Why You Need to Start Your Own Real Estate Team
For newer agents, joining a real estate team is one of the best ways survive the most difficult period in such a competitive industry. In 2015, only 1 in 10 solo agents survived on their own after two years. And even at the top looking at the nation’s highest performers, the average number of transactions dropped 22% from 2011 to 2015. Real estate teams offer career stability, instill confidence through support structures, coaching, leads, technology, and most importantly, a place to hang their license.
But real estate teams also have one edge over single agents: scalability. Compared to solo agents, teams with 3 years experience closed an average of 60 transactions annually, and teams with 8 years experienced closed an average of 158 transactions. Compared to the average of 12 transactions a year for a solo agent according to Realtor Mag, teams can outperform solo agents by 400 to 1200%.
If you’re looking to increase your volume of annual transactions, building and running your own real estate team is the best way to achieve your career and financial goals. Your team is also beneficial for the agents who will undoubtedly thrive under your direction. Of those agents who currently work on a team, 61% reported their team helped add up to ten additional transactions to their annual sales volume. In addition, 12% of agents reported gaining 40 or more additional transactions while working on a team, according to a 2016 survey conducted by real estate coach Tom Ferry and his team.
Download the full ebook and you’ll learn how to become a top performer by building your very own real estate team. You’ll understand the benefits of running your own independent team, the right times to hire the best people, how to structure your team to succeed, and what technology and tools you need to run your team and reach the top.