Question Details

Anthony Dona…, Real Estate Pro in Columbia, MD

Should a new agent join a team?

Asked by Anthony Donaldson, Columbia, MD Wed Jun 11, 2014

I went to meet the broker of KW and upon leaving an agent spoke to me about her team and asked me to consider joining as a buyer's agent.

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that's just like getting married, it takes 110% from both sides. divorce is painful and costly. Just like being single, it has its advantages, are you a good team worker, do they work 24/7, do they share the responsibilities and lead cost or simply use you as a runner. try and come up with a list of concerns before signing with anyone.
0 votes Thank Flag Link Thu Jun 12, 2014
Being on a team is a 2 way street - you want training and experience and they want a cut of the money from your deals. There's no free lunch.
There's always been (and will be) a debate among brokers about how new agents should begin their careers. Nine times out of ten if they sign on with a big, franchise brokerage they are directed to focus on buyers, whether working solo or on a team. In my never humble opinion, this is the first step toward agent career death. Comparatively, buyer clients are easier to acquire than sellers. Sellers prefer to give listings to agents who have proven experience with properties like theirs. New agents just don't have the experience.
So the new agent is told to drive "qualified" buyers around looking for the "perfect home" - which I consider the real estate version of Las Vegas roulette. You might get lucky and find that property the first day, or the wheel could spin for months without ever landing on your number. Meanwhile, no paycheck. This is simply the nature of the business.
Teams are great for new agents, if the new agent is given mentoring with a healthy balance of buyer and seller skill development.
0 votes Thank Flag Link Thu Jun 12, 2014
Good answer... I started w/Coldwell Banker - Big Name - buyers, buyers, buyers... Thankfully - I found them...
Flag Thu Jun 12, 2014
As long as it seems like the right fit for you, it can be enormously helpful when you're first getting started, as it was for me. If you're considering it, make sure you look at multiple teams to see how they stack up.
0 votes Thank Flag Link Wed Jun 11, 2014
Not all teams are created equal, you need to weight benefits vs obligations. Joining a team with a good number of listings can be quite beneficial to you as a new agent given the opportunity will be there for you.
0 votes Thank Flag Link Wed Jun 11, 2014
A team requires you to be accountable to the others and also a lot of discipline which is all good. Be careful on how the team is set up and what your splits are etc.
0 votes Thank Flag Link Wed Jun 11, 2014
Joining a team can be a good thing. You get on the job training, leads and plenty of open house opportunities.

On the flip side, what happens if you decide to go out on your own? What happens to the relationships you've cultivated with clients while you've worked on the team? Chances are that you are obligated to leave the clients with the team.

Make sure you understand what you're signing up for on a team versus working as an individual agent responsible for generating your own business. There's no right or wrong; it's a matter of what is the best fit for you.
0 votes Thank Flag Link Wed Jun 11, 2014
Anthony,
No clear answer here can apply to everyone. It depends on you, your strengths, needs, abilities, etc and it depends on the team, it's needs, your fit and the plan they are offering you.
A team can be a way to get up and running quickly and gain some experience. It can also be a way to be "used" for grunt work and underpaid, depending on what you have to offer and the duties they request from you.
If you are confident in your skills with people and ability to learn quickly and whatever office you go to work for offers good mentorship & training, you could do better on your own. It just depends on all various factors.
0 votes Thank Flag Link Wed Jun 11, 2014
Not if you have a good MENTOR.
Not if you prepared your proposition correctly.
Not if you maintain fidelity with the commitments you make to yourself

If those characteristics do not describe you, sharing your compensation with a team may be your best option.
0 votes Thank Flag Link Wed Jun 11, 2014
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