What you need to know about the three major types of real estate teams.
What is the best real estate team model out there? Real estate teams come in many shapes and sizes, and each one has a unique set of pros and cons. No team structure is perfect, so to give you a better idea of which one might work best for you, here are the three main types of real estate teams:
1. The group model. Some teams have as many as 30, 40, or 50 people on them. At that point, they’re operating more like a brokerage. Everything is driven by agent count, and there are lower standards as a result—an agent might only need to do five or six transactions each year to be a valuable team member. I spoke to someone the other day who runs a team in this model, and he said that if someone can follow the model and maintain ethical standards, they’re hired.
2. The specialist model. With this, you have two groups of agents who specialize in either sellers or buyers. In these teams, most of your agents’ leads are provided by the team, and things work very efficiently. Typically, this model has the highest production per agent. I know someone who runs one of these teams, and in their group, the average agent does 44 transactions each year.
3. The Realtor partner model. This one is sort of like a mix of the first two. Agents work both sides of transactions, and while the team might provide some leads, agents are individually getting a good portion of their leads themselves.
If you have questions about this topic or how any of these teams work, please call or email me. I am always willing to help!
