In a market with higher interest rates and less certainty, you might be hearing that times ahead are going to be hard and that the market won’t be favorable for agents. I’m not so certain about that excuse, but I’ll allow that times ahead might not be what you’re used to. That doesn’t mean you should turn tail and run. It just means that real estate teams are more important than ever before—and the stats back that up.
According to a study commissioned by Workman Success Systems and sponsored by Sisu, a mind-blowing four in five agents say that belonging to a team makes them more productive and successful, with only 25% of agents claiming that being on a team doesn’t earn them a higher income than flying solo. That bodes well for teams in the coming year: if it’s true that times are only getting harder in real estate, then you need a team to help you grow and produce more. It also means that major real estate brands and companies need to start building out resources and support for teams—something nearly 90% of agents say they want.
Teams make you better
When things get measured, things get done. This simple fact is only one reason why teams make you a better agent, but it’s a powerful principle. Accountability to others means that your daily efforts will be measured, which means that your productivity is sure to increase. Joining or building the right team means getting the right people for the right jobs. Being able to focus on the tasks you’re best at and that make you the most money without the bloat of other tasks getting in the way is going to make you a production machine. Having a team of people to whom you remain accountable will push that higher, and you’ll become one of those 80% of agents on teams that say their production, success and income is higher than if they were on their own.
Teams need more support
Because teams are such a powerful force in real estate, and because they aren’t going anywhere, major brands and companies need to recognize their presence and account better for them. Though there’s long been a feeling that teams are a fad or a small percentage of the industry, this pendulum is swinging, and companies need to take notice. Our national team study found that 89% of agents want their brokerage and brand to support a team model.
2023 may well bring challenges agents haven’t seen in over a decade. As you plan for the year ahead, recognize that teams are an important source of help and growth, especially in potentially trying times. Major brands, companies and brokerages need to recognize the impact teams have on the industry and start building out more training, support and resources to help them grow. In these trying markets, team support needs to be adopted in order to ensure agent success. For further insights on the impact teams have on real estate, I invite you to visit workmansuccess.com/teamstudy/to get free access to the full study and learn what teams can do for you.
For more information, visit https://workmansuccess.com/.
