Redondo Beach, CA · Member since 2016 · 33 posts · 22 votes
Hi all! I'm just about to get my salesperson's license and I'm wondering about one thing... joining someone else's team versus starting out on my own. I've read some pros and cons of each, but would love to hear some advice from the BP community. I want to work with investors, as my background is in business and I've got some connections in this sphere already. My main goal is hands on learning that'll help to build a sound foundation on which to grow.
So, which is better? Joining a team, or starting out on your own as a real estate agent?
Real Estate Agent · Turlock, CA · Member since 2016 · 6 posts · 3 votes
10y
I don't think it's a bad idea to start with a team. In my opinion that's a better learning option because you surround yourself with people who are there to help you learn and grow. At some point though, if you're serious about becoming really successful, you would more than likely want to branch out on your own, to build your brand. Not to say you can't be really successful as a team, but I find there's a much higher ceiling building your own team vs working on someone else's.
Rental Property Investor · Phoenix, AZ · Member since 2016 · 424 posts · 261 votes
10y
@Account Closed it would depend on your goals and how much time and effort you are willing to dedicate to the business. For example, if you were looking to earn a modest income and you believed you could close 1-2 per month it probably would not make sense to be on a team.
If you are looking to become highly leveraged, have administrative and marketing support, get coaching and training and leads then the right team could make sense. The team will take a large cut of the commission, though they are have a vested interest in your success because they only get paid if you succeed. The team is taking more of the risk than the agent who is only using time and effort as resources. It costs the team owner thousands to operate the business every month in salaries, marketing and systems/tools. Typically as a team member you pay only the expenses of having a real estate license.
I don't think one is better than the other because everyone has different reasons for getting into real estate and it may be a little more difficult for you to find a team that can support your desire to work with investors. If you find the right team, it could help you get into production quickly, with little stress and you could make more than as a solo agent after you factor in all expenses.
The team's I'm considering are listed under the team leader with branding done by the team leader as well. That's concerning... working hard to build someone else's business. I'm okay foregoing income at first in return for getting into production faster and more hands-on learning. My next biggest concern is, will joining a team now affect my career later?
Again, thanks for your advice, definitely good food for thought.
Lender · Westlake Village, CA · Member since 2016 · 31 posts · 4 votes
10y
@Account Closed I began my career with a big team and I wouldn't have changed it for the world. I gained so much experience of the items that I would not have known otherwise. I would hihgly recommend it. Feel free to PM me if you have any questions.
Real Estate Agent · Turlock, CA · Member since 2016 · 6 posts · 3 votes
10y
I don't think it's a bad idea to start with a team. In my opinion that's a better learning option because you surround yourself with people who are there to help you learn and grow. At some point though, if you're serious about becoming really successful, you would more than likely want to branch out on your own, to build your brand. Not to say you can't be really successful as a team, but I find there's a much higher ceiling building your own team vs working on someone else's.
Redondo Beach, CA · Member since 2016 · 33 posts · 22 votes
10y
@Nick Popolizio, you make a great point.. I can see how starting out on a team makes it possible to learn more from experienced people, one of the best ways I feel it is to learn. When considering teams, what's important to look at? I've heard things like looking at their marketing budget, and seeing if they've got support staff. Thoughts?
Real Estate Agent · Turlock, CA · Member since 2016 · 6 posts · 3 votes
10y
@Account Closed it really depends (I hate saying that). In, my opinion, I would look for a team that is run by someone who you feel would be a good mentor to you. I would look for someone you can connect with, that wants to help you learn and grow, and who understands your long term goals. Don't worry about whether or not they give you leads, or what the split is. The only reason for you to join a team is to learn and grow as a Realtor. If you can't find a team that can provide that to you, what's the point of being on one?