Why Should a Real Estate Agent Join a Real Estate Team vs. Being a Solo Agent in Arizona?
It’s a question nearly every agent asks at some point in their career: Should I join a real estate team or be a solo agent?
The short truth: it depends.
There’s not a best case scenario that suits every agent. But with a little soul searching and an understanding of how both options function, you can make an informed decision for your own career.
Here are some of the things you should consider when choosing to be among the pack or go the route of the lone wolf:
Getting Started as an Agent
One of the hardest parts of being a real estate agent is getting started in the industry. It takes time to build up connections and get clients, which will help you grow your reputation and get more business. Because of this, joining an established team is often used as a shortcut for new agent success. This takes some of the overwhelm out of the equation so you can focus on the core aspects of real estate instead of handling all the moving parts of a business yourself.
However, it also means that you may not have total freedom to run things the way you want. You need to consider whether you want to feel like you’re working for someone else.
At the same time great real estate agents do an in-depth get to know you process before they even allow you to join their team. They will get to really know you, and help you get to know yourself. This process is critical to help you understand what is commonly called your North Star or your big why. We like the term North Star, because it is directional.
Then they will show you the generic road map to your North Star. I say Generic because they do not know your algorithm yet, and will be tracking software like CTE and if you plug in everything you do to it you will be able to grow a predictable business.
If you’re a whiz at generating real estate leads, networking, and getting clients, then going solo might be your best bet. This is a major challenge for many agents, so consider yourself fortunate if you’re not struggling in this area.
For others, lead gen comes easier when it’s left to the experts. Being part of a real estate team removes much of the guesswork and costs from lead generation so you can focus on relationships and selling, not collecting leads. Your team leader will hand leads to you, then it’s up to you to turn them into sales.
Besides handing leads to you a great real estate team will cultivate your sphere of influence and your past clients with things like pie day, postcards, auto text messages and emails, and the list goes on. Plus, they will have an appointment setting team of licensed inside real estate agents whose sole purpose is setting you up with ready to go appointments.
Training & Support
The real estate industry is no stranger to evolution, and the best agents are those who invest in their ongoing education. Many real estate teams will provide training and support for their agents. When you’re solo, it’s up to you to invest in yourself. We see basic real estate coaching costs around $2000 a month. This does not include the robust online training like WinInRealEstate.com offers and nor the ongoing in person mentorship on how to handle things in real estate. If you’re also handling all of the day-to-day operations, professional development can easily fall by the wayside.
Besides training, coaching, and mentorship, the team can provide you with a full service admin who creates listing kits for you and manages all of your escrows for you. Some agents who have been surviving for years have joined successful real estate teams because of the support alone. Imagine being able to hand off your leads, escrows, and buyers with no extra charge while you go on vacation or a weekend outing. This means other licensed agents are handling your business, so you can be gone 100%. Branding Branding in real estate is a key marketing tool. When you have a strong brand to support you, you may end up spending less on marketing because your brand and reputation are doing most of the work for you. Trust me a no name vs a large international real estate name like Keller Williams Realty makes a big difference.
When you’re a solo agent, branding falls under your responsibility. Real estate teams often have the backing of a strong brand, such as Keller Williams, that many people already recognize and trust. The intended result: more clients with less effort.
Then belonging to a real estate team you can get your own websites and platform based websites and apps to help you brand yourself with your clients. Real Estate Team vs Solo Agent: Which Will You Choose? There is no right or wrong when it comes to choosing to join a real estate team or trying a solo venture. However, it’s worth considering both options to see which one will help you to be the most successful, and in the least amount of time.