Real Estate Teams vs. Solo Agents

A real estate team contrasts with single agents or solo agents as are sometimes called. A team consists of one main person who runs the team and other licensees who are on that team. This can be a husband and wife or any combination of team members. It could be two people or as many as 100. Usually team members have different assigned roles. For example, the lead team member meets with clients initially and their name is on the real estate sign. Another team member may do lead generation. Another team member may be responsible for listing input, uploading photos and running social media while another member might specialize in open houses and buyer represenation.

By way of contrast, a single agent usually performs all of the aformentioned tasks. Sometimes that solo agent has an assistant or someone they occasionally hire to place their signs, take photos and/or be their transaction coordinator.

Teams may promote their services as a type of package where you receive many services under one agreement or “Many hands make light work.” A well organized team can accomplish these promises. But in a less organized team the “right hand may not know what the left hand is doing.” Sometimes the continuity of service might feel disjointed and inconsistent, particularly on larger teams. It all depends on the team.

Working with a solo agent could provide you with very personalized and predictable service. The person you hired is the person you call and the person responsible for the agreed upon services. But there can be perceived limitations since a solo agent can only be in one place at one time.

So what is best? That depends ultimately on you. Are you one who likes to deal with one person or are you okay working with a variety of individuals as long as the job gets done? In my experience, the answer to this question often provides the greatest clarity.

 I’ve heard real estate teams likened to the appointment of a doctor or lawyer. That doctor isn’t the one who checks you in to your appointment, takes your vitals or fill your prescription-those roles are handled by people who work with the doctor. Or when you hire a lawyer, you may meet with that lawyer initially but most of the time it’s the paralegals and legal assistants that you most frequently communicate with. If you work with a solo agent, you will work with that one agent from start to finish.

What about new realtors who have just signed up with a firm? Is it best to join a team or to hit the ground running on their own? This also depends on the individual and their goals. The advantage to joining a real estate team may be a more immediate and perhaps stable income and the ability to learn the business at a slower more relaxed pace. The person who prefers working in groups might benefit from working on a team.

The disadvantage to a realtor joining a team as a new agent is a more limited perspective of how a real estate transaction flows from start to finish. This is because by definition, a team’s success depends on the eficiency of the team, not how many new agents can train to become solo agents the fastest. To accomplish maximum efficiency, the team members should become really good at their assigned tasks. If 3 or 4 people concentrate on Listing Input or Lead Generation, the skill may not be as fine-tuned as it would if only one member focused on that one task. .

If you’re buying or selling and are interviewing agents, ask a solo agent what is the benefit of working with them. How do they work, what can you expect? If considering hiring a real estate team, ask how they’re organized, how long its members have worked on the team and what is the rate of turn-over? Who does what and how do you get your questions answered? If you’re thinking about joining a team, consider your reasons for doing so. Is it have an immediate support system so that you can eventually become a solo agent? Then ask how the team will help you achieve that end and how long it might reasonably take? Then listen carefully because all things being equal, something will likely resonate with you as to what is best for you, a solo agent or a team.