Join a team or go solo?

Question

What insight do you have on these options? Is it best to join a real estate team, or start out as a solo agent??

Charlie Cameron · Answer

@Dan Schweit I joined a team where if I take a team lead I give up more commissions but if I generate my own lead, I'm only paying a small amount for a TC, marketing, etc.  It's a great structure and we all collaborate.  I can keep my commission if I work my own lead or if I'm hungry for leads I can give more of that up to have business.  Plus I always get access to the team.  So why wouldn't I?!  Hope that helps.

Nathan Gesner · Answer

If you're a solid self-starter, I would recommend going it on your own but working under a brokerage that provides some solid training. Keller Williams is a good option.

Dan Schweit · Answer

Thanks for the reply Brian,

I am the self starter, outgoing, public speaking type who does have a solid ability to make connections wherever I go. So I have no doubt that solo is a good fit for me. If you see my above post, I am also an investor of many different types, including RE. I like the idea of the networking opportunities that come with a team and a bigger brokerage. Im just not sure the solo option with a smaller brokerage has the same opportunities beyond the retail sales. It seems in my locale that the bigger brokerages push the team route, have larger offices with lots of people in and out, and throw lots of events. And the smaller ones are smaller offices and less co-working.

Nathan Gesner · Answer

Who are you? What are you trying to achieve? Are you capable of doing it all (marketing, networking, lead generation, contracts, scheduling, etc.) or would you do better just focusing on one portion of each transaction (e.g. lead generation)?

A team is probably easier. You can focus on one task you are really good at, let others handle the tasks they're good at, and be productive immediately.

Solo enables you to learn all aspects and keep more of your earnings, but it will also require you to be 100% responsible for every aspect and probably see slower growth.

It's a pretty wide-open question and difficult to answer without knowing you, your skill set, your resources, and your goals.

Charlie Cameron · Answer

@Dan Schweit You can structure a team lots of different ways.  I couldn't tell you if this is common for other brokers or not.  What I DO know is that I don't want to give up a large chunk of change for a lead I cultivated myself.  Perhaps you could negotiate it, but I think generally a team structure is pretty set so it is clear how commissions will be cut.  Heck, you could even start your own if there wasn't one (but it's LA, there's gotta be a few).

Dan Schweit · Answer

@Charlie Cameron

This is the best if both worlds. I will dig in to whether this is an option with the current opportunities I have available. Is this a typical situation while working with a team, or a something you negotiated for yourself??

Rob Massopust · Answer

I started out working for a broker as an agent and back then you had pretty much open reign to sink or swim. I learned alot "boots on the ground" with some tough deals and people. I never really gravitated towards a team,[wasnt as much of a thing 15 years ago]. I just wouldnt want my efforts diluted by hanger ons. Not everyone moves at the same pace. I moved on to get my brokers license and do my own thing entirely. But have come full circle lately and after a few years out of the business have been going solo in one of the most difficult markets and its tough.

I am now circling around finding another broker to work for just so I have some backup, support and existing synergy. I do not need to make as much but would like something more duplicatable and sustainable. We all have to be cognizant of how the market is really changing with technology and iBuyers. I said that in 1998 thinking why get my license agents are just going to get "Pricelined" to its "Amazoned and "Zillowed" it will still take some time but with more competition from agents and huge competition from the iBuyers. Wish I knew an easier way to make this work.

Dan Schweit · Answer

Im confident I can handle every aspect of the business myself, I have been a successful small business owner for the last 15 years owning up to 3 businesses at once, but am transitioning out those. I am also a RE investor. I guess to take it to another layer, I look at the "team" option as a way to expand my network and investing opportunities, and to help people buy and sell. I just like the idea of waking up every day with RE and going to sleep the same way, whether its my own porps or a client. It seems like the bigger brokerages like to funnel new agents through the "team" option to start. I sat with the owner a local Remax last week, a very successful guy that has his hands on tons of stuff. I like the idea of being in rooms with guys like this and being in these circles. It seems the solo agent option will get me more money, but will it offer the same "business" opportunities??

Brian D. Beatty · Answer

@Dan Schweit

Team or no team? I would say it varies for everyone. Are you the type that walks into a room full of strangers, and does not have a problem walking up to people and having conversations (not selling, just at least introducing yourself)? Or are you the person that walks into that room and tries to find the person they know or talks to the bartender or server more than anyone else? If you join a team, you may get more work, at first, but are you getting the credit? Do you need training, does the main office train, or only teams? Every office is different, every person is different. I've had friends join a team and get burnt out, others succed and branch off on their own, some never leave the team. If you are self starter, with a good list of local contacts and are not afraid to realize its your business, no need to join a team. If you like to be led and trained, join the team. Hope this helps, realize 87% of new agents will not be here after 2 years! Use that for motivation! Hope this helps!

Dan Schweit · Answer

@Rob Massopust I have no experience on the retail side of real estate. I have been an investor over the years. By "joining a team" im referring to joining what seems to be a lead agent who has agents working under him/her as part of the "team", as opposed hanging my license with a broker and working for only myself in creating my own brand/business. This working for a team option seems to be pretty common place in my neck of the woods these days.

Join a team or go solo?

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