While many more traditionally-structured teams leave many hopeful realtors feeling used, abused and burnt out, I want to help you become a successful realtor through my team’s incubator-style approach.
If you are an aspiring real estate agent here in central Oklahoma, maybe you've been thinking about whether you want to be an independent agent or to join up with a brokerage and a team. Before you make that decision, I want to share some things with you to help you with that decision, but before I do — full disclosure — I would love you to consider joining my team, Oklahoma Real Estate Experts.
Why? Well, keep reading and you'll see.
The Basics of Real Estate Teams
As you know, realtors entering the business either can begin as independent agents or join up with a real estate team working under a brokerage, the hope with the team option being that the team will provide you with more leads and more business. Realtors doing this do so at a price, generally splitting 20 to 30 percent of their earned commission with their broker in exchange for an office and other perks. They share another percentage with their teams as well.
How Oklahoma Real Estate Experts is a Different Kind of Team
So while my team, Oklahoma Real Estate Experts, just like described above, is a team working underneath a brokerage, REMAX at Home, that is where the similarities stop. Where most traditional teams are largely team lead oriented, with members supporting the lead, here the idea is grow you as a realtor so within a few years you can launch out on your own as a successful real estate agent.
My team is a sort of incubator for aspiring, motivated agents. While many more traditionally-structured teams leave many hopeful realtors feeling used, abused and burnt out, we want to help you become successful by giving you proper training, guidance and a space to grow.
So here are just some of the differences between traditional teams and Oklahoma Real Estate Experts.
Traditional teams
· Recruit agents that have not have professional careers or formal education who are less likely to question team structures.
· Give agents leads and additional support such as transaction coordination, etc., but may have to pay for some of this on top.
· Often purchase leads and hand them down. (Agents are not trained on how to earn business).
· Require commission splits 50/50 of each sale with the team on top of the brokerage split. (In most cases, agents split 20-30% of their 50% with their broker).
· Focus on "Rain Maker" (team leader) reputation building and success.
· Center social media presence on the team, never building a brand for the agent.
· Allow only the "rainmaker" to list properties while other agents (AKA buyer's agents) on the team are only allowed to work with buyers. They have to give their listing leads to their team leader and only receiving a 25% referral fee which they still have to split 20-30% with the brokerage.
· Record any closings for the buyer's agent in the Multiple Listing Service (MLS) under the rainmaker's name only.
· Often inadvertently compel agents to transition away from he team due to unsustainable financial splits.
· Leave agents in a bad position as when they transition without much of a record of sales in the MLS, they are rarely in a position to negotiate themselves a better split with a new broker or new team as their "resume" of sorts shows little to no evidence of success.
· Set up agents for failure as when they leave their traditional teams to go on their own, they only know how to work with purchased leads as they were not trained on how to generate their own leads to have build a sustainable real estate business and
· Traditional team owners thrive on their agents needing them to survive which is why they can get away with such one-sided structures.
The Oklahoma Real Estate Experts (Incubator-style team)
· Only recruits agents with previous real estate success, former successful careers, and often with advanced college degrees.
· Focuses on agent training and development-in order to set agents in a path of successful business independence
· Expects agents to stay on team for no more than three years.
· Allows agents to partner with the team in order to control their commission splits.
· Rewards agents with greater commission when they generate their own clients than when they are given clients by the team.
· Trains agents in sustainable real estate business systems and practices that they themself can finance once they are on their own.
· Encourage agents to list properties while being mentored by the team as the team takes on the cost of marketing and advertisement of the listings.
· Names agents as co-listing agents on all buyer and seller deals closed in order to help them build their MLS resume
· Provides agents with their own custom logo in which they chose their own brand colors.
· Offers agents with a co-managed real estate compliant Facebook page which is co-managed with professional content as well as anything they want to post.
· Provides agents with transaction coordination.
· Gives agents around-the-clock support with clients.
So now that you see the differences, I hope you see why I want you to consider joining my team.
I want you to be successful, but I know to be successful, you need education, training, guidance and an environment to grow … and that is what I want to bring you at Oklahoma at Oklahoma Real Estate Experts.
To learn more about us, go towww.oklahomarealestateexperts.com.
