Teaming Up - Top 10 Reasons to do so

By
Real Estate Agent with RE/MAX DFW Associates-Home II Home Team

On August 1, another agent (Michael Valentine) at my office and myself teamed up to form the "Home II Home Team." 

The team came about for several reasons.  We have worked at the same RE/MAX office together for about 3 years.  We often shared stories about our clients, offered up solutions to each other, and when each of us had to be out of the office, we wouldlook to the other for assistance with our clients.  Because of our office camaraderie, we began to discuss forming a team earlier this year.  We were able to recognize that while it could be a time-consuming process getting paired up, we would be able to achieve more together than we would separately. 

Here are the benefits of forming a team:

1)  A team allows you to specialize.  I am the listing specialist for our team and Michael is the buyer specialist.  This allows us to devote our time to becoming experts at what we do and eliminates some of the activities we were previously doing.

2)  A team presents a united front when working with other members in the real estate community.  We have been able to visit builders and others in this industry and it seems to give a more powerful impression to others knowing that a team is working together to make something happen rather than one individual. 

3)  A team gives you emotional strength.  As we all know, sometimes the real estate business can be harsh.  When dealing with negative situations, you are able to turn to the other team member for moral support and advice.

4)  A team makes you accountable.  You realize that if you do not produce, the other members of your team suffer as well.  Assuming that you genuinely care for the others on your team, you feel responsible to do your part to make the business successful. 

5)  A team is fun!  I have found that going to the office each day, networking, and marketing have all been more enjoyable since forming a team.  It is easy to get burnt out in real estate, but having someone else working along with you is more exciting than going at everything alone.  I have found that I am laughing more and in general have a more upbeat attitude.

6)  A team can save money.  There are many expenses that we can now split, which makes the cost of doing business go down.  For example, we only need one subscription to Realtor.com, we only have to have one website, we only need one checking account, and we have reduced costs each month to our broker.

7)  A team doubles your sphere of influence!  Since we have teamed up, we are actively going out to visit each other's friends, family members, and past and current clients.  We now have a wider group of people to market to. 

8)  A team increases your knowledge base.  Many real estate agents say that each deal is unique or different, and it's true.  I can't think of any two closings that went exactly the same.  Having another agent on your team provides increased experience and knowledge about areas that you may have little or no expertise in.  For example, Michael has more experience than I with short sales, and I have more experience than him with HUD properties.  We are able to share that knowledge with each other so that our future transactions go smoothly.  As the old saying goes, "Two heads are better than one."

9)  A team gives you a bit more flexibility.  It can be very hard to take phone calls when you are the doctor's office, on vacation, or at home with a sick kid.  While it is not ideal to be gone from the office, you do have peace of mind knowing that a team member can answer phone calls and help clients until you get back.

10)  A team can be a source of additional income as it grows.  By running your business correctly, you can add to your team and increase your income potential.  By hiring more people for your team, you can effectively serve more people and increase earnings.  In the future, selling your business can be a source of retirement or passive income. 

 

Comments (10)

Marie Meyer
Keller Williams Realty - Central Valley, NY
Orange County New York Realtor

Hi Jenny ... It seems like you've made an excellent change, and you mention the good beneifts that teaming up offers.   Best of luck! 

Oct 08, 2008 11:08 AM
DJ Swanepoel
Real Estate Wiki - Los Angeles, CA

Great post Jenny, thanks. Those are some excellent reasons to create/join a team:)

Oct 08, 2008 11:09 AM
Jenn Neumann Deer
RE/MAX Southern Shores - Surfside Beach, SC
Surfside Beach Real Estate

Thank you for posting this!  I have recently joined my mother as an agent (I have been her licensed assistant for almost two years) and we are deciding whether to team or not.  Good points! - Jenn

Oct 08, 2008 11:21 AM
Richard Dolbeare, R(B)
eXp Realty - Wailuku, HI
R(B), ABR, CRS...Hawaii Multi-Island Specialist

Having worked in a team environment for 35 years in the aerospace industry before entering real estate 4 years ago, it's hard for me to think otherwise.  I find it pays dividends in that new agents like to team with me and many of them have clients.  I've closed numerous transactions that way. 

Oct 08, 2008 11:35 AM
Florida Private Golf Communities
Golf Life Properties, LLC - Palm Beach Gardens, FL
Finding Home Never Felt Better!

I wholeheartedly agree!  I partnered with a specialist in my area and it has made a world of difference in taking our business to the next level.

Oct 08, 2008 11:47 AM
Keith Elliott Jr
KEIRE Realty Group - Manassas, VA
Principal Broker/Owner

Hello Jenny,

Welcome to Active Rain and congrats on your first post! The opportunities to learn and network are incredible here. Best of luck to you!

-Keith

Oct 08, 2008 12:01 PM
Ron Martin
Keller Williams Realty - Spartanburg, SC
Ron Martin Team

Good morning & welcome to Active Rain, You have joined an excellent site to receive free marketing, absorb more information from others, share ideas.  Be a blogger and have fun. If you have any clients moving to the Greenville, Spartanburg, & Anderson South Carolina area we are your team. We are on all three MLS. Great blog!  Keep it up. Again Welcome!!

Oct 08, 2008 10:48 PM
Sasha Miletic - Windsor Real Estate
RE/MAX Preferred Realty Ltd. - Windsor, ON

Hi Jenny, Welcome to AR, Be a Blogholic and start writing your own blog soon on AR. All the best for your RE business. This is the right place for customers, friends, relationships etc.

Best - Sash

 PS: FREE blog traffic strategy video...Hope this will help you... http://activerain.com/blogsview/447190/New-Training-Video-Shows

Oct 08, 2008 11:49 PM
Kirk Westervelt
Van West Realty - Greenville, SC Realtor -Short Sale Expert! - Greenville, SC
Kirk Westervelt, Broker In Charge, Van West Realty - CDPE - Short Sale Agent - Home for Sale - Greenville, Simpsonvil...

Hello and welcome to Active Rain! I encourage you to learn from others, share your knowledge and experiences with all of us, enjoy yourself, and try to log in and join us in the Active Rain community as frequently as possible. I look forward to your future blogs and comments! Take care, --Kirk.

Oct 09, 2008 01:32 AM
Nate Blankenship - Spartanburg, SC Realtor
Keller Williams Realty - Spartanburg, SC

Welcome to Active Rain! This is a great site to network, learn and share ideas with others. Have a great day!

Nate

Oct 09, 2008 02:55 AM