The idea of building a team as a real estate agent may not be the exact thing you want to hear this week. After all, you’ve been closing just enough deals to keep you busy for as long as they last – alone. Why then would you want to share your sweet reward with someone else?
The point is: when you look at real estate teamwork from the perspective of profit-sharing, you may never see a reason to indulge. However, the fact remains that teams are gradually getting infused into many industries. And the real estate market is not left out.
Just before you make up your mind about keeping your paycheck all for yourself, you may want to consider the following things you can achieve by working in a team.
You Work Faster
Talk about setting up a meeting with a potential buyer, preparing that killer pitch, and delivering it at a time that is convenient for your business. You finally land the deal and have to arrange paperwork for the transaction. That is not all. Don’t forget that you also need to make out time to show your buyer a few houses based on their specifications. And when they finally settle for one, you need to set up an agreement with the merchant house.
The list keeps going on and on, and by the time you’re completing one transaction, you’ll be worn to a frazzle. You must have also spent nothing less than a few weeks to a few months handling the transaction all by yourself. At the end of one year, your agency may have only a handful of successful transactions to boast of.
On the other hand, working with a team will make every real estate transaction run faster. You can split the processes among yourselves, such that as you deal with convincing property owners to hire your agency, your team members handle all the paperwork. In the end, you’ll be able to cover more grounds within a shorter time frame than when you’re all by yourself.
You have to be multitalented to successfully win clients to yourself, help them solve their real estate problems, and still do an excellent job with all the paperwork. But if you work with a team of other realtors, you can focus your efforts and skills on a particular transaction process.
If you are skilled at interacting with people, you can easily focus on handling every contact with your clients. In the same way, your partner who’s good with the law can take care of the contracts for every transaction. Not only will this specialization make the work faster, but you’ll also achieve excellence on each transaction as each step will be done skillfully.
Besides the two benefits mentioned above, there are other reasons to team up in the real estate industry. Read The Standout Agent to discover if teams might be a right move for you.
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Until next time…