Effective teams are organized to leverage the diverse skills of their members, providing a broader range of services to clients than a single agent might be able to offer on their own. Teams often are more structured, with roles defined by the specific strengths and specialties of team members, such as sales, marketing, administrative support, customer service, and strategic planning. The team leader oversees operations, ensuring that the team’s efforts are aligned with client needs and goals.
The value of having a seasoned team, especially with years of cohesive experience, cannot be overstated. Our team was the first in our marketplace, beginning in 1990 with three specialists. We have gradually grown to seven, including four team members together for nearly 25 years.
This depth of experience equips us to anticipate market trends and advise our clients effectively, ensuring they make informed decisions at every step. We excel in minimizing difficulties for our clients, and troubleshooting and problem-solving when challenges arise. We come together to brainstorm marketing, pricing strategies, negotiating most successfully, and solutions leveraging our collective expertise to navigate obstacles efficiently and effectively.
What Do Real Estate Teams Do Best?
Home inspections may take three to four hours and produce reports up to twenty pages. Supplemental inspections of the roof, fireplace, plumbing, etc. can add further reports. Pest control reports are several pages, and preliminary title reports can be lengthy. By the time an escrow closes, the file may be over an inch thick!
Can you visualize the time it takes to process, organize and monitor all of these details? Are you aware of the current contingency removal process? It requires keeping track and taking affirmative action by specific dates, and there are often several different issues and time frames to deal with, as well as three to four inter-related forms.
Stand-Alone Agent Juggling
If a “stand-alone” agent is meeting with a current or prospective new client or is out for two to three hours showing properties to a buyer, who is available to answer phone calls and coordinate marketing activities in the office? Who is going to assure that advertising details are completed, digital photography done, and publication deadlines are met? How will brochure boxes get put up, and who has the time to keep them stocked?
If a single agent is at a lengthy property inspection, who can make the calls for a last-minute appointment? And who can do a short-notice showing? When an agent is involved in family activities, may be out for a day with the flu, or is otherwise occupied for several hours, who is available to cover the office?
If the agent has an arrangement where another agent will cover such times, how familiar might the other agent be with all the details of your home and property showing routine? The “team agent” also is much more able to be involved in networking with buyers’ agents to increase the attention and energy about your home.
My Experience with My Team
I could never provide by myself even half the level and quality of service my team and I offer. Each of us has areas of specialized skills as well as being able to cover each other’s activities when necessary. We have systems and checklists for handling nearly every aspect of the sale from start to finish, including effective marketing, advertising and escrow management.
The business model that many “team agents” use is similar to a doctor’s office, where a different individual is primarily responsible for reception and information gathering, preliminary measurements and temperature reading, obtaining of any lab samples needed, record-keeping and invoicing. Certainly, the doctor could do most or all of the functions and activities, and probably does in some small towns or rural areas. But in most practices, the professional level of service requires at least two to three other people in the office.
Would a baseball team thrive with just one coach? Could a CPA provide high-quality service for more than a few clients if he was also the receptionist, bookkeeper and file clerk? Would you hire an attorney who did all his own research, computer entry, copying of documents, office records and filing? Also, would you rather have an attorney who is in the courtroom every week, or one who is there three or four times a year? The median average agent serving the Palisades does only one sale a year. Only the top 34 of over 350 agents handled five or more sales in 2002.
I suggest that you get a list of sellers represented during the last few years by both of the agents. Call and ask them to describe their experience, and find out if they would use the same agent again.
What to Look for In a Team
Some guidelines to considering a team-based approach for a more successful home sale experience include:
- Experience in diverse and transitioning markets, which enables a broader perspective to better understand current issues and possible future trends
- Expertise in various fields, including market analysis, pricing strategies, home preparation and staging, photography, legal issues, and ensuring all aspects of the escrow process are professionally handled
- Well-organized systems and procedures that provide individual expertise in each aspect of the processes involved and minimize common pitfalls, unnecessary challenges and inefficiencies
- Effective marketing strategies can be deployed by a team that leverages digital platforms, networking, social media postings, and traditional print and other marketing to reach a wider audience
- Seamless internal coordination within the team that ensures all members are aligned and moving towards the same objectives, minimizing delays or frustrations for clients
- Utilization of technology for better coordination, marketing, and client communication
- Effective communication with clients and among team members to ensure that everyone is informed and on the same page
- Accessibility and availability with a team allow someone the ability to answer questions, respond to inquiries, and show the property even with relatively short notice
- A collaborative approach with clients, offering suggestions and strategies rather than dictating actions or making decisions for the client
- A client-centric experience that prioritizes excellent client experiences to facilitate smooth processes and deliver positive results
- Support and guidance to help clients deal with the emotional challenges and stress often involved in the process
- Negotiation skills enable securing the best price and terms for the client, including issues that may arise during the escrow period
- Network and connections with other agents, potential buyers, and industry professionals increase the chances of a smoother and better sale
It is highly recommended that anyone thinking of selling or buying real estate carefully consider these factors when choosing their next real estate agent or team. Since a home is often one’s most valuable asset, who one employs to sell it can make a substantial difference in the financial results. If you would like some guidelines for interviewing agents, please call me for a booklet of some suggested questions and other issues to consider.
