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July 23, 2014

When Is a Team Not a Team?

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When Is a Team Not a Team?

So-called real estate teams do not really meet the definition of the word “team,” as they function more like a company in which people cooperate for personal gain, says real estate consultant Rob Hahn in a recent Inman News article.

These teams generally are structured like a brokerage — with a lead agent or two at the top who generate nearly all of the leads, buyer’s agents who work the buyer leads on a 50/50 split, agents who take listings that the lead agent cannot or does not want to handle, and support staff from transaction managers and contract coordinators to administrative assistants at the bottom.

Teams often handle their own marketing, buy their own technology, and sometimes even have their own office space, making it difficult to distinguish them from the small independent brokerages under which they work. However, unlike brokerages, teams tend to be choosy about letting in new agents and cater to the lead agent.

If they were to operate under a true “team culture,” the revenue-sharing arrangement would have to be altered so that the individual benefits for the success of the team; team members would become experts in a particular specialty; and team members would hold each other accountable instead of relying on a coach or manager.

Source: “Where Are the True Real Estate Teams?” Inman News (Jan. 6, 2013)

© Copyright 2013 Information Inc.

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