The Hidden Truth About Real Estate Teams: Debunking the Myths

By Jacqueline Smith

Jacqueline Smith started in real estate in 2015 and sold 52 homes her first year in the business as a solo agent. After considering growing her own team, and exploring different team models, she decided to partner with Place in 2017. The partnership allowed her to fast track her growth, and provide better systems and models to her agent partners. Her and her team in Vancouver Washington now close over $165M in annual sales volume, while keeping the quality of the agent and client experience at the forefront.

Today, I’ll discuss some common misconceptions about real estate deals. Let’s break down the key points and remove the timestamps and unnecessary details:

1. Myth: You make less money by being on a team. The reality is that as you grow and scale your business, you’ll see that being on a team can actually increase your net income. The goal of a team is to help team members increase their hourly wage by taking administrative tasks off their plate, allowing them to focus on building relationships and increasing their dollar per hour.​​​​​​

2. Myth: Solo agents have more freedom. While it may seem like solo agents have more freedom, they often lack the leverage and systems to streamline their business. Also, solo agents spend a significant amount of time on activities that don’t directly generate income. Joining a team provides added resources, leverage, and tools, which can actually give agents more freedom and time.

3. Myth: Teams are for agents who cannot make it on their own. Teams can be beneficial for new agents, as they provide access to experienced agents and help accelerate the learning curve. However, teams are also highly beneficial for experienced agents with a large book of business. Experienced agents can take advantage of the value a team offers, such as client events and leveraging past clients for business opportunities.

Overall, teams are suitable for agents who care about their hourly rate and want to maximize their net income. Experienced agents with a significant client base can benefit greatly from being part of a team. The leverage provided by a team allows agents to handle more transactions and reap the benefits of increased business.

Remember, being on a team doesn’t mean you make less money or sacrifice freedom. Instead, it can provide support, resources, and opportunities for growth in the real estate industry. If you are curious what it would be like to partner with us on our team, just fill out my strategy questionnaire by going to this link, and I will be in touch and we can set up a time to chat. I hope to hear from you soon.