Updated over 9 years ago on . Most recent reply
New Agent in Los Angeles, CA
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?
Most Popular Reply
@Jennifer Stutland 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.