Some agents need to be part of a larger real estate team for any of a number of reasons. The fact of the matter is that the achievement of results in the property market today requires all types of support, momentum, and interaction. Some people cannot do that alone. Take the time to understand just how you prefer to work and interact in the property market; choose the business team that supports your business style and processes.
There is benefit to be had from working in a cooperative real estate team where information and skills are shared. The knowledge and experiences of many have a positive effect on results over time.
Challenges and Benefits
Here are some of the most common challenges that get easier when you work as part of a real estate team:
- Momentum – Starting the day with people around is a bit easier for some agents. Getting to the office and seeing what other people are doing helps some agents get their actions and prospecting systems underway. Routine is a big part of winning new listing opportunities. Forming habits and focusing on key tasks will always help with real estate momentum.
- Learn from others – The property market can be really challenging when you look at the different property types and the challenges of sales and leasing. Shared information and leads across the local area can help in filling in the gaps of skills and personal development.
- Support – The fact of taking a property to the market for sale or lease involves a lot of paperwork and documentation; all of which takes time and effort. In the larger real estate offices, the integration of team support around the agents always helps with getting the listings out into the market faster and more directly.
- Property Knowledge – What property knowledge will you need to get the deals and the inspections underway? Usually a good degree of local area information will help. So the local area knowledge can be tabulated across property types and locations. The knowledge from a group of agents in the same brokerage can be put to good use in building a pipeline of results.
- Local Area Knowledge – Understanding just what is on the market currently for sale or lease, and then know exactly what recent prices or rents have been achieved. That will help greatly in any deal or negotiation.
- Marketing Systems – Some marketing processes are quite special such as social media, database, email, direct mail, and cold calling. They all have a place in commercial real estate today. Within a brokerage there will be variances of experience and skill across agents. You can learn from the other agents in the team.
- Referral Systems and Leads – The clients currently serviced in your business by other agents can open the door to extra new business. Sales and leasing leads can be created by asking the right questions to the right people as part of an existing property transaction. Property management appointments can also occur from an established referral system.
So the facts here show that there is a reasonable level of benefit in working as part of a larger and more professional real estate team. Choose your brokerage well. Build the relationships with your fellow agents and peers where you can share knowledge and experience.