One of the many gains to the real estate profession is work flexibility. Schedules often rely on clientele and quotas levied against personal goals and needs, but how can new agents take their budding real estate career and elevate it into something greater?
How does that solo agent start building a better book of business or cultivate lasting partnerships? How can an agent in the real estate industry continue to build their skill set, regardless of their experience? That’s where teams in real estate come into play.
What is a real estate team structure?
A real estate team structure may refer to a group of real estate agents who have opted to aid each other in their transactions. Typically, these teams can be completely collaborative, with all other real estate agents having the same level of input.
Conversely, they can have a team leader with extended experience to help other real estate professionals and even teach a budding team member.
This model is often seen as a team leader model, since the team leader is often the real estate agent with the most experience and an innate ability to mentor those within their real estate team structure.
What is the “team leader” real estate team model?
This real estate team model typically uses a senior real estate member, or team leader, to help other real estate agents learn and thrive within the real estate industry. The team leader model uses real-world experience to teach the entire team, or group of entry-level real estate professionals in a team structure, to share a wealth of knowledge and resources.
This team leader structure also allows the leader to share a portion of their commissions with a specific team member in training while the new agent learns the transaction and process flow.
Teams don’t have to be led solely by their team leader, however. Some brokers may opt to help guide and educate new agents. Some may prefer a hybrid version of the team leader and broker education model. It really depends on the brokerage’s specific goals and how they operate.
What about the mentor/mentee model for real estate teams?
The mentor/mentee model typically uses a real estate team structure that prioritizes converting a new real estate agent or agents into self-sufficient professionals. This type of real estate team structure allows real estate agents with significant experience to pinpoint specific goals for their team members.
For example, a mentor may have exceptional history with lead generation and utilizing workflow to achieve a higher engagement rate with their targeted clientele. This same mentor may work with a single agent to increase their leads as a common goal between the two of them, and give that agent more education and tips for generating conversion-ready leads.
Real estate team structure & real estate agents
Regardless of your work style, exploring a real estate team may be a worthwhile endeavor. For a real estate agent just starting in the industry, it may be worth it to investigate how real estate teams work in your current brokerage.
Does your brokerage offer a lead team model? Are they more likely to embrace the mentor/mentee model to achieve a more common goal, such as lead generation?
Perhaps they favor the team leader model, where a solo agent with vast experience and brand power is the driving force behind the rest of the team. Maybe you’d rather work as a duo with another solo agent.
No matter if you’re operating in a real estate team structure or as a solo agent, it’s always a great idea to incorporate other experienced real estate agents to help you succeed and reach your real estate career potential. For any other resources, check with your managing broker and other real estate professionals that work with you to help create your bag of tricks.
Remember, when you’re first starting, you have ample real estate professionals willing to help you get on your feet, especially by choosing a managing broker who understands the value of each and every team member licensed with them.