Joining a Real Estate Team: Pros and Cons to Consider

Have you ever found yourself wondering whether joining a real estate team is the right move for your business? The answer to this question is dependent on the goals you have set for yourself. If you want to work alongside a small group of colleagues or be part of a larger brokerage, then joining a real estate team could be beneficial for you. However, it could also result in a decrease in commission earnings or less independence over your business. Prior to making a decision about joining a real estate team, it is important to carefully consider the advantages and disadvantages, which can be found in our brief overview which answer the question of whether, “Should you join a real estate team?”

What is a real estate team?

A real estate team is a group of two or more agents who collaborate to sell properties and share the commission. They regularly gather to discuss new strategies and achieve common objectives. To enhance team morale and sales, specialized talents are often recruited. Real estate teams have physical offices where members can meet in person. Some teams consist of experienced agents or family-owned businesses where relatives are already members, but they may also seek external assistance. A brokerage or a real estate company may include larger teams of 30 or more agents.

Why join a real estate team?

Being a part of a real estate team can provide professional brand-building opportunities. As a new real estate agent, team members’ experience and knowledge can be beneficial, increasing industry knowledge for future solo work. Real estate teams often provide training and professional development, which can help level up in the field. Being surrounded by other real estate professionals also makes networking easier. With assistants and staff to tackle administrative tasks, real estate agents can focus on closing sales. It is important to research potential teams to avoid joining an incompatible environment. Weighing the pros and cons of joining a real estate team is necessary before making a decision.

Pros

If you prefer working in a setting where you are surrounded by others, then joining a team might be the best option for you. Despite your exceptional skills, there is a limit to what you can achieve alone. Having a team can simplify tasks like lead generation and enable you to focus on a particular niche. Moreover, real estate teams have access to valuable software like client relationship management (CRM) systems, design tools, and task management systems. Besides, having a team can help you maintain a work-life balance by providing a set schedule and fellow team members to work with. Furthermore, being part of a team also means having a predictable income as per the commission split.

Cons

Splitting commissions is unavoidable when working with a team, which may also lead to favoritism from clients towards certain members. It is essential to find a team that values everyone’s input, as some teams may have a toxic and competitive environment that only benefits top-performing members. Those who prefer working independently or tend to argue with others may not be a good fit. Additionally, if you decide to create a team, you must take on the responsibility of legal compliance and license all members, which adds to your workload rather than reducing it.

Want your team to have the best listing photos?

Create a collective brand and team identity with stunning real estate pictures by Havah. Check out our services here.