There are numerous models being used and calling themselves teams or groups.
Some are simply a loose partnership between two agents for advertising purposes. On the other end of the spectrum, you can have a “Team Leader” that has organized a business with an assistant, buyers agents, marketing person, listing agents, office manager, and more. It is a "virtual company" within a company.
In the first model, the benefits to the clients are basically zero. In the second model, the benefits are many with multiple personnel backup, detailed follow up, areas of expertise, etc.
Yet to the potential customer looking at an ad in the paper, they can appear to be the same.
There are other models of team operations:
A husband and wife
An Agent and their assistant
A confederation 3-4 of agents sharing an assistant
And I am sure that there are many other configurations.
My state has taken this stance, “Legally, there are no teams, just licensed agents -- all of whom are working under the supervision of the managing broker and all of whom must be paid by the managing broker.” This has come to the forefront because of concern over how agency status is affected by teams and how teams are advertising. Some of the names could easily be confused for a brokerage. Again the state claims, “Team names that include phrases such as “and Associates” or ___________________ Realty” give the impression there is a separate and independent firm. In such cases, the Commission is of the opinion the same is misleading and could subject the team members to disciplinary action………………...”
Is it time for the states, NAR, or local Associations to step in and provide some definitions of the team concept in order to clarify what the consumer is getting?
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