NAR Library & Archives has already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles (E) are available only to NAR members and require the member's nar.realtor login.
Partnership & Team Basics
2023 Real Estate Teams Outlook (RISMedia, Dec. 13, 2022)
According to a study commissioned by Workman Success Systems and sponsored by Sisu, a mind-blowing four in five agents say that belonging to a team makes them more productive and successful, with only 25% of agents claiming that being on a team doesn’t earn them a higher income than flying solo.
Window to the Law: Legal Issues for Teams (National Association of REALTORS®, Dec. 1, 2022)
"A well-drafted team agreement can ensure compliance with state law, avoid worker misclassification and minimize disputes. Brokers play an important role in supervising teams to mitigate risk to the brokerage while supporting an environment in which teams can thrive."
How Do Real Estate Teams Work? (The Balance, May 7, 2022)
A real estate team is a group of real estate agents who work together and share commissions. Rather than working with one real estate agent, you'd work with the team as a whole. There are no set procedures that all real estate teams must follow, but team members almost invariably pitch in for each other and share the team spirit.
Choosing the Best Real Estate Team Compensation Model Based on Team Structure (The Real Estate Trainer, Feb. 3, 2022)
Sales agents should always be paid by commission. This is motivating to sales people. Salaries do not seem to work for agents, certainly not on a long-term basis. On the other hand, admin need to be paid salary. To get good admin staff on a real estate team, you will need to pay them salary. Yes, hourly is o-k, but I believe that paying salary feels more “adult” and increases retention.
Considering a Partnership or Team?
‘Teamerage’ Model Could Solve Small Brokers’ Growing Pains (REALTOR® Magazine, Nov. 16, 2022)
The teamerage model combines the best of what a brokerage and a real estate team have to offer, Betts told brokers at a Sunday session during NAR NXT, The REALTOR® Experience(link is external) in Orlando, Fla. Agents walk into a full-service experience with the resources and close-knit relationships of a team at their disposal. They also have access to the oversight and guidance of an active and involved broker.
Forming a Real Estate Team Could Prevent Burnout (REALTOR® Magazine, Nov. 16, 2022)
While she admits it took her awhile to build her ideal team, Hata now offers leads as the “rainmaker” but also provides her agents with extensive admin and marketing support. Her agents pay a 50-50 commission split on leads she provides, and they get a 60-40 split if they bring in the client. Hata handles all the virtual work on each of her team’s transaction, including pricing analysis, CMAs and contract negotiations.
Husband & Wife Real Estate Teams: How 3 Top Teams Make It Work (The Close, Jun. 1, 2022)
“To any couples or siblings who are considering working together, I would tell them to determine what their individual strengths are and allow that person to lead in that direction. Also, something we’ve recently realized: Unless it’s necessary, we both do not need to attend the same meetings. We work together because we trust each other’s decision-making process. We can accomplish twice as much by implementing this.”
Joining a Real Estate Team: 10 Pros and Cons (Care Realty Training, Jun. 15, 2022)
In the real estate industry, the competition is usually agent against agent, and in the case of a team against team. This simply means that rather than working against your teammates, you are working with them, thus giving you fewer people to compete against. This way, you get to pool together resources and marketing power to land clients. And suppose one teammate is unwilling to work with a particular client. In that case, the client can quickly be passed on to you rather than have them go to the competition.
eBooks & Other Resources
The following eBooks and digital audiobooks are available to NAR members:
All Star Sales Teams (eBook)
Boomerang! Coach Your Team to Be the Best and See Your Customers Come Back Time After Time! (eBook)
Building Better Teams (eBook)
Complete Partnership Book (eBook)
Co-Leaders: the Power of Great Partnerships (Audiobook)
The High-Performing Real Estate Team (eBook, Audiobook)
Manage Teams Successfully (eBook)
Never Fly Solo (eBook)
Nice Teams Finish Last (eBook)
Overcoming the Five Dysfunctions of a Team (eBook)
Smart Leaders, Smarter Teams (eBook)
The Hedgehog Effect (eBook)
The I in Team (Audiobook)
The Ideal Team Player (eBook)
The Team Success Handbook (eBook)
Virtual Teams (eBook)
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