Posts Tagged as Real Estate Teams

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It’s Time to Team Up to Boost Sales and Productivity

What tops today’s list of real estate selling tips for boosting sales and productivity? Giving teams a try. Real estate teams are on the rise, with transaction rates far outpacing those of top-producing individual agents.

Go team!
A recent Real Trends report noted between 35,000 and 50,000 real estate teams in the US, with 37% of teams formed between one-to-three years ago and 26% formed just one year ago. (Rankings are based on submissions, with some top-producing teams, agents and brokerages declining to submit their numbers for a variety of reasons.)

Reaching new heights…

• Team submissions grew from 2,233 in 2012, to 4,335 in 2015, growing by 94%. Though this number accounts for only the country’s highest-producing teams, this is enormous growth for a three-year period.

• The top 250 ranked teams completed 61,321 transactions in 2011. In 2015, that number jumped to 70,873. The top 250 individual agents completed 45,074 in 2011 and 35,833 in 2015, respectively. This indicates a 16% increase in transaction volume for teams versus an almost 20% decrease by individuals during the same time periods.

Why do teams work?
Because teams, under one or two team trainers/leaders, work collectively to reach sales goals, agents are able to reap the rewards of sales while easily maintaining a healthy work/life balance. Something unheard of with superhero individual associates working 75+ hour weeks.

How can you foster a team?
Starting a team is among the easiest real estate selling tips to implement. Most teams begin with an administrative person assisting one or two sales associates… And the team grows from there. Why an administrative assistant first? To provide functionality and test the team’s culture. Before starting a team, however, set yourself up for success by ensuring that you have the personal brand/culture – and leads – to support it.

Looking for real estate selling tips with your best interests at heart? Properties Online is on your team.

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Trend Watch: Real Estate Agent Teams

Real Estate Teams
Real Estate Teams

Sales slow? You might want to consider teaming up. The latest in real estate trends, real estate agent teams are showing massive sales promise.

Why are real estate agent teams cleaning up the competition?
Teams can tackle customer service with greater ease, often earning realty teams five star ratings from clients.

The scoreboard:
A look at a matchup between Pennsylvania areas realtors shows:

  • 8 homes:
    The number of homes sold on average by Centre County agents.
  • 20 homes:
    The average number of homes sold by agents at Kissinger Bigatel & Brower Realtors (near Penn State).
  • 135 homes:
    The number of homes KBB partner Peter Chiarkas and his teammates, Laurel Cardillo and Krissy Bonson score in a year.

Go team!
With results like those, it’s no wonder real estate agent teams are climbing the rankings in real estate trends.

No “I” in team…
Results like these with a solo operation would be impossible. A single individual handling everything involved with that amount of turnover – and doing it well – just isn’t realistic. That’s why 25 percent of KBB utilizes agent teams.

The draft?
To keep client’s happy (and not feeling neglected), after 50 transactions, agents typically need an assistant. After 100, another. After 150, a third.

The sign-on bonuses of teams:

  • Teams are highly visible.
  • Team economics are not the sum of their parts – business actually increases exponentially.
  • Teams have a better chance of success. Real estate trends show a 33 percent failure rate after two years versus a 90 percent failure rate for new, solo agents.
  • Though not a necessary ingredient for success, the team model, when hiring is done selectively, can allow agents to work to their strengths for the success of the team, offering a support net for agent weaknesses.

Don’t fumble. Start forming your winning team with the help of Properties Online today.