Special offer

Are You A Team Player?

By
Real Estate Agent with Better Homes & Gardens | The Masiello Group

Real estate teams are a growing segment of the Realtor® population.  As state real estate commissions continue to adapt (and sometimes struggle to adapt) to this growing trend, many new and experienced agents are beginning to ask themselves if a team is right for them.

Karen Anne Stone wrote a great blog yesterday in response to colleagues asking for her advice when considering hiring a buyer's agent (see: Attitude or Experience... What to Look for When Adding a Buyer's Agent... .) She suggested I expand my comment to a blog post...so here it goes.

In the interest of full disclosure, I am not currently on a team.  I worked as the marketing coordinator and catch-all person for one of our teams for 4 years and have just moved out on my own with the same agency (with the full blessing of my former team leader.)  My thoughts on the subject have to do with the team concept and the opportunity I was afforded for 4 years to absorb and observe several of our agency's teams in action and what seems to make or break their success.

Go TeamAs far as the nitty gritty of teams, I am sure there are many more experienced and qualified agents out there than myself, and I hope they will add their thoughts, comments, and tips to this post.  For the ins and outs of growing a team, there are also detailed plans in Gary Keller's book, The Millionaire Real Estate Agent.  I consider myself a team player and do value the team concept, but at this point in my life, the opportunity to grow into my career and control my own schedule are key factors for my choice to be an individual agent at the moment.

When considering expanding into a team or joining one, agents really need to ask themselves "Am I a team player?"  ...and perhaps if the answer is "no," more importantly, "Do I want to be?"  Real estate teams are not for everyone, but they can be a perfect fit for many when done right.

In my experience, the most important trait for all people involved with a team (leaders, assistants, agents) is a commitment to and belief in the value of the team concept.  Our agency's most successful teams operate as well-oiled machines.  Here are a few of the aspects that these highly successful teams share:

  • Roles are clearly defined.
  • Clear expectations are set.
  • They hold regular weekly team meetings that are time-blocked and NOTHING else is scheduled during that time.  Communication is key!
  • They encourage suggestions and creativity.
  • For the most part, when not showing homes, writing contracts, or participating in other lead generation or networking activities, all members of the team are in the office and busy.
  • They have a consistent bonus structure so that all team members can grow.  This can be a tricky one.  As a team leader, a generous bonus plan can keep the troops motivated, but you also need to think it through so that you do not start something that will get out of hand and end up costing you more than the team member is worth to you.
  • Lead generation is EVERYONE's job.  It is planned and time-blocked.
  • All team members feel appreciated and valuable to the team.
  • They participate regularly in team building activities.

Whether they are new or highly experienced, agents joining a team need to truly buy into the team concept for it to be a success.  If a potential buyer's agent joins a team only because they think it will be easier, then they may not see the value in giving up half of their commission.  However, if a buyer's agent no longer wants to plan advertising, handle tons of paperwork, organize closings and just wants to meet with clients, show and sell property, then they may decide that a team that can provide them with 5 times as much business is worth giving up half of the commission.

The flip side of this is true as well and just as important.  Many experienced agents come to a point where they envision themselves as the leader of a team.  However, not all of them will be successful.  A team leader who adds assistants and buyer agents, but keeps all the choice leads and does not work daily to actually lead the team, will not be successful.  To lead a successful team, an agent needs to be able to develop a balance between delegating responsibility and keeping a level of involvement that keeps the team focused, but allows it to grow and function smoothly.  Teams need to have a strong value proposition to attract top talent.

Well, I have babbled on long enough.  I'm anxious to hear your thoughts on what you have observed, what makes or breaks a team, and what you are looking for in a team or team member.

Posted by

The Maine Real Estate Network - Kristen Wheatley - Lewiston-Auburn Maine Real Estate

Maine Realtor Kristen Wheatley  

Kristen Wheatley is a Maine Realtor working and living in Central Maine.  She specializes in the sale of residential and investment property in the Lewiston-Auburn area and surrounding towns.  Kristen uses the latest tools and mobile technology to provide a superior experience and results for her clients and enjoys sharing these technology skills and teaching other real estate professionals and local small business owners.

The Maine Real Estate NetworkKristen Wheatley, Associate Broker
The Maine Real Estate Network
34 Center Street - Auburn ME 04210
mainehomeseller@gmail.com
207-240-2250     www.lamainerealestate.com

Search for Maine Homes For Sale

how much is my Maine home worth? subscribe Maine's largest and coolest real estate agency Welcome to the L-A Maine area!

connect with Kristen on these other sites

facebook Kristen Wheatley on twitter Kristen Wheatley on Flikr Kristen Wheatley on LinkedIn Kristen Wheatley on YouTube

//

Copyright © 2013 by Kristen Wheatley

Comments (7)

Jan Stearns
Jan Stearns, Waterville Valley Realty, Waterville Valley, NH - Waterville Valley, NH
Marketing Director for Waterville Valley Realty

Very well written, Kristen.  Our real estate office has five brokers, an office administrator and a marketing director (me).  We truly operate as a team...there's no cut throat hijinx or back stabbing, and I think it's one of the reasons our organization has been so successful for over 40 years. 

May 18, 2010 09:44 AM
Amber Boyd
Novus Real Estate - Wylie, TX

i am also wondering how a team works since i am about to get my license.

May 19, 2010 02:51 PM
Charles Edwards Bentonville
Coldwell Banker Harris McHaney & Faucette 479-253-3796 - Bentonville, AR
AR REALTOR, Bentonville Real Estate Agent and Broker

Kristen, Great post. I have recently been invited to join a new team. I honestly did not know who to ask about teams and had no idea how they work. I'll be reading Keller's book. I think I already have it gathering dust in my home office.

Good work here Kristen.

Oct 31, 2010 01:54 AM
Malcolm Johnston
Century 21 Lanthorn Real Estate LTD., Trenton, Ontario - Trenton, ON
Trenton Real Estate

Being a team player myself, I simply can't resist stopping by and making a gratuitous comment. :-)

Oct 31, 2010 02:26 AM
Kristen Wheatley
Better Homes & Gardens | The Masiello Group - Brunswick, ME
Supporting Success - Best Job in the World!

Charles:  Teams can be a great way for agents to come together in this market and pool their resources. The personal dynamics of the team make all the difference in the world though.  Hope it works for you.  I'm thinking you would be the rock that holds it all together.

Thanks Malcolm.

Oct 31, 2010 03:41 AM
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

This is such a great, informative post Kristen, I can't imagine why it didn't get many more comments than it did..........it just makes you wonder sometimes if it's the time of day you post something or the general mood of the members that makes them comment or not.............I guess we'll never know for sure will we.   

Oct 31, 2010 11:04 AM
Kristen Wheatley
Better Homes & Gardens | The Masiello Group - Brunswick, ME
Supporting Success - Best Job in the World!

Thank you Roger.

Oct 31, 2010 11:14 AM