Maximizing Your Potential
As a lone wolf you will always be better off building a career by yourself no doubt but
most Realtors perform much better in a team environment than by themselves. That is one of the main reasons why so many real estate agents fail by themselves. They lack the drive, the discipline, the structure, the skills and the support they need to shine their natural talent. But when a team player joins the right team environment, they tend to accomplish a lot more than they'll ever achieve by themselves.
If you find it difficult to consistently grow your business on your own and close more than 10 deals a year, if you have an expressive (I) personality style or an amiable (S) personality but you're lacking the drive (D), it will always be a challenge for you to grow your business on your own in a consistent matter. But in a the right team environment, you can truly shine and use your natural talents (doing what you love) and close a lot more sales.
A recent study shows that expressive (I), expressive/amiable (IS) and expressive analytical (IC) personalities, which represents more than 60% of the population, who work with a team of other professionals, tend to accelerate production by more than 100% (double).
The challenge is always finding the right team to work with, a team who can provide you with:
Positive office environment
Qualified Leads
Appointments
Administration support
Training and coaching
Accountability
Motivation
Growth incentives
Systems and tools
Marketing and branding
Specific schedule to follow
Specific goals and targets
With a median household income of $60,596 (in RI), doing less than 20 sales a year is not sufficient for those of you who wish to maintain a positive lifestyle. In RI the average sales price is somewhere in the upper $200K with an average commission (per side) of about $7,000. With that in mind, it will take 20+ sales a year for a typical agent who works in a traditional environment (50-70% split) to maintain a normal lifestyle. Unfortunately most Realtors in RI close less than 7 transactions a year, netting about $25,000 income (before taxes).
So what should you do if you are a team player
and you're looking for the right team environment?
The best thing for you is to find, join, or assemble a team environment with similar values, goals and to make sure the team can provide you with what you need in order to be happy, strive and maximize your potential. Building a successful team from scratch takes about 18-24 months, it takes a lot of stamina, discipline and money. Joining an existing team is obviously faster. For those of you wishing to speed up the process, you will need to look for a team to join who can provide you with a positive office environment, qualified leads, appointments, administration support, training and coaching, accountability, motivation, growth incentives, systems and tools, marketing and branding and a specific schedule to follow with specific goals and targets.
What to expect from a team agreement?
Most team agreements will have a non compete clause and will demand certain requirements, commitments, specific personality style etc. Typical teams will include the following members: Buyers agents, a listing agent, a transaction coordinator, a listing/marketing coordinator, a team leader and an administrative manager. Some teams might offer you a combo position, for example, you can become a buyers agent and also do transaction coordination for the team (these kind of combos will also help you secure some additional income). The agreement will typically include your position in the team, commission split (normally 50/50), escalation clause (in case you surpass a certain production level, your split might go up accordingly), confidentiality, team manual and procedures, etc.
At this time we are looking for team members including:
Marketing specialist, Buyers agents, Listing agent, Telemarketers, Transaction coordinator, and administrative manager. If you wish to join an existing team or a team in assembly, please feel free to email me at ran@circle100.com
Good luck!