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
How to Compensate & Structure Real Estate Teams (Easy Agent Pro, Oct. 18, 2024)
This interview with a Kansas City based real estate team unveils some interesting team dynamics. The team gives unusual power to the administrative assistant and even has the buyer specialist help out with seller lead generation.
The team found that the best buyers were people who sold through the team. So, they structured everything around that. Their whole morning routine is built around generating more seller leads.
This team also tracks their numbers religiously. And they give a lot of power to their admin in order to help them accomplish this.
How to Build a Real Estate Team + 7 Critical Mistakes to Avoid (The Close, Jul. 11, 2024)
The management of a real estate team’s business is different from the management of a solo real estate business. Create a plan for what you need, how you’ll pay for it, and what to do with the revenue you generate.
The Psychology of Real Estate Teams (RISMedia, Jul. 8, 2024)
Team leaders can influence team morale and inspire favorable, long-term performance by providing training, the technology and tools team members need to foster a stronger working relationship, win more listings and stand out from the competition.
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."
Considering a Partnership or Team?
Real Estate Teams: How They Work & Should You Join One? (Invest Four More, Nov. 15, 2024)
A real estate team will help agents with paperwork and contracts. My least favorite part of real estate is dealing with paperwork. I have assistants on my team who handle almost all paperwork for me, and they help other agents on my team with paperwork as well. We teach our agents how to handle inspections, appraisals, loans, closings, contracts, the MLS and more, but my assistant can create all the contracts and addendums for those tasks.
Why Starting on a Real Estate Team Can Ensure Your Success (The Stearns McGee Team, Jul. 4, 2024)
According to Mike Stearns of the Stearns/McGee Team, from our RE/MAX Properties office: “A team makes a great start for a new agent as they gain the expertise, contacts, name recognition from their real estate team leaders.”
It also helps the new agents out financially as the team leaders usually pay the fees for the team members. (Each team is different.)
Many agents starting out find themselves unable to pay all the bills when starting in real estate so having all or some of their fees paid for them is a huge step in the right direction. Or other young realtors want to learn as much as they can from the more experienced realtors in their field.
Tips for Successful Real Estate Partnerships (Bay Property Management Group, Feb. 12, 2024)
There are two main types of real estate partnerships–Real Estate Limited Partnerships (RELPs) and general partnerships. That said, knowing the legal, financial ownership and management differences between them is important.
- Real Estate Limited Partnerships- RELPs consist of two types of partners: general partners and limited partners. General partners have management authority, while limited partners are passive investors. Additionally, general partners have unlimited liability, while limited partners have limited liability.
- General Partnerships- General partnerships involve equal ownership among partners. All partners share management responsibilities and decision-making authority. Additionally, partners have unlimited personal liability for the partnership’s debts and obligations.
‘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.
eBooks & Other Resources
eBooks.realtor.org
The following eBooks and digital audiobooks are available to NAR members:
Above Quota Sales Management (eBook)
All Star Sales Teams (eBook)
Best Team Ever (eBook)
Boomerang! Coach Your Team to Be the Best and See Your Customers Come Back Time After Time! (eBook)
Building Better Teams (eBook)
Building Resilient Teams (eBook)
Complete Partnership Book (eBook)
Co-Leaders: the Power of Great Partnerships (Audiobook)
Elevate Your Sales Team for Extraordinary Results (Audiobook)
The Intentional Sales Manager (Audiobook)
The Happy Sales Manager (Audiobook)
The High-Performing Real Estate Team (eBook, Audiobook)
Love Your Team (eBook)
Manage Teams Successfully (eBook)
Never Fly Solo (eBook)
Nice Teams Finish Last (eBook)
Overcoming the Five Dysfunctions of a Team (eBook)
The Real Estate Team Playbook (eBook)
Smart Leaders, Smarter Teams (eBook)
The Hedgehog Effect (eBook)
The I in Team (Audiobook)
The Ideal Team Player (eBook)
The Sales Leader They Need (eBook)
The Team Success Handbook (eBook)
Virtual Teams (eBook)
Have an idea for a real estate topic? Send us your suggestions.
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