The origin of "teams" in real estate.

By
Real Estate Broker/Owner with (808) 226-1095 or (831) 626-4000 CA #01772851 HI #RB-21268

If you put together a TEAM in a real estate office, there are a lot of dynamics involved. First of all, why put together a team? How big does a team need to be? Or is a team built around people who bring in so much business, they can't handle it all by themselves? Or does a brokerage have a lot of agents who AREN'T bringing in business, so this is a way to give them a piece of the pie?  

OR IS IT THE NEW TRAINING PROGRAM?

Many brokerages have been shrinking in terms of agents and are now out there actively recruiting. Obviously they would like to get experienced agents to join them, but are definitely also recruiting newbies to the field.

In the past established agents have been happy to "mentor" new agents because there was a lot of business to go around, so why not be helpful. But that notion is pretty much out the window. Nowadays it's tough out there!

However, the stars of a brokerage, those who bring in a large number of listings, are prepared to delve out time consuming marketing chores to those who are not so blessed. And that is probably the origin of "teams".  

But I know that there are a whole lot of variations of these "teams" and I would love to hear about them.

PS. This blog was inspired by these ants who had it all together; see how they are actually carrying their booty. Who is in charge? Who is the TEAM LEADER? Who gets which piece of it?

Ants working as a team

 

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________________________________________________________________

Hella Mitschke Rothwell (R)

Real Estate Broker/Owner/Realtor®
Licensed in California #01772851 & Hawaii #RB-21268

Tel. 808-226-1095 or 831-626-4000 

Fax 1-877-822-9332

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Rainmaker
572,384
Hella Mitschke Rothwell
(808) 226-1095 or (831) 626-4000
Hawaii & California Real Estate Broker

Robert: Absolutely, if you were the "broker in charge" or "principal broker" and you don't have an active sales role, that means you bring together the best teams for the good of the brokerage. Versus a brokerage where teams form themselves for their own good. I presume brokerages give their independent agents that choice, though.

Jul 21, 2012 09:51 AM #30
Rainmaker
572,384
Hella Mitschke Rothwell
(808) 226-1095 or (831) 626-4000
Hawaii & California Real Estate Broker

John: On a daily level, how does this work? Those who have not been on a team, I'm sure, would like to know. Do you take your leads to the group, for example? Or do you just proceed as you always have, but bring your questions to them? Then, if you need a helping hand, you come to an agreement, transaction by transaction?

Jul 21, 2012 10:00 AM #31
Rainmaker
506,723
Chris and Dick Dovorany
Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL
Broker/Associate at Premiere Plus Realty

I have never understood teams.  A newbie joining a team, maybe but shouldn't the broker provide training?  In my area teams are looking for experienced agents.  I don't get it.  Why would an experienced agent water down their income to puff up someone else?

Jul 21, 2012 10:08 AM #32
Rainmaker
572,384
Hella Mitschke Rothwell
(808) 226-1095 or (831) 626-4000
Hawaii & California Real Estate Broker

Chris and Dick: You bring up good points.

Jul 21, 2012 10:33 AM #33
Rainer
4,933
Jean Marie Ragus
American Dream Realty - Santa Cruz, CA

In the past, I was the sole agent  with the Buyer's agent with the admin/marketing team member also. In my particular case,  I found out that I was spending more time focusing on the team rather than being productive with clients. The team can take on a life of its own.  Currently I have a business partner and he handles certain aspects and I handle others; we avail ourselves to a Transaction coordinator and our inhouse marketing department. 

Jul 21, 2012 01:44 PM #34
Rainer
59,827
Pete Dufresne
Keller Williams Realty - Cumberland, RI
Realtor, IMSD-Internet Marketing Specialist, CDPE

Chris and Dick, I'm assuming you both work together, which would make you a team.  Do you see how if you reached a certain point that either of you(or both) would get too stressed out with the workload that you have?  Why wouldn't you want to start delegating the less important tasks, or some of the smaller sales, to someone that has more time to handle it? not to mention that you still get a portion of that deal anyway.  It's a great way to leverage yourself.

My business partner and myself created our own team 2 years ago and I can't imagine ever going back to being an individual agent.  I checked our stats at the end of June and we were ranked #38 in transaction sides and #69 in total volume for our entire state, that's compared to 5000+ agents/teams.

The Millionaire Real Estate Agent book is pretty much the real estate bible, it's worth reading several times.  They also made atleast 4 other books called: FLIP, HOLD, SHIFT, and MRE Investor. They are available at almost any book store and worth every penny.

Jul 21, 2012 02:08 PM #35
Rainmaker
572,384
Hella Mitschke Rothwell
(808) 226-1095 or (831) 626-4000
Hawaii & California Real Estate Broker

Jean Marie: In your case it sounds like having inhouse help was your best option, rather than helping every other member of a team, neglecting to build yourself up.

Pete: Great information. I need to read these books.

Jul 21, 2012 02:50 PM #36
Ambassador
1,563,910
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 800-610-7253 DRE01267479 - Costa M

Hella - This is an interesting question, and I'm curious real through additional answers.

Jul 21, 2012 05:30 PM #37
Rainmaker
164,135
Stephanie Arnett
Coldwell Banker SRE ~ Starkville, MS - Starkville, MS
SRS, IMSD, Broker Associate, REALTOR

I just joined a team.  I was asked to join to bring a set of "strengths" to the table the other agents didn't have (marketing, tech items, blogs, etc.).  The other agents are more seasoned than I am, so I get to listen & learn.  Works for both sides :)

Jul 21, 2012 05:51 PM #38
Rainmaker
572,384
Hella Mitschke Rothwell
(808) 226-1095 or (831) 626-4000
Hawaii & California Real Estate Broker
Christine: we are having some excellent dialogue here.
Jul 21, 2012 06:31 PM #39
Rainmaker
572,384
Hella Mitschke Rothwell
(808) 226-1095 or (831) 626-4000
Hawaii & California Real Estate Broker
Steph: did your broker organize it for you, or a team in the office approached you? Just wondered who decides. Sounds like it is working for you.
Jul 21, 2012 06:34 PM #40
Rainmaker
601,518
Joy Daniels
Joy Daniels Real Estate Group, Ltd. - Harrisburg, PA
I am a top agent and would only work on a team. We are a little different in that we have agents tha only works with buyers and ones ha only wok itch sellers so we can specialize. My team allowa me more time, so I don't mind sharing my experience or leads.
Jul 21, 2012 07:23 PM #41
Rainer
45,558
Brittany Purcell | Associate Broker
Keller Williams Realty Lanier Partners - Athens, GA
I beg to differ. For me, a team is exactly what "millionaire real estate agent" breaks it down to be - a business. My job as the lead agent is to generate the business and set a standard of service. Then the people around me actually have jobs to work. Just like a retail store has a sales rep, a cashier, a stocker, an accountant, a manager etc, my team has specific roles being filled so that we can do a large number of transactions. I do this because I want all my team members to have a life worth living. We stop working at 6 and don't work on Sundays, and every person has a job they do very well at and enjoy. I encourage you to read MREA - and perhaps shadow a successful team leader. Have fun out there!
Jul 21, 2012 07:56 PM #42
Ambassador
1,252,828
Erica Ramus
Erica Ramus - Ramus Realty Group - Pottsville, PA - Pottsville, PA
MRE, Schuylkill County PA Real Estate

MREA is indeed a valuable book to read. Our office functions pretty much like a team itself. I am the broker and my job is to pull in the business, and the others service the leads I produce.

Jul 21, 2012 08:36 PM #43
Ambassador
1,252,828
Erica Ramus
Erica Ramus - Ramus Realty Group - Pottsville, PA - Pottsville, PA
MRE, Schuylkill County PA Real Estate

Hella -- that didn't come out 100 percent correct. The agents in the office also bring in their own business, but my function is to market us and produce business for all of us.

Jul 21, 2012 08:36 PM #44
Rainmaker
654,112
Evelyn Kennedy
Gallagher & Lindsey, Alameda, California - Alameda, CA
Alameda, Real Estate, Alameda, CA

Hella:

Teams seem to be a good way to share the work and bring in the leads.  It does sound like an efficient way to work. 

Jul 21, 2012 09:14 PM #45
Rainmaker
572,384
Hella Mitschke Rothwell
(808) 226-1095 or (831) 626-4000
Hawaii & California Real Estate Broker

Joy: It sounds like yours is a winning team for you.

Brittany: Specific tasks for each team member, and you the driving force. Yet personal life allowed.

Erica: Great that you provide leads for your team.

Evelyn: That seems to be the consensus.

Jul 22, 2012 01:44 AM #46
Rainmaker
976,704
Sharon Alters
Coldwell Banker Vanguard Realty - Fleming Island, FL
Your Fleming Island Relocation Agents.

Frank and I work as a team and we compliment each other with our skills, ahve separate cients and fill in for one another when necessary. It's great. I don't think teams are a fad, as agents have realized that they can accomplish more by leveraging their opportunities.

Sharon

Jul 22, 2012 05:02 AM #47
Rainmaker
403,555
Regina P. Brown
California Coast & Country Homes, Inc. - San Luis Obispo, CA
e-Pro Realtor

Hella, how the ants work is a good way to describe how a team works.  I have a team of real estate professionals and I find it advantageous to have one.

 

Jul 22, 2012 10:50 PM #48
Rainmaker
572,384
Hella Mitschke Rothwell
(808) 226-1095 or (831) 626-4000
Hawaii & California Real Estate Broker

Frank and Sharon: It's great to have someone to rely on like that. And that you have separate clients, rather than "teaming up" on clients which seems less productive.

Regina: Wow, you are the first one who commented on the photo. I thought they showed great teamwork and it should be if agents got together.

Jul 22, 2012 11:10 PM #49
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