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Benefits Of Working With A Real Estate Team

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Local Real Estate Team - Sukh Brar Real Estate Group

Selling your home is an exciting, thrilling period — but as you start researching real estate agents and seeing what an important decision you have to make in choosing one, the excitement quickly turns to stress. The countless reviews, recommendations, and listings provide an overabundance of information — and it’s easy to become overwhelmed.

How do you decide on who’s the best choice for your home? Who is giving you the most trustworthy recommendations? 

While every situation and market is different, hiring an experienced local real estate team is the way to go around here. And if we’re being honest, it’s the safest option pretty much anywhere. 

So why are real estate teams the most valuable and practical option for both home buyers and sellers? After all, real estate transactions are, for most people, some of the biggest ones they’ll go through in their entire lives. Considering that, why are real estate teams the ideal form of representation in this process? We’ll explore how these teams work below. 

How Do Real Estate Teams Work?

Essentially, a real estate team consists of two or more real estate agents providing services to a client. When buyers and sellers don’t want to rely on the expertise of a single real estate agent and instead prefer having a posse of experts by their side, it’s a fairly common option. 

In the past, real estate teams have slowly but surely been gaining popularity at the expense of individual realtors — and the reasons for that are numerous. Some customers feel safer when they’ve got a wide variety of specialties to rely on, while others like the round-the-clock support that a professional real estate team provides. In North America, around a fifth of all realtors actually work on teams, and those numbers are increasing over time. 

Over the course of their careers, most real estate pros consider starting their own real estate team or joining another one. So, what makes their structure so efficient?

Structure Of A Real Estate Team

On the average real estate team, the most experienced agent, or multiple seasoned real estate agents, serve as lead generators and listing agents for the whole team. They’re the “rainmakers”, but they by no means function alone. The listing agents heavily rely on the support of marketers, other agents, and operations staff that are tasked with taking care of numerous other responsibilities. 

The other members of the team help with transaction coordination, managing the office, hosting open houses, working with buyers, promoting listings, and so forth. 

Routinely, each agent works in their general area of specialty — but every one of them is also there to work together and handle every need their clients have. For instance, if a buyer would like to check out a home ASAP and their agent is busy or on vacation, another team member or agent will step in to help. 

Crucially, hiring a team doesn’t mean you have to pay commissions to each individual member. You’re paying them the same amount of money, and they’re splitting it. 

Of course, there is no single template for a real estate team that every team out there follows — there are plenty of different team structures, and various teams. However, most of them start with a busy, successful agent that simply doesn’t have time to juggle all of their responsibilities. They become tired of doing lead generation, paperwork, marketing, database maintenance, open houses, and all their various responsibilities on their own.

Some feel like they’d like to specialize in something — others realize that they won’t be able to grow further without help. So, they start by hiring an administrative staff member or an assistant to help them carry the workload. Then, they may think about hiring a buyer’s agent, allowing them to focus on lead generation and listings. Plus, they may need a transaction coordination that deals with the various paperwork and documents for each transaction. 

Typically, these are the responsibilities handled by various members of a real estate team: 

  • Listing agent
  • Buyer and seller representation — buyer and seller support specialists
  • Support — Administration, Operations, and Transactions Coordinators 
  • Listings — Specialists and Coordinators that promote and generate listings
  • Marketing and Communications — Design, Advertising, Listing Promotion

These are only the rough sketches, as teams can widely differ depending on their specific circumstances. Some teams have long lists of seller’s and buyer’s agents and a bevy of brokers, while others have just an administrative assistant supporting a couple of agents. The size and structure varies. 

However, the important thing to take away here is that the concept of real estate teams is better for both clients and the agents themselves. The agents get a much healthier work-life balance, the ability to focus on the aspects of their work that they like the most, and the scope needed to grow their business. Plus, brand new agents have a lot to gain from the mentoring, experience, and leads they can get by working in a team early on in their careers.

Of course, while all of this is nice, what you’re really wondering is: how does this benefit the clients? In other words: what’s in it for me? 

Benefits Of Working With A Real Estate Team

Working With Several Specialists

Unlike a single agent that’s often forced to juggle all aspects of their work, real estate teams have a more production-line kind of mindset. A single person focuses on one area or task that they specialize in — and they’re often hired by teams precisely because of their talents, experience, and skills in that single specialty. 

In an ideal scenario, that means you get a team of experts that each focus on refining a single step in the process of buying or selling a home — like experienced marketing coordinations that have perfected innovative outlets for bringing your listing into the spotlight, or a transaction coordinator that’s amazing at taking care of the nitty-gritty of your transaction’s paperwork. 

Naturally, individual agents may be great at wearing different hats — in many cases, an agent does an excellent job at both negotiating and marketing. However, these people with a wider focus are often not that great at the details — and in a team, there are always others who will dot the i’s and cross the t’s if need be. 

In a tightly-wound, efficient real estate team, all team members have a common vision, different duties, and complementary skill sets. Most listing agents that form their own teams know what their personal strengths and weaknesses are — and they know just what kind of people to hire to fill in the gaps. For instance, someone with a great sense of market trends and tons of industry connections may not be the best person when it comes to diving into contract details — and they’ll hire team members who can take care of those aspects of the business. 

5 Star Customer Service

More Resources And A Better Client Service

For clients, one of the biggest advantages of working with a real estate team is always having someone who’s prepared to help you out with any given detail of your transaction. Experienced real estate agents know that there are countless unexpected situations that a single realtor would have a hard time handling on their own. What if a client’s AC breaks down the evening before a sale is finalized — and they’re not sure how they should communicate that to the seller or what they should do. 

At the end of the day, real estate agents are people too — and from time to time, they take breaks from work too. When you’re dealing with a single agent, you have to take their schedule into account much more. However, home offers may come up at any time, at a moment’s notice — and you don’t want your real estate to be unavailable precisely at that point.

In such a situation, having an entire real estate team on standby is invaluable because there will always be someone to answer your questions, take your calls, and provide the necessary support. And we don’t just mean late calls at odd hours — when things go sideways, a team has a much larger support bandwidth at any point of the transaction process. 

Also, when a home offer comes up out of nowhere, you’ll always have someone to call back quickly and professionally negotiate on your behalf. All in all, real estate teams provide constant, round-the-clock support in the most critical stages of your real estate transaction — even if your listing agent isn’t available at some specific moment. 

Naturally, your relationship with your listing agent is always their top priority. But what you get as a bonus is an entire support team. And more resources also mean a better client service.

Real Estate Teams Have Synergy

A Professional Real Estate Team Has Synergy

The best real estate teams work with an abundance of synergy — their collaboration is meticulously planned out, and each player has a part to play in providing you with the ultimate service. 

And when they need to figure out a solution to a specific problem or brainstorm marketing ideas for your home, the combined efforts of the team will always provide a better result than the efforts of a single real estate agent would. After all, more people means more creativity, more contacts, and more wisdom. You’ll benefit from the team’s collective knowledge, skill set, and experience. 

Of course, that’s only true as long as the team is cohesive — if it’s been put together with the appropriate attention and care. That’s why you need to think long and hard before selecting the best real estate team — and if you do, the results will speak for themselves. 

For tips on finding a good realtor read How to Find the Top Realtor In Fraser Valley

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  • Sukh Brar Real Estate Group

    Sukh Brar Real Estate Group
    (604) 648-7800
    sales@sukhbrar.ca
    Top 1% Realtor according to the FVREB 2014-2019