Whether you’re considering starting a real estate career or have been a solo agent for a few years, you’ve probably considered if it makes sense for you to join a team. Teams come with many benefits, but a lot of people will tell you they aren’t the way to go. The truth is that there are a lot of popular conceptions about real estate teams, and most of the negative ones aren’t true. That’s why we’re clearing the air by debunking three of the most common misconceptions about joining a real estate team:
1. “You make less money by joining a team.” On paper, this one seems pretty simple. Solo agents don’t need to worry about commission splits, so it appears obvious that they’d make more money. However, this isn’t always the case in practice. New solo agents lack the tools, experience, and training they need to establish their business; teams provide all of these things. By leveraging them effectively, you’re more likely to sell more homes and ultimately end up with more money.
2. “Solo agents have more freedom.” While solo agents are free to do whatever they want however they want, they don’t have access to the resources teams do. Solo agents often get bogged down doing paperwork and other activities that don’t make them any money. Alternatively, teams handle many of these processes for you, giving you more freedom to get out there and do more transactions.
3. “New agents are better off learning things themselves.” Some people have an attitude that it’s better to learn things about the real estate market the hard way. However, this just isn’t true. Teams are especially beneficial to newer real estate agents because they are full of experienced agents you can lean on to speed up the learning curve. That way, you can spend less time learning the ropes and start doing transactions sooner.
With those misconceptions cleared up, this begs the obvious question: “Should you join a real estate team?” The truth is that it depends on your situation, but they can be very beneficial to both newer and seasoned agents. If you’d like to learn more about our team and what we offer, just give us a call or send us an email. We look forward to hearing from you!