A team is a group of people who work together to achieve a common goal. Sports teams work together to achieve a common goal.
The real estate team helps team members get more “leads” and it is a way for the leader to make more money.
The leader gets some of the agent’s commissions. For new agents, teams can be a great way to get some hands-on experience and training but to be honest that is what a broker is supposed to provide.
Sometimes the clients of real estate teams get this mental picture of several people working on selling their home or finding them a new one but it almost never works that way. One agent works on selling the house while the others work with other clients or on lead capture.
There is a real estate team leader who insists that when anyone on his team makes a sale he gets credit for it. That way he has more sales than any other local agent has.
He leverages the myth that the agent with the most sales is the best agent. People who hire the agent end up working with someone on the team who will use the name of the lead agent.
If I call a team and ask about a home for sale usually no one but the actual listing agent knows anything about the home. In fact, it seems like they don’t talk to each other at all.
They don’t actually help each other when problems arise and they do not tap into each other’s expertise. Homes do not sell faster because they are listed by a real estate team.
Some teams do work together. There are a couple of smaller teams where each person on the team knows what is going on. I can call one team member and ask another team members listing or offer. Often these teams are families or couples who work together.