Admittedly, the title of this column is a bit of an oxymoron. As we continue to learn with each issue of RISMedia’s Power Team Report, and as team after team we interview continues to demonstrate, there is far from one successful way to model and manage an agent team.As Cliff Baird notes in this month’s article, “Success from Many Models,” (page 7), the three teams interviewed “illustrate that success is available in a variety of cultures and models.” Whether it is the classic husband-and-wife team of two or the 75-person Green Team from The Hasson Company Realtors (see how they’ve capitalized on their unique “green” niche on page 4), agents are reaping the benefits of the team concept in a variety of ways.
Clearly, the key to a successful team model does not lie in the number of players on the team, but in choosing the right number of team members based on the team’s productivity potential. Manhattan-based Jackie Teplitzky (right), for example, realized that forming a team would help her capitalize on the many Manhattan neighborhoods and their respective price ranges. Having a team has enabled her to profit no matter which end of the market is hot. Because of that, she has exceeded or matched the previous year revenue-wise, year after year.
Choosing the right team model also has a lot to do with the operation of your brokerage and how they allocate fees. For example, are you paying a fee for each team member or is the broker taking a percentage of your commission only as the team leader? Does your broker cover your overhead costs or are you pitching in based on the number of team members you have? Factors like these are obviously central to choosing your team model.
Arriving at the right team model also has a lot to do with the ability to maximize the various strengths of fellow agents. If someone is strong in areas where you and other team members are weak, adding them to the team will ultimately pay off in increased business. Increasing the team for the sake of growth alone, however, is a futile, and most likely counterproductive, maneuver. The best teams succeed because everyone brings something different to the table, paving the way for a supreme service experience for your clients.
As we continue to garner the best practices of Power Teams, we will keep a careful eye out and report on successful team models. But remember: only you can determine the model that will work best for you.
Wishing you continued success,
John E. Featherson
CEO & Publisher
RISMedia’s Power Team Report