I was inspired by Lenn Harley's post on team's and team specialists, who was inspired by Mirian Bernstein, who was inspired by a NYTimes article. Lenn's post touch on so many great topics I wanted to discuss each one separately. (Besides their is no Alabama football today, so I don't know what else to do!)
Real Estate Teams: I have a great team! I started it in 2001. It's called Port City Realty. My company is small enough for me to really consider it a team. I came from the largest company in town so I have been exposed to both extremes. My current office started with just me and my sister-in-law, Lee. Actually at that time you could consider my husband and my teenage son part of the team because they were doing a lot of work behind the scenes. I now have 14 agents and I team up with different agents, at different times, for different reasons, on listings and when working with buyers. It definitely benefits my clients/customers and it also benefits me. I don't have an official "team." I'm not crazy about a team with a name, but that's just me. I have no problem with others that like them. I have different agents that just do really well in a variety of areas, and so many times I feel like it will benefit everyone involved to co-list something, or to work together with a buyer. Whenever I'm working as a team with someone the buyer or seller works with both of us from the beginning. I've never had one that was uncomfortable with the other agent, because I always explain why the other agent is working with us. Buyers and sellers appreciate having the additional help.
Specialties: I have several specialties. I think it's a mistake to put all you eggs in one basket. All my specialties come from experience. Additional education has helped in a couple of areas, but I would never compare a real estate specialty to a medical specialty. I hear that a lot from speakers and I don't believe that even the most educated real estate specialist is as educated in their field as a doctor is required to be in their field.
I am a waterfront specialist. I know more about waterfront properties than 99% of the Realtors in my area, through years of working the waterfront market, not from any classes. (My son knew more about waterfront properties than 90% of the local agents when he was still a teenager from running around with me, asking questions and running around in his boat, but that's beside the point.)
I'm also a Condo Specialist. I have the best condo site in town, and am very knowledgeable about the local condo market. Again, no special school.
I also specialize in Investment Properties. I have had a lot of REO listings over the past few years and I am a HUD broker. From this I have gained a lot of experience working with banks and assets companies and also working with buyers who purchase investment properties. There have been a few classes required for this, but most of it is experience. I recently earned my CPPS designation. (Certified Short Sale Professional). I have worked on several short sales, but would not consider myself a short sale specialist...yet. But is it a part of the investment market, so it is something I am learning.
I am a Marketing Specialist. I have some of the best websites in town. I earned my e-PRO designation back in 2002, and I am going through the course again now. I take every class I can on marketing, the internet and social networking. I go to NAR every year and then usually attend 2-4 other educational conferences. I apply what I learn every chance I get. My properties are advertised everywhere. My sellers and buyers are kept informed. I also have my CRB designation (Council of Real Estate Brokers) and so I am able to get great educational information from them through their webinars.
I rarely work as a Buyer's Agent. This is a hot topic in some circles. I don't represent buyers. In my state I can work as a transaction broker for buyers, which I choose to do. I do an excellent job with buyers. I have a problem with asking a buyer to sign a contract agreeing to work only with me. I think buyers are consumers therefore should be able to shop around. I don't have a problem with other Realtors who work as Buyer's Agents, I just choose not to. I am a fabulous transaction broker. I work mainly from referrals. Sometimes I get contracts from agents that are working as buyer's agents who (I'm trying to think of a polite way to say this) do not write contracts how I would think a "buyer's agent" should (how was that?). The buyer's agents may or may not have had additional training. I'm really big on additional training for everyone, so I won't say anymore about that here.
After re-reading this I think maybe I need a good way to make sure all of this is in my personal advertising. I will admit I'm more of a marketing specialist when it comes to marketing properties than I am when it comes to marketing me. This blog didn't start out to be a personal resume, but it ended up being a little of that. But it was to make a point. Where's my point? Having a team and being a specialist (in several areas) is a very good thing. And yes, I think the consumer benefits if you and your team members, in any given transaction, really do specialize in what they are doing. A good team should always be changing and learning. Every transaction adds to the experience and should make you a better Realtor for the next transaction.
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