In Episode 180, Matt Emerson and Jan O’Brien discuss joining a team or going on your own as a solo agent. There are pros and cons of both, and we'll walk through them so that you can do some analysis and make the right choice for you.
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Questions and considerations to address first:
What are your goals & objectives?
If you are considering joining a team… why? Be clear about this
Where are you in your real estate career and journey?
New or newer to the business - it is critical to join a company or team that is going to help you with the fundamentals
Licensed for a while but maybe wanting to reboot your business
An experienced agent who wants to be part of a team for camaraderie and support
All teams are not equal or prepared for team members!
When Interviewing to join a team, make sure to ask the right questions based on what you are looking for and learn what they provide
PROS of Joining a Team MAJOR ASSUMPTION - the team is actually ready and set up to support agents!
Leadership & mentoring
Structure & accountability
Leveraging teams brand/success/ marketing
Tools & systems
Reduce your expenses for advertising, marketing, and tools
Learning and gaining confidence
Support and camaraderie of team members and leader/manager
Leverage the team concept and benefits with clients
The team may have Leads to give and lead opportunities (Open Houses on Team listings, for example)
CONS of Joining a Team (and possible PROS for going solo)
You aren’t branding yourself - you are contributing to team leaders brand
Awards/recognition for the company usually goes to the Team Leader
Not for you if you want to be in charge
Depending on the structure - all listings may go to the TL in MLS (or co-listings)
People drama - personality conflicts
CONS of Going Solo
You have to set up all your own systems (website, CRM, listing & buyer presentations)
Marketing & advertising costs
Lead generation systems
Admin assistant/TC/VA costs
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Real Estate Sales Builder contains 12 training modules designed for new and newer agents and any agent who wants to master the core fundamentals of a successful real estate business. The primary goal of this program is to show you how to consistently build your pipeline to generate more buyer and seller transactions to reach your individual business and career goals.
Welcome & Course Overview
Module 1: The Fundamentals of Real Estate & Your Business Plan