HOW-TO CHOOSE A TEAM TO JOIN?
Welcome to our comprehensive guide on choosing the perfect real estate team to join! As a real estate professional, your decision to join a team can significantly impact your career trajectory and overall success. This guide will empower you with essential factors, expert insights, and valuable tips to help you make an informed and strategic choice. Whether you're a new agent seeking mentorship and support or an experienced agent looking to expand your opportunities, this guide will provide you with the tools to identify a real estate team that aligns with your goals and sets you on the path to growth and prosperity.
Section 1: Defining Your Goals and Values In this section, we'll explore the importance of understanding your personal and professional goals and values before choosing a real estate team. Learn how to assess your long-term vision and determine what you want to achieve in your real estate career. We'll guide you through the process of identifying the values and culture that resonate with you, ensuring that your chosen team aligns with your principles and work ethics. By establishing clarity on your goals and values, you'll make a more informed decision and find a team that supports your growth and aligns with your aspirations.
Section 2: Evaluating Team Dynamics and Support A successful real estate team thrives on collaboration and support. In this section, we'll show you how to evaluate the dynamics of the teams you are considering. Learn how to assess the level of mentorship and training offered to new agents, as well as the ongoing support provided to experienced agents. We'll discuss the importance of teamwork and camaraderie, and how a supportive environment can boost your motivation and productivity. By understanding the level of resources and support available within a team, you can choose a collaborative and encouraging work environment that fosters your professional development.
Section 3: Assessing Lead Generation and Marketing Strategies Lead generation and marketing are critical components of a successful real estate business. In this section, we'll guide you through evaluating the lead generation and marketing strategies employed by the teams you are considering. Learn about the team's approach to attracting and nurturing leads, as well as their marketing efforts to promote listings and services. We'll also discuss the importance of a strong online presence and branding, as well as the team's use of technology to enhance productivity. By choosing a team with effective lead generation and marketing strategies, you'll gain a competitive edge in the real estate market and elevate your potential for success.
Section 4: Examining Compensation and Commission Structures Understanding the compensation and commission structures of a real estate team is essential for making a well-informed decision. In this section, we'll help you navigate through different compensation models and commission splits commonly used in the industry. Learn about potential bonus structures, profit-sharing opportunities, and any associated fees or expenses. We'll also discuss the balance between income potential and the resources and support offered by the team. By carefully evaluating the compensation and commission structures, you can choose a team that aligns with your financial goals and ensures a fair and rewarding partnership.
Section 5: Conducting Interviews and Gathering Feedback In this section, we'll guide you through the process of conducting interviews with potential real estate teams. Learn about the essential questions to ask team leaders and fellow agents to gain valuable insights into the team's culture, work dynamics, and overall performance. We'll also discuss the significance of gathering feedback from current and former team members to gain a well-rounded understanding of the team's strengths and areas of improvement. Armed with this information, you'll be better equipped to make a confident and informed decision about which real estate team to join.
Joining a team may be the biggest decision of your real estate career, join the wrong one and you may waste months or years of your life, or even worse, you may end up failing from the industry altogether. But joining the right team can catapult your career to growth that you would have never dreamed of as a solo agent... choose wisely.
Remember this is about you, not the team. Where is your greatest opportunity for growth? Clearly articulate what you want to focus on to grow your business. It needs to be measurable and it needs to be actionable. Now that you know what your goals are, it will be easier to spot who is the best person to help you achieve them.
- Choose a team that has lead nurture and lead follow-up systems. Online leads are usually 6 - 24 months away from making a purchase. If a team is only providing you with new leads that have registered recently, the leads will require months or years of work before they become a transaction. Online leads convert at 1-3% so if you are getting raw leads make sure you know how many leads you are getting per week since you will likely only be able to convert 1-3 people for every 100 leads you get.
- Choose a team that has an inside sales department that qualifies the leads for you. Online leads suck, why waste your time with people who filled in their information (real or fake) just so they could see more property information. Most of the teams extort the lead's email and phone number in order to just see more details like pictures, taxes, or prices. The lead knows that you made them fill in their information so that you can call them over and over until they agree to work with you, how do you think that phone call will go? Leave the raw leads to the inside sales team professionals, you should only be accepting leads that have given up their price, area, & timeline, these are leads that will appreciate you helping them.
- Choose a team that supports your business, remember you are your business. It's important to always be working on the growth of you. A great team will help you with this, while a poor team will stifle your growth in favour of the team's growth. Can you advertise yourself as a top-producing agent or does the team make you promote them first? Can you have your own autonomy or does the team micromanage what you do?
- Choose a team that wants to invest in you long term, the average agent joins a team for 1-3 years but after that are you on your own, or does the team offer more for you as a solo agent? The most important time in your career will be years 3-6, will you be set up for success?
- Choose a team that does not force a 50/50 split. Most teams focus on profit first and as such, demand 50% of the commission you make. This is 50% after what the brokerage takes as well so many times you are working double or triple for 1/2 the money. Not all teams take 50%, some value agent prosperity over team profit.
Congratulations! You've now completed the guide on choosing the ideal real estate team to join. By defining your goals, evaluating team dynamics and support, assessing lead generation and marketing strategies, and examining compensation structures, you've taken essential steps towards making the right choice. Remember, finding the perfect fit may take time, but the investment in finding a supportive and thriving real estate team is crucial for your long-term success. By selecting a team that aligns with your values, offers the support you need, and provides opportunities for growth and advancement, you're setting yourself up for a rewarding and prosperous real estate career. Best of luck on your journey, and may you find the perfect real estate team to unlock your full potential and achieve your professional goals.