What is a real estate team?

Because the real estate industry can be quite competitive, doing all the work on your own can be stressful and daunting. With a real estate team, duties and responsibilities can be shared to achieve common goals. Together with your fellow real estate agents, you can do listing lead generation, create and manage listings, and earn commissions and revenues together, as a group. Everyone puts in the effort so that everyone reaps the benefits.

What are the advantages of being a part of a real estate team?

There are many good reasons why you should consider joining a real estate team. Whether you are new to the business or have been around for some time, being part of a real estate team can help your career in the following ways:

Professional growth and development – Your teammates may have knowledge and skills that you lack, and you can learn from them to become better at your job.

Improved lead generation – Having multiple members allows for more opportunities for listing lead generation. Whether they are leads for commercial property buyers or home sellers, a strong team has more options and more diverse sources for a consistent and steady flow of leads.  

Sharing of knowledge and resources – Real estate agents have a long list of tasks to do every day, and collaborating with a team can get the work done more efficiently.

Enhanced work-life balance – How much you earn as a real estate agent depends on how many hours you work and how many deals you close. Because of that, working on your own often leaves you with very little time for your personal life. With a team, you can have more time for your family, friends, and hobbies, as you do not have to be on call at all times.

Are there disadvantages to working in a real estate team?

Just like working with a team in any other industry, joining a real estate team can also have some challenges and difficulties. Before you decide to become a part of one, you might want to consider the following cons:

Differences in personalities and values – You might find some of your team members are completely different from you. You might have very opposite opinions and contrasting insights about certain things. When this is the case, you might find it hard to bond with them.

Smaller commissions – Because there are several people working to get leads or helping home sellers find buyers, your cut in commissions will be smaller than if you do all the work by yourself.

Difficulties in creating your professional brand identity – If you have plans to pursue your own interests in the future, working in a team may impede your efforts to develop your personal brand. To prevent that, you should join a team that focuses on the niche that you want to transition to later on.