Consider these facts when deciding whether to join a team or work alone.
Everyone knows the real estate business is tough, and that’s why the path you choose starting out is critically important. Which is better, though: Working by yourself, or joining a team?
The good news about being a solo agent is that it’s all about you, and you get all the credit. The bad news is that 80% of solo agents who enter the business quit within their first two years. That’s right—if 10 solo agents start out at the same time, the odds say eight of them will be gone in 24 months.
One-third of all real estate agents next year will be brand-new; every single year, a new wave of real estate agents cycle into the business as plenty of struggling ones call it quits. Why are the odds so stacked against solo agents?
Well, you may help sell one house to a friend, then your cousin, and then your Uncle Joe, but after that… you start to run out of uncles. Most solo agents help only a few people before going out of business, the problem being their inability to source new clients.
Of course, you could lean on the old school methods of door knocking and cold calling. I suppose if you enjoy those activities, enough that you’re comfortable with doing them day in and day out, you can find success. However it’s a very difficult path.
“You may snag a few sales at the start, but eventually, you’ll run out of uncles.”
The truly successful solo agents I’ve met are people who were highly networked prior to entering the business. Perhaps they’ve lived in the area for years and were involved in the school system, have kids in sports teams, or were a prominent figure in a church or nonprofit organization. Whatever the case may be, these folks enter real estate already being what I call ‘the mayor of their world’—a natural promoter who’s well known, liked, and trusted. Business comes to them in a snowballing effect, and more power to them!
Now, for that other 95% of agents who aren’t in this ‘mayor’ category, being on a team is definitely a great choice. If you’re on a team, especially one that’s well thought out and has great systems and training in place, you will have a greater chance of success. Not only will you be able to survive, but you’ll be able to leverage your resources to thrive.
Though I can’t speak to every team out there, I can say that ours provides community. If you have questions about best practices, tricky situations, or technical processes, you can get in touch with people via our group text chat. Our team has hundreds of leads pouring in every month through our website. We’re able to get in touch with folks who have a serious need to buy or sell. From there, our transaction coordinators help guide you all the way from contract to close, which frees up 80% of the work that a normal agent would have to do on their own.
We’ve figured out how to best delegate administrative roles so that you, the agent, can focus on what you like to do most. Agents on our team focus on talking to the people who come through our lead generation sites to discern who’s a real buyer, who’s a real seller, and who’s the type of client they’d want to work with. From there, it’s all about being the go-to guide for clients as they navigate the process and flexing your expertise to negotiate deals.
If you have further questions about the benefits of joining a team or want to learn more about my team in particular, don’t hesitate to reach out by phone or email at any time.
