What Can a Good Team Do For You?
As a lone wolf agent for many years, I never understood the team concept. I thought "That's great for the team leader, or broker, but what can a team do for me I can't do for myself. Why should I split my hard earned commissions with anyone?"
Looking back now, I realize those opinions were born out of ignorance on how a good team is supposed to work. I wasn't thinking "big picture".
Agents join teams for many different reasons. New agents might see joining a team as an opportunity to observe how top producing agents work. What they're doing that makes them so successful.
A new agent might join a team because they have someone they can go to for advice when difficult questions come up. There aren't many situations at least one of the agents on our team has experienced so we can help the agent work through their issues.
When an agent joins a high producing team, they have immediate credibility. There is always power in numbers and that helps them when going after high quality, luxury listings. Any agent on our team can walk into a listing appointment with one of our veteran agents and be able to compete for a luxury listing. And none of or veteran agents would ever hesitate to go with a new agent on a listing appointment when asked.
New agents are getting luxury listing opportunities they'd never have a chance of listing on their own. In effect, they're effectively leap frogging over every other new agent out there and jump starting their careeers. They can build their own portfolio of homes they've sold for the next listing appointment.
I've noticed once our new agents gets a luxury home sale or two under their belt, they're much more confident in their abilities. From that point on, there's no slowing them down. It could take years for a non-team affiliated agent to get a million dollar listing and many agents will never sell one over their entire career.
One of the main reasons veteran agents will join a team is to take work off their plate. They're simply worn out and the business is taking a toll on their happiness. I can understand because I got to that point myself.
At one time, it got so bad for me I actually dreaded new listings knowing all the work that lay in front of me. I couldn't even get excited about these beautiful new homes. That's when I knew I was burned out. Now that our team is an efficient, smooth running operation, it's taken a huge amount of pressure on me and it's fun to be a Realtor again. That's how we want our agents to feel.
We want our agents spending their time networking and trying to get new business, not doing paperwork and all the things required to set up and maintain a listing. We have one admin who takes care of everything from the time the listing is signed until the home goes into title. A second admin takes over at that point and handles the duties all the way to closing. The only thing the agent has to do is negotiate the contract.
Our top three agents have 2021 gross commission incomes of $478K, $419K, and $317K. None of them have ever had a year like that. Best of all they did it and still had a personal life. On their own, that would have been impossible.
If one of our agents is sidelined with sickness or just wants to take a vacation, the team covers for them. If they need help with one of their listings, they're covered. All this is what a great team can do for you!
Having said that, it has to be a two way street between the agents and the company. The agent has to be producing and bringing deals into the company in return for their getting quality leads from the company. No team leader likes the idea an agent isn't working and standing around with their hands out waiting for a great lead to be dropped into it.
By the same token, I certainly wouldn't be happy as an agent if I was bringing in sales to my team and was receiving nothing in return. Leads aren't the only thing a good team can offer. They should be providing administrative support and coaching. Agents who join our team can walk into any listing appointment on any price home and compete for it. The chances of them doing that on their own might be very remote.
When an agent associates with a high performing team, they can watch how the top agents have become successful and emulate it. When you're "running with stallions" it tends to up your game too and sometimes that's all an agent needs to get to another level.