If you’re reading this article, you’re not alone. You’ve likely heard about real estate teams and how they can impact your career — but what exactly are they, and why are so many agents joining or building teams? It’s a big decision to make whether you’re just starting or want to take your career to the next level. It’s important to understand how real estate teams work for you to decide whether it’s the right career move for you.
Joining a team is a very personal decision. Our goal is to help educate you on what a real estate team is, how they work and the types of agents who thrive on teams.
How do real estate teams work?
Real estate teams are comprised of real estate agents and other professionals working together towards one common goal — to close deals. Every team member brings a particular skill set to the table. The goal is to allow each member to focus on their specific area of expertise.
Teams are led by a team leader. This is an experienced agent or broker who provides leads, training, mentorship, support and other resources for the team members. Depending on the team’s structure, agents can work closely together or independently.
Pros and cons of joining a real estate team
Joining a real estate team can be extremely rewarding, but it’s crucial to know the pros and cons to decide if it’s the right fit for your personality and career goals. Here are some factors to consider:
Understanding the dynamics of how a real estate team operates starts with exploring its structure and organization.
Real estate team structure
There is no one way to structure a real estate team. It can vary widely depending on the size of the team, its overall goals and the type of market it serves. However, most teams are built with the same objectives — playing to each individual’s strengths to provide top-tier service to their clients. The most common (and most effective) team structures include;
Team Type | What it’s all about |
The Family Team | A close-knit group of relatives working together to sell real estate. This can include spouses, children, grandparents, and extended family. |
Sometimes, a family’s dysfunction can have a negative impact on the team’s culture, although this is not always the case. Recruiting other agents in your community who may not be interested can sometimes be off-putting. The Unorganized Team:
Teams that share resources and work under the same team name but don’t exist with the intent to work closely together. It may be ideal for a busy, self-sufficient agent, but lacking support and mentorship can lead to challenges. After all, everyone needs a break and coverage once in a while. They are responsible for creating content, managing the team’s social media, and designing marketing campaigns to attract leads.
Administrative support involves managing day-to-day operations like scheduling, client communication, and database management to ensure smooth team functioning.
Team-specific roles, such as showing assistants or inside sales agents (ISAs), handle lead generation and follow-up in larger teams.
Commission splits in real estate teams are typically lower than those of individual agents at traditional brokerages, as teams provide additional resources like leads, technology, and administrative support.
Common commission split structures include percentage-based splits, tiered splits, flat fees, and hybrid models.
Commission splits cover lead generation, advertising, tech tools, administrative support, and training.
Joining a team may result in lower commission splits but can lead to closing more deals and accessing support and training that may not be available at a traditional brokerage.
Brokermint is a platform that helps agents track and calculate commission splits across multiple transactions.
Joining a real estate team can provide professional benefits such as consistent leads, administrative and marketing support, and mentorship for agents looking to grow their business.