Make the Most of Your Outsourcing with the Right Team

It’s that time of year. End of the year review time. Time to look at your lead sources and compare to spend (ROI and ROAS), conversion ratios, and if your team or brokerage is getting you everything you need and are paying for.

This includes if you’ve been a solo agent, looking at if being on a team makes sense. There’s certainly a lot of talk that real estate teams are the best way to go if you want to succeed in this business. But let’s look at all the pros and cons of being on a team so you can make the call that’s right for you.

Most of the public talk is about the benefits of being on a team, and most of the cons are unexamined assumptions (the kind of thing that passes for “common knowledge”) so let’s examine all of it.

I hope this helps you decide if being on a team is right for you (or if you’re on the right team for you).

- What are the benefits of being on a team?

Teams allow members to share ideas, collaborate on projects, and take advantage of collective expertise.

Teamwork often provides an opportunity for people to learn from each other’s strengths or specialties.

It helps create a sense of community and camaraderie. For most agents, this is a huge plus — working on your own, especially since Covid, can be lonely.

This kind of partnership also provides an opportunity for accountability that leads directly to increased productivity and therefore higher production.

For new agents, the opportunity to have partners to help walk through their first few deals is an enormous value.

- What are the drawbacks of being on a team?

First, it costs money — the team split is up to the team, and it varies by location, team leader, and the value adds the team provides.

Does the team provide leads? Staging? Marketing materials? All these things add value to team members and teams will generally adjust the splits based on what they provide.

In addition, there is a team’s culture. There may be disagreements among members, and if roles aren’t clearly established it can lead to confusion about who is responsible for what tasks.

On a team, you are no longer only responsible for yourself, you need to weigh what is expected of you to be a productive partner for the rest of the team.

-How do I know if being on a team is right for me?

It is a very personal decision — you’ll need to weigh the money and the culture questions.

Remember when weighing the costs (splits) to add back in the additional deals you’ll do by taking advantage of what the team provides (accountability, leads, marketing materials, etc.).

Do you work better when you have people to bounce ideas off of? Do you like creating games with others? Do you like having someone who’s been there before to lean on? Do you want to start your whole brand from scratch? Do you need to be the boss?

These are the kinds of questions only you can answer and will lead you to the best answer for you.

- How do I find the right team for me?

It can be difficult to find a team that is well-suited to your goals and vision, but it’s worth the effort.

To start, think about what type of team would best support your ambitions and have the necessary skills and resources to help you reach your goals. Consider the size of the team, as well as any specialized skills or expertise needed.

Next, research potential teams to identify those that have a strong track record and have experience in working with what you’re looking for.

It’s important to evaluate each team’s culture to ensure compatibility with your values and expectations.

Then review their splits and fees to see if they are justifiable and if you can see a positive ROI. I look at my team’s expense as my outsourcing a bucket of work that I would need to tackle myself if they didn’t take it on.

When it’s all said and done, you are always free to review your situation and nothing is permanent so feel free to explore your options.

If you are looking at exploring your options, and you want a team environment without additional splits, from anywhere in the country, message me as I might have the perfect solution.