Quick Takeaways

  • When a solo agent has built a successful business, but they find themselves and their business opportunities limited by time, the next best step may be to create a real estate team. A real estate team is most often a group of agents sharing listings, networks, referrals, etc. and working together to close sales.
  • Real estate teams can be made up of many different roles, from assistants to agents, and often must take into account compensation, leadership models, staffing, etc.
  • A real estate team must be built with careful consideration, planning, and execution, but if a team is effective, it can increase support, earning potential, and client pipelines for the individual agents of those teams.

When you are considering building a real estate team, there are many factors to keep in mind —staffing, team roles, compensation, how to handle referrals, contact with clients, and more. The most successful teams are built with careful consideration and a long-term plan for each element of the team. Team business models offer great flexibility for real estate professionals and can you help avoid burnout, while raising the ceiling of profit potential. Be sure to consider state laws surrounding real estate transactions and teams, and to keep your clients well informed of what it means to work with a real estate team.

Partnerships & Teams Topics

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