Joining a real estate team or becoming an independent agent is a big decision! When I became a realtor 1.5 years ago, I started as an independent agent at a brokerage. I recently joined the Rigali Group with Danberry Realty and did a lot of research before making the big switch! Today I am sharing my tips on what to consider when deciding to join a real estate group.
My first recommendation is to interview multiple teams to find the best fit for you and your goals. Some brokerages allow teams while others do not. Understand the options that your brokerage offers, like joining a group, before signing on. Every team has a different structure and it is important to understand how you would fit into the group. Learn as much as you can about each team and see which one aligns best with your strategy as an agent.
What to Consider When You Interview Real Estate Teams
- Commission structure: Agents always pay a portion of their commission to the head brokerage and then an additional commission will go to the leader of your team. Make sure you are comfortable with the split.
- Leads: Does the head of your team send you any leads? Some do while others do not offer consistent lead generation
- Marketing: What type of marketing is put in place for the team as a whole? Are any funds offered for continued education and individual marketing?
- Structure: Will you be required to assist the head of the team with their deals (dropping off fliers and lockboxes)?
- Admin: What is the role of the team admin
- Members of the team: Does the team have expertise in other areas that would benefit you as an agent?
- Do your strategies align? Is your strategy more traditional or pushing the envelope and thinking outside the box? Make sure your strategies mesh well together.
Why I Joined a Real Estate Team
I have a vision for the type of agent that I want to be and I really wanted to find a team to compliment that vision. It was important to be able to present myself in a manner that was authentic to me. Luckily, I joined a team where everyone essentially acts as an independent agent but with team perks. You get the benefits of group marketing, the expertise of teammates and lead generation.
The Rigali Group is made up of 5 agents who each have areas of expertise. My team lead was a general contractor for 22 years. He is a fantastic resource for home repairs, inspections and recommendations of contractors. He also works with investors which is a huge benefit for me since I also work with investors. One teammate is a photographer, another is a master at social media advertising and another has expertise in specific Toledo markets. We all leverage each others strengths to provide the best service for our clients.
A portion of your commission goes to the team lead with every deal you close. Mine takes a portion of that commission and puts it towards marketing of the entire team. I like that I have more marketing support as a team to get our names out there. I also like that my team has more experience in certain marketing strategies that I can learn from.
Online marketing can be costly but it is an effective way to capture new leads. It can also be hard to advertise in your desired area (zip code) because there is limited space. If I were on my own, I would not be advertising online for quite a while. Now that I am on a team, my team leader pays for online marketing and passes leads to each of us.
Other brokerages offer admin assistance but our team admin is FANTASTIC! She creates compelling market materials that fit my style, which is super important to me. She is also an experienced real estate agent who understands the buying/selling process.
Real estate groups are not for everyone so it is important to do your homework! I am confident that if you ask the right questions you will find the perfect fit to help you succeed in real estate.