Real estate teams are constantly evolving, but like it or not, they’re here to stay. I’ve been a team leader for over 27 years, and I can tell you that teams are getting bigger, and they’re dominating real estate markets across the country.
Not all teams are what we call mega-teams. In fact, a team can be as simple as a husband and wife partnership. Smaller teams are usually comprised of the rainmaker plus one administrative assistant, who may be licensed or unlicensed. A medium-sized team has the team leader, who’s responsible for listing the properties, and buyer’s agents, who handle the buyer transactions. A medium-sized team also has an administrative assistant, who is typically licensed, so they can assist with the closing coordination.
A large team still has the rainmaker doing the majority of the listings, but now there is more than one administrative assistant and two to four buyer’s agents. Mega-teams are structured to include multiple listing and buyer’s agents, administrative positions and transaction coordinators. In this structure, the team leader is almost operating a mini-brokerage within their brokerage. These types of teams may eventually open their own real estate brokerage in order to take their business to the next level.
Twenty-seven years ago, teams were a new concept, and we were pioneers looking to maximize our systems and lead generation to create the ultimate profit center. Today, there are a variety of ways to operate a team in order to be cost-effective and profitable.
There are also teams that have grown too big, too fast. These teams almost always end up spending all their profits feeding massive lead-generation systems.
To be successful at growing a team, I would recommend that you start small. Before you add more people into your organization, make sure there’s enough consistent lead generation to keep them fed. Consistent is the key word here. Buyer’s agents who are hungry will leave your team. Seek out the top-producing teams in your area and ask questions. Learn from those who have come before you, and never stop looking for ways to maximize your output.
Nate Martinez is the broker/co-owner at RE/MAX Professionals in Glendale, Ariz. Nate has 30 years of experience in real estate, is seasoned in negotiations and holds the prestigious ABR®, CRS, GRI, e-PRO® and SFR® designations, among other certifications. He firmly believes in the value of education, having trained hundreds of real estate professionals as a speaker, and is currently a coach with Workman Success Systems. Contact him at email@example.com.
For more information, please visit www.workmansuccesssystems.com.
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