities that are in your weak areas can then be delegated to people with higher levels of competency.
In teams, you can also choose your area in real estate sales — either as a buyer’s agent, listing agent, or inside sales agent. This is because they understand that specializing can yield better results for the whole team.
6. YOU ENJOY BETTER WORK-LIFE BALANCE
Many real estate agents believe that the more hours they work, the more they earn. That’s why they want to always be on call or work almost 24/7. And if you’re working solo, you’ll want to be present for every transaction and all correspondence with clients.
However, when you join a real estate team, you get more flexibility with your schedule. When you’re out with clients, someone can answer your calls in the office. When you’re busy securing a new listing, a teammate can take on your open house. When you’re occupied with new clients, someone can stay in contact with the current ones to ensure their transaction is progressing.
Your team will also be your trusted backup during the times when you’ll need some personal time off. When you need to spend time with your family, see the doctor, go on a vacation, or simply enjoy your hobbies or leisure time, you’re sure to have someone to cover you.
Essentially, when you join a real estate team, you can free up more time to have the lifestyle you want. You can enjoy a healthier work-life balance.